8869 Manor St · Detroit, MI 48204

$79,000

4 bd · 1.0 ba · 1,294 sqft · SingleFamily public records · 408 Days on market

Built 1940 4,356 sqft lot $61/sqft · 15% above area Est $69k · 15% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.7/15.0

Listing remarks MLS

Four Bedroom Brick Bungalow, Dining Room, with a fireplace in the Living Room. Home is in good condition and will be amazing with more upgrades. Purchase for yourself or keep is a rental. Current tenants would like to stay. Long term tenants have been in the home for 7 years and are paying a $1,000 a month. Both Roof and water heater are only a few years young. Home is in a decent area just outside of the Aviation Subdivision. Minutes away from Dearborn, Fairlane mall, Restaurants, Major Freeways, and Shopping. Seller is eager to sell, has a unique business opportunity just looking for a strong offer. Do not disturb tenants. 24 hours notice show.

Key facts

• Brick bungalow
• Fairlane mall
• Restaurants

Tags

• BRICK BUNGALOW
• FIREPLACE IN LIVING ROOM
• ROOF AND WATER HEATER
• MINUTES AWAY FROM DEARBORN
• FAIRLANE MALL
• RESTAURANTS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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: 244 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $1,406/mo this rent would consume 49% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($546 loan paydown + $8k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 408 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago 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 $3k; list at $79k implies a 2533% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 408 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.78% ✓
• Cap rate: 14.91%
• Cash-on-cash: 30.76%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $68,658
• List price: $79,000
• Delta: 15.06%
• 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
10327 Kramer St	0.24mi	3/1.5 (-1)	1,273 (-2%)	0mo	$133,770	$105	79
9206 Pinehurst St	0.21mi	3/1.5 (-1)	1,308 (+1%)	3mo	$45,000	$34	78
9145 Pinehurst St	0.15mi	3/1.5 (-1)	1,240 (-4%)	5mo	$66,000	$53	75
9119 Littlefield St	0.45mi	3/1.0 (-1)	1,298 (+0%)	2mo	$60,000	$46	72
8130 Ward St	0.53mi	3/1.0 (-1)	1,278 (-1%)	1mo	$157,000	$123	67
8999 Griggs St	0.27mi	3/2.0 (-1)	1,196 (-8%)	0mo	$190,000	$159	66
8590 Littlefield St	0.43mi	3/1.5 (-1)	1,218 (-6%)	1mo	$100,000	$82	62
5801 Oakman Blvd	0.28mi	4/1.5	1,451 (+12%)	5mo	$160,000	$110	60
10405 Orangelawn St	0.64mi	3/1.5 (-1)	1,350 (+4%)	3mo	$7,000	$5	54
10340 Maplelawn St	0.73mi	3/2.0 (-1)	1,296 (+0%)	5mo	$27,000	$21	53
9180 Hartwell St	0.50mi	3/1.5 (-1)	1,174 (-9%)	5mo	$62,000	$53	50
8029 Hartwell St	0.73mi	3/1.5 (-1)	1,389 (+7%)	2mo	$165,000	$119	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.7%
• Equity multiple: 4.58×
• Total profit: $79,157
• Equity at exit: $71,169

10-year hold

• IRR: 41.5%
• Equity multiple: 10.26×
• Total profit: $204,745
• Equity at exit: $153,480

Cash invested: $22,120 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$414
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $567

Break-even live

Break-even rent $688

Max offer price $79,000

Occupancy floor 55%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	43d	1	0.19mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	43d	1	0.44mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	43d	1	0.48mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	43d	1	0.56mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	43d	1	0.72mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	1d	1	0.77mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	16d	1	0.82mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	0.83mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	43d	1	1.18mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	43d	1	1.21mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	43d	1	1.24mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.30mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	2d	1	1.35mi
8047 Robson St Detroit, MI	3.0	2.0	1184	$1,200	$1.01	43d	1	1.38mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	16d	1	1.41mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	43d	1	1.42mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	43d	1	1.44mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	1.45mi
8331 Whitcomb St Detroit, MI	4.0	1.0	1342	$1,350	$1.01	22d	1	1.47mi

