7646 Brace St · Detroit, MI 48228

$69,000

2 bd · 1.0 ba · 785 sqft · SingleFamily public records · 114 Days on market

Built 1925 4,356 sqft lot $88/sqft · at area comps Est $68k · at est.

---

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 +6.8/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 7646 Brace St, a solid Detroit home offering great potential for homeowners or investors. This property features a functional layout, a spacious living area, and a large yard perfect for outdoor use. Conveniently located near major roads, schools, and shopping, this home is ready for your personal touch. Don't miss this opportunity to add a strong property to your portfolio or make it your next home!

Key facts

• Spacious living area
• Large yard
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREA
• LARGE YARD
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 10.1% 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 soft (-2.3%/yr); 369 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• At $1,185/mo this rent would consume 46% of the median local household income ($31k/yr) (locally 4144% 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 $477 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.72% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.67%
• DSCR: 2.10
• GRM: 4.9

CMA / ARV

• ARV (median comp): $67,884
• List price: $69,000
• Delta: 1.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7313 Grandville Ave	0.39mi	2/1.0	765 (-2%)	0mo	$70,000	$92	77
8062 Grandville Ave	0.41mi	2/1.0	732 (-7%)	6mo	$60,000	$82	64
7320 Westwood St	0.42mi	3/1.0 (+1)	738 (-6%)	2mo	$115,000	$156	64
6884 Memorial Ave	0.74mi	2/1.5	786 (+0%)	1mo	$70,000	$89	62
7275 Auburn St	0.57mi	3/1.0 (+1)	803 (+2%)	5mo	$60,000	$75	60
7282 Plainview Ave	0.60mi	2/1.0	730 (-7%)	1mo	$19,000	$26	60
7756 Westwood St	0.39mi	3/1.0 (+1)	871 (+11%)	2mo	$90,000	$103	57
8309 Brace St	0.43mi	3/1.5 (+1)	864 (+10%)	1mo	$28,500	$33	55
6803 Grandville Ave	0.56mi	2/1.0	700 (-11%)	2mo	$32,000	$46	54
6783 Westwood St	0.62mi	3/1.0 (+1)	836 (+6%)	4mo	$65,000	$78	52
8686 Artesian St	0.67mi	3/1.0 (+1)	864 (+10%)	2mo	$35,000	$41	46
6387 Warwick St	0.75mi	3/1.0 (+1)	891 (+14%)	7mo	$70,000	$79	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.55×
• Total profit: $10,703
• Equity at exit: $10,288

10-year hold

• IRR: 20.6%
• Equity multiple: 2.49×
• Total profit: $28,706
• Equity at exit: $5,966

Cash invested: $19,320 (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 48228

• Rents YoY: -2.3%
• Active inventory: 369
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$362
• Tax from tax record: −$148 /mo · $1,778/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $397

Break-even live

Break-even rent $682

Max offer price $69,000

Occupancy floor 61%

Sensitivity live

Price	-10% $436	-5% $417	+0% $397	+5% $378	+10% $358
Rent	-10% $304	-5% $350	+0% $397	+5% $444	+10% $491
Rate	-1.0pp $432	-0.5pp $415	base $397	+0.5pp $379	+1.0pp $361

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	6d	1	0.44mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	45d	1	0.53mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	18d	1	0.64mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	45d	1	0.66mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	45d	1	0.67mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.70mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	45d	1	0.74mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	19d	1	0.77mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	25d	1	0.79mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	6d	1	0.82mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	0.85mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	18d	1	0.88mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	45d	1	0.89mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	18d	1	0.98mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	6d	1	1.00mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	16d	1	1.09mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	4d	10	1.15mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	3d	15	1.19mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	45d	1	1.24mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	45d	1	1.25mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	6d	1	1.26mi
20237 W Chicago Detroit, MI	1.0	1.0	650	$850	$1.31	45d	1	1.41mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	45d	1	1.44mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.48mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.48mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.48mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.49mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.49mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.49mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.49mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,061	$1.77	0d	10	1.49mi

Listing history 47 events

1. 2026-06-21
   days on market $69,000 Active 114 DOM
2. 2026-06-18
   days on market $69,000 Active 111 DOM
3. 2026-06-17
   days on market $69,000 Active 110 DOM
4. 2026-06-15
   days on market $69,000 Active 108 DOM
5. 2026-06-13
   days on market $69,000 Active 106 DOM
6. 2026-06-13
   days on market $69,000 Active 105 DOM
7. 2026-06-09
   days on market $69,000 Active 102 DOM
8. 2026-06-08
   days on market $69,000 Active 101 DOM
9. 2026-06-07
   days on market $69,000 Active 100 DOM
10. 2026-06-04
    days on market $69,000 Active 97 DOM
11. 2026-06-03
    days on market $69,000 Active 96 DOM
12. 2026-06-01
    days on market $69,000 Active 94 DOM
13. 2026-05-31
    days on market $69,000 Active 93 DOM
14. 2026-02-26
    listed $69,000 Active 414-char remark

    Show marketing remark (420 chars)

    Welcome to 7646 Brace St, a solid Detroit home offering great potential for homeowners or investors. This property features a functional layout, a spacious living area, and a large yard perfect for outdoor use. Conveniently located near major roads, schools, and shopping, this home is ready for your personal touch. Don’t miss this opportunity to add a strong property to your portfolio or make it your next home!

