6665 Holcomb St · Detroit, MI 48213

$40,000

3 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 57 Days on market

Built 1916 3,049 sqft lot $36/sqft · 11% above area Est $36k · 11% over ↓ 15% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• ARV discount +2.5/15.0
• 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

LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

Key facts

• 3,049 sq ft lot
• Built 1916
• Listed 57 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.0% 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: 190 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,342/mo this rent would consume 47% of the median local household income ($34k/yr) (locally 1202% 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 $277 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 19y ago; this cycle's ask has dropped $5k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1916 — 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. 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: 3.36% ✓
• Cap rate: 27.99%
• Cash-on-cash: 77.48%
• DSCR: 4.45
• GRM: 2.5

CMA / ARV

• ARV (median comp): $36,006
• List price: $40,000
• Delta: 11.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9354 Bessemore St	0.14mi	3/1.0	1,125 (+1%)	16mo	$23,000	$20	78
6659 Fischer St	0.17mi	3/1.0	1,200 (+8%)	6mo	$22,000	$18	74
8221 Marion St	0.39mi	3/1.0	1,070 (-4%)	8mo	$42,080	$39	69
6156 Iroquois St	0.43mi	2/1.0 (-1)	1,148 (+3%)	3mo	$50,000	$44	67
8293 Marion St	0.33mi	3/1.0	1,152 (+4%)	17mo	$36,000	$31	64
8953 Culver St	0.34mi	2/1.0 (-1)	1,046 (-6%)	9mo	$26,000	$25	62
8922 Armour St	0.44mi	4/1.0 (+1)	1,050 (-6%)	5mo	$25,000	$24	61
6631 Seminole St	0.40mi	3/1.5	1,248 (+12%)	2mo	$24,000	$19	58
5832 Garland St	0.73mi	3/1.0	1,169 (+5%)	6mo	$29,900	$26	52
6130 Maxwell St	0.50mi	3/1.0	958 (-14%)	4mo	$40,000	$42	50
6026 Maxwell St	0.54mi	4/1.0 (+1)	1,266 (+14%)	2mo	$10,000	$8	45
8138 Knodell St	0.55mi	4/1.0 (+1)	1,260 (+13%)	12mo	$46,000	$37	37

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: 77.5%
• Equity multiple: 4.54×
• Total profit: $39,631
• Equity at exit: $5,964

10-year hold

• IRR: 81.1%
• Equity multiple: 9.40×
• Total profit: $94,046
• Equity at exit: $3,458

Cash invested: $11,200 (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 48213

• Active inventory: 190
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$210
• Tax from tax record: −$111 /mo · $1,328/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $723

Break-even live

Break-even rent $427

Max offer price $40,000

Occupancy floor 41%

Sensitivity live

Price	-10% $746	-5% $734	+0% $723	+5% $712	+10% $700
Rent	-10% $617	-5% $670	+0% $723	+5% $776	+10% $829
Rate	-1.0pp $743	-0.5pp $733	base $723	+0.5pp $713	+1.0pp $702

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	0.11mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	0.31mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	0.39mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.57mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	18d	1	0.62mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.82mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.87mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	2d	1	1.15mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	2d	1	1.15mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	18d	1	1.26mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.31mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	1.34mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.43mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	1.46mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	1.47mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.49mi

Listing history 38 events

1. 2026-06-18
   days on market $40,000 Active 57 DOM
2. 2026-06-17
   days on market $40,000 Active 56 DOM
3. 2026-06-15
   days on market $40,000 Active 54 DOM
4. 2026-06-13
   days on market $40,000 Active 52 DOM
5. 2026-06-13
   days on market $40,000 Active 51 DOM
6. 2026-06-09
   days on market $40,000 Active 48 DOM
7. 2026-06-08
   days on market $40,000 Active 47 DOM
8. 2026-06-07
   days on market $40,000 Active 46 DOM
9. 2026-06-04
   days on market $40,000 Active 43 DOM
10. 2026-06-03
    days on market $40,000 Active 42 DOM
11. 2026-06-02
    days on market $40,000 Active 41 DOM
12. 2026-06-01
    days on market $40,000 Active 40 DOM
13. 2026-05-31
    days on market $40,000 Active 39 DOM
14. 2026-04-27
    status Active 368-char remark

