3677 Townsend St · Detroit, MI 48214

$22,900

3 bd · 1.0 ba · 1,212 sqft · SingleFamily public records · 100 Days on market

Built 1907 3,485 sqft lot ↓ 30% since listing

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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

Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

Key facts

• 3,485 sq ft lot
• Built 1907
• Listed 100 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $21k (9.0% below list) — sets the bar for market timing.
• Cap rate 55.3% 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: 298 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); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,437/mo this rent would consume 51% of the median local household income ($34k/yr) (locally 1364% 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 $158 of loan paydown is wiped out by about $687 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y ago; this cycle's ask has dropped $4k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,839 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 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 1907 — 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. 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?
9. 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.
10. 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.
11. 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: 6.28% ✓
• Cap rate: 55.34%
• Cash-on-cash: 175.17%
• DSCR: 8.79
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $199,980
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3739 Van Dyke St	0.21mi	3/1.0	1,361 (+12%)	3mo	$60,000	$44	67
3872 Fischer St	0.63mi	3/1.0	1,288 (+6%)	9mo	$62,500	$49	52
2476 Beals St	0.54mi	3/1.5	1,324 (+9%)	6mo	$287,900	$217	52
2547 Baldwin St	0.45mi	3/1.0	1,354 (+12%)	12mo	$150,000	$111	50
2270 Parker St	0.70mi	3/1.0	1,319 (+9%)	4mo	$217,500	$165	49
4198 Seneca St	0.56mi	3/1.5	1,172 (-3%)	22mo	$199,400	$170	48
3515 Fischer St	0.62mi	3/1.5	1,320 (+9%)	11mo	$345,000	$261	45
2920 Townsend St	0.38mi	3/1.5	1,349 (+11%)	22mo	$250,000	$185	43
5014 Townsend St	0.64mi	3/1.0	1,388 (+14%)	7mo	$10,000	$7	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.73×
• Total profit: $55,949
• Equity at exit: $3,414

10-year hold

• IRR: —
• Equity multiple: 20.60×
• Total profit: $125,670
• Equity at exit: $1,980

Cash invested: $6,412 (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 48214

• Active inventory: 298
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$120
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $936

Break-even live

Break-even rent $252

Max offer price $22,900

Occupancy floor 30%

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: $5,725
• Closing costs: $687
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	0.22mi
3980 Helen St Detroit, MI	2.0	1.0	800	$845	$1.06	16d	1	0.28mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	0.37mi
3511 Concord Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.42mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	0.55mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	0.57mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	43d	1	0.71mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	0.77mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	1d	3	0.81mi
7410 Kercheval Ave Unit 212 Detroit, MI	2.0	2.0	1017	$1,950	$1.92	43d	1	0.81mi
3755 Ellery St Unit 1 Detroit, MI	2.0	1.0	915	$1,200	$1.31	24d	1	0.81mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	2d	1	0.87mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	2d	1	0.87mi
374 E Grand Blvd Unit 2A Detroit, MI	2.0	2.0	1450	$2,750	$1.90	43d	1	0.91mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.93mi
1454 Townsend St #101 Detroit, MI	2.0	2.0	1268	$2,500	$1.97	3d	1	0.96mi
3323 Gratiot Ave Unit R Detroit, MI	2.0	1.0	1200	$975	$0.81	43d	1	1.01mi
3325 Gratiot Ave Unit R Detroit, MI	2.0	1.0	1200	$1,000	$0.83	43d	1	1.01mi
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	43d	1	1.07mi
1000 Van Dyke St Unit 205 Detroit, MI	2.0	1.0	863	$1,495	$1.73	15d	1	1.21mi
1000 Van Dyke St Unit B02 Detroit, MI	2.0	1.0	871	$1,295	$1.49	24d	1	1.21mi
1000 Van Dyke St Detroit, MI	1.0–2.0	1.0	751	$1,295	$1.72	43d	4	1.21mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	18d	1	1.22mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.22mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	1.23mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	1.24mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	24d	1	1.27mi
625 Field St Detroit, MI	3.0	1.5	900	$882	$0.98	18d	1	1.29mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	1.32mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	1.32mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	43d	1	1.32mi
1440 Robert Bradby Dr Detroit, MI	2.0	2.0	1250	$1,472	$1.18	43d	1	1.39mi
8845 E Jefferson Apt 208 Detroit, MI	2.0	1.5	992	$1,635	$1.65	43d	1	1.39mi
8845 E Jefferson Ave Unit 302 Detroit, MI	2.0	2.0	885	$1,460	$1.65	43d	1	1.39mi
8845 E Jefferson Ave Unit 204 Detroit, MI	2.0	1.5	1150	$2,350	$2.04	43d	1	1.39mi
8845 E Jefferson Ave Unit 203 Detroit, MI	2.0	1.5	1024	$1,515	$1.48	43d	1	1.39mi
8845 E Jefferson Ave Unit 207 Detroit, MI	2.0	1.5	1500	$1,695	$1.13	43d	1	1.39mi
8845 E Jefferson Ave Unit 205 Detroit, MI	2.0	1.5	960	$1,425	$1.48	43d	1	1.39mi
8845 E Jefferson Ave Unit 206 Detroit, MI	2.0	1.5	1230	$1,660	$1.35	43d	1	1.39mi
1130 Holcomb St Detroit, MI	2.0	1.0	550	$1,095	$1.99	2d	18	1.40mi

