14622 Washburn St · Detroit, MI 48238

$87,080

3 bd · 1.0 ba · 712 sqft · SingleFamily public records · 34 Days on market

Built 1964 3,485 sqft lot $122/sqft · 149% above area

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Presenting an amazing investment opportunity. This property offers a unique opportunity to acquire a piece of an existing real estate portfolio, professionally managed with an existing Section 8 tenant. This property represents an exceptional opportunity to acquire a residence of significant character and enduring appeal.

Key facts

• 3,485 sq ft lot
• Built 1964
• Listed 34 days

Property features AI

Finance

• Other: Lot dimensions approximately 36 x 101 (0.08 acres); Subdivision: WARK-GILBERT COS ORCHARD GROVE; Cross street: Lyndon and Wyoming; Directions: East of Washburn
• Financial info: Annual taxes: $1,849

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residential; Aluminum siding
• Construction: Aluminum siding construction; Above-grade finished area: 712 square feet
• Exterior features: Paved road access

Interior

• Bedrooms: Total rooms: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Ground-level entry with steps; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $84k (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 fast (+6.1%/yr); 346 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 39% of the median local income ($33k/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 $602 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 + 6.1% rent growth), your $24k 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 ($84k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y 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.

Recommended offer $84,467 (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 1964 — 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: 1.23% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.05%
• DSCR: 1.40
• GRM: 6.8

CMA / ARV

• ARV (median comp): $34,941
• List price: $87,080
• Delta: 149.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14611 Washburn St	0.03mi	2/1.0 (-1)	790 (+11%)	10mo	$34,900	$44	67
13918 Pinehurst St	0.63mi	2/1.0 (-1)	713 (+0%)	17mo	$34,000	$48	51
14830 Greenlawn St	0.53mi	2/1.0 (-1)	672 (-6%)	13mo	$15,000	$22	50
14887 Mendota St	0.29mi	3/1.0	803 (+13%)	20mo	$25,000	$31	48
14619 Greenlawn St	0.50mi	2/1.0 (-1)	804 (+13%)	5mo	$52,000	$65	46
14601 San Juan Dr	0.73mi	3/1.5	816 (+15%)	4mo	$37,000	$45	36
14801 Cheyenne St NW	0.75mi	2/1.0 (-1)	757 (+6%)	18mo	$65,000	$86	35
15417 Pinehurst St	0.60mi	3/1.0	796 (+12%)	21mo	$8,000	$10	34

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,151
• Equity at exit: $12,984

10-year hold

• IRR: 14.0%
• Equity multiple: 2.30×
• Total profit: $31,613
• Equity at exit: $7,529

Cash invested: $24,382 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$457
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $184

Break-even live

Break-even rent $841

Max offer price $87,080

Occupancy floor 78%

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: $21,770
• Closing costs: $2,612
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	1.00mi
14950 Stoepel St Detroit, MI	2.0	1.0	600	$900	$1.50	24d	1	1.00mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.27mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	18d	1	1.43mi

Listing history 14 events

1. 2026-06-19
   status $87,080 Active 34 DOM
2. 2026-04-24
   listed $87,080 Active 323-char remark

   Show marketing remark (323 chars)

   Presenting an amazing investment opportunity. This property offers a unique opportunity to acquire a piece of an existing real estate portfolio, professionally managed with an existing Section 8 tenant. This property represents an exceptional opportunity to acquire a residence of significant character and enduring appeal.

3. 2026-04-24
   listed $87,080 Active 323-char remark

   Show marketing remark (323 chars)

   Presenting an amazing investment opportunity. This property offers a unique opportunity to acquire a piece of an existing real estate portfolio, professionally managed with an existing Section 8 tenant. This property represents an exceptional opportunity to acquire a residence of significant character and enduring appeal.

4. 2026-01-08
   historical
5. 2025-09-19
   listed $90,000 Active
6. 2025-09-19
   listed $90,000 Active
7. 2025-01-02
   soldstatus $340,000
8. 2025-01-01
   status Pending
9. 2025-01-01
   status Pending
10. 2024-12-24
    soldstatus $68,000 Closed
11. 2024-12-24
    soldstatus $68,000 Closed
12. 2024-08-28
    listed $75,000 Active
13. 2024-08-28
    listed $75,000 Active
14. 2022-01-14
    soldstatus $55,000

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $2,056 · $171/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 ≥97°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: $12,882
• − Mortgage interest: −$4,878
• − Property taxes: −$2,056
• − Insurance: −$435
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,533
• Taxable income: $919
• Est. tax owed @ 24.0%: −$221
• After-tax cash flow: $1,986/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+58.3% since first listed

17 events — show timeline

• 2026-06-18 Relisted — MiRealSource-MiMLS
• 2026-06-18 Relisted — REALCOMP
• 2026-05-28 Pending — REALCOMP
• 2026-05-28 Pending — MiRealSource-MiMLS
• 2026-04-24 Listed $87,080 REALCOMP
• 2026-04-24 Listed $87,080 MiRealSource-MiMLS
• 2026-01-08 Listing Removed — MiRealSource-MiMLS
• 2025-09-19 Listed $90,000 MiRealSource-MiMLS
• 2025-09-19 Listed $90,000 REALCOMP
• 2025-01-02 Sold (Public Records) $340,000 Public Records
• 2025-01-01 Pending — MiRealSource-MiMLS
• 2025-01-01 Pending — REALCOMP
• 2024-12-24 Sold (MLS) $68,000 REALCOMP
• 2024-12-24 Sold (MLS) $68,000 MiRealSource-MiMLS
• 2024-08-28 Listed $75,000 REALCOMP
• 2024-08-28 Listed $75,000 MiRealSource-MiMLS
• 2022-01-14 Sold (Public Records) $55,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $2,056 · +37.2% YoY. Source: county tax records.