10147 Somerset Ave · Detroit, MI 48224

$109,900

3 bd · 1.0 ba · 1,162 sqft · SingleFamily public records · 104 Days on market

Built 1939 4,792 sqft lot $95/sqft · 35% above area ↓ 25% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this beautifully renovated, move-in-ready three-bedroom, one-bathroom brick home, perfectly situated in the heart of Eastside Detroit. Fresh updates throughout. This is a fantastic opportunity for buyers seeking flexibility, as the seller is offering seller financing and land contract options. Don't miss out on this must-see property. Call today to discuss terms or to schedule your private appointment! Please note that all information is estimated and not guaranteed. Buyers are advised to verify all information before closing.

Key facts

• Renovated
• Move-in-ready
• Brick home

Tags

• RENOVATED
• MOVE-IN-READY
• BRICK HOME
• FRESH UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% 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 flat; 484 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); 40% 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).
• This rent runs 37% of the median local income ($45k/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 $760 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.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $32k; list at $110k implies a 243% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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: 1.25% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.69%
• DSCR: 1.61
• GRM: 6.7

CMA / ARV

• ARV (median comp): $65,869
• List price: $109,900
• Delta: 66.85%
• 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
10318 Beaconsfield St	0.09mi	3/1.5	1,146 (-1%)	1mo	$78,000	$68	91
9722 Everts St	0.20mi	3/1.0	1,178 (+1%)	0mo	$147,000	$125	88
9988 Somerset Ave	0.14mi	3/1.0	1,206 (+4%)	1mo	$130,000	$108	86
9771 Mckinney St	0.12mi	4/1.0 (+1)	1,112 (-4%)	2mo	$100,000	$90	80
9500 Lakepointe St	0.50mi	3/1.0	1,130 (-3%)	0mo	$125,000	$111	72
10185 Beaconsfield St	0.18mi	3/1.0	1,300 (+12%)	2mo	$73,000	$56	70
9817 Somerset Ave	0.24mi	3/1.0	1,290 (+11%)	2mo	$30,000	$23	69
11742 Whitehill St	0.63mi	3/1.5	1,228 (+6%)	1mo	$61,000	$50	59
10904 N Mogul St	0.58mi	3/1.0	1,045 (-10%)	0mo	$113,000	$108	56
10830 Mckinney St	0.64mi	3/1.0	1,066 (-8%)	1mo	$40,199	$38	55
10319 Mckinney St	0.34mi	4/1.0 (+1)	990 (-15%)	1mo	$25,000	$25	54
5743 Buckingham Ave	0.58mi	3/1.5	1,328 (+14%)	2mo	$160,000	$120	45

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,504
• Equity at exit: $16,386

10-year hold

• IRR: 8.6%
• Equity multiple: 1.59×
• Total profit: $18,134
• Equity at exit: $9,502

Cash invested: $30,772 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,369 high
• Mortgage (P&I): −$576
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $351

Break-even live

Break-even rent $924

Max offer price $109,900

Occupancy floor 69%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.15mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	0.24mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.25mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	0.30mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	43d	1	0.33mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	14d	1	0.37mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	4d	1	0.37mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.39mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	0.40mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	0.42mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	0.43mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.44mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	10d	1	0.45mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	0.50mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.50mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	0.50mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.51mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	0.51mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	0.54mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.55mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	0.57mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	0.57mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	4d	1	0.59mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.65mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	43d	1	0.67mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.67mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.69mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.69mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	0.70mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.71mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	14d	1	0.73mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.74mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	0.74mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	0.76mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.81mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	43d	1	0.81mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	0.82mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.82mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	0.82mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.88mi

