9313 Broadstreet Ave · Detroit, MI 48204

$175,000

6 bd · 2.5 ba · 2,400 sqft · MultiFamily public records · 10 Days on market

Built 1925 5,663 sqft lot Est $130k · 35% over

---

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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Opportunity awaits with this brick duplex located on Detroit's west side. The property features two spacious tenant-occupied units, each offering 3 bedrooms, 1 full bathroom, comfortable living areas, separate dining rooms, functional kitchens, and front and rear porches. A shared basement includes separate laundry hookups for each unit, and appliances are included in the sale. With tenants already in place, this property offers immediate income potential and could be a valuable addition to an investor's portfolio. Conveniently located near schools, shopping, dining, and major transportation routes.

Key facts

• 5,663 sq ft lot
• 2 parking spots
• Built 1925

Property features AI

Exterior

• Utilities: Natural gas; Forced air heating (natural gas)
• Home design: Multi-family property; Built in 1925
• Construction: Basement foundation
• Exterior features: Brick exterior

Interior

• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Two-unit layout (multi-family)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive. Per door: $378/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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: 244 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $2,485/mo this rent would consume 87% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 4y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.51%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $129,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9662 Broadstreet Ave	0.15mi	6/2.0	2,502 (+4%)	2mo	$146,000	$58	82
3785 Blaine St	0.59mi	6/2.5	2,330 (-3%)	1mo	$40,000	$17	66
3757 Blaine St	0.61mi	6/2.5	2,362 (-2%)	8mo	$205,000	$87	62
11357 Broadstreet Ave	0.48mi	6/2.0	2,358 (-2%)	15mo	$155,000	$66	60
5030 S Martindale St	0.44mi	6/2.0	2,584 (+8%)	7mo	$17,500	$7	59
3759 W Euclid St	0.74mi	6/2.0	2,346 (-2%)	2mo	$207,500	$88	58
5029 Dailey St	0.43mi	5/2.0 (-1)	2,330 (-3%)	13mo	$125,000	$54	58
10053 Quincy St	0.49mi	6/2.0	2,200 (-8%)	5mo	$80,000	$36	57
8665 Quincy St	0.46mi	6/2.0	2,526 (+5%)	14mo	$142,500	$56	56
3813 Blaine St	0.58mi	6/2.0	2,650 (+10%)	6mo	$110,000	$42	49
11739 Yellowstone St	0.69mi	6/2.5	2,314 (-4%)	19mo	$120,000	$52	46
4081 W Euclid St	0.67mi	6/2.0	2,700 (+12%)	1mo	$71,200	$26	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 3.93×
• Total profit: $143,473
• Equity at exit: $157,654

10-year hold

• IRR: 32.8%
• Equity multiple: 8.85×
• Total profit: $384,729
• Equity at exit: $339,987

Cash invested: $49,000 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,485 high
• Mortgage (P&I): −$918
• Tax from tax record: −$217 /mo · $2,603/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $756

Break-even live

Break-even rent $1,529

Max offer price $175,000

Occupancy floor 65%

Sensitivity live

Price	-10% $855	-5% $805	+0% $756	+5% $706	+10% $657
Rent	-10% $559	-5% $657	+0% $756	+5% $854	+10% $952
Rate	-1.0pp $844	-0.5pp $800	base $756	+0.5pp $710	+1.0pp $664

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,486
Total (2 units)			$2,485

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	0.65mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	10d	1	1.10mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	1.16mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	1.42mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.45mi

Listing history 9 events

1. 2026-06-18
   days on market $175,000 Active 10 DOM
2. 2026-06-17
   days on market $175,000 Active 9 DOM
3. 2026-06-16
   days on market $175,000 Active 8 DOM
4. 2026-06-15
   days on market $175,000 Active 7 DOM
5. 2026-06-13
   days on market $175,000 Active 5 DOM
6. 2026-06-13
   days on market $175,000 Active 4 DOM
7. 2026-06-08
   statusdays on marketlisting id $175,000 Active 1 DOM
8. 2026-06-07
   remarks 606-char remark
9. 2026-06-07
   listed $175,000 Coming Soon 2 DOM

ⓘ 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: $2,603 · $217/mo
• Projected year-2 tax: $2,649 · $221/mo
• Expected delta: +$46/yr (+$4/mo · 1.8%)

ⓘ 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: $29,820
• − Mortgage interest: −$9,803
• − Property taxes: −$2,603
• − Insurance: −$875
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − Depreciation: −$5,091
• Taxable income: $6,678
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $7,465/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+133.3% since first listed

36 events — show timeline

• 2026-06-05 Coming Soon $175,000 MiRealSource-MiMLS
• 2025-08-11 Listing Removed — REALCOMP
• 2025-02-10 Listed $199,900 REALCOMP
• 2025-01-07 Listing Removed — REALCOMP
• 2025-01-07 Listing Removed — MiRealSource-MiMLS
• 2024-09-09 Listed $180,000 REALCOMP
• 2024-09-09 Listed $180,000 MiRealSource-MiMLS
• 2024-08-09 Listing Removed — MiRealSource-MiMLS
• 2024-08-09 Listing Removed — REALCOMP
• 2024-08-06 Price Changed $199,000 MiRealSource-MiMLS
• 2024-08-06 Price Changed $199,000 REALCOMP
• 2024-07-03 Price Changed $225,000 MiRealSource-MiMLS
• 2024-07-03 Price Changed $225,000 REALCOMP
• 2024-05-22 Price Changed $239,900 MiRealSource-MiMLS
• 2024-05-21 Price Changed $239,900 REALCOMP
• 2024-04-17 Listed $249,000 MiRealSource-MiMLS
• 2024-04-17 Listed $249,000 REALCOMP
• 2023-03-04 Listing Removed — MiRealSource-MiMLS
• 2023-03-04 Listing Removed — REALCOMP
• 2023-02-21 Listed $190,000 MiRealSource-MiMLS
• 2023-02-21 Listed $190,000 REALCOMP
• 2022-06-01 Listing Removed — REALCOMP
• 2022-06-01 Listing Removed — MiRealSource-MiMLS
• 2022-05-07 Relisted — MiRealSource-MiMLS
• 2022-05-07 Relisted — REALCOMP
• 2022-04-23 Pending — MiRealSource-MiMLS
• 2022-04-23 Pending — REALCOMP
• 2022-04-19 Price Changed $55,000 MiRealSource-MiMLS
• 2022-04-19 Price Changed $55,000 REALCOMP
• 2022-04-19 Relisted — MiRealSource-MiMLS
• 2022-04-19 Relisted — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2022-03-26 Pending — MiRealSource-MiMLS
• 2022-03-26 Pending — REALCOMP
• 2022-03-17 Listed $75,000 MiRealSource-MiMLS
• 2022-03-17 Listed $75,000 REALCOMP

Property tax history

+7.5%/yr

Latest (2025): $2,603 · +5.5% YoY. Source: county tax records.