1486 Montclair St · Detroit, MI 48214

$110,000

6 bd · 2.0 ba · 2,121 sqft · Townhouse public records · 18 Days on market

Built 1903 5,227 sqft lot ↓ 16% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

Key facts

• Updated furnaces
• Updated bathrooms
• Updated plumbing

Tags

• MULTI-FAMILY PROPERTY
• UPDATED PLUMBING
• UPDATED BATHROOMS
• UPDATED FURNACES
• UPDATED ELECTRICAL SYSTEMS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% 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: 298 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,712/mo this rent would consume 61% of the median local household income ($34k/yr) (locally 1364% 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 $761 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 + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y 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 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1903 — 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 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: 1.56% ✓
• Cap rate: 13.60%
• Cash-on-cash: 26.09%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.8%
• Equity multiple: 1.81×
• Total profit: $24,795
• Equity at exit: $16,401

10-year hold

• IRR: 28.0%
• Equity multiple: 3.48×
• Total profit: $76,411
• Equity at exit: $9,511

Cash invested: $30,800 (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 48214

• Active inventory: 298
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,712 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $670

Break-even live

Break-even rent $864

Max offer price $110,000

Occupancy floor 56%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2025-07-29
   soldstatus $105,000
2. 2025-06-24
   status Pending 494-char remark

   Show marketing remark (494 chars)

   This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

3. 2025-06-24
   status Pending

   Show marketing remark (494 chars)

   This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

4. 2025-06-19
   historical Accepting Backup Offers 494-char remark

   Show marketing remark (494 chars)

   This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

5. 2025-06-19
   historical Active Under Contract

   Show marketing remark (494 chars)

   This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

6. 2025-06-04
   listed $110,000 Active 494-char remark

   Show marketing remark (494 chars)

   This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

7. 2025-06-04
   listed $110,000 Active

   Show marketing remark (494 chars)

   This meticulously updated three-bedroom, upper and lower multi-family property is situated near Little Village and Downtown Detroit. Each unit comprises three bedrooms and one bathroom, both of which have been updated. This presents a prime opportunity for investors. Please be aware that both units are currently leased, and we respectfully request that you refrain from disturbing the tenants. Notable updates include enhancements to the plumbing, bathrooms, furnaces, and electrical systems.

8. 2023-05-09
   historical
9. 2023-05-09
   historical
10. 2023-02-16
    price $135,000
11. 2023-02-16
    price $135,000
12. 2022-12-15
    listed $157,000 Active
13. 2022-12-15
    listed $157,000 Active
14. 2022-12-13
    historical
15. 2022-12-13
    historical
16. 2020-10-31
    historical
17. 2020-10-14
    historical
18. 2020-05-08
    status Active
19. 2020-05-05
    historical
20. 2020-04-01
    listed $117,000 Active
21. 2020-04-01
    historical
22. 2020-04-01
    listed $117,000 Active
23. 2020-04-01
    historical
24. 2020-02-05
    price $117,000
25. 2020-02-04
    price $117,000
26. 2020-01-03
    status Active
27. 2020-01-02
    historical
28. 2019-11-29
    listed $125,000 Active
29. 2019-11-29
    listed $125,000 Active

ⓘ 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: $721 · $60/mo
• Projected year-2 tax: $1,207 · $101/mo
• Expected delta: +$487/yr (+$41/mo · 67.5%)

ⓘ 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 ≥96°F today · 15 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: $20,541
• − Mortgage interest: −$6,162
• − Property taxes: −$721
• − Insurance: −$550
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$3,200
• Taxable income: $6,622
• Est. tax owed @ 24.0%: −$1,589
• After-tax cash flow: $6,445/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

-16.0% since first listed

29 events — show timeline

• 2025-07-29 Sold (Public Records) $105,000 Public Records
• 2025-06-24 Pending — MiRealSource-MiMLS
• 2025-06-24 Pending — REALCOMP
• 2025-06-19 Contingent — MiRealSource-MiMLS
• 2025-06-19 Contingent — REALCOMP
• 2025-06-04 Listed $110,000 REALCOMP
• 2025-06-04 Listed $110,000 MiRealSource-MiMLS
• 2023-05-09 Listing Removed — MiRealSource-MiMLS
• 2023-05-09 Listing Removed — REALCOMP
• 2023-02-16 Price Changed $135,000 MiRealSource-MiMLS
• 2023-02-16 Price Changed $135,000 REALCOMP
• 2022-12-15 Listed $157,000 MiRealSource-MiMLS
• 2022-12-15 Listed $157,000 REALCOMP
• 2022-12-13 Coming Soon — MiRealSource-MiMLS
• 2022-12-13 Coming Soon — REALCOMP
• 2020-10-31 Listing Removed — MiRealSource-MiMLS
• 2020-10-14 Listing Removed — REALCOMP
• 2020-05-08 Relisted — REALCOMP
• 2020-05-05 Listing Removed — REALCOMP
• 2020-04-01 Listed $117,000 REALCOMP
• 2020-04-01 Listing Removed — MiRealSource-MiMLS
• 2020-04-01 Listed $117,000 MiRealSource-MiMLS
• 2020-04-01 Listing Removed — REALCOMP
• 2020-02-05 Price Changed $117,000 MiRealSource-MiMLS
• 2020-02-04 Price Changed $117,000 REALCOMP
• 2020-01-03 Relisted — REALCOMP
• 2020-01-02 Listing Removed — REALCOMP
• 2019-11-29 Listed $125,000 MiRealSource-MiMLS
• 2019-11-29 Listed $125,000 REALCOMP

Property tax history

-1.9%/yr

Latest (2025): $721 · +30.4% YoY. Source: county tax records.