1508 Montclair St · Detroit, MI 48214

$225,000

4 bd · 2.5 ba · 2,470 sqft · MultiFamily public records · 30 Days on market

Built 1913 5,227 sqft lot

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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 +27.0/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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

Multi-family units

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

Listing remarks MLS

This beautifully maintained and updated two-family craftsman in the Marina District features endless preserved details alongside modern updates in the kitchens and bathrooms. Very fitting as a house-hack by living in one unit while renting the other, or great as an addition to a real estate portfolio in a surging neighborhood. Recently updated with new kitchens and bathrooms in each unit, this duplex offers two spacious two-bedroom/one-bathroom units, totaling nearly 2,500 square feet of living space. Each unit features original hardwood floors, wood trim, built-ins and fireplaces. Both units have separate basement spaces with newer HVAC. The upper unit is vacant for immediate occupancy. The lower unit is currently tenant-occupied through July 2026 for $1,250 per month, offering flexible options and immediate cash flow. Showings for the upper unit only. The lower unit will be shown only with accepted offer, out of respect for the tenant. Conveniently located near Jefferson Avenue and some of Detroit's biggest landmarks and staples, including Belle Isle, Pewabic Pottery, Rose's Fine Food, and the Shepherd arts complex with Father Forgive Me, Warda, and the It Takes A Village Skatepark designed by Tony Hawk.

Key facts

• 5,227 sq ft lot
• Built 1913
• Listed 29 days

Property features AI

Finance

• Financial info: Contains two 2-bedroom units (each ~1,235 finished sq. ft.); One unit type listed with actual rent of $1,250 and two units of that type

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income, multi-family property; Two levels
• Construction: Brick, stucco, and wood siding exterior; Brick/mortar foundation; Built living area above grade: 2,470 square feet
• Exterior features: Paved road access; Pets allowed

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms and one half bathroom (property total)
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% 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: 298 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,589/mo this rent would consume 93% 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 $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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 $148k; list at $225k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

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 1913 — 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: 1.15% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $44,460
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2257 Cadillac Blvd	0.49mi	4/2.5	2,569 (+4%)	6mo	$45,000	$18	65
3068 Bewick St	0.66mi	4/2.5	2,440 (-1%)	7mo	$5,000	$2	61
3469 Montclair St	0.70mi	4/2.5	2,169 (-12%)	12mo	$25,000	$12	37
2947 Bewick St	0.57mi	5/2.0 (+1)	2,190 (-11%)	22mo	$50,000	$23	29

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $3,743
• Equity at exit: $33,548

10-year hold

• IRR: 11.1%
• Equity multiple: 1.87×
• Total profit: $54,894
• Equity at exit: $19,454

Cash invested: $63,000 (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 48214

• Active inventory: 298
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,589 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $632

Break-even live

Break-even rent $1,789

Max offer price $225,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,590
Total (2 units)			$2,589

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2174 Springle St Detroit, MI	3.0	1.0	2256	$1,150	$0.51	1d	1	1.13mi
4510 Harding St Detroit, MI	3.0	1.0	2394	$1,500	$0.63	17d	1	1.29mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	19d	20	1.35mi

Listing history 32 events

1. 2026-06-18
   days on market $225,000 Active 30 DOM
2. 2026-06-17
   days on market $225,000 Active 29 DOM
3. 2026-06-15
   days on market $225,000 Active 27 DOM
4. 2026-06-13
   days on market $225,000 Active 25 DOM
5. 2026-06-13
   days on market $225,000 Active 24 DOM
6. 2026-06-09
   days on market $225,000 Active 21 DOM
7. 2026-06-08
   days on market $225,000 Active 20 DOM
8. 2026-06-07
   statusdays on market $225,000 Active 19 DOM
9. 2026-06-04
   days on market $225,000 Active Under Contract 16 DOM
10. 2026-06-03
    days on market $225,000 Active Under Contract 15 DOM
11. 2026-06-02
    days on market $225,000 Active Under Contract 14 DOM
12. 2026-06-01
    days on market $225,000 Active Under Contract 13 DOM
13. 2026-05-31
    days on market $225,000 Active Under Contract 12 DOM
14. 2026-05-20
    listed $225,000 Active 1225-char remark

