300 W Nevada St · Detroit, MI 48203

$8,500

3 bd · 1.0 ba · 1,314 sqft · SingleFamily public records · 175 Days on market

Built 1936 7,405 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Discover the potential in this Highland Park Colonial offered through the Detroit Land Bank Authority. Built in 1936, this brick 2-story home features over 1,300 square feet of living space. The property sits on a 60x125 lot with a detached 2-car garage, providing plenty of outdoor space. Located near Woodward Avenue and John R Street, this property offers convenient access to Detroit's main corridors and surrounding neighborhoods. This is a DLBA listing - interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (renovation budget and details) 4. Proof of Previous Projects (addresses and photos) Important Note: Sale is contingent upon execution of a DLBA Renovation/Development Agreement. The DLBA is entitled to a tax recapture for the five (5) tax years following transfer of ownership, which may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, subject to DLBA review of the project's financials. All offers and proposals must be submitted through the DLBA Path to Purchase portal (see agent remarks and documents for link). BATVAI. IDRBNG.

Key facts

• Brick 2-story home
• 60x125 lot
• 7,405 sq ft lot

Tags

• HIGHLAND PARK COLONIAL
• BRICK 2-STORY HOME
• DETACHED 2-CAR GARAGE
• 60X125 LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $8k).
• Recommended offer: $7k (12.0% below list) — sets the bar for market timing.
• Cap rate 152.9% vs local median 10.1% 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: 218 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 43% of the median local income ($38k/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 $59 of loan paydown is wiped out by about $255 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($7k) is reasonable based on typical stale-listing flexibility.
• 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 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $7,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 16.24% ✓
• Cap rate: 152.86%
• Cash-on-cash: 523.45%
• DSCR: 24.29
• GRM: 0.5

CMA / ARV

• ARV (on-the-fly): $82,782
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 W Margaret St	0.20mi	3/1.0	1,258 (-4%)	8mo	$23,000	$18	77
517 W Hollywood	0.43mi	3/2.5	1,200 (-9%)	2mo	$110,000	$92	57
128 E Montana St	0.42mi	3/2.0	1,344 (+2%)	22mo	$179,900	$134	54
194 E Savannah St	0.48mi	3/2.0	1,344 (+2%)	22mo	$179,000	$133	51
101 Stevens St	0.61mi	3/1.5	1,200 (-9%)	6mo	$75,000	$63	50
50 Eason St	0.66mi	3/1.5	1,162 (-12%)	1mo	$47,500	$41	47
50 E Nevada St	0.35mi	3/2.5	1,465 (+12%)	15mo	$130,000	$89	46
116 Church St	0.71mi	3/1.5	1,400 (+6%)	15mo	$106,500	$76	41
231 W Brentwood St	0.48mi	3/1.0	1,489 (+13%)	17mo	$72,000	$48	41
17314 Brush St	0.61mi	3/1.0	1,144 (-13%)	16mo	$26,300	$23	36
19189 Keating St	0.74mi	3/2.0	1,438 (+9%)	17mo	$85,000	$59	31

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: —
• Equity multiple: 28.21×
• Total profit: $64,762
• Equity at exit: $1,267

10-year hold

• IRR: —
• Equity multiple: 60.50×
• Total profit: $141,606
• Equity at exit: $735

Cash invested: $2,380 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 218
• Price-to-rent: 0.5×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$45
• Tax from tax record: −$4 /mo · $53/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $1,038

Break-even live

Break-even rent $66

Max offer price $8,500

Occupancy floor 20%

Sensitivity live

Price	-10% $1,043	-5% $1,041	+0% $1,038	+5% $1,036	+10% $1,033
Rent	-10% $929	-5% $984	+0% $1,038	+5% $1,093	+10% $1,147
Rate	-1.0pp $1,042	-0.5pp $1,040	base $1,038	+0.5pp $1,036	+1.0pp $1,034

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: $2,125
• Closing costs: $255
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	0.30mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.35mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.36mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	0.37mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	0.44mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	0.50mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.50mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.50mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	44d	1	0.51mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	0.55mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	0.55mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.61mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.90mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	0.92mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.93mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	1.05mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.08mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	6d	1	1.13mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.35mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	1.37mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.38mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	1.39mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.45mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	1.50mi

Listing history 4 events

1. 2026-03-23
   status Pending 1293-char remark

   Show marketing remark (1293 chars)

