8049 Wetherby St · Detroit, MI 48204

$79,900

3 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 62 Days on market

Built 1924 3,049 sqft lot $65/sqft · 139% above area

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.7/10.0
• 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

Listing remarks MLS

Welcome to 8049 Wetherby! Great turnkey rental , 3 bedroom and 1 bathroom , Located in a desirable neighborhood of Detroit . Property is tenanted . Need 24 hour notice to show . Bring all offers. Sold As is . BTVAI

Key facts

• 3,049 sq ft lot
• Built 1924
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: 248 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 41% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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 $64k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.47% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.23%
• DSCR: 1.99
• GRM: 5.7

CMA / ARV

• ARV (median comp): $33,493
• List price: $79,900
• Delta: 138.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7722 Wykes St	0.22mi	3/1.0	1,148 (-6%)	4mo	$40,000	$35	76
8801 Monica St	0.46mi	3/1.0	1,176 (-4%)	1mo	$120,000	$102	72
7007 Joy Rd	0.44mi	4/1.0 (+1)	1,200 (-2%)	0mo	$85,000	$71	71
8127 American St	0.23mi	4/1.0 (+1)	1,317 (+8%)	8mo	$29,000	$22	65
5362 Allendale St	0.72mi	3/1.0	1,200 (-2%)	2mo	$70,000	$58	62
5327 Vancouver St	0.71mi	3/1.0	1,274 (+4%)	5mo	$40,000	$31	56
5357 Spokane Ave	0.67mi	3/1.5	1,288 (+5%)	6mo	$47,997	$37	53
8070 Wisconsin St	0.71mi	3/1.0	1,200 (-2%)	14mo	$70,000	$58	52
6369 Diversey St	0.24mi	3/2.0	1,050 (-14%)	13mo	$77,000	$73	50
7540 Holmes St	0.64mi	3/1.0	1,129 (-8%)	14mo	$30,000	$27	45
5524 Seebaldt St	0.67mi	4/2.5 (+1)	1,323 (+8%)	5mo	$144,000	$109	40
5297 Vancouver St	0.74mi	4/1.5 (+1)	1,363 (+11%)	4mo	$60,000	$44	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.9%
• Equity multiple: 4.12×
• Total profit: $69,901
• Equity at exit: $71,980

10-year hold

• IRR: 35.3%
• Equity multiple: 9.27×
• Total profit: $185,081
• Equity at exit: $155,228

Cash invested: $22,372 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$419
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $414

Break-even live

Break-even rent $650

Max offer price $79,900

Occupancy floor 60%

Sensitivity live

Price	-10% $460	-5% $437	+0% $414	+5% $392	+10% $369
Rent	-10% $322	-5% $368	+0% $414	+5% $461	+10% $507
Rate	-1.0pp $455	-0.5pp $435	base $414	+0.5pp $394	+1.0pp $373

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	0.38mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	0.45mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	25d	1	0.55mi
8544 Cloverlawn St Detroit, MI	2.0	1.0	800	$800	$1.00	18d	1	0.63mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	18d	1	0.66mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	25d	1	0.69mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	0d	1	0.74mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	0.83mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	45d	1	0.86mi
5440 Milford St Unit 1 Detroit, MI	2.0	1.0	850	$1,150	$1.35	45d	1	0.89mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	18d	1	1.01mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	23d	1	1.12mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	45d	1	1.14mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	6d	1	1.16mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	45d	1	1.17mi
9353 Kentucky St Detroit, MI	2.0	1.0	800	$999	$1.25	18d	1	1.20mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	25d	1	1.26mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	25d	1	1.26mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.31mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	45d	1	1.37mi
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	4d	1	1.43mi
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	45d	1	1.44mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	45d	1	1.46mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	25d	1	1.49mi

Listing history 39 events

1. 2026-06-21
   days on market $79,900 Active 62 DOM
2. 2026-06-18
   days on market $79,900 Active 59 DOM
3. 2026-06-17
   days on market $79,900 Active 58 DOM
4. 2026-06-15
   days on market $79,900 Active 56 DOM
5. 2026-06-13
   days on market $79,900 Active 54 DOM
6. 2026-06-13
   days on market $79,900 Active 53 DOM
7. 2026-06-09
   days on market $79,900 Active 50 DOM
8. 2026-06-08
   days on market $79,900 Active 49 DOM
9. 2026-06-07
   days on market $79,900 Active 48 DOM
10. 2026-06-04
    days on market $79,900 Active 45 DOM
11. 2026-06-03
    days on market $79,900 Active 44 DOM
12. 2026-06-02
    days on market $79,900 Active 43 DOM
13. 2026-06-01
    days on market $79,900 Active 42 DOM
14. 2026-05-31
    days on market $79,900 Active 41 DOM
15. 2026-04-20
    listed $79,900 Active 214-char remark

