6111 Faust Ave · Detroit, MI 48228

$119,000

3 bd · 1.0 ba · 907 sqft · SingleFamily public records · 68 Days on market

Built 1950 5,227 sqft lot $131/sqft · 28% above area

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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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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

COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

Key facts

• Large fenced yard
• 5,227 sq ft lot
• Built 1950

Tags

• LARGE FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $112k (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); 367 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,461/mo this rent would consume 57% 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 $823 of loan paydown is wiped out by about $4k 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 68 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 26 sale attempts since 27y 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 $11k; list at $119k implies a 982% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1950 — 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. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 6.8

CMA / ARV

• ARV (median comp): $74,558
• List price: $119,000
• Delta: 59.61%
• 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
6324 Rosemont Ave	0.25mi	3/1.0	960 (+6%)	1mo	$85,000	$89	78
6411 Greenview Ave	0.29mi	3/1.0	959 (+6%)	4mo	$117,000	$122	73
6506 Stahelin Ave	0.41mi	3/1.0	960 (+6%)	2mo	$70,000	$73	69
6760 Warwick St	0.57mi	3/1.0	960 (+6%)	2mo	$70,000	$73	62
6356 Rutland St	0.52mi	3/1.0	842 (-7%)	2mo	$90,000	$107	62
6409 Grandville Ave	0.52mi	3/1.5	960 (+6%)	3mo	$128,000	$133	62
6712 Artesian St	0.49mi	3/1.0	1,000 (+10%)	1mo	$97,500	$98	59
6719 Westwood St	0.67mi	3/1.0	960 (+6%)	1mo	$62,500	$65	58
6873 Piedmont street Piedmont St	0.70mi	3/1.0	973 (+7%)	4mo	$100,000	$103	51
6783 Westwood St	0.71mi	3/1.0	836 (-8%)	4mo	$65,000	$78	50
6417 Auburn St	0.69mi	3/1.0	1,000 (+10%)	4mo	$95,000	$95	48
6394 Westwood St	0.54mi	3/1.0	770 (-15%)	2mo	$90,000	$117	48

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,106
• Equity at exit: $17,743

10-year hold

• IRR: 7.4%
• Equity multiple: 1.48×
• Total profit: $16,147
• Equity at exit: $10,289

Cash invested: $33,320 (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: 367
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,461 high
• Mortgage (P&I): −$624
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $388

Break-even live

Break-even rent $971

Max offer price $119,000

Occupancy floor 68%

Sensitivity live

Price	-10% $455	-5% $421	+0% $388	+5% $354	+10% $320
Rent	-10% $272	-5% $330	+0% $388	+5% $445	+10% $503
Rate	-1.0pp $447	-0.5pp $418	base $388	+0.5pp $357	+1.0pp $325

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,530	$2.29	0d	7	0.19mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	18d	1	0.36mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,430	$2.09	0d	10	0.60mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	25d	1	0.69mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	6d	1	0.73mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	3d	1	1.16mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	45d	1	1.20mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	14d	1	1.26mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,100	$1.12	0d	1	1.30mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	1.34mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	6d	1	1.34mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	45d	1	1.46mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	19d	1	1.47mi

Listing history 50 events

1. 2026-06-04
   days on market $119,000 Active 68 DOM
2. 2026-06-03
   days on market $119,000 Active 67 DOM
3. 2026-06-02
   days on market $119,000 Active 66 DOM
4. 2026-06-01
   days on market $119,000 Active 65 DOM
5. 2026-05-31
   days on market $119,000 Active 64 DOM
6. 2026-05-04
   status Active 97-char remark

   Show marketing remark (97 chars)

   COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

7. 2026-05-04
   status Active 97-char remark

   Show marketing remark (97 chars)

   COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

8. 2026-03-29
   status Pending 97-char remark

   Show marketing remark (97 chars)

   COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

9. 2026-03-29
   status Pending 97-char remark

   Show marketing remark (97 chars)

   COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

10. 2026-02-19
    listed $119,000 Active 97-char remark

    Show marketing remark (97 chars)

    COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

11. 2026-02-19
    listed $119,000 Active 97-char remark

    Show marketing remark (97 chars)

    COZY THREE BEDROOM HOME WITH 1 FULL BATH. GREAT STARTER HOME OR AN INVESTMENT. LARGE FENCED YARD.

