7140 Iowa St · Detroit, MI 48212

$115,000

3 bd · 1.0 ba · 1,041 sqft · SingleFamily public records · 1 Days on market

Built 1956 4,792 sqft lot $110/sqft · 87% above area

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Why this score? — see what drove the D+ 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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully refreshed 3-bedroom, 1.5-bath home that perfectly blends historic charm with modern updates. Step inside to discover gleaming refinished hardwood floors, new tile flooring, and fresh interior paint that create a warm and inviting atmosphere throughout. The spacious bedrooms offer comfort and versatility, while the oversized primary bathroom provides a relaxing retreat complete with a bathtub. The updated kitchen features brand-new cabinetry, offering both style and functionality for everyday living and entertaining. Recent improvements include a new roof, updated plumbing, and the upcoming installation of a new furnace and water heater, providing added peace of mind for years to come. Conveniently located in Detroit, this home offers easy access to major freeways and is just minutes from the vibrant shops, restaurants, and entertainment options of Hamtramck. Don't miss this opportunity to own a historic home with modern upgrades. Schedule your private showing today! Buyer and Buyer's Agent to verify all information.

Key facts

• New tile flooring
• Updated kitchen
• New cabinetry

Tags

• REFINISHED HARDWOOD FLOORS
• NEW TILE FLOORING
• OVERSIZED PRIMARY BATHROOM
• UPDATED KITCHEN
• NEW CABINETRY
• NEW ROOF

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Concrete construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.11 acres (41 x 115.1)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); ENERGY STAR qualified heating equipment; ENERGY STAR/ACCA RSI qualified installation; No cooling
• Interior features: Partially finished basement; Basement present; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 7.8% vs local median 10.1% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 170 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 39% of the median local income ($38k/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 $795 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 24y 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 $50k; list at $115k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1956 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 7.7

CMA / ARV

• ARV (median comp): $76,080
• List price: $115,000
• Delta: 57.73%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8245 E Hildale St	0.62mi	3/1.0	1,028 (-1%)	3mo	$45,000	$44	66
6744 Brimson St	0.27mi	3/1.0	910 (-13%)	1mo	$45,000	$49	65
6732 Varjo St	0.19mi	3/1.0	1,168 (+12%)	9mo	$73,500	$63	63
8154 Quinn St	0.59mi	3/1.0	1,015 (-2%)	9mo	$22,000	$22	61
6865 Edgeton St	0.15mi	3/1.5	888 (-15%)	8mo	$73,000	$82	60
7505 E Robinwood St	0.52mi	4/2.0 (+1)	1,000 (-4%)	3mo	$140,500	$141	58
18810 Carrie St	0.51mi	3/1.0	982 (-6%)	12mo	$86,000	$88	57
19161 Rogge St	0.69mi	3/1.0	1,001 (-4%)	8mo	$46,500	$46	55
18818 Sherwood St	0.56mi	3/1.0	940 (-10%)	6mo	$38,000	$40	52
7437 E Robinwood St	0.51mi	3/1.0	1,150 (+10%)	10mo	$71,500	$62	50
17178 Gable St	0.70mi	3/1.0	1,166 (+12%)	2mo	$17,000	$15	46
18810 Sherwood St	0.55mi	3/2.0	915 (-12%)	11mo	$103,000	$113	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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-9,478
• Equity at exit: $17,147

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $3,677
• Equity at exit: $9,943

Cash invested: $32,200 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 170
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,251 high
• Mortgage (P&I): −$603
• Tax from tax record: −$195 /mo · $2,335/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $143

Break-even live

Break-even rent $1,070

Max offer price $115,000

Occupancy floor 84%

Sensitivity live

Price	-10% $208	-5% $176	+0% $143	+5% $110	+10% $78
Rent	-10% $44	-5% $94	+0% $143	+5% $192	+10% $242
Rate	-1.0pp $201	-0.5pp $172	base $143	+0.5pp $113	+1.0pp $83

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	0.45mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	18d	1	0.65mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.69mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	6d	1	1.04mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	3d	1	1.09mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	25d	1	1.14mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	45d	1	1.15mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	1.15mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	1.16mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	45d	1	1.17mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	3d	1	1.22mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	18d	1	1.22mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	45d	1	1.23mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	1.26mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	45d	1	1.26mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	1.33mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	1.36mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	1.38mi

Listing history 41 events

1. 2026-06-21
   remarks 699-char remark

   Show marketing remark (1059 chars)

   Welcome to this beautifully refreshed 3-bedroom, 1.5-bath home that perfectly blends historic charm with modern updates. Step inside to discover gleaming refinished hardwood floors, new tile flooring, and fresh interior paint that create a warm and inviting atmosphere throughout. The spacious bedrooms offer comfort and versatility, while the oversized primary bathroom provides a relaxing retreat complete with a bathtub. The updated kitchen features brand-new cabinetry, offering both style and functionality for everyday living and entertaining. Recent improvements include a new roof, updated plumbing, and the upcoming installation of a new furnace and water heater, providing added peace of mind for years to come. Conveniently located in Detroit, this home offers easy access to major freeways and is just minutes from the vibrant shops, restaurants, and entertainment options of Hamtramck. Don't miss this opportunity to own a historic home with modern upgrades. Schedule your private showing today! Buyer and Buyer's Agent to verify all information.

