6530 Brace St · Detroit, MI 48228

$79,500

2 bd · 1.0 ba · 732 sqft · SingleFamily public records · 47 Days on market

Built 1949 4,792 sqft lot $109/sqft · 69% above area Est $85k · 7% under ↓ 28% since listing

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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 +10.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you'll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner's needs. Don't miss this great opportunity. .. .. schedule your showing today!

Key facts

• 4,792 sq ft lot
• Built 1949
• Listed 47 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 soft (-2.3%/yr); 363 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $1,244/mo this rent would consume 49% 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 $550 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,115 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1949 — 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: 1.56% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.12%
• DSCR: 1.94
• GRM: 5.3

CMA / ARV

• ARV (median comp): $85,447
• List price: $79,500
• Delta: -6.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6803 Grandville Ave	0.36mi	2/1.0	700 (-4%)	2mo	$32,000	$46	74
7313 Grandville Ave	0.52mi	2/1.0	765 (+4%)	0mo	$70,000	$92	68
7282 Plainview Ave	0.67mi	2/1.0	730 (-0%)	1mo	$19,000	$26	68
6394 Westwood St	0.39mi	3/1.0 (+1)	770 (+5%)	2mo	$90,000	$117	66
7320 Westwood St	0.55mi	3/1.0 (+1)	738 (+1%)	2mo	$115,000	$156	66
6374 Rutland St	0.58mi	2/1.0	750 (+2%)	8mo	$95,000	$127	62
6078 Plainview Ave	0.68mi	2/1.0	700 (-4%)	1mo	$54,500	$78	60
6884 Memorial Ave	0.67mi	2/1.5	786 (+7%)	1mo	$70,000	$89	53
6816 Evergreen Ave	0.64mi	3/1.0 (+1)	768 (+5%)	7mo	$50,000	$65	51
6783 Westwood St	0.41mi	3/1.0 (+1)	836 (+14%)	4mo	$65,000	$78	48
7275 Auburn St	0.64mi	3/1.0 (+1)	803 (+10%)	5mo	$60,000	$75	45
5736 Brace St	0.57mi	3/2.0 (+1)	825 (+13%)	5mo	$90,000	$109	39

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: 10.0%
• Equity multiple: 1.38×
• Total profit: $8,468
• Equity at exit: $11,854

10-year hold

• IRR: 16.4%
• Equity multiple: 2.15×
• Total profit: $25,596
• Equity at exit: $6,874

Cash invested: $22,260 (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: 363
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$417
• Tax from tax record: −$141 /mo · $1,689/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $392

Break-even live

Break-even rent $748

Max offer price $79,500

Occupancy floor 64%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	2d	10	0.54mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	17d	1	0.81mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	0.88mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	43d	1	1.29mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	1.32mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	1d	1	1.46mi

Listing history 15 events

1. 2026-05-12
   price $79,500 766-char remark

   Show marketing remark (784 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you’ll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner’s needs. Don’t miss this great opportunity. .. .. schedule your showing today!

2. 2026-05-12
   price $79,500 784-char remark

   Show marketing remark (784 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you’ll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner’s needs. Don’t miss this great opportunity. .. .. schedule your showing today!

3. 2026-04-29
   price $79,900 766-char remark

   Show marketing remark (766 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you'll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner's needs. Don't miss this great opportunity. .. .. schedule your showing today!

4. 2026-04-28
   price $79,900 784-char remark

   Show marketing remark (784 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you’ll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner’s needs. Don’t miss this great opportunity. .. .. schedule your showing today!

5. 2026-04-21
   price $84,000 766-char remark

   Show marketing remark (766 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you'll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner's needs. Don't miss this great opportunity. .. .. schedule your showing today!

6. 2026-04-20
   price $84,000 784-char remark

   Show marketing remark (784 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you’ll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner’s needs. Don’t miss this great opportunity. .. .. schedule your showing today!

7. 2026-04-04
   listed $85,000 Active 766-char remark

   Show marketing remark (784 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you’ll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner’s needs. Don’t miss this great opportunity. .. .. schedule your showing today!

8. 2026-04-04
   listed $85,000 Active 784-char remark

   Show marketing remark (784 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you’ll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner’s needs. Don’t miss this great opportunity. .. .. schedule your showing today!

9. 2026-04-02
   historical $85,000 766-char remark

   Show marketing remark (766 chars)

   Welcome to 6530 Brace St! This charming 2-bedroom, 2-bath bungalow offers a cozy and comfortable feel, perfect for first-time homebuyers or investors alike. The home features a functional layout with spacious living areas and the added convenience of two full bathrooms. A brand new roof installed in 2024 provides extra peace of mind. Conveniently located near shopping, dining, and just a few blocks from Dearborn, you'll love the easy access to everything you need. This home also features an unfinished attic with ample space and potential to create an additional bedroom, office, bonus room, or flex space, offering an excellent opportunity for future expansion to fit the new owner's needs. Don't miss this great opportunity. .. .. schedule your showing today!

10. 2026-03-30
    historical
11. 2026-03-30
    historical
12. 2026-03-25
    price $85,000
13. 2026-03-24
    price $85,000
14. 2026-01-27
    listed $110,000 Active
15. 2026-01-26
    listed $110,000 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: $1,689 · $141/mo
• Projected year-2 tax: $1,689 · $141/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: $14,925
• − Mortgage interest: −$4,453
• − Property taxes: −$1,689
• − Insurance: −$398
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$2,313
• Taxable income: $3,684
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $3,817/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

-27.7% since first listed

15 events — show timeline

• 2026-05-12 Price Changed $79,500 MiRealSource-MiMLS
• 2026-05-12 Price Changed $79,500 REALCOMP
• 2026-04-29 Price Changed $79,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $79,900 REALCOMP
• 2026-04-21 Price Changed $84,000 MiRealSource-MiMLS
• 2026-04-20 Price Changed $84,000 REALCOMP
• 2026-04-04 Listed $85,000 MiRealSource-MiMLS
• 2026-04-04 Listed $85,000 REALCOMP
• 2026-04-02 Coming Soon $85,000 MiRealSource-MiMLS
• 2026-03-30 Listing Removed — REALCOMP
• 2026-03-30 Listing Removed — MiRealSource-MiMLS
• 2026-03-25 Price Changed $85,000 MiRealSource-MiMLS
• 2026-03-24 Price Changed $85,000 REALCOMP
• 2026-01-27 Listed $110,000 REALCOMP
• 2026-01-26 Listed $110,000 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $1,689 · +31.0% YoY. Source: county tax records.