10620 Somerset Ave · Detroit, MI 48224

$74,900

6 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 91 Days on market

Built 1938 4,792 sqft lot $68/sqft · 10% below area Est $127k · 41% 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
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors! Don't miss your opportunity for cash flow with this well maintained multifamily colonial located on Detroits west side. Well maintained multifamily property located on Detroit's desirable west side, offering a strong income-producing opportunity for investors or owner occupants. This property features two separate units with a total of three bedrooms, including one spacious 2-bedroom unit and one comfortable 1-bedroom unit. Both units have been well cared for and maintained, making this a turnkey investment with solid rental potential. The layout provides flexibility for live in ownership while collecting rental income, or for investors seeking a fully leased income property. With Detroit's continued rental demand, this property offers a great return on investment (ROI) and strong long-term growth potential. Conveniently located near major roads, shopping, schools, and local amenities, this is an excellent opportunity to own a well maintained multifamily property in a high demand rental area. Schedule your showing today and take advantage of this great investment!

Key facts

• Two separate units
• Turnkey investment
• Multifamily colonial

Tags

• MULTIFAMILY COLONIAL
• TWO SEPARATE UNITS
• TURNKEY INVESTMENT
• FULLY LEASED INCOME PROPERTY
• HIGH DEMAND RENTAL AREA

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.8% 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: 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.
• Zoned schools: Wayne Elementary School (math 5% / reading 15%, grade F, #1,230 of 1,397 statewide, top 91%, 237 students, 94% FRL); Clippert Academy (379 students, 82% FRL); Denby High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 537 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: Rents flat; 492 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,805/mo this rent would consume 48% of the median local household income ($45k/yr) (locally 2515% 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 $518 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 + 0.7% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 24y 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: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,159 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.41% ✓
• Cap rate: 20.85%
• Cash-on-cash: 51.98%
• DSCR: 3.31
• GRM: 3.5

CMA / ARV

• ARV (median comp): $126,578
• List price: $74,900
• Delta: -40.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 47.3%
• Equity multiple: 2.99×
• Total profit: $41,713
• Equity at exit: $11,168

10-year hold

• IRR: 52.0%
• Equity multiple: 5.54×
• Total profit: $95,123
• Equity at exit: $6,476

Cash invested: $20,972 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,805 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $908

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 45%

Sensitivity live

Price	-10% $960	-5% $934	+0% $908	+5% $882	+10% $857
Rent	-10% $766	-5% $837	+0% $908	+5% $980	+10% $1,051
Rate	-1.0pp $946	-0.5pp $927	base $908	+0.5pp $889	+1.0pp $869

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	0d	1	0.38mi

Listing history 47 events

1. 2026-06-15
   days on market $74,900 Active 91 DOM
2. 2026-06-13
   days on market $74,900 Active 89 DOM
3. 2026-06-13
   days on market $74,900 Active 88 DOM
4. 2026-06-09
   days on market $74,900 Active 85 DOM
5. 2026-06-08
   days on market $74,900 Active 84 DOM
6. 2026-06-07
   days on market $74,900 Active 83 DOM
7. 2026-06-04
   days on market $74,900 Active 80 DOM
8. 2026-06-03
   days on market $74,900 Active 79 DOM
9. 2026-06-01
   days on market $74,900 Active 77 DOM
10. 2026-05-31
    days on market $74,900 Active 76 DOM
11. 2026-04-29
    price $74,900 1091-char remark

    Show marketing remark (1103 chars)

    Investors! Don't miss your opportunity for cash flow with this well maintained multifamily colonial located on Detroits west side. Well maintained multifamily property located on Detroit’s desirable west side, offering a strong income-producing opportunity for investors or owner occupants. This property features two separate units with a total of three bedrooms, including one spacious 2-bedroom unit and one comfortable 1-bedroom unit. Both units have been well cared for and maintained, making this a turnkey investment with solid rental potential. The layout provides flexibility for live in ownership while collecting rental income, or for investors seeking a fully leased income property. With Detroit’s continued rental demand, this property offers a great return on investment (ROI) and strong long-term growth potential. Conveniently located near major roads, shopping, schools, and local amenities, this is an excellent opportunity to own a well maintained multifamily property in a high demand rental area. Schedule your showing today and take advantage of this great investment!

12. 2026-04-29
    price $74,900 1103-char remark

    Show marketing remark (1103 chars)

    Investors! Don't miss your opportunity for cash flow with this well maintained multifamily colonial located on Detroits west side. Well maintained multifamily property located on Detroit’s desirable west side, offering a strong income-producing opportunity for investors or owner occupants. This property features two separate units with a total of three bedrooms, including one spacious 2-bedroom unit and one comfortable 1-bedroom unit. Both units have been well cared for and maintained, making this a turnkey investment with solid rental potential. The layout provides flexibility for live in ownership while collecting rental income, or for investors seeking a fully leased income property. With Detroit’s continued rental demand, this property offers a great return on investment (ROI) and strong long-term growth potential. Conveniently located near major roads, shopping, schools, and local amenities, this is an excellent opportunity to own a well maintained multifamily property in a high demand rental area. Schedule your showing today and take advantage of this great investment!

13. 2026-03-16
    listed $79,900 Active 1103-char remark

    Show marketing remark (1091 chars)

    Investors! Don't miss your opportunity for cash flow with this well maintained multifamily colonial located on Detroits west side. Well maintained multifamily property located on Detroit's desirable west side, offering a strong income-producing opportunity for investors or owner occupants. This property features two separate units with a total of three bedrooms, including one spacious 2-bedroom unit and one comfortable 1-bedroom unit. Both units have been well cared for and maintained, making this a turnkey investment with solid rental potential. The layout provides flexibility for live in ownership while collecting rental income, or for investors seeking a fully leased income property. With Detroit's continued rental demand, this property offers a great return on investment (ROI) and strong long-term growth potential. Conveniently located near major roads, shopping, schools, and local amenities, this is an excellent opportunity to own a well maintained multifamily property in a high demand rental area. Schedule your showing today and take advantage of this great investment!

