1483 S Annabelle St · Detroit, MI 48217

$85,000

3 bd · 1.0 ba · 744 sqft · SingleFamily public records · 67 Days on market

Built 1951 5,227 sqft lot $114/sqft · 38% above area Est $62k · 38% over

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.9/10.0
• Appreciation +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to this home located in the city of Detroit. This lovely home 2 bedrooms and 1 bath, providing ample space for your family's needs. The property features newer windows and doors, offering improved energy efficiency and a fresh aesthetic. Inside, you'll find an updated bathroom and kitchen, adding a modern touch to the home's overall appeal. Don't miss out on the opportunity to own this beautifully updated property in a convenient location. * * * PROPERTY IS RENTED !!!DO NOT DISTURB THE TENANTS

Key facts

• Newer windows
• Updated kitchen
• Convenient location

Tags

• NEWER WINDOWS
• UPDATED BATHROOM
• UPDATED KITCHEN
• CONVENIENT LOCATION

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 $207 ($2k/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: $80k (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: 24 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $680 of equity ($588 loan paydown + $92 appreciation (0.1% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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: flood insurance adds $56/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.29% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.22%
• DSCR: 1.59
• GRM: 6.4

CMA / ARV

• ARV (median comp): $61,554
• List price: $85,000
• Delta: 38.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1512 S Annabelle St	0.04mi	3/1.5	744 (0%)	22mo	$43,500	$58	78
1436 S Deacon St	0.09mi	2/1.0 (-1)	759 (+2%)	18mo	$45,000	$59	72
1688 S Ethel St	0.19mi	3/1.0	849 (+14%)	10mo	$78,000	$92	59
1680 S Ethel St	0.19mi	3/1.5	849 (+14%)	11mo	$35,500	$42	56
151 Dwight St	0.63mi	2/1.0 (-1)	738 (-1%)	14mo	$40,000	$54	53
1555 S Bassett St	0.24mi	3/1.5	826 (+11%)	19mo	$73,500	$89	53
2241 S Beatrice St	0.52mi	2/1.0 (-1)	786 (+6%)	13mo	$70,000	$89	50
150 Division St	0.69mi	2/1.0 (-1)	792 (+6%)	9mo	$59,800	$76	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.47×
• Total profit: $11,174
• Equity at exit: $25,143

10-year hold

• IRR: 14.6%
• Equity multiple: 2.62×
• Total profit: $38,578
• Equity at exit: $30,594

Cash invested: $23,800 (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 48217

• Home prices YoY: 0.0%
• Active inventory: 24
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$125 /mo · $1,498/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $207

Break-even live

Break-even rent $837

Max offer price $85,000

Occupancy floor 76%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	16d	1	1.05mi

Listing history 12 events

1. 2026-06-01
   days on market $85,000 Active 67 DOM
2. 2026-05-31
   days on market $85,000 Active 66 DOM
3. 2026-03-26
   listed $85,000 Active 509-char remark

   Show marketing remark (509 chars)

   Welcome to this home located in the city of Detroit. This lovely home 2 bedrooms and 1 bath, providing ample space for your family's needs. The property features newer windows and doors, offering improved energy efficiency and a fresh aesthetic. Inside, you'll find an updated bathroom and kitchen, adding a modern touch to the home's overall appeal. Don't miss out on the opportunity to own this beautifully updated property in a convenient location. * * * PROPERTY IS RENTED !!!DO NOT DISTURB THE TENANTS

4. 2026-03-26
   listed $85,000 Active 509-char remark

   Show marketing remark (509 chars)

   Welcome to this home located in the city of Detroit. This lovely home 2 bedrooms and 1 bath, providing ample space for your family's needs. The property features newer windows and doors, offering improved energy efficiency and a fresh aesthetic. Inside, you'll find an updated bathroom and kitchen, adding a modern touch to the home's overall appeal. Don't miss out on the opportunity to own this beautifully updated property in a convenient location. * * * PROPERTY IS RENTED !!!DO NOT DISTURB THE TENANTS

5. 2026-03-13
   historical
6. 2026-03-13
   historical
7. 2025-10-16
   price $90,000
8. 2025-10-16
   price $90,000
9. 2025-09-12
   listed $100,000 Active
10. 2025-09-12
    listed $100,000 Active
11. 2024-05-03
    soldstatus $98,890
12. 2020-02-19
    soldstatus $59,900

ⓘ 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: $1,498 · $125/mo
• Projected year-2 tax: $1,498 · $125/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,188
• − Mortgage interest: −$4,761
• − Property taxes: −$1,498
• − Insurance: −$1,092
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,473
• Taxable income: $1,255
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $2,179/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
• City population: 572,865
• Population (ZIP): 6,437

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 (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 12% Two or more races 10% White 4%
• Hispanic origin (detail): Mexican 5% Dominican 4%
• Common ancestry: Lithuanian 6% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▲ 0.11%
• Current HPI: 366.479
• Rent YoY: —
• Metro: —
• 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

+41.9% since first listed

10 events — show timeline

• 2026-03-26 Listed $85,000 REALCOMP
• 2026-03-26 Listed $85,000 MiRealSource-MiMLS
• 2026-03-13 Listing Removed — MiRealSource-MiMLS
• 2026-03-13 Listing Removed — REALCOMP
• 2025-10-16 Price Changed $90,000 MiRealSource-MiMLS
• 2025-10-16 Price Changed $90,000 REALCOMP
• 2025-09-12 Listed $100,000 MiRealSource-MiMLS
• 2025-09-12 Listed $100,000 REALCOMP
• 2024-05-03 Sold (Public Records) $98,890 Public Records
• 2020-02-19 Sold (Public Records) $59,900 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,498 · +109.5% YoY. Source: county tax records.