3677 Somerset Ave · Detroit, MI 48224

$69,900

3 bd · 1.5 ba · 1,708 sqft · SingleFamily public records · 8 Days on market

Built 1950 4,792 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in Detroit, close to Grosse Pointe. This home comes with solid fundamentals, including newer windows and an updated roof, furnace, and electrical panel. The property is being sold AS-IS with the seller to make no repairs, presenting a true value-add opportunity for investors or owner-occupants who want to customize renovations. Whether you’re aiming for a rental with strong cash flow or a strategic remodel, this property offers upside in a desirable Detroit location. Schedule a showing to view the layout and start planning the improvements that could maximize return. All information deemed reliable but not guaranteed. Room sizes are estimated. Buyers or Buyer's agent to verify all information.

Key facts

• Desirable location
• Newer windows
• Updated roof

Tags

• NEWER WINDOWS
• UPDATED ROOF
• UPDATED FURNACE
• UPDATED ELECTRICAL PANEL
• VALUE-ADD OPPORTUNITY
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 17.2% 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 flat; 484 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 38% of the median local income ($45k/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 + 0.7% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 11y 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 $1k; list at $70k implies a 6890% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1950 — 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: 2.03% ✓
• Cap rate: 17.21%
• Cash-on-cash: 39.00%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $184,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4144 Haverhill St	0.38mi	3/2.0	1,694 (-1%)	6mo	$210,000	$124	74
4331 Balfour Rd	0.34mi	3/2.0	1,793 (+5%)	1mo	$160,000	$89	73
1328 Lakepointe St	0.44mi	3/1.5	1,611 (-6%)	3mo	$315,000	$196	68
4310 Devonshire Rd	0.48mi	3/1.0	1,650 (-3%)	5mo	$29,000	$18	66
4395 Maryland St	0.48mi	3/1.5	1,840 (+8%)	1mo	$169,000	$92	64
4368 Buckingham Ave	0.45mi	3/1.0	1,560 (-9%)	4mo	$92,000	$59	60
4657 Courville St	0.70mi	3/1.5	1,765 (+3%)	5mo	$100,000	$57	58
1429 Maryland St	0.35mi	4/2.0 (+1)	1,512 (-12%)	0mo	$270,000	$179	57
4610 Haverhill St	0.54mi	3/1.5	1,547 (-9%)	6mo	$167,000	$108	54
1386 Three Mile Dr	0.60mi	4/2.5 (+1)	1,802 (+6%)	6mo	$390,000	$216	49
1239 Maryland St	0.59mi	4/2.0 (+1)	1,850 (+8%)	3mo	$296,500	$160	49
4861 Nottingham Rd	0.61mi	2/2.0 (-1)	1,918 (+12%)	1mo	$75,000	$39	43

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 2.33×
• Total profit: $26,041
• Equity at exit: $10,422

10-year hold

• IRR: 38.4%
• Equity multiple: 4.19×
• Total profit: $62,522
• 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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $636

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 50%

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
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	0.12mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	0.21mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	43d	1	0.41mi
1312 Somerset Ave Grosse Pointe Park, MI	2.0	1.0	1200	$1,400	$1.17	16d	1	0.47mi
1334 Maryland St Grosse Pointe Park, MI	2.0	1.0	1786	$1,200	$0.67	17d	1	0.49mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	43d	1	0.51mi
1236 Beaconsfield Ave Unit 1 Grosse Pointe Park, MI	2.0	1.0	1100	$1,600	$1.45	24d	1	0.57mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	19d	1	0.57mi
5050 Three Mile Dr Detroit, MI	2.0	1.0	2127	$1,150	$0.54	43d	1	0.85mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	0.90mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.90mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	1.02mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	14d	1	1.09mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	1.12mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	1.14mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	43d	1	1.26mi
861 Beaconsfield Ave Grosse Pointe Park, MI	2.0	1.0	1300	$1,500	$1.15	12d	1	1.31mi
890 Neff Rd Grosse Pointe, MI	2.0	1.0	1100	$2,000	$1.82	24d	1	1.31mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	21d	1	1.33mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	23d	1	1.33mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	4d	1	1.35mi
832 Harcourt Rd Grosse Pointe Park, MI	2.0	2.5	1675	$1,850	$1.10	1d	1	1.35mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	1.36mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	1.47mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.47mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	4d	1	1.48mi

Listing history 41 events

1. 2026-05-21
   listed $69,900 Active 731-char remark

   Show marketing remark (725 chars)

   Investment opportunity in Detroit, close to Grosse Pointe. This home comes with solid fundamentals, including newer windows and an updated roof, furnace, and electrical panel. The property is being sold AS-IS with the seller to make no repairs, presenting a true value-add opportunity for investors or owner-occupants who want to customize renovations. Whether you're aiming for a rental with strong cash flow or a strategic remodel, this property offers upside in a desirable Detroit location. Schedule a showing to view the layout and start planning the improvements that could maximize return. All information deemed reliable but not guaranteed. Room sizes are estimated. Buyers or Buyer's agent to verify all information.

