5235 Chalmers St E · Detroit, MI 48213

$100,000

4 bd · 1.5 ba · 1,680 sqft · SingleFamily public records · 241 Days on market

Built 1926 6,098 sqft lot $60/sqft · 22% above area Est $82k · 22% over ↓ 9% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

Bring your vision and tools to this spacious two-family flat totaling 1,680 sq. ft. 2 units within each unit. Both units are vacant and ready for renovation - an excellent property to add to your rental portfolio or create a multi-generational living space. Located in a desirable neighborhood just off Warren, you'll enjoy close proximity to vibrant recreation: the sidewalks lead you near Chandler Park, Skate Park, Chandler Park Water Park, and Skating Land - perfect for renters who value outdoor activity and community amenities. A vacant lot sits nearby offering buyers a unique expansion opportunity through city acquisition for additional yard or parking space (buyer to verify with the city). Brick garage included. This home is filled with potential and waiting for its next chapter!

Key facts

• Vacant units
• Two-family flat
• Brick garage

Tags

• TWO-FAMILY FLAT
• VACANT UNITS
• CLOSE PROXIMITY TO RECREATION
• NEAR CHANDLER PARK
• UNIQUE EXPANSION OPPORTUNITY
• BRICK GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 10.1% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 192 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,488/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 1202% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 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 1926 — 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: 1.49% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.16%
• DSCR: 2.03
• GRM: 5.6

CMA / ARV

• ARV (median comp): $81,995
• List price: $100,000
• Delta: 21.96%
• 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
5968 Chalmers St	0.41mi	5/1.5 (+1)	1,728 (+3%)	7mo	$123,000	$71	66
10825 E Outer Dr	0.39mi	3/2.0 (-1)	1,650 (-2%)	10mo	$175,000	$106	63
4830 Dickerson St	0.51mi	3/1.5 (-1)	1,542 (-8%)	2mo	$60,099	$39	56
5299 Drexel St	0.36mi	4/2.0	1,914 (+14%)	7mo	$110,000	$57	52
4395 Maryland St	0.58mi	3/1.5 (-1)	1,840 (+10%)	1mo	$169,000	$92	51
5535 Balfour Rd	0.70mi	4/2.0	1,772 (+6%)	7mo	$30,000	$17	50
5790 Lakepointe St	0.55mi	3/1.5 (-1)	1,565 (-7%)	11mo	$162,500	$104	49
5035 Balfour Rd	0.70mi	3/1.0 (-1)	1,734 (+3%)	9mo	$46,500	$27	47
5721 Somerset Ave	0.68mi	3/1.5 (-1)	1,513 (-10%)	3mo	$152,000	$100	44
5794 Dickerson St	0.54mi	3/1.0 (-1)	1,467 (-13%)	4mo	$118,000	$80	43
5566 Somerset Ave	0.67mi	3/2.5 (-1)	1,521 (-10%)	3mo	$87,000	$57	42
5279 E Somerset Ave	0.63mi	5/2.0 (+1)	1,840 (+10%)	11mo	$160,000	$87	39

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: 16.2%
• Equity multiple: 1.65×
• Total profit: $18,198
• Equity at exit: $14,910

10-year hold

• IRR: 24.7%
• Equity multiple: 3.15×
• Total profit: $60,111
• Equity at exit: $8,646

Cash invested: $28,000 (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 48213

• Active inventory: 192
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$524
• Tax from tax record: −$69 /mo · $825/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $540

Break-even live

Break-even rent $804

Max offer price $100,000

Occupancy floor 59%

Sensitivity live

Price	-10% $597	-5% $569	+0% $540	+5% $512	+10% $484
Rent	-10% $423	-5% $482	+0% $540	+5% $599	+10% $658
Rate	-1.0pp $591	-0.5pp $566	base $540	+0.5pp $514	+1.0pp $488

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	0.40mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	45d	1	0.49mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,225	$1.11	0d	1	0.62mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	18d	1	0.69mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	45d	1	0.70mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.70mi
5911 Somerset Ave Detroit, MI	3.0	1.0	1200	$1,350	$1.12	0d	1	0.71mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	0.77mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	25d	1	0.83mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	45d	1	0.87mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.90mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.92mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.92mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.93mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	0.97mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.98mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	1.02mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	45d	1	1.02mi
5856 Barrett St Unit 1 Detroit, MI	3.0	1.0	1070	$1,000	$0.93	0d	1	1.09mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	19d	1	1.19mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	25d	1	1.20mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	1.25mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	18d	1	1.25mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	12d	1	1.35mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	1.39mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.45mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	19d	1	1.47mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	1.47mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	45d	1	1.48mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	45d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $100,000 Active 241 DOM
2. 2026-06-18
   days on market $100,000 Active 238 DOM
3. 2026-06-17
   days on market $100,000 Active 237 DOM
4. 2026-06-15
   days on market $100,000 Active 235 DOM
5. 2026-06-13
   days on market $100,000 Active 233 DOM
6. 2026-06-13
   days on market $100,000 Active 232 DOM
7. 2026-06-09
   days on market $100,000 Active 229 DOM
8. 2026-06-08
   days on market $100,000 Active 228 DOM
9. 2026-06-07
   days on market $100,000 Active 227 DOM
10. 2026-06-04
    days on market $100,000 Active 224 DOM
11. 2026-06-03
    days on market $100,000 Active 223 DOM
12. 2026-06-01
    days on market $100,000 Active 221 DOM
13. 2026-05-31
    days on market $100,000 Active 220 DOM
14. 2026-02-20
    price $100,000 793-char remark

