8687 Farmbrook St · Detroit, MI 48224

$79,000

3 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 6 Days on market

Built 1945 6,098 sqft lot Est $69k · 14% over ↓ 41% since listing

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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
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Eastside brick bungalow on corner lot with large fenced yard, Refinished hardwood floors throughout, newer kitchen cabinets, newer windows, and architectural shingles. This home is great for both investors looking for a rental to add to their portfolio or homeowners looking for their new home at an affordable price. Schedule your tour today!

Key facts

• Fenced yard
• Newer windows
• Corner lot

Tags

• CORNER LOT
• FENCED YARD
• REFINISHED HARDWOOD FLOORS
• NEWER KITCHEN CABINETS
• NEWER WINDOWS
• ARCHITECTURAL SHINGLES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One and one-half levels; Brick construction; Entry on ground level with steps
• Construction: Brick exterior; Brick/mortar foundation; Asphalt roof; Below-grade finished area present
• Exterior features: Paved road access; Lot approximately 0.14 acres (35 x 170); No pool

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Ground-level entry with steps; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).

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: 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.
• Zoned schools: Marquette Elementarymiddle School (514 students, 94% FRL); East English Village Preparatory Academy At Finney (math 10% / reading 10%, grade F, #659 of 713 statewide, top 97%, 697 students, 85% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents flat; 495 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 37% of the median local income ($45k/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 $546 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 + 0.7% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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 $63k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.74% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.81%
• DSCR: 1.84
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $69,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6135 Marseilles St	0.26mi	3/1.0	988 (-3%)	0mo	$55,000	$56	83
20244 Mccormick St	0.52mi	3/1.0	1,000 (-2%)	1mo	$75,000	$75	72
6156 Lodewyck St	0.23mi	3/1.0	900 (-12%)	1mo	$51,000	$57	69
9369 Sanilac St	0.32mi	3/1.0	1,124 (+10%)	1mo	$65,000	$58	67
20300 Mccormick St	0.47mi	3/1.0	940 (-8%)	1mo	$60,000	$64	65
11017 Worden St	0.58mi	3/1.0	961 (-6%)	0mo	$47,500	$49	63
6106 Oldtown St	0.54mi	3/1.5	961 (-6%)	1mo	$132,000	$137	63
21628 Newcastle Rd	0.58mi	3/1.0	1,079 (+6%)	0mo	$173,500	$161	62
11640 Somerset Ave	0.74mi	3/2.0	1,028 (+1%)	0mo	$70,000	$68	60
21345 Newcastle Rd	0.52mi	3/2.0	1,092 (+7%)	0mo	$153,500	$141	59
10830 Mckinney St	0.69mi	3/1.0	1,066 (+5%)	1mo	$40,199	$38	59
21211 Newcastle Rd	0.50mi	3/1.0	1,120 (+10%)	2mo	$135,000	$121	59

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.29×
• Total profit: $6,356
• Equity at exit: $11,779

10-year hold

• IRR: 14.4%
• Equity multiple: 2.02×
• Total profit: $22,518
• Equity at exit: $6,830

Cash invested: $22,120 (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 48224

• Rents YoY: 0.7%
• Active inventory: 495
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,372 high
• Mortgage (P&I): −$414
• Tax from tax record: −$290 /mo · $3,478/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $347

Break-even live

Break-even rent $933

Max offer price $79,000

Occupancy floor 70%

Sensitivity live

Price	-10% $391	-5% $369	+0% $347	+5% $324	+10% $302
Rent	-10% $238	-5% $293	+0% $347	+5% $401	+10% $455
Rate	-1.0pp $387	-0.5pp $367	base $347	+0.5pp $326	+1.0pp $305

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	46d	1	0.07mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	46d	1	0.08mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	15d	1	0.14mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	1d	1	0.14mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	46d	1	0.20mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	46d	1	0.20mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	5d	1	0.26mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	46d	1	0.29mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	20d	1	0.30mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	46d	1	0.34mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	27d	1	0.36mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	27d	1	0.39mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	46d	1	0.40mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	27d	1	0.43mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	20d	1	0.44mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	0d	1	0.47mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	20d	1	0.47mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	17d	1	0.47mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	19d	1	0.48mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	20d	1	0.49mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	7d	1	0.53mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	15d	1	0.62mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	20d	1	0.65mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	46d	1	0.65mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	6d	1	0.65mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	46d	1	0.65mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	46d	1	0.68mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	2d	1	0.74mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,195	$1.60	0d	1	0.74mi
5233 Farmbrook St Detroit, MI	3.0	1.0	1449	$1,250	$0.86	1d	1	0.74mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	46d	1	0.75mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	0.77mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	20d	1	0.77mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	5d	1	0.77mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	20d	1	0.78mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	5d	1	0.78mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	46d	1	0.85mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	46d	1	0.87mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	27d	1	0.92mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	46d	1	0.95mi

Listing history 5 events

1. 2026-06-22
   days on market $79,000 Active 6 DOM
2. 2026-06-21
   days on market $79,000 Active 5 DOM
3. 2026-06-18
   days on market $79,000 Active 2 DOM
4. 2026-06-17
   remarks 343-char remark
5. 2026-06-17
   listed $79,000 Active 1 DOM

ⓘ 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: $3,478 · $290/mo
• Projected year-2 tax: $3,478 · $290/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,462
• − Mortgage interest: −$4,425
• − Property taxes: −$3,478
• − Insurance: −$395
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$2,298
• Taxable income: $3,232
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $3,385/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-41.5% since first listed

15 events — show timeline

• 2026-06-16 Listed $79,000 REALCOMP
• 2026-06-16 Listed $79,000 MiRealSource-MiMLS
• 2019-02-08 Sold (Public Records) $63,050 Public Records
• 2018-09-20 Sold (Public Records) $402,544 Public Records
• 2010-10-21 Sold (MLS) $14,900 MiRealSource-MiMLS
• 2010-10-21 Sold (MLS) $14,900 REALCOMP
• 2010-10-08 Listing Removed — MiRealSource-MiMLS
• 2010-08-12 Listed $14,900 MiRealSource-MiMLS
• 2010-08-12 Listed $14,900 REALCOMP
• 2009-08-04 Listing Removed — REALCOMP
• 2009-08-04 Listing Removed — MiRealSource-MiMLS
• 2009-04-27 Listed $32,500 REALCOMP
• 2009-04-27 Listed $32,500 MiRealSource-MiMLS
• 2007-03-06 Listing Removed — REALCOMP
• 2006-09-05 Listed $135,000 REALCOMP

Property tax history

+7.1%/yr

Latest (2025): $3,478 · +0.7% YoY. Source: county tax records.