4848 Seminole St · Detroit, MI 48214

$65,000

2 bd · 1.0 ba · 1,381 sqft · SingleFamily public records · 11 Days on market

Built 1915 3,049 sqft lot Est $68k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• 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! Detroit 2-bedroom, 2-bath bungalow ready for your vision. Great potential with cash-only terms. Conveniently located close to freeways and just minutes from downtown - bring your ideas and make this your next profitable project. BATVAI

Key facts

• 3,049 sq ft lot
• Built 1915
• Listed 11 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Paved road access; Lot approximately 30 x 110 (0.07 acres)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 13.7% vs local median 10.0% 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: 300 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent runs 39% of the median local income ($34k/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 $449 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 + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1915 — 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: 1.70% ✓
• Cap rate: 13.71%
• Cash-on-cash: 26.49%
• DSCR: 2.18
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $67,669
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5171 Burns St	0.24mi	3/1.0 (+1)	1,425 (+3%)	3mo	$20,000	$14	76
5239 Crane St	0.33mi	3/1.0 (+1)	1,404 (+2%)	4mo	$24,500	$17	73
5115 Seyburn St	0.29mi	3/1.0 (+1)	1,400 (+1%)	8mo	$15,000	$11	73
5014 Townsend St	0.35mi	3/1.0 (+1)	1,388 (+0%)	8mo	$10,000	$7	72
4481 Seminole St	0.22mi	3/1.5 (+1)	1,426 (+3%)	8mo	$77,000	$54	70
3739 Van Dyke St	0.58mi	3/1.0 (+1)	1,361 (-1%)	3mo	$60,000	$44	63
3508 Parker St	0.74mi	3/2.5 (+1)	1,400 (+1%)	3mo	$266,300	$190	50
3872 Fischer St	0.56mi	3/1.0 (+1)	1,288 (-7%)	9mo	$62,500	$49	50
3982 Townsend St	0.56mi	3/1.0 (+1)	1,428 (+3%)	17mo	$79,460	$56	49
4533 Mcclellan St	0.57mi	3/1.0 (+1)	1,194 (-14%)	7mo	$86,000	$72	40
3773 Burns St	0.63mi	3/1.5 (+1)	1,456 (+5%)	18mo	$220,000	$151	40
6015 Seminole St	0.70mi	3/1.5 (+1)	1,492 (+8%)	17mo	$32,000	$21	33

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: 20.3%
• Equity multiple: 1.83×
• Total profit: $15,080
• Equity at exit: $9,692

10-year hold

• IRR: 28.6%
• Equity multiple: 3.54×
• Total profit: $46,192
• Equity at exit: $5,620

Cash invested: $18,200 (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 48214

• Active inventory: 300
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,102 high
• Mortgage (P&I): −$341
• Tax from tax record: −$101 /mo · $1,211/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $402

Break-even live

Break-even rent $594

Max offer price $65,000

Occupancy floor 59%

Sensitivity live

Price	-10% $438	-5% $420	+0% $402	+5% $383	+10% $365
Rent	-10% $315	-5% $358	+0% $402	+5% $445	+10% $489
Rate	-1.0pp $434	-0.5pp $418	base $402	+0.5pp $385	+1.0pp $368

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	18d	1	0.27mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	19d	1	0.31mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	19d	1	0.57mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	25d	1	0.67mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	45d	1	0.80mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	16d	1	0.88mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	6d	1	0.91mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	18d	1	1.05mi
3954 Saint Clair St Unit 2 Detroit, MI	1.0	1.0	1080	$650	$0.60	12d	1	1.05mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	25d	1	1.15mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	45d	1	1.15mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	1.18mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	5d	1	1.18mi
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	45d	1	1.26mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	45d	1	1.27mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	0d	1	1.31mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	25d	1	1.33mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	0d	3	1.34mi
3755 Ellery St Unit 1 Detroit, MI	2.0	1.0	915	$1,200	$1.31	25d	1	1.34mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	18d	1	1.41mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	1.42mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	16d	1	1.44mi
7410 Kercheval Ave Unit 212 Detroit, MI	2.0	2.0	1017	$1,950	$1.92	45d	1	1.44mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	45d	1	1.44mi

Listing history 8 events

1. 2026-06-21
   days on market $65,000 Active 11 DOM
2. 2026-06-18
   days on market $65,000 Active 8 DOM
3. 2026-06-17
   days on market $65,000 Active 7 DOM
4. 2026-06-16
   days on market $65,000 Active 6 DOM
5. 2026-06-15
   days on market $65,000 Active 5 DOM
6. 2026-06-13
   days on market $65,000 Active 3 DOM
7. 2026-06-13
   remarks 253-char remark
8. 2026-06-13
   listed $65,000 Active 2 DOM

ⓘ 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: $1,211 · $101/mo
• Projected year-2 tax: $1,211 · $101/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $13,224
• − Mortgage interest: −$3,641
• − Property taxes: −$1,211
• − Insurance: −$325
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$1,891
• Taxable income: $4,040
• Est. tax owed @ 24.0%: −$970
• After-tax cash flow: $3,851/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

+116.7% since first listed

20 events — show timeline

• 2026-06-05 Listed $65,000 REALCOMP
• 2026-06-05 Listed $65,000 MiRealSource-MiMLS
• 2026-02-26 Listing Removed — MiRealSource-MiMLS
• 2025-11-19 Relisted — MiRealSource-MiMLS
• 2025-11-19 Relisted — REALCOMP
• 2025-11-10 Pending — MiRealSource-MiMLS
• 2025-11-10 Pending — REALCOMP
• 2025-11-10 Listing Removed — REALCOMP
• 2025-10-09 Price Changed $70,000 MiRealSource-MiMLS
• 2025-10-09 Price Changed $70,000 REALCOMP
• 2025-09-10 Listed $74,999 REALCOMP
• 2025-09-10 Listed $74,999 MiRealSource-MiMLS
• 2017-09-29 Listing Removed — REALCOMP
• 2017-09-29 Listing Removed — MiRealSource-MiMLS
• 2017-09-04 Price Changed $20,000 MiRealSource-MiMLS
• 2017-09-03 Price Changed $20,000 REALCOMP
• 2017-08-10 Price Changed $25,000 MiRealSource-MiMLS
• 2017-08-09 Price Changed $25,000 REALCOMP
• 2017-06-13 Listed $30,000 MiRealSource-MiMLS
• 2017-06-11 Listed $30,000 REALCOMP

Property tax history

+2.6%/yr

Latest (2025): $1,211 · +1.8% YoY. Source: county tax records.