540 E Boston Blvd · Detroit, MI 48202

$150,000

3 bd · 2.0 ba · 2,087 sqft · SingleFamily public records · 120 Days on market

Built 1912 0.25 ac lot $72/sqft · 19% below area Est $184k · 19% under

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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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The property is located in a prime area of Detroit. Lots of Potential in the Beautiful Boston area! The property Needs a complete remodel to make it a real gem. Great floor plan. Property sold as is. Cautious while showing due to trash. No Power so please schedule during daylight time. This property is part of a decedent's estate and is subject to probate proceedings in Wayne County Probate Court. Seller has petitioned for appointment as Personal Representative. Sale is contingent upon issuance of Letters of Authority and any required court approvals. Closing timeline may be extended to accommodate probate administration. Property is being sold as-is.

Key facts

• Complete remodel
• Floor plan
• 0.25 acre lot

Tags

• COMPLETE REMODEL
• FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% 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 falling (-5.1%/yr); 257 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,761/mo this rent would consume 48% of the median local household income ($44k/yr) (locally 1258% 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 $4k 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 120 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $65k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $150k implies a 1644% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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 1912 — 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: 1.17% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 7.1

CMA / ARV

• ARV (median comp): $184,085
• List price: $150,000
• Delta: -18.52%
• 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
80 Glynn Ct	0.49mi	4/2.0 (+1)	2,058 (-1%)	0mo	$365,000	$177	70
348 Josephine St	0.43mi	4/1.5 (+1)	1,978 (-5%)	2mo	$199,000	$101	63
10304 Oakland St	0.22mi	3/2.5	1,798 (-14%)	14mo	$150,000	$83	53
79 Tennyson St	0.54mi	4/1.5 (+1)	1,951 (-6%)	7mo	$48,500	$25	51
103 Woodland St	0.51mi	4/3.5 (+1)	1,997 (-4%)	14mo	$260,000	$130	46
118 Massachusetts St	0.70mi	4/1.5 (+1)	1,971 (-6%)	7mo	$190,000	$96	45
693 Calvert St	0.68mi	4/1.5 (+1)	1,914 (-8%)	4mo	$109,000	$57	45
128 Taylor St	0.65mi	4/2.0 (+1)	2,229 (+7%)	13mo	$125,000	$56	42
165 Connecticut St	0.57mi	4/2.0 (+1)	2,326 (+12%)	12mo	$188,500	$81	40
195 Massachusetts St	0.71mi	4/2.0 (+1)	1,800 (-14%)	3mo	$140,000	$78	37
312 Alger St	0.63mi	3/2.5	1,865 (-11%)	18mo	$325,000	$174	36
94 Massachusetts St	0.71mi	4/1.0 (+1)	2,265 (+8%)	17mo	$159,793	$71	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-3,066
• Equity at exit: $22,365

10-year hold

• IRR: 4.3%
• Equity multiple: 1.27×
• Total profit: $11,354
• Equity at exit: $12,969

Cash invested: $42,000 (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 48202

• Rents YoY: -5.1%
• Active inventory: 257
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,761 high
• Mortgage (P&I): −$787
• Tax from tax record: −$127 /mo · $1,527/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $415

Break-even live

Break-even rent $1,236

Max offer price $150,000

Occupancy floor 71%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	17d	1	0.16mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	43d	1	0.20mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	23d	1	0.20mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	43d	1	0.21mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	10d	1	0.54mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	1d	1	0.56mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	21d	1	0.56mi
634 Atkinson St Detroit, MI	3.0	3.5	3000	$6,500	$2.17	10d	1	0.66mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	1d	1	0.75mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	0.77mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	0.86mi
2297 Florian St Unit 2297 Hamtramck, MI	2.0	1.0	1500	$1,250	$0.83	24d	1	0.91mi
11705 # 1 ST Unit Mackay St unit Detroit, MI	2.0	1.0	2000	$1,050	$0.53	24d	1	1.07mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.07mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	1.15mi
7645 Woodward Ave #70 Detroit, MI	2.0	2.5	1547	$2,600	$1.68	4d	1	1.18mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	43d	1	1.34mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.38mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	14d	1	1.45mi

Listing history 36 events

1. 2026-06-18
   days on market $150,000 Active 120 DOM
2. 2026-06-17
   days on market $150,000 Active 119 DOM
3. 2026-06-15
   days on market $150,000 Active 117 DOM
4. 2026-06-13
   days on market $150,000 Active 115 DOM
5. 2026-06-13
   days on market $150,000 Active 114 DOM
6. 2026-06-09
   days on market $150,000 Active 111 DOM
7. 2026-06-08
   days on market $150,000 Active 110 DOM
8. 2026-06-07
   days on market $150,000 Active 109 DOM
9. 2026-06-04
   days on market $150,000 Active 106 DOM
10. 2026-06-03
    days on market $150,000 Active 105 DOM
11. 2026-06-01
    days on market $150,000 Active 103 DOM
12. 2026-05-31
    pricedays on market $150,000 Active 102 DOM
13. 2026-03-24
    price $205,000 659-char remark

    Show marketing remark (659 chars)

    The property is located in a prime area of Detroit. Lots of Potential in the Beautiful Boston area! The property Needs a complete remodel to make it a real gem. Great floor plan. Property sold as is. Cautious while showing due to trash. No Power so please schedule during daylight time. This property is part of a decedent's estate and is subject to probate proceedings in Wayne County Probate Court. Seller has petitioned for appointment as Personal Representative. Sale is contingent upon issuance of Letters of Authority and any required court approvals. Closing timeline may be extended to accommodate probate administration. Property is being sold as-is.

