3810 Tyler St · Detroit, MI 48238

$200,000

5 bd · 2.5 ba · 2,650 sqft · MultiFamily public records · 15 Days on market

Built 1927 3,920 sqft lot

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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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to this beautifully renovated three-unit multifamily property in Detroit's historic Buena Vista neighborhood! Blending timeless early 20th-century charm with modern updates, this property offers an exceptional opportunity for investors and owner-occupants. The spacious lower unit features 3 bedrooms, 1 bathroom, a beautiful fireplace, and nearly 1,200 square feet of living space. The two upper units each offer 1 bedroom and 1 bathroom, with one featuring a dining room, private balcony, and fireplace, while the other includes a convenient Murphy bed. Whether you're looking to expand your investment portfolio or house hack, this turnkey property has the potential to generate up to $3,500 per month in rental income. Don't miss this income-producing opportunity in one of Detroit's most historic neighborhoods!

Key facts

• 3,920 sq ft lot
• Built 1927
• Listed 15 days

Property features AI

Finance

• Other: Lot approximately 0.09 acre (35 x 116); Zoned for multi-family

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two stories
• Construction: Brick construction
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Steam heating; No cooling
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 10.2% 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: Rents rising fast (+6.1%/yr); 346 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $3,056/mo this rent would consume 110% of the median local household income ($33k/yr) (locally 2172% 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 $6k 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 $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago 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.
• Current owner paid $16k; list at $200k implies a 1112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,000 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $116,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3741 Tyler St	0.07mi	6/2.5 (+1)	2,600 (-2%)	2mo	$15,000	$6	87
3740 Tyler St	0.07mi	6/2.0 (+1)	2,600 (-2%)	2mo	$159,500	$61	85
3782 Tyler St	0.03mi	6/2.0 (+1)	2,600 (-2%)	4mo	$97,500	$38	85
4088 Tyler St	0.13mi	6/3.0 (+1)	2,690 (+2%)	1mo	$83,600	$31	84
3729 W Grand St	0.22mi	6/2.0 (+1)	2,704 (+2%)	3mo	$120,000	$44	77
4324 W Buena Vista St	0.27mi	6/3.0 (+1)	2,700 (+2%)	1mo	$148,000	$55	76
4002 W Buena Vista St	0.07mi	6/2.0 (+1)	3,007 (+14%)	0mo	$179,000	$60	67
3734 W Buena Vista St	0.09mi	6/2.0 (+1)	2,320 (-12%)	2mo	$168,000	$72	67
3230 Fullerton St	0.36mi	6/2.0 (+1)	2,950 (+11%)	3mo	$65,000	$22	55
2691 Pasadena St	0.59mi	4/2.0 (-1)	2,402 (-9%)	0mo	$85,000	$35	50
13233 Santa Rosa Dr	0.52mi	5/2.0	2,279 (-14%)	2mo	$175,000	$77	49
2952 Elmhurst St	0.69mi	6/2.5 (+1)	2,950 (+11%)	2mo	$65,000	$22	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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 1.78×
• Total profit: $43,729
• Equity at exit: $29,821

10-year hold

• IRR: 29.0%
• Equity multiple: 3.98×
• Total profit: $167,002
• Equity at exit: $17,292

Cash invested: $56,000 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $3,056 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$244 /mo · $2,924/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $1,038

Break-even live

Break-even rent $1,742

Max offer price $200,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,203
▸ 2× units	1	1	$1,854
Total (3 units)			$3,056

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	4d	1	0.33mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	0.53mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	0.88mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	1.07mi
2286 Calvert St Detroit, MI	4.0	1.0	3402	$1,450	$0.43	14d	1	1.27mi

Listing history 12 events

1. 2026-06-18
   days on market $200,000 Active 15 DOM
2. 2026-06-17
   price $200,000 Active 14 DOM
3. 2026-06-17
   days on market $210,000 Active 14 DOM
4. 2026-06-16
   days on market $210,000 Active 13 DOM
5. 2026-06-15
   days on market $210,000 Active 12 DOM
6. 2026-06-13
   days on market $210,000 Active 10 DOM
7. 2026-06-13
   days on market $210,000 Active 9 DOM
8. 2026-06-09
   days on market $210,000 Active 6 DOM
9. 2026-06-08
   days on market $210,000 Active 5 DOM
10. 2026-06-07
    days on market $210,000 Active 4 DOM
11. 2026-06-04
    remarks 687-char remark
12. 2026-06-04
    listed $210,000 Active 1 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: $2,924 · $244/mo
• Projected year-2 tax: $3,002 · $250/mo
• Expected delta: +$78/yr (+$6/mo · 2.7%)

ⓘ 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 · 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: $36,672
• − Mortgage interest: −$11,203
• − Property taxes: −$2,924
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,934
• − Management: −$2,934
• − Depreciation: −$5,818
• Taxable income: $9,859
• Est. tax owed @ 24.0%: −$2,366
• After-tax cash flow: $10,095/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

+1172.7% since first listed

8 events — show timeline

• 2026-06-02 Listed $210,000 REALCOMP
• 2026-06-02 Listed $210,000 MiRealSource-MiMLS
• 2013-08-12 Sold (MLS) $16,500 MiRealSource-MiMLS
• 2013-08-12 Sold (MLS) $16,500 REALCOMP
• 2013-07-21 Listing Removed — MiRealSource-MiMLS
• 2013-07-21 Listing Removed — REALCOMP
• 2013-07-02 Listed $16,500 MiRealSource-MiMLS
• 2013-07-02 Listed $16,500 REALCOMP

Property tax history

+5.3%/yr

Latest (2025): $2,924 · +0.8% YoY. Source: county tax records.