Listing history 24 events

1. 2026-06-18
   days on market $79,000 Active 408 DOM
2. 2026-06-17
   days on market $79,000 Active 407 DOM
3. 2026-06-15
   days on market $79,000 Active 405 DOM
4. 2026-06-13
   days on market $79,000 Active 403 DOM
5. 2026-06-13
   days on market $79,000 Active 402 DOM
6. 2026-06-09
   days on market $79,000 Active 399 DOM
7. 2026-06-08
   days on market $79,000 Active 398 DOM
8. 2026-06-07
   days on market $79,000 Active 397 DOM
9. 2026-06-04
   days on market $79,000 Active 394 DOM
10. 2026-06-03
    days on market $79,000 Active 393 DOM
11. 2026-06-01
    days on market $79,000 Active 391 DOM
12. 2026-05-31
    days on market $79,000 Active 390 DOM
13. 2025-05-06
    listed $79,000 Active 654-char remark

    Show marketing remark (654 chars)

    Four Bedroom Brick Bungalow, Dining Room, with a fireplace in the Living Room. Home is in good condition and will be amazing with more upgrades. Purchase for yourself or keep is a rental. Current tenants would like to stay. Long term tenants have been in the home for 7 years and are paying a $1,000 a month. Both Roof and water heater are only a few years young. Home is in a decent area just outside of the Aviation Subdivision. Minutes away from Dearborn, Fairlane mall, Restaurants, Major Freeways, and Shopping. Seller is eager to sell, has a unique business opportunity just looking for a strong offer. Do not disturb tenants. 24 hours notice show.

14. 2025-05-06
    listed $79,000 Active 654-char remark

    Show marketing remark (654 chars)

    Four Bedroom Brick Bungalow, Dining Room, with a fireplace in the Living Room. Home is in good condition and will be amazing with more upgrades. Purchase for yourself or keep is a rental. Current tenants would like to stay. Long term tenants have been in the home for 7 years and are paying a $1,000 a month. Both Roof and water heater are only a few years young. Home is in a decent area just outside of the Aviation Subdivision. Minutes away from Dearborn, Fairlane mall, Restaurants, Major Freeways, and Shopping. Seller is eager to sell, has a unique business opportunity just looking for a strong offer. Do not disturb tenants. 24 hours notice show.

15. 2023-07-12
    status Pending
16. 2023-07-12
    historical
17. 2023-07-12
    historical
18. 2023-07-10
    price $59,999
19. 2023-07-01
    listed $64,999 Active
20. 2023-07-01
    listed $59,999
21. 2008-09-30
    soldstatus $3,000
22. 2008-06-10
    listed $3,000
23. 1998-06-23
    soldstatus $15,000
24. 1991-12-20
    soldstatus $15,000

ⓘ 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: $1,157 · $96/mo
• Projected year-2 tax: $1,187 · $99/mo
• Expected delta: +$30/yr (+$2/mo · 2.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,870
• − Mortgage interest: −$4,425
• − Property taxes: −$1,157
• − Insurance: −$395
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$2,298
• Taxable income: $5,895
• Est. tax owed @ 24.0%: −$1,415
• After-tax cash flow: $5,389/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+426.7% since first listed

12 events — show timeline

• 2025-05-06 Listed $79,000 REALCOMP
• 2025-05-06 Listed $79,000 MiRealSource-MiMLS
• 2023-07-12 Pending — MiRealSource-MiMLS
• 2023-07-12 Listing Removed — REALCOMP
• 2023-07-12 Listing Removed — MiRealSource-MiMLS
• 2023-07-10 Price Changed $59,999 MiRealSource-MiMLS
• 2023-07-01 Listed $59,999 REALCOMP
• 2023-07-01 Listed $64,999 MiRealSource-MiMLS
• 2008-09-30 Sold (MLS) $3,000 REALCOMP
• 2008-06-10 Listed $3,000 REALCOMP
• 1998-06-23 Sold (Public Records) $15,000 Public Records
• 1991-12-20 Sold (Public Records) $15,000 Public Records

Property tax history

-4.3%/yr

Latest (2025): $1,157 · -53.9% YoY. Source: county tax records.