   Discover the potential in this Highland Park Colonial offered through the Detroit Land Bank Authority. Built in 1936, this brick 2-story home features over 1,300 square feet of living space. The property sits on a 60x125 lot with a detached 2-car garage, providing plenty of outdoor space. Located near Woodward Avenue and John R Street, this property offers convenient access to Detroit's main corridors and surrounding neighborhoods. This is a DLBA listing - interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (renovation budget and details) 4. Proof of Previous Projects (addresses and photos) Important Note: Sale is contingent upon execution of a DLBA Renovation/Development Agreement. The DLBA is entitled to a tax recapture for the five (5) tax years following transfer of ownership, which may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, subject to DLBA review of the project's financials. All offers and proposals must be submitted through the DLBA Path to Purchase portal (see agent remarks and documents for link). BATVAI. IDRBNG.

2. 2026-03-23
   status Pending

   Show marketing remark (1293 chars)

   Discover the potential in this Highland Park Colonial offered through the Detroit Land Bank Authority. Built in 1936, this brick 2-story home features over 1,300 square feet of living space. The property sits on a 60x125 lot with a detached 2-car garage, providing plenty of outdoor space. Located near Woodward Avenue and John R Street, this property offers convenient access to Detroit's main corridors and surrounding neighborhoods. This is a DLBA listing - interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (renovation budget and details) 4. Proof of Previous Projects (addresses and photos) Important Note: Sale is contingent upon execution of a DLBA Renovation/Development Agreement. The DLBA is entitled to a tax recapture for the five (5) tax years following transfer of ownership, which may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, subject to DLBA review of the project's financials. All offers and proposals must be submitted through the DLBA Path to Purchase portal (see agent remarks and documents for link). BATVAI. IDRBNG.

3. 2025-09-29
   listed $8,500 Active

   Show marketing remark (1293 chars)

   Discover the potential in this Highland Park Colonial offered through the Detroit Land Bank Authority. Built in 1936, this brick 2-story home features over 1,300 square feet of living space. The property sits on a 60x125 lot with a detached 2-car garage, providing plenty of outdoor space. Located near Woodward Avenue and John R Street, this property offers convenient access to Detroit's main corridors and surrounding neighborhoods. This is a DLBA listing - interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (renovation budget and details) 4. Proof of Previous Projects (addresses and photos) Important Note: Sale is contingent upon execution of a DLBA Renovation/Development Agreement. The DLBA is entitled to a tax recapture for the five (5) tax years following transfer of ownership, which may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, subject to DLBA review of the project's financials. All offers and proposals must be submitted through the DLBA Path to Purchase portal (see agent remarks and documents for link). BATVAI. IDRBNG.

4. 2025-09-29
   listed $8,500 Active 1293-char remark

   Show marketing remark (1293 chars)

   Discover the potential in this Highland Park Colonial offered through the Detroit Land Bank Authority. Built in 1936, this brick 2-story home features over 1,300 square feet of living space. The property sits on a 60x125 lot with a detached 2-car garage, providing plenty of outdoor space. Located near Woodward Avenue and John R Street, this property offers convenient access to Detroit's main corridors and surrounding neighborhoods. This is a DLBA listing - interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (renovation budget and details) 4. Proof of Previous Projects (addresses and photos) Important Note: Sale is contingent upon execution of a DLBA Renovation/Development Agreement. The DLBA is entitled to a tax recapture for the five (5) tax years following transfer of ownership, which may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, subject to DLBA review of the project's financials. All offers and proposals must be submitted through the DLBA Path to Purchase portal (see agent remarks and documents for link). BATVAI. IDRBNG.

ⓘ 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: $53 · $4/mo
• Projected year-2 tax: $92 · $8/mo
• Expected delta: +$39/yr (+$3/mo · 74.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $16,567
• − Mortgage interest: −$476
• − Property taxes: −$53
• − Insurance: −$42
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$247
• Taxable income: $13,098
• Est. tax owed @ 24.0%: −$3,144
• After-tax cash flow: $9,315/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -90.13%
• Current HPI: 297.0176
• 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

4 events — show timeline

• 2026-03-23 Pending — MiRealSource-MiMLS
• 2026-03-23 Pending — REALCOMP
• 2025-09-29 Listed $8,500 REALCOMP
• 2025-09-29 Listed $8,500 MiRealSource-MiMLS

Property tax history

-55.1%/yr

Latest (2017): $53 · -89.6% YoY. Source: county tax records.