7250 Saint Paul St · Detroit, MI 48214

$80,000

2 bd · 1.5 ba · 1,302 sqft · Condo · 237 Days on market

Built 1910 Poor condition

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.3/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brick Condo Opportunity in the Islandview Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this Brick Condo in the Islandview neighborhood of Detroit. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

Key facts

• Built 1910
• Listed 237 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% 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: 298 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 $1,773/mo this rent would consume 63% of the median local household income ($34k/yr) (locally 1364% 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 $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.22% ✓
• Cap rate: 19.01%
• Cash-on-cash: 45.42%
• DSCR: 3.02
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 42.6%
• Equity multiple: 2.83×
• Total profit: $41,059
• Equity at exit: $11,928

10-year hold

• IRR: 48.7%
• Equity multiple: 5.70×
• Total profit: $105,389
• Equity at exit: $6,917

Cash invested: $22,400 (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 48214

• Active inventory: 298
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,773 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $848

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 47%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
374 E Grand Blvd Unit 2A Detroit, MI	2.0	2.0	1450	$2,750	$1.90	43d	1	0.06mi
1454 Townsend St #101 Detroit, MI	2.0	2.0	1268	$2,500	$1.97	3d	1	0.17mi
7410 Kercheval Ave Unit 212 Detroit, MI	2.0	2.0	1017	$1,950	$1.92	43d	1	0.17mi
625 Field St Detroit, MI	3.0	1.5	900	$882	$0.98	17d	1	0.34mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	17d	1	0.42mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	1d	3	0.43mi
7700 E Jefferson Ave Detroit, MI	2.0	1.0	877	$1,795	$2.05	43d	1	0.51mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	0.58mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1181	$1,500	$1.27	24d	3	0.58mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1094	$1,500	$1.37	17d	2	0.58mi
6533 E Jefferson Ave #421 Detroit, MI	2.0	1.0	1063	$2,200	$2.07	15d	1	0.58mi
1440 Robert Bradby Dr Detroit, MI	2.0	2.0	1250	$1,472	$1.18	43d	1	0.64mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$1,712	$1.57	19d	20	0.65mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	0.74mi
200 Mount Elliott St Detroit, MI	1.0	1.0	1050	$2,000	$1.90	43d	1	0.80mi
8845 E Jefferson Apt 208 Detroit, MI	2.0	1.5	992	$1,635	$1.65	43d	1	0.92mi
8845 E Jefferson Ave Unit 207 Detroit, MI	2.0	1.5	1500	$1,695	$1.13	43d	1	0.93mi
8845 E Jefferson Ave Unit 205 Detroit, MI	2.0	1.5	960	$1,425	$1.48	43d	1	0.93mi
8845 E Jefferson Ave Unit 203 Detroit, MI	2.0	1.5	1024	$1,515	$1.48	43d	1	0.93mi
8845 E Jefferson Ave Unit 302 Detroit, MI	2.0	2.0	885	$1,460	$1.65	43d	1	0.93mi
8845 E Jefferson Ave Unit 204 Detroit, MI	2.0	1.5	1150	$2,350	$2.04	43d	1	0.93mi
8845 E Jefferson Ave Unit 206 Detroit, MI	2.0	1.5	1230	$1,660	$1.35	43d	1	0.93mi
8925 E Jefferson Ave Detroit, MI	1.0–2.0	1.0–2.0	1050	$1,945	$1.85	43d	9	0.96mi
3500 E Jefferson Detroit, MI	1.0–2.0	1.0–2.0	1012	$2,560	$2.53	1d	5	0.99mi
2928 Prince Hall Dr Detroit, MI	2.0	2.0	1425	$2,000	$1.40	5d	1	1.08mi
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	43d	1	1.08mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	43d	1	1.11mi
3755 Ellery St Unit 1 Detroit, MI	2.0	1.0	915	$1,200	$1.31	24d	1	1.17mi
3325 Gratiot Ave Unit R Detroit, MI	2.0	1.0	1200	$1,000	$0.83	43d	1	1.23mi
3323 Gratiot Ave Unit R Detroit, MI	2.0	1.0	1200	$975	$0.81	43d	1	1.23mi
1941 Chene Ct Detroit, MI	1.0–2.0	1.0–2.0	795	$1,200	$1.51	12d	4	1.23mi
2001 Chene St Detroit, MI	2.0	1.0	950	$1,069	$1.13	43d	1	1.26mi
500 River Pl Dr Detroit, MI	1.0–3.0	1.0–2.0	950	$1,625	$1.71	43d	1	1.29mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	23d	1	1.35mi
2280 E Vernor Hwy Detroit, MI	1.0–3.0	1.0–2.0	872	$919	$1.05	20d	1	1.41mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2025-11-04
   status Active 927-char remark

   Show marketing remark (927 chars)

   Brick Condo Opportunity in the Islandview Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this Brick Condo in the Islandview neighborhood of Detroit. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

2. 2025-11-03
   historical 927-char remark

   Show marketing remark (927 chars)

   Brick Condo Opportunity in the Islandview Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this Brick Condo in the Islandview neighborhood of Detroit. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

3. 2025-09-27
   listed $80,000 Active 940-char remark

   Show marketing remark (927 chars)

   Brick Condo Opportunity in the Islandview Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this Brick Condo in the Islandview neighborhood of Detroit. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

4. 2025-09-27
   listed $80,000 Active 927-char remark

   Show marketing remark (927 chars)

   Brick Condo Opportunity in the Islandview Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this Brick Condo in the Islandview neighborhood of Detroit. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

5. 2025-09-26
   historical $80,000 940-char remark

   Show marketing remark (940 chars)

   Brick Condo Opportunity in the Islandview Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this Brick Condo in the Islandview neighborhood of Detroit. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $21,276
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$2,327
• Taxable income: $9,463
• Est. tax owed @ 24.0%: −$2,271
• After-tax cash flow: $7,902/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including structural repairs, exterior landscaping, and interior updates to improve its resale and rental value.

Repairs flagged

• Major Exposed brick walls — Structural integrity and aesthetic
• Major Exposed concrete flooring — Safety hazard and aesthetic
• Major Exposed HVAC/mechanicals — Safety hazard and functionality
• Major Overgrown vegetation — Safety hazard and aesthetic

Value-add opportunities

• Both Exterior landscaping — Enhances curb appeal and property value
• Both HVAC system — Improves comfort and energy efficiency
• Both Kitchen and bath fixtures — Enhances functionality and aesthetic
• Both Paint and wall repairs — Improves aesthetics and safety
• Both Flooring — Enhances safety and aesthetic

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed brick walls · Structural integrity and aesthetic	Major	$15,000–50,000
Exposed concrete flooring · Safety hazard and aesthetic	Major	$15,000–50,000
Exposed HVAC/mechanicals · Safety hazard and functionality	Major	$15,000–50,000
Overgrown vegetation · Safety hazard and aesthetic	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Exterior landscaping — Enhances curb appeal and property value ↑
• Both HVAC system — Improves comfort and energy efficiency ↑
• Both Kitchen and bath fixtures — Enhances functionality and aesthetic ↑
• Both Paint and wall repairs — Improves aesthetics and safety ↑
• Both Flooring — Enhances safety and aesthetic ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

+0.0% since first listed

5 events — show timeline

• 2025-11-04 Relisted — REALCOMP
• 2025-11-03 Listing Removed — REALCOMP
• 2025-09-27 Listed $80,000 MiRealSource-MiMLS
• 2025-09-27 Listed $80,000 REALCOMP
• 2025-09-26 Coming Soon $80,000 MiRealSource-MiMLS