7627 Patton St · Detroit, MI 48228

$84,900

3 bd · 1.0 ba · 878 sqft · SingleFamily public records · 20 Days on market

Built 1948 4,356 sqft lot Est $73k · 17% over ↓ 28% since listing

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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
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check this UPDATED brick bungalow featuring 3 bedrooms, 1 full bathroom, updated kitchen with dinning area and spacious living room. It also has a fenced backyard with a 2 car detached garage. Everything is new in this beautiful home. New roof, new windows, new electric through out the house and many more. Come check it out yourself. Land Contract available!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1948

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% 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 $1,276/mo this rent would consume 50% 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 $587 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 + 0.0% 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 20 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.62%
• DSCR: 1.83
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $72,874
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7702 Patton St	0.08mi	3/1.0	896 (+2%)	4mo	$74,000	$83	90
8277 Stout St	0.43mi	3/1.0	879 (+0%)	0mo	$45,000	$51	79
7730 Braile St	0.11mi	3/1.0	768 (-12%)	2mo	$68,000	$89	73
8084 Evergreen Ave	0.45mi	3/1.0	909 (+4%)	3mo	$77,000	$85	71
7756 Westwood St	0.59mi	3/1.0	871 (-1%)	2mo	$90,000	$103	70
6752 Evergreen Rd	0.58mi	2/1.0 (-1)	864 (-2%)	3mo	$45,000	$52	63
7278 Stout St	0.25mi	3/1.5	1,000 (+14%)	4mo	$109,900	$110	60
7296 Auburn St	0.49mi	3/1.0	968 (+10%)	2mo	$38,000	$39	58
8225 Grandville Ave	0.71mi	2/1.0 (-1)	906 (+3%)	2mo	$36,500	$40	55
6783 Westwood St	0.72mi	3/1.0	836 (-5%)	4mo	$65,000	$78	55
7313 Grandville Ave	0.64mi	2/1.0 (-1)	765 (-13%)	0mo	$70,000	$92	43
8620 Pierson St	0.62mi	3/1.0	1,005 (+14%)	5mo	$51,000	$51	43

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: 6.8%
• Equity multiple: 1.25×
• Total profit: $6,045
• Equity at exit: $12,659

10-year hold

• IRR: 13.1%
• Equity multiple: 1.89×
• Total profit: $21,270
• Equity at exit: $7,341

Cash invested: $23,772 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$445
• Tax from tax record: −$158 /mo · $1,902/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $369

Break-even live

Break-even rent $809

Max offer price $84,900

Occupancy floor 66%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	12d	1	0.15mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	0.24mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	0.31mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.33mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	44d	1	0.47mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	0.50mi
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	44d	1	0.88mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	44d	1	0.92mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.94mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	17d	1	1.09mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	5d	1	1.10mi
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	3d	1	1.11mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.19mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.20mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.20mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.20mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.20mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.20mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.20mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.20mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.22mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.22mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.22mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.22mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.23mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.23mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.23mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	1.28mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	44d	1	1.30mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	1.30mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	44d	1	1.31mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.44mi

Listing history 39 events

1. 2024-12-17
   status Pending
2. 2023-05-22
   soldstatus $82,500
3. 2023-05-22
   soldstatus $82,500
4. 2023-04-09
   status Pending 360-char remark

   Show marketing remark (360 chars)

   Check this UPDATED brick bungalow featuring 3 bedrooms, 1 full bathroom, updated kitchen with dinning area and spacious living room. It also has a fenced backyard with a 2 car detached garage. Everything is new in this beautiful home. New roof, new windows, new electric through out the house and many more. Come check it out yourself. Land Contract available!

5. 2023-04-09
   status Pending

   Show marketing remark (360 chars)

   Check this UPDATED brick bungalow featuring 3 bedrooms, 1 full bathroom, updated kitchen with dinning area and spacious living room. It also has a fenced backyard with a 2 car detached garage. Everything is new in this beautiful home. New roof, new windows, new electric through out the house and many more. Come check it out yourself. Land Contract available!

6. 2023-03-20
   listed $84,900 Active

   Show marketing remark (360 chars)

   Check this UPDATED brick bungalow featuring 3 bedrooms, 1 full bathroom, updated kitchen with dinning area and spacious living room. It also has a fenced backyard with a 2 car detached garage. Everything is new in this beautiful home. New roof, new windows, new electric through out the house and many more. Come check it out yourself. Land Contract available!

7. 2023-03-20
   listed $84,900 Active 360-char remark

   Show marketing remark (360 chars)

   Check this UPDATED brick bungalow featuring 3 bedrooms, 1 full bathroom, updated kitchen with dinning area and spacious living room. It also has a fenced backyard with a 2 car detached garage. Everything is new in this beautiful home. New roof, new windows, new electric through out the house and many more. Come check it out yourself. Land Contract available!

