4764 Pennsylvania St · Detroit, MI 48214

$32,900

3 bd · 1.0 ba · 773 sqft · SingleFamily public records · 70 Days on market

Built 1910 8,276 sqft lot $43/sqft · at area comps Est $33k · at est. ↓ 6% 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 +7.6/15.0
• 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 treasured home offers two bedrooms, single bathroom and space to envision your makeover. . This property represents a unique opportunity for those seeking a single family residence with a distinct historical foundation. Comes with vacant lot which presents a great opportunity to build a garage or an all new structure. You decide!

Key facts

• Vacant lot
• Private bedrooms
• Single bathroom

Tags

• PRIVATE BEDROOMS
• SINGLE BATHROOM
• VACANT LOT
• HISTORICAL FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $31k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.9% 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 41% of the median local income ($34k/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 $227 of loan paydown is wiped out by about $987 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,926 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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.
8. 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.
9. 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: 3.46% ✓
• Cap rate: 31.93%
• Cash-on-cash: 91.55%
• DSCR: 5.07
• GRM: 2.4

CMA / ARV

• ARV (median comp): $33,000
• List price: $32,900
• Delta: -0.30%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5071 Saint Clair St	0.34mi	3/1.0	872 (+13%)	1mo	$12,000	$14	62
4846 Crane St	0.40mi	2/1.0 (-1)	750 (-3%)	15mo	$30,000	$40	59
5572 Cadillac Ave	0.47mi	2/1.0 (-1)	735 (-5%)	13mo	$14,000	$19	54
4482 Harding St	0.40mi	3/1.0	847 (+10%)	15mo	$20,000	$24	53
5325 Fischer St	0.57mi	2/1.0 (-1)	787 (+2%)	19mo	$28,000	$36	50
5561 Pennsylvania St	0.45mi	4/1.5 (+1)	868 (+12%)	12mo	$105,000	$121	42

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: 92.3%
• Equity multiple: 5.28×
• Total profit: $39,431
• Equity at exit: $4,905

10-year hold

• IRR: 95.1%
• Equity multiple: 10.98×
• Total profit: $91,969
• Equity at exit: $2,845

Cash invested: $9,212 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,139 high
• Mortgage (P&I): −$173
• Tax from tax record: −$11 /mo · $130/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $703

Break-even live

Break-even rent $249

Max offer price $32,900

Occupancy floor 33%

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.31mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	2d	1	0.36mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	2d	1	0.36mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	0.36mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	0.71mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	44d	1	0.72mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	0.76mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	0.81mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.81mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	44d	1	0.82mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	0.85mi
3049 Montclair St Unit 1 Detroit, MI	2.0	1.0	850	$950	$1.12	44d	1	0.90mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	24d	1	1.07mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	1.13mi
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	44d	1	1.15mi
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	1.34mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	1.35mi
3980 Helen St Detroit, MI	2.0	1.0	800	$845	$1.06	17d	1	1.37mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	1.37mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $32,900 Active 70 DOM
2. 2026-06-17
   days on market $32,900 Active 69 DOM
3. 2026-06-15
   days on market $32,900 Active 67 DOM
4. 2026-06-13
   days on market $32,900 Active 65 DOM
5. 2026-06-13
   days on market $32,900 Active 64 DOM
6. 2026-06-09
   days on market $32,900 Active 61 DOM
7. 2026-06-08
   days on market $32,900 Active 60 DOM
8. 2026-06-07
   days on market $32,900 Active 59 DOM
9. 2026-06-04
   days on market $32,900 Active 56 DOM
10. 2026-06-03
    days on market $32,900 Active 55 DOM
11. 2026-06-02
    days on market $32,900 Active 54 DOM
12. 2026-06-01
    days on market $32,900 Active 53 DOM
13. 2026-05-31
    days on market $32,900 Active 52 DOM
14. 2026-04-24
    price $32,900 336-char remark

    Show marketing remark (336 chars)

    This treasured home offers two bedrooms, single bathroom and space to envision your makeover. . This property represents a unique opportunity for those seeking a single family residence with a distinct historical foundation. Comes with vacant lot which presents a great opportunity to build a garage or an all new structure. You decide!

15. 2026-04-23
    price $32,900 336-char remark

    Show marketing remark (336 chars)

    This treasured home offers two bedrooms, single bathroom and space to envision your makeover. . This property represents a unique opportunity for those seeking a single family residence with a distinct historical foundation. Comes with vacant lot which presents a great opportunity to build a garage or an all new structure. You decide!

16. 2026-04-09
    listed $34,900 Active 336-char remark

    Show marketing remark (336 chars)

    This treasured home offers two bedrooms, single bathroom and space to envision your makeover. . This property represents a unique opportunity for those seeking a single family residence with a distinct historical foundation. Comes with vacant lot which presents a great opportunity to build a garage or an all new structure. You decide!

17. 2026-04-07
    listed $34,900 Active 336-char remark

    Show marketing remark (336 chars)

    This treasured home offers two bedrooms, single bathroom and space to envision your makeover. . This property represents a unique opportunity for those seeking a single family residence with a distinct historical foundation. Comes with vacant lot which presents a great opportunity to build a garage or an all new structure. You decide!

ⓘ 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: $130 · $11/mo
• Projected year-2 tax: $318 · $27/mo
• Expected delta: +$188/yr (+$16/mo · 144.9%)

ⓘ 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: $13,669
• − Mortgage interest: −$1,843
• − Property taxes: −$130
• − Insurance: −$164
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$957
• Taxable income: $8,388
• Est. tax owed @ 24.0%: −$2,013
• After-tax cash flow: $6,421/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

-5.7% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $32,900 MiRealSource-MiMLS
• 2026-04-23 Price Changed $32,900 REALCOMP
• 2026-04-09 Listed $34,900 REALCOMP
• 2026-04-07 Listed $34,900 MiRealSource-MiMLS

Property tax history

-11.8%/yr

Latest (2025): $130 · -50.2% YoY. Source: county tax records.