8864 Heyden St · Detroit, MI 48228

$54,000

3 bd · 1.0 ba · 1,009 sqft · SingleFamily public records · 117 Days on market

Built 1948 4,792 sqft lot $54/sqft · at area comps Est $56k · at est. ↓ 43% since listing

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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 +9.4/15.0
• 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

Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

Key facts

• Vinyl windows
• Newer roof
• Rouge park

Tags

• NEWER ROOF
• VINYL WINDOWS
• NEWER MECHANICALS
• ROUGE PARK
• ROUGE PARK GOLF COURSE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Recommended offer: $49k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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: 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 soft (-2.3%/yr); 367 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• At $1,172/mo this rent would consume 46% 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 $373 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $6k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,140 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.17% ✓
• Cap rate: 16.46%
• Cash-on-cash: 36.31%
• DSCR: 2.62
• GRM: 3.8

CMA / ARV

• ARV (median comp): $56,412
• List price: $54,000
• Delta: -4.28%
• 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
9116 Patton St	0.25mi	3/1.0	1,029 (+2%)	1mo	$45,000	$44	84
8234 Patton St	0.45mi	3/1.0	1,010 (+0%)	2mo	$60,000	$59	78
9328 Patton St	0.38mi	3/1.0	1,062 (+5%)	1mo	$50,000	$47	73
9012 Pierson St	0.32mi	3/1.0	910 (-10%)	0mo	$60,000	$66	68
8427 Piedmont St	0.55mi	3/1.0	1,056 (+5%)	2mo	$62,000	$59	65
7690 Heyden St	0.72mi	3/1.0	1,019 (+1%)	1mo	$73,000	$72	64
9072 Burt Rd	0.39mi	3/1.0	906 (-10%)	2mo	$57,000	$63	63
8277 Stout St	0.38mi	3/1.0	879 (-13%)	0mo	$45,000	$51	61
9317 Artesian St	0.68mi	2/1.0 (-1)	994 (-2%)	1mo	$25,000	$25	60
8225 Grandville Ave	0.59mi	2/1.0 (-1)	906 (-10%)	2mo	$36,500	$40	49
8686 Artesian St	0.63mi	3/1.0	864 (-14%)	2mo	$35,000	$41	45
9977 Evergreen Ave	0.69mi	3/1.0	1,150 (+14%)	2mo	$86,000	$75	43

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: 28.3%
• Equity multiple: 2.13×
• Total profit: $17,034
• Equity at exit: $8,052

10-year hold

• IRR: 33.7%
• Equity multiple: 3.61×
• Total profit: $39,395
• Equity at exit: $4,669

Cash invested: $15,120 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,172 high
• Mortgage (P&I): −$283
• Tax from tax record: −$163 /mo · $1,951/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $458

Break-even live

Break-even rent $593

Max offer price $54,000

Occupancy floor 56%

Sensitivity live

Price	-10% $488	-5% $473	+0% $458	+5% $442	+10% $427
Rent	-10% $365	-5% $411	+0% $458	+5% $504	+10% $550
Rate	-1.0pp $485	-0.5pp $471	base $458	+0.5pp $444	+1.0pp $429

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: $13,500
• Closing costs: $1,620
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	6d	1	0.39mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.41mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	45d	1	0.41mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.42mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.42mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.42mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.42mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	45d	1	0.42mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.42mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.42mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.44mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	45d	1	0.44mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.45mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	45d	1	0.49mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	19d	1	0.52mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	23d	1	0.52mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.57mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.58mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.58mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.59mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.59mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	45d	1	0.60mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	19d	1	0.62mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.65mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	45d	1	0.69mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	14d	1	0.89mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	0d	15	0.96mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	45d	1	0.96mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	19d	1	0.99mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	45d	1	1.01mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	6d	1	1.07mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.13mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	6d	1	1.19mi
6874 Country Ln Dearborn Heights, MI	2.0	1.5	1400	$1,500	$1.07	45d	1	1.25mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	26d	1	1.28mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	18d	1	1.37mi
8254 W Parkway St Redford, MI	3.0	1.0	1220	$1,350	$1.11	14d	1	1.41mi