    Show marketing remark (1225 chars)

    This beautifully maintained and updated two-family craftsman in the Marina District features endless preserved details alongside modern updates in the kitchens and bathrooms. Very fitting as a house-hack by living in one unit while renting the other, or great as an addition to a real estate portfolio in a surging neighborhood. Recently updated with new kitchens and bathrooms in each unit, this duplex offers two spacious two-bedroom/one-bathroom units, totaling nearly 2,500 square feet of living space. Each unit features original hardwood floors, wood trim, built-ins and fireplaces. Both units have separate basement spaces with newer HVAC. The upper unit is vacant for immediate occupancy. The lower unit is currently tenant-occupied through July 2026 for $1,250 per month, offering flexible options and immediate cash flow. Showings for the upper unit only. The lower unit will be shown only with accepted offer, out of respect for the tenant. Conveniently located near Jefferson Avenue and some of Detroit's biggest landmarks and staples, including Belle Isle, Pewabic Pottery, Rose's Fine Food, and the Shepherd arts complex with Father Forgive Me, Warda, and the It Takes A Village Skatepark designed by Tony Hawk.

15. 2026-05-20
    listed $225,000 Active

    Show marketing remark (1225 chars)

    This beautifully maintained and updated two-family craftsman in the Marina District features endless preserved details alongside modern updates in the kitchens and bathrooms. Very fitting as a house-hack by living in one unit while renting the other, or great as an addition to a real estate portfolio in a surging neighborhood. Recently updated with new kitchens and bathrooms in each unit, this duplex offers two spacious two-bedroom/one-bathroom units, totaling nearly 2,500 square feet of living space. Each unit features original hardwood floors, wood trim, built-ins and fireplaces. Both units have separate basement spaces with newer HVAC. The upper unit is vacant for immediate occupancy. The lower unit is currently tenant-occupied through July 2026 for $1,250 per month, offering flexible options and immediate cash flow. Showings for the upper unit only. The lower unit will be shown only with accepted offer, out of respect for the tenant. Conveniently located near Jefferson Avenue and some of Detroit's biggest landmarks and staples, including Belle Isle, Pewabic Pottery, Rose's Fine Food, and the Shepherd arts complex with Father Forgive Me, Warda, and the It Takes A Village Skatepark designed by Tony Hawk.

16. 2026-05-19
    historical $225,000 1225-char remark

    Show marketing remark (1225 chars)

    This beautifully maintained and updated two-family craftsman in the Marina District features endless preserved details alongside modern updates in the kitchens and bathrooms. Very fitting as a house-hack by living in one unit while renting the other, or great as an addition to a real estate portfolio in a surging neighborhood. Recently updated with new kitchens and bathrooms in each unit, this duplex offers two spacious two-bedroom/one-bathroom units, totaling nearly 2,500 square feet of living space. Each unit features original hardwood floors, wood trim, built-ins and fireplaces. Both units have separate basement spaces with newer HVAC. The upper unit is vacant for immediate occupancy. The lower unit is currently tenant-occupied through July 2026 for $1,250 per month, offering flexible options and immediate cash flow. Showings for the upper unit only. The lower unit will be shown only with accepted offer, out of respect for the tenant. Conveniently located near Jefferson Avenue and some of Detroit's biggest landmarks and staples, including Belle Isle, Pewabic Pottery, Rose's Fine Food, and the Shepherd arts complex with Father Forgive Me, Warda, and the It Takes A Village Skatepark designed by Tony Hawk.

17. 2022-06-13
    soldstatus $147,500
18. 2022-06-03
    soldstatus $147,500 Sold 394-char remark

    Show marketing remark (394 chars)

    Check out this beautiful duplex that is right around the corner from Rose's Fine Foods that has kept its original charm and has been well maintained. This home has an newer roof, plumbing and electrical. Both units are occupied with the upper tenant having a year lease and the lower tenant being month to month. Please do not disturb the tenants. Upper unit pays $725 and lower unit pays $650.

19. 2022-06-03
    soldstatus $147,500 Closed

    Show marketing remark (394 chars)

    Check out this beautiful duplex that is right around the corner from Rose's Fine Foods that has kept its original charm and has been well maintained. This home has an newer roof, plumbing and electrical. Both units are occupied with the upper tenant having a year lease and the lower tenant being month to month. Please do not disturb the tenants. Upper unit pays $725 and lower unit pays $650.

