987 E Philadelphia St · Detroit, MI 48211

$79,500

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 176 Days on market

Built 1909 3,920 sqft lot $66/sqft · 20% below area Est $100k · 20% 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 +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0
• Schools +1.3/10.0

Listing remarks MLS

NICE BUNGALOW HOME IN AN UPCOMING AREA IN DETROIT. PROPERTY COMES WITH 3 LOTS LOCATED ON EACH SIDE OF THE HOME 983 & 993 PHILADELPHIA AND 992 HAGUE, WHICH IS LOCATED DIRECTLY BEHIND ONE OF THE LOTS. THE CONTAINER THAT IS LOCATED ON ONE OF THE LOTS ALSO COMES WITH THE SALE OF THE PROPERTY AND MULTIPLE SHEDS. OWNER WILL BE REMOVING THE DOG CAGES AND EQUIPMENT INSIDE CONTAINER. THIS WOULD BE A GREAT INVESTMENT. THE LOTS ARE ALSO FENCED OFF AND A NEW DRIVE WAY HAS BEEN POURED. THE SELLER WILL LOOK AT ALL REASONABLE OFFERS.

Key facts

• Multiple sheds
• 3 lots
• New drive way

Tags

• 3 LOTS
• MULTIPLE SHEDS
• FENCED OFF
• NEW DRIVE WAY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $806 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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: 85 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $550 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 + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — 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: 2.10% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.47%
• DSCR: 2.93
• GRM: 4.0

CMA / ARV

• ARV (median comp): $99,556
• List price: $79,500
• Delta: -20.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
993 Mount Vernon St	0.18mi	3/1.0	1,194 (-0%)	17mo	$40,000	$34	76
910 E Philadelphia St	0.08mi	3/1.5	1,130 (-6%)	19mo	$7,500	$7	69
2320 Andrus St	0.74mi	3/2.0	1,220 (+2%)	1mo	$218,000	$179	58
1015 Clay St	0.34mi	3/1.0	1,350 (+12%)	8mo	$18,000	$13	57
9118 Brush St	0.45mi	2/1.0 (-1)	1,206 (+0%)	20mo	$5,135	$4	56
530 Kenilworth St	0.52mi	3/1.0	1,323 (+10%)	4mo	$68,000	$51	55
87 Hazelwood St	0.73mi	3/1.0	1,302 (+8%)	1mo	$27,000	$21	51
650 Melbourne St	0.19mi	4/1.5 (+1)	1,360 (+13%)	18mo	$35,000	$26	47
2242 Goodson St	0.67mi	4/2.0 (+1)	1,240 (+3%)	15mo	$53,240	$43	42
8436 Lumpkin St	0.61mi	2/1.5 (-1)	1,104 (-8%)	11mo	$125,000	$113	42
7370 Melrose St	0.53mi	3/2.0	1,350 (+12%)	18mo	$235,000	$174	36
2319 Andrus St	0.73mi	2/1.5 (-1)	1,040 (-13%)	9mo	$175,000	$168	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.3%
• Equity multiple: 2.73×
• Total profit: $38,474
• Equity at exit: $11,854

10-year hold

• IRR: 46.6%
• Equity multiple: 5.48×
• Total profit: $99,641
• Equity at exit: $6,874

Cash invested: $22,260 (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 48211

• Home prices YoY: -2.9%
• Active inventory: 85
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$417
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $806

Break-even live

Break-even rent $650

Max offer price $79,500

Occupancy floor 47%

Sensitivity live

Price	-10% $851	-5% $829	+0% $806	+5% $784	+10% $761
Rent	-10% $674	-5% $740	+0% $806	+5% $872	+10% $938
Rate	-1.0pp $846	-0.5pp $827	base $806	+0.5pp $786	+1.0pp $765

