Depending on exactly where we are talking in the Detroit Shoreway it may be worth more as a renovated vacant property to a millennial type buyer but getting anymore than $114k for a $1,500 rental isn't likely.

https://amp.businessinsider.com/millennials-vs-baby-boomers-big-houses-real-estate-market-problems-2019-3?

Hi All,First, thank you for taking some time to read my post. I am a long-time investor, but, relatively new to apartment/multi-family. My primary investments are in hedge funds as this has been my business for 30 yea...

People who want to be near entertainment centers and nightlife are generally young, hipster type millennials.

@Alex Pinkney Hi Alex, as a millennial, I have!

@Steve Vaughan Respectfully, throwing "millennials" into a category of people who had no responsibilities and thus not impacted by the financial crisis is short sighted.

Try to keep cool/neat/unique things in the park that millennial's would like, for example, maintained playground for kids, muscle beach style outdoor workout area for adults, a neat trail system inside the park itself for dog walkers, a community BBQ area, etc...

It's just... you know... us millennials want everything right now.

The hot areas are going to owner - occupied millennials, first time home buyers, and first time house hacking investors.  

I think there is a definite correlation when rents get to high that younger or credit worthy will jump to housing.. this whole thought of a 100k a year millennial renting because they don't want to be tied down is going to die out.. as they realize they are throwing money away..