4808 Dickerson St · Detroit, MI 48215

$110,000

4 bd · 1.0 ba · 1,542 sqft · SingleFamily public records · 145 Days on market

Built 2022 4,792 sqft lot $71/sqft · 75% above area

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Why this score? — see what drove the C+ 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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller. Value-add opportunity with strong rental history. This property previously generated an average of $1,600 per month in rental income for the last four year. The property will require repairs and updates following the most recent tenant's move-out, offering a great opportunity for a buyer to renovate and restore rental potential. Seller is open to a smooth and timely transaction; and happy to accept whatever the bank is willing to accept. Contact us for more details. (all pictures are from pervious years)

Key facts

• 4,792 sq ft lot
• Garage
• Built 2022

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

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: 137 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $5k; list at $110k implies a 2100% gain — meaningful room to come down on a strong offer.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.29% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.42%
• DSCR: 1.60
• GRM: 6.4

CMA / ARV

• ARV (median comp): $62,718
• List price: $110,000
• Delta: 75.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4830 Dickerson St	0.02mi	3/1.5 (-1)	1,542 (0%)	2mo	$60,099	$39	91
4707 Lenox St	0.05mi	3/1.0 (-1)	1,442 (-6%)	14mo	$17,000	$12	70
5550 Lenox St	0.42mi	4/3.0	1,508 (-2%)	11mo	$179,900	$119	60
5517 Drexel St	0.39mi	5/2.0 (+1)	1,425 (-8%)	3mo	$65,000	$46	58
5059 Lakeview St	0.26mi	4/1.5	1,688 (+10%)	16mo	$75,000	$44	57
5794 Dickerson St	0.59mi	3/1.0 (-1)	1,467 (-5%)	4mo	$118,000	$80	56
5262 Dickerson St	0.29mi	4/2.0	1,610 (+4%)	23mo	$52,000	$32	56
5581 Drexel St	0.45mi	3/2.0 (-1)	1,474 (-4%)	21mo	$118,000	$80	45
5764 Lenox St	0.56mi	4/1.0	1,401 (-9%)	18mo	$85,000	$61	43
5567 Newport St	0.53mi	3/1.5 (-1)	1,468 (-5%)	21mo	$45,000	$31	43
4312 Gray St	0.28mi	3/1.5 (-1)	1,336 (-13%)	24mo	$57,000	$43	38
14524 Chandler Park Dr	0.72mi	5/2.0 (+1)	1,634 (+6%)	23mo	$179,900	$110	28

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: 3.5%
• Equity multiple: 1.13×
• Total profit: $4,145
• Equity at exit: $16,401

10-year hold

• IRR: 13.0%
• Equity multiple: 2.04×
• Total profit: $31,991
• Equity at exit: $9,511

Cash invested: $30,800 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,422 high
• Mortgage (P&I): −$577
• Tax from tax record: −$157 /mo · $1,879/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $344

Break-even live

Break-even rent $986

Max offer price $110,000

Occupancy floor 71%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.75mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	43d	1	0.82mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	43d	1	1.03mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	1.04mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	1.16mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	1.16mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	24d	1	1.17mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.23mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	1.23mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.27mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.30mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.33mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.34mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	1.40mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.40mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	1.41mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	1.42mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.43mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.44mi

Listing history 10 events

1. 2026-05-14
   status Pending 527-char remark

   Show marketing remark (533 chars)

   Motivated Seller. Value-add opportunity with strong rental history. This property previously generated an average of $1,600 per month in rental income for the last four year. The property will require repairs and updates following the most recent tenant’s move-out, offering a great opportunity for a buyer to renovate and restore rental potential. Seller is open to a smooth and timely transaction; and happy to accept whatever the bank is willing to accept. Contact us for more details. (all pictures are from pervious years)

2. 2026-05-14
   status Pending 533-char remark

   Show marketing remark (533 chars)

   Motivated Seller. Value-add opportunity with strong rental history. This property previously generated an average of $1,600 per month in rental income for the last four year. The property will require repairs and updates following the most recent tenant’s move-out, offering a great opportunity for a buyer to renovate and restore rental potential. Seller is open to a smooth and timely transaction; and happy to accept whatever the bank is willing to accept. Contact us for more details. (all pictures are from pervious years)

3. 2025-12-19
   listed $110,000 Active 527-char remark

   Show marketing remark (533 chars)

   Motivated Seller. Value-add opportunity with strong rental history. This property previously generated an average of $1,600 per month in rental income for the last four year. The property will require repairs and updates following the most recent tenant’s move-out, offering a great opportunity for a buyer to renovate and restore rental potential. Seller is open to a smooth and timely transaction; and happy to accept whatever the bank is willing to accept. Contact us for more details. (all pictures are from pervious years)

4. 2025-12-19
   listed $110,000 Active 533-char remark

   Show marketing remark (533 chars)

   Motivated Seller. Value-add opportunity with strong rental history. This property previously generated an average of $1,600 per month in rental income for the last four year. The property will require repairs and updates following the most recent tenant’s move-out, offering a great opportunity for a buyer to renovate and restore rental potential. Seller is open to a smooth and timely transaction; and happy to accept whatever the bank is willing to accept. Contact us for more details. (all pictures are from pervious years)

5. 2020-11-20
   soldstatus $5,001 Sold
6. 2020-11-20
   soldstatus $5,001 Closed
7. 2020-06-10
   status Pending
8. 2020-06-10
   status Pending
9. 2020-03-05
   listed $4,500 Active
10. 2020-03-05
    listed $4,500 Active

ⓘ 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: $1,879 · $157/mo
• Projected year-2 tax: $1,879 · $157/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 ≥96°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: $17,069
• − Mortgage interest: −$6,162
• − Property taxes: −$1,879
• − Insurance: −$550
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$3,200
• Taxable income: $2,547
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $3,522/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

+2344.4% since first listed

10 events — show timeline

• 2026-05-14 Pending — MiRealSource-MiMLS
• 2026-05-14 Pending — REALCOMP
• 2025-12-19 Listed $110,000 REALCOMP
• 2025-12-19 Listed $110,000 MiRealSource-MiMLS
• 2020-11-20 Sold (MLS) $5,001 MiRealSource-MiMLS
• 2020-11-20 Sold (MLS) $5,001 REALCOMP
• 2020-06-10 Pending — MiRealSource-MiMLS
• 2020-06-10 Pending — REALCOMP
• 2020-03-05 Listed $4,500 MiRealSource-MiMLS
• 2020-03-05 Listed $4,500 REALCOMP

Property tax history

+40.9%/yr

Latest (2025): $1,879 · -37.6% YoY. Source: county tax records.