2979 Glendale St · Detroit, MI 48238

$64,900

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 130 Days on market

Built 1924 4,356 sqft lot $56/sqft · 61% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

Key facts

• 4,356 sq ft lot
• Built 1924
• Listed 130 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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 (+6.1%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 43% of the median local income ($33k/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 $449 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 + 6.1% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 24y ago; this cycle's ask has dropped $25k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.86% ✓
• Cap rate: 14.14%
• Cash-on-cash: 28.03%
• DSCR: 2.25
• GRM: 4.5

CMA / ARV

• ARV (median comp): $40,206
• List price: $64,900
• Delta: 61.42%
• 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
3735 W Buena Vista St	0.32mi	3/1.5	1,213 (+5%)	3mo	$164,900	$136	72
2509 Richton St	0.46mi	3/1.0	1,114 (-3%)	2mo	$15,000	$13	72
2268 Highland St	0.58mi	3/1.0	1,163 (+1%)	0mo	$10,000	$9	71
2474 Sturtevant St	0.38mi	3/1.0	1,092 (-5%)	4mo	$28,000	$26	70
4052 W Buena Vista St	0.49mi	3/1.5	1,242 (+8%)	1mo	$160,000	$129	62
2401 Cortland St	0.51mi	3/1.0	1,176 (+2%)	15mo	$18,000	$15	61
4225 Tyler St	0.57mi	2/1.0 (-1)	1,144 (-1%)	13mo	$16,500	$14	56
2291 Tuxedo St	0.73mi	3/1.5	1,197 (+4%)	4mo	$35,000	$29	55
2505 La Belle St	0.58mi	3/1.0	1,027 (-11%)	2mo	$25,000	$24	53
4232 W Buena Vista St	0.57mi	3/1.5	1,208 (+5%)	12mo	$25,000	$21	53
2420 Monterey St	0.54mi	3/1.0	1,080 (-6%)	14mo	$48,000	$44	53
4203 Monterey St	0.64mi	3/1.0	1,000 (-13%)	10mo	$40,000	$40	40

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 2.13×
• Total profit: $20,517
• Equity at exit: $9,677

10-year hold

• IRR: 35.8%
• Equity multiple: 4.86×
• Total profit: $70,145
• Equity at exit: $5,611

Cash invested: $18,172 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$340
• Tax from tax record: −$160 /mo · $1,923/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $425

Break-even live

Break-even rent $668

Max offer price $64,900

Occupancy floor 60%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	24d	1	0.21mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.32mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	43d	1	0.33mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	4d	1	0.36mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	14d	1	0.37mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.38mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	16d	1	0.42mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	43d	1	0.54mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	10d	1	0.55mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	43d	1	0.55mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	0.55mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	16d	1	0.55mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	43d	1	0.57mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	16d	1	0.59mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	4d	1	0.60mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.62mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	43d	1	0.67mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	1d	1	0.67mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	43d	1	0.71mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	43d	1	0.76mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	12d	1	0.76mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	24d	1	0.77mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	19d	1	0.79mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	4d	1	0.79mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	0.79mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	24d	1	0.80mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	43d	1	0.80mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	43d	1	0.81mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	43d	1	0.87mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	21d	1	0.95mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	17d	1	0.95mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	4d	1	0.97mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	43d	1	0.97mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	0.97mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	43d	1	1.00mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	14d	1	1.07mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	1.08mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	16d	1	1.10mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.11mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	12d	1	1.14mi

Listing history 50 events

1. 2026-06-18
   days on market $64,900 Active 130 DOM
2. 2026-06-17
   days on market $64,900 Active 129 DOM
3. 2026-06-15
   days on market $64,900 Active 127 DOM
4. 2026-06-13
   days on market $64,900 Active 125 DOM
5. 2026-06-13
   days on market $64,900 Active 124 DOM
6. 2026-06-09
   days on market $64,900 Active 121 DOM
7. 2026-06-08
   days on market $64,900 Active 120 DOM
8. 2026-06-07
   days on market $64,900 Active 119 DOM
9. 2026-06-04
   days on market $64,900 Active 116 DOM
10. 2026-06-03
    days on market $64,900 Active 115 DOM
11. 2026-06-01
    days on market $64,900 Active 113 DOM
12. 2026-05-31
    days on market $64,900 Active 112 DOM
13. 2026-04-21
    price $64,900 122-char remark

    Show marketing remark (122 chars)

    Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

14. 2026-04-21
    price $64,900 122-char remark

    Show marketing remark (122 chars)

    Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

15. 2026-04-21
    price $64,900

    Show marketing remark (122 chars)

    Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

16. 2026-02-04
    listed $89,900 Active 122-char remark

    Show marketing remark (122 chars)

    Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

17. 2026-02-04
    listed $89,900 Active 122-char remark

    Show marketing remark (122 chars)

    Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

18. 2026-02-04
    listed $89,900 Active

    Show marketing remark (122 chars)

    Three bedroom, 2 full bathrooms brick bungalow. Updated kitchen and baths. Great opportunity for homeowners and investors.

