2984 Clements St · Detroit, MI 48238

$160,000

6 bd · 2.5 ba · 2,550 sqft · MultiFamily public records · 14 Days on market

Built 1925 4,356 sqft lot Est $140k · 14% over ↓ 9% 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 +30.0/30.0
• 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
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

FULLY REMODELED TWO UNIT, THREE-BEDROOM A PIECE DUPLEX. GREAT INVESTMENT FOR AN INVESTOR TO ADD TO THEIR PORTFOLIO. OWNER OCCUPANT BUY THIS PROPERTY LIVE IN ONE UNIT. RENT THE OTHER UNIT OUT AND LIVE FOR FREE. START A BUSINESS AND USE THE PROPERTY AS A, AFC HOME. BUY THE PROPERTY AND RENT OUT EACH ROOM. THERE ARE A TOTAL OF SIX BEDROOMS. BUYER SHALL PAY LISTING BROKERAGE 495 TRANSACTION FEE AT CLOSING.

Key facts

• 4,356 sq ft lot
• Built 1925
• Listed 14 days

Property features AI

Finance

• Other: Lot size approximately 0.1 acres (35 x 119); Above-grade finished area listed as 2,550 square feet

Exterior

• Utilities: Public water; Public sewer
• Home design: One-story multi-family residential income property; Brick exterior; Zoned for multi-family residential
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Pets not allowed

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive. Per door: $394/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 12.2% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,493/mo this rent would consume 90% 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 2y ago; this cycle's ask is 15900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.56% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $140,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2936 W Grand St	0.08mi	6/2.0	2,600 (+2%)	4mo	$30,000	$12	88
3741 Tyler St	0.37mi	6/2.5	2,600 (+2%)	2mo	$15,000	$6	78
3740 Tyler St	0.35mi	6/2.0	2,600 (+2%)	2mo	$159,500	$61	77
3005 Pasadena St	0.09mi	6/2.5	2,800 (+10%)	5mo	$86,000	$31	75
3782 Tyler St	0.39mi	6/2.0	2,600 (+2%)	4mo	$97,500	$38	73
3729 W Grand St	0.30mi	6/2.0	2,704 (+6%)	3mo	$120,000	$44	72
3734 W Buena Vista St	0.38mi	6/2.0	2,320 (-9%)	2mo	$168,000	$72	64
2950 Kendall St	0.31mi	6/2.0	2,250 (-12%)	1mo	$144,000	$64	63
4088 Tyler St	0.53mi	6/3.0	2,690 (+6%)	1mo	$83,600	$31	63
3316 Sturtevant St	0.50mi	6/2.0	2,750 (+8%)	5mo	$215,000	$78	58
4324 W Buena Vista St	0.68mi	6/3.0	2,700 (+6%)	1mo	$148,000	$55	56
2716 Elmhurst St	0.73mi	6/2.0	2,750 (+8%)	1mo	$225,000	$82	50

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: 17.3%
• Equity multiple: 1.73×
• Total profit: $32,519
• Equity at exit: $23,857

10-year hold

• IRR: 28.0%
• Equity multiple: 3.88×
• Total profit: $128,905
• Equity at exit: $13,834

Cash invested: $44,800 (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: 10.7×

Monthly cashflow live

• Estimated rent: $2,493 high
• Mortgage (P&I): −$839
• Tax from tax record: −$275 /mo · $3,300/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $789

Break-even live

Break-even rent $1,495

Max offer price $160,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,492
Total (2 units)			$2,493

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	0.87mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.44mi

Listing history 11 events

1. 2026-06-18
   status $160,000 Pending 14 DOM
2. 2026-06-18
   days on market $160,000 Active 14 DOM
3. 2026-06-17
   days on market $160,000 Active 13 DOM
4. 2026-06-16
   days on market $160,000 Active 12 DOM
5. 2026-06-15
   days on market $160,000 Active 11 DOM
6. 2026-06-13
   days on market $160,000 Active 9 DOM
7. 2026-06-13
   days on market $160,000 Active 8 DOM
8. 2026-06-09
   days on market $160,000 Active 5 DOM
9. 2026-06-08
   days on market $160,000 Active 4 DOM
10. 2026-06-07
    remarks 405-char remark
11. 2026-06-07
    listed $160,000 Active 3 DOM

ⓘ 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: $3,300 · $275/mo
• Projected year-2 tax: $3,300 · $275/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 ≥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: $29,916
• − Mortgage interest: −$8,962
• − Property taxes: −$3,300
• − Insurance: −$800
• − Repairs & maintenance: −$2,393
• − Management: −$2,393
• − Depreciation: −$4,655
• Taxable income: $7,413
• Est. tax owed @ 24.0%: −$1,779
• After-tax cash flow: $7,686/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

-9.1% since first listed

12 events — show timeline

• 2026-06-05 Listed for Rent $1,000 REALCOMP
• 2026-06-05 Rental Removed $1,000 REALSOURCE
• 2026-06-04 Listed $160,000 MiRealSource-MiMLS
• 2026-06-04 Listed $160,000 REALCOMP
• 2026-06-02 Listed for Rent $1,000 REALSOURCE
• 2026-05-14 Rental Removed $1,000 REALSOURCE
• 2026-05-06 Listed for Rent $1,000 REALSOURCE
• 2024-09-04 Rental Removed $1,000 REALSOURCE
• 2024-08-27 Listed for Rent $1,000 REALSOURCE
• 2024-06-14 Rental Removed $1,000 REALSOURCE
• 2024-06-04 Price Changed $1,000 REALSOURCE
• 2024-05-23 Listed for Rent $1,100 REALSOURCE

Property tax history

+7.7%/yr

Latest (2025): $3,300 · +158.2% YoY. Source: county tax records.