24827 Puritan · Detroit, MI 48239

$174,900

4 bd · 1.0 ba · 1,186 sqft · SingleFamily public records · 7 Days on market

Built 1943 9,583 sqft lot Est $168k · at est.

---

Why this score? — see what drove the D 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 +16.5/30.0
• ARV discount +5.8/15.0
• DSCR +5.1/10.0
• 1% rule +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Ranch house has been painted through out * New carpet and update bath * Nice size eat in kitchen * Nice size house for a family of 3 children or more. 2nd floor bedroom good size to sleep two small children. Adjoining room next to garage is great for children to play/watch TV. Bathroom is currently being updated with new ceramic walls, fixture and glazed tub. Large backyard. No sect 8 at this time. Pets OK Two car garage. Immediate occupancy.

Key facts

• Updated kitchen
• 1st floor laundry
• Fenced corner lot

Tags

• UPDATED KITCHEN
• NEW APPLIANCE PACKAGE
• NATURAL WOOD BURNING FIREPLACE
• 1ST FLOOR LAUNDRY
• LOVELY BACK YARD DECK
• FENCED CORNER LOT

Property features AI

Finance

• Other: Property located in a township (Redford Twp)

Exterior

• Parking: Attached 2-car garage with automatic door opener and side loading; Direct access from garage
• Utilities: Public water; Natural gas; Electric service (standard)
• Home design: Residential property; 1 1/2-story structure; Built in 1943; Frontage approximately 73 feet
• Construction: Vinyl siding construction; Foundation: crawlspace and slab; Built in 1943
• Exterior features: Vinyl siding; Deck; Fenced yard; Porch; Corner lot; Gravel and paved street access

Interior

• Kitchen: Kitchen on entry level with laminate flooring (approx. 11 x 10); Appliances included: Dishwasher, Range/Oven, Refrigerator
• Bedrooms: Primary bedroom on second floor with carpeted floor (20 x 14); Bedroom on entry level with carpeted floor (12 x 10); Bedroom on entry level with carpeted floor (approx. 11 wide); Bedroom on entry level with carpeted floor (11 x 11); Total of 9 rooms
• Flooring: Carpet in living areas and bedrooms; Laminate in kitchen, dining room, bathroom, and laundry
• Bathrooms: One full bathroom on entry level with laminate flooring (approx. 9 x 8)
• Heating & cooling: Forced air heating; Central A/C; Natural gas heat/fuel; Gas water heater
• Interior features: Fireplace in the living room (natural fireplace); Breezeway
• Laundry & utility: Laundry room on entry level with laminate flooring (approx. 8 x 5)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (8.8% below list).
• Recommended offer: $160k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beech Elementary (math 2% / reading 17%, grade F, #1,277 of 1,397 statewide, top 93%, 453 students, 83% FRL); Hilbert Middle School (math 8% / reading 25%, grade F, #446 of 493 statewide, top 90%, 398 students, 75% FRL); Redford Union High School (math 15% / reading 34%, grade F, #476 of 713 statewide, top 67%, 736 students, 70% FRL).
• Market conditions: Rents rising (+3.2%/yr); 193 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 22y 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 $800; list at $175k implies a 21762% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,564 (8.8% below list)

Questions for the listing agent

1. Built in 1943 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $168,412
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24850 Midland	0.15mi	3/1.0 (-1)	1,136 (-4%)	1mo	$161,500	$142	80
15478 Lola Dr	0.29mi	4/1.0	1,100 (-7%)	2mo	$800,000	$727	73
16101 Salem St	0.03mi	3/2.0 (-1)	1,333 (+12%)	3mo	$70,000	$53	66
16004 Sumner St	0.36mi	3/1.0 (-1)	1,136 (-4%)	7mo	$155,000	$136	65
15685 Lenore	0.30mi	3/1.0 (-1)	1,094 (-8%)	7mo	$170,000	$155	62
16565 Woodbine St	0.43mi	3/1.0 (-1)	1,105 (-7%)	2mo	$110,000	$100	62
16531 Winston St	0.23mi	3/1.0 (-1)	1,013 (-15%)	7mo	$45,000	$44	54
16157 Wormer St	0.30mi	3/2.0 (-1)	1,042 (-12%)	6mo	$88,000	$84	52
15422 Chelsea	0.59mi	4/2.0	1,299 (+10%)	3mo	$195,000	$150	50
15051 Dixie	0.67mi	3/1.0 (-1)	1,100 (-7%)	3mo	$210,000	$191	49
15395 Centralia	0.74mi	3/1.0 (-1)	1,318 (+11%)	1mo	$150,000	$114	41
15881 Pomona Dr	0.53mi	3/1.5 (-1)	1,353 (+14%)	6mo	$212,900	$157	40

