10011 Belleterre St · Detroit, MI 48204

$20,000

16 bd · 3.5 ba · 3,200 sqft · Townhouse public records · 553 Days on market

Built 1924 3,049 sqft lot $6/sqft · 82% below area ↓ 33% since listing

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Welcome to the latest offering from the Detroit land Bank Authority. 4 unit consisting of 1 bedroom each. All brick structure needing total rehab. Show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

Key facts

• 3,049 sq ft lot
• Built 1924
• Listed 553 days

What this means for you Summary

Snapshot

• This is a 16-bed/3.5-bath townhouse listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 74.1% 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: 244 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,594/mo this rent would consume 56% 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 $2k of equity ($138 loan paydown + $2k 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 553 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 553 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. 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. 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 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: 7.97% ✓
• Cap rate: 74.14%
• Cash-on-cash: 242.31%
• DSCR: 11.78
• GRM: 1.0

CMA / ARV

• ARV (median comp): $109,449
• List price: $20,000
• Delta: -81.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 15.81×
• Total profit: $82,930
• Equity at exit: $18,018

10-year hold

• IRR: —
• Equity multiple: 34.50×
• Total profit: $187,616
• Equity at exit: $38,856

Cash invested: $5,600 (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: 1.0×

Monthly cashflow live

• Estimated rent: $1,594 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$15 /mo · $185/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $1,131

Break-even live

Break-even rent $163

Max offer price $20,000

Occupancy floor 24%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $20,000 Active 553 DOM
2. 2026-06-17
   days on market $20,000 Active 552 DOM
3. 2026-06-15
   days on market $20,000 Active 550 DOM
4. 2026-06-13
   days on market $20,000 Active 548 DOM
5. 2026-06-13
   days on market $20,000 Active 547 DOM
6. 2026-06-09
   days on market $20,000 Active 544 DOM
7. 2026-06-08
   days on market $20,000 Active 543 DOM
8. 2026-06-07
   days on market $20,000 Active 542 DOM
9. 2026-06-04
   days on market $20,000 Active 539 DOM
10. 2026-06-03
    days on market $20,000 Active 538 DOM
11. 2026-06-01
    days on market $20,000 Active 536 DOM
12. 2026-05-31
    days on market $20,000 Active 535 DOM
13. 2025-04-17
    status Active 769-char remark

    Show marketing remark (769 chars)

    Welcome to the latest offering from the Detroit land Bank Authority. 4 unit consisting of 1 bedroom each. All brick structure needing total rehab. Show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

14. 2025-04-17
    historical 769-char remark

    Show marketing remark (769 chars)

    Welcome to the latest offering from the Detroit land Bank Authority. 4 unit consisting of 1 bedroom each. All brick structure needing total rehab. Show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

15. 2024-12-12
    listed $20,000 Active 769-char remark

    Show marketing remark (769 chars)

    Welcome to the latest offering from the Detroit land Bank Authority. 4 unit consisting of 1 bedroom each. All brick structure needing total rehab. Show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

16. 2024-12-12
    listed $20,000 Active 769-char remark

    Show marketing remark (769 chars)

    Welcome to the latest offering from the Detroit land Bank Authority. 4 unit consisting of 1 bedroom each. All brick structure needing total rehab. Show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

17. 2016-08-31
    historical
18. 2016-06-09
    historical
19. 2016-05-20
    status Pending
20. 2016-05-11
    historical
21. 2016-02-10
    status Pending
22. 2016-02-01
    historical
23. 2016-02-01
    historical
24. 2016-01-24
    listed $22,500
25. 2016-01-24
    listed $22,500 Active
26. 2015-05-06
    listed $29,900

ⓘ 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: $185 · $15/mo
• Projected year-2 tax: $247 · $21/mo
• Expected delta: +$61/yr (+$5/mo · 33.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $19,131
• − Mortgage interest: −$1,120
• − Property taxes: −$185
• − Insurance: −$100
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$582
• Taxable income: $14,082
• Est. tax owed @ 24.0%: −$3,380
• After-tax cash flow: $10,189/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

-33.1% since first listed

14 events — show timeline

• 2025-04-17 Relisted — REALCOMP
• 2025-04-17 Listing Removed — REALCOMP
• 2024-12-12 Listed $20,000 MiRealSource-MiMLS
• 2024-12-12 Listed $20,000 REALCOMP
• 2016-08-31 Listing Removed — MiRealSource-MiMLS
• 2016-06-09 Listing Removed — REALCOMP
• 2016-05-20 Pending — REALCOMP
• 2016-05-11 Listing Removed — REALCOMP
• 2016-02-10 Pending — REALCOMP
• 2016-02-01 Listing Removed — MiRealSource-MiMLS
• 2016-02-01 Listing Removed — MiRealSource-MiMLS
• 2016-01-24 Listed $22,500 MiRealSource-MiMLS
• 2016-01-24 Listed $22,500 REALCOMP
• 2015-05-06 Listed $29,900 MiRealSource-MiMLS

Property tax history

-17.0%/yr

Latest (2025): $185 · +0.0% YoY. Source: county tax records.