10345 Greensboro St · Detroit, MI 48224

$69,000

3 bd · 1.0 ba · 1,046 sqft · SingleFamily public records · 102 Days on market

Built 1938 4,792 sqft lot $66/sqft · 5% above area Est $65k · 5% over

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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 +5.1/15.0
• 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

Investor Special – Handyman / Flipper Opportunity – Brick Bungalow Great opportunity for investors, flippers, or handy homeowners. This charming brick bungalow on Detroit's Eastside features a spacious living room, dining room, large kitchen, and an upper master bedroom with a sitting area. The home has solid bones but needs some work, making it a great value-add opportunity. Exterior features include vinyl windows, a 3D roof, good curb appeal, and a fenced yard. Located on a well-maintained brick block close to schools, dining, and major highways. Buyer will receive a clean title, warranty deed, and title insurance. Purchaser to pay a $495 processing fee to the listing broker at closing. Call or text for more information.

Key facts

• Brick bungalow
• Upper master bedroom
• Fenced yard

Tags

• BRICK BUNGALOW
• SPACIOUS LIVING ROOM
• LARGE KITCHEN
• UPPER MASTER BEDROOM
• FENCED YARD
• WELL-MAINTAINED BRICK BLOCK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 10.0% 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; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 36% 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 $477 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 $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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: 1.95% ✓
• Cap rate: 15.99%
• Cash-on-cash: 34.64%
• DSCR: 2.54
• GRM: 4.3

CMA / ARV

• ARV (median comp): $65,450
• List price: $69,000
• Delta: 5.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10326 Beaconsfield St	0.10mi	3/1.0	1,042 (-0%)	3mo	$66,000	$63	92
10904 N Mogul St	0.41mi	3/1.0	1,045 (-0%)	0mo	$113,000	$108	81
10441 Roxbury St	0.06mi	3/1.5	1,127 (+8%)	3mo	$59,000	$52	80
10696 Stratman St	0.22mi	3/1.5	1,000 (-4%)	3mo	$53,000	$53	78
10318 Beaconsfield St	0.10mi	3/1.5	1,146 (+10%)	1mo	$78,000	$68	76
9500 Lakepointe St	0.38mi	3/1.0	1,130 (+8%)	0mo	$125,000	$111	69
9771 Mckinney St	0.30mi	4/1.0 (+1)	1,112 (+6%)	2mo	$100,000	$90	68
9768 Manistique St	0.48mi	3/1.0	986 (-6%)	0mo	$35,000	$35	68
10319 Mckinney St	0.49mi	4/1.0 (+1)	990 (-5%)	1mo	$25,000	$25	62
9722 Everts St	0.38mi	3/1.0	1,178 (+13%)	1mo	$147,000	$125	61
5777 Lakepointe St	0.74mi	4/2.5 (+1)	1,075 (+3%)	2mo	$174,999	$163	48
12056 Duchess St	0.73mi	3/1.0	950 (-9%)	3mo	$30,000	$32	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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 2.11×
• Total profit: $21,369
• Equity at exit: $10,288

10-year hold

• IRR: 33.6%
• Equity multiple: 3.73×
• Total profit: $52,700
• Equity at exit: $5,966

Cash invested: $19,320 (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: 492
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$362
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $558

Break-even live

Break-even rent $642

Max offer price $69,000

Occupancy floor 54%

Sensitivity live

Price	-10% $597	-5% $577	+0% $558	+5% $538	+10% $519
Rent	-10% $451	-5% $504	+0% $558	+5% $611	+10% $664
Rate	-1.0pp $592	-0.5pp $575	base $558	+0.5pp $540	+1.0pp $522

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	45d	1	0.22mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	0.23mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	0.24mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	22d	1	0.25mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	0.26mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	12d	1	0.27mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	45d	1	0.29mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	19d	1	0.30mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	19d	1	0.31mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	5d	1	0.31mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	5d	1	0.39mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	45d	1	0.41mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	19d	1	0.42mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	0.42mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	0.44mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	0.47mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	22d	1	0.54mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	19d	1	0.56mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.58mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	0.60mi
5911 Somerset Ave Detroit, MI	3.0	1.0	1200	$1,350	$1.12	0d	1	0.61mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	0.69mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	19d	1	0.70mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.71mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,225	$1.11	0d	1	0.72mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	45d	1	0.72mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.72mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	19d	1	0.73mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	16d	1	0.76mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	45d	1	0.76mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.76mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	6d	1	0.77mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	45d	1	0.78mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	14d	1	0.81mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	14d	1	0.81mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	19d	1	0.84mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	45d	1	0.85mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	13d	1	0.86mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.90mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	19d	1	0.90mi

