6334 Hereford St · Detroit, MI 48224

$59,900

3 bd · 1.0 ba · 1,149 sqft · SingleFamily public records · 41 Days on market

Built 1938 8,276 sqft lot $52/sqft · at area comps Est $58k · at est. ↓ 17% since listing

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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 +5.7/15.0
• 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

* * * * * Cash only offers * * * * Investment-ready opportunity: a solid 3-bedroom ranch that's currently rented, offering immediate income for the right buyer. Located close to Ascension Hospital, shopping, and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. * * * * * Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions. * * * * * Owner has other rentals properties to sell and this can be bought individually or as a package deal. Other addresses are 5050 Somerset, 4102 Somerset, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.

Key facts

• Currently rented
• Immediate income
• Close to shopping

Tags

• INVESTMENT READY OPPORTUNITY
• CURRENTLY RENTED
• IMMEDIATE INCOME
• CLOSE TO ASCENSION HOSPITAL
• CLOSE TO SHOPPING
• CLOSE TO MAJOR EXPRESSWAY

Property features AI

Finance

• Other: Property type: Residential
• Financial info: Financial details not provided
• HOA & community: No HOA information specified

Exterior

• Parking: Detached 2-car garage
• Security: No security features specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick exterior
• Construction: Asphalt roof; Block foundation; Brick construction; Built area above grade: 1,149 square feet
• Exterior features: Paved road access; No pool

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central air
• Interior features: Unfinished basement; Total of 5 rooms
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 10.1% 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 37% 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 $414 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 6 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 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.29% ✓
• Cap rate: 19.71%
• Cash-on-cash: 47.93%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

• ARV (median comp): $57,538
• List price: $59,900
• Delta: 4.10%
• 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
6230 Oldtown St	0.30mi	3/1.0	1,149 (0%)	2mo	$76,000	$66	84
9369 Sanilac St	0.29mi	3/1.0	1,124 (-2%)	1mo	$65,000	$58	82
6135 Marseilles St	0.16mi	3/1.0	988 (-14%)	0mo	$55,000	$56	69
21211 Newcastle Rd	0.69mi	3/1.0	1,120 (-2%)	2mo	$135,000	$121	62
5279 Cadieux Rd	0.70mi	3/2.0	1,161 (+1%)	0mo	$68,000	$59	61
10830 Mckinney St	0.63mi	3/1.0	1,066 (-7%)	1mo	$40,199	$38	58
19134 Mallina St	0.52mi	3/1.0	1,032 (-10%)	2mo	$179,000	$173	58
21628 Newcastle Rd	0.74mi	3/1.0	1,079 (-6%)	0mo	$173,500	$161	55
11160 Worden St	0.66mi	3/2.0	1,234 (+7%)	1mo	$156,000	$126	52
10901 Worden St	0.60mi	3/1.5	1,271 (+11%)	1mo	$43,000	$34	51
20244 Mccormick St	0.64mi	3/1.0	1,000 (-13%)	1mo	$75,000	$75	48
5220 University Pl	0.64mi	2/1.0 (-1)	1,001 (-13%)	0mo	$40,000	$40	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: 42.8%
• Equity multiple: 2.78×
• Total profit: $29,915
• Equity at exit: $8,931

10-year hold

• IRR: 47.8%
• Equity multiple: 5.12×
• Total profit: $69,057
• Equity at exit: $5,179

Cash invested: $16,772 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,372 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $670

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 46%

Sensitivity live

Price	-10% $711	-5% $691	+0% $670	+5% $649	+10% $628
Rent	-10% $561	-5% $616	+0% $670	+5% $724	+10% $778
Rate	-1.0pp $700	-0.5pp $685	base $670	+0.5pp $654	+1.0pp $639

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.07mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.07mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.12mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.13mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.15mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.16mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	45d	1	0.20mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.27mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.34mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	25d	1	0.34mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	0.34mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	0.34mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	18d	1	0.34mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	18d	1	0.35mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	25d	1	0.50mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	18d	1	0.51mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	25d	1	0.55mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	0d	1	0.56mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	0.57mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	18d	1	0.57mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.60mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.60mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.60mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.60mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.63mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	0.68mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.68mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	45d	1	0.72mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.75mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	0d	1	0.76mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,195	$1.60	0d	1	0.76mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	19d	1	0.80mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	4d	1	0.80mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	18d	1	0.81mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	4d	1	0.81mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	0.85mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.92mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.96mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.96mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.00mi

Listing history 21 events

1. 2026-06-08
   statusdays on market $59,900 Pending 41 DOM

   Show marketing remark (763 chars)

   * * * * * Cash only offers * * * * Investment-ready opportunity: a solid 3-bedroom ranch that's currently rented, offering immediate income for the right buyer. Located close to Ascension Hospital, shopping, and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. * * * * * Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions. * * * * * Owner has other rentals properties to sell and this can be bought individually or as a package deal. Other addresses are 5050 Somerset, 4102 Somerset, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.