8. 2022-12-29
   historical
9. 2022-12-29
   historical
10. 2022-12-06
    listed $84,900 Active
11. 2022-12-06
    listed $84,900 Active
12. 2022-12-05
    historical
13. 2022-12-05
    historical
14. 2022-06-23
    price $89,999
15. 2022-06-22
    price $89,999
16. 2022-06-11
    price $99,000
17. 2022-06-11
    price $99,000
18. 2022-06-02
    listed $129,999 Active
19. 2022-06-02
    listed $129,999 Active
20. 2022-05-31
    historical
21. 2022-05-31
    historical
22. 2017-11-08
    soldstatus $14,000 Sold
23. 2017-11-08
    soldstatus $14,000 Closed
24. 2017-10-12
    status Pending
25. 2017-10-12
    status Pending
26. 2017-10-07
    historical Keep Showing-Contgcy Appl
27. 2017-10-07
    historical Contingent - Continue To Show
28. 2017-10-03
    listed $7,800 Active
29. 2017-10-03
    listed $7,800 Active
30. 2012-07-17
    soldstatus $83,436
31. 2010-12-06
    historical
32. 2008-06-26
    soldstatus $61,800
33. 2008-01-10
    soldstatus $61,800
34. 2007-08-28
    listed $79,000
35. 2007-08-27
    historical
36. 2007-02-27
    listed $79,000
37. 2006-10-07
    historical
38. 2005-10-03
    listed $115,000
39. 2005-10-03
    listed $115,000

ⓘ 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: $1,902 · $158/mo
• Projected year-2 tax: $1,902 · $158/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: $15,310
• − Mortgage interest: −$4,756
• − Property taxes: −$1,902
• − Insurance: −$424
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$2,470
• Taxable income: $3,308
• Est. tax owed @ 24.0%: −$794
• After-tax cash flow: $3,632/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

-28.3% since first listed

39 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-05-22 Sold (Public Records) $82,500 Public Records
• 2023-05-22 Sold (Public Records) $82,500 Public Records
• 2023-04-09 Pending — MiRealSource-MiMLS
• 2023-04-09 Pending — REALCOMP
• 2023-03-20 Listed $84,900 MiRealSource-MiMLS
• 2023-03-20 Listed $84,900 REALCOMP
• 2022-12-29 Listing Removed — MiRealSource-MiMLS
• 2022-12-29 Listing Removed — REALCOMP
• 2022-12-06 Listed $84,900 MiRealSource-MiMLS
• 2022-12-06 Listed $84,900 REALCOMP
• 2022-12-05 Listing Removed — MiRealSource-MiMLS
• 2022-12-05 Listing Removed — REALCOMP
• 2022-06-23 Price Changed $89,999 MiRealSource-MiMLS
• 2022-06-22 Price Changed $89,999 REALCOMP
• 2022-06-11 Price Changed $99,000 MiRealSource-MiMLS
• 2022-06-11 Price Changed $99,000 REALCOMP
• 2022-06-02 Listed $129,999 MiRealSource-MiMLS
• 2022-06-02 Listed $129,999 REALCOMP
• 2022-05-31 Coming Soon — MiRealSource-MiMLS
• 2022-05-31 Coming Soon — REALCOMP
• 2017-11-08 Sold (MLS) $14,000 MiRealSource-MiMLS
• 2017-11-08 Sold (MLS) $14,000 REALCOMP
• 2017-10-12 Pending — MiRealSource-MiMLS
• 2017-10-12 Pending — REALCOMP
• 2017-10-07 Contingent — MiRealSource-MiMLS
• 2017-10-07 Contingent — REALCOMP
• 2017-10-03 Listed $7,800 MiRealSource-MiMLS
• 2017-10-03 Listed $7,800 REALCOMP
• 2012-07-17 Sold (Public Records) $83,436 Public Records
• 2010-12-06 Listing Removed — REALCOMP
• 2008-06-26 Sold (Public Records) $61,800 Public Records
• 2008-01-10 Sold (MLS) $61,800 REALCOMP
• 2007-08-28 Listed $79,000 REALCOMP
• 2007-08-27 Listing Removed — REALCOMP
• 2007-02-27 Listed $79,000 REALCOMP
• 2006-10-07 Listing Removed — MiRealSource-MiMLS
• 2005-10-03 Listed $115,000 MiRealSource-MiMLS
• 2005-10-03 Listed $115,000 REALCOMP

Property tax history

+0.1%/yr

Latest (2025): $1,902 · -39.9% YoY. Source: county tax records.