2546 W Forest Ave · Detroit, MI 48208

$60,000

2 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 65 Days on market

Built 1913 4,792 sqft lot $44/sqft · 25% below area Est $79k · 25% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2546 W. Forest + 2540 W. Forest present a unique opportunity to acquire a structure in need of renovation along with an adjacent vacant lot. The DLBA is seeking a qualified proposal for the rehabilitation of 2546 W. Forest, with 2540 W. Forest to be included as part of the overall site plan and redevelopment approach. Proposals should clearly outline the scope of renovation for the existing structure, the intended use of the additional lot, project costs, timeline, and proof of funds sufficient to support completion. The strongest proposals will demonstrate a feasible redevelopment plan, relevant experience, and a cohesive vision for both parcels that contributes positively to the surrounding neighborhood. 2546 & 2540 W Forest are part of a bundle package and must be sold together for $60,000.00 Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing.

Key facts

• 4,792 sq ft lot
• Built 1913
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $875 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.8% 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: 184 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,596/mo this rent would consume 53% of the median local household income ($36k/yr) (locally 601% 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 $415 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 + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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: 2.66% ✓
• Cap rate: 23.80%
• Cash-on-cash: 62.52%
• DSCR: 3.78
• GRM: 3.1

CMA / ARV

• ARV (median comp): $79,471
• List price: $60,000
• Delta: -24.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3364 Tillman St	0.73mi	3/1.5 (+1)	1,260 (-7%)	7mo	$115,000	$91	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.5%
• Equity multiple: 3.74×
• Total profit: $46,033
• Equity at exit: $8,946

10-year hold

• IRR: 66.1%
• Equity multiple: 7.66×
• Total profit: $111,897
• Equity at exit: $5,188

Cash invested: $16,800 (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

• Home prices YoY: -5.9%
• Active inventory: 184
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,596 high
• Mortgage (P&I): −$315
• Tax from tax record: −$46 /mo · $552/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $875

Break-even live

Break-even rent $488

Max offer price $60,000

Occupancy floor 40%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	3d	1	0.11mi
3998 15th St Unit 1 Detroit, MI	2.0	1.0	1200	$1,300	$1.08	44d	1	0.35mi
3984 Commonwealth St Unit B Detroit, MI	3.0	2.0	1100	$2,400	$2.18	24d	1	0.73mi
3309 14th St Detroit, MI	1.0–3.0	1.0–2.5	942	$1,612	$1.71	2d	11	0.75mi
6077 Linwood St Detroit, MI	2.0	1.0	1200	$2,000	$1.67	44d	1	0.84mi
1493 W Grand Blvd Detroit, MI	2.0	1.0	1250	$1,145	$0.92	44d	1	0.92mi
6144 16th St Detroit, MI	3.0	1.0	1284	$1,200	$0.93	44d	1	0.96mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	22d	1	0.97mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	24d	1	0.97mi
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	17d	1	0.98mi
3143 Trumbull Unit 301 Detroit, MI	2.0	1.0	1000	$1,650	$1.65	22d	1	1.00mi
944 W Alexandrine St Unit 1 Detroit, MI	3.0	1.0	1100	$1,950	$1.77	44d	1	1.06mi
6183 Hecla St Detroit, MI	3.0	1.0	1100	$1,700	$1.55	24d	1	1.10mi
2732 Harrison St Detroit, MI	2.0	2.5	1320	$2,750	$2.08	44d	1	1.11mi
701 W Canfield St Unit 1 Detroit, MI	2.0	1.5	1144	$3,250	$2.84	44d	1	1.15mi
701 W Canfield St Unit 4 Detroit, MI	2.0	1.5	1094	$3,000	$2.74	44d	1	1.15mi
677 W Canfield St Detroit, MI	2.0	1.5	1200	$2,750	$2.29	17d	1	1.18mi
669 W Canfield St Unit 2 Detroit, MI	2.0	2.0	1500	$2,400	$1.60	44d	1	1.19mi
640 W Willis St Detroit, MI	1.0–2.0	1.0	1037	$1,750	$1.69	5d	10	1.22mi
4709 2nd Ave Detroit, MI	1.0–2.0	1.0	672	$1,350	$2.01	2d	2	1.23mi
3012 Lothrop Detroit, MI	2.0	1.0	1800	$1,300	$0.72	3d	1	1.24mi
727 W Grand Blvd Detroit, MI	1.0	1.5–2.0	900	$1,100	$1.22	44d	4	1.26mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	44d	1	1.28mi
7340 Churchill St Unit 2 Detroit, MI	2.0	1.0	1046	$1,100	$1.05	24d	1	1.31mi
2223 Wabash St Detroit, MI	2.0	2.0	1300	$2,800	$2.15	13d	1	1.34mi
1800 W Bethune St Unit 1228665P Detroit, MI	2.0	1.0	904	$3,135	$3.47	44d	1	1.43mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	44d	1	1.47mi
5440 Cass Ave Detroit, MI	2.0	1.0–2.0	650	$1,754	$2.70	22d	6	1.47mi
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	4d	1	1.48mi
7640 Woodrow Wilson St Unit 1 Detroit, MI	3.0	1.5	1095	$1,400	$1.28	44d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $60,000 Active 65 DOM
2. 2026-06-17
   days on market $60,000 Active 64 DOM
3. 2026-06-15
   days on market $60,000 Active 62 DOM
4. 2026-06-13
   days on market $60,000 Active 60 DOM
5. 2026-06-13
   days on market $60,000 Active 59 DOM
6. 2026-06-09
   days on market $60,000 Active 56 DOM
7. 2026-06-08
   days on market $60,000 Active 55 DOM
8. 2026-06-07
   days on market $60,000 Active 54 DOM
9. 2026-06-04
   days on market $60,000 Active 51 DOM
10. 2026-06-03
    days on market $60,000 Active 50 DOM
11. 2026-06-02
    days on market $60,000 Active 49 DOM
12. 2026-06-01
    days on market $60,000 Active 48 DOM
13. 2026-05-31
    days on market $60,000 Active 47 DOM
14. 2026-04-14
    listed $60,000 Active 1325-char remark