15. 2026-02-26
    listed $69,000 Active 420-char remark

    Show marketing remark (420 chars)

    Welcome to 7646 Brace St, a solid Detroit home offering great potential for homeowners or investors. This property features a functional layout, a spacious living area, and a large yard perfect for outdoor use. Conveniently located near major roads, schools, and shopping, this home is ready for your personal touch. Don’t miss this opportunity to add a strong property to your portfolio or make it your next home!

16. 2026-02-19
    historical
17. 2025-11-20
    listed $85,000 Active
18. 2025-11-20
    listed $85,000 Active
19. 2025-11-18
    historical
20. 2022-02-03
    historical
21. 2022-02-03
    historical
22. 2022-01-26
    price $35,000
23. 2022-01-25
    price $35,000
24. 2022-01-18
    listed $40,000 Active
25. 2022-01-18
    listed $40,000 Active
26. 2008-04-25
    historical
27. 2008-04-25
    historical
28. 2008-04-08
    listed $7,900
29. 2008-04-08
    listed $7,900
30. 2008-03-15
    historical
31. 2008-03-15
    historical
32. 2007-11-15
    listed $13,250
33. 2007-11-15
    listed $13,250
34. 2007-03-12
    soldstatus $66,000
35. 2004-09-02
    soldstatus $14,500
36. 2004-08-02
    historical
37. 2004-07-15
    historical
38. 2004-03-27
    listed $29,900
39. 2004-03-27
    listed $29,900
40. 2004-03-14
    historical
41. 2004-02-16
    listed $44,900
42. 2003-12-10
    historical
43. 2003-09-03
    listed $49,900
44. 2003-09-02
    historical
45. 2003-06-04
    listed $54,900
46. 1998-02-02
    soldstatus $48,900
47. 1996-11-25
    soldstatus $5,300

ⓘ 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: $1,778 · $148/mo
• Projected year-2 tax: $1,778 · $148/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,217
• − Mortgage interest: −$3,865
• − Property taxes: −$1,778
• − Insurance: −$345
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$2,007
• Taxable income: $3,947
• Est. tax owed @ 24.0%: −$947
• After-tax cash flow: $3,819/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+1201.9% since first listed

34 events — show timeline

• 2026-02-26 Listed $69,000 REALCOMP
• 2026-02-26 Listed $69,000 MiRealSource-MiMLS
• 2026-02-19 Listing Removed — MiRealSource-MiMLS
• 2025-11-20 Listed $85,000 MiRealSource-MiMLS
• 2025-11-20 Listed $85,000 REALCOMP
• 2025-11-18 Coming Soon — MiRealSource-MiMLS
• 2022-02-03 Listing Removed — REALCOMP
• 2022-02-03 Listing Removed — MiRealSource-MiMLS
• 2022-01-26 Price Changed $35,000 MiRealSource-MiMLS
• 2022-01-25 Price Changed $35,000 REALCOMP
• 2022-01-18 Listed $40,000 MiRealSource-MiMLS
• 2022-01-18 Listed $40,000 REALCOMP
• 2008-04-25 Listing Removed — MiRealSource-MiMLS
• 2008-04-25 Listing Removed — REALCOMP
• 2008-04-08 Listed $7,900 MiRealSource-MiMLS
• 2008-04-08 Listed $7,900 REALCOMP
• 2008-03-15 Listing Removed — MiRealSource-MiMLS
• 2008-03-15 Listing Removed — REALCOMP
• 2007-11-15 Listed $13,250 MiRealSource-MiMLS
• 2007-11-15 Listed $13,250 REALCOMP
• 2007-03-12 Sold (Public Records) $66,000 Public Records
• 2004-09-02 Sold (MLS) $14,500 MiRealSource-MiMLS
• 2004-08-02 Listing Removed — MiRealSource-MiMLS
• 2004-07-15 Listing Removed — REALCOMP
• 2004-03-27 Listed $29,900 REALCOMP
• 2004-03-27 Listed $29,900 MiRealSource-MiMLS
• 2004-03-14 Listing Removed — REALCOMP
• 2004-02-16 Listed $44,900 REALCOMP
• 2003-12-10 Listing Removed — REALCOMP
• 2003-09-03 Listed $49,900 REALCOMP
• 2003-09-02 Listing Removed — REALCOMP
• 2003-06-04 Listed $54,900 REALCOMP
• 1998-02-02 Sold (Public Records) $48,900 Public Records
• 1996-11-25 Sold (Public Records) $5,300 Public Records

Property tax history

+17.4%/yr

Latest (2025): $1,778 · +158.4% YoY. Source: county tax records.