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
557 Hague St Detroit, MI	2.0	1.0	1250	$1,400	$1.12	44d	1	0.22mi
8416 Brush St Detroit, MI	3.0	1.5	1200	$2,200	$1.83	2d	1	0.33mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	2d	1	0.33mi
1119 Custer St Unit 202 Detroit, MI	2.0	1.0	800	$1,150	$1.44	13d	1	0.47mi
7436 Oakland St Detroit, MI	2.0	1.0	988	$1,625	$1.64	5d	1	0.51mi
68 E Philadelphia St Detroit, MI	3.0	2.0	1000	$1,750	$1.75	44d	1	0.53mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	44d	1	0.59mi
156 Leicester Ct Apt 2 Detroit, MI	3.0	1.0	1000	$1,250	$1.25	44d	1	0.61mi
59 Seward St Detroit, MI	1.0–2.0	1.0	976	$1,363	$1.40	44d	1	0.70mi
100 Seward Ave Detroit, MI	2.0	1.0–2.0	905	$1,575	$1.74	22d	1	0.74mi
30 W Bethune St Detroit, MI	2.0	1.5	1254	$2,100	$1.67	44d	1	0.76mi
70 Clairmount Ave Unit 2B Detroit, MI	2.0	1.0	955	$1,400	$1.47	3d	1	0.78mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	0.84mi
2297 Florian St Unit 2297 Hamtramck, MI	2.0	1.0	1500	$1,250	$0.83	25d	1	0.85mi
2228 Norwalk St Hamtramck, MI	2.0	1.0	866	$1,149	$1.33	15d	1	0.85mi
207 E Baltimore Ave Apt 800 Detroit, MI	2.0	1.5	1100	$1,800	$1.64	15d	1	0.86mi
7430 2nd Ave Unit 0312 Detroit, MI	2.0	2.0	877	$2,150	$2.45	44d	1	0.88mi
7430 2nd Ave Unit 1012 Detroit, MI	2.0	2.0	1100	$3,500	$3.18	44d	1	0.88mi
700 Seward Ave Detroit, MI	2.0	1.0	988	$1,845	$1.87	2d	2	0.91mi
715 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	20d	1	0.92mi
719 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	20d	1	0.92mi
2315 Yemans St Hamtramck, MI	2.0	2.5	1328	$1,600	$1.20	18d	1	1.04mi
5918 St Antoine Unit 405 Detroit, MI	2.0	1.0	775	$1,750	$2.26	44d	1	1.05mi
5918 St Antoine Detroit, MI	2.0	1.0–2.0	1187	$3,370	$2.84	0d	2	1.05mi
888 Pallister Detroit, MI	1.0–2.0	1.0	609	$1,250	$2.05	44d	1	1.07mi
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	25d	1	1.08mi
11326 Saint Aubin St Unit 2 Hamtramck, MI	2.0	1.0	800	$995	$1.24	25d	1	1.09mi
11384 Nagel St Hamtramck, MI	2.0	1.0	800	$1,150	$1.44	18d	1	1.11mi
450 Amsterdam St Detroit, MI	2.0	1.0–2.0	630	$2,720	$4.32	0d	19	1.14mi
2911 W Grand Blvd Detroit, MI	2.0	1.0–2.0	859	$2,590	$3.01	0d	4	1.14mi
6200 2nd Ave Detroit, MI	1.0–2.0	1.0	914	$1,860	$2.03	3d	2	1.15mi
2716 Belmont St Unit B Hamtramck, MI	2.0	1.0	965	$775	$0.80	21d	1	1.18mi
9422 McDougall Apt 1 Hamtramck, MI	2.0	1.0	750	$1,150	$1.53	5d	1	1.19mi
1226 Virginia Park St Unit 1226 Virginia Park, Upper V 1/10/26 (T) Detroit, MI	3.0	1.0	1100	$1,200	$1.09	44d	1	1.24mi
8263 Merrill St Detroit, MI	2.0	1.5	1092	$1,600	$1.47	44d	1	1.26mi
275 E Palmer St Detroit, MI	3.0	3.0	1500	$2,950	$1.97	44d	1	1.27mi
9 Woodland St Detroit, MI	1.0–2.0	1.0	637	$1,090	$1.71	17d	8	1.30mi
73 E Palmer St Detroit, MI	1.0–2.0	1.0	725	$1,355	$1.87	11d	2	1.34mi
1400 Seward Ave Unit 305 Detroit, MI	2.0	1.0	950	$1,295	$1.36	5d	1	1.37mi
1400 Seward Ave Unit 305 Detroit, MI	2.0	1.0	950	$1,295	$1.36	3d	1	1.37mi

Listing history 22 events

1. 2026-06-18
   days on market $79,500 Active 176 DOM
2. 2026-06-17
   days on market $79,500 Active 175 DOM
3. 2026-06-15
   days on market $79,500 Active 173 DOM
4. 2026-06-13
   days on market $79,500 Active 171 DOM
5. 2026-06-13
   days on market $79,500 Active 170 DOM
6. 2026-06-09
   days on market $79,500 Active 167 DOM
7. 2026-06-08
   pricedays on market $79,500 Active 166 DOM
8. 2026-06-07
   days on market $85,000 Active 165 DOM
9. 2026-06-04
   days on market $85,000 Active 162 DOM
10. 2026-06-03
    days on market $85,000 Active 161 DOM
11. 2026-06-01
    days on market $85,000 Active 159 DOM
12. 2026-05-31
    days on market $85,000 Active 158 DOM
13. 2026-01-11
    price $85,000 530-char remark

    Show marketing remark (530 chars)

    NICE BUNGALOW HOME IN AN UPCOMING AREA IN DETROIT. PROPERTY COMES WITH 3 LOTS LOCATED ON EACH SIDE OF THE HOME 983 & 993 PHILADELPHIA AND 992 HAGUE, WHICH IS LOCATED DIRECTLY BEHIND ONE OF THE LOTS. THE CONTAINER THAT IS LOCATED ON ONE OF THE LOTS ALSO COMES WITH THE SALE OF THE PROPERTY AND MULTIPLE SHEDS. OWNER WILL BE REMOVING THE DOG CAGES AND EQUIPMENT INSIDE CONTAINER. THIS WOULD BE A GREAT INVESTMENT. THE LOTS ARE ALSO FENCED OFF AND A NEW DRIVE WAY HAS BEEN POURED. THE SELLER WILL LOOK AT ALL REASONABLE OFFERS.

