6539 Forrer St · Detroit, MI 48228

$105,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 12 Days on market

Built 1944 5,663 sqft lot

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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 +20.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.6/10.0
• 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

Location! Location! Location. CLEAN AND COZY 2 BR RANCH STYLE HOME IN WARRENDALE AREA. LARGE EAT IN KITCHEN, OPEN FLOOR PLAN. Two and Half Garage.

Key facts

• Open floor plan
• Large eat in kitchen
• Warrendale area

Tags

• RANCH STYLE HOME
• LARGE EAT IN KITCHEN
• OPEN FLOOR PLAN
• WARRENDALE AREA

Property features AI

Finance

• Other: Lot dimensions roughly 42 x 132.5 (about 0.13 acres)

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level; Ground-level entry
• Construction: Vinyl siding; Brick/mortar foundation; Built with conventional construction
• Exterior features: Porch; Balcony; Paved road access

Interior

• Kitchen: Free-standing gas range; Range hood; Microwave; Free-standing refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Partially finished basement; 4 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 7.9% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Gardner Elementary School (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 282 students, 89% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: Rents soft (-2.3%/yr); 367 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• At $1,224/mo this rent would consume 48% 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 $726 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 20 sale attempts since 22y 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.
• Current owner paid $82k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.17% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $56,160
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6374 Rutland St	0.61mi	2/1.0	750 (+4%)	8mo	$95,000	$127	58
6800 Memorial Ave	0.57mi	2/1.0	745 (+4%)	14mo	$47,000	$63	56
6871 Winthrop St	0.28mi	2/1.0	814 (+13%)	13mo	$65,000	$80	54
6884 Memorial Ave	0.60mi	2/1.5	786 (+9%)	2mo	$70,000	$89	54
7556 Saint Marys St	0.68mi	3/1.0 (+1)	732 (+2%)	12mo	$57,000	$78	51
7782 Forrer St	0.75mi	2/1.0	700 (-3%)	21mo	$36,000	$51	43
6758 Archdale St	0.75mi	2/1.5	796 (+11%)	15mo	$35,000	$44	33

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: -11.1%
• Equity multiple: 0.61×
• Total profit: $-11,513
• Equity at exit: $15,656

10-year hold

• IRR: -7.6%
• Equity multiple: 0.59×
• Total profit: $-11,964
• Equity at exit: $9,078

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 48228

• Rents YoY: -2.3%
• Active inventory: 367
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,224 high
• Mortgage (P&I): −$551
• Tax from tax record: −$231 /mo · $2,776/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $141

Break-even live

Break-even rent $1,045

Max offer price $105,000

Occupancy floor 83%

Sensitivity live

Price	-10% $201	-5% $171	+0% $141	+5% $112	+10% $82
Rent	-10% $45	-5% $93	+0% $141	+5% $190	+10% $238
Rate	-1.0pp $194	-0.5pp $168	base $141	+0.5pp $114	+1.0pp $87

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6225 Middlesex St Unit 5 Dearborn, MI	2.0	1.0	700	$950	$1.36	6d	1	0.98mi
6225 Middlesex St Unit 5 Dearborn, MI	2.0	1.0	700	$950	$1.36	14d	1	0.98mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	4d	1	1.07mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,530	$2.29	0d	7	1.11mi
4810 Ternes St Dearborn, MI	2.0	1.0	720	$1,350	$1.88	19d	1	1.33mi
14825 Joy Rd Detroit, MI	1.0	1.0	410	$900	$2.20	46d	1	1.40mi

Listing history 50 events

1. 2026-06-21
   days on market $105,000 Active 12 DOM
2. 2026-06-18
   days on market $105,000 Active 9 DOM
3. 2026-06-17
   days on market $105,000 Active 8 DOM
4. 2026-06-16
   days on market $105,000 Active 7 DOM
5. 2026-06-15
   days on market $105,000 Active 6 DOM
6. 2026-06-13
   days on market $105,000 Active 4 DOM
7. 2026-06-13
   days on market $105,000 Active 3 DOM
8. 2026-06-10
   pricedays on marketlisting id $105,000 Active 1 DOM
9. 2026-06-09
   days on market $119,900 Active 21 DOM

   Show marketing remark (146 chars)

   Location! Location! Location. CLEAN AND COZY 2 BR RANCH STYLE HOME IN WARRENDALE AREA. LARGE EAT IN KITCHEN, OPEN FLOOR PLAN. Two and Half Garage.

