16906 Prairie St · Detroit, MI 48221

$135,000

4 bd · 2.0 ba · 2,058 sqft · Townhouse public records · 117 Days on market

Built 1929 4,792 sqft lot $66/sqft · at area comps Est $138k · at est.

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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 +24.9/30.0
• ARV discount +8.6/15.0
• 1% rule +8.1/10.0
• DSCR +8.1/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid 2-family flat in a convenient location just minutes from major freeways and popular shopping destinations. Both units are currently occupied, providing immediate rental income for investors. Property features spacious layouts with great potential and just needs a little TLC to truly shine. Great opportunity to add value and build equity in a high-demand area. Perfect for investors or owner-occupants seeking an income-producing property with upside. 48-hour notice required for all showings.

Key facts

• 4,792 sq ft lot
• Built 1929
• Listed 116 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

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 (+3.4%/yr); 349 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% of the median local income ($58k/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 $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $135k implies a 1127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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: 1.31% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 6.4

CMA / ARV

• ARV (median comp): $138,486
• List price: $135,000
• Delta: -2.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,384
• Equity at exit: $20,129

10-year hold

• IRR: 8.6%
• Equity multiple: 1.68×
• Total profit: $25,631
• Equity at exit: $11,672

Cash invested: $37,800 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,767 high
• Mortgage (P&I): −$708
• Tax from tax record: −$340 /mo · $4,085/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $292

Break-even live

Break-even rent $1,398

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $368	-5% $330	+0% $292	+5% $253	+10% $215
Rent	-10% $152	-5% $222	+0% $292	+5% $361	+10% $431
Rate	-1.0pp $360	-0.5pp $326	base $292	+0.5pp $257	+1.0pp $221

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.52mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	45d	1	0.63mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.80mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.81mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.84mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	21d	1	0.88mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	5d	1	0.89mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	45d	1	1.17mi

Listing history 26 events

1. 2026-06-21
   days on market $135,000 Active 117 DOM
2. 2026-06-18
   days on market $135,000 Active 114 DOM
3. 2026-06-17
   days on market $135,000 Active 113 DOM
4. 2026-06-15
   days on market $135,000 Active 111 DOM
5. 2026-06-13
   days on market $135,000 Active 109 DOM
6. 2026-06-13
   days on market $135,000 Active 108 DOM
7. 2026-06-09
   days on market $135,000 Active 105 DOM
8. 2026-06-08
   days on market $135,000 Active 104 DOM
9. 2026-06-07
   days on market $135,000 Active 103 DOM
10. 2026-06-04
    days on market $135,000 Active 100 DOM
11. 2026-06-03
    days on market $135,000 Active 99 DOM
12. 2026-06-01
    days on market $135,000 Active 97 DOM
13. 2026-05-31
    days on market $135,000 Active 96 DOM
14. 2026-03-12
    price $135,000 500-char remark

    Show marketing remark (500 chars)

    Solid 2-family flat in a convenient location just minutes from major freeways and popular shopping destinations. Both units are currently occupied, providing immediate rental income for investors. Property features spacious layouts with great potential and just needs a little TLC to truly shine. Great opportunity to add value and build equity in a high-demand area. Perfect for investors or owner-occupants seeking an income-producing property with upside. 48-hour notice required for all showings.

15. 2026-03-12
    price $135,000 500-char remark

    Show marketing remark (500 chars)

    Solid 2-family flat in a convenient location just minutes from major freeways and popular shopping destinations. Both units are currently occupied, providing immediate rental income for investors. Property features spacious layouts with great potential and just needs a little TLC to truly shine. Great opportunity to add value and build equity in a high-demand area. Perfect for investors or owner-occupants seeking an income-producing property with upside. 48-hour notice required for all showings.

16. 2026-02-21
    listed $150,000 Active 500-char remark

    Show marketing remark (500 chars)

    Solid 2-family flat in a convenient location just minutes from major freeways and popular shopping destinations. Both units are currently occupied, providing immediate rental income for investors. Property features spacious layouts with great potential and just needs a little TLC to truly shine. Great opportunity to add value and build equity in a high-demand area. Perfect for investors or owner-occupants seeking an income-producing property with upside. 48-hour notice required for all showings.

17. 2026-02-21
    listed $150,000 Active 500-char remark

    Show marketing remark (500 chars)

    Solid 2-family flat in a convenient location just minutes from major freeways and popular shopping destinations. Both units are currently occupied, providing immediate rental income for investors. Property features spacious layouts with great potential and just needs a little TLC to truly shine. Great opportunity to add value and build equity in a high-demand area. Perfect for investors or owner-occupants seeking an income-producing property with upside. 48-hour notice required for all showings.

18. 2014-08-31
    historical
19. 2014-05-20
    listed $30,000
20. 2011-10-20
    historical
21. 2011-05-13
    listed $50,000
22. 2008-01-04
    soldstatus $11,000
23. 2007-12-06
    historical
24. 2007-11-20
    listed $11,000
25. 2005-01-25
    soldstatus $70,000
26. 1993-02-25
    soldstatus $18,456

ⓘ 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: $4,085 · $340/mo
• Projected year-2 tax: $4,085 · $340/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: $21,208
• − Mortgage interest: −$7,562
• − Property taxes: −$4,085
• − Insurance: −$675
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$3,927
• Taxable income: $1,566
• Est. tax owed @ 24.0%: −$376
• After-tax cash flow: $3,124/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+631.5% since first listed

13 events — show timeline

• 2026-03-12 Price Changed $135,000 MiRealSource-MiMLS
• 2026-03-12 Price Changed $135,000 REALCOMP
• 2026-02-21 Listed $150,000 REALCOMP
• 2026-02-21 Listed $150,000 MiRealSource-MiMLS
• 2014-08-31 Listing Removed — MiRealSource-MiMLS
• 2014-05-20 Listed $30,000 MiRealSource-MiMLS
• 2011-10-20 Listing Removed — MiRealSource-MiMLS
• 2011-05-13 Listed $50,000 MiRealSource-MiMLS
• 2008-01-04 Sold (MLS) $11,000 MiRealSource-MiMLS
• 2007-12-06 Listing Removed — MiRealSource-MiMLS
• 2007-11-20 Listed $11,000 MiRealSource-MiMLS
• 2005-01-25 Sold (Public Records) $70,000 Public Records
• 1993-02-25 Sold (Public Records) $18,456 Public Records

Property tax history

+10.9%/yr

Latest (2025): $4,085 · -53.1% YoY. Source: county tax records.