7232 Dolphin · Detroit, MI 48239

$119,000

3 bd · 1.0 ba · 672 sqft · SingleFamily public records · 101 Days on market

Built 1949 4,356 sqft lot $177/sqft · 61% 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 3-bed bungalow perfect for someone wanting space without the hassle. 672 sq ft main level, 1 full bath, detached 2-car garage, fresh natural gas forced air. Sits on a 35x134 lot, Just East of Telegraph off Warren—easy access, no drama. B. A. T. V. A. I

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1949

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 $294 ($4k/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: $108k (9.0% 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 rising (+3.2%/yr); 188 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1949 — 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: 1.22% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.58%
• DSCR: 1.47
• GRM: 6.8

CMA / ARV

• ARV (median comp): $73,683
• List price: $119,000
• Delta: 61.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7660 Dacosta	0.36mi	2/1.0 (-1)	689 (+2%)	20mo	$80,000	$116	57
7695 Hazelton St	0.61mi	2/1.0 (-1)	720 (+7%)	13mo	$104,800	$146	44
7260 Pierson St	0.69mi	3/1.0	747 (+11%)	10mo	$102,000	$137	41

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-161
• Equity at exit: $17,743

10-year hold

• IRR: 9.8%
• Equity multiple: 1.77×
• Total profit: $25,627
• 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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,449 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $294

Break-even live

Break-even rent $1,077

Max offer price $119,000

Occupancy floor 75%

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	44d	1	0.10mi
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	3d	1	0.43mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	1.09mi

Listing history 16 events

1. 2026-06-18
   days on market $119,000 Active 101 DOM
2. 2026-06-17
   days on market $119,000 Active 100 DOM
3. 2026-06-15
   days on market $119,000 Active 98 DOM
4. 2026-06-13
   days on market $119,000 Active 96 DOM
5. 2026-06-13
   days on market $119,000 Active 95 DOM
6. 2026-06-09
   days on market $119,000 Active 92 DOM
7. 2026-06-08
   days on market $119,000 Active 91 DOM
8. 2026-06-07
   days on market $119,000 Active 90 DOM
9. 2026-06-04
   days on market $119,000 Active 87 DOM
10. 2026-06-03
    days on market $119,000 Active 86 DOM
11. 2026-06-01
    days on market $119,000 Active 84 DOM
12. 2026-05-31
    days on market $119,000 Active 83 DOM
13. 2026-03-09
    listed $119,000 Active 263-char remark

    Show marketing remark (259 chars)

    Cozy 3-bed bungalow perfect for someone wanting space without the hassle. 672 sq ft main level, 1 full bath, detached 2-car garage, fresh natural gas forced air. Sits on a 35x134 lot, Just East of Telegraph off Warren - easy access, no drama. B. A. T. V. A. I

14. 2026-03-09
    listed $119,000 Active 259-char remark

    Show marketing remark (259 chars)

    Cozy 3-bed bungalow perfect for someone wanting space without the hassle. 672 sq ft main level, 1 full bath, detached 2-car garage, fresh natural gas forced air. Sits on a 35x134 lot, Just East of Telegraph off Warren - easy access, no drama. B. A. T. V. A. I

15. 2024-01-25
    historical $1,500
16. 2023-12-20
    listed $1,500

ⓘ 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: $2,125 · $177/mo
• Projected year-2 tax: $2,125 · $177/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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,386
• − Mortgage interest: −$6,666
• − Property taxes: −$2,125
• − Insurance: −$595
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$3,462
• Taxable income: $1,757
• Est. tax owed @ 24.0%: −$422
• After-tax cash flow: $3,105/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): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+7833.3% since first listed

4 events — show timeline

• 2026-03-09 Listed $119,000 REALCOMP
• 2026-03-09 Listed $119,000 MiRealSource-MiMLS
• 2024-01-25 Rental Removed $1,500 REALSOURCE
• 2023-12-20 Listed for Rent $1,500 REALSOURCE

Property tax history

+4.8%/yr

Latest (2025): $2,125 · -56.5% YoY. Source: county tax records.