6362 Globe St · Detroit, MI 48238

$22,500

2 bd · 1.0 ba · 888 sqft · SingleFamily public records · 39 Days on market

Built 1924 3,920 sqft lot

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect investment opportunity in Detroit. Fix and flip, or great for a fix and hold as well! New roof and front door installed end of 2025!

Key facts

• Front door installed
• New roof
• 3,920 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• NEW ROOF
• FRONT DOOR INSTALLED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $771 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $22k (3.0% below list) — sets the bar for market timing.
• Cap rate 47.4% 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: Rents rising fast (+6.1%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 42% of the median local income ($33k/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 $156 of loan paydown is wiped out by about $675 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 + 6.1% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $9k; list at $22k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,825 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.21% ✓
• Cap rate: 47.43%
• Cash-on-cash: 146.92%
• DSCR: 7.54
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $46,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6362 Globe St	0.00mi	2/1.0	888 (0%)	0mo	$15,000	$17	100
15798 Muirland St	0.43mi	2/1.0	943 (+6%)	1mo	$29,000	$31	68
15893 Alden St	0.58mi	2/1.5	836 (-6%)	1mo	$24,000	$29	61
15488 Wildemere St	0.49mi	3/1.0 (+1)	949 (+7%)	1mo	$49,900	$53	60
16898 Lilac St	0.68mi	2/1.0	814 (-8%)	0mo	$62,000	$76	54
16665 Tuller St	0.63mi	3/1.0 (+1)	960 (+8%)	1mo	$25,000	$26	51
15774 Muirland St	0.43mi	2/1.0	1,018 (+15%)	10mo	$35,000	$34	47
16200 Lawton St	0.69mi	3/1.0 (+1)	956 (+8%)	4mo	$56,500	$59	47
14890 Holmur St	0.54mi	2/1.0	779 (-12%)	10mo	$40,598	$52	46
16135 Cherrylawn St	0.71mi	3/1.0 (+1)	816 (-8%)	7mo	$70,000	$86	42
16519 Monica St	0.41mi	3/2.0 (+1)	1,000 (+13%)	10mo	$165,000	$165	42
14601 San Juan Dr	0.73mi	3/1.5 (+1)	816 (-8%)	4mo	$37,000	$45	42

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.83×
• Total profit: $49,321
• Equity at exit: $3,355

10-year hold

• IRR: —
• Equity multiple: 20.53×
• Total profit: $123,011
• Equity at exit: $1,945

Cash invested: $6,300 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,173 high
• Mortgage (P&I): −$118
• Tax est. 1.5%: −$28 /mo · $338/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $771

Break-even live

Break-even rent $197

Max offer price $22,500

Occupancy floor 29%

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.14mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.35mi
14950 Stoepel St Detroit, MI	2.0	1.0	600	$900	$1.50	24d	1	0.48mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.61mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.65mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	0.74mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.74mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.75mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	17d	1	0.76mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.76mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	0.76mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.80mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.82mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	44d	1	0.86mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.86mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.88mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	0.94mi
3808 Kendall St Unit 3 Detroit, MI	1.0	1.0	550	$700	$1.27	44d	1	0.95mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	0.96mi
2623 W McNichols Rd Unit 23106 Detroit, MI	1.0	1.0	750	$1,075	$1.43	44d	1	0.96mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.97mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	0.98mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	1.00mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.01mi
1875 Ewald Cir Unit 2E Detroit, MI	1.0	1.0	725	$875	$1.21	5d	1	1.02mi
2341 Ewald Cir Unit 3 Detroit, MI	1.0	1.0	600	$900	$1.50	44d	1	1.03mi
1705 Oakman Blvd Unit 5 Detroit, MI	1.0	1.0	650	$895	$1.38	44d	1	1.07mi
1705 Oakman Blvd Unit 10 Detroit, MI	1.0	1.0	650	$895	$1.38	24d	1	1.07mi
3266 Pasadena St Unit 3 Detroit, MI	1.0	1.0	696	$700	$1.01	44d	1	1.13mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	1.13mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	1.17mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.18mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	1.18mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.19mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	44d	1	1.29mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	1.29mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	1.29mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	44d	1	1.31mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	1.31mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.34mi

Listing history 10 events

1. 2026-04-07
   status Pending

   Show marketing remark (140 chars)

   Perfect investment opportunity in Detroit. Fix and flip, or great for a fix and hold as well! New roof and front door installed end of 2025!