2. 2026-05-21
   listed $69,900 Active 725-char remark

   Show marketing remark (725 chars)

   Investment opportunity in Detroit, close to Grosse Pointe. This home comes with solid fundamentals, including newer windows and an updated roof, furnace, and electrical panel. The property is being sold AS-IS with the seller to make no repairs, presenting a true value-add opportunity for investors or owner-occupants who want to customize renovations. Whether you're aiming for a rental with strong cash flow or a strategic remodel, this property offers upside in a desirable Detroit location. Schedule a showing to view the layout and start planning the improvements that could maximize return. All information deemed reliable but not guaranteed. Room sizes are estimated. Buyers or Buyer's agent to verify all information.

3. 2023-11-07
   historical
4. 2023-11-06
   historical
5. 2023-08-28
   price $99,000
6. 2023-08-15
   listed $125,000 Active
7. 2023-08-15
   listed $99,000
8. 2016-08-03
   status Pending
9. 2016-08-01
   soldstatus $1,000 Sold
10. 2016-08-01
    soldstatus $1,000 Closed
11. 2016-08-01
    soldstatus $1,000 Closed
12. 2016-07-14
    listed $1,000 Active
13. 2016-07-14
    listed $1,000 Active
14. 2016-07-14
    listed $1,000 Active
15. 2016-07-13
    historical
16. 2016-07-13
    historical
17. 2016-07-13
    historical
18. 2016-04-29
    status Active
19. 2016-04-25
    historical
20. 2016-04-16
    listed $1,200 Active
21. 2016-03-15
    price $1,200
22. 2016-03-14
    price $1,200
23. 2016-02-18
    price $1,500
24. 2016-02-17
    price $1,500
25. 2016-02-05
    status Active
26. 2016-02-01
    historical
27. 2015-11-04
    price $1,800
28. 2015-11-04
    price $1,800
29. 2015-11-04
    status Active
30. 2015-11-04
    historical
31. 2015-09-22
    price $2,300
32. 2015-09-05
    price $3,000
33. 2015-09-04
    price $3,000
34. 2015-06-25
    price $3,800
35. 2015-06-25
    price $3,800
36. 2015-06-24
    price $5,500
37. 2015-06-24
    price $5,500
38. 2015-05-29
    price $5,700
39. 2015-05-29
    price $5,700
40. 2015-05-10
    listed $6,000 Active
41. 2015-05-04
    listed $6,000 Active

ⓘ 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 ≥96°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: $16,999
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − Depreciation: −$2,033
• Taxable income: $6,932
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $5,969/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+1065.0% since first listed

41 events — show timeline

• 2026-05-21 Listed $69,900 MiRealSource-MiMLS
• 2026-05-21 Listed $69,900 REALCOMP
• 2023-11-07 Listing Removed — MiRealSource-MiMLS
• 2023-11-06 Listing Removed — REALCOMP
• 2023-08-28 Price Changed $99,000 MiRealSource-MiMLS
• 2023-08-15 Listed $99,000 REALCOMP
• 2023-08-15 Listed $125,000 MiRealSource-MiMLS
• 2016-08-03 Pending — REALCOMP
• 2016-08-01 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2016-08-01 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2016-08-01 Sold (MLS) $1,000 REALCOMP
• 2016-07-14 Listed $1,000 MiRealSource-MiMLS
• 2016-07-14 Listed $1,000 REALCOMP
• 2016-07-14 Listed $1,000 MiRealSource-MiMLS
• 2016-07-13 Listing Removed — REALCOMP
• 2016-07-13 Listing Removed — MiRealSource-MiMLS
• 2016-07-13 Listing Removed — MiRealSource-MiMLS
• 2016-04-29 Relisted — MiRealSource-MiMLS
• 2016-04-25 Listing Removed — MiRealSource-MiMLS
• 2016-04-16 Listed $1,200 MiRealSource-MiMLS
• 2016-03-15 Price Changed $1,200 MiRealSource-MiMLS
• 2016-03-14 Price Changed $1,200 REALCOMP
• 2016-02-18 Price Changed $1,500 MiRealSource-MiMLS
• 2016-02-17 Price Changed $1,500 REALCOMP
• 2016-02-05 Relisted — REALCOMP
• 2016-02-01 Listing Removed — REALCOMP
• 2015-11-04 Price Changed $1,800 MiRealSource-MiMLS
• 2015-11-04 Price Changed $1,800 REALCOMP
• 2015-11-04 Relisted — REALCOMP
• 2015-11-04 Listing Removed — REALCOMP
• 2015-09-22 Price Changed $2,300 MiRealSource-MiMLS
• 2015-09-05 Price Changed $3,000 MiRealSource-MiMLS
• 2015-09-04 Price Changed $3,000 REALCOMP
• 2015-06-25 Price Changed $3,800 MiRealSource-MiMLS
• 2015-06-25 Price Changed $3,800 REALCOMP
• 2015-06-24 Price Changed $5,500 MiRealSource-MiMLS
• 2015-06-24 Price Changed $5,500 REALCOMP
• 2015-05-29 Price Changed $5,700 MiRealSource-MiMLS
• 2015-05-29 Price Changed $5,700 REALCOMP
• 2015-05-10 Listed $6,000 REALCOMP
• 2015-05-04 Listed $6,000 MiRealSource-MiMLS

Property tax history

-24.4%/yr

Latest (2025): $38 · -54.9% YoY. Source: county tax records.