9925 Bishop St · Detroit, MI 48224 1914

$54,900

3 bd · 1.0 ba · 1,206 sqft · SingleFamily public records · 181 Days on market

Built 1930 Good condition 5,662 sqft lot $46/sqft · 12% below area Est $108k · 49% under

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Why this score? — see what drove the A- 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
• Appreciation +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Amazing opportunity on this 3 bedroom home on Bishop Street! Spacious yard. The inside has a great layout which features a big kitchen, dining area and living room. The possibilities are endless! Sold as is. Buyer and agent to verify all information.

Key facts

• 5,662 sq ft lot
• Built 1930
• Listed 180 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 9.6% 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: 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.
• Zoned schools: Wayne Elementary School (math 5% / reading 15%, grade F, #1,230 of 1,397 statewide, top 91%, 237 students, 94% FRL); Clippert Academy (379 students, 82% FRL); Denby High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 537 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 89d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 12y ago; this cycle's ask has dropped $35k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.32% ✓
• Cap rate: 18.57%
• Cash-on-cash: 43.85%
• DSCR: 2.95
• GRM: 3.6

CMA / ARV

• ARV (median comp): $108,291
• List price: $54,900
• Delta: -49.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9722 Everts St	0.17mi	3/1.0	1,178 (-2%)	4mo	$147,000	$125	85
10521 Mckinney St	0.20mi	3/1.5	1,313 (+9%)	3mo	$52,000	$40	71
9958 Balfour Rd	0.39mi	2/1.5 (-1)	1,271 (+5%)	0mo	$85,000	$67	66
6150 Neff Ave	0.67mi	3/1.0	1,200 (-0%)	3mo	$65,000	$54	65
11557 Rossiter St	0.64mi	3/1.5	1,250 (+4%)	2mo	$121,000	$97	61
11382 Rossiter St St	0.55mi	3/2.0	1,140 (-6%)	2mo	$145,000	$127	59
9641 Balfour Rd	0.62mi	3/1.0	1,287 (+7%)	3mo	$125,000	$97	58
6334 Hereford St	0.70mi	3/1.5	1,149 (-5%)	3mo	$60,000	$52	55
8845 University Pl	0.70mi	3/1.0	1,100 (-9%)	2mo	$80,000	$73	51
10345 GREENSBORO St	0.54mi	3/1.0	1,046 (-13%)	2mo	$60,000	$57	51
11441 Balfour Rd	0.72mi	3/1.0	1,100 (-9%)	2mo	$85,000	$77	50
11609 Beaconsfield St	0.68mi	3/1.5	1,376 (+14%)	2mo	$50,000	$36	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: 49.2%
• Equity multiple: 3.76×
• Total profit: $42,449
• Equity at exit: $24,685

10-year hold

• IRR: 48.9%
• Equity multiple: 7.57×
• Total profit: $101,068
• Equity at exit: $38,043

Cash invested: $15,372 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 74 active · 62 under contract
• Months of supply: 6.3 mo (16%/mo absorbed)
• Median asking: $82,450 ($69/sqft)
• Median days on market: 89 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +29.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48224 1914

• Active inventory: 1
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$288
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $562

Break-even live

Break-even rent $565

Max offer price $54,900

Occupancy floor 51%

Sensitivity live

Price	-10% $593	-5% $577	+0% $562	+5% $546	+10% $531
Rent	-10% $461	-5% $511	+0% $562	+5% $612	+10% $662
Rate	-1.0pp $589	-0.5pp $576	base $562	+0.5pp $547	+1.0pp $533