2. 2026-06-07
   days on market $59,900 Active 40 DOM
3. 2026-06-04
   days on market $59,900 Active 37 DOM
4. 2026-06-03
   days on market $59,900 Active 36 DOM
5. 2026-06-02
   days on market $59,900 Active 35 DOM
6. 2026-06-01
   days on market $59,900 Active 34 DOM
7. 2026-05-31
   days on market $59,900 Active 33 DOM
8. 2026-04-28
   historical

   Show marketing remark (763 chars)

   * * * * * Cash only offers * * * * Investment-ready opportunity: a solid 3-bedroom ranch that's currently rented, offering immediate income for the right buyer. Located close to Ascension Hospital, shopping, and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. * * * * * Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions. * * * * * Owner has other rentals properties to sell and this can be bought individually or as a package deal. Other addresses are 5050 Somerset, 4102 Somerset, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.

9. 2026-04-28
   listed $59,900 Active 769-char remark

   Show marketing remark (763 chars)

   * * * * * Cash only offers * * * * Investment-ready opportunity: a solid 3-bedroom ranch that's currently rented, offering immediate income for the right buyer. Located close to Ascension Hospital, shopping, and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. * * * * * Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions. * * * * * Owner has other rentals properties to sell and this can be bought individually or as a package deal. Other addresses are 5050 Somerset, 4102 Somerset, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.

10. 2026-04-28
    listed $59,900 Active

    Show marketing remark (763 chars)

    * * * * * Cash only offers * * * * Investment-ready opportunity: a solid 3-bedroom ranch that's currently rented, offering immediate income for the right buyer. Located close to Ascension Hospital, shopping, and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. * * * * * Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions. * * * * * Owner has other rentals properties to sell and this can be bought individually or as a package deal. Other addresses are 5050 Somerset, 4102 Somerset, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.

11. 2026-04-28
    historical

    Show marketing remark (763 chars)

    * * * * * Cash only offers * * * * Investment-ready opportunity: a solid 3-bedroom ranch that's currently rented, offering immediate income for the right buyer. Located close to Ascension Hospital, shopping, and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. * * * * * Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions. * * * * * Owner has other rentals properties to sell and this can be bought individually or as a package deal. Other addresses are 5050 Somerset, 4102 Somerset, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.

12. 2026-03-22
    listed $69,900 Active
13. 2026-03-22
    listed $69,900 Active
14. 2025-10-01
    historical
15. 2025-10-01
    historical
16. 2025-08-08
    price $63,900
17. 2025-08-08
    price $63,900
18. 2025-07-16
    price $68,900
19. 2025-07-15
    price $68,900
20. 2025-06-12
    listed $72,500 Active
21. 2025-06-12
    listed $72,500 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: $16,463
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$1,743
• Taxable income: $7,533
• Est. tax owed @ 24.0%: −$1,808
• After-tax cash flow: $6,231/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

-17.4% since first listed

16 events — show timeline

• 2026-06-08 Pending — MiRealSource-MiMLS
• 2026-06-08 Pending — REALCOMP
• 2026-04-28 Listing Removed — MiRealSource-MiMLS
• 2026-04-28 Listing Removed — REALCOMP
• 2026-04-28 Listed $59,900 REALCOMP
• 2026-04-28 Listed $59,900 MiRealSource-MiMLS
• 2026-03-22 Listed $69,900 REALCOMP
• 2026-03-22 Listed $69,900 MiRealSource-MiMLS
• 2025-10-01 Listing Removed — MiRealSource-MiMLS
• 2025-10-01 Listing Removed — REALCOMP
• 2025-08-08 Price Changed $63,900 MiRealSource-MiMLS
• 2025-08-08 Price Changed $63,900 REALCOMP
• 2025-07-16 Price Changed $68,900 MiRealSource-MiMLS
• 2025-07-15 Price Changed $68,900 REALCOMP
• 2025-06-12 Listed $72,500 MiRealSource-MiMLS
• 2025-06-12 Listed $72,500 REALCOMP

Property tax history

+9.6%/yr

Latest (2025): $3,808 · +0.6% YoY. Source: county tax records.