Listing history 31 events

1. 2026-06-08
   statusdays on market $54,000 Pending 117 DOM
2. 2026-06-07
   days on market $54,000 Active 116 DOM
3. 2026-06-04
   days on market $54,000 Active 113 DOM
4. 2026-06-03
   days on market $54,000 Active 112 DOM
5. 2026-06-01
   days on market $54,000 Active 110 DOM
6. 2026-05-31
   days on market $54,000 Active 109 DOM
7. 2026-04-19
   price $54,000 478-char remark

   Show marketing remark (478 chars)

   Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

8. 2026-04-18
   price $54,000 478-char remark

   Show marketing remark (478 chars)

   Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

9. 2026-03-05
   price $57,000 478-char remark

   Show marketing remark (478 chars)

   Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

10. 2026-03-04
    price $57,000 478-char remark

    Show marketing remark (478 chars)

    Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

11. 2026-02-11
    listed $60,000 Active 478-char remark

    Show marketing remark (478 chars)

    Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

12. 2026-02-11
    listed $60,000 Active 478-char remark

    Show marketing remark (478 chars)

    Franklin Park Bungalow loaded with potential! Great for a first time buyer looking to put in some sweat equity and or a solid addition to your rental portfolio. This house features a newer roof (2022), vinyl windows and newer mechanicals that are currently in storage. Situated in a neighborhood on the northwest side that is positioned for growth. Close by Rouge Park and Rouge Park Golf Course. Don't miss out on this opportunity. Call Jamal to set up your private tour today.

13. 2024-05-20
    historical $1,100
14. 2024-05-07
    price $1,100
15. 2024-04-27
    price $1,200
16. 2024-04-12
    listed $1,300
17. 2024-04-10
    historical $1,350
18. 2024-03-13
    listed $1,350
19. 2022-10-05
    soldstatus $75,000
20. 2017-11-10
    historical
21. 2017-11-10
    historical
22. 2017-08-11
    listed $9,900 Active
23. 2017-08-11
    listed $9,900 Active
24. 2007-03-27
    historical
25. 2007-02-08
    listed $49,900
26. 2007-02-07
    historical
27. 2006-11-07
    listed $52,900
28. 2006-10-11
    historical
29. 2006-06-13
    listed $92,900
30. 1998-10-07
    soldstatus $54,000
31. 1998-01-08
    soldstatus $95,000

ⓘ 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: $1,951 · $163/mo
• Projected year-2 tax: $1,951 · $163/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 ≥99°F today · 15 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: $14,063
• − Mortgage interest: −$3,025
• − Property taxes: −$1,951
• − Insurance: −$270
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$1,571
• Taxable income: $4,996
• Est. tax owed @ 24.0%: −$1,199
• After-tax cash flow: $4,292/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

-43.2% since first listed

25 events — show timeline

• 2026-04-19 Price Changed $54,000 MiRealSource-MiMLS
• 2026-04-18 Price Changed $54,000 REALCOMP
• 2026-03-05 Price Changed $57,000 MiRealSource-MiMLS
• 2026-03-04 Price Changed $57,000 REALCOMP
• 2026-02-11 Listed $60,000 REALCOMP
• 2026-02-11 Listed $60,000 MiRealSource-MiMLS
• 2024-05-20 Rental Removed $1,100 APPFOLIO
• 2024-05-07 Price Changed $1,100 APPFOLIO
• 2024-04-27 Price Changed $1,200 APPFOLIO
• 2024-04-12 Listed for Rent $1,300 APPFOLIO
• 2024-04-10 Rental Removed $1,350 APPFOLIO
• 2024-03-13 Listed for Rent $1,350 APPFOLIO
• 2022-10-05 Sold (Public Records) $75,000 Public Records
• 2017-11-10 Listing Removed — MiRealSource-MiMLS
• 2017-11-10 Listing Removed — REALCOMP
• 2017-08-11 Listed $9,900 MiRealSource-MiMLS
• 2017-08-11 Listed $9,900 REALCOMP
• 2007-03-27 Listing Removed — REALCOMP
• 2007-02-08 Listed $49,900 REALCOMP
• 2007-02-07 Listing Removed — REALCOMP
• 2006-11-07 Listed $52,900 REALCOMP
• 2006-10-11 Listing Removed — REALCOMP
• 2006-06-13 Listed $92,900 REALCOMP
• 1998-10-07 Sold (Public Records) $54,000 Public Records
• 1998-01-08 Sold (Public Records) $95,000 Public Records

Property tax history

+18.2%/yr

Latest (2025): $1,951 · -54.3% YoY. Source: county tax records.