    Show marketing remark (368 chars)

    LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

15. 2026-04-27
    status Active 368-char remark

    Show marketing remark (368 chars)

    LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

16. 2026-04-20
    status Pending 368-char remark

    Show marketing remark (368 chars)

    LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

17. 2026-04-20
    status Pending 368-char remark

    Show marketing remark (368 chars)

    LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

18. 2026-04-15
    listed $44,900 Active 368-char remark

    Show marketing remark (368 chars)

    LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

19. 2026-04-15
    listed $44,900 Active 368-char remark

    Show marketing remark (368 chars)

    LAND Contract available on Detroits East side. 7500 DOWN/ monthly is negotiable. Currently tenant occupied on a month to month basis, paying 900 monthly. Side adjacent lot is not for sale. Seller does not own it. Showings are by appointment only. Please do not approach property without an appointment. Warranty Deed is available. FRESH NEW PHOTOS COMING THIS WEEKEND!

20. 2009-11-16
    historical
21. 2009-07-10
    listed $10,900
22. 2008-09-17
    historical
23. 2008-09-17
    historical
24. 2008-06-29
    listed $8,100
25. 2008-06-28
    listed $7,300
26. 2008-06-25
    historical
27. 2008-06-17
    listed $14,900
28. 2008-06-01
    historical
29. 2008-02-11
    historical
30. 2008-02-01
    listed $14,900
31. 2007-12-18
    historical
32. 2007-10-19
    listed $14,900
33. 2007-09-17
    listed $14,900
34. 2007-07-23
    historical
35. 2007-07-23
    historical
36. 2007-01-24
    listed $19,900
37. 2007-01-23
    listed $19,900
38. 2005-10-20
    soldstatus $53,000

ⓘ 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: $1,328 · $111/mo
• Projected year-2 tax: $1,328 · $111/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 ≥96°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: $16,105
• − Mortgage interest: −$2,241
• − Property taxes: −$1,328
• − Insurance: −$200
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$1,164
• Taxable income: $8,595
• Est. tax owed @ 24.0%: −$2,063
• After-tax cash flow: $6,614/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

-15.3% since first listed

25 events — show timeline

• 2026-04-27 Relisted — MiRealSource-MiMLS
• 2026-04-27 Relisted — REALCOMP
• 2026-04-20 Pending — MiRealSource-MiMLS
• 2026-04-20 Pending — REALCOMP
• 2026-04-15 Listed $44,900 REALCOMP
• 2026-04-15 Listed $44,900 MiRealSource-MiMLS
• 2009-11-16 Listing Removed — REALCOMP
• 2009-07-10 Listed $10,900 REALCOMP
• 2008-09-17 Listing Removed — REALCOMP
• 2008-09-17 Listing Removed — MiRealSource-MiMLS
• 2008-06-29 Listed $8,100 REALCOMP
• 2008-06-28 Listed $7,300 MiRealSource-MiMLS
• 2008-06-25 Listing Removed — MiRealSource-MiMLS
• 2008-06-17 Listed $14,900 MiRealSource-MiMLS
• 2008-06-01 Listing Removed — MiRealSource-MiMLS
• 2008-02-11 Listing Removed — REALCOMP
• 2008-02-01 Listed $14,900 MiRealSource-MiMLS
• 2007-12-18 Listing Removed — REALCOMP
• 2007-10-19 Listed $14,900 REALCOMP
• 2007-09-17 Listed $14,900 REALCOMP
• 2007-07-23 Listing Removed — REALCOMP
• 2007-07-23 Listing Removed — MiRealSource-MiMLS
• 2007-01-24 Listed $19,900 REALCOMP
• 2007-01-23 Listed $19,900 MiRealSource-MiMLS
• 2005-10-20 Sold (Public Records) $53,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $1,328 · -40.1% YoY. Source: county tax records.