19. 2026-01-09
    historical
20. 2026-01-09
    historical
21. 2025-08-06
    listed $99,900 Active
22. 2025-08-06
    listed $99,900 Active
23. 2023-11-20
    soldstatus $99,000
24. 2021-01-22
    soldstatus $69,900
25. 2020-07-23
    soldstatus $69,900
26. 2020-04-01
    historical
27. 2020-04-01
    historical
28. 2020-03-20
    status Active
29. 2020-03-17
    historical
30. 2020-02-27
    historical
31. 2020-02-26
    historical
32. 2020-01-31
    status Active
33. 2020-01-08
    historical
34. 2019-11-04
    listed $55,000 Active
35. 2019-11-04
    listed $55,000 Active
36. 2019-11-04
    listed $55,000 Active
37. 2019-11-04
    listed $55,000 Active
38. 2018-08-30
    historical
39. 2018-08-30
    historical
40. 2018-07-28
    price $15,500
41. 2018-07-27
    price $15,500
42. 2018-07-06
    status Active
43. 2018-07-02
    historical
44. 2018-06-21
    listed $18,500 Active
45. 2018-06-21
    listed $18,500 Active
46. 2004-01-12
    soldstatus $20,800
47. 2004-01-12
    soldstatus $20,800
48. 2003-09-24
    historical
49. 2002-12-13
    listed $20,800
50. 2002-12-12
    listed $23,400

ⓘ 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: $1,923 · $160/mo
• Projected year-2 tax: $1,923 · $160/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: $14,464
• − Mortgage interest: −$3,635
• − Property taxes: −$1,923
• − Insurance: −$324
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$1,888
• Taxable income: $4,378
• Est. tax owed @ 24.0%: −$1,051
• After-tax cash flow: $4,044/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+177.4% since first listed

38 events — show timeline

• 2026-04-21 Price Changed $64,900 MiRealSource-MiMLS
• 2026-04-21 Price Changed $64,900 REALCOMP
• 2026-04-21 Price Changed $64,900 SW Michigan MLS
• 2026-02-04 Listed $89,900 SW Michigan MLS
• 2026-02-04 Listed $89,900 REALCOMP
• 2026-02-04 Listed $89,900 MiRealSource-MiMLS
• 2026-01-09 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2025-08-06 Listed $99,900 MiRealSource-MiMLS
• 2025-08-06 Listed $99,900 REALCOMP
• 2023-11-20 Sold (Public Records) $99,000 Public Records
• 2021-01-22 Sold (Public Records) $69,900 Public Records
• 2020-07-23 Sold (Public Records) $69,900 Public Records
• 2020-04-01 Listing Removed — REALCOMP
• 2020-04-01 Listing Removed — MiRealSource-MiMLS
• 2020-03-20 Relisted — REALCOMP
• 2020-03-17 Listing Removed — REALCOMP
• 2020-02-27 Listing Removed — REALCOMP
• 2020-02-26 Listing Removed — MiRealSource-MiMLS
• 2020-01-31 Relisted — REALCOMP
• 2020-01-08 Listing Removed — REALCOMP
• 2019-11-04 Listed $55,000 MiRealSource-MiMLS
• 2019-11-04 Listed $55,000 MiRealSource-MiMLS
• 2019-11-04 Listed $55,000 REALCOMP
• 2019-11-04 Listed $55,000 REALCOMP
• 2018-08-30 Listing Removed — REALCOMP
• 2018-08-30 Listing Removed — MiRealSource-MiMLS
• 2018-07-28 Price Changed $15,500 MiRealSource-MiMLS
• 2018-07-27 Price Changed $15,500 REALCOMP
• 2018-07-06 Relisted — REALCOMP
• 2018-07-02 Listing Removed — REALCOMP
• 2018-06-21 Listed $18,500 MiRealSource-MiMLS
• 2018-06-21 Listed $18,500 REALCOMP
• 2004-01-12 Sold (MLS) $20,800 MiRealSource-MiMLS
• 2004-01-12 Sold (MLS) $20,800 REALCOMP
• 2003-09-24 Listing Removed — MiRealSource-MiMLS
• 2002-12-13 Listed $20,800 REALCOMP
• 2002-12-12 Listed $23,400 MiRealSource-MiMLS

Property tax history

+20.8%/yr

Latest (2025): $1,923 · -10.0% YoY. Source: county tax records.