7763 Memorial Ave · Detroit, MI 48228

$134,900

7 bd · 1.0 ba · 1,150 sqft · SingleFamily public records · 52 Days on market

Built 1948 5,663 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• 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

GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

Key facts

• Vinyl windows
• Natural fireplace
• Bungalow

Tags

• BUNGALOW
• NATURAL FIREPLACE
• VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 7-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% 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); 363 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,683/mo this rent would consume 66% 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 $933 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 52 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 31y 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 $94k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.25% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.62%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,462
• Equity at exit: $20,114

10-year hold

• IRR: 5.1%
• Equity multiple: 1.33×
• Total profit: $12,353
• Equity at exit: $11,664

Cash invested: $37,772 (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: 363
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $397

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 71%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2024-12-17
   status Pending 189-char remark

   Show marketing remark (189 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

2. 2024-12-12
   status Pending 189-char remark

   Show marketing remark (188 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

3. 2024-12-12
   status Pending 188-char remark

   Show marketing remark (188 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

4. 2024-12-12
   status Pending

   Show marketing remark (188 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

5. 2024-10-21
   listed $134,900 Active 189-char remark

   Show marketing remark (188 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

6. 2024-10-21
   listed $134,900 Active 188-char remark

   Show marketing remark (188 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

7. 2024-10-21
   listed $134,900 Active

   Show marketing remark (188 chars)

   GREAT PRICE ON THIS 4 BEDROOM BUNGALOW AND ONE BEDROOM IN THE BASEMENT, IN THE WARRENDALE AREA. NATURAL FIREPLACE IN LIVING ROOM, FAMILY ROOM WITH 2.5 BATH AND VINYL WINDOWS PRICED TO SELL

8. 2021-03-24
   historical
9. 2021-03-24
   historical
10. 2020-12-17
    listed $65,000 Active
11. 2020-12-17
    listed $65,000 Active
12. 2020-12-10
    historical
13. 2020-12-10
    historical
14. 2020-09-09
    listed $65,000 Active
15. 2020-09-09
    listed $65,000 Active
16. 2006-08-03
    historical
17. 2006-08-03
    historical
18. 2006-06-06
    listed $49,900
19. 2006-06-06
    listed $49,900
20. 2006-06-05
    historical
21. 2006-05-23
    listed $64,900
22. 2003-12-05
    soldstatus $94,000
23. 2003-02-07
    historical
24. 2002-11-07
    listed $97,500
25. 1996-10-28
    soldstatus $28,865
26. 1996-10-08
    soldstatus $28,865
27. 1995-11-16
    listed $28,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 14 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: $20,196
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$3,924
• Taxable income: $2,786
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $4,099/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

+381.8% since first listed

27 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-12-12 Pending — REALCOMP
• 2024-12-12 Pending — MiRealSource-MiMLS
• 2024-12-12 Pending — SW Michigan MLS
• 2024-10-21 Listed $134,900 SW Michigan MLS
• 2024-10-21 Listed $134,900 MiRealSource-MiMLS
• 2024-10-21 Listed $134,900 REALCOMP
• 2021-03-24 Listing Removed — REALCOMP
• 2021-03-24 Listing Removed — MiRealSource-MiMLS
• 2020-12-17 Listed $65,000 MiRealSource-MiMLS
• 2020-12-17 Listed $65,000 REALCOMP
• 2020-12-10 Listing Removed — MiRealSource-MiMLS
• 2020-12-10 Listing Removed — REALCOMP
• 2020-09-09 Listed $65,000 MiRealSource-MiMLS
• 2020-09-09 Listed $65,000 REALCOMP
• 2006-08-03 Listing Removed — REALCOMP
• 2006-08-03 Listing Removed — MiRealSource-MiMLS
• 2006-06-06 Listed $49,900 REALCOMP
• 2006-06-06 Listed $49,900 MiRealSource-MiMLS
• 2006-06-05 Listing Removed — REALCOMP
• 2006-05-23 Listed $64,900 REALCOMP
• 2003-12-05 Sold (Public Records) $94,000 Public Records
• 2003-02-07 Listing Removed — REALCOMP
• 2002-11-07 Listed $97,500 REALCOMP
• 1996-10-28 Sold (Public Records) $28,865 Public Records
• 1996-10-08 Sold (MLS) $28,865 REALCOMP
• 1995-11-16 Listed $28,000 REALCOMP

Property tax history

-7.9%/yr

Latest (2025): $130 · -96.3% YoY. Source: county tax records.