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-21,363
• Equity at exit: $26,078

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-8,496
• Equity at exit: $15,122

Cash invested: $48,972 (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: 193
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,596 high
• Mortgage (P&I): −$917
• Tax from tax record: −$167 /mo · $2,005/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $103

Break-even live

Break-even rent $1,465

Max offer price $174,900

Occupancy floor 89%

Sensitivity live

Price	-10% $202	-5% $153	+0% $103	+5% $54	+10% $4
Rent	-10% $-23	-5% $40	+0% $103	+5% $166	+10% $229
Rate	-1.0pp $191	-0.5pp $148	base $103	+0.5pp $58	+1.0pp $12

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	7d	1	0.30mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	6d	1	0.36mi
16896 Salem St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	45d	1	0.43mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	19d	1	0.46mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	19d	1	0.48mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	18d	1	0.65mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	6d	1	1.10mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	45d	1	1.15mi
14256 Salem Redford, MI	3.0	1.5	1168	$1,675	$1.43	18d	1	1.19mi
17328 McIntyre St Unit 2 Detroit, MI	3.0	1.0	1200	$1,250	$1.04	45d	1	1.26mi
17355 McIntyre St Detroit, MI	3.0	1.0	1500	$1,250	$0.83	45d	1	1.26mi

Listing history 9 events

1. 2026-06-21
   days on market $174,900 Active 7 DOM
2. 2026-06-18
   days on market $174,900 Active 4 DOM
3. 2026-06-17
   days on market $174,900 Active 3 DOM
4. 2026-06-16
   days on market $174,900 Active 2 DOM
5. 2026-06-15
   remarks 460-char remark
6. 2026-06-15
   days on marketlisting id $174,900 Active 1 DOM
7. 2026-06-15
   days on market $174,900 Active 2 DOM
8. 2026-06-13
   remarks 455-char remark
9. 2026-06-13
   listed $174,900 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: $2,005 · $167/mo
• Projected year-2 tax: $2,349 · $196/mo
• Expected delta: +$344/yr (+$29/mo · 17.2%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,148
• − Mortgage interest: −$9,797
• − Property taxes: −$2,005
• − Insurance: −$874
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$5,088
• Taxable loss: −$1,681
• Est. tax savings @ 24.0%: +$403
• After-tax cash flow: $1,644/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 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

• 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

+230.0% since first listed

18 events — show timeline

• 2026-06-13 Listed $174,900 MiRealSource-MiMLS
• 2013-10-29 Sold (MLS) $800 MiRealSource-MiMLS
• 2013-10-13 Listed $800 MiRealSource-MiMLS
• 2010-11-12 Sold (MLS) $15,500 REALCOMP
• 2010-09-05 Listed $22,800 REALCOMP
• 2004-12-29 Sold (Public Records) $125,000 Public Records
• 2004-09-03 Sold (MLS) $125,000 REALCOMP
• 2004-07-26 Listing Removed — REALCOMP
• 2004-07-26 Listed $124,900 REALCOMP
• 2004-06-25 Listing Removed — REALCOMP
• 2004-06-25 Listed $124,900 REALCOMP
• 2004-06-02 Listing Removed — REALCOMP
• 2004-06-02 Listed $127,000 REALCOMP
• 2004-06-01 Listing Removed — REALCOMP
• 2004-06-01 Listed $127,000 REALCOMP
• 2004-04-28 Listed $127,000 REALCOMP
• 1996-08-09 Sold (Public Records) $63,000 Public Records
• 1992-10-15 Sold (Public Records) $53,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,005 · +12.0% YoY. Source: county tax records.