17312 Indiana St · Detroit, MI 48221

$139,900

4 bd · 2.0 ba · 2,287 sqft · MultiFamily public records · 21 Days on market

Built 1928 4,792 sqft lot Est $119k · 18% over ↓ 26% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• 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

Welcome to 17312 Indiana Street, a charming Detroit duplex that perfectly balances classic character with functional multi-family living. This property features two distinct units, making it an excellent setup for multi-generational families who want to stay close while maintaining their own private spaces, or for anyone looking for a versatile home with separate living quarters. Situated in an established, accessible neighborhood, you're just minutes away from local parks, shopping, and everyday conveniences. With its traditional layout and spacious rooms, this property is ready for its next chapter. Sold as is. Buyer and agent to verify all information

Key facts

• Two distinct units
• Shopping
• Versatile home

Tags

• TWO DISTINCT UNITS
• VERSATILE HOME
• SEPARATE LIVING QUARTERS
• ACCESSIBLE NEIGHBORHOOD
• LOCAL PARKS
• SHOPPING

Property features AI

Finance

• Other: Zoned for multi-family/residential; Lot approximately 0.11 acres (40 x 114.02)
• Financial info: Annual tax information available

Exterior

• Parking: Garage
• Utilities: Public water; Public sewer
• Home design: Two-story multi-family residential income property; Brick exterior
• Construction: Brick construction
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Hot water heating; Natural gas heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $992 ($12k/yr) — positive. Per door: $496/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: Rents rising (+3.4%/yr); 349 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $2,479/mo this rent would consume 51% of the median local household income ($58k/yr) (locally 1646% 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 $967 of loan paydown is wiped out by about $4k 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 + 3.4% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 3y 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,801 (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 1928 — 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: 1.77% ✓
• Cap rate: 14.80%
• Cash-on-cash: 30.38%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $118,924
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17200 Roselawn St	0.30mi	4/2.0	2,293 (+0%)	3mo	$225,400	$98	83
16644 Washburn St	0.37mi	4/2.0	2,263 (-1%)	7mo	$65,000	$29	75
17532 Wisconsin St	0.16mi	4/2.0	2,052 (-10%)	5mo	$220,000	$107	72
17375 Kentucky St St	0.11mi	4/2.0	2,049 (-10%)	8mo	$70,000	$34	71
17327 Indiana St	0.03mi	5/2.0 (+1)	2,555 (+12%)	6mo	$115,000	$45	68
17545 Roselawn St	0.30mi	5/2.0 (+1)	2,390 (+4%)	7mo	$165,000	$69	68
17385 Kentucky St	0.11mi	5/2.0 (+1)	2,549 (+12%)	5mo	$121,000	$47	66
16631 Birwood St	0.50mi	5/2.0 (+1)	2,240 (-2%)	3mo	$55,000	$25	66
16505 Indiana St	0.47mi	4/2.0	2,167 (-5%)	6mo	$129,000	$60	64
10517 Curtis St	0.55mi	4/2.0	2,148 (-6%)	2mo	$210,000	$98	63
15852 Washburn St	0.73mi	4/2.0	2,398 (+5%)	8mo	$125,000	$52	51
17606 Roselawn St	0.36mi	5/2.0 (+1)	2,574 (+12%)	8mo	$113,000	$44	51

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.06×
• Total profit: $41,625
• Equity at exit: $20,860

10-year hold

• IRR: 33.5%
• Equity multiple: 4.12×
• Total profit: $122,284
• Equity at exit: $12,096

Cash invested: $39,172 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,479 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $992

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 55%

Sensitivity live

Price	-10% $1,088	-5% $1,040	+0% $992	+5% $943	+10% $895
Rent	-10% $796	-5% $894	+0% $992	+5% $1,090	+10% $1,187
Rate	-1.0pp $1,062	-0.5pp $1,027	base $992	+0.5pp $955	+1.0pp $918

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,478
Total (2 units)			$2,479

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.33mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	0.43mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	18d	1	0.53mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.84mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	44d	1	1.02mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	44d	1	1.37mi

Listing history 42 events

1. 2026-06-18
   days on market $139,900 Active 21 DOM
2. 2026-06-17
   days on market $139,900 Active 20 DOM
3. 2026-06-15
   days on market $139,900 Active 18 DOM
4. 2026-06-13
   days on market $139,900 Active 16 DOM
5. 2026-06-13
   days on market $139,900 Active 15 DOM
6. 2026-06-09
   days on market $139,900 Active 12 DOM
7. 2026-06-08
   days on market $139,900 Active 11 DOM
8. 2026-06-07
   days on market $139,900 Active 10 DOM
9. 2026-06-04
   days on market $139,900 Active 7 DOM
10. 2026-06-03
    days on market $139,900 Active 6 DOM
11. 2026-06-02
    days on market $139,900 Active 5 DOM
12. 2026-06-01
    days on market $139,900 Active 4 DOM
13. 2026-05-31
    days on market $139,900 Active 3 DOM
14. 2026-05-28
    listed $139,900 Active 662-char remark

