2951 W Philadelphia St · Detroit, MI 48206

$55,000

4 bd · 1.0 ba · 1,336 sqft · SingleFamily public records · 99 Days on market

Built 1919 3,049 sqft lot $41/sqft · 17% above area Est $47k · 17% 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
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Investment or Starter Home Near LaSalle Gardens & Virginia Park Don't miss this once in a lifetime opportunity to own one of the last affordable homes in this rapidly developing area! Just minutes from the $2.2 billion Henry Ford redevelopment project, this neighborhood is poised for major growth - a true hidden gem with incredible potential. This spacious 4 bedroom Colonial offers a classic layout and a blank canvas ready for your vision. Whether you're a first time home buyer looking to create your dream home or an investor seeking a promising project, this property delivers endless possibilities. Easy to show - all reasonable offers will be considered.

Key facts

• Blank canvas
• Classic layout
• 3,049 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• RAPIDLY DEVELOPING AREA
• CLASSIC LAYOUT
• BLANK CANVAS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 23.0% 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; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $495k (90%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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: 2.73% ✓
• Cap rate: 23.05%
• Cash-on-cash: 59.83%
• DSCR: 3.66
• GRM: 3.1

CMA / ARV

• ARV (median comp): $47,163
• List price: $55,000
• Delta: 16.62%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3007 W Philadelphia St	0.05mi	4/1.5	1,334 (-0%)	5mo	$106,000	$79	91
2921 W Euclid St	0.06mi	3/2.0 (-1)	1,339 (+0%)	2mo	$20,000	$15	86
3011 Virginia Park St	0.12mi	3/1.5 (-1)	1,360 (+2%)	2mo	$35,000	$26	83
3299 Montgomery St	0.30mi	4/1.5	1,308 (-2%)	5mo	$79,000	$60	76
2647 W Philadelphia St	0.17mi	4/1.0	1,440 (+8%)	10mo	$45,000	$31	71
3286 Columbus St	0.32mi	3/1.0 (-1)	1,272 (-5%)	6mo	$13,600	$11	67
3283 Northwestern St	0.48mi	3/1.0 (-1)	1,259 (-6%)	7mo	$55,000	$44	57
3232 Montgomery Ave	0.24mi	3/2.5 (-1)	1,494 (+12%)	2mo	$166,000	$111	56
3781 Taylor St	0.49mi	4/1.0	1,505 (+13%)	3mo	$39,500	$26	54
3005 Lothrop St	0.51mi	3/1.0 (-1)	1,200 (-10%)	2mo	$48,900	$41	52
4497 Vancouver St	0.73mi	3/1.5 (-1)	1,412 (+6%)	1mo	$150,000	$106	48
3239 Lothrop St	0.52mi	3/1.5 (-1)	1,483 (+11%)	9mo	$60,000	$40	42

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: 61.1%
• Equity multiple: 3.82×
• Total profit: $43,435
• Equity at exit: $8,201

10-year hold

• IRR: 66.5%
• Equity multiple: 8.50×
• Total profit: $115,563
• Equity at exit: $4,755

Cash invested: $15,400 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$288
• Tax from tax record: −$107 /mo · $1,284/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $768

Break-even live

Break-even rent $530

Max offer price $55,000

Occupancy floor 44%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	16d	1	0.15mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	43d	1	0.28mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	2d	1	0.30mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	0.30mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	43d	1	0.30mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	0.31mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	16d	1	0.35mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	0.41mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	43d	1	0.49mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	24d	1	0.55mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	24d	1	0.56mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	24d	1	0.56mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,523	$1.07	5d	1	0.63mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	3d	1	0.63mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	16d	1	0.65mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	16d	1	0.81mi
6144 16th St Detroit, MI	3.0	1.0	1284	$1,200	$0.93	43d	1	0.84mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	0.91mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	43d	1	0.92mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	43d	1	0.93mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	43d	1	0.95mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	12d	1	0.95mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	24d	1	0.95mi
7640 Woodrow Wilson St Unit 1 Detroit, MI	3.0	1.5	1095	$1,400	$1.28	43d	1	0.96mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	1.04mi
6183 Hecla St Detroit, MI	3.0	1.0	1100	$1,700	$1.55	24d	1	1.09mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	1d	1	1.09mi
1226 Virginia Park St Unit 1226 Virginia Park, Upper V 1/10/26 (T) Detroit, MI	3.0	1.0	1100	$1,200	$1.09	43d	1	1.13mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.16mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.21mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.21mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	1.21mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	12d	1	1.25mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	24d	1	1.39mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	43d	1	1.39mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	43d	1	1.41mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	43d	1	1.41mi

