2986 Cadillac Blvd · Detroit, MI 48214

$99,000

3 bd · 1.0 ba · 676 sqft · SingleFamily public records · 160 Days on market

Built 1910 6,098 sqft lot $146/sqft · 131% above area Est $109k · 9% 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 +11.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 to renovate an American four square home in Detroit's East Village. Home has been demo'd and ready for a complete rehab. This floor plan has become very popular in this area and has proven to bring high return. Lots of development happening in the area and walkable to some of West Villages best retail on Kercheval corridor.

Key facts

• Complete rehab
• Walkable to retail
• 6,098 sq ft lot

Tags

• AMERICAN FOUR SQUARE HOME
• COMPLETE REHAB
• WALKABLE TO RETAIL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: 298 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,557/mo this rent would consume 56% of the median local household income ($34k/yr) (locally 1364% 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 $684 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 + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 15y 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 $225; list at $99k implies a 43900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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 1910 — 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: 1.57% ✓
• Cap rate: 13.94%
• Cash-on-cash: 27.31%
• DSCR: 2.22
• GRM: 5.3

CMA / ARV

• ARV (median comp): $108,605
• List price: $99,000
• Delta: -8.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.3%
• Equity multiple: 1.87×
• Total profit: $24,114
• Equity at exit: $14,761

10-year hold

• IRR: 29.4%
• Equity multiple: 3.62×
• Total profit: $72,627
• Equity at exit: $8,560

Cash invested: $27,720 (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 48214

• Active inventory: 298
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,557 high
• Mortgage (P&I): −$519
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $631

Break-even live

Break-even rent $759

Max offer price $99,000

Occupancy floor 54%

Sensitivity live

Price	-10% $687	-5% $659	+0% $631	+5% $603	+10% $575
Rent	-10% $508	-5% $569	+0% $631	+5% $692	+10% $754
Rate	-1.0pp $681	-0.5pp $656	base $631	+0.5pp $605	+1.0pp $579

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1130 Holcomb St Detroit, MI	2.0	1.0	550	$1,095	$1.99	2d	18	0.82mi
8925 E Jefferson Ave Detroit, MI	1.0–2.0	1.0–2.0	1050	$1,945	$1.85	44d	9	0.86mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	0d	3	0.97mi
1000 Van Dyke St Detroit, MI	1.0–2.0	1.0	751	$1,295	$1.72	44d	4	1.21mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	20d	20	1.33mi
320 E Grand Blvd Detroit, MI	1.0–2.0	1.0	534	$1,345	$2.52	44d	4	1.46mi
7800 E Jefferson Ave Detroit, MI	1.0–2.0	1.0	625	$899	$1.44	18d	1	1.47mi
7700 E Jefferson Ave Detroit, MI	2.0	1.0	877	$1,795	$2.05	44d	1	1.49mi

Listing history 42 events

1. 2026-06-18
   days on market $99,000 Active 160 DOM
2. 2026-06-17
   days on market $99,000 Active 159 DOM
3. 2026-06-15
   days on market $99,000 Active 157 DOM
4. 2026-06-13
   days on market $99,000 Active 155 DOM
5. 2026-06-13
   days on market $99,000 Active 154 DOM
6. 2026-06-09
   days on market $99,000 Active 151 DOM
7. 2026-06-08
   days on market $99,000 Active 150 DOM
8. 2026-06-07
   days on market $99,000 Active 149 DOM
9. 2026-06-04
   days on market $99,000 Active 146 DOM
10. 2026-06-03
    days on market $99,000 Active 145 DOM
11. 2026-06-01
    days on market $99,000 Active 143 DOM
12. 2026-05-31
    days on market $99,000 Active 142 DOM
13. 2026-01-09
    listed $99,000 Active 337-char remark

    Show marketing remark (337 chars)

    Opportunity to renovate an American four square home in Detroit's East Village. Home has been demo'd and ready for a complete rehab. This floor plan has become very popular in this area and has proven to bring high return. Lots of development happening in the area and walkable to some of West Villages best retail on Kercheval corridor.

