8643 Greenview Ave · Detroit, MI 48228

$57,000

3 bd · 1.0 ba · 768 sqft · SingleFamily public records · 96 Days on market

Built 1942 3,920 sqft lot $74/sqft · 49% above area Est $50k · 13% 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 +30.0/30.0
• 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
• ARV discount +1.6/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

Key facts

• 3,920 sq ft lot
• Built 1942
• Listed 95 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Recommended offer: $52k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $394 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 $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 29y ago; this cycle's ask has dropped $19k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,870 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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 1942 — 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: 2.14% ✓
• Cap rate: 17.11%
• Cash-on-cash: 38.64%
• DSCR: 2.72
• GRM: 3.9

CMA / ARV

• ARV (median comp): $50,357
• List price: $57,000
• Delta: 13.19%
• 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
8686 Artesian St	0.16mi	3/1.0	864 (+12%)	2mo	$35,000	$41	70
8900 Artesian St	0.24mi	2/1.0 (-1)	746 (-3%)	10mo	$35,000	$47	70
8309 Brace St	0.20mi	3/1.5	864 (+12%)	1mo	$28,500	$33	67
9109 Stahelin Ave	0.34mi	2/1.0 (-1)	836 (+9%)	3mo	$25,000	$30	62
9046 Grandville Ave	0.43mi	2/1.0 (-1)	787 (+2%)	11mo	$72,000	$91	62
8068 Stahelin Ave	0.36mi	2/1.0 (-1)	807 (+5%)	10mo	$35,000	$43	61
8612 Rosemont Ave	0.22mi	3/1.0	870 (+13%)	10mo	$18,000	$21	59
8062 Grandville Ave	0.49mi	2/1.0 (-1)	732 (-5%)	6mo	$60,000	$82	59
8257 Minock St	0.55mi	2/1.0 (-1)	737 (-4%)	8mo	$32,000	$43	56
7800 Greenview Ave	0.47mi	3/1.0	850 (+11%)	12mo	$90,000	$106	51
7756 Westwood St	0.65mi	3/1.0	871 (+13%)	2mo	$90,000	$103	46
7375 Brace St	0.74mi	3/1.0	711 (-7%)	10mo	$18,500	$26	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: 31.2%
• Equity multiple: 2.25×
• Total profit: $19,974
• Equity at exit: $8,499

10-year hold

• IRR: 36.5%
• Equity multiple: 3.88×
• Total profit: $45,949
• Equity at exit: $4,928

Cash invested: $15,960 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$299
• Tax from tax record: −$126 /mo · $1,512/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $514

Break-even live

Break-even rent $568

Max offer price $57,000

Occupancy floor 53%

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	0.24mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	17d	1	0.25mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	43d	1	0.28mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	4d	1	0.34mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.36mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	4d	1	0.50mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	0.57mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	43d	1	0.70mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	4d	1	0.77mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.86mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	0.94mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	0.99mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.08mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.08mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.09mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.09mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.09mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.09mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.09mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.10mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.11mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	12d	1	1.12mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.13mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.14mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	1.16mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	43d	1	1.19mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	1.20mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	43d	1	1.23mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.25mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	16d	1	1.26mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	1.28mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.31mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	14d	1	1.32mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.32mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.32mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.33mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.33mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	43d	1	1.43mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	16d	1	1.44mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	43d	1	1.46mi

Listing history 39 events

1. 2026-04-27
   status Active 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

2. 2026-04-27
   status Active 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

3. 2026-03-13
   historical 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

4. 2026-03-06
   price $57,000 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

5. 2026-03-05
   price $57,000 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

6. 2026-02-17
   status Active 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

7. 2026-02-17
   status Active 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

8. 2026-02-07
   historical 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

9. 2025-12-15
   price $65,000 117-char remark

   Show marketing remark (117 chars)

   Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

10. 2025-12-14
    price $65,000 117-char remark

    Show marketing remark (117 chars)

    Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

11. 2025-12-05
    listed $76,000 Active 117-char remark

    Show marketing remark (117 chars)

    Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

12. 2025-12-04
    listed $76,000 Active 117-char remark

    Show marketing remark (117 chars)

    Nice 3 bedroom 1 bathroom bungalow in Franklin Park. The property has been recently updated. Home is being sold AS-IS