    Show marketing remark (807 chars)

    Bring your vision and tools to this spacious two-family flat totaling 1,680 sq. ft. 2 units within each unit. Both units are vacant and ready for renovation—an excellent property to add to your rental portfolio or create a multi-generational living space. Located in a desirable neighborhood just off Warren, you’ll enjoy close proximity to vibrant recreation: the sidewalks lead you near Chandler Park, Skate Park, Chandler Park Water Park, and Skating Land—perfect for renters who value outdoor activity and community amenities. A vacant lot sits nearby offering buyers a unique expansion opportunity through city acquisition for additional yard or parking space (buyer to verify with the city). Brick garage included. This home is filled with potential and waiting for its next chapter!

15. 2026-02-20
    price $100,000 807-char remark

    Show marketing remark (807 chars)

    Bring your vision and tools to this spacious two-family flat totaling 1,680 sq. ft. 2 units within each unit. Both units are vacant and ready for renovation—an excellent property to add to your rental portfolio or create a multi-generational living space. Located in a desirable neighborhood just off Warren, you’ll enjoy close proximity to vibrant recreation: the sidewalks lead you near Chandler Park, Skate Park, Chandler Park Water Park, and Skating Land—perfect for renters who value outdoor activity and community amenities. A vacant lot sits nearby offering buyers a unique expansion opportunity through city acquisition for additional yard or parking space (buyer to verify with the city). Brick garage included. This home is filled with potential and waiting for its next chapter!

16. 2025-10-23
    listed $110,000 Active 807-char remark

    Show marketing remark (793 chars)

    Bring your vision and tools to this spacious two-family flat totaling 1,680 sq. ft. 2 units within each unit. Both units are vacant and ready for renovation - an excellent property to add to your rental portfolio or create a multi-generational living space. Located in a desirable neighborhood just off Warren, you'll enjoy close proximity to vibrant recreation: the sidewalks lead you near Chandler Park, Skate Park, Chandler Park Water Park, and Skating Land - perfect for renters who value outdoor activity and community amenities. A vacant lot sits nearby offering buyers a unique expansion opportunity through city acquisition for additional yard or parking space (buyer to verify with the city). Brick garage included. This home is filled with potential and waiting for its next chapter!

17. 2025-10-23
    listed $110,000 Active 793-char remark

    Show marketing remark (793 chars)

    Bring your vision and tools to this spacious two-family flat totaling 1,680 sq. ft. 2 units within each unit. Both units are vacant and ready for renovation - an excellent property to add to your rental portfolio or create a multi-generational living space. Located in a desirable neighborhood just off Warren, you'll enjoy close proximity to vibrant recreation: the sidewalks lead you near Chandler Park, Skate Park, Chandler Park Water Park, and Skating Land - perfect for renters who value outdoor activity and community amenities. A vacant lot sits nearby offering buyers a unique expansion opportunity through city acquisition for additional yard or parking space (buyer to verify with the city). Brick garage included. This home is filled with potential and waiting for its next chapter!

ⓘ 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: $825 · $69/mo
• Projected year-2 tax: $1,183 · $99/mo
• Expected delta: +$357/yr (+$30/mo · 43.3%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,851
• − Mortgage interest: −$5,602
• − Property taxes: −$825
• − Insurance: −$500
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$2,909
• Taxable income: $5,159
• Est. tax owed @ 24.0%: −$1,238
• After-tax cash flow: $5,246/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

-9.1% since first listed

4 events — show timeline

• 2026-02-20 Price Changed $100,000 MiRealSource-MiMLS
• 2026-02-20 Price Changed $100,000 REALCOMP
• 2025-10-23 Listed $110,000 REALCOMP
• 2025-10-23 Listed $110,000 MiRealSource-MiMLS

Property tax history

-0.1%/yr

Latest (2025): $825 · -54.8% YoY. Source: county tax records.