1104 E Grand Blvd · Detroit, MI 48207

$140,000

4 bd · 3.5 ba · 3,174 sqft · MultiFamily public records · 1 Days on market

Built 1908 6,098 sqft lot $44/sqft · 56% below area ↓ 12% since listing

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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 +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
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Multi-family units

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

Listing remarks MLS

Vacant 2-family on Detroit's historic East Grand Boulevard - value-add opportunity in a corridor seeing real investment near Islandview, West Village, Belle Isle, and the East Riverfront. Solid 1908 brick duplex, approximately 3,174 SF across two units, each laid out for 2 bed / 1 bath / 1 kitchen. All interiors are undeveloped and ready for full build-out, giving an investor or owner-occupant a clean slate. Full unfinished basement adds storage or expansion capacity. Sits on a 6,011 SF lot (0.138 acres) with 43' x 139' parcel dimensions. Zoned R5 – Medium Density Residential, which keeps redevelopment options open. On-street parking, pitched roof, no HVAC installed, electrical condition to be verified by buyer. Surrounding blocks are seeing active residential and mixed-use redevelopment. Ideal for investors, developers, or buyers chasing a value-add multi-family project with upside. Sold as-is.

Key facts

• Zoned r5
• 6,098 sq ft lot
• Built 1908

Tags

• HISTORIC EAST GRAND BOULEVARD
• SOLID 1908 BRICK DUPLEX
• FULL UNFINISHED BASEMENT
• ZONED R5
• MEDIUM DENSITY RESIDENTIAL

Property features AI

Finance

• Other: Zoned for MultiFamily/Residential

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Residential income property
• Construction: Brick construction; Brick/mortar foundation; Built above grade finished area of 3,174
• Exterior features: Paved road access; Alley frontage; Pets allowed

Interior

• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.8-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $649/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 17.4% 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 (+3.5%/yr); 244 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,711/mo this rent would consume 68% 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 $968 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

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 1908 — 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: 1.94% ✓
• Cap rate: 17.42%
• Cash-on-cash: 39.73%
• DSCR: 2.77
• GRM: 4.3

CMA / ARV

• ARV (median comp): $314,618
• List price: $140,000
• Delta: -49.14%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4613 Meldrum St	0.46mi	4/2.0	2,878 (-9%)	1mo	$4,250	$1	56
3631 Helen St	0.58mi	5/2.0 (+1)	2,860 (-10%)	16mo	$85,000	$30	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 36.9%
• Equity multiple: 2.60×
• Total profit: $62,611
• Equity at exit: $22,180

10-year hold

• IRR: 43.6%
• Equity multiple: 5.28×
• Total profit: $167,885
• Equity at exit: $14,358

Cash invested: $39,200 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 244
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,711 high
• Mortgage (P&I): −$734
• Tax from tax record: −$51 /mo · $618/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $1,298

Break-even live

Break-even rent $1,068

Max offer price $140,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,377	-5% $1,337	+0% $1,298	+5% $1,258	+10% $1,218
Rent	-10% $1,084	-5% $1,191	+0% $1,298	+5% $1,405	+10% $1,512
Rate	-1.0pp $1,368	-0.5pp $1,333	base $1,298	+0.5pp $1,261	+1.0pp $1,225

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.8	$2,712
Total (2 units)			$2,711

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	44d	1	0.55mi
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	44d	1	1.37mi

Listing history 3 events

1. 2026-06-17
   pricedays on marketlisting id $140,000 Active 1 DOM

   Show marketing remark (929 chars)

   Vacant 2-family on Detroit's historic East Grand Boulevard - value-add opportunity in a corridor seeing real investment near Islandview, West Village, Belle Isle, and the East Riverfront. Solid 1908 brick duplex, approximately 3,174 SF across two units, each laid out for 2 bed / 1 bath / 1 kitchen. All interiors are undeveloped and ready for full build-out, giving an investor or owner-occupant a clean slate. Full unfinished basement adds storage or expansion capacity. Sits on a 6,011 SF lot (0.138 acres) with 43' x 139' parcel dimensions. Zoned R5 – Medium Density Residential, which keeps redevelopment options open. On-street parking, pitched roof, no HVAC installed, electrical condition to be verified by buyer. Surrounding blocks are seeing active residential and mixed-use redevelopment. Ideal for investors, developers, or buyers chasing a value-add multi-family project with upside. Sold as-is.

2. 2025-12-02
   listed $160,000 Active 1160-char remark
3. 2025-12-02
   listed $160,000 Active 1163-char remark

ⓘ 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: $618 · $51/mo
• Projected year-2 tax: $1,387 · $116/mo
• Expected delta: +$769/yr (+$64/mo · 124.6%)

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

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 · 14 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: $32,532
• − Mortgage interest: −$7,842
• − Property taxes: −$618
• − Insurance: −$700
• − Repairs & maintenance: −$2,603
• − Management: −$2,603
• − Depreciation: −$4,073
• Taxable income: $14,094
• Est. tax owed @ 24.0%: −$3,383
• After-tax cash flow: $12,190/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

-12.5% since first listed

6 events — show timeline

• 2026-06-17 Listed $140,000 REALCOMP
• 2026-06-17 Listed $140,000 MiRealSource-MiMLS
• 2026-05-30 Listing Removed — MiRealSource-MiMLS
• 2026-05-30 Listing Removed — REALCOMP
• 2025-12-02 Listed $160,000 MiRealSource-MiMLS
• 2025-12-02 Listed $160,000 REALCOMP

Property tax history

-9.2%/yr

Latest (2025): $618 · +1.3% YoY. Source: county tax records.