4840 Saint Clair St · Detroit, MI 48214

$130,000

4 bd · 2.0 ba · 2,062 sqft · MultiFamily public records · 13 Days on market

Built 1916 3,485 sqft lot

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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 +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Excellent investment opportunity! Fully rented 2-unit multifamily property located in Detroit's east side. Each unit offers approximately 1,008 square feet of living space. The lower unit is currently leased for $960 per month, and the upper unit is leased for $650 per month, providing immediate rental income. This well-maintained duplex features separate upper and lower apartments, making it an ideal addition to an investor's portfolio. Strong cash-flow potential with established tenants already in place. Conveniently located near major roadways, shopping, schools, and downtown Detroit amenities. Tenant occupied. Please do not disturb tenants. Showings available with accepted offer.

Key facts

• Multifamily property
• Conveniently located
• 3,485 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY PROPERTY
• STRONG CASH-FLOW POTENTIAL
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Pets: contact for policy
• Financial info: Actual rent: one unit at $960, the other at $650
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Sewer available
• Home design: Multi-family residential income property; Two-story building; Entry level information not provided; Facing direction not provided
• Construction: Brick and vinyl siding exterior; Block foundation; Above grade finished area: 2,062 total square feet; Built-year information not provided
• Exterior features: Balcony; Patio; Porch; Paved road access; Residential zoning

Interior

• Kitchen: No appliance details provided
• Bedrooms: Two 2-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 full bathroom; Building total: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive. Per door: $339/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 12.6% vs local median 10.1% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 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 $2,091/mo this rent would consume 75% 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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 12y 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.
• Current owner paid $70k; list at $130k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.61% ✓
• Cap rate: 12.56%
• Cash-on-cash: 22.37%
• DSCR: 2.00
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $55,674
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5088-86 Bewick St	0.16mi	4/2.0	1,986 (-4%)	3mo	$38,500	$19	84
4666 Lillibridge St	0.35mi	4/2.0	1,824 (-12%)	7mo	$35,000	$19	58
3918 Lillibridge St	0.59mi	4/2.0	1,856 (-10%)	1mo	$15,000	$8	55
9340 Moffat St	0.46mi	4/2.0	1,836 (-11%)	12mo	$155,000	$84	50
4011 Beniteau St	0.55mi	4/2.0	2,176 (+6%)	20mo	$117,800	$54	49
4206 Cadillac Blvd	0.45mi	5/2.5 (+1)	1,855 (-10%)	15mo	$175,000	$94	43
4819 Mcclellan St	0.49mi	5/2.0 (+1)	2,266 (+10%)	20mo	$30,000	$13	39
4125 Holcomb St	0.74mi	4/2.0	1,878 (-9%)	21mo	$50,500	$27	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: 15.2%
• Equity multiple: 1.61×
• Total profit: $22,230
• Equity at exit: $19,383

10-year hold

• IRR: 23.9%
• Equity multiple: 3.07×
• Total profit: $75,323
• Equity at exit: $11,240

Cash invested: $36,400 (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: 10.4×

Monthly cashflow live

• Estimated rent: $2,091 high
• Mortgage (P&I): −$682
• Tax from tax record: −$237 /mo · $2,849/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $679

Break-even live

Break-even rent $1,232

Max offer price $130,000

Occupancy floor 63%

Sensitivity live

Price	-10% $752	-5% $715	+0% $679	+5% $642	+10% $605
Rent	-10% $513	-5% $596	+0% $679	+5% $761	+10% $844
Rate	-1.0pp $744	-0.5pp $712	base $679	+0.5pp $645	+1.0pp $611

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,092
Total (2 units)			$2,091

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4510 Harding St Detroit, MI	3.0	1.0	2394	$1,500	$0.63	18d	1	0.20mi

Listing history 9 events

1. 2026-06-21
   days on market $130,000 Active 13 DOM
2. 2026-06-18
   days on market $130,000 Active 10 DOM
3. 2026-06-17
   days on market $130,000 Active 9 DOM
4. 2026-06-16
   days on market $130,000 Active 8 DOM
5. 2026-06-15
   days on market $130,000 Active 7 DOM
6. 2026-06-13
   days on market $130,000 Active 5 DOM
7. 2026-06-13
   days on market $130,000 Active 4 DOM
8. 2026-06-08
   remarks 687-char remark

   Show marketing remark (692 chars)

   Excellent investment opportunity! Fully rented 2-unit multifamily property located in Detroit's east side. Each unit offers approximately 1,008 square feet of living space. The lower unit is currently leased for $960 per month, and the upper unit is leased for $650 per month, providing immediate rental income. This well-maintained duplex features separate upper and lower apartments, making it an ideal addition to an investor's portfolio. Strong cash-flow potential with established tenants already in place. Conveniently located near major roadways, shopping, schools, and downtown Detroit amenities. Tenant occupied. Please do not disturb tenants. Showings available with accepted offer.

9. 2026-06-08
   listed $130,000 Active 1 DOM

   Show marketing remark (692 chars)

   Excellent investment opportunity! Fully rented 2-unit multifamily property located in Detroit's east side. Each unit offers approximately 1,008 square feet of living space. The lower unit is currently leased for $960 per month, and the upper unit is leased for $650 per month, providing immediate rental income. This well-maintained duplex features separate upper and lower apartments, making it an ideal addition to an investor's portfolio. Strong cash-flow potential with established tenants already in place. Conveniently located near major roadways, shopping, schools, and downtown Detroit amenities. Tenant occupied. Please do not disturb tenants. Showings available with accepted offer.

ⓘ 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: $2,849 · $237/mo
• Projected year-2 tax: $2,849 · $237/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: $25,092
• − Mortgage interest: −$7,282
• − Property taxes: −$2,849
• − Insurance: −$650
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − Depreciation: −$3,782
• Taxable income: $6,514
• Est. tax owed @ 24.0%: −$1,563
• After-tax cash flow: $6,579/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

+103.1% since first listed

23 events — show timeline

• 2026-06-08 Listed $130,000 REALCOMP
• 2026-06-08 Listed $130,000 MiRealSource-MiMLS
• 2026-03-16 Listing Removed — REALCOMP
• 2026-03-16 Listing Removed — MiRealSource-MiMLS
• 2025-09-16 Listed $169,000 REALCOMP
• 2025-09-15 Listed $169,000 MiRealSource-MiMLS
• 2022-01-26 Sold (Public Records) $70,000 Public Records
• 2022-01-10 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2022-01-10 Sold (MLS) $70,000 REALCOMP
• 2021-12-31 Pending — MiRealSource-MiMLS
• 2021-12-31 Pending — REALCOMP
• 2021-12-31 Relisted — MiRealSource-MiMLS
• 2021-12-22 Listing Removed — MiRealSource-MiMLS
• 2021-12-21 Relisted — REALCOMP
• 2021-11-10 Pending — MiRealSource-MiMLS
• 2021-11-10 Pending — REALCOMP
• 2021-10-22 Listed $74,900 MiRealSource-MiMLS
• 2021-10-22 Listed $74,900 REALCOMP
• 2014-12-31 Listing Removed — MiRealSource-MiMLS
• 2014-10-02 Listed $15,000 MiRealSource-MiMLS
• 2014-08-22 Listing Removed — MiRealSource-MiMLS
• 2014-03-22 Listed $15,000 MiRealSource-MiMLS
• 2006-04-24 Sold (Public Records) $64,000 Public Records

Property tax history

+15.4%/yr

Latest (2025): $2,849 · +5.0% YoY. Source: county tax records.