2532 Longfellow St · Detroit, MI 48206

$190,000

5 bd · 2.0 ba · 1,830 sqft · SingleFamily public records · 56 Days on market

Built 1922 6,098 sqft lot $104/sqft · 30% below area Est $273k · 30% under ↓ 10% 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +7.5/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTMENT OPPORTUNITY!! Beautiful brick colonial including five bedrooms, two full bathrooms and a half bath in the basement. Spacious yard with detached garage. Located in the coveted Boston Edison Historic District, just a short drive to downtown Detroit. Long term tenant paying all utilities. PROPERTY BEING SOLD TENANTED. DO NOT DISTURB THE TENANTS. BATVAI. Feel free to reach out to the agent for additional information.

Key facts

• Spacious yard
• Brick colonial
• Detached garage

Tags

• BRICK COLONIAL
• SPACIOUS YARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Water available; Sewer available
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.14 acres (45 x 134)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Total of 8 rooms

🏷️ Possibly a rental listed for sale. The $190,000 price doesn't fit this home's estimated sale value (~$273,175) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% 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 fast (+5.2%/yr); 271 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,371/mo this rent would consume 63% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 22y 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.
• Current owner paid $875; list at $190k implies a 21614% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1922 — 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: 1.25% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 6.7

CMA / ARV

• ARV (median comp): $273,175
• List price: $190,000
• Delta: -30.45%
• 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
2437 Longfellow St	0.09mi	4/1.5 (-1)	1,841 (+1%)	2mo	$135,000	$73	86
2016 Atkinson St	0.38mi	5/2.5	2,001 (+9%)	3mo	$130,000	$65	62
2008 Longfellow St	0.37mi	6/2.0 (+1)	1,976 (+8%)	10mo	$116,000	$59	56
2660 Webb St	0.56mi	4/1.5 (-1)	1,956 (+7%)	2mo	$61,000	$31	54
3284 Clairmount St	0.50mi	4/2.0 (-1)	1,714 (-6%)	9mo	$15,000	$9	54
2281 Atkinson St	0.26mi	4/1.5 (-1)	2,103 (+15%)	4mo	$325,000	$155	53
2064 Glynn Ct	0.39mi	4/1.5 (-1)	1,624 (-11%)	4mo	$118,556	$73	53
2050 Atkinson St	0.35mi	4/1.5 (-1)	1,624 (-11%)	8mo	$75,000	$46	52
2011 Atkinson St	0.40mi	4/2.0 (-1)	2,084 (+14%)	3mo	$245,000	$118	51
3275 Collingwood St	0.54mi	4/1.5 (-1)	1,600 (-13%)	2mo	$64,000	$40	45
3774 Gladstone St	0.73mi	4/1.5 (-1)	1,957 (+7%)	10mo	$125,000	$64	39
2688 W Philadelphia St W	0.61mi	4/1.5 (-1)	1,564 (-14%)	3mo	$52,000	$33	38

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $351
• Equity at exit: $28,330

10-year hold

• IRR: 12.2%
• Equity multiple: 2.07×
• Total profit: $56,890
• Equity at exit: $16,428

Cash invested: $53,200 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,371 high
• Mortgage (P&I): −$996
• Tax from tax record: −$395 /mo · $4,743/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $403

Break-even live

Break-even rent $1,862

Max offer price $190,000

Occupancy floor 78%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	0.31mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	1d	1	0.31mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.31mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	0.35mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	1d	1	0.50mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	0.50mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.53mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	0.60mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	0.89mi
4114 W Euclid St Detroit, MI	6.0	2.0	1500	$1,800	$1.20	43d	1	1.01mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	4d	1	1.43mi

Listing history 48 events

1. 2026-06-18
   days on market $190,000 Active 56 DOM
2. 2026-06-17
   days on market $190,000 Active 55 DOM
3. 2026-06-15
   days on market $190,000 Active 53 DOM
4. 2026-06-13
   days on market $190,000 Active 51 DOM
5. 2026-06-13
   days on market $190,000 Active 50 DOM
6. 2026-06-09
   days on market $190,000 Active 47 DOM
7. 2026-06-08
   days on market $190,000 Active 46 DOM
8. 2026-06-07
   days on market $190,000 Active 45 DOM
9. 2026-06-04
   days on market $190,000 Active 42 DOM
10. 2026-06-03
    days on market $190,000 Active 41 DOM
11. 2026-06-02
    days on market $190,000 Active 40 DOM
12. 2026-06-01
    days on market $190,000 Active 39 DOM
13. 2026-05-31
    days on market $190,000 Active 38 DOM
14. 2026-04-23
    listed $190,000 Active 427-char remark

    Show marketing remark (427 chars)

    INVESTMENT OPPORTUNITY!! Beautiful brick colonial including five bedrooms, two full bathrooms and a half bath in the basement. Spacious yard with detached garage. Located in the coveted Boston Edison Historic District, just a short drive to downtown Detroit. Long term tenant paying all utilities. PROPERTY BEING SOLD TENANTED. DO NOT DISTURB THE TENANTS. BATVAI. Feel free to reach out to the agent for additional information.

