2393 N Green St · Detroit, MI 48209

$239,500

5 bd · 2.5 ba · 2,356 sqft · MultiFamily public records · 16 Days on market

Built 1917 3,485 sqft lot Est $221k · 8% over

---

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 +20.3/30.0
• Appreciation +10.0/10.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• ARV discount +3.8/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent investment opportunity in the heart of Southwest Detroit! This versatile multi-family property offers strong income-producing potential with separate utilities, including individual water, gas, and electric services for each unit. The first unit features 3 bedrooms, a spacious living room, formal dining room, and kitchen. The second unit offers 2 bedrooms, a full living room, dining room, kitchen, and potential for a third bedroom, providing flexibility for increased rental income. Additional features include a full basement, detached garage, off-street parking, and separate utility services, making management convenient for both owner-occupants and investors. With solid rental potential and room to add value, this property presents an excellent opportunity to build long-term wealth through real estate. Whether you're looking to expand your portfolio or live in one unit while generating income from the other, this property is worth a look. Schedule your showing today! 2393 Green Street | Detroit, MI 48209 2 Units | Separate Utilities | Garage | Basement | Off-Street Parking Great Investment Potential

Key facts

• Separate utilities
• Full basement
• Off-street parking

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• SEPARATE UTILITIES
• FULL BASEMENT
• DETACHED GARAGE
• OFF-STREET PARKING

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two levels
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 30 x 121 (0.08 acres); Zoned for multiple uses; Pets not allowed

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: Two full bathrooms and one half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,448/mo this rent would consume 68% of the median local household income ($43k/yr) (locally 831% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $40k; list at $240k implies a 499% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,907 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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 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: 1.02% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $221,464
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1943 Central St	0.33mi	6/2.0 (+1)	2,200 (-7%)	10mo	$110,000	$50	58
1216 Waterman St	0.72mi	6/2.5 (+1)	2,500 (+6%)	6mo	$235,000	$94	47
7753-7755 Senator St	0.31mi	4/2.0 (-1)	2,016 (-14%)	12mo	$165,000	$82	45
2555 Military St	0.67mi	4/2.0 (-1)	2,200 (-7%)	13mo	$240,000	$109	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.24×
• Total profit: $149,956
• Equity at exit: $215,761

10-year hold

• IRR: 24.6%
• Equity multiple: 7.36×
• Total profit: $426,304
• Equity at exit: $465,296

Cash invested: $67,060 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 66
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,448 high
• Mortgage (P&I): −$1,256
• Tax from tax record: −$272 /mo · $3,264/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $306

Break-even live

Break-even rent $2,060

Max offer price $239,500

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,266
1× unit	2	1	$1,182
Total (2 units)			$2,448

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8804 Mason Pl Detroit, MI	5.0	2.0	1680	$2,800	$1.67	1d	1	0.84mi
1646 Mc Kinstry St Unit 1F McKinstry Detroit, MI	4.0	1.0	1879	$1,200	$0.64	4d	1	1.34mi

Listing history 11 events

1. 2026-06-18
   days on market $239,500 Active 16 DOM
2. 2026-06-17
   days on market $239,500 Active 15 DOM
3. 2026-06-16
   days on market $239,500 Active 14 DOM
4. 2026-06-15
   days on market $239,500 Active 13 DOM
5. 2026-06-13
   days on market $239,500 Active 11 DOM
6. 2026-06-13
   days on market $239,500 Active 10 DOM
7. 2026-06-09
   days on market $239,500 Active 7 DOM
8. 2026-06-08
   days on market $239,500 Active 6 DOM
9. 2026-06-07
   days on market $239,500 Active 5 DOM
10. 2026-06-04
    days on market $239,500 Active 2 DOM
11. 2026-06-03
    listed $239,500 Active 1 DOM

ⓘ 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: $3,264 · $272/mo
• Projected year-2 tax: $3,476 · $290/mo
• Expected delta: +$212/yr (+$18/mo · 6.5%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,376
• − Mortgage interest: −$13,416
• − Property taxes: −$3,264
• − Insurance: −$1,198
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − Depreciation: −$6,967
• Taxable loss: −$169
• Est. tax savings @ 24.0%: +$41
• After-tax cash flow: $3,714/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• 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

+701.0% since first listed

12 events — show timeline

• 2026-06-02 Listed $239,500 MiRealSource-MiMLS
• 2026-06-02 Listed $239,500 REALCOMP
• 2017-01-11 Listing Removed — MiRealSource-MiMLS
• 2017-01-06 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2017-01-06 Sold (MLS) $40,000 REALCOMP
• 2016-11-30 Pending — MiRealSource-MiMLS
• 2016-11-30 Pending — REALCOMP
• 2016-11-23 Price Changed $51,900 MiRealSource-MiMLS
• 2016-11-22 Price Changed $51,900 REALCOMP
• 2016-08-01 Listed $55,000 MiRealSource-MiMLS
• 2016-07-30 Listed $55,000 REALCOMP
• 1992-02-21 Sold (Public Records) $29,900 Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,264 · +4.3% YoY. Source: county tax records.