Listing history 30 events

1. 2026-06-21
   days on market $69,000 Active 102 DOM
2. 2026-06-18
   days on market $69,000 Active 99 DOM
3. 2026-06-17
   days on market $69,000 Active 98 DOM
4. 2026-06-15
   days on market $69,000 Active 96 DOM
5. 2026-06-13
   days on market $69,000 Active 94 DOM
6. 2026-06-13
   days on market $69,000 Active 93 DOM
7. 2026-06-09
   days on market $69,000 Active 90 DOM
8. 2026-06-08
   days on market $69,000 Active 89 DOM
9. 2026-06-07
   pricedays on market $69,000 Active 88 DOM
10. 2026-06-04
    days on market $75,000 Active 85 DOM
11. 2026-06-03
    days on market $75,000 Active 84 DOM
12. 2026-06-01
    days on market $75,000 Active 82 DOM
13. 2026-05-31
    days on market $75,000 Active 81 DOM
14. 2026-03-11
    listed $75,000 Active 770-char remark

    Show marketing remark (750 chars)

    Investor Special – Handyman / Flipper Opportunity – Brick Bungalow Great opportunity for investors, flippers, or handy homeowners. This charming brick bungalow on Detroit’s Eastside features a spacious living room, dining room, large kitchen, and an upper master bedroom with a sitting area. The home has solid bones but needs some work, making it a great value-add opportunity. Exterior features include vinyl windows, a 3D roof, good curb appeal, and a fenced yard. Located on a well-maintained brick block close to schools, dining, and major highways. Buyer will receive a clean title, warranty deed, and title insurance. Purchaser to pay a $495 processing fee to the listing broker at closing. Call or text for more information.

15. 2026-03-11
    listed $75,000 Active 750-char remark

    Show marketing remark (750 chars)

    Investor Special – Handyman / Flipper Opportunity – Brick Bungalow Great opportunity for investors, flippers, or handy homeowners. This charming brick bungalow on Detroit’s Eastside features a spacious living room, dining room, large kitchen, and an upper master bedroom with a sitting area. The home has solid bones but needs some work, making it a great value-add opportunity. Exterior features include vinyl windows, a 3D roof, good curb appeal, and a fenced yard. Located on a well-maintained brick block close to schools, dining, and major highways. Buyer will receive a clean title, warranty deed, and title insurance. Purchaser to pay a $495 processing fee to the listing broker at closing. Call or text for more information.

16. 2025-12-16
    historical
17. 2025-12-16
    historical
18. 2025-05-21
    listed $82,000 Active
19. 2025-05-21
    listed $82,000 Active
20. 2025-05-07
    historical
21. 2025-05-07
    historical
22. 2024-12-10
    historical
23. 2024-12-10
    listed $82,000 Active
24. 2024-12-10
    listed $82,000 Active
25. 2024-12-10
    historical
26. 2024-08-23
    price $82,500
27. 2024-08-23
    price $82,500
28. 2024-03-22
    listed $84,000 Active
29. 2024-03-22
    listed $84,000 Active
30. 2020-08-13
    soldstatus $59,900

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,402 · $117/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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,179
• − Mortgage interest: −$3,865
• − Property taxes: −$1,402
• − Insurance: −$345
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$2,007
• Taxable income: $5,971
• Est. tax owed @ 24.0%: −$1,433
• After-tax cash flow: $5,260/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

+25.2% since first listed

17 events — show timeline

• 2026-03-11 Listed $75,000 REALCOMP
• 2026-03-11 Listed $75,000 MiRealSource-MiMLS
• 2025-12-16 Listing Removed — REALCOMP
• 2025-12-16 Listing Removed — MiRealSource-MiMLS
• 2025-05-21 Listed $82,000 REALCOMP
• 2025-05-21 Listed $82,000 MiRealSource-MiMLS
• 2025-05-07 Listing Removed — MiRealSource-MiMLS
• 2025-05-07 Listing Removed — REALCOMP
• 2024-12-10 Listing Removed — MiRealSource-MiMLS
• 2024-12-10 Listed $82,000 MiRealSource-MiMLS
• 2024-12-10 Listed $82,000 REALCOMP
• 2024-12-10 Listing Removed — REALCOMP
• 2024-08-23 Price Changed $82,500 MiRealSource-MiMLS
• 2024-08-23 Price Changed $82,500 REALCOMP
• 2024-03-22 Listed $84,000 MiRealSource-MiMLS
• 2024-03-22 Listed $84,000 REALCOMP
• 2020-08-13 Sold (Public Records) $59,900 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,402 · -54.0% YoY. Source: county tax records.