15. 2026-04-23
    listed $190,000 Active 427-char remark

    Show marketing remark (427 chars)

    INVESTMENT OPPORTUNITY!! Beautiful brick colonial including five bedrooms, two full bathrooms and a half bath in the basement. Spacious yard with detached garage. Located in the coveted Boston Edison Historic District, just a short drive to downtown Detroit. Long term tenant paying all utilities. PROPERTY BEING SOLD TENANTED. DO NOT DISTURB THE TENANTS. BATVAI. Feel free to reach out to the agent for additional information.

16. 2026-02-05
    historical
17. 2025-04-17
    status Active
18. 2025-04-17
    historical
19. 2025-04-04
    listed $200,000 Active
20. 2025-04-04
    listed $200,000 Active
21. 2014-11-10
    soldstatus $875
22. 2014-11-05
    historical
23. 2014-06-09
    listed $950
24. 2014-04-01
    historical
25. 2014-02-14
    listed $1,100
26. 2014-01-16
    historical
27. 2014-01-10
    historical
28. 2014-01-10
    historical
29. 2014-01-06
    listed $1,200
30. 2013-12-26
    listed $1,200
31. 2013-12-26
    listed $1,200
32. 2013-10-18
    soldstatus $32,000
33. 2013-10-18
    soldstatus $32,000
34. 2013-09-11
    historical
35. 2013-07-24
    listed $38,000
36. 2013-07-24
    listed $38,000
37. 2013-07-22
    historical
38. 2013-07-22
    historical
39. 2011-11-28
    listed $38,000
40. 2011-11-28
    listed $38,000
41. 2007-08-31
    soldstatus $76,000
42. 2007-02-22
    listed $79,900
43. 2006-11-02
    historical
44. 2006-05-04
    listed $169,999
45. 2005-09-15
    historical
46. 2005-06-01
    listed $199,900
47. 2005-02-18
    historical
48. 2004-12-16
    listed $210,000

ⓘ 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: $4,743 · $395/mo
• Projected year-2 tax: $4,743 · $395/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $28,456
• − Mortgage interest: −$10,643
• − Property taxes: −$4,743
• − Insurance: −$950
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$5,527
• Taxable income: $2,040
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $4,342/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): 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

-9.5% since first listed

35 events — show timeline

• 2026-04-23 Listed $190,000 REALCOMP
• 2026-04-23 Listed $190,000 MiRealSource-MiMLS
• 2026-02-05 Listing Removed — MiRealSource-MiMLS
• 2025-04-17 Relisted — REALCOMP
• 2025-04-17 Listing Removed — REALCOMP
• 2025-04-04 Listed $200,000 REALCOMP
• 2025-04-04 Listed $200,000 MiRealSource-MiMLS
• 2014-11-10 Sold (MLS) $875 MiRealSource-MiMLS
• 2014-11-05 Listing Removed — MiRealSource-MiMLS
• 2014-06-09 Listed $950 MiRealSource-MiMLS
• 2014-04-01 Listing Removed — MiRealSource-MiMLS
• 2014-02-14 Listed $1,100 MiRealSource-MiMLS
• 2014-01-16 Listing Removed — MiRealSource-MiMLS
• 2014-01-10 Listing Removed — MiRealSource-MiMLS
• 2014-01-10 Listing Removed — REALCOMP
• 2014-01-06 Listed $1,200 MiRealSource-MiMLS
• 2013-12-26 Listed $1,200 MiRealSource-MiMLS
• 2013-12-26 Listed $1,200 REALCOMP
• 2013-10-18 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2013-10-18 Sold (MLS) $32,000 REALCOMP
• 2013-09-11 Listing Removed — MiRealSource-MiMLS
• 2013-07-24 Listed $38,000 MiRealSource-MiMLS
• 2013-07-24 Listed $38,000 REALCOMP
• 2013-07-22 Listing Removed — MiRealSource-MiMLS
• 2013-07-22 Listing Removed — REALCOMP
• 2011-11-28 Listed $38,000 MiRealSource-MiMLS
• 2011-11-28 Listed $38,000 REALCOMP
• 2007-08-31 Sold (MLS) $76,000 REALCOMP
• 2007-02-22 Listed $79,900 REALCOMP
• 2006-11-02 Listing Removed — REALCOMP
• 2006-05-04 Listed $169,999 REALCOMP
• 2005-09-15 Listing Removed — REALCOMP
• 2005-06-01 Listed $199,900 REALCOMP
• 2005-02-18 Listing Removed — REALCOMP
• 2004-12-16 Listed $210,000 REALCOMP

Property tax history

+7.3%/yr

Latest (2025): $4,743 · -4.5% YoY. Source: county tax records.