7507 W Parkway St · Detroit, MI 48239

$135,000

3 bd · 1.0 ba · 734 sqft · SingleFamily public records · 20 Days on market

Built 1948 4,356 sqft lot

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Why this score? — see what drove the C 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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

Key facts

• 4,356 sq ft lot
• Built 1948
• Listed 19 days

Property features AI

Finance

• Other: Property located in Detroit (mail city Redford), subdivision Fogle Military Park; Lot size approximately 0.1 acre

Exterior

• Utilities: Public water; Natural gas; Forced air heating
• Home design: Residential 2-story home; Built in 1948; Basement entry level
• Construction: Vinyl siding exterior; Basement foundation
• Exterior features: Vinyl siding; Paved street access; Frontage approximately 40 feet

Interior

• Kitchen: Kitchen on entry level (10 x 9); Dining room on entry level (12 x 11)
• Bedrooms: Primary bedroom on the second floor (11 x 11); Second bedroom on entry level (10 x 9); Third bedroom on entry level (approx. 10 wide)
• Bathrooms: One full bathroom; Two total baths/lavatories; Basement lavatory
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: 8 total rooms; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (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 rising (+3.2%/yr); 188 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask is 145% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $44k; list at $135k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 1.07% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $87,346
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7695 Hazelton St	0.16mi	2/1.0 (-1)	720 (-2%)	13mo	$104,800	$146	74
7491 Dacosta	0.31mi	2/2.0 (-1)	795 (+8%)	11mo	$95,000	$119	53
7660 Dacosta	0.36mi	2/1.0 (-1)	689 (-6%)	20mo	$80,000	$116	52
7420 Dacosta	0.35mi	3/1.0	840 (+14%)	20mo	$66,000	$79	43

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,314
• Equity at exit: $20,129

10-year hold

• IRR: 6.9%
• Equity multiple: 1.53×
• Total profit: $19,849
• Equity at exit: $11,672

Cash invested: $37,800 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,447 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$109 /mo · $1,302/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $270

Break-even live

Break-even rent $1,105

Max offer price $135,000

Occupancy floor 76%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	2d	1	0.07mi
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	43d	1	0.42mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	1.44mi

Listing history 37 events

1. 2026-06-18
   days on market $135,000 Active 20 DOM
2. 2026-06-17
   days on market $135,000 Active 19 DOM
3. 2026-06-15
   days on market $135,000 Active 17 DOM
4. 2026-06-13
   days on market $135,000 Active 15 DOM
5. 2026-06-13
   days on market $135,000 Active 14 DOM
6. 2026-06-09
   days on market $135,000 Active 11 DOM
7. 2026-06-08
   days on market $135,000 Active 10 DOM
8. 2026-06-07
   days on market $135,000 Active 9 DOM
9. 2026-06-04
   days on market $135,000 Active 6 DOM
10. 2026-06-03
    days on market $135,000 Active 5 DOM
11. 2026-06-02
    days on market $135,000 Active 4 DOM
12. 2026-06-01
    days on market $135,000 Active 3 DOM
13. 2026-05-31
    days on market $135,000 Active 2 DOM
14. 2026-05-28
    historical $135,000
15. 2020-01-07
    soldstatus $44,000 Sold 229-char remark

    Show marketing remark (229 chars)

    RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

16. 2020-01-07
    soldstatus $44,000 Closed

    Show marketing remark (229 chars)

    RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

17. 2019-12-27
    status Pending

    Show marketing remark (229 chars)

    RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

18. 2019-12-27
    status Pending 229-char remark

    Show marketing remark (229 chars)

    RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

19. 2019-09-19
    listed $55,000 Active 229-char remark

    Show marketing remark (229 chars)

    RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

20. 2019-09-19
    listed $55,000 Active

    Show marketing remark (229 chars)

    RECENTLY VACANT!! GREAT 3 BEDROOM 1 AND A HALF BATH, NICE SIZE LIVING ROOM, SEPARATE DINING ROOM , AND FULL BASEMENT!!! PROPERTY SOLD AS IS. BUYER RESPONSIBLE FOR CITY INSPECTION IF REQUIRED AND ANY REPAIRS/REQUIREMENTS(IF ANY).

21. 2011-07-26
    soldstatus $12,450
22. 2011-07-19
    soldstatus $12,450
23. 2011-07-19
    soldstatus $12,450
24. 2011-07-19
    soldstatus $12,450
25. 2011-06-06
    historical
26. 2011-06-06
    historical
27. 2011-05-13
    listed $11,900
28. 2011-05-13
    listed $11,900
29. 2011-05-13
    listed $11,900
30. 2010-10-13
    soldstatus $112,907
31. 2005-09-15
    soldstatus $87,500
32. 2005-05-28
    soldstatus $87,500
33. 2005-05-24
    soldstatus $87,500
34. 2005-05-05
    historical
35. 2005-02-15
    listed $89,900
36. 2005-02-14
    listed $89,900
37. 1998-11-17
    soldstatus $64,000

ⓘ 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: $1,302 · $109/mo
• Projected year-2 tax: $1,691 · $141/mo
• Expected delta: +$388/yr (+$32/mo · 29.8%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,362
• − Mortgage interest: −$7,562
• − Property taxes: −$1,302
• − Insurance: −$675
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$3,927
• Taxable income: $1,117
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $2,975/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): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+110.9% since first listed

24 events — show timeline

• 2026-05-28 Coming Soon $135,000 MiRealSource-MiMLS
• 2020-01-07 Sold (MLS) $44,000 MiRealSource-MiMLS
• 2020-01-07 Sold (MLS) $44,000 REALCOMP
• 2019-12-27 Pending — MiRealSource-MiMLS
• 2019-12-27 Pending — REALCOMP
• 2019-09-19 Listed $55,000 MiRealSource-MiMLS
• 2019-09-19 Listed $55,000 REALCOMP
• 2011-07-26 Sold (Public Records) $12,450 Public Records
• 2011-07-19 Sold (MLS) $12,450 MiRealSource-MiMLS
• 2011-07-19 Sold (MLS) $12,450 AAMLS
• 2011-07-19 Sold (MLS) $12,450 SW Michigan MLS
• 2011-06-06 Listing Removed — MiRealSource-MiMLS
• 2011-06-06 Delisted — AAMLS
• 2011-05-13 Listed $11,900 MiRealSource-MiMLS
• 2011-05-13 Listed $11,900 AAMLS
• 2011-05-13 Listed $11,900 SW Michigan MLS
• 2010-10-13 Sold (Public Records) $112,907 Public Records
• 2005-09-15 Sold (Public Records) $87,500 Public Records
• 2005-05-28 Sold (MLS) $87,500 MiRealSource-MiMLS
• 2005-05-24 Sold (MLS) $87,500 REALCOMP
• 2005-05-05 Listing Removed — MiRealSource-MiMLS
• 2005-02-15 Listed $89,900 REALCOMP
• 2005-02-14 Listed $89,900 MiRealSource-MiMLS
• 1998-11-17 Sold (Public Records) $64,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $1,302 · -12.5% YoY. Source: county tax records.