14. 2026-03-16
    listed $79,900 Active 1091-char remark

    Show marketing remark (1091 chars)

    Investors! Don't miss your opportunity for cash flow with this well maintained multifamily colonial located on Detroits west side. Well maintained multifamily property located on Detroit's desirable west side, offering a strong income-producing opportunity for investors or owner occupants. This property features two separate units with a total of three bedrooms, including one spacious 2-bedroom unit and one comfortable 1-bedroom unit. Both units have been well cared for and maintained, making this a turnkey investment with solid rental potential. The layout provides flexibility for live in ownership while collecting rental income, or for investors seeking a fully leased income property. With Detroit's continued rental demand, this property offers a great return on investment (ROI) and strong long-term growth potential. Conveniently located near major roads, shopping, schools, and local amenities, this is an excellent opportunity to own a well maintained multifamily property in a high demand rental area. Schedule your showing today and take advantage of this great investment!

15. 2026-01-21
    historical
16. 2026-01-21
    historical
17. 2026-01-03
    price $80,000
18. 2026-01-02
    price $80,000
19. 2025-11-20
    listed $85,000 Active
20. 2025-11-20
    listed $85,000 Active
21. 2025-10-10
    historical
22. 2025-10-10
    historical
23. 2025-09-15
    historical
24. 2025-07-20
    listed $60,000 Active
25. 2025-07-20
    listed $60,000 Active
26. 2025-07-17
    historical
27. 2025-01-23
    listed $109,000 Active
28. 2025-01-23
    listed $109,000 Active
29. 2011-02-17
    historical
30. 2011-02-17
    historical
31. 2010-12-13
    historical
32. 2010-11-29
    listed $9,900
33. 2010-11-29
    listed $9,900
34. 2010-11-29
    listed $9,900
35. 2010-11-29
    historical
36. 2010-09-20
    listed $9,900
37. 2005-01-27
    historical
38. 2004-07-29
    listed $110,000
39. 2003-11-12
    soldstatus $110,000
40. 2003-05-28
    historical
41. 2003-03-05
    listed $108,000
42. 2002-10-28
    soldstatus $72,000
43. 2002-09-17
    historical
44. 2002-05-30
    listed $79,900
45. 2001-06-01
    soldstatus $79,000
46. 1997-08-04
    soldstatus $65,000
47. 1991-11-04
    soldstatus $17,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥95°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: $21,660
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,733
• − Management: −$1,733
• − Depreciation: −$2,179
• Taxable income: $10,322
• Est. tax owed @ 24.0%: −$2,477
• After-tax cash flow: $8,423/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+340.6% since first listed

37 events — show timeline

• 2026-04-29 Price Changed $74,900 MiRealSource-MiMLS
• 2026-04-29 Price Changed $74,900 REALCOMP
• 2026-03-16 Listed $79,900 REALCOMP
• 2026-03-16 Listed $79,900 MiRealSource-MiMLS
• 2026-01-21 Listing Removed — MiRealSource-MiMLS
• 2026-01-21 Listing Removed — REALCOMP
• 2026-01-03 Price Changed $80,000 MiRealSource-MiMLS
• 2026-01-02 Price Changed $80,000 REALCOMP
• 2025-11-20 Listed $85,000 REALCOMP
• 2025-11-20 Listed $85,000 MiRealSource-MiMLS
• 2025-10-10 Listing Removed — REALCOMP
• 2025-10-10 Listing Removed — MiRealSource-MiMLS
• 2025-09-15 Listing Removed — MiRealSource-MiMLS
• 2025-07-20 Listed $60,000 REALCOMP
• 2025-07-20 Listed $60,000 MiRealSource-MiMLS
• 2025-07-17 Coming Soon — MiRealSource-MiMLS
• 2025-01-23 Listed $109,000 REALCOMP
• 2025-01-23 Listed $109,000 MiRealSource-MiMLS
• 2011-02-17 Listing Removed — MiRealSource-MiMLS
• 2011-02-17 Listing Removed — REALCOMP
• 2010-12-13 Listing Removed — MiRealSource-MiMLS
• 2010-11-29 Listing Removed — REALCOMP
• 2010-11-29 Listed $9,900 MiRealSource-MiMLS
• 2010-11-29 Listed $9,900 REALCOMP
• 2010-11-29 Listed $9,900 MiRealSource-MiMLS
• 2010-09-20 Listed $9,900 REALCOMP
• 2005-01-27 Listing Removed — MiRealSource-MiMLS
• 2004-07-29 Listed $110,000 MiRealSource-MiMLS
• 2003-11-12 Sold (Public Records) $110,000 Public Records
• 2003-05-28 Listing Removed — REALCOMP
• 2003-03-05 Listed $108,000 REALCOMP
• 2002-10-28 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2002-09-17 Listing Removed — MiRealSource-MiMLS
• 2002-05-30 Listed $79,900 MiRealSource-MiMLS
• 2001-06-01 Sold (Public Records) $79,000 Public Records
• 1997-08-04 Sold (Public Records) $65,000 Public Records
• 1991-11-04 Sold (Public Records) $17,000 Public Records

Property tax history

-21.9%/yr

Latest (2025): $130 · -97.3% YoY. Source: county tax records.