2305 Richton St · Detroit, MI 48206

$30,000

3 bd · 1.0 ba · 1,213 sqft · SingleFamily public records · 1 Days on market

Built 1923 Est $53k · 44% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

EXCELLENT INVESTMENT OPPORTUNITY. AS-IS SALE. BUYER TO SIGN ALL CORPORATE REQUIRED DOCS. INFORMATION IS ESTIMATED NOT GUARANTEED. BUYER TO VERIFY ALL INFORMATION PRIOR TO CLOSING. THIS HOUSE IS GOING TO AN AUCTION THROUGH HUDSON & MARSHALL, JULY 31, 11:00 AM @ MARRIOT DETROIT IN LIVONIA. 17100 LAUREL PARK DRIVE NORTH.

Key facts

• Built 1923

Property features AI

Finance

• Other: No additional financial or community details provided
• Financial info: Financial details not provided
• HOA & community: HOA information not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Utility details not provided
• Home design: Built in 1923
• Construction: Living area of 1213; Construction details not provided
• Exterior features: Part of the Dexter Linwood subdivision

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedroom count not provided
• Flooring: Flooring details not provided
• Bathrooms: Bathroom details not provided
• Heating & cooling: Heating and cooling details not provided
• Interior features: No interior details available
• Laundry & utility: Laundry and utility details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $814 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 38.8% 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 rising fast (+5.2%/yr); 271 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 34% of the median local income ($45k/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 $207 of loan paydown is wiped out by about $900 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 + 5.2% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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.
• Current owner paid $21k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,000

Questions for the listing agent

1. Built in 1923 — 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: 4.31% ✓
• Cap rate: 38.84%
• Cash-on-cash: 116.23%
• DSCR: 6.17
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $53,372
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2268 Highland St	0.13mi	3/1.0	1,163 (-4%)	0mo	$10,000	$9	87
2291 Tuxedo St	0.17mi	3/1.5	1,197 (-1%)	4mo	$35,000	$29	85
2401 Cortland St	0.10mi	3/1.0	1,176 (-3%)	15mo	$18,000	$15	78
2509 Richton St	0.19mi	3/1.0	1,114 (-8%)	2mo	$15,000	$13	76
2474 Sturtevant St	0.24mi	3/1.0	1,092 (-10%)	4mo	$28,000	$26	69
2420 Monterey St	0.11mi	3/1.0	1,080 (-11%)	14mo	$48,000	$44	65
2947 Glynn Ct	0.72mi	3/1.0	1,208 (-0%)	4mo	$105,000	$87	62
1689 Tyler St	0.53mi	3/1.5	1,260 (+4%)	6mo	$77,300	$61	62
1180 Lawrence St	0.73mi	3/1.5	1,212 (-0%)	12mo	$130,000	$107	53
1568 Highland St	0.45mi	4/2.0 (+1)	1,344 (+11%)	6mo	$65,000	$48	47
371 Highland St	0.56mi	4/1.0 (+1)	1,128 (-7%)	14mo	$55,000	$49	46
1220 Lawrence St	0.70mi	3/1.0	1,382 (+14%)	5mo	$5,000	$4	40

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.94×
• Total profit: $49,903
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 15.62×
• Total profit: $122,811
• Equity at exit: $2,594

Cash invested: $8,400 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $814

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 32%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	17d	1	0.03mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	24d	1	0.22mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	0.28mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.35mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	24d	1	0.41mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	2d	1	0.49mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	44d	1	0.52mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	0.54mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	44d	1	0.62mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	0.64mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	0.64mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	44d	1	0.65mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	0.66mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	11d	1	0.67mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	13d	1	0.70mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	0.71mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	44d	1	0.73mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	24d	1	0.73mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	44d	1	0.73mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	44d	1	0.80mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	13d	1	0.80mi
1251 Glynn Ct Detroit, MI	2.0	1.0	705	$1,288	$1.83	2d	2	0.81mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	24d	1	0.84mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	0.97mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	44d	1	0.98mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	5d	1	0.98mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.99mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	1.04mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	44d	1	1.04mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	4d	1	1.05mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	17d	1	1.09mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	1.09mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	44d	1	1.10mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.13mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	1.14mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.14mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	44d	1	1.15mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	44d	1	1.16mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	1.16mi
1628 Gladstone St Unit 2 Detroit, MI	2.0	1.0	800	$1,050	$1.31	44d	1	1.23mi

Listing history 2 events

1. 2026-06-19
   remarks 695-char remark
2. 2026-06-19
   listed $30,000 Active 1 DOM

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,508
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$873
• Taxable income: $9,874
• Est. tax owed @ 24.0%: −$2,370
• After-tax cash flow: $7,394/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

+53.8% since first listed

9 events — show timeline

• 2026-06-19 Listed $30,000 FSBO.com
• 2004-09-27 Sold (MLS) $21,000 REALCOMP
• 2004-06-03 Listing Removed — REALCOMP
• 2004-06-03 Listed $24,900 REALCOMP
• 2004-04-06 Listed $29,900 REALCOMP
• 2000-07-25 Sold (Public Records) $50,000 Public Records
• 2000-03-08 Listing Removed — REALCOMP
• 1999-10-08 Listed $38,000 REALCOMP
• 1991-10-02 Sold (Public Records) $19,507 Public Records

Property tax history

+11.6%/yr

Latest (2025): $2,428 · +20.3% YoY. Source: county tax records.