9628 Petoskey Ave · Detroit, MI 48204

$55,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 3 Days on market

Built 1919 3,049 sqft lot $65/sqft · 58% above area

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

9628 Petoskey Ave, Detroit, MI 48204 - Listed at $55,000. 3 bedrooms, 1 bathroom, 840 sq ft single-family Newer windows for better light and energy efficiency. "Welcome to this charming and well-maintained home at 9628 Petoskey Ave in Detroit's convenient Nardin Park / Winterhalter area! This cozy single-family residence features 2 bedrooms and 1 updated bathroom, plus a refreshed kitchen with modern white fixtures - perfect for first-time buyers, investors, or those seeking an affordable starter home. The home offers a practical layout on a manageable lot, with easy access to major highways, nearby restaurants, shops, Rouge Park trails, and everyday amenities. Whether you're looking for a solid rental opportunity or a personal residence with strong potential, this property delivers great value in an established Detroit neighborhood. Priced to sell at $55,000 - don't miss this opportunity!

Key facts

• Rouge park trails
• Newer windows
• Refreshed kitchen

Tags

• NEWER WINDOWS
• REFRESHED KITCHEN
• EASY ACCESS TO MAJOR HIGHWAYS
• NEARBY RESTAURANTS
• ROUGE PARK TRAILS

Property features AI

Finance

• Financial info: Annual property tax approximately $590

Exterior

• Parking: No garage
• Utilities: Public water available; Public sewer available
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation; Built area above grade: 840 square feet
• Exterior features: Paved road access

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Finished living area on one level; Unfinished basement

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 17.7% 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 41% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $6k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 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 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1919 — 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: 2.15% ✓
• Cap rate: 17.67%
• Cash-on-cash: 40.63%
• DSCR: 2.81
• GRM: 3.9

CMA / ARV

• ARV (median comp): $34,730
• List price: $55,000
• Delta: 58.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9376 Otsego St	0.07mi	3/1.0	873 (+4%)	9mo	$39,500	$45	83
9744 Holmur St	0.12mi	3/1.0	850 (+1%)	14mo	$80,000	$94	81
9304 Otsego St	0.13mi	2/1.0 (-1)	875 (+4%)	5mo	$32,500	$37	78
9311 Yellowstone St	0.37mi	2/1.0 (-1)	859 (+2%)	7mo	$79,150	$92	68
9986 Quincy St	0.24mi	3/1.0	874 (+4%)	17mo	$20,000	$23	68
9775 Petoskey Ave	0.10mi	3/1.5	922 (+10%)	15mo	$120,000	$130	64
9901 Yellowstone St	0.38mi	3/1.0	937 (+12%)	3mo	$78,000	$83	61
9926 Yosemite St	0.42mi	2/1.0 (-1)	787 (-6%)	20mo	$10,000	$13	49
4900 Elmhurst St	0.71mi	3/1.0	934 (+11%)	2mo	$45,000	$48	46
11418 Yosemite St	0.57mi	3/1.0	952 (+13%)	15mo	$60,000	$63	38

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: 55.8%
• Equity multiple: 5.10×
• Total profit: $63,197
• Equity at exit: $49,548

10-year hold

• IRR: 49.3%
• Equity multiple: 11.39×
• Total profit: $160,065
• Equity at exit: $106,853

Cash invested: $15,400 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,180 high
• Mortgage (P&I): −$288
• Tax from tax record: −$100 /mo · $1,194/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $521

Break-even live

Break-even rent $520

Max offer price $55,000

Occupancy floor 51%

Sensitivity live

Price	-10% $552	-5% $537	+0% $521	+5% $506	+10% $490
Rent	-10% $428	-5% $475	+0% $521	+5% $568	+10% $615
Rate	-1.0pp $549	-0.5pp $535	base $521	+0.5pp $507	+1.0pp $493

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	44d	1	0.05mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	25d	1	0.26mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	44d	1	0.38mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	5d	1	0.38mi
3242 Clairmount St Detroit, MI	2.0	1.0	530	$1,300	$2.45	44d	1	0.47mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	13d	1	0.52mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	0.58mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	44d	1	0.72mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.85mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	0.92mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	25d	1	0.95mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.95mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	2d	1	0.99mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	1.02mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.08mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	22d	1	1.15mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	18d	1	1.15mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	25d	1	1.15mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.18mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	44d	1	1.19mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	24d	1	1.20mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	1.21mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	1.23mi
2021 Blaine St Detroit, MI	1.0–2.0	1.0	684	$1,200	$1.75	44d	1	1.27mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	25d	1	1.30mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	17d	1	1.33mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	44d	1	1.36mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	25d	1	1.36mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.46mi
1626 Gladstone St Unit 1 Detroit, MI	2.0	1.0	800	$1,300	$1.62	44d	1	1.48mi
1628 Gladstone St Unit 2 Detroit, MI	2.0	1.0	800	$1,050	$1.31	44d	1	1.48mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	44d	1	1.48mi

Listing history 30 events

1. 2026-06-18
   days on market $55,000 Active 3 DOM
2. 2026-06-17
   days on market $55,000 Active 2 DOM
3. 2026-06-15
   remarks 682-char remark

   Show marketing remark (911 chars)

   9628 Petoskey Ave, Detroit, MI 48204 - Listed at $55,000. 3 bedrooms, 1 bathroom, 840 sq ft single-family Newer windows for better light and energy efficiency. "Welcome to this charming and well-maintained home at 9628 Petoskey Ave in Detroit's convenient Nardin Park / Winterhalter area! This cozy single-family residence features 2 bedrooms and 1 updated bathroom, plus a refreshed kitchen with modern white fixtures - perfect for first-time buyers, investors, or those seeking an affordable starter home. The home offers a practical layout on a manageable lot, with easy access to major highways, nearby restaurants, shops, Rouge Park trails, and everyday amenities. Whether you're looking for a solid rental opportunity or a personal residence with strong potential, this property delivers great value in an established Detroit neighborhood. Priced to sell at $55,000 - don't miss this opportunity!

