1947 Clairmount St · Detroit, MI 48206

$99,900

4 bd · 2.0 ba · 2,337 sqft · SingleFamily · 13 Days on market

Built 1923 Average condition 6,534 sqft lot $43/sqft · 72% below 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
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Big upside potential on this Joy Park brick two-story - ready for your vision. Taken down to the studs, this property was previously configured as a duplex, offering flexible possibilities for investors or owner-occupants. The previous owner has already made key updates, including new windows and initial framing, and the roof appears to be in solid condition. Located at the corner of Clairmount and Rosa Parks, you're just steps from local favorites like Congregation and The Rectory, with Gordon Park right across the street. A prime opportunity in a growing area - bring your plans and unlock the potential.

Key facts

• 6,534 sq ft lot
• Built 1923
• Listed 13 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public sewer available; Municipal water available
• Home design: Single-family residence; Two-story; Ground-level entry with steps; Brick exterior
• Construction: Built with block foundation
• Exterior features: Paved road access; Lot dimensions approximately 52.5 x 120.5 (0.15 acre)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Six total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 19.8% 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: Rents rising fast (+5.2%/yr); 271 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2,301/mo this rent would consume 61% of the median local household income ($45k/yr) (locally 646% 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 $691 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 (-3.0% appreciation + 5.2% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.30% ✓
• Cap rate: 19.83%
• Cash-on-cash: 48.36%
• DSCR: 3.15
• GRM: 3.6

CMA / ARV

• ARV (median comp): $356,217
• List price: $99,900
• Delta: -71.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2041 Atkinson St	0.11mi	4/2.5	2,308 (-1%)	2mo	$235,000	$102	89
1727 Edison St	0.16mi	4/2.5	2,410 (+3%)	4mo	$117,000	$49	82
2011 Atkinson St	0.09mi	4/2.0	2,084 (-11%)	3mo	$245,000	$118	75
1419 Atkinson St	0.37mi	5/2.5 (+1)	2,274 (-3%)	1mo	$225,000	$99	70
2281 Atkinson St	0.23mi	4/1.5	2,103 (-10%)	4mo	$325,000	$155	67
1129 Atkinson St	0.52mi	4/2.5	2,288 (-2%)	4mo	$15,000	$7	67
1667 Edison St	0.20mi	5/2.5 (+1)	2,569 (+10%)	2mo	$439,900	$171	66
1441 Longfellow St	0.39mi	5/2.5 (+1)	2,463 (+5%)	2mo	$166,000	$67	64
2544 Atkinson St	0.45mi	5/2.5 (+1)	2,429 (+4%)	3mo	$225,000	$93	63
2016 Atkinson St	0.12mi	5/2.5 (+1)	2,001 (-14%)	3mo	$130,000	$65	61
2270 W Philadelphia St	0.41mi	4/2.0	2,590 (+11%)	3mo	$295,000	$114	60
1640 Estates Dr	0.67mi	4/3.0	2,674 (+14%)	0mo	$380,000	$142	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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 48.4%
• Equity multiple: 3.18×
• Total profit: $60,842
• Equity at exit: $14,895

10-year hold

• IRR: 54.9%
• Equity multiple: 7.00×
• Total profit: $167,905
• Equity at exit: $8,638

Cash invested: $27,972 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,301 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $1,127

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 46%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.18mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	0.21mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	0.34mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	0.34mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.34mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	0.45mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	2d	1	0.47mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	44d	1	0.54mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	0.55mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	0.78mi
634 Atkinson St Detroit, MI	3.0	3.5	3000	$6,500	$2.17	10d	1	0.84mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	0.99mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	17d	1	1.05mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	1.16mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.20mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.20mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	22d	1	1.20mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	2d	1	1.20mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	1.20mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	17d	1	1.26mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	10d	1	1.35mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	24d	1	1.37mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	44d	1	1.37mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	1.39mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	1.39mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	17d	1	1.41mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	2d	1	1.47mi

Listing history 4 events

1. 2026-05-13
   status Pending 612-char remark

   Show marketing remark (612 chars)

   Big upside potential on this Joy Park brick two-story - ready for your vision. Taken down to the studs, this property was previously configured as a duplex, offering flexible possibilities for investors or owner-occupants. The previous owner has already made key updates, including new windows and initial framing, and the roof appears to be in solid condition. Located at the corner of Clairmount and Rosa Parks, you're just steps from local favorites like Congregation and The Rectory, with Gordon Park right across the street. A prime opportunity in a growing area - bring your plans and unlock the potential.

2. 2026-05-13
   status Pending 626-char remark

   Show marketing remark (612 chars)

   Big upside potential on this Joy Park brick two-story - ready for your vision. Taken down to the studs, this property was previously configured as a duplex, offering flexible possibilities for investors or owner-occupants. The previous owner has already made key updates, including new windows and initial framing, and the roof appears to be in solid condition. Located at the corner of Clairmount and Rosa Parks, you're just steps from local favorites like Congregation and The Rectory, with Gordon Park right across the street. A prime opportunity in a growing area - bring your plans and unlock the potential.

3. 2026-04-29
   listed $99,900 Active 612-char remark

   Show marketing remark (612 chars)

   Big upside potential on this Joy Park brick two-story - ready for your vision. Taken down to the studs, this property was previously configured as a duplex, offering flexible possibilities for investors or owner-occupants. The previous owner has already made key updates, including new windows and initial framing, and the roof appears to be in solid condition. Located at the corner of Clairmount and Rosa Parks, you're just steps from local favorites like Congregation and The Rectory, with Gordon Park right across the street. A prime opportunity in a growing area - bring your plans and unlock the potential.

4. 2026-04-29
   listed $99,900 Active 626-char remark

   Show marketing remark (612 chars)

   Big upside potential on this Joy Park brick two-story - ready for your vision. Taken down to the studs, this property was previously configured as a duplex, offering flexible possibilities for investors or owner-occupants. The previous owner has already made key updates, including new windows and initial framing, and the roof appears to be in solid condition. Located at the corner of Clairmount and Rosa Parks, you're just steps from local favorites like Congregation and The Rectory, with Gordon Park right across the street. A prime opportunity in a growing area - bring your plans and unlock the potential.

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,609
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − Depreciation: −$2,906
• Taxable income: $12,691
• Est. tax owed @ 24.0%: −$3,046
• After-tax cash flow: $10,480/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.

Condition & rehab AI · 1 photo

Average 55/100 Moderate rehab

This 1947 Joy Park brick two-story requires moderate renovations, focusing on exterior and interior painting to enhance its curb appeal and resale value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior walls/paint — Needs fresh paint

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both paint interior walls — Improves interior aesthetics and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls/paint · Needs fresh paint	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both paint interior walls — Improves interior aesthetics and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-13 Pending — MiRealSource-MiMLS
• 2026-05-13 Pending — REALCOMP
• 2026-04-29 Listed $99,900 REALCOMP
• 2026-04-29 Listed $99,900 MiRealSource-MiMLS