9362 Memorial St · Detroit, MI 48228

$55,000

3 bd · 1.0 ba · 949 sqft · SingleFamily public records · 39 Days on market

Built 1939 4,356 sqft lot $58/sqft · at area comps Est $57k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.9/15.0
• 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

Welcome Home! 3-bedroom, 1-bath bungalow--perfect for a first-time homebuyer ready to make it their own! This single-family home has the original hardwood floors on the main level. Some TLC is needed, but that simply means this is an incredible opportunity to add your personal touches and build equity along the way. Whether you're looking to customize your first home or invest in a property with great potential, this bungalow is full of promise. Don't miss your chance to turn this house into your dream home!

Key facts

• 4,356 sq ft lot
• Built 1939
• Listed 39 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.7% vs local median 10.0% 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: 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.
• Zoned schools: Henderson Academy (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 520 students, 91% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents soft (-2.3%/yr); 367 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1,299/mo this rent would consume 51% 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 $380 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 + 0.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 7 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.
• Current owner paid $10k; list at $55k implies a 424% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1939 — 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: 2.36% ✓
• Cap rate: 21.66%
• Cash-on-cash: 54.87%
• DSCR: 3.44
• GRM: 3.5

CMA / ARV

• ARV (median comp): $56,829
• List price: $55,000
• Delta: -3.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9352 Rutland St	0.06mi	3/1.0	915 (-4%)	6mo	$15,000	$16	86
9580 Mansfield St	0.46mi	2/1.0 (-1)	890 (-6%)	0mo	$23,000	$26	63
9555 Montrose St	0.61mi	3/1.0	999 (+5%)	3mo	$45,000	$45	61
9973 Winthrop St	0.73mi	3/1.0	960 (+1%)	5mo	$75,000	$78	60
9163 Montrose St	0.64mi	3/1.0	1,000 (+5%)	4mo	$29,000	$29	58
9965 Asbury Park	0.37mi	3/1.0	824 (-13%)	6mo	$60,000	$73	56
8855 Rosemont Ave	0.55mi	3/1.0	1,019 (+7%)	9mo	$123,000	$121	55
11375 Grandmont Ave	0.48mi	3/1.0	1,083 (+14%)	1mo	$104,000	$96	54
8838 Faust Ave	0.63mi	3/1.0	1,029 (+8%)	4mo	$54,500	$53	53
10017 Mansfield St	0.54mi	2/1.0 (-1)	862 (-9%)	8mo	$45,000	$52	48
11658 Ashton Ave	0.70mi	3/1.0	1,080 (+14%)	0mo	$89,000	$82	44
9109 Stahelin Ave	0.74mi	2/1.0 (-1)	836 (-12%)	3mo	$25,000	$30	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 49.8%
• Equity multiple: 3.09×
• Total profit: $32,112
• Equity at exit: $8,201

10-year hold

• IRR: 54.1%
• Equity multiple: 5.61×
• Total profit: $70,933
• Equity at exit: $4,755

Cash invested: $15,400 (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: 367
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,299 high
• Mortgage (P&I): −$288
• Tax from tax record: −$11 /mo · $130/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $704

Break-even live

Break-even rent $408

Max offer price $55,000

Occupancy floor 41%

Sensitivity live

Price	-10% $735	-5% $720	+0% $704	+5% $689	+10% $673
Rent	-10% $602	-5% $653	+0% $704	+5% $755	+10% $807
Rate	-1.0pp $732	-0.5pp $718	base $704	+0.5pp $690	+1.0pp $675

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	6d	1	0.25mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	26d	1	0.47mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	0d	15	0.48mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	19d	1	0.50mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	18d	1	0.61mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	45d	1	0.69mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	18d	1	0.71mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	45d	1	0.71mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	45d	1	0.75mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	6d	1	0.81mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	18d	1	0.84mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	26d	1	0.87mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	14d	1	0.87mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	18d	1	0.94mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	45d	1	0.95mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	45d	1	0.95mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	3d	1	0.99mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	18d	1	0.99mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	45d	1	1.00mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	45d	1	1.03mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	45d	1	1.03mi
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	23d	1	1.04mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	19d	1	1.08mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	26d	1	1.12mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	45d	1	1.16mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.21mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	45d	1	1.23mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	1.31mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,100	$1.12	0d	1	1.33mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	45d	1	1.36mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	26d	1	1.37mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	6d	1	1.42mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	6d	1	1.44mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.46mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	45d	1	1.46mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	6d	1	1.49mi

Listing history 17 events

1. 2026-04-17
   listed $55,000 Active 513-char remark

   Show marketing remark (514 chars)

   Welcome Home! 3-bedroom, 1-bath bungalow--perfect for a first-time homebuyer ready to make it their own! This single-family home has the original hardwood floors on the main level. Some TLC is needed, but that simply means this is an incredible opportunity to add your personal touches and build equity along the way. Whether you're looking to customize your first home or invest in a property with great potential, this bungalow is full of promise. Don't miss your chance to turn this house into your dream home!