13. 2024-09-18
    historical
14. 2024-09-18
    historical
15. 2024-07-31
    listed $65,000 Active
16. 2024-07-31
    listed $65,000 Active
17. 2024-07-30
    historical
18. 2024-07-30
    historical
19. 2024-03-28
    status Pending
20. 2024-03-27
    status Pending
21. 2024-03-25
    historical
22. 2024-03-25
    historical
23. 2024-03-25
    historical
24. 2024-03-25
    historical
25. 2024-02-21
    listed $64,995 Active
26. 2024-02-21
    listed $64,995 Active
27. 2024-02-20
    historical
28. 2024-02-20
    historical
29. 2007-12-24
    historical
30. 2007-11-29
    historical
31. 2007-08-24
    listed $9,900
32. 2007-08-24
    listed $9,900
33. 2007-08-24
    listed $9,900
34. 2007-02-09
    historical
35. 2006-08-13
    listed $78,200
36. 2006-08-13
    listed $78,200
37. 1998-03-10
    soldstatus $45,500
38. 1998-01-22
    soldstatus $45,500
39. 1997-11-11
    listed $45,500

ⓘ 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: $1,512 · $126/mo
• Projected year-2 tax: $1,512 · $126/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 ≥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: $14,621
• − Mortgage interest: −$3,193
• − Property taxes: −$1,512
• − Insurance: −$285
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$1,658
• Taxable income: $5,633
• Est. tax owed @ 24.0%: −$1,352
• After-tax cash flow: $4,814/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

+25.3% since first listed

39 events — show timeline

• 2026-04-27 Relisted — MiRealSource-MiMLS
• 2026-04-27 Relisted — REALCOMP
• 2026-03-13 Listing Removed — MiRealSource-MiMLS
• 2026-03-06 Price Changed $57,000 MiRealSource-MiMLS
• 2026-03-05 Price Changed $57,000 REALCOMP
• 2026-02-17 Relisted — MiRealSource-MiMLS
• 2026-02-17 Relisted — REALCOMP
• 2026-02-07 Listing Removed — MiRealSource-MiMLS
• 2025-12-15 Price Changed $65,000 MiRealSource-MiMLS
• 2025-12-14 Price Changed $65,000 REALCOMP
• 2025-12-05 Listed $76,000 REALCOMP
• 2025-12-04 Listed $76,000 MiRealSource-MiMLS
• 2024-09-18 Listing Removed — MiRealSource-MiMLS
• 2024-09-18 Listing Removed — REALCOMP
• 2024-07-31 Listed $65,000 MiRealSource-MiMLS
• 2024-07-31 Listed $65,000 REALCOMP
• 2024-07-30 Coming Soon — REALCOMP
• 2024-07-30 Coming Soon — MiRealSource-MiMLS
• 2024-03-28 Pending — MiRealSource-MiMLS
• 2024-03-27 Pending — REALCOMP
• 2024-03-25 Listing Removed — MiRealSource-MiMLS
• 2024-03-25 Listing Removed — MiRealSource-MiMLS
• 2024-03-25 Listing Removed — REALCOMP
• 2024-03-25 Listing Removed — REALCOMP
• 2024-02-21 Listed $64,995 MiRealSource-MiMLS
• 2024-02-21 Listed $64,995 REALCOMP
• 2024-02-20 Coming Soon — MiRealSource-MiMLS
• 2024-02-20 Coming Soon — REALCOMP
• 2007-12-24 Listing Removed — MiRealSource-MiMLS
• 2007-11-29 Listing Removed — REALCOMP
• 2007-08-24 Listed $9,900 REALCOMP
• 2007-08-24 Listed $9,900 REALCOMP
• 2007-08-24 Listed $9,900 MiRealSource-MiMLS
• 2007-02-09 Listing Removed — MiRealSource-MiMLS
• 2006-08-13 Listed $78,200 REALCOMP
• 2006-08-13 Listed $78,200 MiRealSource-MiMLS
• 1998-03-10 Sold (Public Records) $45,500 Public Records
• 1998-01-22 Sold (MLS) $45,500 REALCOMP
• 1997-11-11 Listed $45,500 REALCOMP

Property tax history

+15.5%/yr

Latest (2025): $1,512 · +530.2% YoY. Source: county tax records.