7490 Lamphere · Detroit, MI 48239

$120,000

3 bd · 1.0 ba · 694 sqft · SingleFamily public records · 34 Days on market

Built 1948 5,227 sqft lot Est $83k · 45% over

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 7490 Lamphere - a charming and well-kept 3-bedroom bungalow offering comfort, space, and timeless appeal. Step inside to a bright, inviting layout with a comfortable flow and plenty of natural light throughout. The main level features spacious living areas perfect for everyday living and entertaining. The kitchen is functional with great potential for your personal touch. The large basement adds valuable extra space, ideal for storage, a future recreation area, or additional living space. Outside, enjoy a nice yard perfect for relaxing or gatherings. Conveniently located near shopping, schools, dining, and major freeways. A great opportunity for homeowners or investors, schedule your showing today!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1948

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
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.12 acres (40 x 134)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% 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 $830 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask is 8471% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $48k; list at $120k implies a 147% 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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.79%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $82,586
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7660 Dacosta	0.15mi	2/1.0 (-1)	689 (-1%)	20mo	$80,000	$116	70
7695 Hazelton St	0.38mi	2/1.0 (-1)	720 (+4%)	13mo	$104,800	$146	60
7491 Dacosta	0.04mi	2/2.0 (-1)	795 (+15%)	11mo	$95,000	$119	56

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $3,724
• Equity at exit: $17,892

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $34,104
• Equity at exit: $10,375

Cash invested: $33,600 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$108 /mo · $1,302/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $358

Break-even live

Break-even rent $997

Max offer price $120,000

Occupancy floor 70%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	43d	1	0.21mi
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	2d	1	0.23mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	1.19mi

Listing history 29 events

1. 2026-06-18
   days on market $120,000 Active 34 DOM
2. 2026-06-17
   days on market $120,000 Active 33 DOM
3. 2026-06-15
   days on market $120,000 Active 31 DOM
4. 2026-06-13
   days on market $120,000 Active 29 DOM
5. 2026-06-13
   days on market $120,000 Active 28 DOM
6. 2026-06-09
   days on market $120,000 Active 25 DOM
7. 2026-06-08
   days on market $120,000 Active 24 DOM
8. 2026-06-07
   days on market $120,000 Active 23 DOM
9. 2026-06-04
   days on market $120,000 Active 20 DOM
10. 2026-06-03
    days on market $120,000 Active 19 DOM
11. 2026-06-02
    days on market $120,000 Active 18 DOM
12. 2026-06-01
    days on market $120,000 Active 17 DOM
13. 2026-05-31
    days on market $120,000 Active 16 DOM
14. 2026-05-16
    listed $1,400

    Show marketing remark (720 chars)

    Welcome to 7490 Lamphere - a charming and well-kept 3-bedroom bungalow offering comfort, space, and timeless appeal. Step inside to a bright, inviting layout with a comfortable flow and plenty of natural light throughout. The main level features spacious living areas perfect for everyday living and entertaining. The kitchen is functional with great potential for your personal touch. The large basement adds valuable extra space, ideal for storage, a future recreation area, or additional living space. Outside, enjoy a nice yard perfect for relaxing or gatherings. Conveniently located near shopping, schools, dining, and major freeways. A great opportunity for homeowners or investors, schedule your showing today!

15. 2026-05-16
    listed $120,000 Active 720-char remark

    Show marketing remark (720 chars)

    Welcome to 7490 Lamphere - a charming and well-kept 3-bedroom bungalow offering comfort, space, and timeless appeal. Step inside to a bright, inviting layout with a comfortable flow and plenty of natural light throughout. The main level features spacious living areas perfect for everyday living and entertaining. The kitchen is functional with great potential for your personal touch. The large basement adds valuable extra space, ideal for storage, a future recreation area, or additional living space. Outside, enjoy a nice yard perfect for relaxing or gatherings. Conveniently located near shopping, schools, dining, and major freeways. A great opportunity for homeowners or investors, schedule your showing today!

16. 2026-05-16
    listed $120,000 Active 724-char remark

    Show marketing remark (720 chars)

    Welcome to 7490 Lamphere - a charming and well-kept 3-bedroom bungalow offering comfort, space, and timeless appeal. Step inside to a bright, inviting layout with a comfortable flow and plenty of natural light throughout. The main level features spacious living areas perfect for everyday living and entertaining. The kitchen is functional with great potential for your personal touch. The large basement adds valuable extra space, ideal for storage, a future recreation area, or additional living space. Outside, enjoy a nice yard perfect for relaxing or gatherings. Conveniently located near shopping, schools, dining, and major freeways. A great opportunity for homeowners or investors, schedule your showing today!

