1473 Taylor St · Detroit, MI 48206

$89,900

12 bd · 4.0 ba · 3,220 sqft · Townhouse public records · 64 Days on market

Built 1916 6,970 sqft lot $28/sqft · 39% below area Est $147k · 39% under ↓ 49% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * OPPORTUNITY * * This MASSIVE 6 unit Virginia Park multi-family property is looking for a new owner to bring it back to its former glory! The property currently features 6 2-bedroom units and has space to add 2 additional 1 bedroom units in the walk-up attic space. The property does require a full rehab but could be an absolute cash-cow once completed, as the units should rent for at least $1,200/month each, meaning you could generate over 110K in rental income per year! Located less than a block away from the Herman Kiefer project and 2 blocks from the Lodge freeway, this is an absolutely prime location! 5+ unit properties are extremely rare in the greater New Center area so take advantage of this incredible opportunity while you can! CASH OR HARD MONEY ONLY, NO SELLER FINANCING.

Key facts

• 6,970 sq ft lot
• Built 1916
• Listed 64 days

🏷️ Possibly a rental listed for sale. The $89,900 price doesn't fit this home's estimated sale value (~$147,379) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 12-bed/4.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 10.0% 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 fast (+5.2%/yr); 273 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,884/mo this rent would consume 50% of the median local household income ($45k/yr) (locally 646% 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 $622 of loan paydown is wiped out by about $3k 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 + 5.2% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.10% ✓
• Cap rate: 17.87%
• Cash-on-cash: 41.33%
• DSCR: 2.84
• GRM: 4.0

CMA / ARV

• ARV (median comp): $147,379
• List price: $89,900
• Delta: -39.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 40.4%
• Equity multiple: 2.79×
• Total profit: $44,938
• Equity at exit: $13,404

10-year hold

• IRR: 47.7%
• Equity multiple: 6.11×
• Total profit: $128,639
• Equity at exit: $7,773

Cash invested: $25,172 (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 48206

• Rents YoY: 5.2%
• Active inventory: 273
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,884 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $867

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 49%

Sensitivity live

Price	-10% $929	-5% $898	+0% $867	+5% $836	+10% $805
Rent	-10% $718	-5% $793	+0% $867	+5% $941	+10% $1,016
Rate	-1.0pp $912	-0.5pp $890	base $867	+0.5pp $844	+1.0pp $820

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $89,900 Active 64 DOM
2. 2026-06-18
   days on market $89,900 Active 61 DOM
3. 2026-06-17
   days on market $89,900 Active 60 DOM
4. 2026-06-15
   days on market $89,900 Active 58 DOM
5. 2026-06-13
   days on market $89,900 Active 56 DOM
6. 2026-06-13
   days on market $89,900 Active 55 DOM
7. 2026-06-09
   days on market $89,900 Active 52 DOM
8. 2026-06-08
   days on market $89,900 Active 51 DOM
9. 2026-06-07
   days on market $89,900 Active 50 DOM
10. 2026-06-04
    days on market $89,900 Active 47 DOM
11. 2026-06-03
    days on market $89,900 Active 46 DOM
12. 2026-06-02
    days on market $89,900 Active 45 DOM
13. 2026-06-01
    days on market $89,900 Active 44 DOM
14. 2026-05-31
    days on market $89,900 Active 43 DOM
15. 2026-04-18
    status Active 797-char remark

    Show marketing remark (797 chars)

    * * OPPORTUNITY * * This MASSIVE 6 unit Virginia Park multi-family property is looking for a new owner to bring it back to its former glory! The property currently features 6 2-bedroom units and has space to add 2 additional 1 bedroom units in the walk-up attic space. The property does require a full rehab but could be an absolute cash-cow once completed, as the units should rent for at least $1,200/month each, meaning you could generate over 110K in rental income per year! Located less than a block away from the Herman Kiefer project and 2 blocks from the Lodge freeway, this is an absolutely prime location! 5+ unit properties are extremely rare in the greater New Center area so take advantage of this incredible opportunity while you can! CASH OR HARD MONEY ONLY, NO SELLER FINANCING.

