2503 Dickerson St · Detroit, MI 48215

$150,000

4 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 93 Days on market

Built 1920 4,356 sqft lot $134/sqft · 292% above area ↓ 23% since listing

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Why this score? — see what drove the D+ 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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +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
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today - this one won't last!

Key facts

• 4,356 sq ft lot
• Built 1920
• Listed 93 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (0.2% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 10.2% 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: 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: 137 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• It's been on market 93 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 8.3

CMA / ARV

• ARV (median comp): $57,355
• List price: $150,000
• Delta: 161.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3111 Lenox St	0.39mi	3/1.0 (-1)	1,200 (+8%)	9mo	$25,000	$21	57
4194 Algonquin St	0.72mi	3/1.0 (-1)	1,040 (-7%)	5mo	$69,000	$66	46
3419 Algonquin St	0.42mi	3/1.0 (-1)	1,211 (+8%)	22mo	$40,000	$33	43
3958 Lenox St	0.60mi	3/1.0 (-1)	1,024 (-8%)	14mo	$60,000	$59	42
4133 Lenox St	0.65mi	3/1.0 (-1)	968 (-13%)	5mo	$18,101	$19	39
2193 Alter Rd	0.73mi	3/1.0 (-1)	1,061 (-5%)	17mo	$37,500	$35	39
3416 Algonquin St	0.41mi	3/1.0 (-1)	967 (-13%)	21mo	$90,000	$93	36

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-11,098
• Equity at exit: $22,365

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $7,302
• Equity at exit: $12,969

Cash invested: $42,000 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,497 high
• Mortgage (P&I): −$787
• Tax from tax record: −$126 /mo · $1,512/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $208

Break-even live

Break-even rent $1,234

Max offer price $150,000

Occupancy floor 81%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1367 Wayburn St Unit 1 Grosse Pointe Park, MI	3.0	1.0	816	$1,250	$1.53	44d	1	0.80mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	24d	1	0.82mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	44d	1	0.87mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	44d	1	0.90mi
1042 Wayburn St Grosse Pointe Park, MI	3.0	1.0	1000	$1,575	$1.57	5d	1	0.93mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	1.05mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	24d	1	1.10mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	22d	1	1.10mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.28mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.39mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	44d	1	1.49mi

Listing history 33 events

1. 2026-06-18
   days on market $150,000 Active 93 DOM
2. 2026-06-17
   days on market $150,000 Active 92 DOM
3. 2026-06-15
   days on market $150,000 Active 90 DOM
4. 2026-06-13
   days on market $150,000 Active 88 DOM
5. 2026-06-13
   days on market $150,000 Active 87 DOM
6. 2026-06-09
   days on market $150,000 Active 84 DOM
7. 2026-06-08
   days on market $150,000 Active 83 DOM
8. 2026-06-07
   days on market $150,000 Active 82 DOM
9. 2026-06-04
   days on market $150,000 Active 79 DOM
10. 2026-06-03
    days on market $150,000 Active 78 DOM
11. 2026-06-01
    days on market $150,000 Active 76 DOM
12. 2026-05-31
    days on market $150,000 Active 75 DOM
13. 2026-05-13
    price $150,000 718-char remark

    Show marketing remark (718 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today - this one won't last!

14. 2026-05-12
    price $150,000 731-char remark

    Show marketing remark (731 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today — this one won’t last!

15. 2026-04-30
    price $160,000 718-char remark

    Show marketing remark (731 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today — this one won’t last!

16. 2026-04-30
    price $160,000 731-char remark

    Show marketing remark (731 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today — this one won’t last!

17. 2026-03-18
    listed $170,000 Active 718-char remark

    Show marketing remark (731 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today — this one won’t last!

18. 2026-03-18
    listed $170,000 Active 731-char remark

    Show marketing remark (731 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today — this one won’t last!

19. 2026-03-13
    historical $170,000 718-char remark

    Show marketing remark (718 chars)

    This beautifully renovated 4-bedroom, 2.5-bath Detroit home is a true gem offering modern living in a rapidly growing neighborhood just minutes from Grosse Pointe. Step inside to find a bright, open layout featuring brand-new flooring, a stylish kitchen with updated cabinetry. Enjoy the comfort of a spacious finished basement, perfect for a home office, family room, or guest suite. All bathrooms have been fully updated with sleek finishes. Additional highlights include: Brand-new mechanicals New windows, Fenced front and backyard Finished basement Whether you're a first-time buyer or investor, this home is move-in ready and offers outstanding value. Schedule your private showing today - this one won't last!

20. 2025-11-27
    historical
21. 2025-11-27
    historical
22. 2025-11-07
    status Active
23. 2025-11-06
    historical
24. 2025-11-04
    price $160,000
25. 2025-11-03
    price $160,000
26. 2025-09-05
    listed $175,000 Active
27. 2025-09-05
    listed $175,000 Active
28. 2025-09-03
    historical
29. 2025-09-03
    historical
30. 2025-08-06
    price $185,000
31. 2025-08-05
    price $185,000
32. 2025-07-25
    listed $195,000 Active
33. 2025-07-25
    listed $195,000 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: $1,512 · $126/mo
• Projected year-2 tax: $1,911 · $159/mo
• Expected delta: +$399/yr (+$33/mo · 26.4%)

ⓘ 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: $17,966
• − Mortgage interest: −$8,402
• − Property taxes: −$1,512
• − Insurance: −$750
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − Depreciation: −$4,364
• Taxable income: $63
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $2,476/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -60.84%
• Current HPI: 191.0405
• 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

-23.1% since first listed

21 events — show timeline

• 2026-05-13 Price Changed $150,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $150,000 REALCOMP
• 2026-04-30 Price Changed $160,000 MiRealSource-MiMLS
• 2026-04-30 Price Changed $160,000 REALCOMP
• 2026-03-18 Listed $170,000 MiRealSource-MiMLS
• 2026-03-18 Listed $170,000 REALCOMP
• 2026-03-13 Coming Soon $170,000 MiRealSource-MiMLS
• 2025-11-27 Listing Removed — REALCOMP
• 2025-11-27 Listing Removed — MiRealSource-MiMLS
• 2025-11-07 Relisted — REALCOMP
• 2025-11-06 Listing Removed — REALCOMP
• 2025-11-04 Price Changed $160,000 MiRealSource-MiMLS
• 2025-11-03 Price Changed $160,000 REALCOMP
• 2025-09-05 Listed $175,000 REALCOMP
• 2025-09-05 Listed $175,000 MiRealSource-MiMLS
• 2025-09-03 Listing Removed — REALCOMP
• 2025-09-03 Listing Removed — MiRealSource-MiMLS
• 2025-08-06 Price Changed $185,000 MiRealSource-MiMLS
• 2025-08-05 Price Changed $185,000 REALCOMP
• 2025-07-25 Listed $195,000 REALCOMP
• 2025-07-25 Listed $195,000 MiRealSource-MiMLS

Property tax history

+12.0%/yr

Latest (2025): $1,512 · +197.3% YoY. Source: county tax records.