9364 Ohio St · Detroit, MI 48204

$49,900

2 bd · 1.0 ba · 735 sqft · Townhouse public records · 35 Days on market

Built 1942 4,356 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

Subject to probate court approval

Key facts

• 4,356 sq ft lot
• Built 1942
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($817 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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: 244 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 81% 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).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y 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 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.64% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.84%
• DSCR: 2.15
• GRM: 5.1

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: 43.8%
• Equity multiple: 4.32×
• Total profit: $46,349
• Equity at exit: $44,954

10-year hold

• IRR: 37.9%
• Equity multiple: 9.69×
• Total profit: $121,448
• Equity at exit: $96,945

Cash invested: $13,972 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $817 high
• Mortgage (P&I): −$262
• Tax from tax record: −$62 /mo · $743/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $301

Break-even live

Break-even rent $436

Max offer price $49,900

Occupancy floor 58%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8751 Elmira St Unit 1 Detroit, MI	1.0	1.0	500	$799	$1.60	44d	1	0.50mi
11411 Wyoming Ave Detroit, MI	1.0	1.0	750	$850	$1.13	24d	1	0.58mi
11411 Wyoming Ave Unit 102 Detroit, MI	1.0	1.0	600	$925	$1.54	44d	1	0.58mi
10201 Plymouth Rd Apt 6 Detroit, MI	1.0	1.0	520	$605	$1.16	44d	1	0.70mi
10201 Plymouth Rd Apt 10 Detroit, MI	1.0	1.0	502	$595	$1.19	44d	1	0.70mi
10201 Plymouth Rd Apt 5 Detroit, MI	1.0	1.0	502	$575	$1.15	44d	1	0.70mi
9415 Meyers Rd Detroit, MI	1.0	1.0	720	$897	$1.25	44d	1	0.78mi
9419 Meyers Rd Detroit, MI	1.0	1.0	720	$894	$1.24	44d	1	0.78mi
7405 Garden St Unit 6 Detroit, MI	1.0	1.0	650	$795	$1.22	18d	1	0.94mi
12775 Plymouth Rd Apt 11 Detroit, MI	1.0	1.0	725	$635	$0.88	44d	1	0.99mi
12775 Plymouth Rd Apt 23 Detroit, MI	1.0	1.0	650	$605	$0.93	44d	1	0.99mi
8864 Schaefer Hwy Detroit, MI	1.0	1.0	450	$838	$1.86	44d	1	1.29mi
13310 Plymouth Rd Unit 05 Detroit, MI	1.0	1.0	650	$595	$0.92	44d	1	1.31mi
13310 Plymouth Rd Unit 1 Detroit, MI	1.0	1.0	650	$645	$0.99	44d	1	1.31mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	18d	1	1.34mi
12728 Monica St Unit 2 Detroit, MI	1.0	1.0	620	$750	$1.21	44d	1	1.36mi

Listing history 16 events

1. 2025-12-18
   status Pending 33-char remark

   Show marketing remark (33 chars)

   Subject to probate court approval

2. 2025-12-18
   status Pending

   Show marketing remark (33 chars)

   Subject to probate court approval

3. 2025-11-13
   listed $49,900 Active

   Show marketing remark (33 chars)

   Subject to probate court approval

4. 2025-11-13
   listed $49,900 Active 33-char remark

   Show marketing remark (33 chars)

   Subject to probate court approval

5. 2025-10-16
   historical
6. 2025-10-16
   historical
7. 2025-05-01
   listed $49,900 Active
8. 2025-05-01
   listed $49,900 Active
9. 2025-04-04
   historical
10. 2025-03-04
    status Active
11. 2025-03-04
    status Active
12. 2024-12-27
    status Pending
13. 2024-12-27
    status Pending
14. 2024-12-27
    historical
15. 2024-10-04
    listed $49,900 Active
16. 2024-10-04
    listed $49,900 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: $743 · $62/mo
• Projected year-2 tax: $756 · $63/mo
• Expected delta: +$13/yr (+$1/mo · 1.7%)

ⓘ 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 ≥97°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: $9,801
• − Mortgage interest: −$2,795
• − Property taxes: −$743
• − Insurance: −$250
• − Repairs & maintenance: −$784
• − Management: −$784
• − Depreciation: −$1,452
• Taxable income: $2,993
• Est. tax owed @ 24.0%: −$718
• After-tax cash flow: $2,892/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+0.0% since first listed

16 events — show timeline

• 2025-12-18 Pending — MiRealSource-MiMLS
• 2025-12-18 Pending — REALCOMP
• 2025-11-13 Listed $49,900 REALCOMP
• 2025-11-13 Listed $49,900 MiRealSource-MiMLS
• 2025-10-16 Listing Removed — MiRealSource-MiMLS
• 2025-10-16 Listing Removed — REALCOMP
• 2025-05-01 Listed $49,900 REALCOMP
• 2025-05-01 Listed $49,900 MiRealSource-MiMLS
• 2025-04-04 Listing Removed — MiRealSource-MiMLS
• 2025-03-04 Relisted — MiRealSource-MiMLS
• 2025-03-04 Relisted — REALCOMP
• 2024-12-27 Pending — MiRealSource-MiMLS
• 2024-12-27 Pending — REALCOMP
• 2024-12-27 Listing Removed — REALCOMP
• 2024-10-04 Listed $49,900 REALCOMP
• 2024-10-04 Listed $49,900 MiRealSource-MiMLS

Property tax history

-2.2%/yr

Latest (2025): $743 · -54.5% YoY. Source: county tax records.