798 Distel St · Detroit, MI 48209

$105,000

4 bd · 1.0 ba · 836 sqft · SingleFamily public records · 6 Days on market

Built 1903 3,485 sqft lot

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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 +27.8/30.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Discover a piece of Detroit's enduring legacy at 798 Distel ST, a distinguished single-family residence constructed in 1903 and remodeled in 2021. This property offers a unique opportunity to own a home with a rich history, ready to begin its next chapter with a discerning owner. The three bedrooms provide comfortable and private spaces, each offering a blank canvas for personalization and rest. The upper and lower bathrooms offer convenience which didn't exist before as this home was converted into a two story , ready to serve the needs of the household. This historical (which is not registered historical so no you don't have to worry about the historical society telling you your paint colors) residence invites you to explore its potential and envision the life you could create within its walls.

Key facts

• 3,485 sq ft lot
• Built 1903
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

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: 69 active listings in the ZIP; 3 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).
• This rent runs 37% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $8k; list at $105k implies a 1212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1903 — 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. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 9.93%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 3.64×
• Total profit: $77,500
• Equity at exit: $94,592

10-year hold

• IRR: 29.2%
• Equity multiple: 8.22×
• Total profit: $212,305
• Equity at exit: $203,992

Cash invested: $29,400 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 69
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,322 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $319

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 71%

Sensitivity live

Price	-10% $391	-5% $355	+0% $319	+5% $282	+10% $246
Rent	-10% $214	-5% $266	+0% $319	+5% $371	+10% $423
Rate	-1.0pp $372	-0.5pp $345	base $319	+0.5pp $291	+1.0pp $264

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2488 Woodmere St Detroit, MI	3.0	1.0	1000	$1,453	$1.45	6d	1	0.96mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	45d	1	1.43mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	26d	1	1.43mi

Listing history 5 events

1. 2026-04-27
   status Pending 807-char remark

   Show marketing remark (807 chars)

   Discover a piece of Detroit's enduring legacy at 798 Distel ST, a distinguished single-family residence constructed in 1903 and remodeled in 2021. This property offers a unique opportunity to own a home with a rich history, ready to begin its next chapter with a discerning owner. The three bedrooms provide comfortable and private spaces, each offering a blank canvas for personalization and rest. The upper and lower bathrooms offer convenience which didn't exist before as this home was converted into a two story , ready to serve the needs of the household. This historical (which is not registered historical so no you don't have to worry about the historical society telling you your paint colors) residence invites you to explore its potential and envision the life you could create within its walls.

2. 2026-04-27
   status Pending

   Show marketing remark (807 chars)

   Discover a piece of Detroit's enduring legacy at 798 Distel ST, a distinguished single-family residence constructed in 1903 and remodeled in 2021. This property offers a unique opportunity to own a home with a rich history, ready to begin its next chapter with a discerning owner. The three bedrooms provide comfortable and private spaces, each offering a blank canvas for personalization and rest. The upper and lower bathrooms offer convenience which didn't exist before as this home was converted into a two story , ready to serve the needs of the household. This historical (which is not registered historical so no you don't have to worry about the historical society telling you your paint colors) residence invites you to explore its potential and envision the life you could create within its walls.

3. 2026-04-21
   listed $105,000 Active 807-char remark

   Show marketing remark (807 chars)

   Discover a piece of Detroit's enduring legacy at 798 Distel ST, a distinguished single-family residence constructed in 1903 and remodeled in 2021. This property offers a unique opportunity to own a home with a rich history, ready to begin its next chapter with a discerning owner. The three bedrooms provide comfortable and private spaces, each offering a blank canvas for personalization and rest. The upper and lower bathrooms offer convenience which didn't exist before as this home was converted into a two story , ready to serve the needs of the household. This historical (which is not registered historical so no you don't have to worry about the historical society telling you your paint colors) residence invites you to explore its potential and envision the life you could create within its walls.

4. 2026-04-21
   listed $105,000 Active

   Show marketing remark (807 chars)

   Discover a piece of Detroit's enduring legacy at 798 Distel ST, a distinguished single-family residence constructed in 1903 and remodeled in 2021. This property offers a unique opportunity to own a home with a rich history, ready to begin its next chapter with a discerning owner. The three bedrooms provide comfortable and private spaces, each offering a blank canvas for personalization and rest. The upper and lower bathrooms offer convenience which didn't exist before as this home was converted into a two story , ready to serve the needs of the household. This historical (which is not registered historical so no you don't have to worry about the historical society telling you your paint colors) residence invites you to explore its potential and envision the life you could create within its walls.

5. 1995-07-12
   soldstatus $8,000

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,862
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − Depreciation: −$3,055
• Taxable income: $2,288
• Est. tax owed @ 24.0%: −$549
• After-tax cash flow: $3,274/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• Rent YoY: —
• 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

+1212.5% since first listed

5 events — show timeline

• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — REALCOMP
• 2026-04-21 Listed $105,000 REALCOMP
• 2026-04-21 Listed $105,000 MiRealSource-MiMLS
• 1995-07-12 Sold (Public Records) $8,000 Public Records

Property tax history

-13.3%/yr

Latest (2025): $130 · -95.3% YoY. Source: county tax records.