12. 2013-10-17
    historical
13. 2013-10-17
    historical
14. 2013-09-26
    listed $11,000
15. 2013-09-26
    listed $11,000
16. 2013-09-13
    historical
17. 2013-09-13
    historical
18. 2013-03-13
    listed $14,900
19. 2013-03-13
    listed $14,900
20. 2013-03-06
    historical
21. 2013-03-06
    historical
22. 2013-01-24
    listed $14,900
23. 2013-01-24
    listed $14,900
24. 2011-06-17
    historical
25. 2011-06-17
    historical
26. 2011-05-13
    listed $18,900
27. 2011-05-13
    listed $18,900
28. 2010-12-31
    historical
29. 2010-05-31
    listed $19,000
30. 2010-01-22
    soldstatus $11,000
31. 2009-11-03
    listed $12,000
32. 2009-10-22
    historical
33. 2009-10-16
    listed $7,900
34. 2008-10-01
    soldstatus $110,000
35. 2007-11-29
    soldstatus $15,000
36. 2007-11-29
    soldstatus $15,000
37. 2007-11-08
    historical
38. 2007-08-10
    listed $24,900
39. 2007-08-09
    listed $24,900
40. 2005-07-29
    soldstatus $110,000
41. 2004-08-13
    soldstatus $59,700
42. 2004-05-28
    listed $41,000
43. 2003-05-20
    historical
44. 2003-02-16
    listed $102,500
45. 2001-07-11
    soldstatus $90,000
46. 2001-03-07
    historical
47. 2001-02-08
    listed $79,900
48. 2001-02-07
    historical
49. 2001-01-08
    listed $79,900
50. 2000-12-31
    historical

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$356/yr (+$30/mo · 31.8%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,537
• − Mortgage interest: −$6,666
• − Property taxes: −$1,120
• − Insurance: −$595
• − Repairs & maintenance: −$1,403
• − Management: −$1,403
• − Depreciation: −$3,462
• Taxable income: $2,888
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $3,957/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

+271.9% since first listed

55 events — show timeline

• 2026-05-04 Relisted — MiRealSource-MiMLS
• 2026-05-04 Relisted — REALCOMP
• 2026-03-29 Pending — MiRealSource-MiMLS
• 2026-03-29 Pending — REALCOMP
• 2026-02-19 Listed $119,000 REALCOMP
• 2026-02-19 Listed $119,000 MiRealSource-MiMLS
• 2013-10-17 Listing Removed — MiRealSource-MiMLS
• 2013-10-17 Listing Removed — REALCOMP
• 2013-09-26 Listed $11,000 MiRealSource-MiMLS
• 2013-09-26 Listed $11,000 REALCOMP
• 2013-09-13 Listing Removed — REALCOMP
• 2013-09-13 Listing Removed — MiRealSource-MiMLS
• 2013-03-13 Listed $14,900 REALCOMP
• 2013-03-13 Listed $14,900 MiRealSource-MiMLS
• 2013-03-06 Listing Removed — MiRealSource-MiMLS
• 2013-03-06 Listing Removed — REALCOMP
• 2013-01-24 Listed $14,900 MiRealSource-MiMLS
• 2013-01-24 Listed $14,900 REALCOMP
• 2011-06-17 Listing Removed — REALCOMP
• 2011-06-17 Listing Removed — MiRealSource-MiMLS
• 2011-05-13 Listed $18,900 REALCOMP
• 2011-05-13 Listed $18,900 MiRealSource-MiMLS
• 2010-12-31 Listing Removed — REALCOMP
• 2010-05-31 Listed $19,000 REALCOMP
• 2010-01-22 Sold (MLS) $11,000 REALCOMP
• 2009-11-03 Listed $12,000 REALCOMP
• 2009-10-22 Listing Removed — REALCOMP
• 2009-10-16 Listed $7,900 REALCOMP
• 2008-10-01 Sold (Public Records) $110,000 Public Records
• 2007-11-29 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2007-11-29 Sold (MLS) $15,000 REALCOMP
• 2007-11-08 Listing Removed — MiRealSource-MiMLS
• 2007-08-10 Listed $24,900 REALCOMP
• 2007-08-09 Listed $24,900 MiRealSource-MiMLS
• 2005-07-29 Sold (Public Records) $110,000 Public Records
• 2004-08-13 Sold (MLS) $59,700 REALCOMP
• 2004-05-28 Listed $41,000 REALCOMP
• 2003-05-20 Listing Removed — REALCOMP
• 2003-02-16 Listed $102,500 REALCOMP
• 2001-07-11 Sold (Public Records) $90,000 Public Records
• 2001-03-07 Listing Removed — REALCOMP
• 2001-02-08 Listed $79,900 REALCOMP
• 2001-02-07 Listing Removed — REALCOMP
• 2001-01-08 Listed $79,900 REALCOMP
• 2000-12-31 Listing Removed — REALCOMP
• 2000-11-13 Listed $79,900 REALCOMP
• 2000-11-10 Listing Removed — REALCOMP
• 2000-09-11 Listed $81,900 REALCOMP
• 2000-02-21 Listing Removed — REALCOMP
• 2000-01-17 Listed $82,000 REALCOMP
• 1999-09-06 Listing Removed — REALCOMP
• 1999-07-28 Listing Removed — REALCOMP
• 1999-07-28 Listed $79,900 REALCOMP
• 1999-07-14 Listed $84,900 REALCOMP
• 1994-06-09 Sold (Public Records) $32,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,120 · -53.8% YoY. Source: county tax records.