16069 Fairmount Dr · Detroit, MI 48205 1449

$105,000

3 bd · 1.0 ba · 870 sqft · SingleFamily public records · 1 Days on market

Built 1943 4,356 sqft lot $121/sqft · 109% above area

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Why this score? — see what drove the C+ 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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Appreciation +5.0/10.0
• 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

First time homebuyers looking for a place to call your own or a First time investor The home is truly turn-key, meaning you can move right in or start generating income immediately - no major work needed. The bungalow-style design provides a classic Detroit feel with efficient use of space, making it both inviting and easy to maintain. Located in a convenient neighborhood with access to major roads, shopping, and local amenities, this is an opportunity you don't want to miss. Perfect for: ? First-time homebuyers ready to stop renting ? Investors looking for a cash-flowing asset ? Anyone seeking a low-maintenance, move-in-ready home

Key facts

• New vanity
• Updated kitchen
• Tiled tub surround

Tags

• UPDATED KITCHEN
• MARBLE-STYLE COUNTERTOPS
• REMODELED FULL BATH
• TILED TUB SURROUND
• NEW VANITY
• DESIGNER GOLD FIXTURES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/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: 1 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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

• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 20y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1943 — 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: 1.23% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• GRM: 6.8

CMA / ARV

• ARV (median comp): $50,280
• List price: $105,000
• Delta: 116.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16107 Manning St	0.26mi	3/1.0	925 (+6%)	2mo	$61,000	$66	76
16291 Fairmount Dr	0.14mi	3/1.0	977 (+12%)	2mo	$112,000	$115	71
16209 Tacoma St	0.21mi	3/1.0	968 (+11%)	1mo	$62,900	$65	71
16062 Carlisle St	0.28mi	3/1.0	957 (+10%)	1mo	$42,000	$44	70
16062 CARLISLE St	0.28mi	3/1.0	957 (+10%)	1mo	$42,000	$44	70
16277 Liberal St	0.34mi	3/1.0	945 (+9%)	1mo	$25,000	$26	69
16301 Coram St	0.47mi	3/1.0	929 (+7%)	1mo	$19,500	$21	66
18746 Woodside St	0.61mi	3/1.0	921 (+6%)	2mo	$110,000	$119	61
18953 Woodcrest St	0.72mi	3/1.0	917 (+5%)	3mo	$105,000	$115	55
18591 Kingsville St	0.69mi	2/1.0 (-1)	824 (-5%)	1mo	$74,000	$90	53
18567 Woodside Rd	0.53mi	2/1.0 (-1)	960 (+10%)	3mo	$65,000	$68	51
19249 Kelly Rd	0.56mi	2/1.0 (-1)	985 (+13%)	3mo	$27,500	$28	44

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: 17.5%
• Equity multiple: 2.00×
• Total profit: $29,315
• Equity at exit: $47,213

10-year hold

• IRR: 19.0%
• Equity multiple: 3.76×
• Total profit: $81,135
• Equity at exit: $72,760

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 48205 1449

• Active inventory: 1
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,296 high
• Mortgage (P&I): −$551
• Tax from tax record: −$168 /mo · $2,021/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $261

Break-even live

Break-even rent $966

Max offer price $105,000

Occupancy floor 75%

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 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	0.13mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	15d	1	0.22mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.27mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	15d	1	0.42mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.58mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.60mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.84mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.94mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	1.02mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	1.06mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	1.13mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	1.13mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.14mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.16mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	1.16mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	1.19mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	43d	1	1.22mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.25mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	1.29mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	1.31mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	1.38mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	1.39mi
20600 Balfour St Harper Woods, MI	1.0–2.0	1.0–2.0	971	$1,671	$1.72	1d	12	1.39mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	1.40mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	1.44mi

