4836 Courville St · Detroit, MI 48224

$69,500

3 bd · 1.5 ba · 1,834 sqft · SingleFamily public records · 30 Days on market

Built 1927 4,792 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Location, location, location!!! Resting in the Morningside neighborhood just five blocks from Grosse Pointe!!! Charming 3-bedroom brick colonial in Detroit's desirable 48224 zip code, offering character, space, and endless potential. Features include a spacious covered front porch, large living and dining areas perfect for entertaining, oversized bedrooms and a rear balcony for added outdoor enjoyment. With strong bones and classic curb appeal, this home is ideal for buyers seeking a value-add opportunity. Perfect for FHA 203K financing. A great chance to bring your vision to life in a prime Eastside location-schedule your showing today!!

Key facts

• Covered front porch
• Oversized bedrooms
• Rear balcony

Tags

• COVERED FRONT PORCH
• LARGE LIVING AND DINING AREAS
• OVERSIZED BEDROOMS
• REAR BALCONY
• CLASSIC CURB APPEAL
• PRIME EASTSIDE LOCATION

Property features AI

Exterior

• Parking: No garage
• Utilities: Municipal water available; Sewer available
• Home design: Single-family residence; Two stories; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Built area above grade approximately 1,605 square feet
• Exterior features: Awnings; Fenced yard; Asphalt roof; Paved road access

Interior

• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $16k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $70k implies a 435% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,457 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.99% ✓
• Cap rate: 16.02%
• Cash-on-cash: 34.73%
• DSCR: 2.55
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $176,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4830 Courville St	0.01mi	4/1.5 (+1)	1,878 (+2%)	2mo	$119,000	$63	89
5200 Bedford St	0.25mi	3/1.5	1,718 (-6%)	1mo	$159,900	$93	77
4836 Kensington Ave	0.22mi	4/1.5 (+1)	1,752 (-4%)	1mo	$195,000	$111	77
5236 Bedford St	0.28mi	3/1.5	1,670 (-9%)	1mo	$159,900	$96	72
4331 Balfour Rd	0.54mi	3/2.0	1,793 (-2%)	1mo	$160,000	$89	68
5256 Harvard Rd	0.54mi	3/1.5	1,923 (+5%)	1mo	$207,500	$108	66
4384 Grayton St	0.44mi	3/2.0	1,952 (+6%)	1mo	$272,500	$140	66
3930 Yorkshire Rd	0.56mi	3/1.0	1,704 (-7%)	2mo	$275,000	$161	59
5541 Grayton St	0.54mi	4/2.0 (+1)	1,730 (-6%)	0mo	$200,000	$116	58
5205 Cadieux Rd	0.55mi	3/2.0	1,992 (+9%)	0mo	$108,000	$54	58
4861 Nottingham Rd	0.59mi	2/2.0 (-1)	1,918 (+5%)	1mo	$75,000	$39	57
5934 Haverhill St	0.67mi	3/3.0	1,761 (-4%)	1mo	$150,000	$85	56

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: 27.5%
• Equity multiple: 2.11×
• Total profit: $21,572
• Equity at exit: $10,363

10-year hold

• IRR: 33.6%
• Equity multiple: 3.73×
• Total profit: $53,083
• Equity at exit: $6,009

Cash invested: $19,460 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$364
• Tax from tax record: −$134 /mo · $1,605/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $563

Break-even live

Break-even rent $667

Max offer price $69,500

Occupancy floor 54%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5050 Three Mile Dr Detroit, MI	2.0	1.0	2127	$1,150	$0.54	44d	1	0.14mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.37mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.37mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.49mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	44d	1	0.66mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	0.71mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	0.77mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.81mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.90mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.92mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.94mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	44d	1	0.96mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	0.99mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	1.07mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.13mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.15mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.16mi
5944 Marseilles St Detroit, MI	3.0	1.0	1910	$1,300	$0.68	17d	1	1.18mi
1334 Maryland St Grosse Pointe Park, MI	2.0	1.0	1786	$1,200	$0.67	18d	1	1.27mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.30mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.44mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	1.47mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.48mi