10. 2026-06-08
    days on market $119,900 Active 20 DOM
11. 2026-06-07
    days on market $119,900 Active 19 DOM
12. 2026-06-04
    days on market $119,900 Active 16 DOM
13. 2026-06-03
    days on market $119,900 Active 15 DOM
14. 2026-06-02
    days on market $119,900 Active 14 DOM
15. 2026-06-01
    days on market $119,900 Active 13 DOM
16. 2026-05-31
    days on market $119,900 Active 12 DOM
17. 2026-05-19
    listed $119,900 Active 146-char remark
18. 2026-05-19
    listed $119,900 Active 146-char remark
19. 2024-10-17
    soldstatus $82,500
20. 2023-08-09
    listed $85,000
21. 2023-08-09
    historical
22. 2023-08-09
    historical
23. 2023-08-09
    listed $85,000
24. 2015-05-06
    historical
25. 2015-04-16
    historical
26. 2014-11-06
    listed $18,900 Active
27. 2014-11-06
    listed $18,900
28. 2014-05-30
    historical
29. 2014-05-30
    historical
30. 2013-12-19
    listed $12,900
31. 2013-12-19
    listed $12,900
32. 2013-12-18
    historical
33. 2013-12-18
    historical
34. 2013-09-23
    listed $25,000
35. 2013-09-23
    listed $25,000
36. 2013-09-18
    historical
37. 2013-09-18
    historical
38. 2013-08-23
    listed $25,000
39. 2013-08-23
    listed $25,000
40. 2013-05-20
    historical
41. 2013-05-20
    historical
42. 2012-11-20
    listed $13,900
43. 2012-11-20
    listed $13,900
44. 2009-06-03
    soldstatus $4,000
45. 2009-06-03
    soldstatus $4,000
46. 2009-06-03
    soldstatus $4,000
47. 2009-04-11
    historical
48. 2009-04-11
    historical
49. 2009-03-10
    listed $5,500
50. 2009-03-10
    listed $5,500

ⓘ 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: $2,776 · $231/mo
• Projected year-2 tax: $2,776 · $231/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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,691
• − Mortgage interest: −$5,882
• − Property taxes: −$2,776
• − Insurance: −$525
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$3,055
• Taxable income: $103
• Est. tax owed @ 24.0%: −$25
• After-tax cash flow: $1,673/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

+123.4% since first listed

42 events — show timeline

• 2026-06-09 Listing Removed — MiRealSource-MiMLS
• 2026-06-09 Listed $105,000 MiRealSource-MiMLS
• 2026-06-09 Listing Removed — REALCOMP
• 2026-06-09 Listed $105,000 REALCOMP
• 2026-05-19 Listed $119,900 MiRealSource-MiMLS
• 2026-05-19 Listed $119,900 REALCOMP
• 2024-10-17 Sold (Public Records) $82,500 Public Records
• 2023-08-09 Listed $85,000 MiRealSource-MiMLS
• 2023-08-09 Listing Removed — MiRealSource-MiMLS
• 2023-08-09 Listed $85,000 REALCOMP
• 2023-08-09 Listing Removed — REALCOMP
• 2015-05-06 Listing Removed — MiRealSource-MiMLS
• 2015-04-16 Listing Removed — REALCOMP
• 2014-11-06 Listed $18,900 REALCOMP
• 2014-11-06 Listed $18,900 MiRealSource-MiMLS
• 2014-05-30 Listing Removed — MiRealSource-MiMLS
• 2014-05-30 Listing Removed — REALCOMP
• 2013-12-19 Listed $12,900 MiRealSource-MiMLS
• 2013-12-19 Listed $12,900 REALCOMP
• 2013-12-18 Listing Removed — MiRealSource-MiMLS
• 2013-12-18 Listing Removed — REALCOMP
• 2013-09-23 Listed $25,000 MiRealSource-MiMLS
• 2013-09-23 Listed $25,000 REALCOMP
• 2013-09-18 Listing Removed — MiRealSource-MiMLS
• 2013-09-18 Listing Removed — REALCOMP
• 2013-08-23 Listed $25,000 MiRealSource-MiMLS
• 2013-08-23 Listed $25,000 REALCOMP
• 2013-05-20 Listing Removed — REALCOMP
• 2013-05-20 Listing Removed — MiRealSource-MiMLS
• 2012-11-20 Listed $13,900 REALCOMP
• 2012-11-20 Listed $13,900 MiRealSource-MiMLS
• 2009-06-03 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2009-06-03 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2009-06-03 Sold (MLS) $4,000 REALCOMP
• 2009-04-11 Listing Removed — MiRealSource-MiMLS
• 2009-04-11 Listing Removed — MiRealSource-MiMLS
• 2009-03-10 Listed $5,500 MiRealSource-MiMLS
• 2009-03-10 Listed $5,500 MiRealSource-MiMLS
• 2009-03-10 Listed $5,500 REALCOMP
• 2004-05-10 Listing Removed — REALCOMP
• 2004-02-10 Listed $75,900 REALCOMP
• 1998-08-10 Sold (Public Records) $47,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,776 · -1.1% YoY. Source: county tax records.