4. 2026-06-15
   days on marketlisting id $55,000 Active 1 DOM

   Show marketing remark (911 chars)

   9628 Petoskey Ave, Detroit, MI 48204 - Listed at $55,000. 3 bedrooms, 1 bathroom, 840 sq ft single-family Newer windows for better light and energy efficiency. "Welcome to this charming and well-maintained home at 9628 Petoskey Ave in Detroit's convenient Nardin Park / Winterhalter area! This cozy single-family residence features 2 bedrooms and 1 updated bathroom, plus a refreshed kitchen with modern white fixtures - perfect for first-time buyers, investors, or those seeking an affordable starter home. The home offers a practical layout on a manageable lot, with easy access to major highways, nearby restaurants, shops, Rouge Park trails, and everyday amenities. Whether you're looking for a solid rental opportunity or a personal residence with strong potential, this property delivers great value in an established Detroit neighborhood. Priced to sell at $55,000 - don't miss this opportunity!

5. 2026-06-15
   days on market $55,000 Active 239 DOM

   Show marketing remark (911 chars)

   9628 Petoskey Ave, Detroit, MI 48204 - Listed at $55,000. 3 bedrooms, 1 bathroom, 840 sq ft single-family Newer windows for better light and energy efficiency. "Welcome to this charming and well-maintained home at 9628 Petoskey Ave in Detroit's convenient Nardin Park / Winterhalter area! This cozy single-family residence features 2 bedrooms and 1 updated bathroom, plus a refreshed kitchen with modern white fixtures - perfect for first-time buyers, investors, or those seeking an affordable starter home. The home offers a practical layout on a manageable lot, with easy access to major highways, nearby restaurants, shops, Rouge Park trails, and everyday amenities. Whether you're looking for a solid rental opportunity or a personal residence with strong potential, this property delivers great value in an established Detroit neighborhood. Priced to sell at $55,000 - don't miss this opportunity!

6. 2026-06-13
   days on market $55,000 Active 237 DOM
7. 2026-06-13
   days on market $55,000 Active 236 DOM
8. 2026-06-09
   days on market $55,000 Active 233 DOM
9. 2026-06-08
   days on market $55,000 Active 232 DOM
10. 2026-06-07
    days on market $55,000 Active 231 DOM
11. 2026-06-04
    days on market $55,000 Active 228 DOM
12. 2026-06-03
    days on market $55,000 Active 227 DOM
13. 2026-06-01
    days on market $55,000 Active 225 DOM
14. 2026-05-31
    days on market $55,000 Active 224 DOM
15. 2026-03-24
    status Active 296-char remark
16. 2026-03-24
    status Active 296-char remark
17. 2026-03-06
    status Pending 296-char remark
18. 2026-03-06
    status Pending 296-char remark
19. 2026-02-20
    price $55,000 296-char remark
20. 2026-02-19
    price $55,000 296-char remark
21. 2025-10-01
    listed $65,000 Active 296-char remark
22. 2025-10-01
    listed $65,000 Active 296-char remark
23. 2025-09-25
    historical
24. 2025-09-25
    historical
25. 2025-07-26
    price $80,000
26. 2025-07-25
    price $80,000
27. 2025-04-08
    listed $98,000 Active
28. 2025-04-08
    listed $98,000 Active
29. 2022-11-16
    soldstatus $89,900
30. 2002-07-26
    soldstatus $13,000

ⓘ 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: $1,194 · $100/mo
• Projected year-2 tax: $1,194 · $100/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 6/10 Major FEMA zone X (unshaded) · 70% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,161
• − Mortgage interest: −$3,081
• − Property taxes: −$1,194
• − Insurance: −$275
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$1,600
• Taxable income: $5,745
• Est. tax owed @ 24.0%: −$1,379
• After-tax cash flow: $4,878/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

+323.1% since first listed

20 events — show timeline

• 2026-06-15 Listed $55,000 REALCOMP
• 2026-06-15 Listing Removed — MiRealSource-MiMLS
• 2026-06-15 Listed $55,000 MiRealSource-MiMLS
• 2026-03-24 Relisted — MiRealSource-MiMLS
• 2026-03-24 Relisted — REALCOMP
• 2026-03-06 Pending — MiRealSource-MiMLS
• 2026-03-06 Pending — REALCOMP
• 2026-03-06 Listing Removed — REALCOMP
• 2026-02-20 Price Changed $55,000 MiRealSource-MiMLS
• 2026-02-19 Price Changed $55,000 REALCOMP
• 2025-10-01 Listed $65,000 REALCOMP
• 2025-10-01 Listed $65,000 MiRealSource-MiMLS
• 2025-09-25 Listing Removed — REALCOMP
• 2025-09-25 Listing Removed — MiRealSource-MiMLS
• 2025-07-26 Price Changed $80,000 MiRealSource-MiMLS
• 2025-07-25 Price Changed $80,000 REALCOMP
• 2025-04-08 Listed $98,000 REALCOMP
• 2025-04-08 Listed $98,000 MiRealSource-MiMLS
• 2022-11-16 Sold (Public Records) $89,900 Public Records
• 2002-07-26 Sold (Public Records) $13,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,194 · +101.6% YoY. Source: county tax records.