8695 Evergreen Ave · Detroit, MI 48228

$75,000

2 bd · 1.0 ba · 692 sqft · SingleFamily public records · 4 Days on market

Built 1949 4,792 sqft lot $108/sqft · 61% above area ↓ 17% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• 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

2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

Key facts

• Near schools
• Practical layout
• Full bathroom

Tags

• WARRENDALE NEIGHBORHOOD
• PRACTICAL LAYOUT
• GENEROUS LIVING AREAS
• FULL BATHROOM
• PRIME LOCATION
• NEAR SCHOOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

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 $75k).

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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 42% of the median local income ($31k/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 $519 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1949 — 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: 1.43% ✓
• Cap rate: 11.90%
• Cash-on-cash: 20.03%
• DSCR: 1.89
• GRM: 5.8

CMA / ARV

• ARV (median comp): $47,177
• List price: $75,000
• Delta: 58.97%
• 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
8645 Fielding St	0.25mi	2/1.0	693 (+0%)	2mo	$39,000	$56	86
8411 Fielding St	0.32mi	2/1.0	693 (+0%)	1mo	$47,000	$68	84
9107 Vaughan St	0.27mi	2/1.0	732 (+6%)	12mo	$47,000	$64	68
8499 Braile St	0.39mi	2/1.0	726 (+5%)	8mo	$55,000	$76	67
8257 Minock St	0.34mi	2/1.0	737 (+6%)	8mo	$32,000	$43	67
9101 Heyden St	0.28mi	2/1.0	740 (+7%)	13mo	$40,000	$54	64
8062 Grandville Ave	0.52mi	2/1.0	732 (+6%)	6mo	$60,000	$82	60
9271 Minock St	0.43mi	3/1.0 (+1)	736 (+6%)	12mo	$85,714	$116	54
8900 Artesian St	0.55mi	2/1.0	746 (+8%)	10mo	$35,000	$47	53
9046 Grandville Ave	0.40mi	2/1.0	787 (+14%)	11mo	$72,000	$91	49
7701 Piedmont St	0.72mi	3/1.0 (+1)	706 (+2%)	13mo	$86,500	$123	48
7730 Braile St	0.66mi	3/1.0 (+1)	768 (+11%)	2mo	$68,000	$89	44

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: 8.8%
• Equity multiple: 1.34×
• Total profit: $7,041
• Equity at exit: $11,183

10-year hold

• IRR: 15.4%
• Equity multiple: 2.08×
• Total profit: $22,769
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$393
• Tax from tax record: −$71 /mo · $846/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $351

Break-even live

Break-even rent $627

Max offer price $75,000

Occupancy floor 62%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.31mi
20237 W Chicago Detroit, MI	1.0	1.0	650	$850	$1.31	44d	1	0.54mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	0.66mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	44d	1	0.80mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	0.94mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	17d	1	1.18mi

Listing history 29 events

1. 2026-06-18
   days on market $75,000 Active 4 DOM
2. 2026-06-17
   days on market $75,000 Active 3 DOM
3. 2026-06-16
   days on market $75,000 Active 2 DOM
4. 2026-06-15
   listing id $75,000 Active 1 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   days on marketlisting id $75,000 Active 1 DOM
7. 2026-06-13
   days on market $75,000 Active 298 DOM
8. 2026-06-13
   days on market $75,000 Active 297 DOM
9. 2026-06-09
   days on market $75,000 Active 294 DOM
10. 2026-06-08
    days on market $75,000 Active 293 DOM
11. 2026-06-07
    days on market $75,000 Active 292 DOM
12. 2026-06-04
    days on market $75,000 Active 289 DOM
13. 2026-06-03
    days on market $75,000 Active 288 DOM
14. 2026-06-01
    days on market $75,000 Active 286 DOM
15. 2026-05-31
    days on market $75,000 Active 285 DOM
16. 2026-04-22
    price $75,000 115-char remark

    Show marketing remark (115 chars)

    2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

17. 2026-04-22
    price $75,000 115-char remark

    Show marketing remark (115 chars)

    2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

18. 2026-01-26
    price $80,000 115-char remark

    Show marketing remark (115 chars)

    2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

19. 2026-01-26
    price $80,000 115-char remark

    Show marketing remark (115 chars)

    2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

20. 2025-08-19
    listed $85,000 Active 115-char remark

    Show marketing remark (115 chars)

    2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

21. 2025-08-18
    listed $85,000 Active 115-char remark

    Show marketing remark (115 chars)

    2 bedroom, one-bathroom home located in Detroit, on the city's west side. The property offers a spacious layout !!!

22. 2021-07-19
    soldstatus $74,900
23. 2011-02-04
    soldstatus $300
24. 2011-02-04
    soldstatus $300
25. 2010-12-02
    listed $750
26. 2010-12-02
    listed $750
27. 2008-12-26
    historical
28. 2007-12-26
    listed $10,500
29. 2005-11-01
    soldstatus $90,000

ⓘ 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: $846 · $71/mo
• Projected year-2 tax: $1,001 · $83/mo
• Expected delta: +$154/yr (+$13/mo · 18.3%)

ⓘ 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 ≥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: $12,846
• − Mortgage interest: −$4,201
• − Property taxes: −$846
• − Insurance: −$375
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$2,182
• Taxable income: $3,186
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $3,442/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

-16.7% since first listed

14 events — show timeline

• 2026-04-22 Price Changed $75,000 MiRealSource-MiMLS
• 2026-04-22 Price Changed $75,000 REALCOMP
• 2026-01-26 Price Changed $80,000 MiRealSource-MiMLS
• 2026-01-26 Price Changed $80,000 REALCOMP
• 2025-08-19 Listed $85,000 REALCOMP
• 2025-08-18 Listed $85,000 MiRealSource-MiMLS
• 2021-07-19 Sold (Public Records) $74,900 Public Records
• 2011-02-04 Sold (MLS) $300 MiRealSource-MiMLS
• 2011-02-04 Sold (MLS) $300 REALCOMP
• 2010-12-02 Listed $750 MiRealSource-MiMLS
• 2010-12-02 Listed $750 REALCOMP
• 2008-12-26 Listing Removed — REALCOMP
• 2007-12-26 Listed $10,500 REALCOMP
• 2005-11-01 Sold (Public Records) $90,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $846 · -7.5% YoY. Source: county tax records.