7487 W Outer Dr · Detroit, MI 48235

$115,000

3 bd · 1.0 ba · 1,167 sqft · SingleFamily public records · 51 Days on market

Built 1941 5,227 sqft lot $99/sqft · 28% above area

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• 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

This home has beautiful curb appeal with its two-toned brick exterior and large porch with enough room to place a table and chairs on for enjoying Michigan's cozy evenings. Large fenced in back yard and two car detached garage. The living room has the original fireplace, updated to a more modern look and adds a unique feature to the accent wall it is up against. Solid wood flooring stretched through the main floor giving the home a warm feeling. The largest room upstairs has received updated recessed lighting and has an open floor plan. The basement is clean and dry but unfinished.

Key facts

• Open floor plan
• Large porch
• Fenced in back yard

Tags

• TWO TONED BRICK EXTERIOR
• LARGE PORCH
• FENCED IN BACK YARD
• ORIGINAL FIREPLACE
• UPDATED RECESSED LIGHTING
• OPEN FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (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); 283 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 45% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $89k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1941 — 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: 1.28% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.91%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (median comp): $72,758
• List price: $115,000
• Delta: 58.06%
• 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
17540 Asbury Park St	0.08mi	3/1.0	1,100 (-6%)	4mo	$57,500	$52	84
18239 Saint Marys St	0.32mi	3/1.0	1,136 (-3%)	1mo	$124,900	$110	79
16818 Gilchrist St	0.37mi	3/1.0	1,190 (+2%)	3mo	$83,000	$70	77
16773 Ferguson St	0.38mi	3/1.0	1,156 (-1%)	6mo	$62,000	$54	76
16727 Mansfield St	0.44mi	3/1.5	1,207 (+3%)	3mo	$165,000	$137	69
17355 Saint Marys St	0.08mi	3/1.0	1,000 (-14%)	5mo	$55,000	$55	68
16709 Lindsay St	0.53mi	3/1.0	1,218 (+4%)	2mo	$124,888	$103	66
16199 Ferguson St	0.63mi	3/1.0	1,192 (+2%)	4mo	$85,000	$71	64
18217 Archdale St	0.52mi	3/1.0	1,085 (-7%)	0mo	$82,000	$76	64
18052 Prevost St	0.33mi	3/1.5	1,270 (+9%)	5mo	$90,000	$71	64
16839 Prevost St	0.39mi	3/1.0	1,272 (+9%)	6mo	$135,000	$106	62
18477 Prevost St	0.53mi	3/2.0	1,234 (+6%)	2mo	$163,695	$133	60

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $7,212
• Equity at exit: $17,147

10-year hold

• IRR: 15.4%
• Equity multiple: 2.26×
• Total profit: $40,612
• Equity at exit: $9,943

Cash invested: $32,200 (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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$603
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $400

Break-even live

Break-even rent $961

Max offer price $115,000

Occupancy floor 68%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	2d	1	0.15mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	0.30mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	16d	1	0.39mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	43d	1	0.42mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	0.45mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	0.47mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	0.56mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	0.61mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	5d	1	0.64mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	5d	1	0.69mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	0.72mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	0.76mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	0.80mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	16d	1	0.82mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	0.93mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.94mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	17d	1	0.98mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	0.98mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	1.03mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	2d	1	1.04mi
19400 Harlow St Detroit, MI	4.0	1.0	1298	$1,275	$0.98	16d	1	1.09mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	43d	1	1.09mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	1.09mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	16d	1	1.11mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	16d	1	1.14mi
19503 Mansfield St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	16d	1	1.14mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	16d	1	1.15mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	1.16mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	1.17mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	16d	1	1.19mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	43d	1	1.24mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	1.24mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	12d	1	1.28mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	43d	1	1.30mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	1.34mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	1.34mi
18450 Edinborough Rd Detroit, MI	3.0	1.0	1000	$1,500	$1.50	43d	1	1.36mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.39mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	1.39mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	1.39mi

