5462 Parker St · Detroit, MI 48213

$69,900

3 bd · 1.0 ba · 1,444 sqft · SingleFamily public records · 32 Days on market

Built 1910 3,485 sqft lot $48/sqft · 76% above area

---

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 +7.5/15.0
• 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

Listing remarks

Welcome to this beautifully updated Detroit home conveniently located in the Gratiot town neighborhood, minutes away from Downtown Detroit, Belle Isle, Pingree Park, Eastern Market and so much more. Step inside to find new flooring throughout the first floor, a remodeled kitchen with brand-new cabinets and matching countertop, and a fully refreshed bathroom with new tile, new toilet, and new vanity. First floor has a half bathroom for extra convenience. The home also offers some new light fixtures, new baseboards, new outlets. Attic can be finished for extra living space. Perfect for first time home buyers or investors. Rental estimate $1,100 - $1200. Schedule your showing today!!! All mea

Key facts

• New baseboards
• Remodeled kitchen
• New flooring

Tags

• UPDATED HOME
• REMODELED KITCHEN
• FULLY REFRESHED BATHROOM
• NEW FLOORING
• NEW LIGHT FIXTURES
• NEW BASEBOARDS

Property features AI

Finance

• Other: Lot roughly 0.08 acres (30 x 110); Subdivision: YOUNGBLOOD CASGRAIN & CULLENS

Exterior

• Parking: No garage
• Utilities: Water available; Public sewer
• Home design: Single-family residence; Two stories; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built area above grade approximately 1,274 square feet
• Exterior features: Paved road access

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.5% 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: 192 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,289/mo this rent would consume 45% of the median local household income ($34k/yr) (locally 1202% 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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 4y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $70k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.84% ✓
• Cap rate: 15.48%
• Cash-on-cash: 32.80%
• DSCR: 2.46
• GRM: 4.5

CMA / ARV

• ARV (median comp): $35,050
• List price: $69,900
• Delta: 99.43%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5171 Burns St	0.31mi	3/1.0	1,425 (-1%)	3mo	$20,000	$14	81
5115 Seyburn St	0.26mi	3/1.0	1,400 (-3%)	8mo	$15,000	$11	77
5239 Crane St	0.40mi	3/1.0	1,404 (-3%)	4mo	$24,500	$17	73
5014 Townsend St	0.39mi	3/1.0	1,388 (-4%)	8mo	$10,000	$7	69
5730 Field St	0.36mi	4/2.0 (+1)	1,476 (+2%)	3mo	$15,000	$10	68
4481 Seminole St	0.58mi	3/1.5	1,426 (-1%)	8mo	$77,000	$54	62
4475 Field St	0.68mi	4/1.0 (+1)	1,471 (+2%)	2mo	$45,000	$31	58
5326 Belvidere St	0.61mi	4/1.5 (+1)	1,469 (+2%)	5mo	$82,500	$56	57
6026 Maxwell St	0.34mi	4/1.0 (+1)	1,266 (-12%)	2mo	$10,000	$8	57
6215 Field St	0.58mi	3/1.0	1,229 (-15%)	3mo	$13,000	$11	46
6631 Seminole St	0.65mi	3/1.5	1,248 (-14%)	2mo	$24,000	$19	44
4258 Seneca St	0.71mi	3/1.5	1,655 (+15%)	1mo	$144,000	$87	40

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: 27.9%
• Equity multiple: 2.16×
• Total profit: $22,764
• Equity at exit: $10,422

10-year hold

• IRR: 35.4%
• Equity multiple: 4.26×
• Total profit: $63,774
• Equity at exit: $6,044

Cash invested: $19,572 (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 48213

• Active inventory: 192
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $535

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 53%

Sensitivity live

Price	-10% $583	-5% $559	+0% $535	+5% $511	+10% $487
Rent	-10% $433	-5% $484	+0% $535	+5% $586	+10% $637
Rate	-1.0pp $570	-0.5pp $553	base $535	+0.5pp $517	+1.0pp $498

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.12mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.29mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	18d	1	0.43mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	25d	1	0.76mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	0.81mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	25d	1	0.83mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	0.93mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	0.94mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	1.15mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	1.21mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.21mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	44d	1	1.22mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	18d	1	1.34mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.35mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	18d	1	1.36mi
3755 Ellery St Unit 1 Detroit, MI	2.0	1.0	915	$1,200	$1.31	25d	1	1.43mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.44mi