Listing history 49 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   pricestatusdays on marketlisting id $105,000 Coming Soon 1 DOM
3. 2026-06-13
   days on market $109,000 Active 65 DOM
4. 2026-06-13
   days on market $109,000 Active 64 DOM
5. 2026-06-09
   days on market $109,000 Active 61 DOM
6. 2026-06-08
   days on market $109,000 Active 60 DOM
7. 2026-06-07
   days on market $109,000 Active 59 DOM
8. 2026-06-04
   days on market $109,000 Active 56 DOM
9. 2026-06-03
   days on market $109,000 Active 55 DOM
10. 2026-06-02
    days on market $109,000 Active 54 DOM
11. 2026-06-01
    days on market $109,000 Active 53 DOM
12. 2026-05-31
    days on market $109,000 Active 52 DOM
13. 2026-04-22
    price $109,000 639-char remark

    Show marketing remark (650 chars)

    First time homebuyers looking for a place to call your own or a First time investor The home is truly turn-key, meaning you can move right in or start generating income immediately—no major work needed. The bungalow-style design provides a classic Detroit feel with efficient use of space, making it both inviting and easy to maintain. Located in a convenient neighborhood with access to major roads, shopping, and local amenities, this is an opportunity you don’t want to miss. Perfect for: ? First-time homebuyers ready to stop renting ? Investors looking for a cash-flowing asset ? Anyone seeking a low-maintenance, move-in-ready home

14. 2026-04-22
    price $109,000 650-char remark

    Show marketing remark (650 chars)

    First time homebuyers looking for a place to call your own or a First time investor The home is truly turn-key, meaning you can move right in or start generating income immediately—no major work needed. The bungalow-style design provides a classic Detroit feel with efficient use of space, making it both inviting and easy to maintain. Located in a convenient neighborhood with access to major roads, shopping, and local amenities, this is an opportunity you don’t want to miss. Perfect for: ? First-time homebuyers ready to stop renting ? Investors looking for a cash-flowing asset ? Anyone seeking a low-maintenance, move-in-ready home

15. 2026-04-10
    listed $112,900 Active 650-char remark

    Show marketing remark (639 chars)

    First time homebuyers looking for a place to call your own or a First time investor The home is truly turn-key, meaning you can move right in or start generating income immediately - no major work needed. The bungalow-style design provides a classic Detroit feel with efficient use of space, making it both inviting and easy to maintain. Located in a convenient neighborhood with access to major roads, shopping, and local amenities, this is an opportunity you don't want to miss. Perfect for: ? First-time homebuyers ready to stop renting ? Investors looking for a cash-flowing asset ? Anyone seeking a low-maintenance, move-in-ready home

16. 2026-04-10
    listed $112,900 Active 639-char remark

    Show marketing remark (639 chars)

    First time homebuyers looking for a place to call your own or a First time investor The home is truly turn-key, meaning you can move right in or start generating income immediately - no major work needed. The bungalow-style design provides a classic Detroit feel with efficient use of space, making it both inviting and easy to maintain. Located in a convenient neighborhood with access to major roads, shopping, and local amenities, this is an opportunity you don't want to miss. Perfect for: ? First-time homebuyers ready to stop renting ? Investors looking for a cash-flowing asset ? Anyone seeking a low-maintenance, move-in-ready home

17. 2026-04-10
    historical $112,900 639-char remark

    Show marketing remark (639 chars)

    First time homebuyers looking for a place to call your own or a First time investor The home is truly turn-key, meaning you can move right in or start generating income immediately - no major work needed. The bungalow-style design provides a classic Detroit feel with efficient use of space, making it both inviting and easy to maintain. Located in a convenient neighborhood with access to major roads, shopping, and local amenities, this is an opportunity you don't want to miss. Perfect for: ? First-time homebuyers ready to stop renting ? Investors looking for a cash-flowing asset ? Anyone seeking a low-maintenance, move-in-ready home

