4094 W Euclid St · Detroit, MI 48204

$115,500

6 bd · 2.5 ba · 2,416 sqft · Townhouse public records · 32 Days on market

Built 1916 3,485 sqft lot $48/sqft · 40% below area Est $192k · 40% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

Great investment opportunity in Detroit! This spacious 6-bedroom, 2 full bathroom property offers 2,416 sq ft of living space with endless potential for investors or owner-occupants alike. Recent updates include new luxury vinyl plank flooring, fresh carpet, and new paint throughout, making it move-in ready while still leaving room to add value. The home also features an additional 899 sq ft of unfinished basement space, ideal for storage or future expansion possibilities. Conveniently located with easy access to major freeways, shopping, dining, and downtown Detroit entertainment. Just minutes from local attractions including Midtown Detroit, the Detroit Historical Museum, Michigan Science Center, Campus Martius Park, and the Detroit Riverfront. Enjoy nearby parks, restaurants, sports venues, nightlife, and all the culture and energy Detroit has to offer. A strong opportunity to add to your investment portfolio in a growing area of the city!

Key facts

• 3,485 sq ft lot
• Built 1916
• Listed 31 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Ground-level entry
• Construction: Brick construction; Brick/mortar foundation; 2,416 square feet above-grade finished area
• Exterior features: Paved road access; Lot dimensions approximately 35 x 104 (0.08 acres)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Has unfinished basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $116k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 10.0% 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: 248 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $1,816/mo this rent would consume 63% 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 $12k of equity ($799 loan paydown + $12k 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 $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 18y ago; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; list at $116k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,035 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.57% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.29%
• DSCR: 1.95
• GRM: 5.3

CMA / ARV

• ARV (median comp): $192,263
• List price: $115,500
• Delta: -33.42%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 40.2%
• Equity multiple: 4.08×
• Total profit: $99,516
• Equity at exit: $104,052

10-year hold

• IRR: 34.7%
• Equity multiple: 9.18×
• Total profit: $264,451
• Equity at exit: $224,391

Cash invested: $32,340 (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: 248
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,816 medium
• Mortgage (P&I): −$606
• Tax from tax record: −$207 /mo · $2,484/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $574

Break-even live

Break-even rent $1,090

Max offer price $115,500

Occupancy floor 63%

Sensitivity live

Price	-10% $639	-5% $607	+0% $574	+5% $541	+10% $508
Rent	-10% $430	-5% $502	+0% $574	+5% $646	+10% $717
Rate	-1.0pp $632	-0.5pp $603	base $574	+0.5pp $544	+1.0pp $513

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	18d	1	0.09mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	11d	1	0.78mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	16d	1	0.92mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	4d	1	1.11mi

Listing history 50 events

1. 2026-06-21
   days on market $115,500 Active 32 DOM
2. 2026-06-18
   days on market $115,500 Active 29 DOM
3. 2026-06-17
   days on market $115,500 Active 28 DOM
4. 2026-06-15
   pricedays on market $115,500 Active 26 DOM
5. 2026-06-13
   days on market $128,000 Active 24 DOM
6. 2026-06-13
   days on market $128,000 Active 23 DOM
7. 2026-06-09
   days on market $128,000 Active 20 DOM
8. 2026-06-08
   days on market $128,000 Active 19 DOM
9. 2026-06-07
   days on market $128,000 Active 18 DOM
10. 2026-06-04
    days on market $128,000 Active 15 DOM
11. 2026-06-03
    days on market $128,000 Active 14 DOM
12. 2026-06-02
    days on market $128,000 Active 13 DOM
13. 2026-06-01
    days on market $128,000 Active 12 DOM
14. 2026-05-31
    days on market $128,000 Active 11 DOM
15. 2026-05-08
    historical
16. 2026-05-08
    historical
17. 2026-04-03
    price $128,000
18. 2026-04-02
    price $128,000
19. 2026-03-31
    listed $125,000 Active
20. 2026-03-31
    listed $125,000 Active
21. 2024-03-25
    soldstatus $71,400
22. 2024-03-22
    soldstatus $71,400 Sold
23. 2024-03-22
    soldstatus $71,400 Sold
24. 2024-03-22
    soldstatus $71,400 Closed
25. 2024-03-22
    soldstatus $71,400 Closed
26. 2024-02-19
    status Pending
27. 2024-02-19
    status Pending
28. 2024-02-19
    status Pending
29. 2024-02-19
    status Pending
30. 2024-01-27
    historical Accepting Backup Offers
31. 2024-01-27
    historical Accepting Backup Offers
32. 2024-01-27
    historical Accepting Backup Offers
33. 2024-01-27
    historical Accepting Backup Offers
34. 2023-12-07
    price $70,000
35. 2023-12-07
    price $70,000
36. 2023-12-07
    price $70,000
37. 2023-12-07
    price $70,000
38. 2023-11-06
    status Active
39. 2023-11-06
    status Active
40. 2023-10-23
    status Pending
41. 2023-10-23
    status Pending
42. 2023-09-19
    price $74,900
43. 2023-09-19
    price $74,900
44. 2023-09-18
    price $74,900
45. 2023-09-18
    price $74,900
46. 2023-09-08
    price $79,900
47. 2023-09-08
    price $79,900
48. 2023-09-07
    price $79,900
49. 2023-09-07
    price $79,900
50. 2023-08-22
    price $89,900

