14800 E Vernor Hwy · Detroit, MI 48215

$650,000

63 bd · 81.0 ba · 7,000 sqft · MultiFamily · 9 Days on market

Built 1925 Fair condition 3,049 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

14800 E Vernor Hwy | Value-Add Multifamily - East Detroit / Grosse Pointe Park Border Rare value-add multifamily opportunity on the Vernor corridor, minutes from Grosse Pointe Park. Acquire at a Detroit basis while tapping the rent stability and demand of one of metro Detroit's most established affluent border communities. This 9 -unit brick building, originally built in 1925, anchors a hard corner at Vernor Hwy & Ashland St - strong visibility, high traffic counts, and the durable pre-war masonry construction that's costly to replicate today. The asset is mid-reposition under recent construction financing, giving investors a path to stabilized cash flow without starting cold. Why buyers should move: Detroit acquisition basis with Grosse Pointe Park demand spillover Hard-corner site on a major east-side thoroughfare (MLS Area 05066) units with significant rent upside to market on turnover In-place income today, value-add upside tomorrow FEMA Flood Zone X - outside the high-risk floodplain, lower insurance, cleaner financing Strong access to Mack Ave retail, Alter Rd, and downtown Detroit Detroit's east side is moving, and corridor-fronting multifamily this close to the Pointes doesn't last. Offering memorandum, rent roll, and financials available to qualified buyers on request.

Key facts

• Hard-corner site
• Strong visibility
• High traffic counts

Tags

• VALUE-ADD MULTIFAMILY
• STRONG VISIBILITY
• HIGH TRAFFIC COUNTS
• PRE-WAR MASONRY CONSTRUCTION
• HARD-CORNER SITE
• SIGNIFICANT RENT UPSIDE

Property features AI

Finance

• Financial info: Multi-family income property with unit mix including two units at 375 sq ft (1 bath) and seven 1-bedroom units at 500 sq ft (1 bath). One unit type reported actual rent of $700.

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric with circuit breakers and 220V service
• Home design: Residential income property (multi-family)
• Construction: Brick construction; Brick/mortar foundation; Asphalt roof; Approximately 6,000 sq ft above grade finished and 1,000 sq ft below grade finished
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: Nine full bathrooms (total property)
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Partially finished basement

What this means for you Summary

Snapshot

• This is a 9 × 7-bed/9.0-bath units multifamily listed at $650k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $6k ($69k/yr) — positive. Per door: $635/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $650k).
• Cap rate 16.8% 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; 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 $4k of loan paydown is wiped out by about $20k 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 $182k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 9y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $650,000

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.99% ✓
• Cap rate: 16.84%
• Cash-on-cash: 37.66%
• DSCR: 2.68
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 33.7%
• Equity multiple: 2.42×
• Total profit: $258,694
• Equity at exit: $96,917

10-year hold

• IRR: 40.6%
• Equity multiple: 4.82×
• Total profit: $694,544
• Equity at exit: $56,200

Cash invested: $182,000 (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: 37.7×

Monthly cashflow live

• Estimated rent: $12,917 medium
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,713
• Net cashflow: $5,712

Break-even live

Break-even rent $5,686

Max offer price $650,000

Occupancy floor 51%

Sensitivity live

Price	-10% $6,162	-5% $5,937	+0% $5,712	+5% $5,488	+10% $5,263
Rent	-10% $4,692	-5% $5,202	+0% $5,712	+5% $6,223	+10% $6,733
Rate	-1.0pp $6,040	-0.5pp $5,878	base $5,712	+0.5pp $5,544	+1.0pp $5,373

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

Units	Beds	Baths	Est. rent
▸ 9× units	7	9	$12,915
Total (9 units)			$12,917

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-17
   days on market $650,000 Active 9 DOM
2. 2026-06-16
   days on market $650,000 Active 8 DOM
3. 2026-06-15
   days on market $650,000 Active 7 DOM
4. 2026-06-13
   days on market $650,000 Active 5 DOM
5. 2026-06-13
   days on market $650,000 Active 4 DOM
6. 2026-06-08
   remarks 683-char remark

   Show marketing remark (1310 chars)

   14800 E Vernor Hwy | Value-Add Multifamily - East Detroit / Grosse Pointe Park Border Rare value-add multifamily opportunity on the Vernor corridor, minutes from Grosse Pointe Park. Acquire at a Detroit basis while tapping the rent stability and demand of one of metro Detroit's most established affluent border communities. This 9 -unit brick building, originally built in 1925, anchors a hard corner at Vernor Hwy & Ashland St - strong visibility, high traffic counts, and the durable pre-war masonry construction that's costly to replicate today. The asset is mid-reposition under recent construction financing, giving investors a path to stabilized cash flow without starting cold. Why buyers should move: Detroit acquisition basis with Grosse Pointe Park demand spillover Hard-corner site on a major east-side thoroughfare (MLS Area 05066) units with significant rent upside to market on turnover In-place income today, value-add upside tomorrow FEMA Flood Zone X - outside the high-risk floodplain, lower insurance, cleaner financing Strong access to Mack Ave retail, Alter Rd, and downtown Detroit Detroit's east side is moving, and corridor-fronting multifamily this close to the Pointes doesn't last. Offering memorandum, rent roll, and financials available to qualified buyers on request.

