10147 Lanark st St · Detroit, MI 48224

$79,900

3 bd · 1.0 ba · 907 sqft · SingleFamily public records · 66 Days on market

Built 1949 4,356 sqft lot $88/sqft · 31% above area Est $61k · 31% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 3 Bedroom, 1 Bathroom starter home or your next investment property under $100K. This house has been updated with brand new carpet, new luxury vinyl plank flooring, fresh interior paint, new appliances, new beautiful LP siding with MiraTech trim and new windows. Fully renovated, offering immediate comfort with every detail handled for you. This home also features a specious basement offering extra storage for your needs. Conveniently situated with quick access to everyday amenities.

Key facts

• 4,356 sq ft lot
• Built 1949
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/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: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 36% of the median local income ($45k/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 $552 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 + 0.7% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y ago; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $80k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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.
8. 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.
9. 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: 1.69% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.88%
• DSCR: 2.20
• GRM: 4.9

CMA / ARV

• ARV (median comp): $61,222
• List price: $79,900
• Delta: 30.51%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6156 Lodewyck St	0.57mi	3/1.0	900 (-1%)	1mo	$51,000	$57	72
11017 Worden St	0.41mi	3/1.0	961 (+6%)	0mo	$47,500	$49	71
6106 Oldtown St	0.37mi	3/1.5	961 (+6%)	1mo	$132,000	$137	70
10945 Peerless St	0.40mi	3/1.0	964 (+6%)	2mo	$54,000	$56	70
20300 Mccormick St	0.55mi	3/1.0	940 (+4%)	1mo	$60,000	$64	68
11035 Worden St	0.42mi	3/1.0	834 (-8%)	3mo	$55,000	$66	64
5981 University Pl	0.53mi	3/1.0	964 (+6%)	3mo	$64,000	$66	62
6135 Marseilles St	0.52mi	3/1.0	988 (+9%)	0mo	$55,000	$56	60
10319 Mckinney St	0.44mi	4/1.0 (+1)	990 (+9%)	1mo	$25,000	$25	59
20244 Mccormick St	0.56mi	3/1.0	1,000 (+10%)	1mo	$75,000	$75	56
11545 Roxbury St	0.63mi	3/1.0	1,003 (+11%)	1mo	$65,000	$65	52
11640 Somerset Ave	0.60mi	3/2.0	1,028 (+13%)	0mo	$70,000	$68	46

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 1.71×
• Total profit: $15,984
• Equity at exit: $11,913

10-year hold

• IRR: 24.9%
• Equity multiple: 2.94×
• Total profit: $43,314
• Equity at exit: $6,908

Cash invested: $22,372 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,349 high
• Mortgage (P&I): −$419
• Tax from tax record: −$113 /mo · $1,350/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $501

Break-even live

Break-even rent $715

Max offer price $79,900

Occupancy floor 58%

Sensitivity live

Price	-10% $546	-5% $524	+0% $501	+5% $479	+10% $456
Rent	-10% $395	-5% $448	+0% $501	+5% $554	+10% $608
Rate	-1.0pp $541	-0.5pp $521	base $501	+0.5pp $480	+1.0pp $459

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	0.24mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.24mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.24mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.26mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.27mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.29mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.34mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.36mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.36mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	0.39mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	0.40mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.41mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	0.46mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.49mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.50mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.59mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.60mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	0.61mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.62mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.63mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.63mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	0.65mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.69mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.69mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	0.70mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	0.72mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.72mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.81mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.82mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.82mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	24d	1	0.84mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.86mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.90mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.92mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.99mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	1.05mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	44d	1	1.10mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	1.11mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	44d	1	1.11mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	1.12mi

Listing history 44 events

1. 2026-06-18
   days on market $79,900 Active 66 DOM
2. 2026-06-17
   days on market $79,900 Active 65 DOM
3. 2026-06-15
   pricedays on market $79,900 Active 63 DOM
4. 2026-06-13
   days on market $85,000 Active 61 DOM
5. 2026-06-13
   days on market $85,000 Active 60 DOM
6. 2026-06-09
   days on market $85,000 Active 57 DOM
7. 2026-06-08
   days on market $85,000 Active 56 DOM
8. 2026-06-07
   days on market $85,000 Active 55 DOM
9. 2026-06-04
   days on market $85,000 Active 52 DOM
10. 2026-06-03
    days on market $85,000 Active 51 DOM
11. 2026-06-02
    days on market $85,000 Active 50 DOM
12. 2026-06-01
    days on market $85,000 Active 49 DOM
13. 2026-05-31
    days on market $85,000 Active 48 DOM
14. 2026-05-14
    price $85,000 512-char remark

    Show marketing remark (512 chars)

    Welcome to this spacious 3 Bedroom, 1 Bathroom starter home or your next investment property under $100K. This house has been updated with brand new carpet, new luxury vinyl plank flooring, fresh interior paint, new appliances, new beautiful LP siding with MiraTech trim and new windows. Fully renovated, offering immediate comfort with every detail handled for you. This home also features a specious basement offering extra storage for your needs. Conveniently situated with quick access to everyday amenities.

15. 2026-05-14
    price $85,000 512-char remark

    Show marketing remark (512 chars)

    Welcome to this spacious 3 Bedroom, 1 Bathroom starter home or your next investment property under $100K. This house has been updated with brand new carpet, new luxury vinyl plank flooring, fresh interior paint, new appliances, new beautiful LP siding with MiraTech trim and new windows. Fully renovated, offering immediate comfort with every detail handled for you. This home also features a specious basement offering extra storage for your needs. Conveniently situated with quick access to everyday amenities.

