2488 W Buena Vista St · Detroit, MI 48238

$95,000

6 bd · 2.5 ba · 2,600 sqft · SingleFamily public records · 3 Days on market

Built 1924 4,356 sqft lot Est $109k · 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 +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Incredible potential awaits in this historic 1920s brick Tudor. Featuring intricate craftsmanship, this versatile two-family property is perfect for multi-generational living or a rental income opportunity. The home requires updates and elbow grease, making it an ideal project for a skilled buyer looking to build quick equity. Great location with seamless freeway access.

Key facts

• Two-family property
• Historic brick tudor
• 4,356 sq ft lot

Tags

• HISTORIC BRICK TUDOR
• TWO-FAMILY PROPERTY
• MULTI-GENERATIONAL LIVING
• RENTAL INCOME OPPORTUNITY
• SEAMLESS FREEWAY ACCESS

Property features AI

Finance

• Financial info: Land contract available (60 months, approx. $1,000/month at 8.5% shown)

Exterior

• Utilities: Public water; Natural gas; Forced air heating (natural gas)
• Home design: Residential property; More than 2 stories; Built in 1924; Basement foundation
• Construction: Brick construction; Basement foundation; Built in 1924
• Exterior features: Brick exterior; Exterior balcony; Paved street access; Frontage about 35 feet

Interior

• Kitchen: Kitchen on main level (approx. 11 x 11)
• Bedrooms: Three first-floor bedrooms (approx. 12 x 11; 12 x 10; 9 wide); Three second-floor bedrooms (approx. 12 x 11; 12 x 10; 10 x 9)
• Bathrooms: Two full bathrooms; Main-level bathroom approx. 8 x 9; Second-floor bathroom approx. 8 x 9
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 9 rooms; Unfinished basement
• Laundry & utility: Basement present (unfinished)

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 18.6% 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 rising fast (+6.1%/yr); 346 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $2,065/mo this rent would consume 74% of the median local household income ($33k/yr) (locally 2172% 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 $657 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 + 6.1% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1924 — 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: 2.17% ✓
• Cap rate: 18.61%
• Cash-on-cash: 43.98%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $109,200
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2704 Leslie St	0.22mi	6/2.5	2,760 (+6%)	15mo	$55,000	$20	67
3250 Richton St	0.57mi	6/2.0	2,600 (0%)	5mo	$55,000	$21	67
3330 Sturtevant St	0.57mi	6/2.0	2,630 (+1%)	8mo	$220,000	$84	63
2733 Doris St	0.60mi	5/3.0 (-1)	2,600 (0%)	10mo	$110,000	$42	57
3222 W Buena Vista St	0.41mi	5/3.5 (-1)	2,854 (+10%)	5mo	$254,000	$89	51

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 44.5%
• Equity multiple: 3.01×
• Total profit: $53,457
• Equity at exit: $14,165

10-year hold

• IRR: 51.8%
• Equity multiple: 6.87×
• Total profit: $156,081
• Equity at exit: $8,214

Cash invested: $26,600 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $975

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,041	-5% $1,008	+0% $975	+5% $942	+10% $909
Rent	-10% $812	-5% $893	+0% $975	+5% $1,056	+10% $1,138
Rate	-1.0pp $1,023	-0.5pp $999	base $975	+0.5pp $950	+1.0pp $925

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	1.10mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.25mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	1.40mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	1.40mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	1.48mi

Listing history 7 events

1. 2026-06-18
   days on market $95,000 Active 3 DOM
2. 2026-06-17
   days on market $95,000 Active 2 DOM
3. 2026-06-16
   statusdays on marketlisting id $95,000 Active 1 DOM
4. 2026-06-15
   days on market $95,000 Coming Soon 5 DOM
5. 2026-06-13
   days on market $95,000 Coming Soon 3 DOM
6. 2026-06-13
   remarks 373-char remark
7. 2026-06-13
   listed $95,000 Coming Soon 2 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 · 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: $24,781
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$2,764
• Taxable income: $10,831
• Est. tax owed @ 24.0%: −$2,599
• After-tax cash flow: $9,099/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

1 event — show timeline

• 2026-06-10 Coming Soon $95,000 MiRealSource-MiMLS

Property tax history

+16.6%/yr

Latest (2025): $6,988 · +109.3% YoY. Source: county tax records.