10977 Rossiter St · Detroit, MI 48224

$69,900

3 bd · 1.0 ba · 1,139 sqft · SingleFamily public records · 16 Days on market

Built 1939 4,356 sqft lot Est $77k · 10% under

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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
• ARV discount +11.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Fantastic turn-key investment opportunity in Detroit! This 3-bedroom, 1-bathroom brick Colonial offers an immediate return on investment from day one. The property features a classic 2-story layout with beautiful hardwood flooring throughout the spacious living and dining areas, a functional kitchen, and a full unfinished block basement offering excellent storage potential. Complete with a 1-car detached garage and a low-maintenance lot. Perfect addition to any portfolio with immediate cash flow - tenant occupied at $800/month with an excellent, current payment history. Substantial room for future rent optimization to market rates. Showing requires coordination with the property management company. Purchaser to terminate or honor current lease terms. Buyer/buyer's agent to verify all information (BATVAI).

Key facts

• Hardwood flooring
• Functional kitchen
• 2-story layout

Tags

• BRICK COLONIAL
• 2-STORY LAYOUT
• HARDWOOD FLOORING
• FUNCTIONAL KITCHEN
• UNFINISHED BLOCK BASEMENT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.1 acres (35 x 120)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 35% 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

• It's been on market 16 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y 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 $60k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — 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: 1.89% ✓
• Cap rate: 15.56%
• Cash-on-cash: 33.10%
• DSCR: 2.47
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $77,452
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10318 Beaconsfield St	0.29mi	3/1.5	1,146 (+1%)	1mo	$78,000	$68	82
9722 Everts St	0.46mi	3/1.0	1,178 (+3%)	0mo	$147,000	$125	72
11742 Whitehill St	0.30mi	3/1.5	1,228 (+8%)	1mo	$61,000	$50	70
9500 Lakepointe St	0.62mi	3/1.0	1,130 (-1%)	0mo	$125,000	$111	70
9988 Somerset Ave	0.45mi	3/1.0	1,206 (+6%)	1mo	$130,000	$108	68
10904 N Mogul St	0.39mi	3/1.0	1,045 (-8%)	0mo	$113,000	$108	68
10830 Mckinney St	0.66mi	3/1.0	1,066 (-6%)	1mo	$40,199	$38	58
15411 Young St St	0.56mi	3/1.5	1,240 (+9%)	2mo	$95,000	$77	56
9817 Somerset Ave	0.50mi	3/1.0	1,290 (+13%)	2mo	$30,000	$23	53
11545 Roxbury St	0.62mi	3/1.0	1,003 (-12%)	1mo	$65,000	$65	51
10319 Mckinney St	0.46mi	4/1.0 (+1)	990 (-13%)	1mo	$25,000	$25	51
9768 Manistique St	0.65mi	3/1.0	986 (-13%)	0mo	$35,000	$35	47

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: 25.7%
• Equity multiple: 2.03×
• Total profit: $20,139
• Equity at exit: $10,422

10-year hold

• IRR: 31.9%
• Equity multiple: 3.57×
• Total profit: $50,371
• 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: 4.4×

Monthly cashflow live

• Estimated rent: $1,322 high
• Mortgage (P&I): −$367
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $540

Break-even live

Break-even rent $639

Max offer price $69,900

Occupancy floor 54%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.11mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	10d	1	0.24mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.32mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.34mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.36mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.36mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	0.39mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	0.45mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	0.48mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.48mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	0.49mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	0.49mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.51mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	14d	1	0.53mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	0.54mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	0.55mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.57mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	43d	1	0.57mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.58mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	0.60mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	0.61mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.61mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.63mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	0.65mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	0.66mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	4d	1	0.68mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	0.68mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.69mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	0.69mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.72mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	4d	1	0.73mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.78mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.80mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.81mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.84mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	0.84mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.86mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.94mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	0.96mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	14d	1	0.98mi

Listing history 11 events

1. 2026-06-18
   days on market $69,900 Active 16 DOM
2. 2026-06-17
   days on market $69,900 Active 15 DOM
3. 2026-06-15
   days on market $69,900 Active 13 DOM
4. 2026-06-13
   days on market $69,900 Active 11 DOM
5. 2026-06-13
   days on market $69,900 Active 10 DOM
6. 2026-06-09
   days on market $69,900 Active 7 DOM
7. 2026-06-08
   days on market $69,900 Active 6 DOM
8. 2026-06-07
   days on market $69,900 Active 5 DOM
9. 2026-06-04
   days on market $69,900 Active 2 DOM
10. 2026-06-02
    remarks 693-char remark
11. 2026-06-02
    listed $69,900 Active 1 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: $1,307 · $109/mo
• Projected year-2 tax: $1,307 · $109/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: $15,865
• − Mortgage interest: −$3,915
• − Property taxes: −$1,307
• − Insurance: −$350
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − Depreciation: −$2,033
• Taxable income: $5,722
• Est. tax owed @ 24.0%: −$1,373
• After-tax cash flow: $5,105/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

+108.7% since first listed

33 events — show timeline

• 2026-06-01 Listed $69,900 REALCOMP
• 2026-06-01 Listed $69,900 MiRealSource-MiMLS
• 2025-09-08 Listing Removed — MiRealSource-MiMLS
• 2025-09-08 Listing Removed — REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-03-06 Listed $86,500 MiRealSource-MiMLS
• 2025-02-10 Listed $86,500 REALCOMP
• 2020-06-02 Sold (Public Records) $60,000 Public Records
• 2020-04-14 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2020-04-14 Sold (MLS) $35,000 REALCOMP
• 2020-02-18 Pending — MiRealSource-MiMLS
• 2020-02-18 Pending — REALCOMP
• 2020-01-11 Price Changed $37,500 MiRealSource-MiMLS
• 2020-01-10 Price Changed $37,500 REALCOMP
• 2019-11-14 Price Changed $38,900 MiRealSource-MiMLS
• 2019-11-13 Price Changed $38,900 REALCOMP
• 2019-10-16 Price Changed $39,900 MiRealSource-MiMLS
• 2019-10-16 Price Changed $39,900 REALCOMP
• 2019-09-26 Price Changed $40,900 MiRealSource-MiMLS
• 2019-09-26 Price Changed $40,900 REALCOMP
• 2019-08-12 Price Changed $43,500 MiRealSource-MiMLS
• 2019-08-12 Price Changed $43,500 REALCOMP
• 2019-07-16 Price Changed $45,900 MiRealSource-MiMLS
• 2019-07-15 Price Changed $45,900 REALCOMP
• 2019-06-06 Listed $46,900 MiRealSource-MiMLS
• 2019-06-06 Listed $46,900 REALCOMP
• 2007-10-19 Sold (Public Records) $110,000 Public Records
• 2007-07-08 Listing Removed — REALCOMP
• 2007-07-08 Listing Removed — MiRealSource-MiMLS
• 2007-01-08 Listed $109,000 REALCOMP
• 2007-01-08 Listed $109,000 MiRealSource-MiMLS
• 1996-06-07 Sold (Public Records) $33,500 Public Records

Property tax history

-4.1%/yr

Latest (2025): $1,307 · -9.1% YoY. Source: county tax records.