6390 Faust Ave · Detroit, MI 48228

$79,000

2 bd · 1.0 ba · 759 sqft · SingleFamily · 461 Days on market

Built 1940 Good condition 5,227 sqft lot $104/sqft · 29% above area Est $61k · 29% over ↓ 9% since listing

---

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
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

Key facts

• Newer furnace
• Newer kitchen
• Newer floors

Tags

• NEWER FURNACE
• NEWER KITCHEN
• NEWER FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $472 ($6k/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 13.5% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,289/mo this rent would consume 50% of the median local household income ($31k/yr) (locally 4144% 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 $546 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 + 0.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 461 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 461 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: 1.63% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.63%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (median comp): $61,316
• List price: $79,000
• Delta: 28.84%
• 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
6374 Rutland St	0.44mi	2/1.0	750 (-1%)	8mo	$95,000	$127	71
6394 Westwood St	0.50mi	3/1.0 (+1)	770 (+1%)	2mo	$90,000	$117	68
7313 Grandville Ave	0.70mi	2/1.0	765 (+1%)	0mo	$70,000	$92	66
6339 Warwick St	0.34mi	3/1.0 (+1)	725 (-4%)	8mo	$75,000	$103	65
6884 Memorial Ave	0.62mi	2/1.5	786 (+4%)	1mo	$70,000	$89	62
6803 Grandville Ave	0.53mi	2/1.0	700 (-8%)	2mo	$32,000	$46	61
6434 Piedmont St W	0.38mi	2/1.0	693 (-9%)	9mo	$70,000	$101	60
6356 Rutland St	0.44mi	3/1.0 (+1)	842 (+11%)	2mo	$90,000	$107	54
7320 Westwood St	0.74mi	3/1.0 (+1)	738 (-3%)	2mo	$115,000	$156	54
6078 Plainview Ave	0.73mi	2/1.0	700 (-8%)	1mo	$54,500	$78	52
5736 Brace St	0.45mi	3/2.0 (+1)	825 (+9%)	5mo	$90,000	$109	52
6783 Westwood St	0.58mi	3/1.0 (+1)	836 (+10%)	4mo	$65,000	$78	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.61×
• Total profit: $13,530
• Equity at exit: $11,779

10-year hold

• IRR: 22.1%
• Equity multiple: 2.63×
• Total profit: $36,006
• Equity at exit: $6,830

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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $472

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 58%

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 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	17d	1	0.23mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	3d	10	0.37mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	0.52mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,081	$1.79	2d	12	0.80mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	5d	1	0.84mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	17d	1	0.99mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	1.09mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	1.13mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	15d	1	1.13mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	1.17mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.21mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	1.25mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	2d	1	1.26mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	1.36mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	44d	1	1.42mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	1.43mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.50mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.50mi

Listing history 18 events

1. 2026-06-18
   days on market $79,000 Active 461 DOM
2. 2026-06-17
   days on market $79,000 Active 460 DOM
3. 2026-06-15
   days on market $79,000 Active 458 DOM
4. 2026-06-13
   days on market $79,000 Active 456 DOM
5. 2026-06-13
   days on market $79,000 Active 455 DOM
6. 2026-06-09
   days on market $79,000 Active 452 DOM
7. 2026-06-08
   days on market $79,000 Active 451 DOM
8. 2026-06-07
   days on market $79,000 Active 450 DOM
9. 2026-06-04
   days on market $79,000 Active 447 DOM
10. 2026-06-03
    days on market $79,000 Active 446 DOM
11. 2026-06-01
    days on market $79,000 Active 444 DOM
12. 2026-05-31
    days on market $79,000 Active 443 DOM
13. 2026-03-27
    status Active 142-char remark

    Show marketing remark (142 chars)

    Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

14. 2026-03-27
    historical 142-char remark

    Show marketing remark (142 chars)

    Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

15. 2025-08-10
    price $79,000 142-char remark

    Show marketing remark (142 chars)

    Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

16. 2025-08-09
    price $79,000 142-char remark

    Show marketing remark (142 chars)

    Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

17. 2025-03-13
    listed $87,000 Active 142-char remark

    Show marketing remark (142 chars)

    Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

18. 2025-03-13
    listed $87,000 Active 142-char remark

    Show marketing remark (142 chars)

    Nice 2 Bedroom 1 Bath Home. .. Newer Furnace, Kitchen, Floors and Kitchen. .. . Tenant Occupied Paying $900 Per Month. .. 4 Hr Notice Required

ⓘ 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 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,469
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,298
• Taxable income: $4,691
• Est. tax owed @ 24.0%: −$1,126
• After-tax cash flow: $4,543/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab

This 2-bedroom home is in good condition with newer kitchen and bathroom. It has potential for increased value with exterior painting and front door replacement.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace front door — Improves entryway and security
• Both Clean gutters — Prevents water damage and improves drainage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace front door — Improves entryway and security ↑
• Both Clean gutters — Prevents water damage and improves drainage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

-9.2% since first listed

6 events — show timeline

• 2026-03-27 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2025-08-10 Price Changed $79,000 MiRealSource-MiMLS
• 2025-08-09 Price Changed $79,000 REALCOMP
• 2025-03-13 Listed $87,000 REALCOMP
• 2025-03-13 Listed $87,000 MiRealSource-MiMLS