4646 Pacific St · Detroit, MI 48204

$159,900

4 bd · 2.0 ba · 2,238 sqft · Townhouse public records · 193 Days on market

Built 1916 3,920 sqft lot $71/sqft · 130% above area ↓ 11% since listing

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Why this score? — see what drove the C+ 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 +23.9/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

Key facts

• Two spacious units
• Separate utilities
• Solid returns

Tags

• FULLY OCCUPIED DUPLEX
• TWO SPACIOUS UNITS
• RELIABLE LONG TERM TENANTS
• STRONG RENTAL HISTORY
• SEPARATE UTILITIES
• SOLID RETURNS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

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: 248 active listings in the ZIP; 15 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).
• At $1,680/mo this rent would consume 58% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (median comp): $69,479
• List price: $159,900
• Delta: 130.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 3.39×
• Total profit: $106,815
• Equity at exit: $144,051

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $298,957
• Equity at exit: $310,651

Cash invested: $44,772 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$839
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $310

Break-even live

Break-even rent $1,287

Max offer price $159,900

Occupancy floor 77%

Sensitivity live

Price	-10% $401	-5% $355	+0% $310	+5% $265	+10% $220
Rent	-10% $178	-5% $244	+0% $310	+5% $377	+10% $443
Rate	-1.0pp $391	-0.5pp $351	base $310	+0.5pp $269	+1.0pp $227

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	17d	1	0.35mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	0.55mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	25d	1	0.68mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	44d	1	0.82mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	44d	1	1.16mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	44d	1	1.16mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	44d	1	1.17mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	2d	1	1.23mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	11d	1	1.37mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	1.37mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	16d	1	1.37mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	25d	1	1.41mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,523	$1.07	6d	1	1.44mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	1.49mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	1.50mi

Listing history 19 events

1. 2026-06-21
   days on market $159,900 Active 193 DOM
2. 2026-06-18
   days on market $159,900 Active 190 DOM
3. 2026-06-17
   days on market $159,900 Active 189 DOM
4. 2026-06-15
   days on market $159,900 Active 187 DOM
5. 2026-06-13
   days on market $159,900 Active 185 DOM
6. 2026-06-13
   days on market $159,900 Active 184 DOM
7. 2026-06-09
   days on market $159,900 Active 181 DOM
8. 2026-06-08
   days on market $159,900 Active 180 DOM
9. 2026-06-07
   days on market $159,900 Active 179 DOM
10. 2026-06-04
    days on market $159,900 Active 176 DOM
11. 2026-06-03
    days on market $159,900 Active 175 DOM
12. 2026-06-01
    days on market $159,900 Active 173 DOM
13. 2026-05-31
    days on market $159,900 Active 172 DOM
14. 2026-05-05
    price $159,900 359-char remark

    Show marketing remark (359 chars)

    Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

15. 2026-05-04
    price $159,900 360-char remark

    Show marketing remark (360 chars)

    Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

16. 2026-03-08
    price $169,900 359-char remark

    Show marketing remark (359 chars)

    Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

17. 2026-03-07
    price $169,900 360-char remark

    Show marketing remark (360 chars)

    Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

18. 2025-12-10
    listed $180,000 Active 360-char remark

    Show marketing remark (359 chars)

    Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

19. 2025-12-10
    listed $180,000 Active 359-char remark

    Show marketing remark (359 chars)

    Discover a fully remodeled duplex in the heart of Detroit, perfect for investors seeking immediate cash flow. This well-maintained property features two spacious units. Strong rental history, separate utilities, and solid returns make this an excellent addition to any investment portfolio. Conveniently located near major roads, shopping, and public transit.

ⓘ 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: $1,341 · $112/mo
• Projected year-2 tax: $1,902 · $158/mo
• Expected delta: +$561/yr (+$47/mo · 41.8%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,159
• − Mortgage interest: −$8,957
• − Property taxes: −$1,341
• − Insurance: −$800
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$4,652
• Taxable income: $1,184
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $3,438/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• Rent YoY: —
• 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

-11.2% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $159,900 MiRealSource-MiMLS
• 2026-05-04 Price Changed $159,900 REALCOMP
• 2026-03-08 Price Changed $169,900 MiRealSource-MiMLS
• 2026-03-07 Price Changed $169,900 REALCOMP
• 2025-12-10 Listed $180,000 REALCOMP
• 2025-12-10 Listed $180,000 MiRealSource-MiMLS

Property tax history

-0.1%/yr

Latest (2025): $1,341 · -8.3% YoY. Source: county tax records.