5865 Seneca St · Detroit, MI 48213

$32,900

4 bd · 1.5 ba · 1,553 sqft · SingleFamily public records · 91 Days on market

Built 1909 3,485 sqft lot $21/sqft · 12% below area Est $37k · 12% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +12.7/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this spacious 2-story duplex offering 1,553 sq ft of total living space in the heart of Detroit’s East Side. Each level features 2 bedrooms, 1 bath, a bright living room, and a full kitchen — ideal for generating rental income or multi-family living. Classic Detroit architecture meets opportunity here: solid bones, generous layout, and a backyard waiting to be personalized. Whether you’re an investor or an owner-occupant, this property delivers flexibility, function, and value.

Key facts

• Full kitchen
• Spacious duplex
• Generous layout

Tags

• SPACIOUS DUPLEX
• BRIGHT LIVING ROOM
• FULL KITCHEN
• GENEROUS LAYOUT
• BACKYARD WAITING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $30k (9.0% below list) — sets the bar for market timing.
• Cap rate 38.6% vs local median 10.0% 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: 192 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $1,401/mo this rent would consume 49% 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 $227 of loan paydown is wiped out by about $987 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,939 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1909 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.26% ✓
• Cap rate: 38.55%
• Cash-on-cash: 115.21%
• DSCR: 6.13
• GRM: 2.0

CMA / ARV

• ARV (median comp): $37,188
• List price: $32,900
• Delta: -11.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5360 Burns St	0.29mi	4/1.0	1,664 (+7%)	4mo	$60,000	$36	69
5950 Seminole St	0.12mi	4/1.0	1,424 (-8%)	17mo	$101,000	$71	64
5326 Belvidere St	0.50mi	4/1.5	1,469 (-5%)	5mo	$82,500	$56	63
5730 Field St	0.55mi	4/2.0	1,476 (-5%)	3mo	$15,000	$10	62
5171 Burns St	0.37mi	3/1.0 (-1)	1,425 (-8%)	3mo	$20,000	$14	59
5302 Crane St	0.39mi	5/2.0 (+1)	1,423 (-8%)	2mo	$107,000	$75	59
5406 Iroquois St	0.24mi	4/1.0	1,371 (-12%)	11mo	$80,000	$58	58
5239 Crane St	0.39mi	3/1.0 (-1)	1,404 (-10%)	4mo	$24,500	$17	55
5115 Seyburn St	0.54mi	3/1.0 (-1)	1,400 (-10%)	8mo	$15,000	$11	45
5014 Townsend St	0.67mi	3/1.0 (-1)	1,388 (-11%)	8mo	$10,000	$7	38
5815 & 5819 Cadillac Ave	0.65mi	4/2.0	1,774 (+14%)	9mo	$65,217	$37	37
8901 Isham Ave	0.71mi	3/1.0 (-1)	1,380 (-11%)	17mo	$35,000	$25	27

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: —
• Equity multiple: 6.54×
• Total profit: $51,019
• Equity at exit: $4,905

10-year hold

• IRR: —
• Equity multiple: 13.70×
• Total profit: $117,036
• Equity at exit: $2,845

Cash invested: $9,212 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$173
• Tax from tax record: −$36 /mo · $436/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $884

Break-even live

Break-even rent $282

Max offer price $32,900

Occupancy floor 32%

Sensitivity live

Price	-10% $903	-5% $894	+0% $884	+5% $875	+10% $866
Rent	-10% $774	-5% $829	+0% $884	+5% $940	+10% $995
Rate	-1.0pp $901	-0.5pp $893	base $884	+0.5pp $876	+1.0pp $867

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	19d	1	0.03mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	26d	1	0.62mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	19d	1	0.64mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	19d	1	0.70mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	45d	1	0.90mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	26d	1	0.98mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	19d	1	1.10mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	45d	1	1.27mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	45d	1	1.29mi
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	45d	1	1.43mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	45d	1	1.44mi

Listing history 23 events

1. 2026-06-21
   days on market $32,900 Active 91 DOM
2. 2026-06-18
   days on market $32,900 Active 88 DOM
3. 2026-06-17
   days on market $32,900 Active 87 DOM
4. 2026-06-15
   days on market $32,900 Active 85 DOM
5. 2026-06-13
   days on market $32,900 Active 83 DOM
6. 2026-06-13
   days on market $32,900 Active 82 DOM
7. 2026-06-09
   days on market $32,900 Active 79 DOM
8. 2026-06-08
   days on market $32,900 Active 78 DOM
9. 2026-06-07
   days on market $32,900 Active 77 DOM
10. 2026-06-04
    days on market $32,900 Active 74 DOM
11. 2026-06-03
    days on market $32,900 Active 73 DOM
12. 2026-06-01
    days on market $32,900 Active 71 DOM
13. 2026-05-31
    days on market $32,900 Active 70 DOM
14. 2026-03-22
    listed $32,900 Active 510-char remark

    Show marketing remark (494 chars)

    Step into this spacious 2-story duplex offering 1,553 sq ft of total living space in the heart of Detroit's East Side. Each level features 2 bedrooms, 1 bath, a bright living room, and a full kitchen - ideal for generating rental income or multi-family living. Classic Detroit architecture meets opportunity here: solid bones, generous layout, and a backyard waiting to be personalized. Whether you're an investor or an owner-occupant, this property delivers flexibility, function, and value.

15. 2026-03-22
    listed $32,900 Active 494-char remark

    Show marketing remark (494 chars)

    Step into this spacious 2-story duplex offering 1,553 sq ft of total living space in the heart of Detroit's East Side. Each level features 2 bedrooms, 1 bath, a bright living room, and a full kitchen - ideal for generating rental income or multi-family living. Classic Detroit architecture meets opportunity here: solid bones, generous layout, and a backyard waiting to be personalized. Whether you're an investor or an owner-occupant, this property delivers flexibility, function, and value.

16. 2026-01-01
    historical
17. 2026-01-01
    historical
18. 2025-11-23
    price $49,900
19. 2025-11-22
    price $49,900
20. 2025-10-19
    listed $69,900 Active
21. 2025-10-19
    listed $69,900 Active
22. 2006-06-21
    soldstatus $60,000
23. 2002-06-07
    soldstatus $30,500

ⓘ 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: $436 · $36/mo
• Projected year-2 tax: $471 · $39/mo
• Expected delta: +$35/yr (+$3/mo · 8.1%)

ⓘ 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: $16,815
• − Mortgage interest: −$1,843
• − Property taxes: −$436
• − Insurance: −$164
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$957
• Taxable income: $10,725
• Est. tax owed @ 24.0%: −$2,574
• After-tax cash flow: $8,040/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

+7.9% since first listed

10 events — show timeline

• 2026-03-22 Listed $32,900 REALCOMP
• 2026-03-22 Listed $32,900 MiRealSource-MiMLS
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2026-01-01 Listing Removed — REALCOMP
• 2025-11-23 Price Changed $49,900 MiRealSource-MiMLS
• 2025-11-22 Price Changed $49,900 REALCOMP
• 2025-10-19 Listed $69,900 REALCOMP
• 2025-10-19 Listed $69,900 MiRealSource-MiMLS
• 2006-06-21 Sold (Public Records) $60,000 Public Records
• 2002-06-07 Sold (Public Records) $30,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $436 · -52.2% YoY. Source: county tax records.