    Show marketing remark (662 chars)

    Welcome to 17312 Indiana Street, a charming Detroit duplex that perfectly balances classic character with functional multi-family living. This property features two distinct units, making it an excellent setup for multi-generational families who want to stay close while maintaining their own private spaces, or for anyone looking for a versatile home with separate living quarters. Situated in an established, accessible neighborhood, you're just minutes away from local parks, shopping, and everyday conveniences. With its traditional layout and spacious rooms, this property is ready for its next chapter. Sold as is. Buyer and agent to verify all information

15. 2026-05-28
    listed $139,900 Active

    Show marketing remark (662 chars)

    Welcome to 17312 Indiana Street, a charming Detroit duplex that perfectly balances classic character with functional multi-family living. This property features two distinct units, making it an excellent setup for multi-generational families who want to stay close while maintaining their own private spaces, or for anyone looking for a versatile home with separate living quarters. Situated in an established, accessible neighborhood, you're just minutes away from local parks, shopping, and everyday conveniences. With its traditional layout and spacious rooms, this property is ready for its next chapter. Sold as is. Buyer and agent to verify all information

16. 2025-04-14
    historical
17. 2025-04-14
    historical
18. 2024-12-31
    price $199,000
19. 2024-12-31
    price $199,000
20. 2024-11-30
    price $205,000
21. 2024-11-30
    price $205,000
22. 2024-10-14
    listed $215,000 Active
23. 2024-10-14
    listed $215,000 Active
24. 2024-04-29
    historical
25. 2024-04-29
    historical
26. 2024-03-08
    listed $240,000 Active
27. 2024-03-08
    listed $240,000 Active
28. 2023-12-05
    soldstatus $182,000
29. 2023-11-30
    soldstatus $182,000 Sold
30. 2023-11-30
    soldstatus $182,000 Closed
31. 2023-10-25
    status Pending
32. 2023-10-25
    status Pending
33. 2023-10-09
    status Active
34. 2023-10-09
    status Active
35. 2023-08-30
    status Pending
36. 2023-08-30
    status Pending
37. 2023-08-22
    status Active
38. 2023-08-22
    status Active
39. 2023-07-28
    status Pending
40. 2023-07-28
    status Pending
41. 2023-07-18
    listed $190,000 Active
42. 2023-07-18
    listed $190,000 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 · 14 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: $29,748
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,380
• − Management: −$2,380
• − Depreciation: −$4,070
• Taxable income: $10,284
• Est. tax owed @ 24.0%: −$2,468
• After-tax cash flow: $9,431/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

-26.4% since first listed

29 events — show timeline

• 2026-05-28 Listed $139,900 REALCOMP
• 2026-05-28 Listed $139,900 MiRealSource-MiMLS
• 2025-04-14 Listing Removed — MiRealSource-MiMLS
• 2025-04-14 Listing Removed — REALCOMP
• 2024-12-31 Price Changed $199,000 MiRealSource-MiMLS
• 2024-12-31 Price Changed $199,000 REALCOMP
• 2024-11-30 Price Changed $205,000 MiRealSource-MiMLS
• 2024-11-30 Price Changed $205,000 REALCOMP
• 2024-10-14 Listed $215,000 MiRealSource-MiMLS
• 2024-10-14 Listed $215,000 REALCOMP
• 2024-04-29 Listing Removed — MiRealSource-MiMLS
• 2024-04-29 Listing Removed — REALCOMP
• 2024-03-08 Listed $240,000 MiRealSource-MiMLS
• 2024-03-08 Listed $240,000 REALCOMP
• 2023-12-05 Sold (Public Records) $182,000 Public Records
• 2023-11-30 Sold (MLS) $182,000 MiRealSource-MiMLS
• 2023-11-30 Sold (MLS) $182,000 REALCOMP
• 2023-10-25 Pending — MiRealSource-MiMLS
• 2023-10-25 Pending — REALCOMP
• 2023-10-09 Relisted — MiRealSource-MiMLS
• 2023-10-09 Relisted — REALCOMP
• 2023-08-30 Pending — MiRealSource-MiMLS
• 2023-08-30 Pending — REALCOMP
• 2023-08-22 Relisted — MiRealSource-MiMLS
• 2023-08-22 Relisted — REALCOMP
• 2023-07-28 Pending — MiRealSource-MiMLS
• 2023-07-28 Pending — REALCOMP
• 2023-07-18 Listed $190,000 MiRealSource-MiMLS
• 2023-07-18 Listed $190,000 REALCOMP

Property tax history

+14.0%/yr

Latest (2025): $10,227 · -38.3% YoY. Source: county tax records.