3240 Glynn Ct · Detroit, MI 48206

$12,500

3 bd · 1.0 ba · 2,024 sqft · SingleFamily public records · 1365 Days on market

Built 1922 3,485 sqft lot $6/sqft · 87% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

3 Home Bundle Sale in the Dexter-Linwood Neighborhood. 3226, 3240 and 3289 Glynn Ct included in this sale for the total price of $15,000 for all three homes. Excellent income property opportunity. Newer roof and many immediate upgrades to surrounding area. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. No Land Contracts. Buyer to have the property inspected as their is no property inspection report on file. The sale of said property is open to homeowners, investors and developers. All proposals must answer all of the questions in the attached document title DLBA proposal requirements for bundled single family homes. Seller Addendum's to be provided upon acceptance of qualifying offer. This sale is contingent upon Buyer & Seller execution of a Development Agreement. Buyer to verify all room sizes. Contact listing broker with additional questions. See Additional Attachments for Offer Requirements. BTVAI & Sizes.

Key facts

• 3,485 sq ft lot
• Garage
• Built 1922

Property features AI

Finance

• Other: Located between Dexter and Wildemere in the Glynn Court Gardens subdivision; Listing broker: Premier Property Services LLC

Exterior

• Parking: Detached garage with space for 1 vehicle
• Utilities: Sewer available; Water available
• Home design: Two-story single-family home; Ground-level entry with steps; Brick exterior
• Construction: Brick construction; Brick/mortar foundation; Built area above grade approximately 1,352 square feet
• Exterior features: Paved road access; Lot dimensions approximately 35 x 93 feet

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $12k).
• Recommended offer: $11k (12.0% below list) — sets the bar for market timing.
• Cap rate 124.2% 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 fast (+5.2%/yr); 271 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 44% of the median local income ($45k/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 $86 of loan paydown is wiped out by about $375 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1365 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $2k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $500; list at $12k implies a 2400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $11,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 1365 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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: 13.18% ✓
• Cap rate: 124.20%
• Cash-on-cash: 421.08%
• DSCR: 19.74
• GRM: 0.6

CMA / ARV

• ARV (median comp): $65,201
• List price: $12,500
• Delta: -80.83%
• 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
2910 Lawrence St	0.26mi	3/1.0	1,986 (-2%)	6mo	$111,500	$56	80
9400 Wildemere St	0.23mi	3/1.5	2,080 (+3%)	4mo	$42,000	$20	79
4033 Clairmount St	0.59mi	3/1.0	2,058 (+2%)	0mo	$150,000	$73	69
2677 Collingwood St	0.30mi	3/2.0	2,136 (+6%)	6mo	$199,900	$94	68
3240 Lawrence St	0.18mi	3/2.5	2,200 (+9%)	4mo	$306,000	$139	67
2660 Webb St	0.43mi	4/1.5 (+1)	1,956 (-3%)	2mo	$61,000	$31	66
11642 Cascade St	0.73mi	3/1.5	1,952 (-4%)	6mo	$83,000	$43	53
3761 Taylor St	0.59mi	3/2.0	2,145 (+6%)	7mo	$65,409	$30	53
2437 Longfellow St	0.56mi	4/1.5 (+1)	1,841 (-9%)	2mo	$135,000	$73	50
2281 Atkinson St	0.72mi	4/1.5 (+1)	2,103 (+4%)	4mo	$325,000	$155	50
3774 Gladstone St	0.66mi	4/1.5 (+1)	1,957 (-3%)	10mo	$125,000	$64	48
4069 Sturtevant St	0.75mi	3/3.5	1,921 (-5%)	2mo	$320,000	$167	45

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: —
• Equity multiple: 23.84×
• Total profit: $79,939
• Equity at exit: $1,864

10-year hold

• IRR: —
• Equity multiple: 54.25×
• Total profit: $186,392
• Equity at exit: $1,081

Cash invested: $3,500 (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: 0.6×

Monthly cashflow live

• Estimated rent: $1,647 high
• Mortgage (P&I): −$66
• Tax from tax record: −$2 /mo · $26/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $1,228

Break-even live

Break-even rent $92

Max offer price $12,500

Occupancy floor 20%

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	0.13mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	0.15mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	0.18mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.29mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.29mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	0.30mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	0.31mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	16d	1	0.55mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	43d	1	0.73mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	0.74mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.75mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	1d	1	0.75mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	1d	1	0.80mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	24d	1	0.82mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	0.84mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	0.88mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	0.91mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	1d	1	0.95mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	23d	1	0.97mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	0.99mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	1.00mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	1.00mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	43d	1	1.01mi
4046 Tyler St Detroit, MI	2.0	1.0	2378	$1,050	$0.44	12d	1	1.03mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	24d	1	1.16mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	43d	1	1.17mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,523	$1.07	5d	1	1.29mi
3012 Lothrop Detroit, MI	2.0	1.0	1800	$1,300	$0.72	2d	1	1.37mi
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	16d	1	1.40mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	43d	1	1.50mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.50mi

Listing history 26 events

1. 2026-06-18
   days on market $12,500 Active 1365 DOM
2. 2026-06-17
   days on market $12,500 Active 1364 DOM
3. 2026-06-15
   days on market $12,500 Active 1362 DOM
4. 2026-06-13
   days on market $12,500 Active 1360 DOM
5. 2026-06-13
   days on market $12,500 Active 1359 DOM
6. 2026-06-09
   days on market $12,500 Active 1356 DOM
7. 2026-06-08
   days on market $12,500 Active 1355 DOM
8. 2026-06-07
   days on market $12,500 Active 1354 DOM
9. 2026-06-04
   days on market $12,500 Active 1351 DOM
10. 2026-06-03
    days on market $12,500 Active 1350 DOM
11. 2026-06-01
    days on market $12,500 Active 1348 DOM
12. 2026-05-31
    days on market $12,500 Active 1347 DOM
13. 2024-09-09
    price $12,500 999-char remark