    Show marketing remark (214 chars)

    Welcome to 8049 Wetherby! Great turnkey rental , 3 bedroom and 1 bathroom , Located in a desirable neighborhood of Detroit . Property is tenanted . Need 24 hour notice to show . Bring all offers. Sold As is . BTVAI

16. 2026-04-20
    listed $79,900 Active 214-char remark

    Show marketing remark (214 chars)

    Welcome to 8049 Wetherby! Great turnkey rental , 3 bedroom and 1 bathroom , Located in a desirable neighborhood of Detroit . Property is tenanted . Need 24 hour notice to show . Bring all offers. Sold As is . BTVAI

17. 2022-11-29
    soldstatus $64,000
18. 2022-11-02
    historical
19. 2022-11-02
    status Active
20. 2022-09-30
    historical
21. 2022-09-12
    status Pending
22. 2022-09-12
    status Pending
23. 2022-08-25
    historical Accepting Backup Offers
24. 2022-08-25
    historical Accepting Backup Offers
25. 2022-08-16
    price $65,000
26. 2022-08-16
    price $65,000
27. 2022-08-08
    price $69,900
28. 2022-08-08
    price $69,900
29. 2022-07-16
    price $79,900
30. 2022-07-15
    price $79,900
31. 2022-07-08
    listed $89,900 Active
32. 2022-07-08
    listed $89,900 Active
33. 2022-06-24
    historical
34. 2022-06-24
    historical
35. 2022-06-22
    listed $89,900 Active
36. 2022-06-22
    listed $89,900 Active
37. 2022-03-25
    price $1,400
38. 2008-10-10
    soldstatus $1,000
39. 2007-07-05
    listed $4,900

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $983 · $82/mo
• Expected delta: +$247/yr (+$21/mo · 33.6%)

ⓘ 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 ≥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: $14,096
• − Mortgage interest: −$4,476
• − Property taxes: −$736
• − Insurance: −$400
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$2,324
• Taxable income: $3,905
• Est. tax owed @ 24.0%: −$937
• After-tax cash flow: $4,035/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+1530.6% since first listed

25 events — show timeline

• 2026-04-20 Listed $79,900 REALCOMP
• 2026-04-20 Listed $79,900 MiRealSource-MiMLS
• 2022-11-29 Sold (Public Records) $64,000 Public Records
• 2022-11-02 Listing Removed — MiRealSource-MiMLS
• 2022-11-02 Relisted — REALCOMP
• 2022-09-30 Listing Removed — REALCOMP
• 2022-09-12 Pending — MiRealSource-MiMLS
• 2022-09-12 Pending — REALCOMP
• 2022-08-25 Contingent — MiRealSource-MiMLS
• 2022-08-25 Contingent — REALCOMP
• 2022-08-16 Price Changed $65,000 MiRealSource-MiMLS
• 2022-08-16 Price Changed $65,000 REALCOMP
• 2022-08-08 Price Changed $69,900 MiRealSource-MiMLS
• 2022-08-08 Price Changed $69,900 REALCOMP
• 2022-07-16 Price Changed $79,900 MiRealSource-MiMLS
• 2022-07-15 Price Changed $79,900 REALCOMP
• 2022-07-08 Listed $89,900 MiRealSource-MiMLS
• 2022-07-08 Listed $89,900 REALCOMP
• 2022-06-24 Listing Removed — REALCOMP
• 2022-06-24 Listing Removed — MiRealSource-MiMLS
• 2022-06-22 Listed $89,900 MiRealSource-MiMLS
• 2022-06-22 Listed $89,900 REALCOMP
• 2022-03-25 Price Changed $1,400 RENT.
• 2008-10-10 Sold (MLS) $1,000 REALCOMP
• 2007-07-05 Listed $4,900 REALCOMP

Property tax history

-4.8%/yr

Latest (2025): $736 · -53.3% YoY. Source: county tax records.