931 Ashland St · Detroit, MI 48215

$49,900

4 bd · 2.0 ba · 2,317 sqft · SingleFamily public records · 55 Days on market

Built 1920 5,663 sqft lot $22/sqft · 84% below area

---

Why this score? — see what drove the D 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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Great opportunity! Welcome to 931 Ashland St, a spacious 4-bedroom home with living room, dining room, and dedicated office space, located in Detroit’s desirable Jefferson Chalmers neighborhood. This property offers a functional layout with generous room sizes, providing flexibility for both owner-occupants and investors. The additional office space is ideal for working from home or can be converted to suit your needs. With strong bones and solid potential, this home is ready for renovation and customization. Situated in the Jefferson Chalmers area, known for its proximity to the Detroit River, parks, and ongoing revitalization, the neighborhood continues to attract homeowners and investors alike. Conveniently located near shopping, schools, waterfront parks, and major roadways, with easy access to Downtown Detroit and Grosse Pointe. This property does not have canal access. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal including intended use, renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements. Waiver requests are reviewed case-by-case and may require payment in lieu of taxes, subject to review of development pro forma and financing. Property sold as-is. Buyer to verify all information. Excellent opportunity for investors or homeowners looking to renovate and add value in the Jefferson Chalmers waterfront community.

Key facts

• 5,663 sq ft lot
• Built 1920
• Listed 55 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 42.4% 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: 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: property tax is 3.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.92% ✓
• Cap rate: 42.38%
• Cash-on-cash: 128.87%
• DSCR: 6.73
• GRM: 1.7

CMA / ARV

• ARV (median comp): $308,935
• List price: $49,900
• Delta: -83.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
888 Marlborough St	0.16mi	5/2.5 (+1)	2,200 (-5%)	3mo	$175,000	$80	74
875 Balfour St	0.51mi	4/2.5	2,338 (+1%)	6mo	$610,000	$261	68
1108 Wayburn St	0.37mi	3/2.0 (-1)	2,176 (-6%)	1mo	$340,000	$156	67
824 Philip St	0.11mi	3/3.0 (-1)	2,084 (-10%)	11mo	$169,999	$82	60
473 Chalmers St	0.52mi	3/2.0 (-1)	2,298 (-1%)	14mo	$220,000	$96	58
561 Lakewood St	0.47mi	5/3.5 (+1)	2,230 (-4%)	5mo	$305,000	$137	56
1133 Balfour St	0.60mi	3/2.5 (-1)	2,298 (-1%)	13mo	$510,000	$222	53
428 Alter Rd	0.53mi	3/2.0 (-1)	2,431 (+5%)	13mo	$210,000	$86	51
709 Middlesex Rd	0.61mi	4/2.5	2,550 (+10%)	4mo	$565,000	$222	50
880 Pemberton Rd	0.25mi	3/2.5 (-1)	2,650 (+14%)	11mo	$570,000	$215	48
1107 Buckingham Rd	0.71mi	3/2.0 (-1)	2,010 (-13%)	14mo	$544,500	$271	28
1178 Balfour St	0.69mi	3/2.0 (-1)	2,615 (+13%)	16mo	$549,000	$210	28

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: —
• Equity multiple: 7.27×
• Total profit: $87,575
• Equity at exit: $7,440

10-year hold

• IRR: —
• Equity multiple: 15.29×
• Total profit: $199,701
• Equity at exit: $4,314

Cash invested: $13,972 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,455 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$157 /mo · $1,879/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $1,500

Break-even live

Break-even rent $556

Max offer price $49,900

Occupancy floor 34%

Sensitivity live

Price	-10% $1,529	-5% $1,515	+0% $1,500	+5% $1,486	+10% $1,472
Rent	-10% $1,307	-5% $1,403	+0% $1,500	+5% $1,597	+10% $1,694
Rate	-1.0pp $1,526	-0.5pp $1,513	base $1,500	+0.5pp $1,488	+1.0pp $1,474

