10738 Mckinney St · Detroit, MI 48224

$124,900

3 bd · 1.0 ba · 993 sqft · SingleFamily public records · 103 Days on market

Built 1952 4,356 sqft lot ↓ 7% 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 36% 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 $864 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 103 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 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 1952 — 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: 1.06% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $63,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10830 Mckinney St	0.05mi	3/1.0	1,066 (+7%)	1mo	$40,199	$38	84
10319 Mckinney St	0.25mi	4/1.0 (+1)	990 (-0%)	1mo	$25,000	$25	82
11545 Roxbury St	0.39mi	3/1.0	1,003 (+1%)	1mo	$65,000	$65	80
11017 Worden St	0.39mi	3/1.0	961 (-3%)	0mo	$47,500	$49	76
10945 Peerless St	0.42mi	3/1.0	964 (-3%)	2mo	$54,000	$56	74
20244 Mccormick St	0.63mi	3/1.0	1,000 (+1%)	1mo	$75,000	$75	68
11640 Somerset Ave	0.52mi	3/2.0	1,028 (+4%)	0mo	$70,000	$68	66
6106 Oldtown St	0.59mi	3/1.5	961 (-3%)	1mo	$132,000	$137	64
20300 Mccormick St	0.65mi	3/1.0	940 (-5%)	1mo	$60,000	$64	60
9369 Sanilac St	0.39mi	3/1.0	1,124 (+13%)	1mo	$65,000	$58	59
12056 Duchess St	0.74mi	3/1.0	950 (-4%)	3mo	$30,000	$32	56
9771 Mckinney St	0.55mi	4/1.0 (+1)	1,112 (+12%)	2mo	$100,000	$90	47

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: -9.0%
• Equity multiple: 0.68×
• Total profit: $-11,262
• Equity at exit: $18,623

10-year hold

• IRR: -2.8%
• Equity multiple: 0.83×
• Total profit: $-6,007
• Equity at exit: $10,799

Cash invested: $34,972 (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: 484
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$655
• Tax from tax record: −$155 /mo · $1,864/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $187

Break-even live

Break-even rent $1,092

Max offer price $124,900

Occupancy floor 81%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	0.05mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.06mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.07mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	0.19mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.26mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.37mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.39mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	0.42mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	4d	1	0.43mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.44mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.45mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	43d	1	0.49mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.49mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	2d	1	0.56mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	0.60mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	17d	1	0.61mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	0.62mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.63mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	0.64mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	43d	1	0.65mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	43d	1	0.66mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	17d	1	0.68mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	0.72mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	14d	1	0.73mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	43d	1	0.74mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	43d	1	0.74mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.75mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.76mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	12d	1	0.76mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	0.78mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.81mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	16d	1	0.83mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.89mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	43d	1	0.91mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	0.92mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.94mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	14d	1	0.95mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.96mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	0.97mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	1.07mi

Listing history 10 events

1. 2024-12-17
   status Pending 794-char remark

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

2. 2024-06-11
   soldstatus $124,900
3. 2024-04-15
   status Pending 794-char remark

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

4. 2024-04-15
   status Pending

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

5. 2024-04-14
   historical 794-char remark

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

6. 2024-01-19
   price $124,900 794-char remark

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

7. 2024-01-18
   price $124,900
8. 2024-01-03
   listed $134,900 Active 794-char remark

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

9. 2024-01-03
   listed $134,900 Active

   Show marketing remark (794 chars)

   Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

10. 2024-01-03
    listed $124,900 794-char remark

    Show marketing remark (794 chars)

    Welcome to 10738 McKinney!! This charming single-family residence features 3 cozy bedrooms and 1.5 updated bathrooms. From the moment you step inside, you'll be impressed with the newly refinished hardwood floors that span the main level, and the brand new carpet in the upstairs primary retreat. The main bathroom has been thoughtfully renovated with modern touches, while the remodeled kitchen boasts stunning granite countertops and a newly tiled floor. Rest assured knowing this home is outfitted with new plumbing and electrical systems, offering peace of mind for years to come. Enjoy additional living space in the open basement, complete with a convenient half bath. Outside, you'll appreciate the new roof and siding on the spacious 2-car garage, which also features a new door opener.

ⓘ 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: $1,864 · $155/mo
• Projected year-2 tax: $1,894 · $158/mo
• Expected delta: +$30/yr (+$2/mo · 1.6%)

ⓘ 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 ≥95°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: $15,943
• − Mortgage interest: −$6,996
• − Property taxes: −$1,864
• − Insurance: −$624
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$3,633
• Taxable income: $274
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $2,181/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

-7.4% since first listed

10 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-06-11 Sold (Public Records) $124,900 Public Records
• 2024-04-15 Pending — REALCOMP
• 2024-04-15 Pending — SW Michigan MLS
• 2024-04-14 Listing Removed — MiRealSource-MiMLS
• 2024-01-19 Price Changed $124,900 REALCOMP
• 2024-01-18 Price Changed $124,900 SW Michigan MLS
• 2024-01-03 Listed $124,900 MiRealSource-MiMLS
• 2024-01-03 Listed $134,900 SW Michigan MLS
• 2024-01-03 Listed $134,900 REALCOMP

Property tax history

-0.3%/yr

Latest (2025): $1,864 · +47.5% YoY. Source: county tax records.