4237 W Grand St · Detroit, MI 48238

$74,900

6 bd · 2.5 ba · 2,600 sqft · Townhouse public records · 42 Days on market

Built 1926 4,356 sqft lot $29/sqft · 24% below area Est $99k · 24% under

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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 +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of historic charm and modern potential in this classic Detroit residence located in the heart of the Russell Woods-Sullivan area. This property offers a generous floor plan featuring original architectural details, including rich natural woodwork and expansive windows that bathe the interior in natural light. Situated on a tree-lined street in the 48238 zip code, this home is ideal for an ambitious homeowner or an investor looking to capitalize on Detroit's vibrant revitalization. With its spacious backyard and close proximity to major expressways, local parks, and the flourishing dining scenes of nearby neighborhoods, 4237 W Grand St stands as a remarkable opportunity to claim a piece of the city's storied landscape. Sold as is. Buyer and agent to verify all information.

Key facts

• Natural woodwork
• Spacious backyard
• Modern potential

Tags

• HISTORIC CHARM
• MODERN POTENTIAL
• ORIGINAL ARCHITECTURAL DETAILS
• NATURAL WOODWORK
• EXPANSIVE WINDOWS
• SPACIOUS BACKYARD

Property features AI

Finance

• Other: Lot dimensions approximately 35 x 119.32 (0.1 acre)
• Financial info: Annual taxes listed (amount not included per instructions)

Exterior

• Parking: Garage
• Utilities: Public water; Public sewer
• Home design: Multi Family residential income property; Brick exterior; Zoned for multifamily
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Paved road access; Pets not allowed

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Unfinished basement
• Laundry & utility: Has heating

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.1% 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 fast (+6.1%/yr); 346 active listings in the ZIP; 1 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 $1,669/mo this rent would consume 60% of the median local household income ($33k/yr) (locally 2172% 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 $518 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($73k) 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.
• Current owner paid $58k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.23% ✓
• Cap rate: 19.12%
• Cash-on-cash: 45.82%
• DSCR: 3.04
• GRM: 3.7

CMA / ARV

• ARV (median comp): $98,810
• List price: $74,900
• Delta: -24.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 3.11×
• Total profit: $44,327
• Equity at exit: $11,168

10-year hold

• IRR: 53.7%
• Equity multiple: 7.11×
• Total profit: $128,176
• Equity at exit: $6,476

Cash invested: $20,972 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $801

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 47%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	0.33mi

Listing history 17 events

1. 2026-06-18
   days on market $74,900 Active 42 DOM
2. 2026-06-17
   days on market $74,900 Active 41 DOM
3. 2026-06-15
   days on market $74,900 Active 39 DOM
4. 2026-06-13
   days on market $74,900 Active 37 DOM
5. 2026-06-13
   days on market $74,900 Active 36 DOM
6. 2026-06-09
   days on market $74,900 Active 33 DOM
7. 2026-06-08
   days on market $74,900 Active 32 DOM
8. 2026-06-07
   days on market $74,900 Active 31 DOM
9. 2026-06-04
   days on market $74,900 Active 28 DOM
10. 2026-06-03
    days on market $74,900 Active 27 DOM
11. 2026-06-02
    days on market $74,900 Active 26 DOM
12. 2026-06-01
    days on market $74,900 Active 25 DOM
13. 2026-05-31
    days on market $74,900 Active 24 DOM
14. 2026-05-05
    listed $74,900 Active 809-char remark

    Show marketing remark (809 chars)

    Discover the perfect blend of historic charm and modern potential in this classic Detroit residence located in the heart of the Russell Woods-Sullivan area. This property offers a generous floor plan featuring original architectural details, including rich natural woodwork and expansive windows that bathe the interior in natural light. Situated on a tree-lined street in the 48238 zip code, this home is ideal for an ambitious homeowner or an investor looking to capitalize on Detroit's vibrant revitalization. With its spacious backyard and close proximity to major expressways, local parks, and the flourishing dining scenes of nearby neighborhoods, 4237 W Grand St stands as a remarkable opportunity to claim a piece of the city's storied landscape. Sold as is. Buyer and agent to verify all information.

15. 2026-05-05
    listed $74,900 Active 809-char remark

    Show marketing remark (809 chars)

    Discover the perfect blend of historic charm and modern potential in this classic Detroit residence located in the heart of the Russell Woods-Sullivan area. This property offers a generous floor plan featuring original architectural details, including rich natural woodwork and expansive windows that bathe the interior in natural light. Situated on a tree-lined street in the 48238 zip code, this home is ideal for an ambitious homeowner or an investor looking to capitalize on Detroit's vibrant revitalization. With its spacious backyard and close proximity to major expressways, local parks, and the flourishing dining scenes of nearby neighborhoods, 4237 W Grand St stands as a remarkable opportunity to claim a piece of the city's storied landscape. Sold as is. Buyer and agent to verify all information.

16. 2002-06-14
    soldstatus $57,800
17. 1994-08-01
    soldstatus $17,500

ⓘ 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 · 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: $20,026
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$2,179
• Taxable income: $8,949
• Est. tax owed @ 24.0%: −$2,148
• After-tax cash flow: $7,461/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+328.0% since first listed

4 events — show timeline

• 2026-05-05 Listed $74,900 MiRealSource-MiMLS
• 2026-05-05 Listed $74,900 REALCOMP
• 2002-06-14 Sold (Public Records) $57,800 Public Records
• 1994-08-01 Sold (Public Records) $17,500 Public Records

Property tax history

+8.2%/yr

Latest (2025): $4,393 · +84.2% YoY. Source: county tax records.