ⓘ 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: $2,484 · $207/mo
• Projected year-2 tax: $2,484 · $207/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: $21,792
• − Mortgage interest: −$6,470
• − Property taxes: −$2,484
• − Insurance: −$578
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − Depreciation: −$3,360
• Taxable income: $5,414
• Est. tax owed @ 24.0%: −$1,299
• After-tax cash flow: $5,586/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

+110.0% since first listed

71 events — show timeline

• 2026-06-14 Price Changed $115,500 REALCOMP
• 2026-06-12 Price Changed $115,500 MiRealSource-MiMLS
• 2026-05-21 Listed $128,000 MiRealSource-MiMLS
• 2026-05-21 Listed $128,000 REALCOMP
• 2026-05-20 Coming Soon $128,000 MiRealSource-MiMLS
• 2026-05-08 Listing Removed — MiRealSource-MiMLS
• 2026-05-08 Listing Removed — REALCOMP
• 2026-04-03 Price Changed $128,000 MiRealSource-MiMLS
• 2026-04-02 Price Changed $128,000 REALCOMP
• 2026-03-31 Listed $125,000 MiRealSource-MiMLS
• 2026-03-31 Listed $125,000 REALCOMP
• 2024-03-25 Sold (Public Records) $71,400 Public Records
• 2024-03-22 Sold (MLS) $71,400 MiRealSource-MiMLS
• 2024-03-22 Sold (MLS) $71,400 MiRealSource-MiMLS
• 2024-03-22 Sold (MLS) $71,400 REALCOMP
• 2024-03-22 Sold (MLS) $71,400 REALCOMP
• 2024-02-19 Pending — MiRealSource-MiMLS
• 2024-02-19 Pending — MiRealSource-MiMLS
• 2024-02-19 Pending — REALCOMP
• 2024-02-19 Pending — REALCOMP
• 2024-01-27 Contingent — MiRealSource-MiMLS
• 2024-01-27 Contingent — MiRealSource-MiMLS
• 2024-01-27 Contingent — REALCOMP
• 2024-01-27 Contingent — REALCOMP
• 2023-12-07 Price Changed $70,000 MiRealSource-MiMLS
• 2023-12-07 Price Changed $70,000 MiRealSource-MiMLS
• 2023-12-07 Price Changed $70,000 REALCOMP
• 2023-12-07 Price Changed $70,000 REALCOMP
• 2023-11-06 Relisted — MiRealSource-MiMLS
• 2023-11-06 Relisted — REALCOMP
• 2023-10-23 Pending — MiRealSource-MiMLS
• 2023-10-23 Pending — REALCOMP
• 2023-09-19 Price Changed $74,900 MiRealSource-MiMLS
• 2023-09-19 Price Changed $74,900 MiRealSource-MiMLS
• 2023-09-18 Price Changed $74,900 REALCOMP
• 2023-09-18 Price Changed $74,900 REALCOMP
• 2023-09-08 Price Changed $79,900 MiRealSource-MiMLS
• 2023-09-08 Price Changed $79,900 MiRealSource-MiMLS
• 2023-09-07 Price Changed $79,900 REALCOMP
• 2023-09-07 Price Changed $79,900 REALCOMP
• 2023-08-22 Price Changed $89,900 MiRealSource-MiMLS
• 2023-08-22 Price Changed $89,900 MiRealSource-MiMLS
• 2023-08-22 Price Changed $89,900 REALCOMP
• 2023-08-22 Price Changed $89,900 REALCOMP
• 2023-08-22 Relisted — REALCOMP
• 2023-08-22 Relisted — MiRealSource-MiMLS
• 2023-08-22 Relisted — MiRealSource-MiMLS
• 2023-08-22 Relisted — REALCOMP
• 2023-08-11 Listing Removed — MiRealSource-MiMLS
• 2023-08-11 Listing Removed — MiRealSource-MiMLS
• 2023-08-11 Listing Removed — REALCOMP
• 2023-08-11 Listing Removed — REALCOMP
• 2023-06-13 Listed $99,900 MiRealSource-MiMLS
• 2023-06-13 Listed $99,900 REALCOMP
• 2023-05-31 Relisted — MiRealSource-MiMLS
• 2023-05-31 Relisted — REALCOMP
• 2023-05-27 Contingent — REALCOMP
• 2023-05-27 Contingent — MiRealSource-MiMLS
• 2023-05-09 Relisted — MiRealSource-MiMLS
• 2023-05-09 Relisted — REALCOMP
• 2023-05-09 Listing Removed — MiRealSource-MiMLS
• 2023-05-09 Listing Removed — REALCOMP
• 2023-05-04 Listed $99,900 MiRealSource-MiMLS
• 2023-05-04 Listed $99,900 REALCOMP
• 2023-05-02 Coming Soon $99,900 MiRealSource-MiMLS
• 2023-05-02 Coming Soon $99,900 REALCOMP
• 2009-03-25 Sold (MLS) $4,700 REALCOMP
• 2008-10-31 Listed $9,600 REALCOMP
• 2008-09-26 Listed $12,000 REALCOMP
• 2004-10-01 Sold (Public Records) $80,000 Public Records
• 2003-09-17 Sold (Public Records) $55,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,484 · +52.2% YoY. Source: county tax records.