7. 2026-06-08
   listed $650,000 Active 1 DOM

   Show marketing remark (1310 chars)

   14800 E Vernor Hwy | Value-Add Multifamily - East Detroit / Grosse Pointe Park Border Rare value-add multifamily opportunity on the Vernor corridor, minutes from Grosse Pointe Park. Acquire at a Detroit basis while tapping the rent stability and demand of one of metro Detroit's most established affluent border communities. This 9 -unit brick building, originally built in 1925, anchors a hard corner at Vernor Hwy & Ashland St - strong visibility, high traffic counts, and the durable pre-war masonry construction that's costly to replicate today. The asset is mid-reposition under recent construction financing, giving investors a path to stabilized cash flow without starting cold. Why buyers should move: Detroit acquisition basis with Grosse Pointe Park demand spillover Hard-corner site on a major east-side thoroughfare (MLS Area 05066) units with significant rent upside to market on turnover In-place income today, value-add upside tomorrow FEMA Flood Zone X - outside the high-risk floodplain, lower insurance, cleaner financing Strong access to Mack Ave retail, Alter Rd, and downtown Detroit Detroit's east side is moving, and corridor-fronting multifamily this close to the Pointes doesn't last. Offering memorandum, rent roll, and financials available to qualified buyers on request.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $155,004
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$12,400
• − Management: −$12,400
• − Depreciation: −$18,909
• Taxable income: $61,884
• Est. tax owed @ 24.0%: −$14,852
• After-tax cash flow: $53,697/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multifamily property, located in a desirable area, requires moderate repairs and maintenance to improve its condition and value. Upgrading the exterior, HVAC system, and landscaping would significantly enhance its appeal and marketability.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear, but still functional.
• Minor Bathroom tiles — Some discoloration, but still in good condition.
• Moderate Exterior paint — Visible discoloration and wear, needs repainting.
• Moderate Roof — Aged appearance, potential for leaks or damage.
• Moderate Flooring — Scratches and wear, needs refinishing or replacement.
• Moderate Interior walls — Minor scuffing and wear, needs touch-up painting.
• Minor Windows — Blinds present, but some may need cleaning or replacement.
• Moderate HVAC system — Age of the building suggests potential need for maintenance or replacement.

Value-add opportunities

• Resale Painting and updating the exterior — Fresh paint and updated exterior can significantly enhance curb appeal and resale value.
• Rental Upgrading the HVAC system — A reliable HVAC system is crucial for tenant satisfaction and can increase rental income.
• Both Landscaping and curb appeal improvements — Enhanced landscaping and curb appeal can attract more tenants and increase both resale and rental values.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear, but still functional.	Minor	$500–3,000
Bathroom tiles · Some discoloration, but still in good condition.	Minor	$500–3,000
Exterior paint · Visible discoloration and wear, needs repainting.	Moderate	$3,000–15,000
Roof · Aged appearance, potential for leaks or damage.	Moderate	$3,000–15,000
Flooring · Scratches and wear, needs refinishing or replacement.	Moderate	$3,000–15,000
Interior walls · Minor scuffing and wear, needs touch-up painting.	Moderate	$3,000–15,000
Windows · Blinds present, but some may need cleaning or replacement.	Minor	$500–3,000
HVAC system · Age of the building suggests potential need for maintenance or replacement.	Moderate	$3,000–15,000
Total estimated repair cost · 8 items		$16,500–84,000

Value-add ROI direction

• Resale Painting and updating the exterior — Fresh paint and updated exterior can significantly enhance curb appeal and resale value. ↑
• Rental Upgrading the HVAC system — A reliable HVAC system is crucial for tenant satisfaction and can increase rental income. ↑
• Both Landscaping and curb appeal improvements — Enhanced landscaping and curb appeal can attract more tenants and increase both resale and rental values. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+284.6% since first listed

25 events — show timeline

• 2026-06-08 Listed $650,000 REALCOMP
• 2026-06-08 Listed $650,000 MiRealSource-MiMLS
• 2024-08-30 Sold (MLS) $595,000 MiRealSource-MiMLS
• 2024-08-30 Sold (MLS) $595,000 REALCOMP
• 2024-07-12 Contingent — REALCOMP
• 2024-07-12 Contingent — MiRealSource-MiMLS
• 2024-06-23 Relisted — MiRealSource-MiMLS
• 2024-06-23 Relisted — REALCOMP
• 2024-05-29 Contingent — MiRealSource-MiMLS
• 2024-05-29 Contingent — REALCOMP
• 2024-05-03 Listed $595,000 MiRealSource-MiMLS
• 2024-05-03 Listed $595,000 REALCOMP
• 2024-04-27 Rental Removed $890 APPFOLIO
• 2024-04-12 Listed for Rent $890 APPFOLIO
• 2022-04-18 Price Changed $750 RENT.
• 2021-03-05 Sold (MLS) $425,000 MiRealSource-MiMLS
• 2021-03-05 Sold (MLS) $425,000 REALCOMP
• 2021-01-13 Pending — MiRealSource-MiMLS
• 2021-01-13 Pending — REALCOMP
• 2020-12-28 Contingent — MiRealSource-MiMLS
• 2020-12-28 Contingent — REALCOMP
• 2020-12-02 Listed $400,000 MiRealSource-MiMLS
• 2020-12-02 Listed $400,000 REALCOMP
• 2017-12-27 Listing Removed — MiRealSource-MiMLS
• 2017-12-01 Listed $169,000 MiRealSource-MiMLS