1679 Lemay St · Detroit, MI 48214

$49,900

3 bd · 1.5 ba · 1,432 sqft · SingleFamily public records · 65 Days on market

Built 1910 3,049 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 +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 MLS

A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

Key facts

• 3,049 sq ft lot
• Built 1910
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.7% 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: 298 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,437/mo this rent would consume 51% of the median local household income ($34k/yr) (locally 1364% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.88% ✓
• Cap rate: 25.74%
• Cash-on-cash: 69.44%
• DSCR: 4.09
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $140,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2170 Montclair St	0.10mi	3/2.0	1,571 (+10%)	10mo	$162,900	$104	69
1534 Saint Clair St	0.19mi	3/1.0	1,344 (-6%)	20mo	$38,000	$28	62
2918 Garland St	0.45mi	4/3.0 (+1)	1,546 (+8%)	1mo	$205,000	$133	54
1451 Bewick St	0.38mi	3/1.0	1,334 (-7%)	21mo	$10,000	$7	52
2931 Garland St	0.48mi	4/3.0 (+1)	1,558 (+9%)	1mo	$215,000	$138	51
2595 Bewick St	0.46mi	3/1.0	1,500 (+5%)	22mo	$9,000	$6	51
781 Lillibridge St	0.33mi	3/2.0	1,567 (+9%)	20mo	$235,000	$150	50
9385 Dorchester St	0.64mi	3/2.0	1,311 (-8%)	6mo	$18,000	$14	49
3466 Bewick St	0.70mi	3/2.0	1,308 (-9%)	6mo	$119,900	$92	46
3054 Cadillac Blvd	0.67mi	3/1.0	1,554 (+8%)	11mo	$159,000	$102	43
3459 Saint Clair St	0.66mi	3/2.0	1,250 (-13%)	7mo	$119,900	$96	40
2247 Belvidere St	0.74mi	3/1.5	1,625 (+14%)	21mo	$160,000	$98	26

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: 68.9%
• Equity multiple: 4.11×
• Total profit: $43,418
• Equity at exit: $7,440

10-year hold

• IRR: 73.0%
• Equity multiple: 8.45×
• Total profit: $104,156
• Equity at exit: $4,314

Cash invested: $13,972 (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 48214

• Active inventory: 298
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$262
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $808

Break-even live

Break-even rent $414

Max offer price $49,900

Occupancy floor 39%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	0.31mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	23d	1	0.52mi
450 Marquette Dr Detroit, MI	2.0	1.0	972	$1,200	$1.23	20d	1	0.60mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	0.64mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	43d	1	0.73mi
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	43d	1	0.73mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	0.74mi
8925 E Jefferson Ave Detroit, MI	1.0–2.0	1.0–2.0	1050	$1,945	$1.85	43d	9	0.86mi
8845 E Jefferson Ave Unit 205 Detroit, MI	2.0	1.5	960	$1,425	$1.48	43d	1	0.90mi
8845 E Jefferson Ave Unit 203 Detroit, MI	2.0	1.5	1024	$1,515	$1.48	43d	1	0.90mi
8845 E Jefferson Ave Unit 302 Detroit, MI	2.0	2.0	885	$1,460	$1.65	43d	1	0.90mi
8845 E Jefferson Ave Unit 206 Detroit, MI	2.0	1.5	1230	$1,660	$1.35	43d	1	0.90mi
8845 E Jefferson Ave Unit 204 Detroit, MI	2.0	1.5	1150	$2,350	$2.04	43d	1	0.90mi
8845 E Jefferson Ave Unit 207 Detroit, MI	2.0	1.5	1500	$1,695	$1.13	43d	1	0.90mi
8845 E Jefferson Apt 208 Detroit, MI	2.0	1.5	992	$1,635	$1.65	43d	1	0.90mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	0.96mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	43d	1	0.96mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	1.07mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.08mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	43d	1	1.11mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.20mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	1d	3	1.34mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	19d	20	1.40mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	1.41mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	1.44mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	17d	1	1.46mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	1.48mi

Listing history 7 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-01-27
   status Pending 189-char remark

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

5. 2022-01-27
   status Pending

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

6. 2021-11-23
   listed $49,900 Active

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

7. 2021-11-23
   listed $49,900 Active 189-char remark

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $650 · $54/mo
• Expected delta: +$119/yr (+$10/mo · 22.3%)

ⓘ 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 · 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: $17,244
• − Mortgage interest: −$2,795
• − Property taxes: −$531
• − Insurance: −$250
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$1,452
• Taxable income: $9,457
• Est. tax owed @ 24.0%: −$2,270
• After-tax cash flow: $7,432/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

+0.0% since first listed

7 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-01-27 Pending — MiRealSource-MiMLS
• 2022-01-27 Pending — REALCOMP
• 2021-11-23 Listed $49,900 MiRealSource-MiMLS
• 2021-11-23 Listed $49,900 REALCOMP

Property tax history

-2.0%/yr

Latest (2025): $531 · -52.7% YoY. Source: county tax records.