9223 Cheyenne St · Detroit, MI 48228

$79,900

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 27 Days on market

Built 1939 4,356 sqft lot Est $96k · 17% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• 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 9223 Cheyenne Street, a charming Detroit residence that seamlessly blends character, comfort, and untapped potential. This home offers generously sized living spaces anchored by a natural fireplace, abundant natural light throughout, and a flexible floor plan that allows for a seamless conversion from two oversized bedrooms into three. Thoughtfully designed for both functionality and livability, the property presents an excellent opportunity for first-time homebuyers, owner-occupants, or investors seeking long-term value. Ideally situated near schools, parks, shopping, dining, and major freeways, it delivers both convenience and accessibility. A compelling opportunity in a growing market - schedule your private showing today and envision the possibilities.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1939

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick construction
• Construction: Asphalt roof; Block foundation
• Exterior features: Paved road access; Lot approximately 0.1 acre (35 x 120)

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); No central air
• Interior features: Fireplace in the living room; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $384 ($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: $79k (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: Rents soft (-2.3%/yr); 363 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $1,164/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 $552 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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 $8k; list at $80k implies a 899% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — 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: 1.46% ✓
• Cap rate: 12.06%
• Cash-on-cash: 20.59%
• DSCR: 1.92
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $95,940
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9180 Hartwell St	0.11mi	3/1.5 (+1)	1,174 (+0%)	5mo	$62,000	$53	83
9119 Littlefield St	0.12mi	3/1.0 (+1)	1,298 (+11%)	2mo	$60,000	$46	69
8590 Littlefield St	0.36mi	3/1.5 (+1)	1,218 (+4%)	1mo	$100,000	$82	68
9982 Littlefield St	0.48mi	3/1.0 (+1)	1,152 (-2%)	8mo	$47,000	$41	64
9222 Hartwell St	0.10mi	3/1.0 (+1)	1,000 (-14%)	5mo	$70,000	$70	62
8938 Hartwell St	0.17mi	3/1.5 (+1)	1,042 (-11%)	7mo	$100,000	$96	61
9145 Pinehurst St	0.44mi	3/1.5 (+1)	1,240 (+6%)	5mo	$66,000	$53	58
8999 Griggs St	0.63mi	3/2.0 (+1)	1,196 (+2%)	0mo	$190,000	$159	58
9206 Pinehurst St	0.46mi	3/1.5 (+1)	1,308 (+12%)	3mo	$45,000	$34	49
8130 Ward St	0.65mi	3/1.0 (+1)	1,278 (+9%)	1mo	$157,000	$123	48
10327 Kramer St	0.65mi	3/1.5 (+1)	1,273 (+9%)	1mo	$133,770	$105	48
9576 Hubbell St	0.72mi	3/2.0 (+1)	1,270 (+8%)	6mo	$134,900	$106	38

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: 9.5%
• Equity multiple: 1.36×
• Total profit: $8,094
• Equity at exit: $11,913

10-year hold

• IRR: 16.1%
• Equity multiple: 2.13×
• Total profit: $25,369
• Equity at exit: $6,908

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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,164 high
• Mortgage (P&I): −$419
• Tax from tax record: −$84 /mo · $1,005/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $384

Break-even live

Break-even rent $679

Max offer price $79,900

Occupancy floor 62%

Sensitivity live

Price	-10% $429	-5% $406	+0% $384	+5% $361	+10% $339
Rent	-10% $292	-5% $338	+0% $384	+5% $430	+10% $476
Rate	-1.0pp $424	-0.5pp $404	base $384	+0.5pp $363	+1.0pp $342

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	44d	1	0.12mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	44d	1	0.14mi
9415 Meyers Rd Detroit, MI	1.0	1.0	720	$897	$1.25	44d	1	0.34mi
9419 Meyers Rd Detroit, MI	1.0	1.0	720	$894	$1.24	44d	1	0.34mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	44d	1	0.42mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	44d	1	0.54mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.63mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	0.63mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	44d	1	0.65mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	0.67mi
10345 Crocuslawn Ave Unit 2 Detroit, MI	2.0	1.0	850	$950	$1.12	44d	1	0.68mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.69mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	44d	1	0.74mi
12775 Plymouth Rd Apt 11 Detroit, MI	1.0	1.0	725	$635	$0.88	44d	1	0.74mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	44d	1	0.78mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	44d	1	0.81mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	44d	1	0.83mi
9353 Kentucky St Detroit, MI	2.0	1.0	800	$999	$1.25	18d	1	0.87mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	2d	1	0.96mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	44d	1	1.00mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	44d	1	1.00mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	17d	1	1.00mi
11411 Wyoming Ave Detroit, MI	1.0	1.0	750	$850	$1.13	25d	1	1.01mi
11411 Wyoming Ave Apt 205 Detroit, MI	1.0	1.0	800	$1,000	$1.25	11d	1	1.01mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	44d	1	1.04mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	1.04mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	44d	1	1.10mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	44d	1	1.12mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	1.15mi
8047 Robson St Detroit, MI	3.0	2.0	1184	$1,200	$1.01	44d	1	1.19mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	25d	1	1.20mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	44d	1	1.21mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	17d	1	1.24mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	25d	1	1.25mi
8544 Cloverlawn St Detroit, MI	2.0	1.0	800	$800	$1.00	18d	1	1.25mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	17d	1	1.26mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.27mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	1.29mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.29mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	17d	1	1.30mi