2. 2026-04-07
   status Pending 140-char remark

   Show marketing remark (140 chars)

   Perfect investment opportunity in Detroit. Fix and flip, or great for a fix and hold as well! New roof and front door installed end of 2025!

3. 2026-02-27
   listed $22,500 Active

   Show marketing remark (140 chars)

   Perfect investment opportunity in Detroit. Fix and flip, or great for a fix and hold as well! New roof and front door installed end of 2025!

4. 2026-02-27
   listed $22,500 Active 140-char remark

   Show marketing remark (140 chars)

   Perfect investment opportunity in Detroit. Fix and flip, or great for a fix and hold as well! New roof and front door installed end of 2025!

5. 2020-07-23
   status Pending 289-char remark

   Show marketing remark (289 chars)

   LIVE NEAR DETROIT'S AVENUE OF FASHION! Walking Distance to University of Detroit Mercy and attractions. 15 minute commute to Downtown straight from the lodge freeway! So much potential in a HOT area of Detroit. Home will be sold on a warranty deed at closing. Measurements are approximate.

6. 2020-07-23
   status Pending

   Show marketing remark (289 chars)

   LIVE NEAR DETROIT'S AVENUE OF FASHION! Walking Distance to University of Detroit Mercy and attractions. 15 minute commute to Downtown straight from the lodge freeway! So much potential in a HOT area of Detroit. Home will be sold on a warranty deed at closing. Measurements are approximate.

7. 2020-06-25
   soldstatus $9,000 Sold

   Show marketing remark (289 chars)

   LIVE NEAR DETROIT'S AVENUE OF FASHION! Walking Distance to University of Detroit Mercy and attractions. 15 minute commute to Downtown straight from the lodge freeway! So much potential in a HOT area of Detroit. Home will be sold on a warranty deed at closing. Measurements are approximate.

8. 2020-06-25
   soldstatus $9,000 Closed 289-char remark

   Show marketing remark (289 chars)

   LIVE NEAR DETROIT'S AVENUE OF FASHION! Walking Distance to University of Detroit Mercy and attractions. 15 minute commute to Downtown straight from the lodge freeway! So much potential in a HOT area of Detroit. Home will be sold on a warranty deed at closing. Measurements are approximate.

9. 2020-01-30
   listed $15,500 Active

   Show marketing remark (289 chars)

   LIVE NEAR DETROIT'S AVENUE OF FASHION! Walking Distance to University of Detroit Mercy and attractions. 15 minute commute to Downtown straight from the lodge freeway! So much potential in a HOT area of Detroit. Home will be sold on a warranty deed at closing. Measurements are approximate.

10. 2020-01-30
    listed $15,500 Active 289-char remark

    Show marketing remark (289 chars)

    LIVE NEAR DETROIT'S AVENUE OF FASHION! Walking Distance to University of Detroit Mercy and attractions. 15 minute commute to Downtown straight from the lodge freeway! So much potential in a HOT area of Detroit. Home will be sold on a warranty deed at closing. Measurements are approximate.

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,078
• − Mortgage interest: −$1,260
• − Property taxes: −$338
• − Insurance: −$112
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$655
• Taxable income: $9,461
• Est. tax owed @ 24.0%: −$2,271
• After-tax cash flow: $6,985/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+45.2% since first listed

10 events — show timeline

• 2026-04-07 Pending — REALCOMP
• 2026-04-07 Pending — MiRealSource-MiMLS
• 2026-02-27 Listed $22,500 MiRealSource-MiMLS
• 2026-02-27 Listed $22,500 REALCOMP
• 2020-07-23 Pending — MiRealSource-MiMLS
• 2020-07-23 Pending — REALCOMP
• 2020-06-25 Sold (MLS) $9,000 MiRealSource-MiMLS
• 2020-06-25 Sold (MLS) $9,000 REALCOMP
• 2020-01-30 Listed $15,500 MiRealSource-MiMLS
• 2020-01-30 Listed $15,500 REALCOMP

Property tax history

+9.8%/yr

Latest (2025): $1,361 · -54.0% YoY. Source: county tax records.