11677 Cheyenne St · Detroit, MI 48227

$39,900

2 bd · 1.0 ba · 1,234 sqft · SingleFamily public records · 97 Days on market

Built 1940 6,098 sqft lot Est $59k · 33% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CALLING ALL INVESTOR AND FIRST TIME HOME BUYER. EARNING POTENTIAL IS GREAT WITH THIS 2 BDRM BRICK HOME LOCATED ON THE WEST SIDE OF DETROIT. SELLER IS HIGHLY MOTIVATED. PROPERTY IS CURRENTLY TENANT OCCUPIED. PLEASE DO NOT DISTURB THE TENANT. BEING SOLD AS-IS. BUYERS AGENT TO VERIFY ALL INFORMATION AND MEASUREMENTS.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1940

🏷️ Possibly a rental listed for sale. The $39,900 price doesn't fit this home's estimated sale value (~$59,232) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 22.5% 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: Rents rising fast (+5.6%/yr); 385 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• This rent runs 38% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k 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 + 5.6% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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: property tax is 4.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 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 1940 — 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: 2.93% ✓
• Cap rate: 22.47%
• Cash-on-cash: 57.77%
• DSCR: 3.57
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $59,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12096 Meyers Rd	0.40mi	3/1.0 (+1)	1,248 (+1%)	0mo	$30,000	$24	74
12026 Manor Arc	0.42mi	3/1.0 (+1)	1,200 (-3%)	8mo	$65,000	$54	64
9982 Littlefield St	0.33mi	3/1.0 (+1)	1,152 (-7%)	8mo	$47,000	$41	62
12667 Sorrento St	0.51mi	3/1.0 (+1)	1,309 (+6%)	0mo	$65,000	$50	61
12027 Manor St	0.39mi	3/1.0 (+1)	1,340 (+9%)	3mo	$86,750	$65	59
10340 Maplelawn St	0.69mi	3/2.0 (+1)	1,296 (+5%)	5mo	$27,000	$21	46
10039 Mark Twain St	0.62mi	3/1.0 (+1)	1,334 (+8%)	7mo	$73,000	$55	46
10405 Orangelawn St	0.67mi	3/1.5 (+1)	1,350 (+9%)	3mo	$7,000	$5	44
9412 Steel St	0.65mi	3/1.5 (+1)	1,353 (+10%)	7mo	$95,000	$70	41
12738 Manor	0.69mi	3/1.0 (+1)	1,348 (+9%)	8mo	$20,000	$15	41
11642 Griggs St	0.68mi	2/1.0	1,056 (-14%)	7mo	$9,000	$9	38
10300 Orangelawn St	0.74mi	3/1.0 (+1)	1,092 (-12%)	4mo	$52,000	$48	38

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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 59.7%
• Equity multiple: 3.77×
• Total profit: $30,994
• Equity at exit: $5,949

10-year hold

• IRR: 65.4%
• Equity multiple: 8.60×
• Total profit: $84,951
• Equity at exit: $3,450

Cash invested: $11,172 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$209
• Tax from tax record: −$159 /mo · $1,908/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $538

Break-even live

Break-even rent $487

Max offer price $39,900

Occupancy floor 49%

Sensitivity live

Price	-10% $675	-5% $661	+0% $538	+5% $527	+10% $515
Rent	-10% $446	-5% $492	+0% $538	+5% $584	+10% $630
Rate	-1.0pp $558	-0.5pp $548	base $538	+0.5pp $527	+1.0pp $517

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	44d	1	0.32mi
12775 Plymouth Rd Apt 11 Detroit, MI	1.0	1.0	725	$635	$0.88	44d	1	0.32mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	44d	1	0.37mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.50mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	0.50mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	44d	1	0.62mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	44d	1	0.66mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	44d	1	0.67mi
9419 Meyers Rd Detroit, MI	1.0	1.0	720	$894	$1.24	44d	1	0.68mi
9415 Meyers Rd Detroit, MI	1.0	1.0	720	$897	$1.25	44d	1	0.68mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.71mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.71mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	17d	1	0.73mi
10345 Crocuslawn Ave Unit 2 Detroit, MI	2.0	1.0	850	$950	$1.12	44d	1	0.76mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	44d	1	0.77mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	25d	1	0.79mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	44d	1	0.82mi
11411 Wyoming Ave Apt 205 Detroit, MI	1.0	1.0	800	$1,000	$1.25	11d	1	0.84mi
11411 Wyoming Ave Detroit, MI	1.0	1.0	750	$850	$1.13	25d	1	0.84mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	0.84mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	44d	1	0.84mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	0.85mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	17d	1	0.92mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	0.93mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	44d	1	0.94mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	44d	1	0.95mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	25d	1	0.97mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	17d	1	1.05mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	17d	1	1.07mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	44d	1	1.07mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	44d	1	1.10mi
9353 Kentucky St Detroit, MI	2.0	1.0	800	$999	$1.25	18d	1	1.11mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	2d	1	1.12mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	17d	1	1.12mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	1.18mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	13d	1	1.19mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	44d	1	1.23mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	1.24mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	1.26mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	44d	1	1.27mi