Listing history 32 events

1. 2026-06-18
   days on market $79,900 Active 27 DOM
2. 2026-06-17
   days on market $79,900 Active 26 DOM
3. 2026-06-15
   days on market $79,900 Active 24 DOM
4. 2026-06-13
   days on market $79,900 Active 22 DOM
5. 2026-06-13
   days on market $79,900 Active 21 DOM
6. 2026-06-09
   days on market $79,900 Active 18 DOM
7. 2026-06-08
   days on market $79,900 Active 17 DOM
8. 2026-06-07
   days on market $79,900 Active 16 DOM
9. 2026-06-04
   days on market $79,900 Active 13 DOM
10. 2026-06-03
    days on market $79,900 Active 12 DOM
11. 2026-06-02
    days on market $79,900 Active 11 DOM
12. 2026-06-01
    days on market $79,900 Active 10 DOM
13. 2026-05-31
    days on market $79,900 Active 9 DOM
14. 2026-05-23
    listed $79,900 Active

    Show marketing remark (777 chars)

    Welcome to 9223 Cheyenne Street, a charming Detroit residence that seamlessly blends character, comfort, and untapped potential. This home offers generously sized living spaces anchored by a natural fireplace, abundant natural light throughout, and a flexible floor plan that allows for a seamless conversion from two oversized bedrooms into three. Thoughtfully designed for both functionality and livability, the property presents an excellent opportunity for first-time homebuyers, owner-occupants, or investors seeking long-term value. Ideally situated near schools, parks, shopping, dining, and major freeways, it delivers both convenience and accessibility. A compelling opportunity in a growing market - schedule your private showing today and envision the possibilities.

15. 2026-05-23
    listed $79,900 Active 777-char remark

    Show marketing remark (777 chars)

    Welcome to 9223 Cheyenne Street, a charming Detroit residence that seamlessly blends character, comfort, and untapped potential. This home offers generously sized living spaces anchored by a natural fireplace, abundant natural light throughout, and a flexible floor plan that allows for a seamless conversion from two oversized bedrooms into three. Thoughtfully designed for both functionality and livability, the property presents an excellent opportunity for first-time homebuyers, owner-occupants, or investors seeking long-term value. Ideally situated near schools, parks, shopping, dining, and major freeways, it delivers both convenience and accessibility. A compelling opportunity in a growing market - schedule your private showing today and envision the possibilities.

16. 2026-05-20
    historical $79,900 777-char remark

    Show marketing remark (777 chars)

    Welcome to 9223 Cheyenne Street, a charming Detroit residence that seamlessly blends character, comfort, and untapped potential. This home offers generously sized living spaces anchored by a natural fireplace, abundant natural light throughout, and a flexible floor plan that allows for a seamless conversion from two oversized bedrooms into three. Thoughtfully designed for both functionality and livability, the property presents an excellent opportunity for first-time homebuyers, owner-occupants, or investors seeking long-term value. Ideally situated near schools, parks, shopping, dining, and major freeways, it delivers both convenience and accessibility. A compelling opportunity in a growing market - schedule your private showing today and envision the possibilities.

17. 2025-10-24
    historical
18. 2025-10-24
    historical
19. 2025-01-16
    price $95,000
20. 2025-01-15
    price $95,000
21. 2024-10-26
    listed $80,000 Active
22. 2024-10-26
    listed $80,000 Active
23. 2024-10-23
    historical
24. 2024-10-23
    historical
25. 2010-05-03
    soldstatus $8,000
26. 2010-02-19
    listed $4,500
27. 1999-03-22
    soldstatus $60,000
28. 1999-01-31
    historical
29. 1998-10-23
    listed $69,900
30. 1998-08-27
    soldstatus $25,000
31. 1997-09-11
    soldstatus $14,450
32. 1997-02-03
    soldstatus $18,000

ⓘ 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: $1,005 · $84/mo
• Projected year-2 tax: $1,118 · $93/mo
• Expected delta: +$113/yr (+$9/mo · 11.2%)

ⓘ 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,973
• − Mortgage interest: −$4,476
• − Property taxes: −$1,005
• − Insurance: −$400
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$2,324
• Taxable income: $3,533
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $3,758/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

+343.9% since first listed

19 events — show timeline

• 2026-05-23 Listed $79,900 REALCOMP
• 2026-05-23 Listed $79,900 MiRealSource-MiMLS
• 2026-05-20 Coming Soon $79,900 MiRealSource-MiMLS
• 2025-10-24 Listing Removed — MiRealSource-MiMLS
• 2025-10-24 Listing Removed — REALCOMP
• 2025-01-16 Price Changed $95,000 MiRealSource-MiMLS
• 2025-01-15 Price Changed $95,000 REALCOMP
• 2024-10-26 Listed $80,000 MiRealSource-MiMLS
• 2024-10-26 Listed $80,000 REALCOMP
• 2024-10-23 Coming Soon — MiRealSource-MiMLS
• 2024-10-23 Coming Soon — REALCOMP
• 2010-05-03 Sold (MLS) $8,000 REALCOMP
• 2010-02-19 Listed $4,500 REALCOMP
• 1999-03-22 Sold (Public Records) $60,000 Public Records
• 1999-01-31 Listing Removed — REALCOMP
• 1998-10-23 Listed $69,900 REALCOMP
• 1998-08-27 Sold (Public Records) $25,000 Public Records
• 1997-09-11 Sold (Public Records) $14,450 Public Records
• 1997-02-03 Sold (Public Records) $18,000 Public Records

Property tax history

-3.3%/yr

Latest (2025): $1,005 · -55.1% YoY. Source: county tax records.