8418 Brace St · Detroit, MI 48228

$17,400

3 bd · 1.0 ba · 866 sqft · SingleFamily public records · 80 Days on market

Built 1943 5,663 sqft lot $20/sqft · 65% below area ↓ 13% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Solid investment opportunity in Warrendale - just outside of Dearborn & Dearborn Heights! This 3-bedroom, 1-bath ranch at offers a practical single-level layout that appeals to many types of buyers seeking convenience and functionality. The home features three well-sized bedrooms, a spacious living area, a full basement, and 1 car garage. The basement provides ample storage and potential for additional finished space. Once rehabbed, the property presents strong potential for cash flow, long-term appreciation, and is well-positioned for steady rental demand. Make an appointment today!

Key facts

• 5,663 sq ft lot
• Garage
• Built 1943

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $17k.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $17k).
• Recommended offer: $16k (6.0% below list) — sets the bar for market timing.
• Cap rate 64.4% vs local median 10.2% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 38 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $1,218/mo this rent would consume 48% 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 $120 of loan paydown is wiped out by about $522 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $16,355 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1943 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.00% ✓
• Cap rate: 64.37%
• Cash-on-cash: 207.42%
• DSCR: 10.23
• GRM: 1.2

CMA / ARV

• ARV (median comp): $50,357
• List price: $17,400
• Delta: -65.45%
• 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
8309 Brace St	0.05mi	3/1.5	864 (-0%)	1mo	$28,500	$33	94
8686 Artesian St	0.23mi	3/1.0	864 (-0%)	2mo	$35,000	$41	88
8630 Greenview Ave	0.14mi	3/1.0	924 (+7%)	3mo	$50,000	$54	80
7756 Westwood St	0.52mi	3/1.0	871 (+1%)	2mo	$90,000	$103	73
8225 Grandville Ave	0.36mi	2/1.0 (-1)	906 (+5%)	2mo	$36,500	$40	69
8651 Brace Street St	0.16mi	3/1.0	987 (+14%)	2mo	$60,000	$61	68
7667 Greenview Ave	0.45mi	3/1.0	960 (+11%)	2mo	$65,100	$68	59
8084 Evergreen Ave	0.65mi	3/1.0	909 (+5%)	3mo	$77,000	$85	59
9221 Grandville Ave	0.62mi	3/1.0	971 (+12%)	2mo	$135,000	$139	49
7313 Grandville Ave	0.74mi	2/1.0 (-1)	765 (-12%)	0mo	$70,000	$92	41
9317 Artesian St	0.64mi	2/1.0 (-1)	994 (+15%)	1mo	$25,000	$25	40
7320 Westwood St	0.75mi	3/1.0	738 (-15%)	2mo	$115,000	$156	38

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: —
• Equity multiple: 10.70×
• Total profit: $47,265
• Equity at exit: $2,594

10-year hold

• IRR: —
• Equity multiple: 20.81×
• Total profit: $96,500
• Equity at exit: $1,504

Cash invested: $4,872 (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: 1.2×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$91
• Tax est. 1.5%: −$22 /mo · $261/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $842

Break-even live

Break-even rent $152

Max offer price $17,400

Occupancy floor 26%

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: $4,350
• Closing costs: $522
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	43d	1	0.22mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	0.24mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	17d	1	0.39mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.43mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	43d	1	0.48mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	0.64mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	0.73mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.76mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	0.78mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	0.80mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	43d	1	0.87mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	0.91mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	12d	1	1.00mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	16d	1	1.05mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	1.10mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.19mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.19mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.20mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	43d	1	1.20mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.20mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.20mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.20mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.21mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.21mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	15d	1	1.21mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.22mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.24mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.25mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	43d	1	1.25mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.33mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	1.36mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.40mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	1.40mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.41mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.41mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.42mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.42mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	43d	1	1.47mi

Listing history 4 events

1. 2026-04-25
   price $17,400 596-char remark

   Show marketing remark (596 chars)

   Solid investment opportunity in Warrendale - just outside of Dearborn & Dearborn Heights! This 3-bedroom, 1-bath ranch at offers a practical single-level layout that appeals to many types of buyers seeking convenience and functionality. The home features three well-sized bedrooms, a spacious living area, a full basement, and 1 car garage. The basement provides ample storage and potential for additional finished space. Once rehabbed, the property presents strong potential for cash flow, long-term appreciation, and is well-positioned for steady rental demand. Make an appointment today!

2. 2026-04-24
   price $17,400 596-char remark

   Show marketing remark (596 chars)

   Solid investment opportunity in Warrendale - just outside of Dearborn & Dearborn Heights! This 3-bedroom, 1-bath ranch at offers a practical single-level layout that appeals to many types of buyers seeking convenience and functionality. The home features three well-sized bedrooms, a spacious living area, a full basement, and 1 car garage. The basement provides ample storage and potential for additional finished space. Once rehabbed, the property presents strong potential for cash flow, long-term appreciation, and is well-positioned for steady rental demand. Make an appointment today!

3. 2026-03-02
   listed $19,900 Active 596-char remark

   Show marketing remark (596 chars)

   Solid investment opportunity in Warrendale - just outside of Dearborn & Dearborn Heights! This 3-bedroom, 1-bath ranch at offers a practical single-level layout that appeals to many types of buyers seeking convenience and functionality. The home features three well-sized bedrooms, a spacious living area, a full basement, and 1 car garage. The basement provides ample storage and potential for additional finished space. Once rehabbed, the property presents strong potential for cash flow, long-term appreciation, and is well-positioned for steady rental demand. Make an appointment today!

4. 2026-03-02
   listed $19,900 Active 596-char remark

   Show marketing remark (596 chars)

   Solid investment opportunity in Warrendale - just outside of Dearborn & Dearborn Heights! This 3-bedroom, 1-bath ranch at offers a practical single-level layout that appeals to many types of buyers seeking convenience and functionality. The home features three well-sized bedrooms, a spacious living area, a full basement, and 1 car garage. The basement provides ample storage and potential for additional finished space. Once rehabbed, the property presents strong potential for cash flow, long-term appreciation, and is well-positioned for steady rental demand. Make an appointment today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 84% 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: $14,619
• − Mortgage interest: −$975
• − Property taxes: −$261
• − Insurance: −$87
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$506
• Taxable income: $10,451
• Est. tax owed @ 24.0%: −$2,508
• After-tax cash flow: $7,597/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

-12.6% since first listed

4 events — show timeline

• 2026-04-25 Price Changed $17,400 MiRealSource-MiMLS
• 2026-04-24 Price Changed $17,400 REALCOMP
• 2026-03-02 Listed $19,900 REALCOMP
• 2026-03-02 Listed $19,900 MiRealSource-MiMLS

Property tax history

+8.0%/yr

Latest (2025): $2,632 · +106.1% YoY. Source: county tax records.