2575 Ashland St · Detroit, MI 48215

$19,000

4 bd · 2.0 ba · 2,151 sqft · Townhouse public records · 83 Days on market

Built 1923 4,356 sqft lot $9/sqft · 94% below area ↓ 29% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in the 48215 zip code of Detroit. This duplex is ready for a total renovation to bring it back to life.

Key facts

• Total renovation
• 4,356 sq ft lot
• Built 1923

Tags

• TOTAL RENOVATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $19k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $19k).
• Recommended offer: $18k (6.0% below list) — sets the bar for market timing.
• Cap rate 93.6% 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: 137 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $131 of loan paydown is wiped out by about $570 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 + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (61%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 10.08% ✓
• Cap rate: 93.56%
• Cash-on-cash: 311.65%
• DSCR: 14.87
• GRM: 0.8

CMA / ARV

• ARV (median comp): $325,748
• List price: $19,000
• Delta: -94.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 16.97×
• Total profit: $84,948
• Equity at exit: $2,833

10-year hold

• IRR: —
• Equity multiple: 36.23×
• Total profit: $187,401
• Equity at exit: $1,643

Cash invested: $5,320 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,915 high
• Mortgage (P&I): −$100
• Tax est. 1.5%: −$24 /mo · $285/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $1,382

Break-even live

Break-even rent $166

Max offer price $19,000

Occupancy floor 23%

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2174 Springle St Detroit, MI	3.0	1.0	2256	$1,150	$0.51	1d	1	0.81mi
371 Piper Blvd Detroit, MI	3.0	1.5	2340	$2,000	$0.85	43d	1	1.42mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.44mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	1.44mi
685 Bedford Ln Grosse Pointe Park, MI	4.0	2.5	2690	$4,500	$1.67	10d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $19,000 Active 83 DOM
2. 2026-06-17
   days on market $19,000 Active 82 DOM
3. 2026-06-15
   days on market $19,000 Active 80 DOM
4. 2026-06-13
   days on market $19,000 Active 78 DOM
5. 2026-06-13
   days on market $19,000 Active 77 DOM
6. 2026-06-09
   days on market $19,000 Active 74 DOM
7. 2026-06-08
   days on market $19,000 Active 73 DOM
8. 2026-06-07
   days on market $19,000 Active 72 DOM
9. 2026-06-04
   days on market $19,000 Active 69 DOM
10. 2026-06-03
    days on market $19,000 Active 68 DOM
11. 2026-06-02
    days on market $19,000 Active 67 DOM
12. 2026-06-01
    days on market $19,000 Active 66 DOM
13. 2026-05-31
    days on market $19,000 Active 65 DOM
14. 2026-04-17
    price $34,999 122-char remark

    Show marketing remark (122 chars)

    Opportunity awaits in the 48215 zip code of Detroit. This duplex is ready for a total renovation to bring it back to life.

15. 2026-04-16
    price $34,999 122-char remark

    Show marketing remark (122 chars)

    Opportunity awaits in the 48215 zip code of Detroit. This duplex is ready for a total renovation to bring it back to life.

16. 2026-03-27
    listed $49,000 Active 122-char remark

    Show marketing remark (122 chars)

    Opportunity awaits in the 48215 zip code of Detroit. This duplex is ready for a total renovation to bring it back to life.

17. 2026-03-27
    listed $49,000 Active 122-char remark

    Show marketing remark (122 chars)

    Opportunity awaits in the 48215 zip code of Detroit. This duplex is ready for a total renovation to bring it back to life.

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

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: $22,982
• − Mortgage interest: −$1,064
• − Property taxes: −$285
• − Insurance: −$95
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$553
• Taxable income: $17,308
• Est. tax owed @ 24.0%: −$4,154
• After-tax cash flow: $12,426/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

-28.6% since first listed

4 events — show timeline

• 2026-04-17 Price Changed $34,999 MiRealSource-MiMLS
• 2026-04-16 Price Changed $34,999 REALCOMP
• 2026-03-27 Listed $49,000 REALCOMP
• 2026-03-27 Listed $49,000 MiRealSource-MiMLS

Property tax history

+7.7%/yr

Latest (2025): $1,902 · -50.9% YoY. Source: county tax records.