7393 Vaughan St · Detroit, MI 48228

$78,000

3 bd · 1.0 ba · 1,069 sqft · SingleFamily public records · 184 Days on market

Built 1937 5,227 sqft lot $73/sqft · 10% above area Est $71k · 10% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• ARV discount +2.8/15.0
• 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

* CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1937

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 10.2% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $1,329/mo this rent would consume 52% 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 $539 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $12k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.70% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.97%
• DSCR: 2.16
• GRM: 4.9

CMA / ARV

• ARV (median comp): $70,649
• List price: $78,000
• Delta: 10.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7690 Heyden St	0.15mi	3/1.0	1,019 (-5%)	1mo	$73,000	$72	84
7816 Fielding St	0.32mi	3/1.0	1,022 (-4%)	2mo	$57,000	$56	76
6782 Evergreen Ave	0.37mi	3/1.0	1,041 (-3%)	3mo	$120,000	$115	76
7296 Auburn St	0.23mi	3/1.0	968 (-9%)	2mo	$38,000	$39	72
8234 Patton St	0.52mi	3/1.0	1,010 (-6%)	2mo	$60,000	$59	65
8427 Piedmont St	0.73mi	3/1.0	1,056 (-1%)	2mo	$62,000	$59	62
6719 Westwood St	0.53mi	3/1.0	960 (-10%)	1mo	$62,500	$65	58
6712 Artesian St	0.73mi	3/1.0	1,000 (-6%)	1mo	$97,500	$98	54
8084 Evergreen Ave	0.40mi	3/1.0	909 (-15%)	3mo	$77,000	$85	54
6760 Warwick St	0.65mi	3/1.0	960 (-10%)	2mo	$70,000	$73	51
6409 Grandville Ave	0.70mi	3/1.5	960 (-10%)	3mo	$128,000	$133	46
8418 Grandville Ave	0.70mi	3/1.0	1,229 (+15%)	2mo	$60,000	$49	41

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: 16.1%
• Equity multiple: 1.62×
• Total profit: $13,608
• Equity at exit: $11,630

10-year hold

• IRR: 22.3%
• Equity multiple: 2.64×
• Total profit: $35,728
• Equity at exit: $6,744

Cash invested: $21,840 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$409
• Tax from tax record: −$136 /mo · $1,633/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $473

Break-even live

Break-even rent $731

Max offer price $78,000

Occupancy floor 59%

Sensitivity live

Price	-10% $517	-5% $495	+0% $473	+5% $451	+10% $428
Rent	-10% $368	-5% $420	+0% $473	+5% $525	+10% $578
Rate	-1.0pp $512	-0.5pp $492	base $473	+0.5pp $452	+1.0pp $432

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	0.12mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.25mi
7265 Braile St Detroit, MI	3.0	1.0	1200	$1,499	$1.25	24d	1	0.28mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	18d	1	0.32mi
6874 Country Ln Dearborn Heights, MI	2.0	1.5	1400	$1,500	$1.07	44d	1	0.38mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	0.51mi
20571 Brooklawn Dr Dearborn Heights, MI	3.0	2.0	1254	$1,850	$1.48	44d	1	0.64mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	44d	1	0.68mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	17d	1	0.84mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.86mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	5d	1	0.97mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	44d	1	1.07mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	1.08mi
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	44d	1	1.10mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	1.11mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	44d	1	1.20mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.28mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.29mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.29mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.29mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.29mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.29mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.30mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.30mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.30mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	44d	1	1.30mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.32mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.32mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	18d	1	1.34mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	22d	1	1.34mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	3d	10	1.34mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.35mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.36mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.36mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.36mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.37mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	1.37mi
7618 Hazelton St Dearborn Heights, MI	3.0	1.0	1310	$1,700	$1.30	18d	1	1.43mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,430	$2.09	2d	12	1.44mi
8254 W Parkway St Redford, MI	3.0	1.0	1220	$1,350	$1.11	13d	1	1.46mi

Listing history 10 events

1. 2026-05-06
   price $78,000 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

2. 2026-05-05
   price $78,000 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

3. 2026-04-09
   price $82,000 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

4. 2026-04-09
   price $82,000 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

5. 2026-02-04
   price $85,000 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

6. 2026-02-03
   price $85,000 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

7. 2025-11-26
   listed $90,000 Active 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

8. 2025-11-25
   listed $90,000 Active 117-char remark

   Show marketing remark (117 chars)

   * CALLING ALL INVESTORS!!!! GREAT MONEY MAKER RENTED WITH GOOD PAYING TENANTS !!!!! DO NOT DISTURB THE TENANTS * *

9. 2021-09-20
   soldstatus $84,900
10. 2021-02-18
    listed $34,900

ⓘ 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: $1,633 · $136/mo
• Projected year-2 tax: $1,633 · $136/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 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,953
• − Mortgage interest: −$4,369
• − Property taxes: −$1,633
• − Insurance: −$390
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$2,269
• Taxable income: $4,739
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $4,534/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

+123.5% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $78,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $78,000 REALCOMP
• 2026-04-09 Price Changed $82,000 MiRealSource-MiMLS
• 2026-04-09 Price Changed $82,000 REALCOMP
• 2026-02-04 Price Changed $85,000 MiRealSource-MiMLS
• 2026-02-03 Price Changed $85,000 REALCOMP
• 2025-11-26 Listed $90,000 REALCOMP
• 2025-11-25 Listed $90,000 MiRealSource-MiMLS
• 2021-09-20 Sold (Public Records) $84,900 Public Records
• 2021-02-18 Listed $34,900 REALCOMP

Property tax history

+5.1%/yr

Latest (2025): $1,633 · -9.6% YoY. Source: county tax records.