10449 Sterritt St · Detroit, MI 48213

$24,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 16 Days on market

Built 1925 3,920 sqft lot $22/sqft · 24% below area Est $32k · 24% under ↓ 14% 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 +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors and rehabbers! This 3-bedroom, 1-bath bungalow located at 10449 Sterritt offers strong upside potential in one of Detroit's Federal Opportunity Zones. Property features a classic bungalow layout with spacious living areas and an upper-level dormer that adds additional usable space. Perfect for a fix-and-flip, rental portfolio addition, or long-term investment strategy. Conveniently located near major roads, shopping, schools, and local amenities. Bring your vision and unlock the potential this investor special has to offer. Property sold as-is.

Key facts

• Bungalow layout
• Upper-level dormer
• Local amenities

Tags

• BUNGALOW LAYOUT
• UPPER-LEVEL DORMER
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation; Above-grade finished area listed (1,080 square feet)
• Exterior features: Paved road access; Lot approximately 0.09 acres (30 x 127.84)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 6 total rooms; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $833 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $24k (1.5% below list) — sets the bar for market timing.
• Cap rate 47.9% 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: 190 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,302/mo this rent would consume 46% of the median local household income ($34k/yr) (locally 1202% 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 $166 of loan paydown is wiped out by about $720 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 + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 5 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: property tax is 3.0% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,640 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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?
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: 5.42% ✓
• Cap rate: 47.93%
• Cash-on-cash: 148.70%
• DSCR: 7.62
• GRM: 1.5

CMA / ARV

• ARV (median comp): $31,740
• List price: $24,000
• Delta: -11.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8922 Armour St	0.27mi	4/1.0 (+1)	1,050 (-3%)	5mo	$25,000	$24	74
5832 Garland St	0.31mi	3/1.0	1,169 (+8%)	6mo	$29,900	$26	66
8953 Culver St	0.40mi	2/1.0 (-1)	1,046 (-3%)	9mo	$26,000	$25	64
9354 Bessemore St	0.53mi	3/1.0	1,125 (+4%)	16mo	$23,000	$20	55
5270 Montclair St	0.64mi	3/1.0	1,112 (+3%)	18mo	$55,000	$49	50
5833 Mcclellan St	0.60mi	3/2.0	1,113 (+3%)	19mo	$32,000	$29	47
9136 Holcomb St	0.69mi	3/1.0	1,046 (-3%)	22mo	$42,500	$41	45
6130 Beniteau St	0.48mi	3/1.0	1,238 (+15%)	13mo	$47,500	$38	43
5398 Cooper St	0.72mi	3/1.0	998 (-8%)	18mo	$67,500	$68	39
8903 May St	0.52mi	2/1.0 (-1)	920 (-15%)	14mo	$8,000	$9	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.32×
• Total profit: $49,184
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 17.56×
• Total profit: $111,273
• Equity at exit: $2,075

Cash invested: $6,720 (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 48213

• Active inventory: 190
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$126
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $833

Break-even live

Break-even rent $248

Max offer price $24,000

Occupancy floor 31%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	0.55mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	0.59mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.79mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	0.90mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	0.96mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	1.00mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	1.00mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	1.00mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	1.01mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	1.03mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.15mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	1d	1	1.25mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	1d	1	1.25mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	1.27mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	1.34mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.35mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	1.42mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	1.44mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.44mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	43d	1	1.45mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	1.45mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	1.46mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	1.50mi

Listing history 14 events

1. 2026-06-18
   days on market $24,000 Active 16 DOM
2. 2026-06-17
   days on market $24,000 Active 15 DOM
3. 2026-06-15
   days on market $24,000 Active 13 DOM
4. 2026-06-13
   days on market $24,000 Active 11 DOM
5. 2026-06-13
   days on market $24,000 Active 10 DOM
6. 2026-06-09
   days on market $24,000 Active 7 DOM
7. 2026-06-08
   days on market $24,000 Active 6 DOM
8. 2026-06-07
   days on market $24,000 Active 5 DOM
9. 2026-06-04
   days on market $24,000 Active 2 DOM
10. 2026-06-02
    pricedays on marketlisting id $24,000 Active 1 DOM

    Show marketing remark (582 chars)

    Great opportunity for investors and rehabbers! This 3-bedroom, 1-bath bungalow located at 10449 Sterritt offers strong upside potential in one of Detroit's Federal Opportunity Zones. Property features a classic bungalow layout with spacious living areas and an upper-level dormer that adds additional usable space. Perfect for a fix-and-flip, rental portfolio addition, or long-term investment strategy. Conveniently located near major roads, shopping, schools, and local amenities. Bring your vision and unlock the potential this investor special has to offer. Property sold as-is.

11. 2026-06-01
    days on market $28,000 Active 23 DOM
12. 2026-05-31
    days on market $28,000 Active 22 DOM
13. 2026-05-08
    listed $28,000 Active 588-char remark
14. 2026-05-08
    listed $28,000 Active 582-char remark

ⓘ 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: $719 · $60/mo
• Projected year-2 tax: $719 · $60/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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,622
• − Mortgage interest: −$1,344
• − Property taxes: −$719
• − Insurance: −$120
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$698
• Taxable income: $10,241
• Est. tax owed @ 24.0%: −$2,458
• After-tax cash flow: $7,534/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 1%

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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

-14.3% since first listed

8 events — show timeline

• 2026-06-02 Listing Removed — MiRealSource-MiMLS
• 2026-06-02 Listing Removed — REALCOMP
• 2026-06-02 Listed $24,000 MiRealSource-MiMLS
• 2026-06-02 Listed $24,000 REALCOMP
• 2026-05-29 Relisted — REALCOMP
• 2026-05-28 Listing Removed — REALCOMP
• 2026-05-08 Listed $28,000 MiRealSource-MiMLS
• 2026-05-08 Listed $28,000 REALCOMP

Property tax history

+10.3%/yr

Latest (2025): $719 · +2.5% YoY. Source: county tax records.