4810 Lenox St · Detroit, MI 48215

$99,900

5 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 52 Days on market

Built 1926 3,920 sqft lot $72/sqft · 24% above area Est $81k · 24% over

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

Key facts

• 3,920 sq ft lot
• Built 1926
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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: 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 52 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 19y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $100k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.70% ✓
• Cap rate: 14.17%
• Cash-on-cash: 28.15%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $80,711
• List price: $99,900
• Delta: 23.77%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5517 Drexel St	0.38mi	5/2.0	1,425 (+2%)	3mo	$65,000	$46	72
5764 Lenox St	0.56mi	4/1.0 (-1)	1,401 (+1%)	18mo	$85,000	$61	52
5550 Lenox St	0.41mi	4/3.0 (-1)	1,508 (+8%)	11mo	$179,900	$119	44
5568 Manistique St	0.72mi	4/2.5 (-1)	1,373 (-1%)	14mo	$145,000	$106	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 1.92×
• Total profit: $25,621
• Equity at exit: $14,895

10-year hold

• IRR: 30.4%
• Equity multiple: 3.72×
• Total profit: $76,208
• Equity at exit: $8,638

Cash invested: $27,972 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$119 /mo · $1,431/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $656

Break-even live

Break-even rent $867

Max offer price $99,900

Occupancy floor 56%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	43d	1	1.10mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	24d	1	1.11mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.40mi

Listing history 50 events

1. 2026-06-07
   days on market $99,900 Active 52 DOM
2. 2026-06-04
   days on market $99,900 Active 49 DOM
3. 2026-06-03
   days on market $99,900 Active 48 DOM
4. 2026-06-02
   days on market $99,900 Active 47 DOM
5. 2026-06-01
   days on market $99,900 Active 46 DOM
6. 2026-05-31
   days on market $99,900 Active 45 DOM
7. 2026-05-08
   price $99,900 360-char remark

   Show marketing remark (360 chars)

   Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

8. 2026-05-07
   price $99,900 360-char remark

   Show marketing remark (360 chars)

   Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

9. 2026-04-25
   price $104,900 360-char remark

   Show marketing remark (360 chars)

   Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

10. 2026-04-24
    price $104,900 360-char remark

    Show marketing remark (360 chars)

    Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

11. 2026-04-16
    listed $114,900 Active 360-char remark

    Show marketing remark (360 chars)

    Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

12. 2026-04-16
    listed $114,900 Active 360-char remark

    Show marketing remark (360 chars)

    Attention First time home owners and Investors ! Welcome to this beautifully updated 1,300+ sqft home, featuring 5 spacious bedrooms and 2 full bathrooms. Freshly painted and with brand-new flooring, this residence offers a modern and inviting atmosphere. Whether entertaining guests or enjoying quiet family moments, this home provides ample space and comfort

13. 2025-12-18
    historical
14. 2025-09-03
    price $109,900
15. 2025-09-02
    price $109,900
16. 2025-06-20
    price $114,900
17. 2025-06-19
    price $114,900
18. 2025-05-27
    listed $124,900 Active
19. 2025-05-27
    listed $124,900 Active
20. 2024-11-15
    historical
21. 2024-11-15
    historical
22. 2024-10-14
    price $135,000
23. 2024-10-14
    price $135,000
24. 2024-09-19
    listed $140,000 Active
25. 2024-09-19
    listed $140,000 Active
26. 2024-09-16
    historical
27. 2024-09-16
    historical
28. 2024-02-28
    soldstatus $46,500
29. 2024-02-21
    soldstatus $46,500 Sold
30. 2024-02-21
    soldstatus $46,500 Closed
31. 2024-01-18
    status Pending
32. 2024-01-18
    status Pending
33. 2023-11-21
    price $47,900
34. 2023-11-20
    price $47,900
35. 2023-11-15
    status Active
36. 2023-11-15
    status Active
37. 2023-11-01
    status Pending
38. 2023-11-01
    status Pending
39. 2023-10-12
    listed $50,000 Active
40. 2023-10-12
    listed $50,000 Active
41. 2018-09-10
    soldstatus $47,000
42. 2012-04-23
    historical
43. 2012-04-23
    historical
44. 2012-03-03
    historical
45. 2012-01-23
    listed $25,000
46. 2012-01-23
    listed $25,000
47. 2011-10-03
    listed $870
48. 2011-02-07
    historical
49. 2011-02-07
    historical
50. 2010-10-07
    listed $22,000

