17328 Indiana St · Detroit, MI 48221

$190,000

4 bd · 2.0 ba · 2,321 sqft · MultiFamily public records · 13 Days on market

Built 1928 4,792 sqft lot

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• 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

SHOWN UPON ACCEPTED OFFER ONLY. Solid Brick 2 unit income producing property fully occupied currently bringing approx $20k/year in gross rents. One unit is 3 bedrooms/ 1 bath. The other is 2 bedrooms /1 bath. There is a basement. * Do not disturb tenant. The building is currently professionally managed and shown upon accepted offer only. Lease & ledger provided after accepted offer and during inspection period. AGENTS: See agent remarks or showing time for the instructions and link to submit your offer. Do NOT email offers!

Key facts

• 4,792 sq ft lot
• Built 1928
• Listed 12 days

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Two-story multi-family residential income property; Brick exterior
• Construction: Brick construction; Block foundation; Built area above grade: 2,321 square feet
• Exterior features: Private maintained road access; Private road frontage; Pets allowed with size limit

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Unfinished basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive. Per door: $352/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).

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 (+3.4%/yr); 349 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,553/mo this rent would consume 53% of the median local household income ($58k/yr) (locally 1646% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.4% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 13y 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.
• Current owner paid $110k; list at $190k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,000

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 1928 — 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: 1.34% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.88%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $120,692
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17200 Roselawn St	0.30mi	4/2.0	2,293 (-1%)	3mo	$225,400	$98	82
16644 Washburn St	0.38mi	4/2.0	2,263 (-2%)	7mo	$65,000	$29	72
17327 Indiana St	0.03mi	5/2.0 (+1)	2,555 (+10%)	6mo	$115,000	$45	71
17545 Roselawn St	0.30mi	5/2.0 (+1)	2,390 (+3%)	7mo	$165,000	$69	70
17532 Wisconsin St	0.14mi	4/2.0	2,052 (-12%)	5mo	$220,000	$107	70
17385 Kentucky St	0.10mi	5/2.0 (+1)	2,549 (+10%)	5mo	$121,000	$47	69
17375 Kentucky St St	0.10mi	4/2.0	2,049 (-12%)	8mo	$70,000	$34	69
16631 Birwood St	0.51mi	5/2.0 (+1)	2,240 (-4%)	3mo	$55,000	$25	63
16505 Indiana St	0.48mi	4/2.0	2,167 (-7%)	6mo	$129,000	$60	62
10517 Curtis St	0.54mi	4/2.0	2,148 (-8%)	2mo	$210,000	$98	61
17606 Roselawn St	0.35mi	5/2.0 (+1)	2,574 (+11%)	8mo	$113,000	$44	54
15852 Washburn St	0.74mi	4/2.0	2,398 (+3%)	8mo	$125,000	$52	53

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.29×
• Total profit: $15,212
• Equity at exit: $28,330

10-year hold

• IRR: 17.0%
• Equity multiple: 2.43×
• Total profit: $75,825
• Equity at exit: $16,428

Cash invested: $53,200 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,553 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $704

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 67%

Sensitivity live

Price	-10% $835	-5% $769	+0% $704	+5% $638	+10% $573
Rent	-10% $502	-5% $603	+0% $704	+5% $805	+10% $906
Rate	-1.0pp $800	-0.5pp $752	base $704	+0.5pp $655	+1.0pp $605

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,313
1× unit	2	1	$1,240
Total (2 units)			$2,553

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.33mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	0.43mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	18d	1	0.53mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.84mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	44d	1	1.02mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	44d	1	1.37mi

Listing history 10 events

1. 2026-06-21
   days on market $190,000 Active 13 DOM
2. 2026-06-18
   days on market $190,000 Active 10 DOM
3. 2026-06-17
   days on market $190,000 Active 9 DOM
4. 2026-06-16
   days on market $190,000 Active 8 DOM
5. 2026-06-15
   days on market $190,000 Active 7 DOM
6. 2026-06-13
   days on market $190,000 Active 5 DOM
7. 2026-06-13
   remarks 638-char remark
8. 2026-06-13
   days on market $190,000 Active 4 DOM
9. 2026-06-09
   remarks 531-char remark
10. 2026-06-09
    listed $190,000 Active 1 DOM

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,636
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − Depreciation: −$5,527
• Taxable income: $5,764
• Est. tax owed @ 24.0%: −$1,383
• After-tax cash flow: $7,063/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+1084.0% since first listed

34 events — show timeline

• 2026-06-08 Listed $190,000 MiRealSource-MiMLS
• 2026-06-08 Listed $190,000 REALCOMP
• 2026-04-12 Rental Removed $799 SHOWMOJO
• 2026-04-02 Listed for Rent $799 SHOWMOJO
• 2026-02-18 Rental Removed $850 SHOWMOJO
• 2026-02-13 Listed for Rent $850 SHOWMOJO
• 2022-12-07 Sold (Public Records) $110,000 Public Records
• 2022-12-01 Sold (MLS) $110,000 MiRealSource-MiMLS
• 2022-12-01 Sold (MLS) $110,000 REALCOMP
• 2022-11-15 Pending — MiRealSource-MiMLS
• 2022-11-15 Pending — REALCOMP
• 2022-11-13 Contingent — MiRealSource-MiMLS
• 2022-11-11 Contingent — REALCOMP
• 2022-09-23 Relisted — MiRealSource-MiMLS
• 2022-09-23 Relisted — REALCOMP
• 2022-08-06 Pending — MiRealSource-MiMLS
• 2022-08-06 Pending — REALCOMP
• 2022-07-29 Listed $145,999 MiRealSource-MiMLS
• 2022-07-29 Listed $145,999 REALCOMP
• 2022-01-03 Listing Removed — REALCOMP
• 2021-12-31 Pending — MiRealSource-MiMLS
• 2021-12-20 Listing Removed — MiRealSource-MiMLS
• 2021-12-19 Pending — REALCOMP
• 2021-12-19 Listing Removed — MiRealSource-MiMLS
• 2021-11-29 Listed $130,000 MiRealSource-MiMLS
• 2021-11-29 Listed $130,000 REALCOMP
• 2018-11-12 Sold (Public Records) $140,000 Public Records
• 2018-10-24 Sold (Public Records) $65,000 Public Records
• 2014-02-26 Sold (MLS) $17,000 REALCOMP
• 2014-02-26 Sold (MLS) $17,000 MiRealSource-MiMLS
• 2014-01-29 Listing Removed — MiRealSource-MiMLS
• 2013-11-14 Listed $18,500 REALCOMP
• 2013-11-14 Listed $18,500 MiRealSource-MiMLS
• 1996-11-13 Sold (Public Records) $16,047 Public Records

Property tax history

+18.2%/yr

Latest (2025): $11,845 · +1.0% YoY. Source: county tax records.