2707 Wreford St · Detroit, MI 48208

$28,500

4 bd · 2.0 ba · 2,316 sqft · Townhouse public records · 108 Days on market

Built 1914 3,485 sqft lot $12/sqft · 55% below area

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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

This property is sold in a bundle with 2 vacant lots 2717 and 2721 Wreford. Not sold separately. Zoned R2. Both lots are $5000 each, totaling 38,500 for the bundle. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

Key facts

• 3,485 sq ft lot
• Built 1914
• Listed 107 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $28k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $28k).
• Recommended offer: $26k (9.0% below list) — sets the bar for market timing.
• Cap rate 73.3% 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: 184 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,264/mo this rent would consume 75% of the median local household income ($36k/yr) (locally 601% 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 $197 of loan paydown is wiped out by about $855 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($26k) 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 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,935 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 7.94% ✓
• Cap rate: 73.31%
• Cash-on-cash: 239.34%
• DSCR: 11.65
• GRM: 1.0

CMA / ARV

• ARV (median comp): $63,173
• List price: $28,500
• Delta: -54.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 13.13×
• Total profit: $96,786
• Equity at exit: $4,249

10-year hold

• IRR: —
• Equity multiple: 27.94×
• Total profit: $214,950
• Equity at exit: $2,464

Cash invested: $7,980 (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 48208

• Home prices YoY: -5.9%
• Active inventory: 184
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $2,264 high
• Mortgage (P&I): −$149
• Tax est. 1.5%: −$36 /mo · $428/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $1,592

Break-even live

Break-even rent $249

Max offer price $28,500

Occupancy floor 25%

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: $7,125
• Closing costs: $855
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	0.93mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	1d	1	0.99mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	1d	1	1.11mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	1.13mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	1.14mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	1.14mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	1d	1	1.14mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.16mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	43d	1	1.20mi
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	16d	1	1.42mi
3934 Avery St Detroit, MI	5.0	2.0	2500	$3,000	$1.20	43d	1	1.46mi

Listing history 14 events

1. 2026-06-18
   days on market $28,500 Active 108 DOM
2. 2026-06-17
   days on market $28,500 Active 107 DOM
3. 2026-06-15
   days on market $28,500 Active 105 DOM
4. 2026-06-13
   days on market $28,500 Active 103 DOM
5. 2026-06-13
   days on market $28,500 Active 102 DOM
6. 2026-06-09
   days on market $28,500 Active 99 DOM
7. 2026-06-08
   days on market $28,500 Active 98 DOM
8. 2026-06-07
   days on market $28,500 Active 97 DOM
9. 2026-06-04
   days on market $28,500 Active 94 DOM
10. 2026-06-03
    days on market $28,500 Active 93 DOM
11. 2026-06-01
    days on market $28,500 Active 91 DOM
12. 2026-05-31
    days on market $28,500 Active 90 DOM
13. 2026-03-02
    listed $28,500 Active 843-char remark

    Show marketing remark (843 chars)

    This property is sold in a bundle with 2 vacant lots 2717 and 2721 Wreford. Not sold separately. Zoned R2. Both lots are $5000 each, totaling 38,500 for the bundle. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

14. 2026-03-02
    listed $28,500 Active 843-char remark

    Show marketing remark (843 chars)

    This property is sold in a bundle with 2 vacant lots 2717 and 2721 Wreford. Not sold separately. Zoned R2. Both lots are $5000 each, totaling 38,500 for the bundle. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

ⓘ 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: $27,168
• − Mortgage interest: −$1,596
• − Property taxes: −$428
• − Insurance: −$142
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$829
• Taxable income: $19,826
• Est. tax owed @ 24.0%: −$4,758
• After-tax cash flow: $14,341/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): 8,037
• Household income: $36,194
• Rent vs Own: 65.7% rent · 34.3% own
• Severe rent burden: 601.0

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 (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% Arabic 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: ▼ -10.56%
• Current HPI: 168.8907
• 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

2 events — show timeline

• 2026-03-02 Listed $28,500 MiRealSource-MiMLS
• 2026-03-02 Listed $28,500 REALCOMP

Property tax history

+9.5%/yr

Latest (2025): $1,958 · +0.0% YoY. Source: county tax records.