14. 2026-01-11
    price $85,000 530-char remark

    Show marketing remark (530 chars)

    NICE BUNGALOW HOME IN AN UPCOMING AREA IN DETROIT. PROPERTY COMES WITH 3 LOTS LOCATED ON EACH SIDE OF THE HOME 983 & 993 PHILADELPHIA AND 992 HAGUE, WHICH IS LOCATED DIRECTLY BEHIND ONE OF THE LOTS. THE CONTAINER THAT IS LOCATED ON ONE OF THE LOTS ALSO COMES WITH THE SALE OF THE PROPERTY AND MULTIPLE SHEDS. OWNER WILL BE REMOVING THE DOG CAGES AND EQUIPMENT INSIDE CONTAINER. THIS WOULD BE A GREAT INVESTMENT. THE LOTS ARE ALSO FENCED OFF AND A NEW DRIVE WAY HAS BEEN POURED. THE SELLER WILL LOOK AT ALL REASONABLE OFFERS.

15. 2025-12-24
    listed $100,000 Active 530-char remark

    Show marketing remark (530 chars)

    NICE BUNGALOW HOME IN AN UPCOMING AREA IN DETROIT. PROPERTY COMES WITH 3 LOTS LOCATED ON EACH SIDE OF THE HOME 983 & 993 PHILADELPHIA AND 992 HAGUE, WHICH IS LOCATED DIRECTLY BEHIND ONE OF THE LOTS. THE CONTAINER THAT IS LOCATED ON ONE OF THE LOTS ALSO COMES WITH THE SALE OF THE PROPERTY AND MULTIPLE SHEDS. OWNER WILL BE REMOVING THE DOG CAGES AND EQUIPMENT INSIDE CONTAINER. THIS WOULD BE A GREAT INVESTMENT. THE LOTS ARE ALSO FENCED OFF AND A NEW DRIVE WAY HAS BEEN POURED. THE SELLER WILL LOOK AT ALL REASONABLE OFFERS.

16. 2025-12-24
    listed $100,000 Active 530-char remark

    Show marketing remark (530 chars)

    NICE BUNGALOW HOME IN AN UPCOMING AREA IN DETROIT. PROPERTY COMES WITH 3 LOTS LOCATED ON EACH SIDE OF THE HOME 983 & 993 PHILADELPHIA AND 992 HAGUE, WHICH IS LOCATED DIRECTLY BEHIND ONE OF THE LOTS. THE CONTAINER THAT IS LOCATED ON ONE OF THE LOTS ALSO COMES WITH THE SALE OF THE PROPERTY AND MULTIPLE SHEDS. OWNER WILL BE REMOVING THE DOG CAGES AND EQUIPMENT INSIDE CONTAINER. THIS WOULD BE A GREAT INVESTMENT. THE LOTS ARE ALSO FENCED OFF AND A NEW DRIVE WAY HAS BEEN POURED. THE SELLER WILL LOOK AT ALL REASONABLE OFFERS.

17. 2025-05-12
    historical
18. 2025-05-12
    historical
19. 2025-02-13
    price $185,000
20. 2025-02-12
    price $185,000
21. 2024-12-09
    listed $220,000 Active
22. 2024-12-09
    listed $220,000 Active

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $994 · $83/mo
• Expected delta: +$231/yr (+$19/mo · 30.2%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,049
• − Mortgage interest: −$4,453
• − Property taxes: −$763
• − Insurance: −$398
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$2,313
• Taxable income: $8,915
• Est. tax owed @ 24.0%: −$2,140
• After-tax cash flow: $7,536/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
• City population: 572,865
• Population (ZIP): 5,556

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 45% Black 42% Two or more races 7% Asian 2% Hispanic / Latino 2% Native American 1%
• Common ancestry: Romanian 1% Slovak 1%
• Foreign-born: 25% · Canada
• Languages at home: 57% English-only · Arabic 38% Spanish 1% Tagalog/Filipino 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: ▼ -5.80%
• Current HPI: 191.8607
• Rent YoY: —
• Metro: —
• 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

-61.4% since first listed

10 events — show timeline

• 2026-01-11 Price Changed $85,000 MiRealSource-MiMLS
• 2026-01-11 Price Changed $85,000 REALCOMP
• 2025-12-24 Listed $100,000 REALCOMP
• 2025-12-24 Listed $100,000 MiRealSource-MiMLS
• 2025-05-12 Listing Removed — REALCOMP
• 2025-05-12 Listing Removed — MiRealSource-MiMLS
• 2025-02-13 Price Changed $185,000 MiRealSource-MiMLS
• 2025-02-12 Price Changed $185,000 REALCOMP
• 2024-12-09 Listed $220,000 REALCOMP
• 2024-12-09 Listed $220,000 MiRealSource-MiMLS

Property tax history

+6.3%/yr

Latest (2025): $763 · -10.0% YoY. Source: county tax records.