16. 2026-04-14
    listed $95,000 Active 512-char remark

    Show marketing remark (512 chars)

    Welcome to this spacious 3 Bedroom, 1 Bathroom starter home or your next investment property under $100K. This house has been updated with brand new carpet, new luxury vinyl plank flooring, fresh interior paint, new appliances, new beautiful LP siding with MiraTech trim and new windows. Fully renovated, offering immediate comfort with every detail handled for you. This home also features a specious basement offering extra storage for your needs. Conveniently situated with quick access to everyday amenities.

17. 2026-04-14
    listed $95,000 Active 512-char remark

    Show marketing remark (512 chars)

    Welcome to this spacious 3 Bedroom, 1 Bathroom starter home or your next investment property under $100K. This house has been updated with brand new carpet, new luxury vinyl plank flooring, fresh interior paint, new appliances, new beautiful LP siding with MiraTech trim and new windows. Fully renovated, offering immediate comfort with every detail handled for you. This home also features a specious basement offering extra storage for your needs. Conveniently situated with quick access to everyday amenities.

18. 2026-04-10
    historical $95,000 512-char remark

    Show marketing remark (512 chars)

    Welcome to this spacious 3 Bedroom, 1 Bathroom starter home or your next investment property under $100K. This house has been updated with brand new carpet, new luxury vinyl plank flooring, fresh interior paint, new appliances, new beautiful LP siding with MiraTech trim and new windows. Fully renovated, offering immediate comfort with every detail handled for you. This home also features a specious basement offering extra storage for your needs. Conveniently situated with quick access to everyday amenities.

19. 2025-08-08
    soldstatus $32,500 Closed
20. 2025-08-08
    soldstatus $32,500 Closed
21. 2025-07-25
    status Pending
22. 2025-07-25
    status Pending
23. 2025-07-22
    listed $38,500 Active
24. 2025-07-22
    listed $38,500 Active
25. 2025-03-19
    historical
26. 2025-03-19
    historical
27. 2025-03-05
    price $25,000
28. 2025-03-05
    price $25,000
29. 2025-02-14
    listed $29,900 Active
30. 2025-02-14
    listed $29,900 Active
31. 2017-11-16
    soldstatus $1,091,500
32. 2010-09-02
    soldstatus $940,807
33. 2008-08-21
    soldstatus $6,000
34. 2008-04-09
    listed $7,900
35. 2005-09-08
    historical
36. 2005-06-08
    listed $78,500
37. 2005-06-06
    historical
38. 2005-03-06
    listed $78,500
39. 2001-03-16
    soldstatus $36,050
40. 2000-12-22
    listed $31,500
41. 1996-06-20
    soldstatus $35,000
42. 1996-06-11
    soldstatus $35,000
43. 1996-04-08
    historical
44. 1996-03-20
    listed $35,000

ⓘ 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: $1,350 · $113/mo
• Projected year-2 tax: $1,350 · $113/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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,191
• − Mortgage interest: −$4,476
• − Property taxes: −$1,350
• − Insurance: −$400
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$2,324
• Taxable income: $5,051
• Est. tax owed @ 24.0%: −$1,212
• After-tax cash flow: $4,801/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+142.9% since first listed

31 events — show timeline

• 2026-05-14 Price Changed $85,000 MiRealSource-MiMLS
• 2026-05-14 Price Changed $85,000 REALCOMP
• 2026-04-14 Listed $95,000 MiRealSource-MiMLS
• 2026-04-14 Listed $95,000 REALCOMP
• 2026-04-10 Coming Soon $95,000 MiRealSource-MiMLS
• 2025-08-08 Sold (MLS) $32,500 REALCOMP
• 2025-08-08 Sold (MLS) $32,500 MiRealSource-MiMLS
• 2025-07-25 Pending — REALCOMP
• 2025-07-25 Pending — MiRealSource-MiMLS
• 2025-07-22 Listed $38,500 REALCOMP
• 2025-07-22 Listed $38,500 MiRealSource-MiMLS
• 2025-03-19 Listing Removed — MiRealSource-MiMLS
• 2025-03-19 Listing Removed — REALCOMP
• 2025-03-05 Price Changed $25,000 MiRealSource-MiMLS
• 2025-03-05 Price Changed $25,000 REALCOMP
• 2025-02-14 Listed $29,900 REALCOMP
• 2025-02-14 Listed $29,900 MiRealSource-MiMLS
• 2017-11-16 Sold (Public Records) $1,091,500 Public Records
• 2010-09-02 Sold (Public Records) $940,807 Public Records
• 2008-08-21 Sold (MLS) $6,000 REALCOMP
• 2008-04-09 Listed $7,900 REALCOMP
• 2005-09-08 Listing Removed — REALCOMP
• 2005-06-08 Listed $78,500 REALCOMP
• 2005-06-06 Listing Removed — REALCOMP
• 2005-03-06 Listed $78,500 REALCOMP
• 2001-03-16 Sold (MLS) $36,050 REALCOMP
• 2000-12-22 Listed $31,500 REALCOMP
• 1996-06-20 Sold (Public Records) $35,000 Public Records
• 1996-06-11 Sold (MLS) $35,000 MiRealSource-MiMLS
• 1996-04-08 Listing Removed — MiRealSource-MiMLS
• 1996-03-20 Listed $35,000 MiRealSource-MiMLS

Property tax history

+13.8%/yr

Latest (2025): $1,350 · +77.6% YoY. Source: county tax records.