9631 Mckinney St · Detroit, MI 48224

$60,000

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 4 Days on market

Built 1927 3,920 sqft lot Est $106k · 43% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Nice, Affordable and Spacious 3BDRM Bungalow looking for new owner. Perfect for investors portfolio as well. Home is occupied. Do not disturb. Schedule your appointments for viewing. SOLD AS IS. BATVAI Owner will review all offers!

Key facts

• 3,920 sq ft lot
• Built 1927
• Listed 4 days

Property features AI

Exterior

• Utilities: Public water (at street); Public sewer (at street); Natural gas
• Home design: Residential property; 1 1/2-story design; Built in 1927
• Construction: Vinyl siding exterior; Basement foundation
• Exterior features: Paved street access; Frontage approximately 40 feet

Interior

• Kitchen: Kitchen on entry level (12 x 10)
• Bedrooms: Primary bedroom on second level (12 x 13); Bedroom on entry level (12 x 12); Bedroom on entry level (approx. 10' wide)
• Bathrooms: 1 full bathroom on entry level
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: 7 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 17.7% 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: 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 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 $415 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 30y 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 $1k; list at $60k implies a 5900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1927 — 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: 2.29% ✓
• Cap rate: 17.73%
• Cash-on-cash: 40.86%
• DSCR: 2.82
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $106,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10318 Beaconsfield St	0.20mi	3/1.5	1,146 (+0%)	1mo	$78,000	$68	87
9988 Somerset Ave	0.11mi	3/1.0	1,206 (+6%)	1mo	$130,000	$108	84
9722 Everts St	0.21mi	3/1.0	1,178 (+3%)	0mo	$147,000	$125	84
9500 Lakepointe St	0.49mi	3/1.0	1,130 (-1%)	0mo	$125,000	$111	75
9817 Somerset Ave	0.20mi	3/1.0	1,290 (+13%)	2mo	$30,000	$23	67
6230 Oldtown St	0.75mi	3/1.0	1,149 (+1%)	2mo	$76,000	$66	62
10830 Mckinney St	0.69mi	3/1.0	1,066 (-6%)	1mo	$40,199	$38	56
10319 Mckinney St	0.40mi	4/1.0 (+1)	990 (-13%)	1mo	$25,000	$25	54
10904 N Mogul St	0.69mi	3/1.0	1,045 (-8%)	0mo	$113,000	$108	54
5266 Devonshire Rd	0.66mi	3/1.0	1,274 (+12%)	1mo	$118,000	$93	49
5777 Lakepointe St	0.69mi	4/2.5 (+1)	1,075 (-6%)	2mo	$174,999	$163	46
9768 Manistique St	0.68mi	3/1.0	986 (-14%)	0mo	$35,000	$35	45

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: 34.6%
• Equity multiple: 2.41×
• Total profit: $23,721
• Equity at exit: $8,946

10-year hold

• IRR: 40.1%
• Equity multiple: 4.33×
• Total profit: $55,860
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$315
• Tax from tax record: −$175 /mo · $2,095/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $572

Break-even live

Break-even rent $651

Max offer price $60,000

Occupancy floor 53%

Sensitivity live

Price	-10% $606	-5% $589	+0% $572	+5% $555	+10% $538
Rent	-10% $463	-5% $518	+0% $572	+5% $626	+10% $681
Rate	-1.0pp $602	-0.5pp $587	base $572	+0.5pp $556	+1.0pp $541

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.21mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.24mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	0.26mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.27mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	0.27mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	0.33mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.34mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	0.40mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.41mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.43mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.47mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.51mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	0.52mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.54mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.54mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	18d	1	0.55mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.56mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.56mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	0.57mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.57mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.57mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	0.59mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.61mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.61mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.62mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.62mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.64mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.67mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.67mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.71mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	18d	1	0.72mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.73mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.74mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.75mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.80mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	0.82mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	18d	1	0.82mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.83mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	44d	1	0.84mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.85mi

Listing history 7 events

1. 2026-06-18
   days on market $60,000 Active 4 DOM
2. 2026-06-17
   days on market $60,000 Active 3 DOM
3. 2026-06-16
   days on market $60,000 Active 2 DOM
4. 2026-06-15
   remarks 233-char remark
5. 2026-06-15
   days on marketlisting id $60,000 Active 1 DOM
6. 2026-06-15
   remarks 231-char remark
7. 2026-06-15
   listed $60,000 Active 2 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: $2,095 · $175/mo
• Projected year-2 tax: $2,095 · $175/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 ≥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: $16,501
• − Mortgage interest: −$3,361
• − Property taxes: −$2,095
• − Insurance: −$300
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$1,745
• Taxable income: $6,359
• Est. tax owed @ 24.0%: −$1,526
• After-tax cash flow: $5,338/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

+275.0% since first listed

16 events — show timeline

• 2026-06-12 Listed $60,000 REALCOMP
• 2026-06-12 Listed $60,000 MiRealSource-MiMLS
• 2011-09-06 Sold (MLS) $1,000 REALCOMP
• 2011-09-06 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2011-07-25 Listing Removed — MiRealSource-MiMLS
• 2011-07-19 Listed $1,000 REALCOMP
• 2011-07-19 Listed $1,000 MiRealSource-MiMLS
• 2004-03-19 Sold (Public Records) $75,000 Public Records
• 2003-05-14 Sold (MLS) $27,000 REALCOMP
• 2003-03-31 Listed $29,900 REALCOMP
• 2002-06-11 Sold (Public Records) $52,000 Public Records
• 1997-06-30 Sold (Public Records) $48,900 Public Records
• 1997-03-07 Sold (MLS) $23,000 MiRealSource-MiMLS
• 1997-02-08 Listing Removed — MiRealSource-MiMLS
• 1996-12-12 Listed $33,900 MiRealSource-MiMLS
• 1993-10-05 Sold (Public Records) $16,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,095 · +1.1% YoY. Source: county tax records.