6423 Hazlett St · Detroit, MI 48210

$175,000

4 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 18 Days on market

Built 1917 3,485 sqft lot

---

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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

At 6423 Hazlett, Detroit, MI 48210, this multi-family home delivers a smart, flexible setup for buy-and-hold investors or owner occupants looking for a true turnkey opportunity. Featuring two separate units with private entries and separate gas and electric in both, it is positioned in an up and coming neighborhood close to downtown Detroit, making it easy to attract and retain renters. Inside, you will find 6 bedrooms and 2 baths across 2,016 sq ft, configured as two 3-bedroom, 1-bath units. Both units have been extensively refreshed with updated electric and plumbing, freshly painted interiors, new kitchens, and new bathrooms. Add in new doors, new flooring, and new fixtures throughout, and you have a clean, consistent product that is ready to move in or rent out. The matching layouts support easier management and marketing, while the separate entrances preserve privacy for each household. From a landlord perspective, the separate utilities and clear unit separation help keep operations straightforward and expectations clear. The 3,441 sq ft lot offers a manageable footprint that helps keep exterior maintenance simple, while still providing breathing room around the building. This is the kind of low hassle setup investors appreciate, without giving up the advantages of a true two unit property. Location helps drive long term demand: you are near downtown Detroit, with quicker access to employers, events, and everyday city amenities. Combined with the major interior updates, this property is built for clarity, autonomy, and strong day one livability. If you want a multi-family asset with two 3-bedroom units, separate gas and electric, and major updates throughout, schedule a showing at 6423 Hazlett and request the full details today. Ready to move in or rent out!!!!!

Key facts

• New kitchens
• Two separate units
• Private entries

Tags

• TWO SEPARATE UNITS
• PRIVATE ENTRIES
• SEPARATE GAS AND ELECTRIC
• UPDATED ELECTRIC AND PLUMBING
• FRESHLY PAINTED INTERIORS
• NEW KITCHENS

Property features AI

Finance

• Other: Lot size approximately 0.08 acres (30 x 115)
• Financial info: Two rental units each currently renting for $1,600; Property type: Residential income (multi-family); Lot zoning: MultiFamily / Residential
• HOA & community: HOA/community details not specified

Exterior

• Parking: Parking details not specified
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family); Two-story building; Entry level details not specified; Facing direction not specified
• Construction: Brick construction; Block foundation; Built-up above-grade finished area: 2,016 total square feet
• Exterior features: Paved road access; Pets allowed (cats and dogs)

Interior

• Kitchen: Kitchens included in each unit
• Bedrooms: Two separate 3-bedroom units
• Flooring: Flooring details not specified
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Full unfinished basement
• Laundry & utility: Laundry/utility features not specified

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $654 ($8k/yr) — positive. Per door: $327/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.

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: 94 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($172k) 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 $150k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.28% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.02%
• DSCR: 1.71
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $68,544
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5393 Seebaldt St	0.17mi	4/2.0	2,020 (+0%)	10mo	$97,900	$48	83
5392 Seebaldt St	0.20mi	4/2.0	2,020 (+0%)	11mo	$65,000	$32	82
6073/6075 Whitewood St	0.30mi	4/2.0	1,938 (-4%)	4mo	$70,000	$36	76
6536 Firwood St	0.55mi	4/2.0	2,088 (+4%)	6mo	$70,000	$34	64
7409 Wetherby St	0.74mi	4/2.0	1,978 (-2%)	8mo	$65,000	$33	56
5378 Vancouver St	0.44mi	5/2.0 (+1)	2,088 (+4%)	18mo	$145,000	$69	53
6325 Scotten St	0.69mi	4/2.5	1,824 (-10%)	9mo	$30,000	$16	43

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $13,276
• Equity at exit: $26,093

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $65,106
• Equity at exit: $15,131

Cash invested: $49,000 (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 48210

• Home prices YoY: -22.3%
• Active inventory: 94
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,241 high
• Mortgage (P&I): −$918
• Tax from tax record: −$126 /mo · $1,508/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $654

Break-even live

Break-even rent $1,413

Max offer price $175,000

Occupancy floor 66%

Sensitivity live

Price	-10% $753	-5% $704	+0% $654	+5% $605	+10% $555
Rent	-10% $477	-5% $566	+0% $654	+5% $743	+10% $831
Rate	-1.0pp $742	-0.5pp $699	base $654	+0.5pp $609	+1.0pp $563

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,242
Total (2 units)			$2,241

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	17d	1	0.55mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	44d	1	0.63mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	1.09mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	25d	1	1.22mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	21d	1	1.38mi