16. 2026-04-18
    status Active 797-char remark

    Show marketing remark (797 chars)

    * * OPPORTUNITY * * This MASSIVE 6 unit Virginia Park multi-family property is looking for a new owner to bring it back to its former glory! The property currently features 6 2-bedroom units and has space to add 2 additional 1 bedroom units in the walk-up attic space. The property does require a full rehab but could be an absolute cash-cow once completed, as the units should rent for at least $1,200/month each, meaning you could generate over 110K in rental income per year! Located less than a block away from the Herman Kiefer project and 2 blocks from the Lodge freeway, this is an absolutely prime location! 5+ unit properties are extremely rare in the greater New Center area so take advantage of this incredible opportunity while you can! CASH OR HARD MONEY ONLY, NO SELLER FINANCING.

17. 2026-01-20
    listed $89,900 797-char remark

    Show marketing remark (797 chars)

    * * OPPORTUNITY * * This MASSIVE 6 unit Virginia Park multi-family property is looking for a new owner to bring it back to its former glory! The property currently features 6 2-bedroom units and has space to add 2 additional 1 bedroom units in the walk-up attic space. The property does require a full rehab but could be an absolute cash-cow once completed, as the units should rent for at least $1,200/month each, meaning you could generate over 110K in rental income per year! Located less than a block away from the Herman Kiefer project and 2 blocks from the Lodge freeway, this is an absolutely prime location! 5+ unit properties are extremely rare in the greater New Center area so take advantage of this incredible opportunity while you can! CASH OR HARD MONEY ONLY, NO SELLER FINANCING.

18. 2026-01-20
    historical 797-char remark

    Show marketing remark (797 chars)

    * * OPPORTUNITY * * This MASSIVE 6 unit Virginia Park multi-family property is looking for a new owner to bring it back to its former glory! The property currently features 6 2-bedroom units and has space to add 2 additional 1 bedroom units in the walk-up attic space. The property does require a full rehab but could be an absolute cash-cow once completed, as the units should rent for at least $1,200/month each, meaning you could generate over 110K in rental income per year! Located less than a block away from the Herman Kiefer project and 2 blocks from the Lodge freeway, this is an absolutely prime location! 5+ unit properties are extremely rare in the greater New Center area so take advantage of this incredible opportunity while you can! CASH OR HARD MONEY ONLY, NO SELLER FINANCING.

19. 2026-01-01
    historical
20. 2026-01-01
    historical
21. 2025-07-01
    price $89,900
22. 2025-07-01
    price $109,900
23. 2025-06-30
    price $89,900
24. 2025-06-30
    price $89,900
25. 2025-05-22
    price $109,900
26. 2025-05-22
    price $109,900
27. 2025-03-11
    price $124,900
28. 2025-03-10
    price $124,900
29. 2025-02-12
    price $164,900
30. 2025-02-11
    price $164,900
31. 2025-01-28
    price $169,900
32. 2025-01-27
    price $169,900
33. 2024-12-08
    listed $174,900 Active
34. 2024-12-08
    listed $174,900 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,606
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$2,615
• Taxable income: $9,540
• Est. tax owed @ 24.0%: −$2,290
• After-tax cash flow: $8,114/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

-48.6% since first listed

20 events — show timeline

• 2026-04-18 Relisted — MiRealSource-MiMLS
• 2026-04-18 Relisted — REALCOMP
• 2026-01-20 Listing Removed — MiRealSource-MiMLS
• 2026-01-20 Listed $89,900 MiRealSource-MiMLS
• 2026-01-01 Listing Removed — REALCOMP
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-07-01 Price Changed $89,900 MiRealSource-MiMLS
• 2025-07-01 Price Changed $109,900 MiRealSource-MiMLS
• 2025-06-30 Price Changed $89,900 MiRealSource-MiMLS
• 2025-06-30 Price Changed $89,900 REALCOMP
• 2025-05-22 Price Changed $109,900 MiRealSource-MiMLS
• 2025-05-22 Price Changed $109,900 REALCOMP
• 2025-03-11 Price Changed $124,900 MiRealSource-MiMLS
• 2025-03-10 Price Changed $124,900 REALCOMP
• 2025-02-12 Price Changed $164,900 MiRealSource-MiMLS
• 2025-02-11 Price Changed $164,900 REALCOMP
• 2025-01-28 Price Changed $169,900 MiRealSource-MiMLS
• 2025-01-27 Price Changed $169,900 REALCOMP
• 2024-12-08 Listed $174,900 REALCOMP
• 2024-12-08 Listed $174,900 MiRealSource-MiMLS

Property tax history

-16.7%/yr

Latest (2025): $45 · -54.8% YoY. Source: county tax records.