2. 2026-06-21
   pricedays on marketlisting id $115,000 Active 1 DOM

   Show marketing remark (1059 chars)

   Welcome to this beautifully refreshed 3-bedroom, 1.5-bath home that perfectly blends historic charm with modern updates. Step inside to discover gleaming refinished hardwood floors, new tile flooring, and fresh interior paint that create a warm and inviting atmosphere throughout. The spacious bedrooms offer comfort and versatility, while the oversized primary bathroom provides a relaxing retreat complete with a bathtub. The updated kitchen features brand-new cabinetry, offering both style and functionality for everyday living and entertaining. Recent improvements include a new roof, updated plumbing, and the upcoming installation of a new furnace and water heater, providing added peace of mind for years to come. Conveniently located in Detroit, this home offers easy access to major freeways and is just minutes from the vibrant shops, restaurants, and entertainment options of Hamtramck. Don't miss this opportunity to own a historic home with modern upgrades. Schedule your private showing today! Buyer and Buyer's Agent to verify all information.

3. 2026-05-31
   days on market $120,000 Active 66 DOM
4. 2026-03-27
   listed $120,000 Active 895-char remark
5. 2026-03-27
   listed $120,000 Active 909-char remark
6. 2026-03-26
   historical $120,000 895-char remark
7. 2026-03-01
   historical
8. 2026-03-01
   historical
9. 2026-01-22
   price $130,000
10. 2026-01-21
    price $130,000
11. 2025-11-23
    listed $129,999 Active
12. 2025-11-23
    listed $129,999 Active
13. 2025-11-22
    historical
14. 2025-10-03
    historical
15. 2025-10-03
    historical
16. 2025-09-12
    soldstatus $50,000
17. 2025-08-31
    price $55,000
18. 2025-08-31
    price $55,000
19. 2025-08-28
    listed $85,000 Active
20. 2025-08-28
    listed $85,000 Active
21. 2017-02-22
    historical
22. 2017-02-22
    status Active
23. 2017-02-22
    status Active
24. 2017-02-22
    historical
25. 2017-02-21
    status Pending
26. 2017-02-20
    status Pending
27. 2017-01-16
    listed $25,000 Active
28. 2017-01-16
    listed $25,000 Active
29. 2012-12-06
    historical
30. 2012-12-06
    historical
31. 2012-08-06
    listed $15,000
32. 2012-08-06
    listed $15,000
33. 2012-07-30
    historical
34. 2012-07-30
    historical
35. 2012-07-11
    listed $15,000
36. 2012-07-11
    listed $15,000
37. 2007-05-04
    soldstatus $25,000
38. 2007-02-27
    listed $25,000
39. 2003-10-21
    soldstatus $69,900
40. 2003-05-15
    soldstatus $69,900
41. 2002-08-14
    listed $69,900

ⓘ 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: $2,335 · $195/mo
• Projected year-2 tax: $2,335 · $195/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,016
• − Mortgage interest: −$6,442
• − Property taxes: −$2,335
• − Insurance: −$575
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$3,345
• Taxable loss: −$84
• Est. tax savings @ 24.0%: +$20
• After-tax cash flow: $1,736/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): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• 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

+64.5% since first listed

43 events — show timeline

• 2026-06-21 Listed $115,000 MiRealSource-MiMLS
• 2026-06-21 Listed $115,000 REALCOMP
• 2026-06-20 Coming Soon $115,000 MiRealSource-MiMLS
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2026-03-27 Listed $120,000 MiRealSource-MiMLS
• 2026-03-27 Listed $120,000 REALCOMP
• 2026-03-26 Coming Soon — MiRealSource-MiMLS
• 2026-03-01 Listing Removed — REALCOMP
• 2026-03-01 Listing Removed — MiRealSource-MiMLS
• 2026-01-22 Price Changed $130,000 MiRealSource-MiMLS
• 2026-01-21 Price Changed $130,000 REALCOMP
• 2025-11-23 Listed $129,999 MiRealSource-MiMLS
• 2025-11-23 Listed $129,999 REALCOMP
• 2025-11-22 Coming Soon — MiRealSource-MiMLS
• 2025-10-03 Listing Removed — MiRealSource-MiMLS
• 2025-10-03 Listing Removed — REALCOMP
• 2025-09-12 Sold (Public Records) $50,000 Public Records
• 2025-08-31 Price Changed $55,000 MiRealSource-MiMLS
• 2025-08-31 Price Changed $55,000 REALCOMP
• 2025-08-28 Listed $85,000 MiRealSource-MiMLS
• 2025-08-28 Listed $85,000 REALCOMP
• 2017-02-22 Listing Removed — REALCOMP
• 2017-02-22 Relisted — MiRealSource-MiMLS
• 2017-02-22 Relisted — REALCOMP
• 2017-02-22 Listing Removed — MiRealSource-MiMLS
• 2017-02-21 Pending — MiRealSource-MiMLS
• 2017-02-20 Pending — REALCOMP
• 2017-01-16 Listed $25,000 MiRealSource-MiMLS
• 2017-01-16 Listed $25,000 REALCOMP
• 2012-12-06 Listing Removed — REALCOMP
• 2012-12-06 Listing Removed — MiRealSource-MiMLS
• 2012-08-06 Listed $15,000 REALCOMP
• 2012-08-06 Listed $15,000 MiRealSource-MiMLS
• 2012-07-30 Listing Removed — REALCOMP
• 2012-07-30 Listing Removed — MiRealSource-MiMLS
• 2012-07-11 Listed $15,000 REALCOMP
• 2012-07-11 Listed $15,000 MiRealSource-MiMLS
• 2007-05-04 Sold (MLS) $25,000 REALCOMP
• 2007-02-27 Listed $25,000 REALCOMP
• 2003-10-21 Sold (Public Records) $69,900 Public Records
• 2003-05-15 Sold (MLS) $69,900 REALCOMP
• 2002-08-14 Listed $69,900 REALCOMP

Property tax history

+4.7%/yr

Latest (2025): $2,335 · -6.0% YoY. Source: county tax records.