7161 Varjo St · Detroit, MI 48212

$82,500

3 bd · 1.0 ba · 924 sqft · SingleFamily public records · 18 Days on market

Built 1971 3,485 sqft lot

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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
• 1% rule +9.3/10.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready & Investor Friendly! Recently renovated throughout with fresh paint, new carpeting, updated vinyl flooring, a brand-new furnace, and new hot water tank. This turnkey property offers a clean, modern feel with major updates already completed. With potential rental income of approximately $1,200 per month, investors may appreciate the strong cash-flow opportunity and an estimated gross rental yield of approximately 17.5% based on the asking price of $82,500. Ideal for investors or owner-occupants seeking a move-in-ready home. BATVAI.

Key facts

• Turnkey property
• New carpeting
• New hot water tank

Tags

• RECENTLY RENOVATED
• NEW CARPETING
• UPDATED VINYL FLOORING
• BRAND NEW FURNACE
• NEW HOT WATER TANK
• TURNKEY PROPERTY

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer (sewer available)
• Home design: Single-family residence; One story, ground-level entry; Located in the Perriens North Detroit subdivision; Facing direction not specified
• Construction: Brick and vinyl siding construction
• Exterior features: Paved road access; Asphalt roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Crawl space basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $81k (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: 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.
• Zoned schools: Marion Law Academy (math 5% / reading 15%, grade F, #1,230 of 1,397 statewide, top 91%, 362 students, 91% FRL); Detroit Lions Academy (math 5% / reading 5%, grade F, #488 of 493 statewide, top 100%, 123 students, 93% FRL); Osborn High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 407 students, 92% FRL) — zoned schools at 92% FRL track the district average.
• Market conditions: 170 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 37% of the median local income ($38k/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 $570 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 + 3.0% rent growth), your $23k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $16k; list at $82k implies a 419% gain — meaningful room to come down on a strong offer.

Recommended offer $81,262 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — 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: 1.43% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.84%
• DSCR: 1.75
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $45,276
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6744 Brimson St	0.35mi	3/1.0	910 (-2%)	1mo	$45,000	$49	80
6865 Edgeton St	0.23mi	3/1.5	888 (-4%)	8mo	$73,000	$82	74
18818 Sherwood St	0.50mi	3/1.0	940 (+2%)	6mo	$38,000	$40	69
18810 Sherwood St	0.49mi	3/2.0	915 (-1%)	11mo	$103,000	$113	62
18824 Helen St	0.46mi	3/1.0	844 (-9%)	5mo	$34,000	$40	60
18810 Carrie St	0.43mi	3/1.0	982 (+6%)	12mo	$86,000	$88	60
7505 E Robinwood St	0.44mi	4/2.0 (+1)	1,000 (+8%)	3mo	$140,500	$141	54
18709 Helen St	0.42mi	3/1.5	845 (-8%)	14mo	$87,000	$103	53
8245 E Hildale St	0.56mi	3/1.0	1,028 (+11%)	3mo	$45,000	$44	52
8154 Quinn St	0.53mi	3/1.0	1,015 (+10%)	9mo	$22,000	$22	52
19161 Rogge St	0.61mi	3/1.0	1,001 (+8%)	8mo	$46,500	$46	52
8100 Stockton St	0.40mi	2/1.0 (-1)	800 (-13%)	3mo	$26,000	$33	51

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.32×
• Total profit: $7,317
• Equity at exit: $12,301

10-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $33,123
• Equity at exit: $7,133

Cash invested: $23,100 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 170
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,181 high
• Mortgage (P&I): −$433
• Tax from tax record: −$142 /mo · $1,702/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $324

Break-even live

Break-even rent $771

Max offer price $82,500

Occupancy floor 68%

Sensitivity live

Price	-10% $371	-5% $347	+0% $324	+5% $301	+10% $277
Rent	-10% $231	-5% $277	+0% $324	+5% $371	+10% $417
Rate	-1.0pp $366	-0.5pp $345	base $324	+0.5pp $303	+1.0pp $281

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	0.38mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.62mi
19682 Rogge St Detroit, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	0.96mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,000	$1.18	0d	1	0.97mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	26d	1	1.09mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	45d	1	1.12mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	1.12mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	18d	1	1.20mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	6d	1	1.22mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	45d	1	1.23mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	1.33mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	1.34mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	45d	1	1.43mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	19d	1	1.43mi

Listing history 12 events

1. 2026-06-21
   days on market $82,500 Active 18 DOM
2. 2026-06-18
   days on market $82,500 Active 15 DOM
3. 2026-06-17
   days on market $82,500 Active 14 DOM
4. 2026-06-16
   days on market $82,500 Active 13 DOM
5. 2026-06-15
   days on market $82,500 Active 12 DOM
6. 2026-06-13
   days on market $82,500 Active 10 DOM
7. 2026-06-13
   days on market $82,500 Active 9 DOM
8. 2026-06-09
   days on market $82,500 Active 6 DOM
9. 2026-06-08
   days on market $82,500 Active 5 DOM
10. 2026-06-07
    days on market $82,500 Active 4 DOM
11. 2026-06-04
    remarks 552-char remark
12. 2026-06-04
    listed $82,500 Active 1 DOM

ⓘ 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: $1,702 · $142/mo
• Projected year-2 tax: $1,702 · $142/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,171
• − Mortgage interest: −$4,621
• − Property taxes: −$1,702
• − Insurance: −$412
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$2,400
• Taxable income: $2,768
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $3,225/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): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• 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

+418.7% since first listed

3 events — show timeline

• 2026-06-03 Listed $82,500 REALCOMP
• 2026-06-03 Listed $82,500 MiRealSource-MiMLS
• 1991-11-08 Sold (Public Records) $15,904 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,702 · +1.3% YoY. Source: county tax records.