    Show marketing remark (999 chars)

    3 Home Bundle Sale in the Dexter-Linwood Neighborhood. 3226, 3240 and 3289 Glynn Ct included in this sale for the total price of $15,000 for all three homes. Excellent income property opportunity. Newer roof and many immediate upgrades to surrounding area. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. No Land Contracts. Buyer to have the property inspected as their is no property inspection report on file. The sale of said property is open to homeowners, investors and developers. All proposals must answer all of the questions in the attached document title DLBA proposal requirements for bundled single family homes. Seller Addendum's to be provided upon acceptance of qualifying offer. This sale is contingent upon Buyer & Seller execution of a Development Agreement. Buyer to verify all room sizes. Contact listing broker with additional questions. See Additional Attachments for Offer Requirements. BTVAI & Sizes.

14. 2024-09-09
    price $12,500

    Show marketing remark (999 chars)

    3 Home Bundle Sale in the Dexter-Linwood Neighborhood. 3226, 3240 and 3289 Glynn Ct included in this sale for the total price of $15,000 for all three homes. Excellent income property opportunity. Newer roof and many immediate upgrades to surrounding area. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. No Land Contracts. Buyer to have the property inspected as their is no property inspection report on file. The sale of said property is open to homeowners, investors and developers. All proposals must answer all of the questions in the attached document title DLBA proposal requirements for bundled single family homes. Seller Addendum's to be provided upon acceptance of qualifying offer. This sale is contingent upon Buyer & Seller execution of a Development Agreement. Buyer to verify all room sizes. Contact listing broker with additional questions. See Additional Attachments for Offer Requirements. BTVAI & Sizes.

15. 2022-09-22
    listed $15,000 Active

    Show marketing remark (999 chars)

    3 Home Bundle Sale in the Dexter-Linwood Neighborhood. 3226, 3240 and 3289 Glynn Ct included in this sale for the total price of $15,000 for all three homes. Excellent income property opportunity. Newer roof and many immediate upgrades to surrounding area. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. No Land Contracts. Buyer to have the property inspected as their is no property inspection report on file. The sale of said property is open to homeowners, investors and developers. All proposals must answer all of the questions in the attached document title DLBA proposal requirements for bundled single family homes. Seller Addendum's to be provided upon acceptance of qualifying offer. This sale is contingent upon Buyer & Seller execution of a Development Agreement. Buyer to verify all room sizes. Contact listing broker with additional questions. See Additional Attachments for Offer Requirements. BTVAI & Sizes.

16. 2022-09-22
    listed $15,000 Active 999-char remark

    Show marketing remark (999 chars)

    3 Home Bundle Sale in the Dexter-Linwood Neighborhood. 3226, 3240 and 3289 Glynn Ct included in this sale for the total price of $15,000 for all three homes. Excellent income property opportunity. Newer roof and many immediate upgrades to surrounding area. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. No Land Contracts. Buyer to have the property inspected as their is no property inspection report on file. The sale of said property is open to homeowners, investors and developers. All proposals must answer all of the questions in the attached document title DLBA proposal requirements for bundled single family homes. Seller Addendum's to be provided upon acceptance of qualifying offer. This sale is contingent upon Buyer & Seller execution of a Development Agreement. Buyer to verify all room sizes. Contact listing broker with additional questions. See Additional Attachments for Offer Requirements. BTVAI & Sizes.

17. 2016-09-07
    historical
18. 2016-09-07
    historical
19. 2016-04-16
    listed $2,900 Active
20. 2016-04-08
    status Active
21. 2016-04-04
    historical
22. 2016-02-09
    listed $2,900 Active
23. 2008-11-12
    soldstatus $500
24. 2008-11-01
    historical
25. 2008-07-02
    listed $9,900
26. 2008-07-02
    listed $9,900

ⓘ 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: $26 · $2/mo
• Projected year-2 tax: $109 · $9/mo
• Expected delta: +$83/yr (+$7/mo · 316.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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: $19,764
• − Mortgage interest: −$700
• − Property taxes: −$26
• − Insurance: −$62
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$364
• Taxable income: $15,449
• Est. tax owed @ 24.0%: −$3,708
• After-tax cash flow: $11,030/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

+26.3% since first listed

14 events — show timeline

• 2024-09-09 Price Changed $12,500 MiRealSource-MiMLS
• 2024-09-09 Price Changed $12,500 REALCOMP
• 2022-09-22 Listed $15,000 MiRealSource-MiMLS
• 2022-09-22 Listed $15,000 REALCOMP
• 2016-09-07 Listing Removed — REALCOMP
• 2016-09-07 Listing Removed — MiRealSource-MiMLS
• 2016-04-16 Listed $2,900 MiRealSource-MiMLS
• 2016-04-08 Relisted — REALCOMP
• 2016-04-04 Listing Removed — REALCOMP
• 2016-02-09 Listed $2,900 REALCOMP
• 2008-11-12 Sold (MLS) $500 REALCOMP
• 2008-11-01 Listing Removed — REALCOMP
• 2008-07-02 Listed $9,900 REALCOMP
• 2008-07-02 Listed $9,900 REALCOMP

Property tax history

-72.6%/yr

Latest (2017): $26 · -97.8% YoY. Source: county tax records.