443 Algonquin St · Detroit, MI 48215

$70,000

2 bd · 1.0 ba · 1,094 sqft · SingleFamily public records · 114 Days on market

Built 1925 3,485 sqft lot $64/sqft · 74% below area

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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
• 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 +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity! Strategically located between Downtown Detroit and the Pointes while being in close proximity to the Riverfront, Belle Isle, and countless developments. 2 bedroom, 1 bath basement tenant occupied. Newer furnace & hot water tank.

Key facts

• Side lot included
• Investor opportunity
• 3,485 sq ft lot

Tags

• INVESTOR OPPORTUNITY
• STRATEGICALLY LOCATED
• CLOSE PROXIMITY TO RIVERFRONT
• CLOSE PROXIMITY TO BELLE ISLE
• SIDE LOT INCLUDED

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$145,304) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $484 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.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $46k; list at $70k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.91% ✓
• Cap rate: 16.39%
• Cash-on-cash: 36.05%
• DSCR: 2.60
• GRM: 4.4

CMA / ARV

• ARV (median comp): $145,304
• List price: $70,000
• Delta: -51.83%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
444 Conner St	0.08mi	3/1.0 (+1)	1,148 (+5%)	1mo	$130,000	$113	82
462 Algonquin St	0.04mi	3/1.0 (+1)	1,176 (+8%)	20mo	$72,500	$62	64
785 Algonquin St	0.40mi	3/1.0 (+1)	1,101 (+1%)	22mo	$25,000	$23	57
396 Lenox St	0.30mi	3/2.0 (+1)	1,248 (+14%)	1mo	$249,000	$200	53
13137 Averhill Ct	0.31mi	3/1.0 (+1)	1,017 (-7%)	20mo	$145,000	$143	52
432 Eastlawn St	0.49mi	3/1.0 (+1)	1,230 (+12%)	2mo	$145,000	$118	50
265 Newport St	0.59mi	2/1.0	1,190 (+9%)	10mo	$95,000	$80	50
222 Lakewood St	0.70mi	3/2.5 (+1)	1,200 (+10%)	3mo	$194,800	$162	38

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-2,874
• Equity at exit: $10,437

10-year hold

• IRR: 6.2%
• Equity multiple: 1.47×
• Total profit: $9,219
• Equity at exit: $6,052

Cash invested: $19,600 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,340 high
• Mortgage (P&I): −$367
• Tax from tax record: −$73 /mo · $881/yr
• Insurance: −$29
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $128

Break-even live

Break-even rent $1,177

Max offer price $70,000

Occupancy floor 85%

Sensitivity live

Price	-10% $168	-5% $148	+0% $128	+5% $109	+10% $89
Rent	-10% $22	-5% $75	+0% $128	+5% $181	+10% $234
Rate	-1.0pp $164	-0.5pp $146	base $128	+0.5pp $110	+1.0pp $92

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13010 Avondale St Detroit, MI	1.0–2.0	1.0–2.0	1003	$1,725	$1.72	0d	1	0.27mi
13329 Averhill Ct Unit 1 Detroit, MI	2.0	1.0	1019	$1,100	$1.08	44d	1	0.43mi
1050 Lakewood St Unit 1S Detroit, MI	2.0	1.0	896	$1,100	$1.23	44d	1	0.86mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	44d	1	0.91mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	22d	1	0.99mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	24d	1	0.99mi
450 Marquette Dr Detroit, MI	2.0	1.0	972	$1,200	$1.23	21d	1	1.22mi
861 Beaconsfield Ave Grosse Pointe Park, MI	2.0	1.0	1300	$1,500	$1.15	13d	1	1.23mi
1042 Wayburn St Grosse Pointe Park, MI	3.0	1.0	1000	$1,575	$1.57	5d	1	1.25mi
981 Beaconsfield Ave Grosse Pointe Park, MI	2.0	1.0	1000	$1,095	$1.09	44d	1	1.29mi
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	25d	1	1.31mi
15224 E Jefferson Ave Grosse Pointe Park, MI	1.0	1.0	900	$1,200	$1.33	44d	1	1.31mi
1052 Beaconsfield Ave Grosse Pointe Park, MI	2.0	1.0	1000	$1,350	$1.35	18d	1	1.41mi
14800 Vernor Hwy Unit 9 Detroit, MI	1.0	1.0	800	$900	$1.12	44d	1	1.42mi
1127 Beaconsfield Ave Grosse Pointe Park, MI	1.0	1.0	700	$975	$1.39	44d	1	1.46mi

Listing history 22 events

1. 2026-06-18
   days on market $70,000 Active 114 DOM
2. 2026-06-17
   days on market $70,000 Active 113 DOM
3. 2026-06-15
   days on market $70,000 Active 111 DOM
4. 2026-06-13
   days on market $70,000 Active 109 DOM
5. 2026-06-13
   days on market $70,000 Active 108 DOM
6. 2026-06-09
   days on market $70,000 Active 105 DOM
7. 2026-06-08
   days on market $70,000 Active 104 DOM
8. 2026-06-07
   days on market $70,000 Active 103 DOM
9. 2026-06-04
   days on market $70,000 Active 100 DOM
10. 2026-06-03
    days on market $70,000 Active 99 DOM
11. 2026-06-01
    days on market $70,000 Active 97 DOM
12. 2026-05-31
    days on market $70,000 Active 96 DOM
13. 2026-02-24
    listed $70,000 Active 256-char remark

    Show marketing remark (256 chars)

    Investor Opportunity! Strategically located between Downtown Detroit and the Pointes while being in close proximity to the Riverfront, Belle Isle, and countless developments. 2 bedroom, 1 bath basement tenant occupied. Newer furnace & hot water tank.

14. 2026-02-24
    listed $70,000 Active 256-char remark

    Show marketing remark (256 chars)

    Investor Opportunity! Strategically located between Downtown Detroit and the Pointes while being in close proximity to the Riverfront, Belle Isle, and countless developments. 2 bedroom, 1 bath basement tenant occupied. Newer furnace & hot water tank.

15. 2022-10-04
    soldstatus $46,500
16. 2022-09-21
    status Pending
17. 2022-09-21
    soldstatus $46,500 Sold
18. 2022-09-21
    soldstatus $46,500 Closed
19. 2022-08-11
    price $55,000
20. 2022-08-10
    price $55,000
21. 2022-07-28
    listed $59,999 Active
22. 2022-07-28
    listed $59,999 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: $881 · $73/mo
• Projected year-2 tax: $980 · $82/mo
• Expected delta: +$98/yr (+$8/mo · 11.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 99% 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: $16,078
• − Mortgage interest: −$3,921
• − Property taxes: −$881
• − Insurance: −$5,875
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$2,036
• Taxable income: $792
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $1,350/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

+16.7% since first listed

10 events — show timeline

• 2026-02-24 Listed $70,000 MiRealSource-MiMLS
• 2026-02-24 Listed $70,000 REALCOMP
• 2022-10-04 Sold (Public Records) $46,500 Public Records
• 2022-09-21 Pending — REALCOMP
• 2022-09-21 Sold (MLS) $46,500 MiRealSource-MiMLS
• 2022-09-21 Sold (MLS) $46,500 REALCOMP
• 2022-08-11 Price Changed $55,000 MiRealSource-MiMLS
• 2022-08-10 Price Changed $55,000 REALCOMP
• 2022-07-28 Listed $59,999 MiRealSource-MiMLS
• 2022-07-28 Listed $59,999 REALCOMP

Property tax history

+7.2%/yr

Latest (2025): $881 · -53.6% YoY. Source: county tax records.