14. 2026-03-23
    price $205,000 666-char remark

    Show marketing remark (666 chars)

    The property is located in a prime area of Detroit. Lots of Potential in the Beautiful Boston area! The property Needs a complete remodel to make it a real gem. Great floor plan. Property sold as is. Cautious while showing due to trash. No Power so please schedule during daylight time. This property is part of a decedent’s estate and is subject to probate proceedings in Wayne County Probate Court. Seller has petitioned for appointment as Personal Representative. Sale is contingent upon issuance of Letters of Authority and any required court approvals. Closing timeline may be extended to accommodate probate administration. Property is being sold as-is.

15. 2026-02-18
    listed $215,000 Active 659-char remark

    Show marketing remark (666 chars)

    The property is located in a prime area of Detroit. Lots of Potential in the Beautiful Boston area! The property Needs a complete remodel to make it a real gem. Great floor plan. Property sold as is. Cautious while showing due to trash. No Power so please schedule during daylight time. This property is part of a decedent’s estate and is subject to probate proceedings in Wayne County Probate Court. Seller has petitioned for appointment as Personal Representative. Sale is contingent upon issuance of Letters of Authority and any required court approvals. Closing timeline may be extended to accommodate probate administration. Property is being sold as-is.

16. 2026-02-18
    listed $215,000 Active 666-char remark

    Show marketing remark (666 chars)

    The property is located in a prime area of Detroit. Lots of Potential in the Beautiful Boston area! The property Needs a complete remodel to make it a real gem. Great floor plan. Property sold as is. Cautious while showing due to trash. No Power so please schedule during daylight time. This property is part of a decedent’s estate and is subject to probate proceedings in Wayne County Probate Court. Seller has petitioned for appointment as Personal Representative. Sale is contingent upon issuance of Letters of Authority and any required court approvals. Closing timeline may be extended to accommodate probate administration. Property is being sold as-is.

17. 2024-04-03
    status Pending
18. 2024-04-03
    status Pending
19. 2024-03-20
    historical
20. 2024-03-20
    historical
21. 2024-02-08
    status Active
22. 2024-02-08
    status Active
23. 2024-02-05
    status Pending
24. 2024-02-05
    status Pending
25. 2024-01-10
    price $215,000
26. 2024-01-10
    price $215,000
27. 2024-01-08
    price $205,000
28. 2024-01-08
    price $205,000
29. 2023-11-17
    price $250,000
30. 2023-11-17
    price $250,000
31. 2023-10-28
    listed $290,000 Active
32. 2023-10-27
    listed $290,000 Active
33. 2008-10-08
    soldstatus $8,600
34. 2008-05-14
    listed $10,500
35. 2008-02-21
    historical
36. 2006-06-21
    listed $180,000

ⓘ 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: $1,527 · $127/mo
• Projected year-2 tax: $1,918 · $160/mo
• Expected delta: +$392/yr (+$33/mo · 25.6%)

ⓘ 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 ≥96°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: $21,130
• − Mortgage interest: −$8,402
• − Property taxes: −$1,527
• − Insurance: −$750
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$4,364
• Taxable income: $2,706
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $4,327/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): 15,780
• Household income: $43,627
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1258.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 60% White 26% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -239.24%
• Current HPI: 145.5509
• Rent YoY: ▼ -5.13%
• 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

+13.9% since first listed

24 events — show timeline

• 2026-03-24 Price Changed $205,000 MiRealSource-MiMLS
• 2026-03-23 Price Changed $205,000 REALCOMP
• 2026-02-18 Listed $215,000 REALCOMP
• 2026-02-18 Listed $215,000 MiRealSource-MiMLS
• 2024-04-03 Pending — MiRealSource-MiMLS
• 2024-04-03 Pending — REALCOMP
• 2024-03-20 Listing Removed — MiRealSource-MiMLS
• 2024-03-20 Listing Removed — REALCOMP
• 2024-02-08 Relisted — MiRealSource-MiMLS
• 2024-02-08 Relisted — REALCOMP
• 2024-02-05 Pending — REALCOMP
• 2024-02-05 Pending — MiRealSource-MiMLS
• 2024-01-10 Price Changed $215,000 MiRealSource-MiMLS
• 2024-01-10 Price Changed $215,000 REALCOMP
• 2024-01-08 Price Changed $205,000 MiRealSource-MiMLS
• 2024-01-08 Price Changed $205,000 REALCOMP
• 2023-11-17 Price Changed $250,000 MiRealSource-MiMLS
• 2023-11-17 Price Changed $250,000 REALCOMP
• 2023-10-28 Listed $290,000 REALCOMP
• 2023-10-27 Listed $290,000 MiRealSource-MiMLS
• 2008-10-08 Sold (MLS) $8,600 REALCOMP
• 2008-05-14 Listed $10,500 REALCOMP
• 2008-02-21 Listing Removed — REALCOMP
• 2006-06-21 Listed $180,000 REALCOMP

Property tax history

+0.3%/yr

Latest (2025): $1,527 · -56.7% YoY. Source: county tax records.