Listing history 14 events

1. 2024-12-17
   status Pending
2. 2023-05-05
   status Pending

   Show marketing remark (315 chars)

   CALLING ALL INVESTOR AND FIRST TIME HOME BUYER. EARNING POTENTIAL IS GREAT WITH THIS 2 BDRM BRICK HOME LOCATED ON THE WEST SIDE OF DETROIT. SELLER IS HIGHLY MOTIVATED. PROPERTY IS CURRENTLY TENANT OCCUPIED. PLEASE DO NOT DISTURB THE TENANT. BEING SOLD AS-IS. BUYERS AGENT TO VERIFY ALL INFORMATION AND MEASUREMENTS.

3. 2023-05-05
   status Pending 315-char remark

   Show marketing remark (315 chars)

   CALLING ALL INVESTOR AND FIRST TIME HOME BUYER. EARNING POTENTIAL IS GREAT WITH THIS 2 BDRM BRICK HOME LOCATED ON THE WEST SIDE OF DETROIT. SELLER IS HIGHLY MOTIVATED. PROPERTY IS CURRENTLY TENANT OCCUPIED. PLEASE DO NOT DISTURB THE TENANT. BEING SOLD AS-IS. BUYERS AGENT TO VERIFY ALL INFORMATION AND MEASUREMENTS.

4. 2023-01-27
   listed $39,900 Active

   Show marketing remark (315 chars)

   CALLING ALL INVESTOR AND FIRST TIME HOME BUYER. EARNING POTENTIAL IS GREAT WITH THIS 2 BDRM BRICK HOME LOCATED ON THE WEST SIDE OF DETROIT. SELLER IS HIGHLY MOTIVATED. PROPERTY IS CURRENTLY TENANT OCCUPIED. PLEASE DO NOT DISTURB THE TENANT. BEING SOLD AS-IS. BUYERS AGENT TO VERIFY ALL INFORMATION AND MEASUREMENTS.

5. 2023-01-27
   listed $39,900 Active 315-char remark

   Show marketing remark (315 chars)

   CALLING ALL INVESTOR AND FIRST TIME HOME BUYER. EARNING POTENTIAL IS GREAT WITH THIS 2 BDRM BRICK HOME LOCATED ON THE WEST SIDE OF DETROIT. SELLER IS HIGHLY MOTIVATED. PROPERTY IS CURRENTLY TENANT OCCUPIED. PLEASE DO NOT DISTURB THE TENANT. BEING SOLD AS-IS. BUYERS AGENT TO VERIFY ALL INFORMATION AND MEASUREMENTS.

6. 2023-01-01
   historical
7. 2022-12-31
   historical
8. 2022-10-19
   status Active
9. 2022-10-19
   status Active
10. 2022-09-01
    historical
11. 2022-06-15
    historical Accepting Backup Offers
12. 2022-06-15
    historical Accepting Backup Offers
13. 2022-06-09
    listed $39,900 Active
14. 2022-06-09
    listed $39,900 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: $1,908 · $159/mo
• Projected year-2 tax: $1,908 · $159/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 ≥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: $14,015
• − Mortgage interest: −$2,235
• − Property taxes: −$1,908
• − Insurance: −$200
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$1,161
• Taxable income: $6,270
• Est. tax owed @ 24.0%: −$1,505
• After-tax cash flow: $4,949/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

14 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-05-05 Pending — REALCOMP
• 2023-05-05 Pending — MiRealSource-MiMLS
• 2023-01-27 Listed $39,900 MiRealSource-MiMLS
• 2023-01-27 Listed $39,900 REALCOMP
• 2023-01-01 Listing Removed — MiRealSource-MiMLS
• 2022-12-31 Listing Removed — REALCOMP
• 2022-10-19 Relisted — MiRealSource-MiMLS
• 2022-10-19 Relisted — REALCOMP
• 2022-09-01 Listing Removed — MiRealSource-MiMLS
• 2022-06-15 Contingent — MiRealSource-MiMLS
• 2022-06-15 Contingent — REALCOMP
• 2022-06-09 Listed $39,900 MiRealSource-MiMLS
• 2022-06-09 Listed $39,900 REALCOMP

Property tax history

+12.0%/yr

Latest (2025): $1,908 · -54.3% YoY. Source: county tax records.