4380 Freer St · Detroit, MI 48210

$132,000

4 bd · 1.0 ba · 945 sqft · SingleFamily public records · 4 Days on market

Built 1918 3,049 sqft lot Est $92k · 44% over

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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 +24.3/30.0
• DSCR +7.9/10.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming Southwest Detroit home offering space and potential! The main level features three bedrooms, a comfortable living room, a dedicated dining area, and a functional kitchen. Upstairs, the converted attic provides two additional spacious bedrooms, creating a fertile upper- level living space. The property also includes a full basement for additional storage and utility space. Enjoy the convenience of a private driveway with alley access, making parking easy and accessible. Located in a desirable Southwest Detroit neighborhood, this home is ready for its next home owner to make it their own.

Key facts

• Private driveway
• Converted attic
• Full basement

Tags

• CONVERTED ATTIC
• PRIVATE DRIVEWAY
• FULL BASEMENT

Property features AI

Exterior

• Utilities: Public water; Natural gas
• Home design: Residential property; 1 1/2-story structure; Built in 1918; Frontage approximately 30 feet
• Construction: Aluminum exterior; Basement foundation; Below-grade area approximately 756
• Exterior features: Fenced yard; Paved street frontage

Interior

• Bedrooms: Bedroom 1 (Entry): 11 x 11, ceramic flooring; Bedroom 2 (Entry): 11 x 11, ceramic flooring; Bedroom 3 (Second): approx. 13 wide, wood flooring; Bedroom 4 (Second): 12 x 12, wood flooring
• Flooring: Ceramic flooring in multiple rooms and bathroom; Wood flooring in family room and upper-level bedrooms
• Bathrooms: 1 full bathroom (Entry level), ceramic flooring, approx. 11 x 11
• Heating & cooling: Natural gas heating
• Interior features: 6 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $132k).

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: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $913 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $54k; list at $132k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,000

Questions for the listing agent

1. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 1.10% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.66%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $91,665
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7425 Parkwood St	0.20mi	3/2.5 (-1)	976 (+3%)	14mo	$140,000	$143	63
4380 Springwells St	0.26mi	3/1.0 (-1)	1,000 (+6%)	14mo	$55,000	$55	62
4114 Central St	0.23mi	3/2.0 (-1)	1,030 (+9%)	10mo	$139,000	$135	57
4715 Lumley St	0.39mi	3/1.0 (-1)	1,076 (+14%)	1mo	$45,000	$42	53
4291 Lawndale St	0.74mi	3/1.0 (-1)	1,078 (+14%)	4mo	$105,000	$97	34

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-4,400
• Equity at exit: $19,682

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $18,053
• Equity at exit: $11,413

Cash invested: $36,960 (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 48210

• Home prices YoY: -22.3%
• Active inventory: 94
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,453 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$134 /mo · $1,607/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $267

Break-even live

Break-even rent $1,115

Max offer price $132,000

Occupancy floor 77%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2488 Woodmere St Detroit, MI	3.0	1.0	1000	$1,453	$1.45	5d	1	1.29mi

Listing history 6 events

1. 2026-06-18
   days on market $132,000 Active 4 DOM
2. 2026-06-17
   days on market $132,000 Active 3 DOM
3. 2026-06-16
   days on market $132,000 Active 2 DOM
4. 2026-06-15
   listing id $132,000 Active 1 DOM

   Show marketing remark (618 chars)

   Welcome to this charming Southwest Detroit home offering space and potential! The main level features three bedrooms, a comfortable living room, a dedicated dining area, and a functional kitchen. Upstairs, the converted attic provides two additional spacious bedrooms, creating a fertile upper- level living space. The property also includes a full basement for additional storage and utility space. Enjoy the convenience of a private driveway with alley access, making parking easy and accessible. Located in a desirable Southwest Detroit neighborhood, this home is ready for its next home owner to make it their own.

5. 2026-06-15
   remarks 618-char remark

   Show marketing remark (618 chars)

   Welcome to this charming Southwest Detroit home offering space and potential! The main level features three bedrooms, a comfortable living room, a dedicated dining area, and a functional kitchen. Upstairs, the converted attic provides two additional spacious bedrooms, creating a fertile upper- level living space. The property also includes a full basement for additional storage and utility space. Enjoy the convenience of a private driveway with alley access, making parking easy and accessible. Located in a desirable Southwest Detroit neighborhood, this home is ready for its next home owner to make it their own.

6. 2026-06-15
   listed $132,000 Active 1 DOM

   Show marketing remark (618 chars)

   Welcome to this charming Southwest Detroit home offering space and potential! The main level features three bedrooms, a comfortable living room, a dedicated dining area, and a functional kitchen. Upstairs, the converted attic provides two additional spacious bedrooms, creating a fertile upper- level living space. The property also includes a full basement for additional storage and utility space. Enjoy the convenience of a private driveway with alley access, making parking easy and accessible. Located in a desirable Southwest Detroit neighborhood, this home is ready for its next home owner to make it their own.

ⓘ 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: $1,607 · $134/mo
• Projected year-2 tax: $1,820 · $152/mo
• Expected delta: +$213/yr (+$18/mo · 13.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,436
• − Mortgage interest: −$7,394
• − Property taxes: −$1,607
• − Insurance: −$660
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$3,840
• Taxable income: $1,145
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $2,926/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): 26,925

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 20% Black 17% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 44% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 2% Danish 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 50% Arabic 10%

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: ▼ -85.82%
• Current HPI: 299.5909
• 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

+144.4% since first listed

5 events — show timeline

• 2026-06-15 Listed $132,000 MiRealSource-MiMLS
• 2026-06-15 Listed $132,000 REALCOMP
• 2026-06-14 Coming Soon $132,000 MiRealSource-MiMLS
• 2005-06-21 Sold (Public Records) $54,000 Public Records
• 2004-10-12 Sold (Public Records) $54,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,607 · -0.8% YoY. Source: county tax records.