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: $13,725
• Closing costs: $1,647
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,376	$1.38	89d	1	0.05mi
9850 Yorkshire Rd Detroit, MI	3.0	1.0	1166	$1,450	$1.24	61d	1	0.05mi
10327 McKinney St Detroit, MI	3.0	1.0	1100	$1,125	$1.02	4d	1	0.09mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	139d	1	0.10mi
9227 Grayton St Detroit, MI	3.0	1.0	1400	$1,100	$0.79	18d	1	0.13mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	139d	1	0.16mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,300	$0.98	89d	1	0.18mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	139d	1	0.19mi
10620 McKinney St Detroit, MI	3.0	2.0	1008	$1,523	$1.51	10d	1	0.21mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	99d	1	0.23mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	139d	1	0.24mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	139d	1	0.25mi
10629 Nottingham Rd Detroit, MI	3.0	1.0	1100	$1,350	$1.23	89d	1	0.29mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	108d	1	0.36mi
9950 Balfour Rd Detroit, MI	3.0	1.0	1251	$1,275	$1.02	59d	1	0.40mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	116d	1	0.42mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	113d	1	0.44mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	113d	1	0.44mi
11243 Roxbury St Detroit, MI	3.0	1.0	1076	$1,225	$1.14	43d	1	0.45mi
11268 Lakepointe St Detroit, MI	3.0	1.0	864	$1,270	$1.47	34d	1	0.45mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	139d	1	0.50mi
10606 Marne St Detroit, MI	3.0	1.0	1039	$1,300	$1.25	24d	1	0.53mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	139d	1	0.53mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,150	$1.11	34d	1	0.53mi
10314 Greensboro St Detroit, MI	3.0	1.0	1208	$1,223	$1.01	10d	1	0.54mi
11056 Wayburn St Detroit, MI	3.0	2.0	990	$1,200	$1.21	34d	1	0.58mi
11494 Wayburn St Detroit, MI	4.0	1.0	1500	$1,300	$0.87	71d	1	0.58mi
11514 Morang Ave Apt 1 Detroit, MI	2.0	1.0	800	$1,000	$1.25	34d	1	0.59mi
11514 Morang Ave Apt 4 Detroit, MI	2.0	1.0	800	$1,000	$1.25	18d	1	0.59mi
11514 Morang Ave Unit 6 Detroit, MI	2.0	1.0	800	$1,000	$1.25	42d	1	0.59mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,000	$1.39	0d	1	0.60mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,100	$0.89	43d	1	0.60mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	84d	1	0.61mi
10391 Roxbury St Detroit, MI	3.0	1.0	996	$1,100	$1.10	30d	1	0.61mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	139d	1	0.62mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	98d	1	0.62mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	139d	1	0.63mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	139d	1	0.63mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	113d	1	0.63mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,200	$1.51	83d	1	0.64mi

Listing history 50 events

1. 2026-09-23
   days on market $54,900 Active 181 DOM
2. 2026-09-22
   days on market $54,900 Active 180 DOM
3. 2026-09-21
   days on market $54,900 Active 179 DOM
4. 2026-09-20
   days on market $54,900 Active 178 DOM
5. 2026-09-19
   days on market $54,900 Active 177 DOM
6. 2026-09-18
   days on market $54,900 Active 176 DOM
7. 2026-09-17
   days on market $54,900 Active 175 DOM
8. 2026-09-16
   days on market $54,900 Active 174 DOM
9. 2026-09-15
   days on market $54,900 Active 173 DOM
10. 2026-09-14
    days on market $54,900 Active 172 DOM
11. 2026-09-13
    days on market $54,900 Active 171 DOM
12. 2026-09-12
    days on market $54,900 Active 170 DOM
13. 2026-09-11
    days on market $54,900 Active 169 DOM
14. 2026-09-05
    days on market $54,900 Active 163 DOM
15. 2026-09-04
    days on market $54,900 Active 162 DOM
16. 2026-09-03
    days on market $54,900 Active 161 DOM
17. 2026-08-31
    days on market $54,900 Active 158 DOM
18. 2026-08-30
    days on market $54,900 Active 157 DOM
19. 2026-08-29
    days on market $54,900 Active 156 DOM
20. 2026-08-28
    days on market $54,900 Active 155 DOM
21. 2026-08-27
    days on market $54,900 Active 154 DOM
22. 2026-08-26
    days on market $54,900 Active 153 DOM
23. 2026-08-25
    days on market $54,900 Active 152 DOM
24. 2026-08-24
    days on market $54,900 Active 151 DOM
25. 2026-08-23
    pricedays on market $54,900 Active 150 DOM
26. 2026-08-22
    days on market $60,000 Active 149 DOM
27. 2026-08-21
    days on market $60,000 Active 148 DOM
28. 2026-08-20
    days on market $60,000 Active 147 DOM
29. 2026-08-19
    days on market $60,000 Active 146 DOM
30. 2026-08-18
    days on market $60,000 Active 145 DOM
31. 2026-08-17
    days on market $60,000 Active 144 DOM
32. 2026-08-16
    days on market $60,000 Active 143 DOM
33. 2026-08-14
    days on market $60,000 Active 141 DOM
34. 2026-08-13
    days on market $60,000 Active 140 DOM
35. 2026-08-12
    days on market $60,000 Active 139 DOM
36. 2026-08-11
    days on market $60,000 Active 138 DOM
37. 2026-08-10
    days on market $60,000 Active 137 DOM
38. 2026-08-09
    days on market $60,000 Active 136 DOM
39. 2026-08-08
    days on market $60,000 Active 135 DOM
40. 2026-08-06
    days on market $60,000 Active 133 DOM
41. 2026-08-05
    days on market $60,000 Active 132 DOM
42. 2026-08-04
    days on market $60,000 Active 131 DOM
43. 2026-08-03
    days on market $60,000 Active 130 DOM
44. 2026-07-31
    days on market $60,000 Active 127 DOM
45. 2026-07-30
    days on market $60,000 Active 126 DOM
46. 2026-07-30
    days on market $60,000 Active 125 DOM
47. 2026-07-28
    days on market $60,000 Active 124 DOM
48. 2026-07-26
    days on market $60,000 Active 122 DOM
49. 2026-07-24
    days on market $60,000 Active 120 DOM
50. 2026-07-23
    listing id $60,000 Active 119 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: $1,623 · $135/mo
• Projected year-2 tax: $1,623 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,307
• − Mortgage interest: −$3,075
• − Property taxes: −$1,623
• − Insurance: −$274
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$1,597
• Taxable income: $6,288
• Est. tax owed @ 24.0%: −$1,509
• After-tax cash flow: $5,231/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $6,030–$18,090 screening

