3226 Carter St · Detroit, MI 48206

$1,200

4 bd · 2.0 ba · 2,100 sqft · Townhouse public records · 58 Days on market

Built 1919 3,049 sqft lot $1/sqft · 99% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sharp, move-in ready UPPER unit in a duplex located in Detroit's Jamieson neighborhood. Recently updated with all new flooring and fresh paint, plus updated plumbing fixtures for a fresh, modern feel. Unit will include a range/oven and refrigerator at time of lease. Tenant enjoys 1/2 of the basement for storage, along with laundry hookups for convenience. Don't miss this well-maintained property with functional layout and practical amenities - ideal for tenants seeking an updated, low maintenance living space. Tenant(s) responsible for all utilities except water/sewer. Enjoy the convenience of nearby restaurants, highway access, and city entertainment. BATVAI Minimum 12 mos. lease. Security Deposit = 1.5 month's rent. $300 nonrefundable cleaning fee.

Key facts

• Fresh paint
• Updated flooring
• Basement for storage

Tags

• MOVE IN READY
• UPDATED FLOORING
• FRESH PAINT
• UPDATED PLUMBING FIXTURES
• BASEMENT FOR STORAGE
• LAUNDRY HOOKUPS

🏷️ Possibly a rental listed for sale. The $1,200 price doesn't fit this home's estimated sale value (~$44,506) 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/2.0-bath townhouse listed at $1k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1k).
• Recommended offer: $1k (3.0% below list) — sets the bar for market timing.
• Cap rate 1503.1% 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 (+5.2%/yr); 271 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,905/mo this rent would consume 51% of the median local household income ($45k/yr) (locally 646% 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 $8 of loan paydown is wiped out by about $36 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 + 5.2% rent growth), your $336 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($1k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,164 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1919 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 158.76% ✓
• Cap rate: 1503.05%
• Cash-on-cash: 5345.57%
• DSCR: 238.85
• GRM: 0.1

CMA / ARV

• ARV (median comp): $44,506
• List price: $1,200
• Delta: -97.30%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 297.05×
• Total profit: $99,473
• Equity at exit: $179

10-year hold

• IRR: —
• Equity multiple: 679.53×
• Total profit: $227,987
• Equity at exit: $104

Cash invested: $336 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,905 high
• Mortgage (P&I): −$6
• Tax est. 1.5%: −$2 /mo · $18/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $1,497

Break-even live

Break-even rent $10

Max offer price $1,200

Occupancy floor 16%

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: $300
• Closing costs: $36
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	0.24mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	0.32mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	1d	1	0.42mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	0.48mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	0.48mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	43d	1	0.48mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.53mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	1d	1	0.53mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	0.53mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	24d	1	0.58mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	1d	1	0.70mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	0.72mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.75mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,523	$1.07	4d	1	0.82mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	0.82mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	0.82mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	0.83mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.98mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.98mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	0.98mi
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	16d	1	1.03mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	14d	1	1.09mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.14mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.19mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	43d	1	1.21mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	16d	1	1.24mi

Listing history 30 events

1. 2026-06-18
   days on market $1,200 Active 58 DOM
2. 2026-06-17
   days on market $1,200 Active 57 DOM
3. 2026-06-15
   days on market $1,200 Active 55 DOM
4. 2026-06-13
   days on market $1,200 Active 53 DOM
5. 2026-06-13
   days on market $1,200 Active 52 DOM
6. 2026-06-09
   days on market $1,200 Active 49 DOM
7. 2026-06-08
   days on market $1,200 Active 48 DOM
8. 2026-06-07
   days on market $1,200 Active 47 DOM
9. 2026-06-04
   days on market $1,200 Active 44 DOM
10. 2026-06-03
    days on market $1,200 Active 43 DOM
11. 2026-06-02
    days on market $1,200 Active 42 DOM
12. 2026-06-01
    days on market $1,200 Active 41 DOM
13. 2026-05-31
    days on market $1,200 Active 40 DOM
14. 2026-04-21
    listed $1,200 Active 760-char remark

    Show marketing remark (760 chars)

    Sharp, move-in ready UPPER unit in a duplex located in Detroit's Jamieson neighborhood. Recently updated with all new flooring and fresh paint, plus updated plumbing fixtures for a fresh, modern feel. Unit will include a range/oven and refrigerator at time of lease. Tenant enjoys 1/2 of the basement for storage, along with laundry hookups for convenience. Don't miss this well-maintained property with functional layout and practical amenities - ideal for tenants seeking an updated, low maintenance living space. Tenant(s) responsible for all utilities except water/sewer. Enjoy the convenience of nearby restaurants, highway access, and city entertainment. BATVAI Minimum 12 mos. lease. Security Deposit = 1.5 month's rent. $300 nonrefundable cleaning fee.

15. 2025-07-14
    soldstatus $115,000
16. 2025-07-08
    soldstatus $115,000 Closed 200-char remark

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

17. 2025-07-08
    soldstatus $115,000 Closed

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

18. 2025-06-17
    status Pending

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

19. 2025-06-17
    status Pending 200-char remark

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

20. 2025-05-19
    status Active

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

21. 2025-05-19
    status Active 200-char remark

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

22. 2025-05-02
    status Pending

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

23. 2025-05-02
    status Pending 200-char remark

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

24. 2025-04-24
    listed $130,000 Active 200-char remark

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

25. 2025-04-24
    listed $130,000 Active

    Show marketing remark (200 chars)

    LOCTION LOCATION LOCATION !!! MANEY MAKER !!!!Great investment property!!! Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

26. 2021-09-21
    soldstatus $120,000
27. 2015-04-17
    historical
28. 2015-04-01
    historical
29. 2014-10-20
    listed $10,000
30. 2014-10-20
    listed $10,000 Active

ⓘ 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: $22,862
• − Mortgage interest: −$67
• − Property taxes: −$18
• − Insurance: −$6
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − Depreciation: −$35
• Taxable income: $19,078
• Est. tax owed @ 24.0%: −$4,579
• After-tax cash flow: $13,382/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

-88.0% since first listed

17 events — show timeline

• 2026-04-21 Listed $1,200 REALCOMP
• 2025-07-14 Sold (Public Records) $115,000 Public Records
• 2025-07-08 Sold (MLS) $115,000 MiRealSource-MiMLS
• 2025-07-08 Sold (MLS) $115,000 REALCOMP
• 2025-06-17 Pending — MiRealSource-MiMLS
• 2025-06-17 Pending — REALCOMP
• 2025-05-19 Relisted — MiRealSource-MiMLS
• 2025-05-19 Relisted — REALCOMP
• 2025-05-02 Pending — MiRealSource-MiMLS
• 2025-05-02 Pending — REALCOMP
• 2025-04-24 Listed $130,000 REALCOMP
• 2025-04-24 Listed $130,000 MiRealSource-MiMLS
• 2021-09-21 Sold (Public Records) $120,000 Public Records
• 2015-04-17 Listing Removed — MiRealSource-MiMLS
• 2015-04-01 Listing Removed — REALCOMP
• 2014-10-20 Listed $10,000 REALCOMP
• 2014-10-20 Listed $10,000 MiRealSource-MiMLS

Property tax history

+6.1%/yr

Latest (2025): $1,582 · -8.9% YoY. Source: county tax records.