2110 Hyde Park Rd · Detroit, MI 48207

$89,900

2 bd · 1.5 ba · 1,710 sqft · Condo · 29 Days on market

Built 1973 $795/mo HOA · 38% of rent

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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 +26.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Two Bedroom townhouse coop with updated kitchen, oak cabinets, granite counter top and beautiful cermic tiled flooring, neutral decor t/o, privately fenced patio, nicely finshed bsmt for extra entertainment. Assn fee includes real estate taxes, furnace, water, hot water tank, plumbing, insurance, bldg & grds maintenance, snow removal, exterior and interior maninteance, capital reserve, admin feed. Located near conveniently near downtown.

Key facts

• Oak cabinets
• Finished basement
• Granite counter top

Tags

• UPDATED KITCHEN
• OAK CABINETS
• GRANITE COUNTER TOP
• CERAMIC TILED FLOORING
• PRIVATELY FENCED PATIO
• FINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (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: Rents rising (+3.5%/yr); 244 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,082/mo this rent would consume 52% of the median local household income ($48k/yr) (locally 2017% 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 (-2.8%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 (-2.8% appreciation + 3.5% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 2.32% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.89%
• DSCR: 1.48
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.79% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.10×
• Total profit: $2,399
• Equity at exit: $14,242

10-year hold

• IRR: 12.9%
• Equity multiple: 2.12×
• Total profit: $28,231
• Equity at exit: $9,220

Cash invested: $25,172 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 244
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$795
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $228

Break-even live

Break-even rent $1,793

Max offer price $89,900

Occupancy floor 84%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 Gratiot Ave Unit 202 Detroit, MI	1.0	1.0	1100	$1,995	$1.81	43d	1	0.32mi
1 Lafayette Plaisance St Detroit, MI	2.0	1.0	840	$2,337	$2.78	1d	28	0.38mi
1544 1566 E LAFAYETTE St Detroit, MI	2.0	1.0–2.0	848	$2,515	$2.97	2d	16	0.42mi
2928 Prince Hall Dr Detroit, MI	2.0	2.0	1425	$2,000	$1.40	4d	1	0.47mi
1348 Village Dr Detroit, MI	3.0	2.5	2100	$2,295	$1.09	24d	1	0.67mi
229 Orleans St Detroit, MI	1.0–2.0	1.0–2.5	1087	$2,779	$2.56	1d	10	0.76mi
500 River Pl Dr Detroit, MI	1.0–3.0	1.0–2.0	950	$1,625	$1.71	43d	1	0.85mi
310 Gratiot Ave Detroit, MI	2.0	1.0–2.0	753	$3,635	$4.83	20d	13	0.91mi
1323 Broadway St Detroit, MI	2.0	1.0	1500	$2,200	$1.47	43d	1	0.97mi
1440 Robert Bradby Dr Detroit, MI	2.0	2.0	1250	$1,472	$1.18	43d	1	0.98mi
555 Brush St Unit 2912 Detroit, MI	2.0	2.0	1265	$1,860	$1.47	44d	1	1.01mi
555 Brush St Unit 2706 Detroit, MI	2.0	2.0	1410	$2,075	$1.47	44d	1	1.01mi
66 Winder St #458 Detroit, MI	2.0	2.0	1300	$2,600	$2.00	24d	1	1.06mi
10 Witherell St Detroit, MI	1.0–2.0	1.0–2.5	1394	$6,000	$4.30	4d	8	1.06mi
3325 Gratiot Ave Unit R Detroit, MI	2.0	1.0	1200	$1,000	$0.83	43d	1	1.08mi
3323 Gratiot Ave Unit R Detroit, MI	2.0	1.0	1200	$975	$0.81	43d	1	1.08mi
1212 Griswold St Unit 1024685P Detroit, MI	2.0	2.0	1291	$11,873	$9.20	23d	1	1.16mi
600 Woodward Ave Detroit, MI	2.0	2.5	1392	$5,817	$4.18	1d	4	1.16mi
76 W Adams Ave Detroit, MI	1.0–2.0	1.0–2.0	881	$2,787	$3.16	24d	10	1.16mi
111 State St Unit 1024673P Detroit, MI	2.0	2.0	1291	$8,342	$6.46	23d	1	1.19mi
111 State St Unit 1024679P Detroit, MI	2.0	2.0	1248	$7,718	$6.18	12d	1	1.19mi
3500 E Jefferson Detroit, MI	1.0–2.0	1.0–2.0	1012	$2,560	$2.53	1d	5	1.20mi
200 Mount Elliott St Detroit, MI	1.0	1.0	1050	$2,000	$1.90	43d	1	1.21mi
150 Bagley St Detroit, MI	1.0–2.0	1.0–2.5	960	$4,100	$4.27	17d	1	1.23mi
1265 Washington Blvd Detroit, MI	2.0	1.0–2.5	944	$5,560	$5.89	1d	9	1.25mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1094	$1,500	$1.37	17d	2	1.29mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1181	$1,500	$1.27	24d	3	1.29mi
6533 E Jefferson Ave #421 Detroit, MI	2.0	1.0	1063	$2,200	$2.07	14d	1	1.29mi
3439 Woodward Ave Detroit, MI	2.0	1.0–2.0	901	$3,400	$3.77	1d	5	1.34mi
321 W Lafayette Blvd Detroit, MI	1.0–2.0	1.0–2.0	834	$3,135	$3.76	2d	4	1.36mi
525 W Lafayette Blvd Detroit, MI	1.0–3.0	1.0–2.0	1546	$3,025	$1.96	2d	4	1.48mi
525 W Lafayette Blvd Detroit, MI	2.0–3.0	2.0	1546	$2,225	$1.44	43d	3	1.48mi

