24806 Frisbee St · Detroit, MI 48219

$69,900

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 26 Days on market

Built 1948 4,792 sqft lot Est $105k · 33% under

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing opportunity on this 3 bedroom Detroit ranch! Almost 1000 square feet. Spacious yard and features a detached garage. Sold as is. Buyer and agent to verify all information.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1948

Property features AI

Finance

• Other: Subdivision: HITCHMANS THOMAS HOMECROFT; Cross street near Five Points Street and Telegraph Road; Directions available
• Financial info: Tax information not included
• HOA & community: HOA information not provided

Exterior

• Parking: Detached 1-car garage
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Asphalt construction materials; Brick/mortar foundation; Built year not provided
• Exterior features: Paved road access; Lot approximately 0.11 acres (44 x 112.01)

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms: information not provided
• Flooring: Flooring details not provided
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; 3 total rooms
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 10.1% 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 rising fast (+8.0%/yr); 308 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 ($44k/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 $483 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 + 8.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 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 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 1.85% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.04%
• DSCR: 2.47
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $104,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19848 Winston St	0.19mi	3/1.5	1,032 (+4%)	2mo	$92,000	$89	80
19371 Winston St	0.24mi	3/1.5	960 (-3%)	5mo	$120,200	$125	78
19978 Grandview St	0.21mi	3/1.0	939 (-5%)	8mo	$100,000	$106	75
19919 S Five Points St S	0.10mi	3/1.0	1,092 (+10%)	3mo	$78,000	$71	75
19309 Lenore	0.37mi	3/1.0	920 (-7%)	2mo	$86,900	$94	70
20403 Grandview St	0.33mi	3/1.0	908 (-8%)	6mo	$83,000	$91	66
18810 Olympia	0.67mi	3/1.0	1,002 (+1%)	3mo	$185,000	$185	64
18682 Sumner	0.69mi	3/1.0	969 (-2%)	2mo	$137,000	$141	63
18629 Brady	0.66mi	3/1.0	1,030 (+4%)	0mo	$126,000	$122	62
20531 Lennane	0.51mi	3/1.0	922 (-7%)	7mo	$140,000	$152	59
18614 Winston St	0.69mi	3/1.0	1,064 (+8%)	5mo	$110,000	$103	51
18671 Five Points St	0.62mi	2/1.0 (-1)	876 (-11%)	2mo	$72,000	$82	45

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 33.8%
• Equity multiple: 2.53×
• Total profit: $29,847
• Equity at exit: $10,422

10-year hold

• IRR: 43.3%
• Equity multiple: 6.18×
• Total profit: $101,374
• Equity at exit: $6,044

Cash invested: $19,572 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 308
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,294 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $539

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 53%

Sensitivity live

Price	-10% $587	-5% $563	+0% $539	+5% $515	+10% $491
Rent	-10% $437	-5% $488	+0% $539	+5% $590	+10% $641
Rate	-1.0pp $574	-0.5pp $557	base $539	+0.5pp $521	+1.0pp $502

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	6d	1	0.28mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	12d	1	0.28mi
20410 Five Points St Redford, MI	3.0	1.0	950	$1,600	$1.68	6d	1	0.33mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	45d	1	0.56mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	14d	1	0.56mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	0.56mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	0.57mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	45d	3	0.58mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	0.58mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	0.59mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	45d	2	0.73mi
25400 Basin St Southfield, MI	1.0–2.0	1.0	825	$1,400	$1.70	0d	12	0.77mi
25740 Shiawassee St Southfield, MI	1.0–2.0	1.0	850	$1,253	$1.47	45d	10	0.77mi
23411 W Eight Mile Rd Detroit, MI	1.0–2.0	1.0	742	$1,000	$1.35	45d	1	0.86mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	45d	1	0.90mi
19800 Berg Rd Detroit, MI	3.0	1.0	1000	$1,550	$1.55	18d	1	0.98mi
22649 Frisbee St Detroit, MI	3.0	1.0	1100	$1,495	$1.36	45d	1	1.01mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	45d	1	1.16mi
26539 Clarita Redford, MI	3.0	1.5	931	$1,875	$2.01	25d	1	1.16mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	25d	1	1.24mi
20516 Denby Redford, MI	4.0	1.5	950	$1,800	$1.89	19d	1	1.26mi
22238 Pembroke Ave Detroit, MI	3.0	1.5	1100	$1,500	$1.36	45d	1	1.29mi
20524 Indian Redford, MI	3.0	1.0	988	$1,600	$1.62	25d	1	1.33mi
19928 Houghton St Detroit, MI	3.0	1.0	880	$1,495	$1.70	12d	1	1.35mi
19354 Seminole Redford, MI	3.0	1.0	1050	$1,450	$1.38	25d	1	1.46mi
20555 Lahser Rd Detroit, MI	1.0–2.0	1.0	737	$975	$1.32	45d	2	1.47mi

Listing history 19 events

1. 2026-06-21
   days on market $69,900 Active 26 DOM
2. 2026-06-18
   days on market $69,900 Active 23 DOM
3. 2026-06-17
   days on market $69,900 Active 22 DOM
4. 2026-06-15
   days on market $69,900 Active 20 DOM
5. 2026-06-13
   days on market $69,900 Active 18 DOM
6. 2026-06-13
   days on marketlisting id $69,900 Active 17 DOM
7. 2026-06-10
   listing id $69,900 Active 14 DOM
8. 2026-06-09
   days on market $69,900 Active 14 DOM
9. 2026-06-08
   days on market $69,900 Active 13 DOM
10. 2026-06-07
    days on market $69,900 Active 12 DOM
11. 2026-06-04
    days on market $69,900 Active 9 DOM
12. 2026-06-03
    days on market $69,900 Active 8 DOM
13. 2026-06-02
    days on market $69,900 Active 7 DOM
14. 2026-06-01
    days on market $69,900 Active 6 DOM
15. 2026-05-31
    days on market $69,900 Active 5 DOM
16. 2026-05-26
    listed $69,900 Active

    Show marketing remark (178 chars)

    Amazing opportunity on this 3 bedroom Detroit ranch! Almost 1000 square feet. Spacious yard and features a detached garage. Sold as is. Buyer and agent to verify all information.

17. 2026-05-26
    listed $69,900 Active 178-char remark

    Show marketing remark (178 chars)

    Amazing opportunity on this 3 bedroom Detroit ranch! Almost 1000 square feet. Spacious yard and features a detached garage. Sold as is. Buyer and agent to verify all information.

18. 2006-05-08
    soldstatus $105,000
19. 1994-10-06
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,522
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$2,033
• Taxable income: $5,692
• Est. tax owed @ 24.0%: −$1,366
• After-tax cash flow: $5,100/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

+249.5% since first listed

4 events — show timeline

• 2026-05-26 Listed $69,900 REALCOMP
• 2026-05-26 Listed $69,900 MiRealSource-MiMLS
• 2006-05-08 Sold (Public Records) $105,000 Public Records
• 1994-10-06 Sold (Public Records) $20,000 Public Records

Property tax history

-8.6%/yr

Latest (2025): $27 · -41.2% YoY. Source: county tax records.