10400 Whittier St · Detroit, MI 48224

$500,000

288 bd · 256.0 ba · 10,222 sqft · MultiFamily · 28 Days on market

Built 1958 9,148 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 +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Value-add multifamily investment opportunity located at 10400 Whittier in Detroit. This 16-unit apartment building features a desirable unit mix of 14 one-bedroom units and 2 two-bedroom units. Currently approximately 40% occupied, the property offers significant upside through renovations, lease-up, improved operations, and rent stabilization. Ideal opportunity for an investor looking to add value and increase cash flow in Detroit's multifamily market. Property needs rehab and is being sold as-is. Buyer to verify all information, including unit count, occupancy, rents, expenses, and city requirements.

Key facts

• Property needs rehab
• Significant upside
• Improved operations

Tags

• 16 UNIT APARTMENT BUILDING
• DESIRABLE UNIT MIX
• SIGNIFICANT UPSIDE
• IMPROVED OPERATIONS
• RENT STABILIZATION
• PROPERTY NEEDS REHAB

Property features AI

Finance

• Other: Zoned for multi-family
• Financial info: Annual taxes reported

Exterior

• Utilities: Public water; Sewer available
• Home design: Multi-family residential income property; Two stories
• Construction: Brick construction; Slab foundation; Built area approximately 10,222 square feet
• Exterior features: Paved road access; Pets allowed with breed and size restrictions

Interior

• Bathrooms: 16 full bathrooms
• Heating & cooling: Baseboard heating; Electric heating; No central cooling
• Interior features: Baseboard and electric heating

What this means for you Summary

Snapshot

• This is a 14×1bd/1ba + 2×2bd/1ba units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $9k ($108k/yr) — positive. Per door: $564/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $500k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.9% 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: Rents flat; 484 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 $15,795/mo this rent would consume 423% of the median local household income ($45k/yr) (locally 2515% 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 $3k of loan paydown is wiped out by about $15k 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 + 0.7% rent growth), your $140k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $492,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 3.16% ✓
• Cap rate: 27.95%
• Cash-on-cash: 77.34%
• DSCR: 4.44
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 74.8%
• Equity multiple: 4.28×
• Total profit: $458,597
• Equity at exit: $74,552

10-year hold

• IRR: 77.9%
• Equity multiple: 8.16×
• Total profit: $1,001,952
• Equity at exit: $43,231

Cash invested: $140,000 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 42.5×

Monthly cashflow live

• Estimated rent: $15,795 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,317
• Net cashflow: $9,023

Break-even live

Break-even rent $4,374

Max offer price $500,000

Occupancy floor 38%

16-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	1	1	$13,720
▸ 2× units	2	1	$2,078
Total (16 units)			$15,795

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $500,000 Active 28 DOM
2. 2026-06-17
   days on market $500,000 Active 27 DOM
3. 2026-06-15
   days on market $500,000 Active 25 DOM
4. 2026-06-13
   days on market $500,000 Active 23 DOM
5. 2026-06-13
   days on market $500,000 Active 22 DOM
6. 2026-06-09
   days on market $500,000 Active 19 DOM
7. 2026-06-08
   days on market $500,000 Active 18 DOM
8. 2026-06-07
   days on market $500,000 Active 17 DOM
9. 2026-06-04
   days on market $500,000 Active 14 DOM
10. 2026-06-03
    days on market $500,000 Active 13 DOM
11. 2026-06-02
    days on market $500,000 Active 12 DOM
12. 2026-06-01
    days on market $500,000 Active 11 DOM
13. 2026-05-31
    days on market $500,000 Active 10 DOM
14. 2026-05-21
    listed $500,000 Active

    Show marketing remark (609 chars)

    Value-add multifamily investment opportunity located at 10400 Whittier in Detroit. This 16-unit apartment building features a desirable unit mix of 14 one-bedroom units and 2 two-bedroom units. Currently approximately 40% occupied, the property offers significant upside through renovations, lease-up, improved operations, and rent stabilization. Ideal opportunity for an investor looking to add value and increase cash flow in Detroit's multifamily market. Property needs rehab and is being sold as-is. Buyer to verify all information, including unit count, occupancy, rents, expenses, and city requirements.

15. 2026-05-21
    listed $500,000 Active 609-char remark

    Show marketing remark (609 chars)

    Value-add multifamily investment opportunity located at 10400 Whittier in Detroit. This 16-unit apartment building features a desirable unit mix of 14 one-bedroom units and 2 two-bedroom units. Currently approximately 40% occupied, the property offers significant upside through renovations, lease-up, improved operations, and rent stabilization. Ideal opportunity for an investor looking to add value and increase cash flow in Detroit's multifamily market. Property needs rehab and is being sold as-is. Buyer to verify all information, including unit count, occupancy, rents, expenses, and city requirements.

16. 2022-09-21
    soldstatus $660,000 Closed 214-char remark

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

17. 2022-09-21
    soldstatus $660,000

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

18. 2022-08-26
    status Pending 214-char remark

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

19. 2022-08-26
    status Active 214-char remark

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

20. 2022-07-15
    historical 214-char remark

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

21. 2022-05-14
    listed $800,000 Active 214-char remark

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

22. 2022-05-14
    listed $800,000

    Show marketing remark (214 chars)

    16 unit apartment complex for sale! Vacant. Rent ready. 2 two bed units, 14 one bed units. Private entrances! Large units. Updated. Make your offer today and full units with either cash or sec8 tenants right away.

23. 2018-01-16
    soldstatus $300,000
24. 2017-09-11
    listed $340,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $189,540
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$15,163
• − Management: −$15,163
• − Depreciation: −$14,545
• Taxable income: $106,660
• Est. tax owed @ 24.0%: −$25,598
• After-tax cash flow: $82,673/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+47.1% since first listed

11 events — show timeline

• 2026-05-21 Listed $500,000 MiRealSource-MiMLS
• 2026-05-21 Listed $500,000 REALCOMP
• 2022-09-21 Sold (MLS) $660,000 REALCOMP
• 2022-09-21 Sold (MLS) $660,000 MiRealSource-MiMLS
• 2022-08-26 Pending — MiRealSource-MiMLS
• 2022-08-26 Relisted — MiRealSource-MiMLS
• 2022-07-15 Listing Removed — MiRealSource-MiMLS
• 2022-05-14 Listed $800,000 REALCOMP
• 2022-05-14 Listed $800,000 MiRealSource-MiMLS
• 2018-01-16 Sold (MLS) $300,000 MiRealSource-MiMLS
• 2017-09-11 Listed $340,000 MiRealSource-MiMLS