2580 Alter Rd · Detroit, MI 48215

$125,000

4 bd · 1.5 ba · 1,924 sqft · Townhouse public records · 198 Days on market

Built 1920 3,485 sqft lot $65/sqft · 61% below area

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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

Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

Key facts

• Superb location
• 3,485 sq ft lot
• Built 1920

Tags

• FULLY OCCUPIED DUPLEX
• SUPERB LOCATION

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$324,282) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

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; 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; 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 $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 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 1920 — 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: 1.13% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.95%
• DSCR: 1.40
• GRM: 7.4

CMA / ARV

• ARV (median comp): $324,282
• List price: $125,000
• Delta: -61.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Pointe Park Pl #303	0.66mi	3/2.0 (-1)	1,660 (-14%)	2mo	$365,000	$220	38
74 Pointe Park Pl	0.66mi	3/2.0 (-1)	1,658 (-14%)	2mo	$390,000	$235	38
32 Pointe Park Pl	0.66mi	3/2.0 (-1)	1,660 (-14%)	3mo	$380,000	$229	37
54 Pointe Park Pl	0.66mi	3/2.0 (-1)	1,661 (-14%)	5mo	$387,000	$233	36
58 Pointe Park Pl	0.60mi	3/2.0 (-1)	1,648 (-14%)	8mo	$365,000	$221	34
36 Pointe Park Place Pl	0.71mi	3/2.0 (-1)	1,658 (-14%)	8mo	$360,000	$217	31
24 Pointe Park Pl Unit 24, on 2nd Floor	0.65mi	3/2.0 (-1)	1,648 (-14%)	23mo	$385,000	$234	20
24 Pointe Park Pl	0.65mi	3/2.0 (-1)	1,648 (-14%)	23mo	$385,000	$234	20

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-3,617
• Equity at exit: $18,638

10-year hold

• IRR: 7.0%
• Equity multiple: 1.52×
• Total profit: $18,320
• Equity at exit: $10,808

Cash invested: $35,000 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$656
• Tax from tax record: −$148 /mo · $1,775/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $261

Break-even live

Break-even rent $1,083

Max offer price $125,000

Occupancy floor 77%

Sensitivity live

Price	-10% $332	-5% $296	+0% $261	+5% $226	+10% $190
Rent	-10% $149	-5% $205	+0% $261	+5% $317	+10% $373
Rate	-1.0pp $324	-0.5pp $293	base $261	+0.5pp $229	+1.0pp $196

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	45d	1	0.67mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	19d	1	0.70mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	45d	1	0.72mi
2174 Springle St Detroit, MI	3.0	1.0	2256	$1,150	$0.51	3d	1	0.85mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	45d	1	0.96mi
371 Piper Blvd Detroit, MI	3.0	1.5	2340	$2,000	$0.85	45d	1	1.41mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	1.44mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	19d	1	1.44mi

Listing history 36 events

1. 2026-06-21
   days on market $125,000 Active 198 DOM
2. 2026-06-18
   days on market $125,000 Active 195 DOM
3. 2026-06-17
   days on market $125,000 Active 194 DOM
4. 2026-06-15
   days on market $125,000 Active 192 DOM
5. 2026-06-13
   days on market $125,000 Active 190 DOM
6. 2026-06-13
   days on market $125,000 Active 189 DOM
7. 2026-06-09
   days on market $125,000 Active 186 DOM
8. 2026-06-08
   days on market $125,000 Active 185 DOM
9. 2026-06-07
   days on market $125,000 Active 184 DOM
10. 2026-06-04
    days on market $125,000 Active 181 DOM
11. 2026-06-03
    days on market $125,000 Active 180 DOM
12. 2026-06-01
    days on market $125,000 Active 178 DOM
13. 2026-05-31
    days on market $125,000 Active 177 DOM
14. 2026-05-01
    price $125,000 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

15. 2026-05-01
    price $125,000 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

16. 2026-03-02
    price $139,000 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

17. 2026-03-01
    price $139,000 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

18. 2026-01-21
    price $145,000 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

19. 2026-01-20
    price $145,000 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

20. 2025-12-05
    listed $150,000 Active 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

21. 2025-12-05
    listed $150,000 Active 336-char remark

    Show marketing remark (336 chars)

    Here is an investment opportunity near the border of Detroit and Grosse Pointe Park. Spacious upper / lower duplex currently occupied at 1330 / month. Single tenant occupies both units. Superb location one block for Grosse Pointe Park. Excellent opportunity for an investor looking to add value. Lease and ledger available upon request.

22. 2021-06-02
    soldstatus $85,000
23. 2017-04-27
    historical
24. 2017-04-27
    historical
25. 2017-03-07
    listed $600 Active
26. 2017-03-07
    listed $600 Active
27. 2015-10-20
    historical
28. 2015-10-15
    soldstatus $37,000 Sold
29. 2015-10-15
    soldstatus $37,000
30. 2015-10-09
    historical
31. 2015-09-22
    status Active
32. 2015-09-09
    historical
33. 2015-05-10
    listed $42,000 Active
34. 2015-04-01
    listed $42,000
35. 2013-11-12
    historical
36. 2013-08-12
    listed $38,000

ⓘ 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: $1,775 · $148/mo
• Projected year-2 tax: $1,850 · $154/mo
• Expected delta: +$75/yr (+$6/mo · 4.2%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,960
• − Mortgage interest: −$7,002
• − Property taxes: −$1,775
• − Insurance: −$625
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$3,636
• Taxable income: $1,208
• Est. tax owed @ 24.0%: −$290
• After-tax cash flow: $2,842/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

+228.9% since first listed

23 events — show timeline

• 2026-05-01 Price Changed $125,000 MiRealSource-MiMLS
• 2026-05-01 Price Changed $125,000 REALCOMP
• 2026-03-02 Price Changed $139,000 MiRealSource-MiMLS
• 2026-03-01 Price Changed $139,000 REALCOMP
• 2026-01-21 Price Changed $145,000 MiRealSource-MiMLS
• 2026-01-20 Price Changed $145,000 REALCOMP
• 2025-12-05 Listed $150,000 REALCOMP
• 2025-12-05 Listed $150,000 MiRealSource-MiMLS
• 2021-06-02 Sold (Public Records) $85,000 Public Records
• 2017-04-27 Listing Removed — REALCOMP
• 2017-04-27 Listing Removed — MiRealSource-MiMLS
• 2017-03-07 Listed $600 MiRealSource-MiMLS
• 2017-03-07 Listed $600 REALCOMP
• 2015-10-20 Listing Removed — REALCOMP
• 2015-10-15 Sold (MLS) $37,000 MiRealSource-MiMLS
• 2015-10-15 Sold (MLS) $37,000 REALCOMP
• 2015-10-09 Listing Removed — MiRealSource-MiMLS
• 2015-09-22 Relisted — REALCOMP
• 2015-09-09 Listing Removed — REALCOMP
• 2015-05-10 Listed $42,000 REALCOMP
• 2015-04-01 Listed $42,000 MiRealSource-MiMLS
• 2013-11-12 Listing Removed — MiRealSource-MiMLS
• 2013-08-12 Listed $38,000 MiRealSource-MiMLS

Property tax history

+6.9%/yr

Latest (2025): $1,775 · -34.4% YoY. Source: county tax records.