3952 Bluehill St · Detroit, MI 48224

$25,000

2 bd · 1.0 ba · 560 sqft · SingleFamily public records · 69 Days on market

Built 1926 6,970 sqft lot $45/sqft · 46% below area Est $46k · 46% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bathroom fixer-upper with solid bones and endless potential. This home offers a great layout, spacious rooms, and a strong structural foundation - ready for your personal touch and updates. Ideal for investors or buyers looking to build equity and customize their dream space. New Roof installed 2026. Located right in front of a wonderful park.

Key facts

• 6,970 sq ft lot
• Built 1926
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 34.6% vs local median 10.2% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 484 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 20y ago; this cycle's ask has dropped $10k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $25k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.08% ✓
• Cap rate: 34.60%
• Cash-on-cash: 101.09%
• DSCR: 5.50
• GRM: 2.0

CMA / ARV

• ARV (median comp): $46,000
• List price: $25,000
• Delta: -45.65%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4528 Marseilles St	0.51mi	3/1.0 (+1)	637 (+14%)	7mo	$77,500	$122	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 99.5%
• Equity multiple: 5.47×
• Total profit: $31,270
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 10.55×
• Total profit: $66,828
• Equity at exit: $2,162

Cash invested: $7,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,020 high
• Mortgage (P&I): −$131
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $590

Break-even live

Break-even rent $274

Max offer price $25,000

Occupancy floor 37%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17161 Denver St Detroit, MI	1.0	1.0	700	$800	$1.14	12d	1	0.13mi
17161 Denver St Apt 10 Detroit, MI	1.0	1.0	700	$800	$1.14	11d	1	0.13mi
4811 Cadieux Rd Unit 2 Detroit, MI	1.0	1.0	600	$950	$1.58	43d	1	0.50mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	22d	1	0.50mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	43d	1	0.50mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	43d	1	0.52mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	43d	1	0.54mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	15d	1	1.01mi
5284 Devonshire Rd Unit 2 Detroit, MI	1.0	1.0	750	$1,050	$1.40	15d	1	1.12mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	24d	1	1.12mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	43d	1	1.43mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	43d	1	1.46mi
1127 Beaconsfield Ave Grosse Pointe Park, MI	1.0	1.0	700	$975	$1.39	43d	1	1.49mi

Listing history 39 events

1. 2026-06-18
   days on market $25,000 Active 69 DOM
2. 2026-06-17
   days on market $25,000 Active 68 DOM
3. 2026-06-15
   days on market $25,000 Active 66 DOM
4. 2026-06-13
   days on market $25,000 Active 64 DOM
5. 2026-06-13
   days on market $25,000 Active 63 DOM
6. 2026-06-10
   price $25,000 Active 60 DOM
7. 2026-06-09
   days on market $30,000 Active 60 DOM
8. 2026-06-08
   days on market $30,000 Active 59 DOM
9. 2026-06-07
   days on market $30,000 Active 58 DOM
10. 2026-06-04
    days on market $30,000 Active 55 DOM
11. 2026-06-03
    days on market $30,000 Active 54 DOM
12. 2026-06-02
    days on market $30,000 Active 53 DOM
13. 2026-06-01
    days on market $30,000 Active 52 DOM
14. 2026-05-31
    days on market $30,000 Active 51 DOM
15. 2026-05-12
    price $30,000 367-char remark

    Show marketing remark (371 chars)

    Charming 2-bedroom, 1-bathroom fixer-upper with solid bones and endless potential. This home offers a great layout, spacious rooms, and a strong structural foundation—ready for your personal touch and updates. Ideal for investors or buyers looking to build equity and customize their dream space. New Roof installed 2026. Located right in front of a wonderful park.

16. 2026-05-12
    price $30,000 371-char remark

    Show marketing remark (371 chars)

    Charming 2-bedroom, 1-bathroom fixer-upper with solid bones and endless potential. This home offers a great layout, spacious rooms, and a strong structural foundation—ready for your personal touch and updates. Ideal for investors or buyers looking to build equity and customize their dream space. New Roof installed 2026. Located right in front of a wonderful park.

17. 2026-04-11
    listed $35,000 Active 371-char remark

    Show marketing remark (371 chars)

    Charming 2-bedroom, 1-bathroom fixer-upper with solid bones and endless potential. This home offers a great layout, spacious rooms, and a strong structural foundation—ready for your personal touch and updates. Ideal for investors or buyers looking to build equity and customize their dream space. New Roof installed 2026. Located right in front of a wonderful park.

18. 2026-04-10
    listed $35,000 Active 367-char remark

    Show marketing remark (367 chars)

    Charming 2-bedroom, 1-bathroom fixer-upper with solid bones and endless potential. This home offers a great layout, spacious rooms, and a strong structural foundation - ready for your personal touch and updates. Ideal for investors or buyers looking to build equity and customize their dream space. New Roof installed 2026. Located right in front of a wonderful park.

19. 2008-12-27
    historical
20. 2008-12-27
    historical
21. 2008-06-25
    listed $47,588
22. 2008-06-25
    listed $47,588
23. 2007-11-01
    soldstatus $6,500
24. 2007-02-15
    listed $16,065
25. 2007-02-02
    historical
26. 2006-11-07
    listed $16,065
27. 2006-11-03
    historical
28. 2006-11-03
    historical
29. 2006-10-24
    listed $18,900
30. 2006-10-24
    listed $18,900
31. 2006-10-16
    historical
32. 2006-10-16
    historical
33. 2006-09-13
    listed $18,900
34. 2006-09-13
    listed $18,900
35. 2006-07-10
    historical
36. 2006-07-10
    historical
37. 2006-03-13
    listed $34,900
38. 2006-03-11
    listed $34,900
39. 1999-06-29
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $897 · $75/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,242
• − Mortgage interest: −$1,400
• − Property taxes: −$897
• − Insurance: −$125
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$727
• Taxable income: $7,134
• Est. tax owed @ 24.0%: −$1,712
• After-tax cash flow: $5,364/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+50.0% since first listed

25 events — show timeline

• 2026-05-12 Price Changed $30,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $30,000 REALCOMP
• 2026-04-11 Listed $35,000 REALCOMP
• 2026-04-10 Listed $35,000 MiRealSource-MiMLS
• 2008-12-27 Listing Removed — REALCOMP
• 2008-12-27 Listing Removed — MiRealSource-MiMLS
• 2008-06-25 Listed $47,588 REALCOMP
• 2008-06-25 Listed $47,588 MiRealSource-MiMLS
• 2007-11-01 Sold (MLS) $6,500 REALCOMP
• 2007-02-15 Listed $16,065 REALCOMP
• 2007-02-02 Listing Removed — REALCOMP
• 2006-11-07 Listed $16,065 REALCOMP
• 2006-11-03 Listing Removed — REALCOMP
• 2006-11-03 Listing Removed — MiRealSource-MiMLS
• 2006-10-24 Listed $18,900 REALCOMP
• 2006-10-24 Listed $18,900 MiRealSource-MiMLS
• 2006-10-16 Listing Removed — MiRealSource-MiMLS
• 2006-10-16 Listing Removed — REALCOMP
• 2006-09-13 Listed $18,900 MiRealSource-MiMLS
• 2006-09-13 Listed $18,900 REALCOMP
• 2006-07-10 Listing Removed — MiRealSource-MiMLS
• 2006-07-10 Listing Removed — REALCOMP
• 2006-03-13 Listed $34,900 REALCOMP
• 2006-03-11 Listed $34,900 MiRealSource-MiMLS
• 1999-06-29 Sold (Public Records) $20,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $897 · -54.7% YoY. Source: county tax records.