14190 Pierson St · Detroit, MI 48223

$104,999

3 bd · 1.0 ba · 456 sqft · SingleFamily public records · 23 Days on market

Built 1925 6,098 sqft lot

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Why this score? — see what drove the C 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• 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

Beautifully fully updated home near schools and major free ways ! Located in the Brightmoor neighborhood on the northwest side of Detroit, This home features a stunning kitchen with granite countertops and white cabinets , beautifully finished ceramic bathroom, an electric fireplace in the living room, and a spacious kitchen and dining area perfect for entertaining. Everything has been updated for worry-free living : including the roof, insulation, electrical system, windows, water heater & furnace. A truly move-in ready home with modern finishes and major improvements already completed.

Key facts

• 6,098 sq ft lot
• Built 1925
• Listed 22 days

Property features AI

Exterior

• Utilities: Public water; Water heater: Electric and Gas
• Home design: Residential property; 1 1/2-story structure; Built in 1925
• Construction: Vinyl siding exterior; Crawl space foundation
• Exterior features: Paved street frontage; Frontage approximately 51 feet

Interior

• Kitchen: Kitchen (Entry level) — 16 x 10; Dining room (Entry level) — 8 x 18; Living room (Entry level) — 21 x 9
• Bedrooms: Bedroom 1 (Entry level) — 12 x 14; Bedroom 2 (Entry level) — 12 x 10; Bedroom 3 (Entry level) — 8 (width listed as 8)
• Bathrooms: 1 full bathroom (Entry level) — approximately 5 x 9
• Heating & cooling: Forced air heating; Natural gas heat/fuel
• Interior features: 10 total rooms
• Laundry & utility: Laundry room (Entry level) — 9 x 5

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.

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: 161 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($45k/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 $726 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask is 200% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,424 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 1.12% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.12%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $310
• Equity at exit: $15,656

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $22,510
• Equity at exit: $9,078

Cash invested: $29,400 (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 48223

• Active inventory: 161
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,177 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$63 /mo · $754/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $272

Break-even live

Break-even rent $832

Max offer price $104,999

Occupancy floor 72%

Sensitivity live

Price	-10% $332	-5% $302	+0% $272	+5% $243	+10% $213
Rent	-10% $179	-5% $226	+0% $272	+5% $319	+10% $365
Rate	-1.0pp $325	-0.5pp $299	base $272	+0.5pp $245	+1.0pp $217

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $104,999 Active 23 DOM
2. 2026-06-18
   days on market $104,999 Active 20 DOM
3. 2026-06-17
   days on market $104,999 Active 19 DOM
4. 2026-06-15
   days on market $104,999 Active 17 DOM
5. 2026-06-13
   days on market $104,999 Active 15 DOM
6. 2026-06-13
   days on market $104,999 Active 14 DOM
7. 2026-06-09
   days on market $104,999 Active 11 DOM
8. 2026-06-08
   days on market $104,999 Active 10 DOM
9. 2026-06-07
   days on market $104,999 Active 9 DOM
10. 2026-06-04
    days on market $104,999 Active 6 DOM
11. 2026-06-03
    days on market $104,999 Active 5 DOM
12. 2026-06-02
    days on market $104,999 Active 4 DOM
13. 2026-06-01
    days on market $104,999 Active 3 DOM
14. 2026-05-31
    days on market $104,999 Active 2 DOM
15. 2026-05-27
    historical $104,999
16. 2003-07-09
    historical
17. 2003-05-09
    listed $35,000
18. 2003-05-08
    historical
19. 2003-04-11
    listed $40,000
20. 2003-03-05
    historical
21. 2002-09-05
    listed $45,000

ⓘ 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: $754 · $63/mo
• Projected year-2 tax: $1,185 · $99/mo
• Expected delta: +$432/yr (+$36/mo · 57.3%)

ⓘ 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 ≥99°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: $14,120
• − Mortgage interest: −$5,882
• − Property taxes: −$754
• − Insurance: −$525
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$3,055
• Taxable income: $1,646
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $2,874/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• 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: ▼ -303.41%
• Current HPI: 138.2779
• 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

+133.3% since first listed

7 events — show timeline

• 2026-05-27 Coming Soon $104,999 MiRealSource-MiMLS
• 2003-07-09 Listing Removed — REALCOMP
• 2003-05-09 Listed $35,000 REALCOMP
• 2003-05-08 Listing Removed — REALCOMP
• 2003-04-11 Listed $40,000 REALCOMP
• 2003-03-05 Listing Removed — REALCOMP
• 2002-09-05 Listed $45,000 REALCOMP

Property tax history

+7.9%/yr

Latest (2025): $754 · +14.1% YoY. Source: county tax records.