2660 Tuxedo St · Detroit, MI 48206

$220,000

6 bd · 3.0 ba · 2,840 sqft · MultiFamily public records · 1 Days on market

Built 1926 4,356 sqft lot Est $165k · 34% over

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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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +6.5/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

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

Discover the charm of this ''diamond in the rough'' in the highly sought-after 48206 district--a community on the rise! This stunning, all-brick home features classic turn-of-the-century architecture, including a rare original built-in wall icebox that honors its 1926 heritage. The second floor shines with refinished hardwood flooring throughout and fresh paint. Enjoy modern upgrades including new ceiling fans, light fixtures, and mini-blinds. Exterior updates include new gutters and two spacious rear balconies. With a roof approximately 7 years old, this property offers incredible bones. The unfinished first floor provides a blank canvas to customize to your vision. Don't miss this opportunity to own a piece of history in a top-rated, up-and-coming neighborhood. Sold as-is. Schedule your tour today!

Key facts

• New mini-blinds
• New ceiling fans
• New gutters

Tags

• ORIGINAL BUILT-IN WALL ICEBOX
• REFINISHED HARDWOOD FLOORING
• NEW CEILING FANS
• NEW LIGHT FIXTURES
• NEW MINI-BLINDS
• NEW GUTTERS

Property features AI

Finance

• Financial info: Tax information available: annual tax noted

Exterior

• Utilities: Public water; Public sewer / sewer connected; Natural gas connected
• Home design: Multi-family residential income property; Total building area approximately 2,840; Lot dimensions about 35 x 125 (approximately 4,356 sq ft / 0.1 acre); Zoned residential
• Construction: Brick construction
• Exterior features: Other-style roof

Interior

• Bedrooms: Two separate 3-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating (natural gas); Window unit air conditioning
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).

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); 271 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,540/mo this rent would consume 68% 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 $2k of loan paydown is wiped out by about $7k 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 $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,000

Questions for the listing agent

1. Built in 1926 — 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: 1.15% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $164,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2716 Elmhurst St	0.08mi	6/2.0	2,750 (-3%)	1mo	$225,000	$82	86
2952 Elmhurst St	0.16mi	6/2.5	2,950 (+4%)	2mo	$65,000	$22	82
2424 Calvert St	0.37mi	6/2.5	2,900 (+2%)	5mo	$305,000	$105	73
2931 Tuxedo St	0.13mi	6/2.0	2,510 (-12%)	3mo	$50,000	$20	68
3025 Tuxedo St	0.22mi	6/2.5	2,548 (-10%)	5mo	$150,000	$59	66
3230 Fullerton St	0.48mi	6/2.0	2,950 (+4%)	3mo	$65,000	$22	65
3316 Sturtevant St	0.49mi	6/2.0	2,750 (-3%)	5mo	$215,000	$78	64
3014 - 3016 Sturtevant St	0.38mi	6/2.0	2,700 (-5%)	7mo	$106,000	$39	64
2642 Webb St	0.06mi	6/2.0	3,248 (+14%)	7mo	$190,000	$58	64
2907 Calvert St	0.36mi	6/2.0	3,140 (+11%)	2mo	$130,000	$41	60
2327 Sturtevant St	0.43mi	6/2.0	2,666 (-6%)	7mo	$115,000	$43	60
1708 Burlingame St	0.64mi	6/4.0	3,094 (+9%)	3mo	$236,900	$77	48

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $8,464
• Equity at exit: $32,803

10-year hold

• IRR: 14.9%
• Equity multiple: 2.32×
• Total profit: $81,346
• Equity at exit: $19,022

Cash invested: $61,600 (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: 271
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,540 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $603

Break-even live

Break-even rent $1,777

Max offer price $220,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,540
Total (2 units)			$2,540

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	0.77mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	0.91mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	10d	1	1.02mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	1.09mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	1.29mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	1.33mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark

   Show marketing remark (811 chars)

   Discover the charm of this ''diamond in the rough'' in the highly sought-after 48206 district--a community on the rise! This stunning, all-brick home features classic turn-of-the-century architecture, including a rare original built-in wall icebox that honors its 1926 heritage. The second floor shines with refinished hardwood flooring throughout and fresh paint. Enjoy modern upgrades including new ceiling fans, light fixtures, and mini-blinds. Exterior updates include new gutters and two spacious rear balconies. With a roof approximately 7 years old, this property offers incredible bones. The unfinished first floor provides a blank canvas to customize to your vision. Don't miss this opportunity to own a piece of history in a top-rated, up-and-coming neighborhood. Sold as-is. Schedule your tour today!

2. 2026-06-17
   listed $220,000 Active 1 DOM

   Show marketing remark (811 chars)

   Discover the charm of this ''diamond in the rough'' in the highly sought-after 48206 district--a community on the rise! This stunning, all-brick home features classic turn-of-the-century architecture, including a rare original built-in wall icebox that honors its 1926 heritage. The second floor shines with refinished hardwood flooring throughout and fresh paint. Enjoy modern upgrades including new ceiling fans, light fixtures, and mini-blinds. Exterior updates include new gutters and two spacious rear balconies. With a roof approximately 7 years old, this property offers incredible bones. The unfinished first floor provides a blank canvas to customize to your vision. Don't miss this opportunity to own a piece of history in a top-rated, up-and-coming neighborhood. Sold as-is. Schedule your tour today!

ⓘ 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: $1,900 · $158/mo
• Projected year-2 tax: $2,644 · $220/mo
• Expected delta: +$744/yr (+$62/mo · 39.2%)

ⓘ 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 ≥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: $30,480
• − Mortgage interest: −$12,323
• − Property taxes: −$1,900
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,438
• − Management: −$2,438
• − Depreciation: −$6,400
• Taxable income: $3,880
• Est. tax owed @ 24.0%: −$931
• After-tax cash flow: $6,304/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

+0.0% since first listed

2 events — show timeline

• 2026-06-17 Listed $220,000 REALCOMP
• 2026-06-17 Listed $220,000 MiRealSource-MiMLS

Property tax history

+5.5%/yr

Latest (2025): $1,900 · +7.8% YoY. Source: county tax records.