16931 Prairie St · Detroit, MI 48221

$229,100

5 bd · 1.5 ba · 1,959 sqft · Townhouse public records · 55 Days on market

Built 1930 4,342 sqft lot $117/sqft · 21% above area Est $262k · 12% under

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Why this score? — see what drove the D 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).

• ARV discount +13.1/15.0
• Cash flow +10.6/30.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +3.4/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience a blend of contemporary style and investment potential in this beautifully remodeled 2,200-square-foot home. Strategically located near the University of Detroit Mercy, this expansive move-in-ready property has been transformed with a modern kitchen featuring new cabinetry and countertops, sleek flooring, and upgraded fixtures throughout. Designed for maximum versatility, the 2,200-square-foot layout is divided into two independent units, offering a bright and efficient living space on every level. Each floor boasts its own separate HVAC system, water heater, and individual gas/electric meters - ideal for an owner-occupant looking to "house hack" or an investor seeking a low-maintenance, high-quality asset. With all-new mechanicals and significant living space in a prime location, this property is a rare find. Schedule your showing today and secure a turnkey opportunity in a high-demand neighborhood!

Key facts

• Fully remodeled
• Fresh paint
• New flooring

Tags

• FULLY REMODELED
• MODERN UPDATED KITCHEN
• REFRESHED BATHROOM
• NEW FLOORING
• FRESH PAINT
• UPGRADED FIXTURES

Property features AI

Finance

• Other: Pets not allowed

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story; Ground-level entry with steps
• Construction: Brick construction; Brick/mortar foundation; Built area: approximately 2,200 above grade and 500 below grade
• Exterior features: Paved road access; Lot dimensions approximately 38 x 114.26

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 10 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath townhouse listed at $229k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (14.9% below list).
• Recommended offer: $195k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+3.4%/yr); 349 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago; this cycle's ask is 12628% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $51k; list at $229k implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,874 (14.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.08%
• DSCR: 0.91
• GRM: 9.8

CMA / ARV

• ARV (median comp): $261,623
• List price: $229,100
• Delta: -12.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.33×
• Total profit: $-43,263
• Equity at exit: $34,160

10-year hold

• IRR: -10.8%
• Equity multiple: 0.33×
• Total profit: $-42,908
• Equity at exit: $19,808

Cash invested: $64,148 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$354 /mo · $4,245/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-111

Break-even live

Break-even rent $2,089

Max offer price $209,474

Occupancy floor —

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: $57,275
• Closing costs: $6,873
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	17d	1	0.83mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	24d	1	0.86mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	3d	1	0.91mi

Listing history 32 events

1. 2026-06-18
   days on market $229,100 Active 55 DOM
2. 2026-06-17
   days on market $229,100 Active 54 DOM
3. 2026-06-15
   days on market $229,100 Active 52 DOM
4. 2026-06-13
   days on market $229,100 Active 50 DOM
5. 2026-06-13
   days on market $229,100 Active 49 DOM
6. 2026-06-09
   days on market $229,100 Active 46 DOM
7. 2026-06-08
   days on market $229,100 Active 45 DOM
8. 2026-06-07
   days on market $229,100 Active 44 DOM
9. 2026-06-04
   days on market $229,100 Active 41 DOM
10. 2026-06-03
    days on market $229,100 Active 40 DOM
11. 2026-06-02
    days on market $229,100 Active 39 DOM
12. 2026-06-01
    days on market $229,100 Active 38 DOM
13. 2026-05-31
    days on market $229,100 Active 37 DOM
14. 2026-05-14
    historical $1,250
15. 2026-05-13
    price $229,100 934-char remark

    Show marketing remark (934 chars)

    Experience a blend of contemporary style and investment potential in this beautifully remodeled 2,200-square-foot home. Strategically located near the University of Detroit Mercy, this expansive move-in-ready property has been transformed with a modern kitchen featuring new cabinetry and countertops, sleek flooring, and upgraded fixtures throughout. Designed for maximum versatility, the 2,200-square-foot layout is divided into two independent units, offering a bright and efficient living space on every level. Each floor boasts its own separate HVAC system, water heater, and individual gas/electric meters - ideal for an owner-occupant looking to "house hack" or an investor seeking a low-maintenance, high-quality asset. With all-new mechanicals and significant living space in a prime location, this property is a rare find. Schedule your showing today and secure a turnkey opportunity in a high-demand neighborhood!

16. 2026-05-13
    price $229,100 938-char remark

    Show marketing remark (934 chars)

    Experience a blend of contemporary style and investment potential in this beautifully remodeled 2,200-square-foot home. Strategically located near the University of Detroit Mercy, this expansive move-in-ready property has been transformed with a modern kitchen featuring new cabinetry and countertops, sleek flooring, and upgraded fixtures throughout. Designed for maximum versatility, the 2,200-square-foot layout is divided into two independent units, offering a bright and efficient living space on every level. Each floor boasts its own separate HVAC system, water heater, and individual gas/electric meters - ideal for an owner-occupant looking to "house hack" or an investor seeking a low-maintenance, high-quality asset. With all-new mechanicals and significant living space in a prime location, this property is a rare find. Schedule your showing today and secure a turnkey opportunity in a high-demand neighborhood!

