9234 Piedmont St · Detroit, MI 48228

$80,000

3 bd · 1.0 ba · 957 sqft · SingleFamily public records · 69 Days on market

Built 1949 6,164 sqft lot $84/sqft · 71% above area Est $91k · 12% under

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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 +30.0/30.0
• ARV discount +12.7/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 9234 Piedmont Street in Detroit! This charming 3-bedroom, 1.5-bath brick ranch offers timeless appeal with a spacious 2-car detached garage. Relax in the bright 3 seasons room, or entertain in the basement, featuring a cozy knotty pine finish and a built-in bar. Don't miss out on this unique gem-schedule your showing today!

Key facts

• 6,164 sq ft lot
• 2 garage spots
• Built 1949

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $1,208/mo this rent would consume 47% 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 $553 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.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 8 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.
• Current owner paid $62k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.51% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.98%
• DSCR: 1.71
• GRM: 5.5

CMA / ARV

• ARV (median comp): $90,524
• List price: $80,000
• Delta: -11.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9221 Grandville Ave	0.09mi	3/1.0	971 (+2%)	2mo	$135,000	$139	92
9317 Artesian St	0.12mi	2/1.0 (-1)	994 (+4%)	1mo	$25,000	$25	82
8651 Brace Street St	0.44mi	3/1.0	987 (+3%)	2mo	$60,000	$61	72
9934 Warwick St	0.40mi	3/1.0	1,018 (+6%)	2mo	$70,000	$69	70
8686 Artesian St	0.37mi	3/1.0	864 (-10%)	2mo	$35,000	$41	65
8854 Stout St	0.62mi	3/1.0	989 (+3%)	2mo	$66,250	$67	64
8449 Penrod St	0.65mi	3/1.0	1,011 (+6%)	0mo	$95,000	$94	60
8427 Piedmont St	0.53mi	3/1.0	1,056 (+10%)	2mo	$62,000	$59	56
9116 Patton St	0.69mi	3/1.0	1,029 (+8%)	1mo	$45,000	$44	55
8225 Grandville Ave	0.66mi	2/1.0 (-1)	906 (-5%)	2mo	$36,500	$40	54
8309 Brace St	0.62mi	3/1.5	864 (-10%)	1mo	$28,500	$33	52
9328 Patton St	0.69mi	3/1.0	1,062 (+11%)	1mo	$50,000	$47	49

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $2,576
• Equity at exit: $11,928

10-year hold

• IRR: 9.2%
• Equity multiple: 1.60×
• Total profit: $13,355
• Equity at exit: $6,917

Cash invested: $22,400 (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: $1,208 high
• Mortgage (P&I): −$420
• Tax from tax record: −$203 /mo · $2,440/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $298

Break-even live

Break-even rent $831

Max offer price $80,000

Occupancy floor 70%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	43d	1	0.18mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	43d	1	0.28mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.34mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	0.41mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	17d	1	0.53mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	43d	1	0.66mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	0.67mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.71mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.71mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	0.72mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.72mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.72mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.73mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.73mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.74mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.74mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	0.76mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.77mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	0.77mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	0.85mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	0.92mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	43d	1	0.93mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	0.96mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.96mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.97mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	0.98mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	0.98mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	0.99mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	43d	1	1.00mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	1.02mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.04mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	1.09mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	43d	1	1.13mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	12d	1	1.24mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.29mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.43mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.48mi

Listing history 34 events

1. 2026-06-18
   days on market $80,000 Active 69 DOM
2. 2026-06-17
   days on market $80,000 Active 68 DOM
3. 2026-06-15
   days on market $80,000 Active 66 DOM
4. 2026-06-13
   days on market $80,000 Active 64 DOM
5. 2026-06-13
   days on market $80,000 Active 63 DOM
6. 2026-06-09
   days on market $80,000 Active 60 DOM
7. 2026-06-08
   days on market $80,000 Active 59 DOM
8. 2026-06-07
   days on market $80,000 Active 58 DOM
9. 2026-06-04
   days on market $80,000 Active 55 DOM
10. 2026-06-03
    days on market $80,000 Active 54 DOM
11. 2026-06-02
    days on market $80,000 Active 53 DOM
12. 2026-06-01
    days on market $80,000 Active 52 DOM
13. 2026-05-31
    days on market $80,000 Active 51 DOM
14. 2026-04-10
    listed $80,000 Active 336-char remark

    Show marketing remark (348 chars)

    Welcome to 9234 Piedmont Street in Detroit! This charming 3-bedroom, 1.5-bath brick ranch offers timeless appeal with a spacious 2-car detached garage. Relax in the bright 3 seasons room, or entertain in the basement, featuring a cozy knotty pine finish and a built-in bar. Don’t miss out on this unique gem—schedule your showing today!