Listing history 22 events

1. 2026-06-18
   days on market $109,900 Active 104 DOM
2. 2026-06-17
   days on market $109,900 Active 103 DOM
3. 2026-06-15
   days on market $109,900 Active 101 DOM
4. 2026-06-13
   days on market $109,900 Active 99 DOM
5. 2026-06-13
   days on market $109,900 Active 98 DOM
6. 2026-06-10
   remarks 575-char remark
7. 2026-06-10
   price $109,900 Active 95 DOM
8. 2026-06-09
   days on market $89,000 Active 95 DOM
9. 2026-06-08
   days on market $89,000 Active 94 DOM
10. 2026-06-07
    days on market $89,000 Active 93 DOM
11. 2026-06-04
    days on market $89,000 Active 90 DOM
12. 2026-06-03
    days on market $89,000 Active 89 DOM
13. 2026-06-01
    days on market $89,000 Active 87 DOM
14. 2026-05-31
    days on market $89,000 Active 86 DOM
15. 2026-05-07
    price $89,000 541-char remark

    Show marketing remark (541 chars)

    Discover this beautifully renovated, move-in-ready three-bedroom, one-bathroom brick home, perfectly situated in the heart of Eastside Detroit. Fresh updates throughout. This is a fantastic opportunity for buyers seeking flexibility, as the seller is offering seller financing and land contract options. Don't miss out on this must-see property. Call today to discuss terms or to schedule your private appointment! Please note that all information is estimated and not guaranteed. Buyers are advised to verify all information before closing.

16. 2026-05-06
    price $89,000 541-char remark

    Show marketing remark (541 chars)

    Discover this beautifully renovated, move-in-ready three-bedroom, one-bathroom brick home, perfectly situated in the heart of Eastside Detroit. Fresh updates throughout. This is a fantastic opportunity for buyers seeking flexibility, as the seller is offering seller financing and land contract options. Don't miss out on this must-see property. Call today to discuss terms or to schedule your private appointment! Please note that all information is estimated and not guaranteed. Buyers are advised to verify all information before closing.

17. 2026-03-06
    listed $110,000 Active 541-char remark

    Show marketing remark (541 chars)

    Discover this beautifully renovated, move-in-ready three-bedroom, one-bathroom brick home, perfectly situated in the heart of Eastside Detroit. Fresh updates throughout. This is a fantastic opportunity for buyers seeking flexibility, as the seller is offering seller financing and land contract options. Don't miss out on this must-see property. Call today to discuss terms or to schedule your private appointment! Please note that all information is estimated and not guaranteed. Buyers are advised to verify all information before closing.

18. 2026-03-06
    listed $110,000 Active 541-char remark

    Show marketing remark (541 chars)

    Discover this beautifully renovated, move-in-ready three-bedroom, one-bathroom brick home, perfectly situated in the heart of Eastside Detroit. Fresh updates throughout. This is a fantastic opportunity for buyers seeking flexibility, as the seller is offering seller financing and land contract options. Don't miss out on this must-see property. Call today to discuss terms or to schedule your private appointment! Please note that all information is estimated and not guaranteed. Buyers are advised to verify all information before closing.

19. 2007-04-02
    soldstatus $32,000
20. 2006-12-13
    listed $44,900
21. 2006-04-07
    soldstatus $119,000
22. 2006-04-07
    soldstatus $79,006

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $1,495 · $125/mo
• Expected delta: +$198/yr (+$16/mo · 15.3%)

ⓘ 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 ≥95°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: $16,426
• − Mortgage interest: −$6,156
• − Property taxes: −$1,297
• − Insurance: −$550
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$3,197
• Taxable income: $2,598
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $3,591/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-25.2% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $89,000 MiRealSource-MiMLS
• 2026-05-06 Price Changed $89,000 REALCOMP
• 2026-03-06 Listed $110,000 REALCOMP
• 2026-03-06 Listed $110,000 MiRealSource-MiMLS
• 2007-04-02 Sold (MLS) $32,000 REALCOMP
• 2006-12-13 Listed $44,900 REALCOMP
• 2006-04-07 Sold (Public Records) $79,006 Public Records
• 2006-04-07 Sold (Public Records) $119,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,297 · -32.0% YoY. Source: county tax records.