17145 Indiana St · Detroit, MI 48221

$114,900

4 bd · 2.0 ba · 2,212 sqft · MultiFamily public records · 18 Days on market

Built 1928 3,920 sqft lot Est $133k · 13% 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 +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Brick - vinyl 5 and 6. Each unit has a living room, dining room, updated kitchen, two bedrooms, and a bath. Extras include a full basement, luxury vinyl flooring, a large covered open porch, one enclosed porch, and off street parking. Solid freeway access and easy access to Downtown Detroit, and Ferndale.

Key facts

• Living room
• Full basement
• Dining room

Tags

• LIVING ROOM
• DINING ROOM
• UPDATED KITCHEN
• FULL BASEMENT
• LARGE COVERED OPEN PORCH
• ENCLOSED PORCH

Property features AI

Finance

• Other: Lot dimensions approximately 35 x 114 (0.09 acres)
• Financial info: Annual tax amount reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two-story layout
• Construction: Brick construction; Block foundation; Built area above grade: 2,212 square feet
• Exterior features: Paved road access; Pets allowed; Residential zoning

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas and steam heating; No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 10.1% 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 rising (+3.4%/yr); 349 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,468/mo this rent would consume 51% of the median local household income ($58k/yr) (locally 1646% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k 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 + 3.4% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $92k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,176 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.15% ✓
• Cap rate: 18.36%
• Cash-on-cash: 43.11%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $132,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16644 Washburn St	0.27mi	4/2.0	2,263 (+2%)	7mo	$65,000	$29	78
17200 Roselawn St	0.33mi	4/2.0	2,293 (+4%)	3mo	$225,400	$98	76
16505 Indiana St	0.37mi	4/2.0	2,167 (-2%)	6mo	$129,000	$60	74
17375 Kentucky St St	0.16mi	4/2.0	2,049 (-7%)	8mo	$70,000	$34	74
17532 Wisconsin St	0.25mi	4/2.0	2,052 (-7%)	5mo	$220,000	$107	72
16631 Birwood St	0.41mi	5/2.0 (+1)	2,240 (+1%)	3mo	$55,000	$25	71
16712 Greenlawn St	0.45mi	4/2.5	2,193 (-1%)	9mo	$125,000	$57	68
10517 Curtis St	0.59mi	4/2.0	2,148 (-3%)	2mo	$210,000	$98	66
17545 Roselawn St	0.38mi	5/2.0 (+1)	2,390 (+8%)	7mo	$165,000	$69	58
16230 Indiana St	0.42mi	4/2.0	2,429 (+10%)	9mo	$133,900	$55	56
15852 Washburn St	0.63mi	4/2.0	2,398 (+8%)	8mo	$125,000	$52	50
7601 Curtis St	0.69mi	4/2.0	2,008 (-9%)	9mo	$202,000	$101	45

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 40.4%
• Equity multiple: 2.74×
• Total profit: $56,121
• Equity at exit: $17,132

10-year hold

• IRR: 46.9%
• Equity multiple: 5.61×
• Total profit: $148,343
• Equity at exit: $9,934

Cash invested: $32,172 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,468 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $1,156

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 48%

Sensitivity live

Price	-10% $1,235	-5% $1,195	+0% $1,156	+5% $1,116	+10% $1,076
Rent	-10% $961	-5% $1,058	+0% $1,156	+5% $1,253	+10% $1,351
Rate	-1.0pp $1,214	-0.5pp $1,185	base $1,156	+0.5pp $1,126	+1.0pp $1,096

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,468
Total (2 units)			$2,468

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	21d	1	0.24mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	45d	1	0.36mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.37mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.46mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.77mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.92mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	45d	1	0.98mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	45d	1	1.35mi

Listing history 12 events

1. 2026-06-21
   days on market $114,900 Active 18 DOM
2. 2026-06-18
   days on market $114,900 Active 15 DOM
3. 2026-06-17
   days on market $114,900 Active 14 DOM
4. 2026-06-16
   days on market $114,900 Active 13 DOM
5. 2026-06-15
   days on market $114,900 Active 12 DOM
6. 2026-06-13
   days on market $114,900 Active 10 DOM
7. 2026-06-13
   days on market $114,900 Active 9 DOM
8. 2026-06-09
   days on market $114,900 Active 6 DOM
9. 2026-06-08
   days on market $114,900 Active 5 DOM
10. 2026-06-07
    days on market $114,900 Active 4 DOM
11. 2026-06-04
    remarks 307-char remark
12. 2026-06-04
    listed $114,900 Active 1 DOM

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,616
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$2,369
• − Management: −$2,369
• − Depreciation: −$3,343
• Taxable income: $12,801
• Est. tax owed @ 24.0%: −$3,072
• After-tax cash flow: $10,796/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+359.6% since first listed

16 events — show timeline

• 2026-06-03 Listed $114,900 MiRealSource-MiMLS
• 2026-06-03 Listed $114,900 REALCOMP
• 2026-02-27 Listing Removed — MiRealSource-MiMLS
• 2026-01-03 Price Changed $199,900 MiRealSource-MiMLS
• 2026-01-02 Price Changed $199,900 REALCOMP
• 2025-09-08 Listed $219,900 REALCOMP
• 2025-09-08 Listed $219,900 MiRealSource-MiMLS
• 2017-11-20 Sold (Public Records) $92,000 Public Records
• 2017-04-28 Pending — REALCOMP
• 2017-04-21 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2017-04-21 Sold (MLS) $20,000 REALCOMP
• 2017-04-17 Listing Removed — REALCOMP
• 2017-03-27 Pending — MiRealSource-MiMLS
• 2017-03-27 Pending — REALCOMP
• 2017-02-04 Listed $25,000 MiRealSource-MiMLS
• 2017-02-03 Listed $25,000 REALCOMP

Property tax history

+15.0%/yr

Latest (2025): $12,382 · +0.2% YoY. Source: county tax records.