    Show marketing remark (1325 chars)

    2546 W. Forest + 2540 W. Forest present a unique opportunity to acquire a structure in need of renovation along with an adjacent vacant lot. The DLBA is seeking a qualified proposal for the rehabilitation of 2546 W. Forest, with 2540 W. Forest to be included as part of the overall site plan and redevelopment approach. Proposals should clearly outline the scope of renovation for the existing structure, the intended use of the additional lot, project costs, timeline, and proof of funds sufficient to support completion. The strongest proposals will demonstrate a feasible redevelopment plan, relevant experience, and a cohesive vision for both parcels that contributes positively to the surrounding neighborhood. 2546 & 2540 W Forest are part of a bundle package and must be sold together for $60,000.00 Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing.

15. 2026-04-14
    listed $60,000 Active 1325-char remark

    Show marketing remark (1325 chars)

    2546 W. Forest + 2540 W. Forest present a unique opportunity to acquire a structure in need of renovation along with an adjacent vacant lot. The DLBA is seeking a qualified proposal for the rehabilitation of 2546 W. Forest, with 2540 W. Forest to be included as part of the overall site plan and redevelopment approach. Proposals should clearly outline the scope of renovation for the existing structure, the intended use of the additional lot, project costs, timeline, and proof of funds sufficient to support completion. The strongest proposals will demonstrate a feasible redevelopment plan, relevant experience, and a cohesive vision for both parcels that contributes positively to the surrounding neighborhood. 2546 & 2540 W Forest are part of a bundle package and must be sold together for $60,000.00 Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing.

ⓘ 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: $552 · $46/mo
• Projected year-2 tax: $738 · $61/mo
• Expected delta: +$186/yr (+$16/mo · 33.7%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,154
• − Mortgage interest: −$3,361
• − Property taxes: −$552
• − Insurance: −$300
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$1,745
• Taxable income: $10,131
• Est. tax owed @ 24.0%: −$2,431
• After-tax cash flow: $8,072/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): 8,037
• Household income: $36,194
• Rent vs Own: 65.7% rent · 34.3% own
• Severe rent burden: 601.0

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 (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% Arabic 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: ▼ -10.56%
• Current HPI: 168.8907
• Rent YoY: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-14 Listed $60,000 MiRealSource-MiMLS
• 2026-04-14 Listed $60,000 REALCOMP

Property tax history

-7.6%/yr

Latest (2025): $552 · -52.8% YoY. Source: county tax records.