1922 S Annabelle St · Detroit, MI 48217

$139,900

3 bd · 1.5 ba · 1,592 sqft · SingleFamily public records · 18 Days on market

Built 1930 4,792 sqft lot Est $94k · 49% over

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Why this score? — see what drove the D 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 +16.4/30.0
• DSCR +5.1/10.0
• Appreciation +5.1/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Key facts

• 4,792 sq ft lot
• Built 1930
• Listed 17 days

Property features AI

Finance

• Other: Property type: Residential; Lot acreage approx. 0.11 acre
• Financial info: No investor or rental income details provided
• HOA & community: No land contract

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer (not explicitly stated but utilities listed); Natural gas; Electric service (standard)
• Home design: Residential 2-story; Built in 1930; Basement entry level
• Construction: Brick construction; Basement foundation; Built in 1930
• Exterior features: Brick exterior; Front porch; Paved street access; 35 ft. frontage

Interior

• Kitchen: Kitchen on entry level (approx. 10 x 10); Ceramic kitchen flooring
• Bedrooms: Three bedrooms on the second floor (14 x 13; 10 x 14; ~10); Carpeted bedrooms
• Flooring: Carpet in living, dining and bedrooms; Ceramic in kitchen and bathrooms
• Bathrooms: Two total bathrooms, including one full bathroom; Ceramic flooring in bath areas; Entry-level lavatory approx. 6 x 8; second-floor bath approx. 7 x 8
• Heating & cooling: Forced air heating; Central A/C; Natural gas heating fuel; Gas water heater
• Interior features: 8 total rooms; Unfinished basement
• Laundry & utility: Basement present (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $79 ($951/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (13.7% below list).
• Recommended offer: $121k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 10.0% 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: 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: Mark Twain Elementarymiddle School (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 236 students, 85% FRL); Western International High School (math 2% / reading 22%, grade F, #653 of 713 statewide, top 92%, 2,151 students, 76% FRL).
• Market conditions: 26 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($967 loan paydown + $152 appreciation (0.1% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,769 (13.7% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $93,928
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1926 S Ethel St	0.19mi	3/1.5	1,625 (+2%)	4mo	$75,000	$46	85
1740 S Beatrice St	0.14mi	3/1.5	1,454 (-9%)	16mo	$98,455	$68	66
412 Campbell St	0.32mi	4/2.0 (+1)	1,487 (-7%)	6mo	$136,000	$91	62
2474 S Deacon St	0.33mi	3/1.5	1,434 (-10%)	15mo	$72,000	$50	56
2492 S Beatrice St	0.33mi	3/1.0	1,708 (+7%)	22mo	$60,000	$35	52
1320 S Bassett St	0.48mi	3/1.0	1,400 (-12%)	8mo	$82,000	$59	49
439 Palmerston St	0.62mi	3/1.5	1,691 (+6%)	23mo	$108,500	$64	41
545 Campbell St	0.59mi	3/1.0	1,761 (+11%)	16mo	$120,000	$68	40
1245 S Liddesdale St	0.48mi	3/1.0	1,393 (-12%)	19mo	$9,500	$7	39
3010 S Annabelle St	0.66mi	4/2.5 (+1)	1,428 (-10%)	17mo	$45,000	$32	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,630
• Equity at exit: $41,383

10-year hold

• IRR: 6.3%
• Equity multiple: 1.69×
• Total profit: $26,926
• Equity at exit: $50,354

Cash invested: $39,172 (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 48217

• Home prices YoY: 0.0%
• Active inventory: 26
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$83 /mo · $995/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $79

Break-even live

Break-even rent $1,107

Max offer price $139,900

Occupancy floor 88%

Sensitivity live

Price	-10% $158	-5% $119	+0% $79	+5% $40	+10% $0
Rent	-10% $-16	-5% $32	+0% $79	+5% $127	+10% $175
Rate	-1.0pp $150	-0.5pp $115	base $79	+0.5pp $43	+1.0pp $6

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3801 18th St Ecorse, MI	3.0	1.0	1196	$1,150	$0.96	20d	1	0.75mi
4015 16th St Ecorse, MI	3.0	1.5	1170	$1,300	$1.11	26d	1	1.18mi

Listing history 12 events

1. 2026-06-22
   days on market $139,900 Active 18 DOM
2. 2026-06-21
   days on market $139,900 Active 17 DOM
3. 2026-06-18
   days on market $139,900 Active 14 DOM
4. 2026-06-17
   days on market $139,900 Active 13 DOM
5. 2026-06-16
   days on market $139,900 Active 12 DOM
6. 2026-06-15
   days on market $139,900 Active 11 DOM
7. 2026-06-13
   days on market $139,900 Active 9 DOM
8. 2026-06-13
   days on market $139,900 Active 8 DOM
9. 2026-06-09
   days on market $139,900 Active 5 DOM
10. 2026-06-08
    days on market $139,900 Active 4 DOM
11. 2026-06-07
    statusdays on marketlisting id $139,900 Active 3 DOM
12. 2026-06-04
    listed $139,900 Coming Soon 1 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: $995 · $83/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$580/yr (+$48/mo · 58.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 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: $14,492
• − Mortgage interest: −$7,837
• − Property taxes: −$995
• − Insurance: −$700
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$4,070
• Taxable loss: −$1,427
• Est. tax savings @ 24.0%: +$343
• After-tax cash flow: $1,293/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): 6,437

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 (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 12% Two or more races 10% White 4%
• Hispanic origin (detail): Mexican 5% Dominican 4%
• Common ancestry: Lithuanian 6% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▲ 0.11%
• Current HPI: 366.479
• 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

+86.8% since first listed

11 events — show timeline

• 2026-06-05 Listed $139,900 MiRealSource-MiMLS
• 2026-06-05 Listed $139,900 REALCOMP
• 2026-06-03 Coming Soon $139,900 MiRealSource-MiMLS
• 2018-03-01 Listing Removed — MiRealSource-MiMLS
• 2018-03-01 Listing Removed — REALCOMP
• 2017-07-12 Listed $75,000 MiRealSource-MiMLS
• 2017-07-12 Listed $75,000 REALCOMP
• 2007-10-16 Listing Removed — REALCOMP
• 2006-03-22 Listed $34,300 REALCOMP
• 2005-10-13 Listing Removed — REALCOMP
• 2005-04-13 Listed $74,900 REALCOMP

Property tax history

-3.2%/yr

Latest (2025): $995 · -49.4% YoY. Source: county tax records.