14566 Promenade St · Detroit, MI 48213

$80,000

2 bd · 1.0 ba · 786 sqft · SingleFamily public records · 6 Days on market

Built 1940 4,792 sqft lot

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

UPDATED TWO BEDROOM, FULL BASEMENT, REMODELED PROPERTY. GREAT STARTER HOME

Key facts

• 4,792 sq ft lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached garage facing the front; Approximately 1.5 garage spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Single-family residence; One level with ground-level entry
• Construction: Brick construction; Block foundation; Built area above grade about 786 square feet
• Exterior features: Paved road access; Lot measures approximately 35 x 130 (0.11 acre)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air cooling
• Interior features: Unfurnished; Fireplace in the living room; Unfinished basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

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: 192 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 41% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.28%
• DSCR: 1.90
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $36,942
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14531 Promenade St	0.05mi	2/1.0	741 (-6%)	8mo	$19,000	$26	81
14981 Flanders St	0.45mi	2/1.0	755 (-4%)	1mo	$30,005	$40	71
15001 Flanders St	0.46mi	2/1.0	769 (-2%)	6mo	$80,000	$104	70
9802 Philip St	0.23mi	3/1.0 (+1)	802 (+2%)	15mo	$27,000	$34	68
10441 Bonita St	0.37mi	3/1.0 (+1)	800 (+2%)	18mo	$47,500	$59	59
11330 Stockwell St	0.51mi	2/1.0	766 (-2%)	18mo	$83,000	$108	57
9459 Lakepointe St	0.52mi	3/1.0 (+1)	855 (+9%)	2mo	$40,000	$47	55
12641 Kelly Rd	0.74mi	2/1.0	840 (+7%)	4mo	$15,000	$18	50
14227 Elmdale St	0.32mi	3/1.0 (+1)	880 (+12%)	13mo	$27,000	$31	50
9833 Berkshire St	0.64mi	2/1.0	819 (+4%)	16mo	$17,000	$21	50
9755 Somerset Ave	0.74mi	2/1.0	852 (+8%)	15mo	$65,000	$76	39
13305 Wilfred St	0.63mi	2/1.5	863 (+10%)	18mo	$43,000	$50	37

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: 12.5%
• Equity multiple: 1.50×
• Total profit: $11,149
• Equity at exit: $11,928

10-year hold

• IRR: 21.4%
• Equity multiple: 2.82×
• Total profit: $40,772
• Equity at exit: $6,917

Cash invested: $22,400 (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 48213

• Active inventory: 192
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$420
• Tax from tax record: −$80 /mo · $965/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $379

Break-even live

Break-even rent $675

Max offer price $80,000

Occupancy floor 62%

Sensitivity live

Price	-10% $424	-5% $401	+0% $379	+5% $356	+10% $333
Rent	-10% $287	-5% $333	+0% $379	+5% $424	+10% $470
Rate	-1.0pp $419	-0.5pp $399	base $379	+0.5pp $358	+1.0pp $337

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	45d	1	0.40mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.44mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.46mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	16d	1	0.50mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	0.53mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.53mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	0.63mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	6d	1	0.67mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	45d	1	0.74mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	45d	1	0.79mi
15238 Seymour St Detroit, MI	3.0	1.0	1064	$1,300	$1.22	0d	1	0.91mi
14103 Rochelle Ave Unit 3 Detroit, MI	1.0	1.0	700	$800	$1.14	45d	1	0.91mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	5d	1	0.96mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,225	$1.11	0d	1	0.97mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	1.03mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.08mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	45d	1	1.08mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	45d	1	1.09mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	1.14mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	45d	1	1.18mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	1.22mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.24mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	1.25mi
5076 Chalmers St Unit 5074 Detroit, MI	1.0	1.0	700	$925	$1.32	25d	1	1.26mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.29mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	19d	1	1.30mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	14d	1	1.30mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	1.31mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	1.34mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	1.36mi
5025 Somerset Ave Detroit, MI	1.0	1.0	772	$900	$1.17	45d	1	1.36mi
5284 Devonshire Rd Unit 2 Detroit, MI	1.0	1.0	750	$1,050	$1.40	16d	1	1.37mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	1.37mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	45d	1	1.39mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	1.39mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	1.41mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	45d	1	1.42mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	14d	1	1.43mi
5856 Barrett St Unit 1 Detroit, MI	3.0	1.0	1070	$1,000	$0.93	0d	1	1.46mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	16d	1	1.47mi

Listing history 5 events

1. 2026-06-21
   days on market $80,000 Active 6 DOM
2. 2026-06-18
   days on market $80,000 Active 3 DOM
3. 2026-06-17
   days on market $80,000 Active 2 DOM
4. 2026-06-15
   remarks 75-char remark

   Show marketing remark (74 chars)

   UPDATED TWO BEDROOM, FULL BASEMENT, REMODELED PROPERTY. GREAT STARTER HOME

5. 2026-06-15
   listed $80,000 Active 1 DOM

   Show marketing remark (74 chars)

   UPDATED TWO BEDROOM, FULL BASEMENT, REMODELED PROPERTY. GREAT STARTER HOME

ⓘ 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: $965 · $80/mo
• Projected year-2 tax: $1,098 · $92/mo
• Expected delta: +$134/yr (+$11/mo · 13.9%)

ⓘ 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 ≥95°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: $13,849
• − Mortgage interest: −$4,481
• − Property taxes: −$965
• − Insurance: −$400
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$2,327
• Taxable income: $3,460
• Est. tax owed @ 24.0%: −$830
• After-tax cash flow: $3,712/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-15 Listed $80,000 REALCOMP
• 2026-06-15 Listed $80,000 MiRealSource-MiMLS

Property tax history

-2.4%/yr

Latest (2025): $965 · +0.6% YoY. Source: county tax records.