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
371 Piper Blvd Detroit, MI	3.0	1.5	2340	$2,000	$0.85	44d	1	0.81mi
685 Bedford Ln Grosse Pointe Park, MI	4.0	2.5	2690	$4,500	$1.67	11d	1	0.94mi
2174 Springle St Detroit, MI	3.0	1.0	2256	$1,150	$0.51	2d	1	0.96mi

Listing history 8 events

1. 2026-06-07
   status $49,900 Pending 55 DOM
2. 2026-06-04
   days on market $49,900 Active 55 DOM
3. 2026-06-03
   days on market $49,900 Active 54 DOM
4. 2026-06-02
   days on market $49,900 Active 53 DOM
5. 2026-06-01
   days on market $49,900 Active 52 DOM
6. 2026-05-31
   days on market $49,900 Active 51 DOM
7. 2026-04-10
   listed $49,900 Active 1704-char remark

   Show marketing remark (1704 chars)

   Great opportunity! Welcome to 931 Ashland St, a spacious 4-bedroom home with living room, dining room, and dedicated office space, located in Detroit’s desirable Jefferson Chalmers neighborhood. This property offers a functional layout with generous room sizes, providing flexibility for both owner-occupants and investors. The additional office space is ideal for working from home or can be converted to suit your needs. With strong bones and solid potential, this home is ready for renovation and customization. Situated in the Jefferson Chalmers area, known for its proximity to the Detroit River, parks, and ongoing revitalization, the neighborhood continues to attract homeowners and investors alike. Conveniently located near shopping, schools, waterfront parks, and major roadways, with easy access to Downtown Detroit and Grosse Pointe. This property does not have canal access. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal including intended use, renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements. Waiver requests are reviewed case-by-case and may require payment in lieu of taxes, subject to review of development pro forma and financing. Property sold as-is. Buyer to verify all information. Excellent opportunity for investors or homeowners looking to renovate and add value in the Jefferson Chalmers waterfront community.

8. 2026-04-09
   listed $49,900 Active 1698-char remark

   Show marketing remark (1698 chars)

   Great opportunity! Welcome to 931 Ashland St, a spacious 4-bedroom home with living room, dining room, and dedicated office space, located in Detroit's desirable Jefferson Chalmers neighborhood. This property offers a functional layout with generous room sizes, providing flexibility for both owner-occupants and investors. The additional office space is ideal for working from home or can be converted to suit your needs. With strong bones and solid potential, this home is ready for renovation and customization. Situated in the Jefferson Chalmers area, known for its proximity to the Detroit River, parks, and ongoing revitalization, the neighborhood continues to attract homeowners and investors alike. Conveniently located near shopping, schools, waterfront parks, and major roadways, with easy access to Downtown Detroit and Grosse Pointe. This property does not have canal access. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal including intended use, renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements. Waiver requests are reviewed case-by-case and may require payment in lieu of taxes, subject to review of development pro forma and financing. Property sold as-is. Buyer to verify all information. Excellent opportunity for investors or homeowners looking to renovate and add value in the Jefferson Chalmers waterfront community.

ⓘ 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: $1,879 · $157/mo
• Projected year-2 tax: $1,879 · $157/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 5/10 Major FEMA zone X (unshaded) · 52% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,462
• − Mortgage interest: −$2,795
• − Property taxes: −$1,879
• − Insurance: −$250
• − Repairs & maintenance: −$2,357
• − Management: −$2,357
• − Depreciation: −$1,452
• Taxable income: $18,372
• Est. tax owed @ 24.0%: −$4,409
• After-tax cash flow: $13,596/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-04-10 Listed $49,900 REALCOMP
• 2026-04-09 Listed $49,900 MiRealSource-MiMLS

Property tax history

+3.8%/yr

Latest (2025): $1,879 · -24.5% YoY. Source: county tax records.