Listing history 31 events

1. 2026-06-18
   price $69,500 Active 30 DOM
2. 2026-06-18
   days on market $72,000 Active 30 DOM
3. 2026-06-17
   days on market $72,000 Active 29 DOM
4. 2026-06-15
   price $72,000 Active 27 DOM
5. 2026-06-15
   days on market $85,000 Active 27 DOM
6. 2026-06-13
   days on market $85,000 Active 25 DOM
7. 2026-06-13
   days on market $85,000 Active 24 DOM
8. 2026-06-09
   days on market $85,000 Active 21 DOM
9. 2026-06-08
   days on market $85,000 Active 20 DOM
10. 2026-06-07
    days on market $85,000 Active 19 DOM
11. 2026-06-04
    days on market $85,000 Active 16 DOM
12. 2026-06-03
    days on market $85,000 Active 15 DOM
13. 2026-06-02
    days on market $85,000 Active 14 DOM
14. 2026-06-01
    days on market $85,000 Active 13 DOM
15. 2026-05-31
    days on market $85,000 Active 12 DOM
16. 2026-05-18
    listed $85,000 Active 646-char remark

    Show marketing remark (646 chars)

    Location, location, location!!! Resting in the Morningside neighborhood just five blocks from Grosse Pointe!!! Charming 3-bedroom brick colonial in Detroit's desirable 48224 zip code, offering character, space, and endless potential. Features include a spacious covered front porch, large living and dining areas perfect for entertaining, oversized bedrooms and a rear balcony for added outdoor enjoyment. With strong bones and classic curb appeal, this home is ideal for buyers seeking a value-add opportunity. Perfect for FHA 203K financing. A great chance to bring your vision to life in a prime Eastside location-schedule your showing today!!

17. 2026-05-18
    listed $85,000 Active

    Show marketing remark (646 chars)

    Location, location, location!!! Resting in the Morningside neighborhood just five blocks from Grosse Pointe!!! Charming 3-bedroom brick colonial in Detroit's desirable 48224 zip code, offering character, space, and endless potential. Features include a spacious covered front porch, large living and dining areas perfect for entertaining, oversized bedrooms and a rear balcony for added outdoor enjoyment. With strong bones and classic curb appeal, this home is ideal for buyers seeking a value-add opportunity. Perfect for FHA 203K financing. A great chance to bring your vision to life in a prime Eastside location-schedule your showing today!!

18. 2026-04-27
    historical
19. 2026-04-27
    historical
20. 2026-02-22
    listed $99,999 Active
21. 2026-02-22
    listed $99,999 Active
22. 2026-02-21
    historical
23. 2016-10-01
    historical
24. 2016-09-30
    historical
25. 2016-08-30
    listed $11,300 Active
26. 2016-08-30
    listed $11,300 Active
27. 2008-02-11
    soldstatus $13,000
28. 2007-05-30
    listed $15,900
29. 2005-07-25
    soldstatus $167,000
30. 2004-08-10
    soldstatus $34,000
31. 2004-05-14
    listed $35,900

ⓘ 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: $1,605 · $134/mo
• Projected year-2 tax: $1,605 · $134/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 ≥95°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: $16,562
• − Mortgage interest: −$3,893
• − Property taxes: −$1,605
• − Insurance: −$348
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$2,022
• Taxable income: $6,044
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $5,307/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

+136.8% since first listed

16 events — show timeline

• 2026-05-18 Listed $85,000 REALCOMP
• 2026-05-18 Listed $85,000 MiRealSource-MiMLS
• 2026-04-27 Listing Removed — REALCOMP
• 2026-04-27 Listing Removed — MiRealSource-MiMLS
• 2026-02-22 Listed $99,999 MiRealSource-MiMLS
• 2026-02-22 Listed $99,999 REALCOMP
• 2026-02-21 Coming Soon — MiRealSource-MiMLS
• 2016-10-01 Listing Removed — REALCOMP
• 2016-09-30 Listing Removed — MiRealSource-MiMLS
• 2016-08-30 Listed $11,300 MiRealSource-MiMLS
• 2016-08-30 Listed $11,300 REALCOMP
• 2008-02-11 Sold (MLS) $13,000 REALCOMP
• 2007-05-30 Listed $15,900 REALCOMP
• 2005-07-25 Sold (Public Records) $167,000 Public Records
• 2004-08-10 Sold (MLS) $34,000 REALCOMP
• 2004-05-14 Listed $35,900 REALCOMP

Property tax history

-4.3%/yr

Latest (2025): $1,605 · -37.5% YoY. Source: county tax records.