Listing history 20 events

1. 2026-06-18
   days on market $55,000 Active 99 DOM
2. 2026-06-17
   days on market $55,000 Active 98 DOM
3. 2026-06-15
   days on market $55,000 Active 96 DOM
4. 2026-06-13
   days on market $55,000 Active 94 DOM
5. 2026-06-13
   days on market $55,000 Active 93 DOM
6. 2026-06-09
   days on market $55,000 Active 90 DOM
7. 2026-06-08
   days on market $55,000 Active 89 DOM
8. 2026-06-07
   days on market $55,000 Active 88 DOM
9. 2026-06-04
   days on market $55,000 Active 85 DOM
10. 2026-06-03
    days on market $55,000 Active 84 DOM
11. 2026-06-01
    days on market $55,000 Active 82 DOM
12. 2026-05-31
    days on market $55,000 Active 81 DOM
13. 2026-03-11
    price $55,000 675-char remark

    Show marketing remark (690 chars)

    Great Investment or Starter Home Near LaSalle Gardens & Virginia Park Don’t miss this once in a lifetime opportunity to own one of the last affordable homes in this rapidly developing area! Just minutes from the $2.2 billion Henry Ford redevelopment project, this neighborhood is poised for major growth - a true hidden gem with incredible potential. This spacious 4 bedroom Colonial offers a classic layout and a blank canvas ready for your vision. Whether you’re a first time home buyer looking to create your dream home or an investor seeking a promising project, this property delivers endless possibilities. Easy to show - all reasonable offers will be considered.

14. 2026-03-11
    price $55,000 690-char remark

    Show marketing remark (690 chars)

    Great Investment or Starter Home Near LaSalle Gardens & Virginia Park Don’t miss this once in a lifetime opportunity to own one of the last affordable homes in this rapidly developing area! Just minutes from the $2.2 billion Henry Ford redevelopment project, this neighborhood is poised for major growth - a true hidden gem with incredible potential. This spacious 4 bedroom Colonial offers a classic layout and a blank canvas ready for your vision. Whether you’re a first time home buyer looking to create your dream home or an investor seeking a promising project, this property delivers endless possibilities. Easy to show - all reasonable offers will be considered.

15. 2026-03-11
    listed $550,000 Active 675-char remark

    Show marketing remark (690 chars)

    Great Investment or Starter Home Near LaSalle Gardens & Virginia Park Don’t miss this once in a lifetime opportunity to own one of the last affordable homes in this rapidly developing area! Just minutes from the $2.2 billion Henry Ford redevelopment project, this neighborhood is poised for major growth - a true hidden gem with incredible potential. This spacious 4 bedroom Colonial offers a classic layout and a blank canvas ready for your vision. Whether you’re a first time home buyer looking to create your dream home or an investor seeking a promising project, this property delivers endless possibilities. Easy to show - all reasonable offers will be considered.

16. 2026-03-11
    listed $550,000 Active 690-char remark

    Show marketing remark (690 chars)

    Great Investment or Starter Home Near LaSalle Gardens & Virginia Park Don’t miss this once in a lifetime opportunity to own one of the last affordable homes in this rapidly developing area! Just minutes from the $2.2 billion Henry Ford redevelopment project, this neighborhood is poised for major growth - a true hidden gem with incredible potential. This spacious 4 bedroom Colonial offers a classic layout and a blank canvas ready for your vision. Whether you’re a first time home buyer looking to create your dream home or an investor seeking a promising project, this property delivers endless possibilities. Easy to show - all reasonable offers will be considered.

17. 2010-07-23
    historical
18. 2009-01-23
    listed $9,900
19. 2008-12-15
    historical
20. 2008-09-15
    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: $1,284 · $107/mo
• Projected year-2 tax: $1,284 · $107/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: $18,018
• − Mortgage interest: −$3,081
• − Property taxes: −$1,284
• − Insurance: −$275
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$1,600
• Taxable income: $8,895
• Est. tax owed @ 24.0%: −$2,135
• After-tax cash flow: $7,079/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

+455.6% since first listed

8 events — show timeline

• 2026-03-11 Price Changed $55,000 MiRealSource-MiMLS
• 2026-03-11 Price Changed $55,000 REALCOMP
• 2026-03-11 Listed $550,000 REALCOMP
• 2026-03-11 Listed $550,000 MiRealSource-MiMLS
• 2010-07-23 Listing Removed — REALCOMP
• 2009-01-23 Listed $9,900 REALCOMP
• 2008-12-15 Listing Removed — REALCOMP
• 2008-09-15 Listed $9,900 REALCOMP

Property tax history

+16.5%/yr

Latest (2025): $1,284 · +435.0% YoY. Source: county tax records.