ⓘ 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: $1,431 · $119/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: +$54/yr (+$4/mo · 3.7%)

ⓘ 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: $20,368
• − Mortgage interest: −$5,596
• − Property taxes: −$1,431
• − Insurance: −$500
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$2,906
• Taxable income: $6,676
• Est. tax owed @ 24.0%: −$1,602
• After-tax cash flow: $6,271/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

+38.8% since first listed

56 events — show timeline

• 2026-05-08 Price Changed $99,900 MiRealSource-MiMLS
• 2026-05-07 Price Changed $99,900 REALCOMP
• 2026-04-25 Price Changed $104,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $104,900 REALCOMP
• 2026-04-16 Listed $114,900 REALCOMP
• 2026-04-16 Listed $114,900 MiRealSource-MiMLS
• 2025-12-18 Listing Removed — MiRealSource-MiMLS
• 2025-09-03 Price Changed $109,900 MiRealSource-MiMLS
• 2025-09-02 Price Changed $109,900 REALCOMP
• 2025-06-20 Price Changed $114,900 MiRealSource-MiMLS
• 2025-06-19 Price Changed $114,900 REALCOMP
• 2025-05-27 Listed $124,900 REALCOMP
• 2025-05-27 Listed $124,900 MiRealSource-MiMLS
• 2024-11-15 Listing Removed — MiRealSource-MiMLS
• 2024-11-15 Listing Removed — REALCOMP
• 2024-10-14 Price Changed $135,000 MiRealSource-MiMLS
• 2024-10-14 Price Changed $135,000 REALCOMP
• 2024-09-19 Listed $140,000 MiRealSource-MiMLS
• 2024-09-19 Listed $140,000 REALCOMP
• 2024-09-16 Coming Soon — REALCOMP
• 2024-09-16 Coming Soon — MiRealSource-MiMLS
• 2024-02-28 Sold (Public Records) $46,500 Public Records
• 2024-02-21 Sold (MLS) $46,500 MiRealSource-MiMLS
• 2024-02-21 Sold (MLS) $46,500 REALCOMP
• 2024-01-18 Pending — MiRealSource-MiMLS
• 2024-01-18 Pending — REALCOMP
• 2023-11-21 Price Changed $47,900 MiRealSource-MiMLS
• 2023-11-20 Price Changed $47,900 REALCOMP
• 2023-11-15 Relisted — MiRealSource-MiMLS
• 2023-11-15 Relisted — REALCOMP
• 2023-11-01 Pending — MiRealSource-MiMLS
• 2023-11-01 Pending — REALCOMP
• 2023-10-12 Listed $50,000 MiRealSource-MiMLS
• 2023-10-12 Listed $50,000 REALCOMP
• 2018-09-10 Sold (Public Records) $47,000 Public Records
• 2012-04-23 Listing Removed — REALCOMP
• 2012-04-23 Listing Removed — MiRealSource-MiMLS
• 2012-03-03 Listing Removed — MiRealSource-MiMLS
• 2012-01-23 Listed $25,000 REALCOMP
• 2012-01-23 Listed $25,000 MiRealSource-MiMLS
• 2011-10-03 Listed $870 MiRealSource-MiMLS
• 2011-02-07 Listing Removed — REALCOMP
• 2011-02-07 Listing Removed — MiRealSource-MiMLS
• 2010-10-07 Listed $22,000 REALCOMP
• 2010-10-07 Listed $22,000 MiRealSource-MiMLS
• 2008-04-29 Sold (MLS) $8,000 REALCOMP
• 2008-04-11 Listed $9,000 REALCOMP
• 2008-04-08 Listing Removed — REALCOMP
• 2008-04-02 Listed $9,000 REALCOMP
• 2008-02-26 Listing Removed — REALCOMP
• 2007-12-28 Listed $9,000 REALCOMP
• 2007-09-26 Listing Removed — REALCOMP
• 2007-09-26 Listing Removed — MiRealSource-MiMLS
• 2007-05-16 Listed $23,900 REALCOMP
• 2007-05-16 Listed $23,900 MiRealSource-MiMLS
• 2005-08-11 Sold (Public Records) $72,000 Public Records

Property tax history

+11.8%/yr

Latest (2025): $1,431 · +16.8% YoY. Source: county tax records.