HOA detail condo

• Monthly dues: $795 · $9,540/yr
• Likely covers: watersnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-04-03
   status Pending

   Show marketing remark (447 chars)

   Two Bedroom townhouse coop with updated kitchen, oak cabinets, granite counter top and beautiful cermic tiled flooring, neutral decor t/o, privately fenced patio, nicely finshed bsmt for extra entertainment. Assn fee includes real estate taxes, furnace, water, hot water tank, plumbing, insurance, bldg & grds maintenance, snow removal, exterior and interior maninteance, capital reserve, admin feed. Located near conveniently near downtown.

2. 2026-04-03
   status Pending 447-char remark

   Show marketing remark (447 chars)

   Two Bedroom townhouse coop with updated kitchen, oak cabinets, granite counter top and beautiful cermic tiled flooring, neutral decor t/o, privately fenced patio, nicely finshed bsmt for extra entertainment. Assn fee includes real estate taxes, furnace, water, hot water tank, plumbing, insurance, bldg & grds maintenance, snow removal, exterior and interior maninteance, capital reserve, admin feed. Located near conveniently near downtown.

3. 2026-03-04
   listed $89,900 Active

   Show marketing remark (447 chars)

   Two Bedroom townhouse coop with updated kitchen, oak cabinets, granite counter top and beautiful cermic tiled flooring, neutral decor t/o, privately fenced patio, nicely finshed bsmt for extra entertainment. Assn fee includes real estate taxes, furnace, water, hot water tank, plumbing, insurance, bldg & grds maintenance, snow removal, exterior and interior maninteance, capital reserve, admin feed. Located near conveniently near downtown.

4. 2026-03-04
   listed $89,900 Active 447-char remark

   Show marketing remark (447 chars)

   Two Bedroom townhouse coop with updated kitchen, oak cabinets, granite counter top and beautiful cermic tiled flooring, neutral decor t/o, privately fenced patio, nicely finshed bsmt for extra entertainment. Assn fee includes real estate taxes, furnace, water, hot water tank, plumbing, insurance, bldg & grds maintenance, snow removal, exterior and interior maninteance, capital reserve, admin feed. Located near conveniently near downtown.

5. 2026-02-19
   historical
6. 2026-02-19
   historical
7. 2026-02-18
   status Active
8. 2026-02-18
   price $89,900
9. 2025-11-03
   status Pending
10. 2025-11-03
    status Pending
11. 2025-11-03
    price $89,900
12. 2025-10-09
    price $85,000
13. 2025-10-08
    price $85,000
14. 2025-09-16
    price $120,000
15. 2025-09-16
    price $120,000
16. 2025-08-14
    price $135,000
17. 2025-08-14
    price $135,000
18. 2025-04-24
    status Active
19. 2025-04-24
    status Active
20. 2025-04-16
    historical
21. 2025-04-10
    listed $150,000 Active
22. 2025-04-10
    listed $150,000 Active
23. 2008-11-15
    historical
24. 2008-05-16
    listed $50,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,981
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − HOA: −$9,540
• − Depreciation: −$2,615
• Taxable income: $1,995
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $2,261/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): 20,848
• Household income: $47,831
• Rent vs Own: 74.2% rent · 25.8% own
• Severe rent burden: 2017.0

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 (74%)
• Race & ethnicity: Black 74% White 18% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% 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: ▼ -2.79%
• Current HPI: 136.6328
• Rent YoY: ▲ 3.53%
• 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

+79.8% since first listed

24 events — show timeline

• 2026-04-03 Pending — REALCOMP
• 2026-04-03 Pending — MiRealSource-MiMLS
• 2026-03-04 Listed $89,900 MiRealSource-MiMLS
• 2026-03-04 Listed $89,900 REALCOMP
• 2026-02-19 Listing Removed — REALCOMP
• 2026-02-19 Listing Removed — MiRealSource-MiMLS
• 2026-02-18 Relisted — REALCOMP
• 2026-02-18 Price Changed $89,900 REALCOMP
• 2025-11-03 Pending — MiRealSource-MiMLS
• 2025-11-03 Pending — REALCOMP
• 2025-11-03 Price Changed $89,900 MiRealSource-MiMLS
• 2025-10-09 Price Changed $85,000 MiRealSource-MiMLS
• 2025-10-08 Price Changed $85,000 REALCOMP
• 2025-09-16 Price Changed $120,000 MiRealSource-MiMLS
• 2025-09-16 Price Changed $120,000 REALCOMP
• 2025-08-14 Price Changed $135,000 MiRealSource-MiMLS
• 2025-08-14 Price Changed $135,000 REALCOMP
• 2025-04-24 Relisted — MiRealSource-MiMLS
• 2025-04-24 Relisted — REALCOMP
• 2025-04-16 Listing Removed — MiRealSource-MiMLS
• 2025-04-10 Listed $150,000 MiRealSource-MiMLS
• 2025-04-10 Listed $150,000 REALCOMP
• 2008-11-15 Listing Removed — REALCOMP
• 2008-05-16 Listed $50,000 REALCOMP