3018 Burlingame St · Detroit, MI 48206

$80,000

5 bd · 1.5 ba · 1,674 sqft · SingleFamily public records · 92 Days on market

Built 1924 4,356 sqft lot Est $122k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1924

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 10.1% 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); 273 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,936/mo this rent would consume 52% of the median local household income ($45k/yr) (locally 646% 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 $553 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 + 5.2% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.42% ✓
• Cap rate: 19.79%
• Cash-on-cash: 48.22%
• DSCR: 3.15
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $122,202
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3275 Collingwood St	0.19mi	4/1.5 (-1)	1,600 (-4%)	2mo	$64,000	$40	78
2064 Glynn Ct	0.67mi	4/1.5 (-1)	1,624 (-3%)	4mo	$118,556	$73	55
3284 Clairmount St	0.73mi	4/2.0 (-1)	1,714 (+2%)	9mo	$15,000	$9	48
2437 Longfellow St	0.66mi	4/1.5 (-1)	1,841 (+10%)	2mo	$135,000	$73	46
3253 W Buena Vista St	0.67mi	4/1.0 (-1)	1,642 (-2%)	23mo	$94,900	$58	39
2245 Collingwood St	0.57mi	4/1.0 (-1)	1,543 (-8%)	22mo	$132,000	$86	35
2220 Webb St	0.64mi	4/2.5 (-1)	1,848 (+10%)	12mo	$130,000	$70	34
3300 Leslie St	0.58mi	4/2.0 (-1)	1,532 (-8%)	21mo	$189,900	$124	34
4021 Cortland St	0.53mi	4/3.5 (-1)	1,562 (-7%)	23mo	$250,000	$160	32
2495 Cortland St	0.49mi	4/2.0 (-1)	1,439 (-14%)	24mo	$93,000	$65	27

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: 48.4%
• Equity multiple: 3.18×
• Total profit: $48,819
• Equity at exit: $11,928

10-year hold

• IRR: 54.9%
• Equity multiple: 7.05×
• Total profit: $135,433
• Equity at exit: $6,917

Cash invested: $22,400 (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: 273
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,936 high
• Mortgage (P&I): −$420
• Tax from tax record: −$176 /mo · $2,113/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $900

Break-even live

Break-even rent $796

Max offer price $80,000

Occupancy floor 48%

Sensitivity live

Price	-10% $945	-5% $923	+0% $900	+5% $877	+10% $855
Rent	-10% $747	-5% $824	+0% $900	+5% $977	+10% $1,053
Rate	-1.0pp $940	-0.5pp $920	base $900	+0.5pp $879	+1.0pp $858

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	18d	1	0.08mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	3d	1	0.29mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	6d	1	0.85mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	18d	1	1.14mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	6d	1	1.19mi
4114 W Euclid St Detroit, MI	6.0	2.0	1500	$1,800	$1.20	45d	1	1.21mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	1.23mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	1.45mi

Listing history 32 events

1. 2024-12-17
   status Pending
2. 2024-02-23
   soldstatus $75,000
3. 2024-01-03
   status Pending 135-char remark

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

4. 2024-01-03
   status Pending

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

5. 2023-07-27
   status Pending 135-char remark

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

6. 2023-07-27
   status Pending

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

7. 2023-07-26
   historical

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

8. 2023-07-26
   historical 135-char remark

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

9. 2023-06-17
   price $80,000 135-char remark

   Show marketing remark (135 chars)

   This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

10. 2023-06-16
    price $80,000
11. 2023-04-26
    listed $85,000 Active
12. 2023-04-25
    listed $85,000 Active 135-char remark

    Show marketing remark (135 chars)

    This home is primed for rehab. Schedule an appointment today. BATVAI. Purchaser to pay listing broker a 495 transaction fee at closing.

13. 2020-06-08
    soldstatus $87,500
14. 2020-01-31
    historical
15. 2020-01-24
    historical
16. 2019-09-20
    status Active
17. 2019-09-18
    historical
18. 2019-08-03
    price $50,000
19. 2019-08-02
    price $50,000
20. 2019-07-11
    listed $60,000 Active
21. 2019-07-11
    listed $60,000 Active
22. 2019-02-12
    historical
23. 2019-02-12
    historical
24. 2019-01-09
    listed $40,000 Active
25. 2019-01-09
    listed $40,000 Active
26. 2018-08-18
    historical
27. 2018-08-17
    historical
28. 2018-07-18
    price $56,900
29. 2018-07-17
    price $56,900
30. 2018-06-18
    listed $65,000 Active
31. 2018-06-18
    listed $65,000 Active
32. 1996-10-02
    soldstatus $20,000

ⓘ 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: $2,113 · $176/mo
• Projected year-2 tax: $2,113 · $176/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: $23,227
• − Mortgage interest: −$4,481
• − Property taxes: −$2,113
• − Insurance: −$400
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$2,327
• Taxable income: $10,188
• Est. tax owed @ 24.0%: −$2,445
• After-tax cash flow: $8,356/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

+275.0% since first listed

32 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-02-23 Sold (Public Records) $75,000 Public Records
• 2024-01-03 Pending — MiRealSource-MiMLS
• 2024-01-03 Pending — REALCOMP
• 2023-07-27 Pending — MiRealSource-MiMLS
• 2023-07-27 Pending — REALCOMP
• 2023-07-26 Listing Removed — MiRealSource-MiMLS
• 2023-07-26 Listing Removed — REALCOMP
• 2023-06-17 Price Changed $80,000 MiRealSource-MiMLS
• 2023-06-16 Price Changed $80,000 REALCOMP
• 2023-04-26 Listed $85,000 REALCOMP
• 2023-04-25 Listed $85,000 MiRealSource-MiMLS
• 2020-06-08 Sold (Public Records) $87,500 Public Records
• 2020-01-31 Listing Removed — MiRealSource-MiMLS
• 2020-01-24 Listing Removed — REALCOMP
• 2019-09-20 Relisted — REALCOMP
• 2019-09-18 Listing Removed — REALCOMP
• 2019-08-03 Price Changed $50,000 MiRealSource-MiMLS
• 2019-08-02 Price Changed $50,000 REALCOMP
• 2019-07-11 Listed $60,000 MiRealSource-MiMLS
• 2019-07-11 Listed $60,000 REALCOMP
• 2019-02-12 Listing Removed — REALCOMP
• 2019-02-12 Listing Removed — MiRealSource-MiMLS
• 2019-01-09 Listed $40,000 MiRealSource-MiMLS
• 2019-01-09 Listed $40,000 REALCOMP
• 2018-08-18 Listing Removed — REALCOMP
• 2018-08-17 Listing Removed — MiRealSource-MiMLS
• 2018-07-18 Price Changed $56,900 MiRealSource-MiMLS
• 2018-07-17 Price Changed $56,900 REALCOMP
• 2018-06-18 Listed $65,000 MiRealSource-MiMLS
• 2018-06-18 Listed $65,000 REALCOMP
• 1996-10-02 Sold (Public Records) $20,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,113 · +5.0% YoY. Source: county tax records.