20. 2022-05-16
    historical Accepting Backup Offers

    Show marketing remark (394 chars)

    Check out this beautiful duplex that is right around the corner from Rose's Fine Foods that has kept its original charm and has been well maintained. This home has an newer roof, plumbing and electrical. Both units are occupied with the upper tenant having a year lease and the lower tenant being month to month. Please do not disturb the tenants. Upper unit pays $725 and lower unit pays $650.

21. 2022-05-16
    historical Accepting Backup Offers 394-char remark

    Show marketing remark (394 chars)

    Check out this beautiful duplex that is right around the corner from Rose's Fine Foods that has kept its original charm and has been well maintained. This home has an newer roof, plumbing and electrical. Both units are occupied with the upper tenant having a year lease and the lower tenant being month to month. Please do not disturb the tenants. Upper unit pays $725 and lower unit pays $650.

22. 2022-04-14
    listed $155,000 Active 394-char remark

    Show marketing remark (394 chars)

    Check out this beautiful duplex that is right around the corner from Rose's Fine Foods that has kept its original charm and has been well maintained. This home has an newer roof, plumbing and electrical. Both units are occupied with the upper tenant having a year lease and the lower tenant being month to month. Please do not disturb the tenants. Upper unit pays $725 and lower unit pays $650.

23. 2022-04-14
    listed $155,000 Active

    Show marketing remark (394 chars)

    Check out this beautiful duplex that is right around the corner from Rose's Fine Foods that has kept its original charm and has been well maintained. This home has an newer roof, plumbing and electrical. Both units are occupied with the upper tenant having a year lease and the lower tenant being month to month. Please do not disturb the tenants. Upper unit pays $725 and lower unit pays $650.

24. 2020-02-04
    soldstatus $110,000
25. 2020-01-24
    soldstatus $110,000 Sold
26. 2020-01-24
    soldstatus $110,000 Closed
27. 2020-01-03
    status Pending
28. 2020-01-02
    historical
29. 2019-11-30
    status Pending
30. 2019-11-30
    status Pending
31. 2019-11-19
    listed $125,000 Active
32. 2019-11-19
    listed $125,000 Active

ⓘ 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: $1,676 · $140/mo
• Projected year-2 tax: $2,570 · $214/mo
• Expected delta: +$895/yr (+$75/mo · 53.4%)

ⓘ 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: $31,068
• − Mortgage interest: −$12,603
• − Property taxes: −$1,676
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,485
• − Management: −$2,485
• − Depreciation: −$6,545
• Taxable income: $4,147
• Est. tax owed @ 24.0%: −$995
• After-tax cash flow: $6,588/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

+80.0% since first listed

19 events — show timeline

• 2026-05-20 Listed $225,000 MiRealSource-MiMLS
• 2026-05-20 Listed $225,000 REALCOMP
• 2026-05-19 Coming Soon $225,000 MiRealSource-MiMLS
• 2022-06-13 Sold (Public Records) $147,500 Public Records
• 2022-06-03 Sold (MLS) $147,500 MiRealSource-MiMLS
• 2022-06-03 Sold (MLS) $147,500 REALCOMP
• 2022-05-16 Contingent — MiRealSource-MiMLS
• 2022-05-16 Contingent — REALCOMP
• 2022-04-14 Listed $155,000 MiRealSource-MiMLS
• 2022-04-14 Listed $155,000 REALCOMP
• 2020-02-04 Sold (Public Records) $110,000 Public Records
• 2020-01-24 Sold (MLS) $110,000 MiRealSource-MiMLS
• 2020-01-24 Sold (MLS) $110,000 REALCOMP
• 2020-01-03 Pending — REALCOMP
• 2020-01-02 Listing Removed — REALCOMP
• 2019-11-30 Pending — MiRealSource-MiMLS
• 2019-11-30 Pending — REALCOMP
• 2019-11-19 Listed $125,000 MiRealSource-MiMLS
• 2019-11-19 Listed $125,000 REALCOMP

Property tax history

+11.3%/yr

Latest (2025): $1,676 · -9.0% YoY. Source: county tax records.