3644 Lincoln St · Detroit, MI 48208 2926

$175,000

5 bd · 2.0 ba · 2,352 sqft · SingleFamily public records · 1 Days on market

Built 1900 0.28 ac lot Est $129k · 35% over

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Why this score? — see what drove the C+ 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
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Woodbridge Historic District Development Opportunity Magnificent opportunity for a full-scale, blank-canvas renovation on a circa 1800's brick Victorian mini-mansion with construction-ready updated electrical service. Located within walking distance of Downtown Detroit and close to Midtown, Brush Park, and North Corktown, this double-lot property comes with enormous development potential. Ideal for a visionary, this authentic Gilded Age gem has been taken down to its studs and brick (though it requires fire damage remediation in one area). Secured against the elements and ringed by fencing, it's adjacent to a leafy urban oasis lot and abuts an area with thoughtfully redeveloped residential homes. Public viewings on Tuesday, June 23rd, from 4pm-6pm. Closed-toe shoes required.

Key facts

• Double-lot sale
• Historic district
• 0.28 acre lot

Tags

• HISTORIC DISTRICT
• DEVELOPMENT OPPORTUNITY
• BRICK VICTORIAN MINI-MANSION
• UPDATED ELECTRICAL SERVICE
• DOUBLE-LOT SALE
• ENORMOUS DEVELOPMENT POTENTIAL

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water at street; Public sewer at street
• Home design: Residential 2-story home; Built in 1900; Frontage approximately 100 feet; Lot about 0.28 acres
• Construction: Michigan basement foundation
• Exterior features: Brick exterior; Paved street access

Interior

• Bedrooms: Four bedrooms located on the second floor (each about 10 x 10)
• Bathrooms: Three full bathrooms (all located on the second floor); Each bathroom approx. 5 x 5
• Heating & cooling: Heating: Other (see remarks); Cooling: Other
• Interior features: Total of 8 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).

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: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• 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 $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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 $70k; list at $175k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.71% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.01%
• DSCR: 1.94
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $129,360
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1570 Butternut St	0.36mi	5/2.0	2,143 (-9%)	5mo	$77,000	$36	64
3937 Avery St	0.28mi	5/2.5	2,132 (-9%)	10mo	$342,000	$160	61
4314 Trumbull St	0.33mi	4/3.0 (-1)	2,033 (-14%)	2mo	$275,000	$135	51
1621 Lysander St	0.44mi	5/1.0	2,643 (+12%)	10mo	$145,000	$55	47
3917 16th St	0.68mi	4/2.0 (-1)	2,037 (-13%)	3mo	$35,000	$17	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 2.55×
• Total profit: $75,966
• Equity at exit: $78,688

10-year hold

• IRR: 28.0%
• Equity multiple: 4.96×
• Total profit: $194,181
• Equity at exit: $121,267

Cash invested: $49,000 (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 48208 2926

• Active inventory: 1
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$521 /mo · $6,255/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $858

Break-even live

Break-even rent $1,914

Max offer price $175,000

Occupancy floor 66%

Sensitivity live

Price	-10% $957	-5% $908	+0% $858	+5% $809	+10% $759
Rent	-10% $621	-5% $740	+0% $858	+5% $977	+10% $1,095
Rate	-1.0pp $946	-0.5pp $903	base $858	+0.5pp $813	+1.0pp $767

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3934 Avery St Detroit, MI	5.0	2.0	2500	$3,000	$1.20	44d	1	0.26mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $175,000 Coming Soon 1 DOM

ⓘ 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: $6,255 · $521/mo
• Projected year-2 tax: $6,255 · $521/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $36,000
• − Mortgage interest: −$9,803
• − Property taxes: −$6,255
• − Insurance: −$875
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$5,091
• Taxable income: $8,216
• Est. tax owed @ 24.0%: −$1,972
• After-tax cash flow: $8,325/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+45.8% since first listed

13 events — show timeline

• 2026-06-19 Listed $175,000 MiRealSource-MiMLS
• 2026-06-19 Listed $175,000 REALCOMP
• 2026-06-18 Coming Soon $175,000 MiRealSource-MiMLS
• 2021-11-30 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2021-11-30 Sold (MLS) $70,000 REALCOMP
• 2021-10-07 Pending — MiRealSource-MiMLS
• 2021-10-07 Pending — REALCOMP
• 2021-09-01 Listed $110,000 MiRealSource-MiMLS
• 2021-09-01 Listed $110,000 REALCOMP
• 2019-12-16 Listing Removed — MiRealSource-MiMLS
• 2019-12-16 Listing Removed — REALCOMP
• 2019-06-15 Listed $120,000 MiRealSource-MiMLS
• 2019-06-15 Listed $120,000 REALCOMP

Property tax history

+19.9%/yr

Latest (2025): $6,255 · +6.1% YoY. Source: county tax records.