Listing history 49 events

1. 2026-06-09
   days on market $69,900 Active 32 DOM
2. 2026-06-08
   days on market $69,900 Active 31 DOM
3. 2026-06-07
   days on market $69,900 Active 30 DOM
4. 2026-06-04
   days on market $69,900 Active 27 DOM
5. 2026-06-03
   days on market $69,900 Active 26 DOM
6. 2026-06-02
   days on market $69,900 Active 25 DOM
7. 2026-06-01
   days on market $69,900 Active 24 DOM
8. 2026-05-31
   days on market $69,900 Active 23 DOM
9. 2026-05-07
   listed $75,000 Active 722-char remark
10. 2026-05-07
    listed $75,000 Active 723-char remark
11. 2026-04-22
    historical
12. 2026-04-15
    price $75,000
13. 2026-04-15
    price $75,000
14. 2026-03-11
    price $79,900
15. 2026-03-11
    price $79,900
16. 2026-02-17
    price $85,000
17. 2026-02-17
    price $85,000
18. 2026-01-30
    price $89,500
19. 2026-01-29
    price $89,500
20. 2025-12-11
    listed $95,000 Active
21. 2025-12-11
    listed $95,000 Active
22. 2024-03-01
    historical
23. 2024-03-01
    historical
24. 2024-02-21
    status Active
25. 2024-02-21
    status Active
26. 2024-01-29
    status Pending
27. 2024-01-29
    status Pending
28. 2023-12-04
    listed $94,500 Active
29. 2023-12-02
    listed $94,500 Active
30. 2023-11-20
    historical
31. 2023-11-20
    historical
32. 2023-10-02
    price $99,000
33. 2023-10-02
    price $99,000
34. 2023-09-12
    listed $105,000 Active
35. 2023-09-12
    listed $105,000 Active
36. 2023-06-01
    soldstatus $18,000 Sold
37. 2023-06-01
    soldstatus $18,000 Closed
38. 2023-05-19
    status Pending
39. 2023-05-19
    status Pending
40. 2023-05-18
    listed $20,000 Active
41. 2023-05-18
    historical
42. 2023-05-18
    listed $20,000 Active
43. 2023-05-18
    historical
44. 2023-01-31
    historical
45. 2023-01-31
    listed $30,000 Active
46. 2023-01-31
    listed $30,000 Active
47. 2023-01-31
    historical
48. 2022-10-04
    listed $48,000 Active
49. 2022-10-04
    listed $48,000 Active

ⓘ 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 ≥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: $15,464
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$2,033
• Taxable income: $5,642
• Est. tax owed @ 24.0%: −$1,354
• After-tax cash flow: $5,065/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+45.6% since first listed

46 events — show timeline

• 2026-06-11 Listing Removed — MiRealSource-MiMLS
• 2026-05-24 Relisted — REALCOMP
• 2026-05-23 Listing Removed — REALCOMP
• 2026-05-20 Price Changed $69,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $69,900 REALCOMP
• 2026-05-07 Listed $75,000 MiRealSource-MiMLS
• 2026-05-07 Listed $75,000 REALCOMP
• 2026-04-22 Listing Removed — MiRealSource-MiMLS
• 2026-04-15 Price Changed $75,000 MiRealSource-MiMLS
• 2026-04-15 Price Changed $75,000 REALCOMP
• 2026-03-11 Price Changed $79,900 MiRealSource-MiMLS
• 2026-03-11 Price Changed $79,900 REALCOMP
• 2026-02-17 Price Changed $85,000 MiRealSource-MiMLS
• 2026-02-17 Price Changed $85,000 REALCOMP
• 2026-01-30 Price Changed $89,500 MiRealSource-MiMLS
• 2026-01-29 Price Changed $89,500 REALCOMP
• 2025-12-11 Listed $95,000 REALCOMP
• 2025-12-11 Listed $95,000 MiRealSource-MiMLS
• 2024-03-01 Listing Removed — MiRealSource-MiMLS
• 2024-03-01 Listing Removed — REALCOMP
• 2024-02-21 Relisted — MiRealSource-MiMLS
• 2024-02-21 Relisted — REALCOMP
• 2024-01-29 Pending — REALCOMP
• 2024-01-29 Pending — MiRealSource-MiMLS
• 2023-12-04 Listed $94,500 REALCOMP
• 2023-12-02 Listed $94,500 MiRealSource-MiMLS
• 2023-11-20 Listing Removed — MiRealSource-MiMLS
• 2023-11-20 Listing Removed — REALCOMP
• 2023-10-02 Price Changed $99,000 MiRealSource-MiMLS
• 2023-10-02 Price Changed $99,000 REALCOMP
• 2023-09-12 Listed $105,000 MiRealSource-MiMLS
• 2023-09-12 Listed $105,000 REALCOMP
• 2023-06-01 Sold (MLS) $18,000 MiRealSource-MiMLS
• 2023-06-01 Sold (MLS) $18,000 REALCOMP
• 2023-05-19 Pending — MiRealSource-MiMLS
• 2023-05-19 Pending — REALCOMP
• 2023-05-18 Listing Removed — MiRealSource-MiMLS
• 2023-05-18 Listed $20,000 MiRealSource-MiMLS
• 2023-05-18 Listing Removed — REALCOMP
• 2023-05-18 Listed $20,000 REALCOMP
• 2023-01-31 Listing Removed — MiRealSource-MiMLS
• 2023-01-31 Listed $30,000 MiRealSource-MiMLS
• 2023-01-31 Listed $30,000 REALCOMP
• 2023-01-31 Listing Removed — REALCOMP
• 2022-10-04 Listed $48,000 MiRealSource-MiMLS
• 2022-10-04 Listed $48,000 REALCOMP

Property tax history

-1.1%/yr

Latest (2025): $3,556 · +0.7% YoY. Source: county tax records.