5181 Holcomb St · Detroit, MI 48213

$32,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 427 Days on market

Built 1913 6,098 sqft lot $28/sqft · 19% below area Est $39k · 19% under ↓ 9% since listing

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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 +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Offer fell apart, back on the market. This home was once a gem. .. family-owned for over 80 years. The estate to sale has been approved in probate court at the list price. Calling all investors to make this property a gem again. BATVAI

Key facts

• 6,098 sq ft lot
• Built 1913
• Listed 427 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $786 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $28k (12.0% below list) — sets the bar for market timing.
• Cap rate 35.8% 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; 28 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 $1,300/mo this rent would consume 46% 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 $221 of loan paydown is wiped out by about $960 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 427 days — a 12% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 427 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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: 4.06% ✓
• Cap rate: 35.76%
• Cash-on-cash: 105.24%
• DSCR: 5.68
• GRM: 2.1

CMA / ARV

• ARV (median comp): $39,363
• List price: $32,000
• Delta: -18.71%
• 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
5327 Holcomb St	0.04mi	3/2.0	1,046 (-7%)	5mo	$30,000	$29	78
5232 Mcclellan St	0.15mi	3/1.0	1,001 (-11%)	0mo	$33,000	$33	74
5049 Pennsylvania St	0.29mi	3/1.0	1,046 (-7%)	6mo	$15,000	$14	70
4533 Mcclellan St	0.44mi	3/1.0	1,194 (+6%)	7mo	$86,000	$72	64
6156 Iroquois St	0.63mi	2/1.0 (-1)	1,148 (+2%)	3mo	$50,000	$44	60
5832 Garland St	0.69mi	3/1.0	1,169 (+4%)	6mo	$29,900	$26	56
4673 French Rd	0.73mi	3/1.0	1,060 (-6%)	7mo	$16,500	$16	50
4143 Holcomb St	0.63mi	3/1.0	962 (-15%)	1mo	$15,000	$16	46
5855 Hurlbut St	0.55mi	3/1.0	1,296 (+15%)	5mo	$119,900	$93	45
6026 Maxwell St	0.66mi	4/1.0 (+1)	1,266 (+12%)	2mo	$10,000	$8	42
6130 Maxwell St	0.71mi	3/1.0	958 (-15%)	4mo	$40,000	$42	38
3872 Fischer St	0.73mi	3/1.0	1,288 (+14%)	9mo	$62,500	$49	34

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: 6.01×
• Total profit: $44,894
• Equity at exit: $4,771

10-year hold

• IRR: —
• Equity multiple: 12.57×
• Total profit: $103,667
• Equity at exit: $2,767

Cash invested: $8,960 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,300 high
• Mortgage (P&I): −$168
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $786

Break-even live

Break-even rent $306

Max offer price $32,000

Occupancy floor 35%

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.24mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	1d	1	0.29mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	1d	1	0.29mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	17d	1	0.47mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	17d	1	0.47mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	0.48mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	0.64mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	0.69mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	0.70mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	0.79mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	0.88mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	0.89mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	43d	1	0.95mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	1.03mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	43d	1	1.04mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	1.12mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	1.13mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	1.14mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	1.16mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	1.17mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	43d	1	1.17mi
3980 Helen St Detroit, MI	2.0	1.0	800	$845	$1.06	16d	1	1.19mi
3049 Montclair St Unit 1 Detroit, MI	2.0	1.0	850	$950	$1.12	43d	1	1.24mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	1.30mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	23d	1	1.35mi
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	43d	1	1.36mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	1.42mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $32,000 Active 427 DOM
2. 2026-06-17
   days on market $32,000 Active 426 DOM
3. 2026-06-15
   days on market $32,000 Active 424 DOM
4. 2026-06-13
   days on market $32,000 Active 422 DOM
5. 2026-06-13
   days on market $32,000 Active 421 DOM
6. 2026-06-09
   days on market $32,000 Active 418 DOM
7. 2026-06-08
   days on market $32,000 Active 417 DOM
8. 2026-06-07
   days on market $32,000 Active 416 DOM
9. 2026-06-04
   days on market $32,000 Active 413 DOM
10. 2026-06-03
    days on market $32,000 Active 412 DOM
11. 2026-06-01
    days on market $32,000 Active 410 DOM
12. 2026-05-31
    days on market $32,000 Active 409 DOM
13. 2025-09-07
    price $32,000 235-char remark

    Show marketing remark (235 chars)

    Offer fell apart, back on the market. This home was once a gem. .. family-owned for over 80 years. The estate to sale has been approved in probate court at the list price. Calling all investors to make this property a gem again. BATVAI

14. 2025-09-06
    price $32,000 235-char remark

    Show marketing remark (235 chars)

    Offer fell apart, back on the market. This home was once a gem. .. family-owned for over 80 years. The estate to sale has been approved in probate court at the list price. Calling all investors to make this property a gem again. BATVAI

15. 2025-04-17
    listed $35,000 Active 235-char remark

    Show marketing remark (235 chars)

    Offer fell apart, back on the market. This home was once a gem. .. family-owned for over 80 years. The estate to sale has been approved in probate court at the list price. Calling all investors to make this property a gem again. BATVAI

16. 2025-04-17
    listed $35,000 Active 235-char remark

    Show marketing remark (235 chars)

    Offer fell apart, back on the market. This home was once a gem. .. family-owned for over 80 years. The estate to sale has been approved in probate court at the list price. Calling all investors to make this property a gem again. BATVAI

ⓘ 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: $724 · $60/mo
• Projected year-2 tax: $724 · $60/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: $15,604
• − Mortgage interest: −$1,792
• − Property taxes: −$724
• − Insurance: −$160
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$931
• Taxable income: $9,500
• Est. tax owed @ 24.0%: −$2,280
• After-tax cash flow: $7,149/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

-8.6% since first listed

4 events — show timeline

• 2025-09-07 Price Changed $32,000 MiRealSource-MiMLS
• 2025-09-06 Price Changed $32,000 REALCOMP
• 2025-04-17 Listed $35,000 REALCOMP
• 2025-04-17 Listed $35,000 MiRealSource-MiMLS

Property tax history

-1.4%/yr

Latest (2025): $724 · -9.6% YoY. Source: county tax records.