This 3-bedroom home on Bishop Street is in good condition with a good layout and a spacious yard. It is a great opportunity for an investor looking to make cosmetic improvements and increase its value.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the home's value. ↑
• Both Clean the gutters — Clean gutters improve the home's appearance and prevent water damage to the siding and foundation. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 17/100

Zoned Schools

Elementary Wayne Elementary School F MI #1,230/1,397 Nat'l #38,691/41,679 Middle Clippert Academy High Denby High School F MI #481/713 Nat'l #12,478/17,239

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

B Composite livability gradescore 73/100

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

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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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

+173.5% since first listed

43 events — show timeline

• 2026-04-25 Price Changed $85,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $85,000 REALCOMP
• 2026-03-25 Listed $90,000 REALCOMP
• 2026-03-25 Listed $90,000 MiRealSource-MiMLS
• 2024-05-21 Sold (Public Records) $94,500 Public Records
• 2023-12-31 Listing Removed — MiRealSource-MiMLS
• 2023-12-30 Listing Removed — REALCOMP
• 2023-11-19 Price Changed $63,000 MiRealSource-MiMLS
• 2023-11-18 Price Changed $63,000 REALCOMP
• 2023-09-20 Relisted — MiRealSource-MiMLS
• 2023-09-20 Relisted — REALCOMP
• 2023-09-17 Pending — MiRealSource-MiMLS
• 2023-09-17 Pending — REALCOMP
• 2023-08-28 Listed $58,000 MiRealSource-MiMLS
• 2023-08-28 Listed $58,000 REALCOMP
• 2022-02-18 Sold (MLS) $5,000 MiRealSource-MiMLS
• 2022-02-18 Sold (MLS) $5,000 REALCOMP
• 2021-10-15 Pending — REALCOMP
• 2021-10-12 Listing Removed — REALCOMP
• 2021-09-20 Pending — REALCOMP
• 2021-09-14 Listing Removed — REALCOMP
• 2021-03-05 Pending — REALCOMP
• 2021-03-02 Listing Removed — REALCOMP
• 2020-05-08 Pending — REALCOMP
• 2020-05-05 Listing Removed — REALCOMP
• 2020-02-14 Pending — REALCOMP
• 2020-02-13 Listing Removed — REALCOMP
• 2019-06-26 Pending — MiRealSource-MiMLS
• 2019-06-26 Pending — REALCOMP
• 2019-01-31 Listed $5,000 MiRealSource-MiMLS
• 2019-01-31 Listed $5,000 REALCOMP
• 2016-05-08 Listing Removed — MiRealSource-MiMLS
• 2016-05-08 Listing Removed — REALCOMP
• 2016-04-30 Price Changed $14,900 MiRealSource-MiMLS
• 2016-04-29 Price Changed $14,900 REALCOMP
• 2016-04-16 Listed $19,700 MiRealSource-MiMLS
• 2016-03-30 Listed $19,700 REALCOMP
• 2014-11-18 Sold (MLS) $5,400 REALCOMP
• 2014-11-18 Sold (MLS) $5,400 MiRealSource-MiMLS
• 2014-10-27 Listing Removed — MiRealSource-MiMLS
• 2014-06-04 Listed $5,400 REALCOMP
• 2014-06-04 Listed $5,400 MiRealSource-MiMLS
• 1992-04-17 Sold (Public Records) $31,080 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,623 · +28.2% YoY. Source: county tax records.