Listing history 26 events

1. 2026-03-30
   status Pending 216-char remark

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

2. 2026-03-30
   status Pending

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

3. 2026-03-21
   price $22,900 216-char remark

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

4. 2026-03-21
   price $22,900

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

5. 2026-02-22
   price $25,500 216-char remark

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

6. 2026-02-21
   price $25,500
7. 2025-12-27
   price $26,500 216-char remark

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

8. 2025-12-26
   price $26,500
9. 2025-12-20
   listed $27,400 Active

   Show marketing remark (216 chars)

   Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

10. 2025-12-20
    listed $27,400 Active 216-char remark

    Show marketing remark (216 chars)

    Investor special! Ready to be cleaned out and updated with great potential. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

11. 2025-10-08
    status Pending
12. 2025-10-07
    status Pending
13. 2025-10-07
    historical
14. 2025-10-07
    historical
15. 2025-05-28
    listed $28,900 Active
16. 2025-05-28
    listed $28,900 Active
17. 2024-09-09
    historical
18. 2024-09-09
    historical
19. 2024-07-18
    price $31,900
20. 2024-07-17
    price $31,900
21. 2024-07-01
    status Active
22. 2024-07-01
    status Active
23. 2024-06-18
    listed Accepting Backup Offers
24. 2024-06-18
    listed Accepting Backup Offers
25. 2024-06-18
    listed $32,900
26. 2024-06-18
    listed $32,900

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $836 · $70/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 · 14 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: $17,245
• − Mortgage interest: −$1,283
• − Property taxes: −$836
• − Insurance: −$114
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$666
• Taxable income: $11,586
• Est. tax owed @ 24.0%: −$2,781
• After-tax cash flow: $8,451/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

-30.4% since first listed

26 events — show timeline

• 2026-03-30 Pending — MiRealSource-MiMLS
• 2026-03-30 Pending — REALCOMP
• 2026-03-21 Price Changed $22,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $22,900 REALCOMP
• 2026-02-22 Price Changed $25,500 MiRealSource-MiMLS
• 2026-02-21 Price Changed $25,500 REALCOMP
• 2025-12-27 Price Changed $26,500 MiRealSource-MiMLS
• 2025-12-26 Price Changed $26,500 REALCOMP
• 2025-12-20 Listed $27,400 REALCOMP
• 2025-12-20 Listed $27,400 MiRealSource-MiMLS
• 2025-10-08 Pending — MiRealSource-MiMLS
• 2025-10-07 Pending — REALCOMP
• 2025-10-07 Listing Removed — REALCOMP
• 2025-10-07 Listing Removed — MiRealSource-MiMLS
• 2025-05-28 Listed $28,900 REALCOMP
• 2025-05-28 Listed $28,900 MiRealSource-MiMLS
• 2024-09-09 Listing Removed — MiRealSource-MiMLS
• 2024-09-09 Listing Removed — REALCOMP
• 2024-07-18 Price Changed $31,900 MiRealSource-MiMLS
• 2024-07-17 Price Changed $31,900 REALCOMP
• 2024-07-01 Relisted — MiRealSource-MiMLS
• 2024-07-01 Relisted — REALCOMP
• 2024-06-18 Listed — MiRealSource-MiMLS
• 2024-06-18 Listed — REALCOMP
• 2024-06-18 Listed $32,900 MiRealSource-MiMLS
• 2024-06-18 Listed $32,900 REALCOMP

Property tax history

+1.6%/yr

Latest (2025): $836 · -53.5% YoY. Source: county tax records.