18. 2025-01-15
    status Pending
19. 2025-01-15
    status Pending
20. 2025-01-15
    soldstatus $85,000 Closed
21. 2025-01-15
    soldstatus $85,000 Closed
22. 2025-01-14
    soldstatus $85,000
23. 2024-12-20
    historical Active Under Contract
24. 2024-12-17
    status Active
25. 2024-12-13
    historical Accepting Backup Offers
26. 2024-12-13
    historical Accepting Backup Offers
27. 2024-12-07
    status Active
28. 2024-12-07
    status Active
29. 2024-10-22
    historical Accepting Backup Offers
30. 2024-10-22
    historical Accepting Backup Offers
31. 2024-10-09
    price $84,900
32. 2024-10-08
    price $84,900
33. 2024-09-20
    listed $89,000 Active
34. 2024-09-20
    listed $89,000 Active
35. 2024-09-13
    historical $89,000
36. 2024-09-13
    historical $89,000
37. 2024-07-01
    soldstatus $32,000 Sold
38. 2024-07-01
    soldstatus $32,000 Closed
39. 2024-03-01
    price $46,000
40. 2024-02-29
    price $46,000
41. 2023-12-15
    listed $52,000 Active
42. 2023-12-15
    listed $52,000 Active
43. 2023-12-13
    historical $52,000
44. 2023-12-13
    historical $52,000
45. 2007-02-26
    soldstatus $37,000
46. 2007-02-26
    soldstatus $37,000
47. 2007-01-19
    historical
48. 2006-06-30
    listed $37,000
49. 2006-06-30
    listed $37,000

ⓘ 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: $2,021 · $168/mo
• Projected year-2 tax: $2,021 · $168/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 ≥96°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: $15,551
• − Mortgage interest: −$5,882
• − Property taxes: −$2,021
• − Insurance: −$525
• − Repairs & maintenance: −$1,244
• − Management: −$1,244
• − Depreciation: −$3,055
• Taxable income: $1,581
• Est. tax owed @ 24.0%: −$379
• After-tax cash flow: $2,753/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+194.6% since first listed

37 events — show timeline

• 2026-04-22 Price Changed $109,000 MiRealSource-MiMLS
• 2026-04-22 Price Changed $109,000 REALCOMP
• 2026-04-10 Listed $112,900 REALCOMP
• 2026-04-10 Listed $112,900 MiRealSource-MiMLS
• 2026-04-10 Coming Soon $112,900 MiRealSource-MiMLS
• 2025-01-15 Pending — MiRealSource-MiMLS
• 2025-01-15 Pending — REALCOMP
• 2025-01-15 Sold (MLS) $85,000 REALCOMP
• 2025-01-15 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2025-01-14 Sold (Public Records) $85,000 Public Records
• 2024-12-20 Contingent — REALCOMP
• 2024-12-17 Relisted — REALCOMP
• 2024-12-13 Contingent — MiRealSource-MiMLS
• 2024-12-13 Contingent — REALCOMP
• 2024-12-07 Relisted — MiRealSource-MiMLS
• 2024-12-07 Relisted — REALCOMP
• 2024-10-22 Contingent — MiRealSource-MiMLS
• 2024-10-22 Contingent — REALCOMP
• 2024-10-09 Price Changed $84,900 MiRealSource-MiMLS
• 2024-10-08 Price Changed $84,900 REALCOMP
• 2024-09-20 Listed $89,000 MiRealSource-MiMLS
• 2024-09-20 Listed $89,000 REALCOMP
• 2024-09-13 Coming Soon $89,000 MiRealSource-MiMLS
• 2024-09-13 Coming Soon $89,000 REALCOMP
• 2024-07-01 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2024-07-01 Sold (MLS) $32,000 REALCOMP
• 2024-03-01 Price Changed $46,000 MiRealSource-MiMLS
• 2024-02-29 Price Changed $46,000 REALCOMP
• 2023-12-15 Listed $52,000 MiRealSource-MiMLS
• 2023-12-15 Listed $52,000 REALCOMP
• 2023-12-13 Coming Soon $52,000 MiRealSource-MiMLS
• 2023-12-13 Coming Soon $52,000 REALCOMP
• 2007-02-26 Sold (MLS) $37,000 MiRealSource-MiMLS
• 2007-02-26 Sold (MLS) $37,000 REALCOMP
• 2007-01-19 Listing Removed — MiRealSource-MiMLS
• 2006-06-30 Listed $37,000 MiRealSource-MiMLS
• 2006-06-30 Listed $37,000 REALCOMP

Property tax history

+3.8%/yr

Latest (2025): $2,021 · -49.3% YoY. Source: county tax records.