15. 2026-04-10
    listed $80,000 Active 348-char remark

    Show marketing remark (348 chars)

    Welcome to 9234 Piedmont Street in Detroit! This charming 3-bedroom, 1.5-bath brick ranch offers timeless appeal with a spacious 2-car detached garage. Relax in the bright 3 seasons room, or entertain in the basement, featuring a cozy knotty pine finish and a built-in bar. Don’t miss out on this unique gem—schedule your showing today!

16. 2026-04-08
    historical $80,000 348-char remark

    Show marketing remark (348 chars)

    Welcome to 9234 Piedmont Street in Detroit! This charming 3-bedroom, 1.5-bath brick ranch offers timeless appeal with a spacious 2-car detached garage. Relax in the bright 3 seasons room, or entertain in the basement, featuring a cozy knotty pine finish and a built-in bar. Don’t miss out on this unique gem—schedule your showing today!

17. 2023-05-10
    soldstatus $62,000
18. 2023-05-08
    status Pending
19. 2023-05-06
    historical Contingent - Continue To Show
20. 2023-05-06
    historical Keep Showing-Contgcy Appl
21. 2023-04-29
    soldstatus $62,000 Sold
22. 2023-04-29
    soldstatus $62,000 Closed
23. 2023-03-04
    price $69,900
24. 2023-03-03
    price $69,900
25. 2023-03-03
    status Active
26. 2023-03-03
    status Active
27. 2023-02-07
    status Pending
28. 2023-02-07
    status Pending
29. 2023-02-01
    listed $65,000 Active
30. 2023-02-01
    listed $65,000 Active
31. 2009-03-09
    soldstatus $9,000
32. 2008-12-22
    listed $9,900
33. 2005-08-05
    historical
34. 2005-06-27
    listed $80,000

ⓘ 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: $2,440 · $203/mo
• Projected year-2 tax: $2,440 · $203/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,498
• − Mortgage interest: −$4,481
• − Property taxes: −$2,440
• − Insurance: −$400
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$2,327
• Taxable income: $2,530
• Est. tax owed @ 24.0%: −$607
• After-tax cash flow: $2,972/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

+0.0% since first listed

21 events — show timeline

• 2026-04-10 Listed $80,000 REALCOMP
• 2026-04-10 Listed $80,000 MiRealSource-MiMLS
• 2026-04-08 Coming Soon $80,000 MiRealSource-MiMLS
• 2023-05-10 Sold (Public Records) $62,000 Public Records
• 2023-05-08 Pending — MiRealSource-MiMLS
• 2023-05-06 Contingent — REALCOMP
• 2023-05-06 Contingent — MiRealSource-MiMLS
• 2023-04-29 Sold (MLS) $62,000 MiRealSource-MiMLS
• 2023-04-29 Sold (MLS) $62,000 REALCOMP
• 2023-03-04 Price Changed $69,900 MiRealSource-MiMLS
• 2023-03-03 Price Changed $69,900 REALCOMP
• 2023-03-03 Relisted — MiRealSource-MiMLS
• 2023-03-03 Relisted — REALCOMP
• 2023-02-07 Pending — MiRealSource-MiMLS
• 2023-02-07 Pending — REALCOMP
• 2023-02-01 Listed $65,000 MiRealSource-MiMLS
• 2023-02-01 Listed $65,000 REALCOMP
• 2009-03-09 Sold (MLS) $9,000 REALCOMP
• 2008-12-22 Listed $9,900 REALCOMP
• 2005-08-05 Listing Removed — REALCOMP
• 2005-06-27 Listed $80,000 REALCOMP

Property tax history

+5.9%/yr

Latest (2025): $2,440 · -37.9% YoY. Source: county tax records.