2. 2026-04-17
   listed $55,000 Active 514-char remark

   Show marketing remark (514 chars)

   Welcome Home! 3-bedroom, 1-bath bungalow--perfect for a first-time homebuyer ready to make it their own! This single-family home has the original hardwood floors on the main level. Some TLC is needed, but that simply means this is an incredible opportunity to add your personal touches and build equity along the way. Whether you're looking to customize your first home or invest in a property with great potential, this bungalow is full of promise. Don't miss your chance to turn this house into your dream home!

3. 2026-04-17
   listed $55,000 Active

   Show marketing remark (514 chars)

   Welcome Home! 3-bedroom, 1-bath bungalow--perfect for a first-time homebuyer ready to make it their own! This single-family home has the original hardwood floors on the main level. Some TLC is needed, but that simply means this is an incredible opportunity to add your personal touches and build equity along the way. Whether you're looking to customize your first home or invest in a property with great potential, this bungalow is full of promise. Don't miss your chance to turn this house into your dream home!

4. 2026-04-14
   historical $55,000 513-char remark

   Show marketing remark (513 chars)

   Welcome Home! 3-bedroom, 1-bath bungalow--perfect for a first-time homebuyer ready to make it their own! This single-family home has the original hardwood floors on the main level. Some TLC is needed, but that simply means this is an incredible opportunity to add your personal touches and build equity along the way. Whether you're looking to customize your first home or invest in a property with great potential, this bungalow is full of promise. Don't miss your chance to turn this house into your dream home!

5. 2026-04-13
   historical $55,000
6. 2026-03-02
   historical
7. 2026-01-15
   listed $55,000 Active
8. 2026-01-15
   listed $55,000 Active
9. 2026-01-13
   historical
10. 2025-04-03
    historical
11. 2025-03-10
    price $52,998
12. 2025-03-09
    price $52,998
13. 2025-03-09
    price $52,998
14. 2025-02-14
    listed $56,998 Active
15. 2025-02-14
    listed $56,998 Active
16. 1994-11-29
    soldstatus $10,500
17. 1994-11-04
    soldstatus $5,545

ⓘ 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: $130 · $11/mo
• Projected year-2 tax: $488 · $41/mo
• Expected delta: +$358/yr (+$30/mo · 275.8%)

ⓘ 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 ≥98°F today · 14 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: $15,590
• − Mortgage interest: −$3,081
• − Property taxes: −$130
• − Insurance: −$275
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$1,600
• Taxable income: $8,010
• Est. tax owed @ 24.0%: −$1,922
• After-tax cash flow: $6,528/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

+891.9% since first listed

17 events — show timeline

• 2026-04-17 Listed $55,000 MiRealSource-MiMLS
• 2026-04-17 Listed $55,000 REALCOMP
• 2026-04-17 Listed $55,000 SW Michigan MLS
• 2026-04-14 Coming Soon $55,000 MiRealSource-MiMLS
• 2026-04-13 Coming Soon $55,000 SW Michigan MLS
• 2026-03-02 Listing Removed — MiRealSource-MiMLS
• 2026-01-15 Listed $55,000 REALCOMP
• 2026-01-15 Listed $55,000 MiRealSource-MiMLS
• 2026-01-13 Coming Soon — MiRealSource-MiMLS
• 2025-04-03 Listing Removed — MiRealSource-MiMLS
• 2025-03-10 Price Changed $52,998 MiRealSource-MiMLS
• 2025-03-09 Price Changed $52,998 REALCOMP
• 2025-03-09 Price Changed $52,998 SW Michigan MLS
• 2025-02-14 Listed $56,998 REALCOMP
• 2025-02-14 Listed $56,998 MiRealSource-MiMLS
• 1994-11-29 Sold (Public Records) $10,500 Public Records
• 1994-11-04 Sold (Public Records) $5,545 Public Records

Property tax history

-18.2%/yr

Latest (2025): $130 · -50.2% YoY. Source: county tax records.