17. 2026-05-02
    price $1,250
18. 2026-04-30
    price $1,500
19. 2026-04-29
    listed $1,800
20. 2026-04-24
    listed $229,000 Active 934-char remark

    Show marketing remark (934 chars)

    Experience a blend of contemporary style and investment potential in this beautifully remodeled 2,200-square-foot home. Strategically located near the University of Detroit Mercy, this expansive move-in-ready property has been transformed with a modern kitchen featuring new cabinetry and countertops, sleek flooring, and upgraded fixtures throughout. Designed for maximum versatility, the 2,200-square-foot layout is divided into two independent units, offering a bright and efficient living space on every level. Each floor boasts its own separate HVAC system, water heater, and individual gas/electric meters - ideal for an owner-occupant looking to "house hack" or an investor seeking a low-maintenance, high-quality asset. With all-new mechanicals and significant living space in a prime location, this property is a rare find. Schedule your showing today and secure a turnkey opportunity in a high-demand neighborhood!

21. 2026-04-24
    listed $229,000 Active 938-char remark

    Show marketing remark (934 chars)

    Experience a blend of contemporary style and investment potential in this beautifully remodeled 2,200-square-foot home. Strategically located near the University of Detroit Mercy, this expansive move-in-ready property has been transformed with a modern kitchen featuring new cabinetry and countertops, sleek flooring, and upgraded fixtures throughout. Designed for maximum versatility, the 2,200-square-foot layout is divided into two independent units, offering a bright and efficient living space on every level. Each floor boasts its own separate HVAC system, water heater, and individual gas/electric meters - ideal for an owner-occupant looking to "house hack" or an investor seeking a low-maintenance, high-quality asset. With all-new mechanicals and significant living space in a prime location, this property is a rare find. Schedule your showing today and secure a turnkey opportunity in a high-demand neighborhood!

22. 2024-03-14
    soldstatus $51,000
23. 2024-02-26
    soldstatus $51,000

    Show marketing remark (41 chars)

    Property Perfect for investment! Call now

24. 2024-02-26
    soldstatus $51,000 Sold

    Show marketing remark (41 chars)

    Property Perfect for investment! Call now

25. 2024-02-04
    listed $51,000

    Show marketing remark (41 chars)

    Property Perfect for investment! Call now

26. 2024-02-04
    listed $51,000 Active

    Show marketing remark (41 chars)

    Property Perfect for investment! Call now

27. 2015-12-21
    soldstatus $32,900 Sold
28. 2015-08-05
    soldstatus $32,900
29. 2015-07-17
    historical
30. 2015-07-16
    historical
31. 2015-04-26
    listed $32,900 Active
32. 2015-04-10
    listed $32,900

ⓘ 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: $4,245 · $354/mo
• Projected year-2 tax: $4,245 · $354/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: $23,385
• − Mortgage interest: −$12,833
• − Property taxes: −$4,245
• − Insurance: −$1,146
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$6,665
• Taxable loss: −$5,245
• Est. tax savings @ 24.0%: +$1,259
• After-tax cash flow: $-74/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

-96.2% since first listed

19 events — show timeline

• 2026-05-14 Rental Removed $1,250 REALSOURCE
• 2026-05-13 Price Changed $229,100 MiRealSource-MiMLS
• 2026-05-13 Price Changed $229,100 REALCOMP
• 2026-05-02 Price Changed $1,250 REALSOURCE
• 2026-04-30 Price Changed $1,500 REALSOURCE
• 2026-04-29 Listed for Rent $1,800 REALSOURCE
• 2026-04-24 Listed $229,000 REALCOMP
• 2026-04-24 Listed $229,000 MiRealSource-MiMLS
• 2024-03-14 Sold (Public Records) $51,000 Public Records
• 2024-02-26 Sold (MLS) $51,000 SW Michigan MLS
• 2024-02-26 Sold (MLS) $51,000 REALCOMP
• 2024-02-04 Listed $51,000 SW Michigan MLS
• 2024-02-04 Listed $51,000 REALCOMP
• 2015-12-21 Sold (MLS) $32,900 REALCOMP
• 2015-08-05 Sold (MLS) $32,900 MiRealSource-MiMLS
• 2015-07-17 Listing Removed — REALCOMP
• 2015-07-16 Listing Removed — MiRealSource-MiMLS
• 2015-04-26 Listed $32,900 REALCOMP
• 2015-04-10 Listed $32,900 MiRealSource-MiMLS

Property tax history

+12.8%/yr

Latest (2025): $4,245 · +60.8% YoY. Source: county tax records.