1497 Harding St · Detroit, MI 48214

$64,000

4 bd · 1.5 ba · 1,525 sqft · SingleFamily public records · 14 Days on market

Built 1909 5,227 sqft lot

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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
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

Key facts

• 5,227 sq ft lot
• Built 1909
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Cap rate 26.9% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,970/mo this rent would consume 70% 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 $442 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,000

Questions for the listing agent

1. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.08% ✓
• Cap rate: 26.93%
• Cash-on-cash: 73.69%
• DSCR: 4.28
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $155,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2170 Montclair St	0.21mi	3/2.0 (-1)	1,571 (+3%)	10mo	$162,900	$104	70
2918 Garland St	0.48mi	4/3.0	1,546 (+1%)	1mo	$205,000	$133	68
2931 Garland St	0.50mi	4/3.0	1,558 (+2%)	1mo	$215,000	$138	66
781 Lillibridge St	0.33mi	3/2.0 (-1)	1,567 (+3%)	20mo	$235,000	$150	56
2131 Harding St	0.15mi	3/2.5 (-1)	1,689 (+11%)	12mo	$325,000	$192	56
1534 Saint Clair St	0.05mi	3/1.0 (-1)	1,344 (-12%)	21mo	$38,000	$28	54
3054 Cadillac Blvd	0.66mi	3/1.0 (-1)	1,554 (+2%)	11mo	$159,000	$102	50
1297 Belvidere St	0.59mi	3/1.5 (-1)	1,479 (-3%)	20mo	$125,000	$85	46
1451 Bewick St	0.21mi	3/1.0 (-1)	1,334 (-12%)	21mo	$10,000	$7	45
9385 Dorchester St	0.58mi	3/2.0 (-1)	1,311 (-14%)	6mo	$18,000	$14	38
2247 Belvidere St	0.63mi	3/1.5 (-1)	1,625 (+7%)	21mo	$160,000	$98	37
3466 Bewick St	0.73mi	3/2.0 (-1)	1,308 (-14%)	6mo	$119,900	$92	30

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: 73.5%
• Equity multiple: 4.33×
• Total profit: $59,752
• Equity at exit: $9,543

10-year hold

• IRR: 77.3%
• Equity multiple: 8.95×
• Total profit: $142,430
• Equity at exit: $5,534

Cash invested: $17,920 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$336
• Tax from tax record: −$93 /mo · $1,119/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $1,100

Break-even live

Break-even rent $577

Max offer price $64,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,137	-5% $1,119	+0% $1,100	+5% $1,082	+10% $1,064
Rent	-10% $945	-5% $1,023	+0% $1,100	+5% $1,178	+10% $1,256
Rate	-1.0pp $1,133	-0.5pp $1,117	base $1,100	+0.5pp $1,084	+1.0pp $1,067

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	20d	20	1.23mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.27mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	18d	1	1.29mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	1.38mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	25d	1	1.39mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	44d	1	1.49mi

Listing history 7 events

1. 2024-12-17
   status Pending
2. 2022-10-03
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

3. 2022-10-03
   status Pending

   Show marketing remark (506 chars)

   Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

4. 2022-09-20
   listed $64,000 Active 506-char remark

   Show marketing remark (506 chars)

   Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

5. 2022-09-20
   listed $64,000 Active

   Show marketing remark (506 chars)

   Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

6. 2022-09-19
   historical $64,000 506-char remark

   Show marketing remark (506 chars)

   Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

7. 2022-09-19
   historical $64,000

   Show marketing remark (506 chars)

   Welcome to this very desirable investment opportunity. This 4 bedroom, one and a half bathroom spacious colonial is ready for the next owner/investor to add their special touch and enjoy instant equity or cash flow with excellent profit margins and potential based on the comparable properties that sold very recently within one mile at higher price points. The property is in solid shape and will mostly need cosmetic changes only. Do not miss the opportunity to make it your own and enjoy instant profit!

ⓘ 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: $1,119 · $93/mo
• Projected year-2 tax: $1,119 · $93/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 ≥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: $23,634
• − Mortgage interest: −$3,585
• − Property taxes: −$1,119
• − Insurance: −$320
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$1,862
• Taxable income: $12,967
• Est. tax owed @ 24.0%: −$3,112
• After-tax cash flow: $10,093/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): 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

7 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2022-10-03 Pending — MiRealSource-MiMLS
• 2022-10-03 Pending — REALCOMP
• 2022-09-20 Listed $64,000 MiRealSource-MiMLS
• 2022-09-20 Listed $64,000 REALCOMP
• 2022-09-19 Coming Soon $64,000 MiRealSource-MiMLS
• 2022-09-19 Coming Soon $64,000 REALCOMP

Property tax history

+8.7%/yr

Latest (2025): $1,119 · -55.2% YoY. Source: county tax records.