Listing history 13 events

1. 2026-06-18
   days on market $175,000 Active 18 DOM
2. 2026-06-17
   days on market $175,000 Active 17 DOM
3. 2026-06-15
   days on market $175,000 Active 15 DOM
4. 2026-06-13
   days on market $175,000 Active 13 DOM
5. 2026-06-13
   days on market $175,000 Active 12 DOM
6. 2026-06-09
   days on market $175,000 Active 9 DOM
7. 2026-06-08
   days on market $175,000 Active 8 DOM
8. 2026-06-07
   days on market $175,000 Active 7 DOM
9. 2026-06-04
   days on market $175,000 Active 4 DOM
10. 2026-06-03
    days on market $175,000 Active 3 DOM
11. 2026-06-02
    days on market $175,000 Active 2 DOM
12. 2026-05-31
    remarks 699-char remark

    Show marketing remark (1798 chars)

    At 6423 Hazlett, Detroit, MI 48210, this multi-family home delivers a smart, flexible setup for buy-and-hold investors or owner occupants looking for a true turnkey opportunity. Featuring two separate units with private entries and separate gas and electric in both, it is positioned in an up and coming neighborhood close to downtown Detroit, making it easy to attract and retain renters. Inside, you will find 6 bedrooms and 2 baths across 2,016 sq ft, configured as two 3-bedroom, 1-bath units. Both units have been extensively refreshed with updated electric and plumbing, freshly painted interiors, new kitchens, and new bathrooms. Add in new doors, new flooring, and new fixtures throughout, and you have a clean, consistent product that is ready to move in or rent out. The matching layouts support easier management and marketing, while the separate entrances preserve privacy for each household. From a landlord perspective, the separate utilities and clear unit separation help keep operations straightforward and expectations clear. The 3,441 sq ft lot offers a manageable footprint that helps keep exterior maintenance simple, while still providing breathing room around the building. This is the kind of low hassle setup investors appreciate, without giving up the advantages of a true two unit property. Location helps drive long term demand: you are near downtown Detroit, with quicker access to employers, events, and everyday city amenities. Combined with the major interior updates, this property is built for clarity, autonomy, and strong day one livability. If you want a multi-family asset with two 3-bedroom units, separate gas and electric, and major updates throughout, schedule a showing at 6423 Hazlett and request the full details today. Ready to move in or rent out!!!!!

13. 2026-05-31
    listed $175,000 Active 1 DOM

    Show marketing remark (1798 chars)

    At 6423 Hazlett, Detroit, MI 48210, this multi-family home delivers a smart, flexible setup for buy-and-hold investors or owner occupants looking for a true turnkey opportunity. Featuring two separate units with private entries and separate gas and electric in both, it is positioned in an up and coming neighborhood close to downtown Detroit, making it easy to attract and retain renters. Inside, you will find 6 bedrooms and 2 baths across 2,016 sq ft, configured as two 3-bedroom, 1-bath units. Both units have been extensively refreshed with updated electric and plumbing, freshly painted interiors, new kitchens, and new bathrooms. Add in new doors, new flooring, and new fixtures throughout, and you have a clean, consistent product that is ready to move in or rent out. The matching layouts support easier management and marketing, while the separate entrances preserve privacy for each household. From a landlord perspective, the separate utilities and clear unit separation help keep operations straightforward and expectations clear. The 3,441 sq ft lot offers a manageable footprint that helps keep exterior maintenance simple, while still providing breathing room around the building. This is the kind of low hassle setup investors appreciate, without giving up the advantages of a true two unit property. Location helps drive long term demand: you are near downtown Detroit, with quicker access to employers, events, and everyday city amenities. Combined with the major interior updates, this property is built for clarity, autonomy, and strong day one livability. If you want a multi-family asset with two 3-bedroom units, separate gas and electric, and major updates throughout, schedule a showing at 6423 Hazlett and request the full details today. Ready to move in or rent out!!!!!

ⓘ 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: $1,508 · $126/mo
• Projected year-2 tax: $2,102 · $175/mo
• Expected delta: +$593/yr (+$49/mo · 39.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $26,892
• − Mortgage interest: −$9,803
• − Property taxes: −$1,508
• − Insurance: −$875
• − Repairs & maintenance: −$2,151
• − Management: −$2,151
• − Depreciation: −$5,091
• Taxable income: $5,312
• Est. tax owed @ 24.0%: −$1,275
• After-tax cash flow: $6,574/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
• City population: 572,865
• Population (ZIP): 26,925

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 20% Black 17% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 44% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 2% Danish 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 50% Arabic 10%

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: ▼ -85.82%
• Current HPI: 299.5909
• Rent YoY: —
• Metro: —
• 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

+16.7% since first listed

3 events — show timeline

• 2026-05-31 Listed $175,000 REALCOMP
• 2026-05-31 Listed $175,000 MiRealSource-MiMLS
• 2022-02-28 Sold (Public Records) $150,000 Public Records

Property tax history

+14.5%/yr

Latest (2025): $1,508 · -8.7% YoY. Source: county tax records.