8573 E Outer Dr · Detroit, MI 48213

$115,000

3 bd · 1.0 ba · 1,319 sqft · SingleFamily public records · 3 Days on market

Built 1952 6,098 sqft lot Est $88k · 30% 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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +6.7/10.0
• 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

OPORTUNITY!!! NEW on the market this gem is in a perfect location. This nice brick bungalow is located in a great area just on Outer Dr and near to main streets, schools, big and important stores, and shopping centers. This is an excellent property for first-time buyers, or anyone who would like to take the opportunity to get this house and make it their home. You will find a nice size living room, dining room, a gorgeous remodeled kitchen, 2 bedrooms and 1 full bath in the first floor, a master nice bedroom upstairs, basement, driveway and detached garage for 2 vehicle. Furnace and HWT in working conditions (not currently installed in the house). No seller financing.

Key facts

• Near schools
• Brick bungalow
• Near main streets

Tags

• BRICK BUNGALOW
• REMODELED KITCHEN
• DETACHED GARAGE
• NEAR MAIN STREETS
• NEAR SCHOOLS
• NEAR SHOPPING CENTERS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick exterior; Faces unspecified
• Construction: Built with brick construction; Block foundation; Asphalt roof
• Exterior features: Front porch; Paved road access

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 6 total rooms; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).

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: 190 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,349/mo this rent would consume 48% of the median local household income ($34k/yr) (locally 1202% 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 $795 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 3 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1952 — 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. 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.
6. 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.
7. 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: 9.23%
• Cash-on-cash: 10.50%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $88,373
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12304 Rosemary St	0.06mi	3/1.5	1,480 (+12%)	6mo	$22,000	$15	70
12328 Longview St	0.33mi	4/1.0 (+1)	1,400 (+6%)	1mo	$85,000	$61	68
11833 Wilfred St	0.41mi	4/1.5 (+1)	1,340 (+2%)	8mo	$100,000	$75	65
12737 Promenade St	0.31mi	4/2.0 (+1)	1,440 (+9%)	7mo	$50,000	$35	56
11091 Wilshire Dr	0.45mi	2/1.5 (-1)	1,205 (-9%)	3mo	$15,000	$12	55
12019 Sanford St	0.49mi	3/1.0	1,149 (-13%)	2mo	$31,500	$27	54
13334 Elmdale St	0.72mi	3/1.0	1,221 (-7%)	3mo	$89,254	$73	51
13001 Promenade St	0.42mi	3/1.0	1,124 (-15%)	6mo	$73,800	$66	50
13312 Jane St	0.69mi	3/1.0	1,190 (-10%)	6mo	$124,000	$104	47
13124 Flanders St	0.60mi	3/2.0	1,150 (-13%)	0mo	$115,000	$100	46
13423 Kilbourne St	0.70mi	3/1.5	1,450 (+10%)	8mo	$113,000	$78	42
12798 Corbett St	0.58mi	3/1.5	1,124 (-15%)	7mo	$75,000	$67	41

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-682
• Equity at exit: $17,147

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $22,562
• Equity at exit: $9,943

Cash invested: $32,200 (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 48213

• Active inventory: 190
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,349 high
• Mortgage (P&I): −$603
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $282

Break-even live

Break-even rent $993

Max offer price $115,000

Occupancy floor 74%

Sensitivity live

Price	-10% $347	-5% $314	+0% $282	+5% $249	+10% $217
Rent	-10% $175	-5% $228	+0% $282	+5% $335	+10% $388
Rate	-1.0pp $340	-0.5pp $311	base $282	+0.5pp $252	+1.0pp $222

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	0.22mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	0.34mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	0.34mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	0.42mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	0.42mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	0.54mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	0.56mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.57mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.59mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.67mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.76mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	0.82mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	0.84mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.90mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.00mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	1.18mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	1.19mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	1.20mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.23mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	1.27mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.31mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.39mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	1.43mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.44mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	1.45mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.46mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.49mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.49mi

Listing history 4 events

1. 2026-06-18
   days on market $115,000 Active 3 DOM
2. 2026-06-17
   days on market $115,000 Active 2 DOM
3. 2026-06-16
   remarks 676-char remark
4. 2026-06-16
   listed $115,000 Active 1 DOM

ⓘ 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: $1,599 · $133/mo
• Projected year-2 tax: $1,685 · $140/mo
• Expected delta: +$86/yr (+$7/mo · 5.4%)

ⓘ 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: $16,191
• − Mortgage interest: −$6,442
• − Property taxes: −$1,599
• − Insurance: −$575
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$3,345
• Taxable income: $1,639
• Est. tax owed @ 24.0%: −$393
• After-tax cash flow: $2,987/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

+109.1% since first listed

4 events — show timeline

• 2026-06-15 Listed $115,000 REALCOMP
• 2026-06-15 Listed $115,000 MiRealSource-MiMLS
• 2025-05-02 Sold (Public Records) $110,000 Public Records
• 2018-11-20 Sold (Public Records) $55,000 Public Records

Property tax history

-4.7%/yr

Latest (2025): $1,599 · -30.8% YoY. Source: county tax records.