17. 2026-05-15
    historical $120,000 720-char remark

    Show marketing remark (720 chars)

    Welcome to 7490 Lamphere - a charming and well-kept 3-bedroom bungalow offering comfort, space, and timeless appeal. Step inside to a bright, inviting layout with a comfortable flow and plenty of natural light throughout. The main level features spacious living areas perfect for everyday living and entertaining. The kitchen is functional with great potential for your personal touch. The large basement adds valuable extra space, ideal for storage, a future recreation area, or additional living space. Outside, enjoy a nice yard perfect for relaxing or gatherings. Conveniently located near shopping, schools, dining, and major freeways. A great opportunity for homeowners or investors, schedule your showing today!

18. 2016-02-04
    soldstatus $48,500
19. 2009-02-17
    soldstatus $8,400

    Show marketing remark (379 chars)

    THIS IS DEFINITELY A CHARMER! 3 BEDROOM, 1 BATH WITH UPDATED WINDOWS, UPDATED KITCHEN AND BATHROOM. HARDWOOD FLOORS IN THE LIVING ROOM AND BEDROOMS. THIS CHARMER HAS A NEWER ROOF AND A GARAGE AS WELL AS A SHED. DON'T MISS OUT. BANK OWNED "AS-IS". EMD TO BE HELD WITH LISTING OFFICE. ADDENDUMS TO BE SIGNED WITH OFFER. THIS PROPERTY IS APPROVED FOR EXPRESSPATH FINANCING

20. 2008-09-23
    listed $29,000

    Show marketing remark (379 chars)

    THIS IS DEFINITELY A CHARMER! 3 BEDROOM, 1 BATH WITH UPDATED WINDOWS, UPDATED KITCHEN AND BATHROOM. HARDWOOD FLOORS IN THE LIVING ROOM AND BEDROOMS. THIS CHARMER HAS A NEWER ROOF AND A GARAGE AS WELL AS A SHED. DON'T MISS OUT. BANK OWNED "AS-IS". EMD TO BE HELD WITH LISTING OFFICE. ADDENDUMS TO BE SIGNED WITH OFFER. THIS PROPERTY IS APPROVED FOR EXPRESSPATH FINANCING

21. 2006-11-15
    historical
22. 2006-09-24
    listed $80,000
23. 2006-09-03
    historical
24. 2006-09-03
    historical
25. 2006-01-03
    listed $80,000
26. 2006-01-03
    listed $80,000
27. 2005-12-28
    historical
28. 2005-06-28
    listed $86,999
29. 2003-06-19
    soldstatus $54,000

ⓘ 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 · $108/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$273/yr (+$23/mo · 21.0%)

ⓘ 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 ≥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: $17,406
• − Mortgage interest: −$6,722
• − Property taxes: −$1,302
• − Insurance: −$600
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$3,491
• Taxable income: $2,506
• Est. tax owed @ 24.0%: −$601
• After-tax cash flow: $3,696/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

-97.4% since first listed

16 events — show timeline

• 2026-05-16 Listed for Rent $1,400 REALCOMP
• 2026-05-16 Listed $120,000 MiRealSource-MiMLS
• 2026-05-16 Listed $120,000 REALCOMP
• 2026-05-15 Coming Soon $120,000 MiRealSource-MiMLS
• 2016-02-04 Sold (Public Records) $48,500 Public Records
• 2009-02-17 Sold (MLS) $8,400 REALCOMP
• 2008-09-23 Listed $29,000 REALCOMP
• 2006-11-15 Listing Removed — REALCOMP
• 2006-09-24 Listed $80,000 REALCOMP
• 2006-09-03 Listing Removed — MiRealSource-MiMLS
• 2006-09-03 Listing Removed — REALCOMP
• 2006-01-03 Listed $80,000 MiRealSource-MiMLS
• 2006-01-03 Listed $80,000 REALCOMP
• 2005-12-28 Listing Removed — REALCOMP
• 2005-06-28 Listed $86,999 REALCOMP
• 2003-06-19 Sold (Public Records) $54,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,302 · +0.3% YoY. Source: county tax records.