14. 2026-01-09
    listed $99,000 Active 337-char remark

    Show marketing remark (337 chars)

    Opportunity to renovate an American four square home in Detroit's East Village. Home has been demo'd and ready for a complete rehab. This floor plan has become very popular in this area and has proven to bring high return. Lots of development happening in the area and walkable to some of West Villages best retail on Kercheval corridor.

15. 2025-12-03
    historical
16. 2025-09-24
    price $115,000
17. 2025-09-23
    price $115,000
18. 2025-08-11
    price $123,000
19. 2025-08-11
    price $123,000
20. 2025-06-10
    listed $130,000 Active
21. 2025-06-10
    listed $130,000 Active
22. 2025-06-01
    historical
23. 2025-06-01
    historical
24. 2025-01-10
    price $129,900
25. 2025-01-09
    price $129,900
26. 2024-10-01
    price $139,900
27. 2024-09-30
    price $139,900
28. 2024-09-12
    listed $150,000 Active
29. 2024-09-12
    listed $150,000 Active
30. 2012-09-27
    soldstatus $225
31. 2012-09-27
    soldstatus $225
32. 2012-08-17
    historical
33. 2012-07-19
    listed $225
34. 2012-07-09
    historical
35. 2012-07-09
    historical
36. 2012-03-21
    historical
37. 2012-03-21
    listed $225
38. 2012-03-21
    listed $225
39. 2012-03-21
    listed $225
40. 2012-03-20
    historical
41. 2011-12-28
    listed $2,900
42. 2011-12-22
    listed $2,900

ⓘ 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: $467 · $39/mo
• Projected year-2 tax: $996 · $83/mo
• Expected delta: +$529/yr (+$44/mo · 113.2%)

ⓘ 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 ≥96°F today · 15 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: $18,688
• − Mortgage interest: −$5,546
• − Property taxes: −$467
• − Insurance: −$495
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − Depreciation: −$2,880
• Taxable income: $6,310
• Est. tax owed @ 24.0%: −$1,514
• After-tax cash flow: $6,057/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

+3313.8% since first listed

30 events — show timeline

• 2026-01-09 Listed $99,000 REALCOMP
• 2026-01-09 Listed $99,000 MiRealSource-MiMLS
• 2025-12-03 Listing Removed — MiRealSource-MiMLS
• 2025-09-24 Price Changed $115,000 MiRealSource-MiMLS
• 2025-09-23 Price Changed $115,000 REALCOMP
• 2025-08-11 Price Changed $123,000 MiRealSource-MiMLS
• 2025-08-11 Price Changed $123,000 REALCOMP
• 2025-06-10 Listed $130,000 REALCOMP
• 2025-06-10 Listed $130,000 MiRealSource-MiMLS
• 2025-06-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-01 Listing Removed — REALCOMP
• 2025-01-10 Price Changed $129,900 MiRealSource-MiMLS
• 2025-01-09 Price Changed $129,900 REALCOMP
• 2024-10-01 Price Changed $139,900 MiRealSource-MiMLS
• 2024-09-30 Price Changed $139,900 REALCOMP
• 2024-09-12 Listed $150,000 MiRealSource-MiMLS
• 2024-09-12 Listed $150,000 REALCOMP
• 2012-09-27 Sold (MLS) $225 REALCOMP
• 2012-09-27 Sold (MLS) $225 MiRealSource-MiMLS
• 2012-08-17 Listing Removed — MiRealSource-MiMLS
• 2012-07-19 Listed $225 REALCOMP
• 2012-07-09 Listing Removed — MiRealSource-MiMLS
• 2012-07-09 Listing Removed — REALCOMP
• 2012-03-21 Listed $225 MiRealSource-MiMLS
• 2012-03-21 Listed $225 REALCOMP
• 2012-03-21 Listed $225 MiRealSource-MiMLS
• 2012-03-21 Listing Removed — MiRealSource-MiMLS
• 2012-03-20 Listing Removed — REALCOMP
• 2011-12-28 Listed $2,900 MiRealSource-MiMLS
• 2011-12-22 Listed $2,900 REALCOMP

Property tax history

+9.8%/yr

Latest (2025): $467 · -52.4% YoY. Source: county tax records.