16565 Kentucky St · Detroit, MI 48221

$65,900

4 bd · 1.5 ba · 1,976 sqft · Townhouse public records · 61 Days on market

Built 1928 4,792 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 +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

Key facts

• 4,792 sq ft lot
• Built 1928
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $66k.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $66k).
• Recommended offer: $62k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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: Rents rising (+3.4%/yr); 349 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 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 + 3.4% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,946 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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: 2.45% ✓
• Cap rate: 21.23%
• Cash-on-cash: 53.34%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 51.9%
• Equity multiple: 3.29×
• Total profit: $42,300
• Equity at exit: $9,826

10-year hold

• IRR: 57.4%
• Equity multiple: 6.81×
• Total profit: $107,169
• Equity at exit: $5,698

Cash invested: $18,452 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,615 high
• Mortgage (P&I): −$346
• Tax est. 1.5%: −$82 /mo · $988/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $820

Break-even live

Break-even rent $576

Max offer price $65,900

Occupancy floor 44%

Sensitivity live

Price	-10% $866	-5% $843	+0% $820	+5% $797	+10% $775
Rent	-10% $693	-5% $756	+0% $820	+5% $884	+10% $948
Rate	-1.0pp $853	-0.5pp $837	base $820	+0.5pp $803	+1.0pp $786

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: $16,475
• Closing costs: $1,977
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.11mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	45d	1	0.12mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	45d	1	0.17mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	19d	1	0.23mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	21d	1	0.29mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.45mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	6d	1	0.54mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	19d	1	0.61mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.62mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.66mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	45d	1	0.77mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	45d	1	0.83mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	19d	1	0.84mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	6d	1	1.18mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	45d	1	1.23mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	1.24mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	1.43mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	1.47mi

Listing history 11 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-01-24
   status Pending 189-char remark

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

5. 2022-01-24
   status Pending

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

6. 2021-11-29
   status Active 189-char remark

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

7. 2021-11-29
   status Active

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

8. 2021-11-23
   status Pending 189-char remark

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

9. 2021-11-23
   status Pending

   Show marketing remark (189 chars)

   A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

10. 2021-11-18
    listed $65,900 Active

    Show marketing remark (189 chars)

    A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

11. 2021-11-18
    listed $65,900 Active 189-char remark

    Show marketing remark (189 chars)

    A $495 compliance fee to be paid by the purchaser to broker at closing. Purchaser to assume all and any property taxes and water bill, if any. BATAI. Property being sold in as is condition.

ⓘ 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 ≥97°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: $19,376
• − Mortgage interest: −$3,691
• − Property taxes: −$988
• − Insurance: −$330
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − Depreciation: −$1,917
• Taxable income: $9,349
• Est. tax owed @ 24.0%: −$2,244
• After-tax cash flow: $7,598/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

11 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-01-24 Pending — MiRealSource-MiMLS
• 2022-01-24 Pending — REALCOMP
• 2021-11-29 Relisted — MiRealSource-MiMLS
• 2021-11-29 Relisted — REALCOMP
• 2021-11-23 Pending — MiRealSource-MiMLS
• 2021-11-23 Pending — REALCOMP
• 2021-11-18 Listed $65,900 MiRealSource-MiMLS
• 2021-11-18 Listed $65,900 REALCOMP

Property tax history

+10.6%/yr

Latest (2025): $4,682 · -53.3% YoY. Source: county tax records.