Listing history 12 events

1. 2026-05-03
   status Pending 588-char remark

   Show marketing remark (588 chars)

   This home has beautiful curb appeal with its two-toned brick exterior and large porch with enough room to place a table and chairs on for enjoying Michigan's cozy evenings. Large fenced in back yard and two car detached garage. The living room has the original fireplace, updated to a more modern look and adds a unique feature to the accent wall it is up against. Solid wood flooring stretched through the main floor giving the home a warm feeling. The largest room upstairs has received updated recessed lighting and has an open floor plan. The basement is clean and dry but unfinished.

2. 2026-05-03
   status Pending 588-char remark

   Show marketing remark (588 chars)

   This home has beautiful curb appeal with its two-toned brick exterior and large porch with enough room to place a table and chairs on for enjoying Michigan's cozy evenings. Large fenced in back yard and two car detached garage. The living room has the original fireplace, updated to a more modern look and adds a unique feature to the accent wall it is up against. Solid wood flooring stretched through the main floor giving the home a warm feeling. The largest room upstairs has received updated recessed lighting and has an open floor plan. The basement is clean and dry but unfinished.

3. 2026-03-13
   listed $115,000 Active 588-char remark

   Show marketing remark (588 chars)

   This home has beautiful curb appeal with its two-toned brick exterior and large porch with enough room to place a table and chairs on for enjoying Michigan's cozy evenings. Large fenced in back yard and two car detached garage. The living room has the original fireplace, updated to a more modern look and adds a unique feature to the accent wall it is up against. Solid wood flooring stretched through the main floor giving the home a warm feeling. The largest room upstairs has received updated recessed lighting and has an open floor plan. The basement is clean and dry but unfinished.

4. 2026-03-13
   listed $115,000 Active 588-char remark

   Show marketing remark (588 chars)

   This home has beautiful curb appeal with its two-toned brick exterior and large porch with enough room to place a table and chairs on for enjoying Michigan's cozy evenings. Large fenced in back yard and two car detached garage. The living room has the original fireplace, updated to a more modern look and adds a unique feature to the accent wall it is up against. Solid wood flooring stretched through the main floor giving the home a warm feeling. The largest room upstairs has received updated recessed lighting and has an open floor plan. The basement is clean and dry but unfinished.

5. 2019-08-20
   soldstatus $89,000
6. 2019-06-19
   soldstatus $32,000 Sold
7. 2019-06-19
   soldstatus $32,000 Closed
8. 2019-02-26
   status Pending
9. 2019-02-26
   status Pending
10. 2019-02-18
    listed $19,900 Active
11. 2019-02-18
    listed $19,900 Active
12. 1993-08-18
    soldstatus $13,960

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $1,533 · $128/mo
• Expected delta: +$238/yr (+$20/mo · 18.4%)

ⓘ 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 ≥98°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: $17,604
• − Mortgage interest: −$6,442
• − Property taxes: −$1,295
• − Insurance: −$575
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − Depreciation: −$3,345
• Taxable income: $3,130
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $4,049/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -153.02%
• Current HPI: 263.6326
• 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

+723.8% since first listed

12 events — show timeline

• 2026-05-03 Pending — MiRealSource-MiMLS
• 2026-05-03 Pending — REALCOMP
• 2026-03-13 Listed $115,000 REALCOMP
• 2026-03-13 Listed $115,000 MiRealSource-MiMLS
• 2019-08-20 Sold (Public Records) $89,000 Public Records
• 2019-06-19 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2019-06-19 Sold (MLS) $32,000 REALCOMP
• 2019-02-26 Pending — MiRealSource-MiMLS
• 2019-02-26 Pending — REALCOMP
• 2019-02-18 Listed $19,900 MiRealSource-MiMLS
• 2019-02-18 Listed $19,900 REALCOMP
• 1993-08-18 Sold (Public Records) $13,960 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,295 · -54.0% YoY. Source: county tax records.