8886 Lorman St · Detroit, MI 48214

$74,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 31 Days on market

Built 1915 3,049 sqft lot ↓ 25% since listing

---

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 +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

Located in the rapidly growing East Village/Little Village area, this three-bedroom will make a great project. Hidden on a quiet street, this 1915 Dutch Colonial is full of possibilities and ready for a new vision. Conveniently located in the North Village/Islandview area near Indian Village, West Village, and Belle Isle, this property is within walking distance to the Kercheval, Van Dyke, and Little Village corridors, home to neighborhood favorites including Sister Pie, Father Forgive Me, Barkside, Two Birds, and Collect.

Key facts

• 3,049 sq ft lot
• Built 1915
• Listed 31 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Alley frontage; Lot dimensions approx. 30 x 105 (0.07 acre)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No air conditioning
• Interior features: Crawl space basement; Seven total rooms
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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: 298 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $1,543/mo this rent would consume 55% of the median local household income ($34k/yr) (locally 1364% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 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 + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1915 — 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: 2.06% ✓
• Cap rate: 16.60%
• Cash-on-cash: 36.82%
• DSCR: 2.64
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $202,878
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9385 Dorchester St	0.28mi	3/2.0	1,311 (-1%)	6mo	$18,000	$14	76
2270 Parker St	0.49mi	3/1.0	1,319 (-0%)	4mo	$217,500	$165	72
1771 Hibbard St	0.20mi	2/1.5 (-1)	1,200 (-10%)	3mo	$80,000	$67	65
2476 Beals St	0.61mi	3/1.5	1,324 (-0%)	6mo	$287,900	$217	64
3466 Bewick St	0.67mi	3/2.0	1,308 (-1%)	6mo	$119,900	$92	57
3872 Fischer St	0.72mi	3/1.0	1,288 (-3%)	9mo	$62,500	$49	54
3508 Parker St	0.70mi	3/2.5	1,400 (+6%)	3mo	$266,300	$190	50
1474 Shipherd St	0.71mi	4/1.5 (+1)	1,437 (+8%)	4mo	$315,000	$219	42
3517 Belvidere St	0.50mi	2/2.0 (-1)	1,496 (+13%)	5mo	$71,000	$47	42
2509 Beals St	0.64mi	3/1.5	1,500 (+13%)	7mo	$307,000	$205	40
2927 Seyburn St	0.72mi	3/1.5	1,500 (+13%)	9mo	$140,000	$93	35
3869 Burns St	0.74mi	4/1.5 (+1)	1,505 (+14%)	2mo	$230,000	$153	34

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: 32.7%
• Equity multiple: 2.38×
• Total profit: $28,906
• Equity at exit: $11,168

10-year hold

• IRR: 39.7%
• Equity multiple: 4.73×
• Total profit: $78,185
• Equity at exit: $6,476

Cash invested: $20,972 (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 48214

• Active inventory: 298
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,543 high
• Mortgage (P&I): −$393
• Tax from tax record: −$152 /mo · $1,822/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $643

Break-even live

Break-even rent $729

Max offer price $74,900

Occupancy floor 53%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2282 Belvidere St Unit 102 Detroit, MI	2.0	2.0	1000	$1,250	$1.25	43d	1	0.13mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	23d	1	0.39mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	43d	1	0.45mi
8925 E Jefferson Ave Detroit, MI	1.0–2.0	1.0–2.0	1050	$1,945	$1.85	43d	9	0.52mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	1d	3	0.53mi
8845 E Jefferson Apt 208 Detroit, MI	2.0	1.5	992	$1,635	$1.65	43d	1	0.54mi
8845 E Jefferson Ave Unit 302 Detroit, MI	2.0	2.0	885	$1,460	$1.65	43d	1	0.54mi
8845 E Jefferson Ave Unit 206 Detroit, MI	2.0	1.5	1230	$1,660	$1.35	43d	1	0.54mi
8845 E Jefferson Ave Unit 204 Detroit, MI	2.0	1.5	1150	$2,350	$2.04	43d	1	0.54mi
8845 E Jefferson Ave Unit 205 Detroit, MI	2.0	1.5	960	$1,425	$1.48	43d	1	0.54mi
8845 E Jefferson Ave Unit 207 Detroit, MI	2.0	1.5	1500	$1,695	$1.13	43d	1	0.54mi
8845 E Jefferson Ave Unit 203 Detroit, MI	2.0	1.5	1024	$1,515	$1.48	43d	1	0.54mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	0.54mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	43d	1	0.72mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	0.73mi
1454 Townsend St #101 Detroit, MI	2.0	2.0	1268	$2,500	$1.97	3d	1	0.81mi
7410 Kercheval Ave Unit 212 Detroit, MI	2.0	2.0	1017	$1,950	$1.92	43d	1	0.81mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	17d	1	0.82mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	0.83mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	0.90mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	19d	20	0.90mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	0.91mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	0.93mi
450 Marquette Dr Detroit, MI	2.0	1.0	972	$1,200	$1.23	20d	1	0.94mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	0.95mi
374 E Grand Blvd Unit 2A Detroit, MI	2.0	2.0	1450	$2,750	$1.90	43d	1	0.99mi
7700 E Jefferson Ave Detroit, MI	2.0	1.0	877	$1,795	$2.05	43d	1	1.03mi
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	1.04mi
625 Field St Detroit, MI	3.0	1.5	900	$882	$0.98	17d	1	1.12mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.23mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	1.25mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	43d	1	1.25mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	1.32mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	1.33mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1094	$1,500	$1.37	17d	2	1.48mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1181	$1,500	$1.27	24d	3	1.48mi
6533 E Jefferson Ave #421 Detroit, MI	2.0	1.0	1063	$2,200	$2.07	15d	1	1.48mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	1.49mi

Listing history 29 events

1. 2026-06-18
   days on market $74,900 Active 31 DOM
2. 2026-06-17
   days on market $74,900 Active 30 DOM
3. 2026-06-15
   days on market $74,900 Active 28 DOM
4. 2026-06-13
   days on market $74,900 Active 26 DOM
5. 2026-06-13
   days on market $74,900 Active 25 DOM
6. 2026-06-09
   days on market $74,900 Active 22 DOM
7. 2026-06-08
   days on market $74,900 Active 21 DOM
8. 2026-06-07
   days on market $74,900 Active 20 DOM
9. 2026-06-04
   days on market $74,900 Active 17 DOM
10. 2026-06-03
    days on market $74,900 Active 16 DOM
11. 2026-06-02
    days on market $74,900 Active 15 DOM
12. 2026-06-01
    days on market $74,900 Active 14 DOM
13. 2026-05-31
    days on market $74,900 Active 13 DOM
14. 2026-05-18
    listed $74,900 Active

    Show marketing remark (528 chars)

    Located in the rapidly growing East Village/Little Village area, this three-bedroom will make a great project. Hidden on a quiet street, this 1915 Dutch Colonial is full of possibilities and ready for a new vision. Conveniently located in the North Village/Islandview area near Indian Village, West Village, and Belle Isle, this property is within walking distance to the Kercheval, Van Dyke, and Little Village corridors, home to neighborhood favorites including Sister Pie, Father Forgive Me, Barkside, Two Birds, and Collect.

15. 2026-05-18
    listed $74,900 Active 528-char remark

    Show marketing remark (528 chars)

    Located in the rapidly growing East Village/Little Village area, this three-bedroom will make a great project. Hidden on a quiet street, this 1915 Dutch Colonial is full of possibilities and ready for a new vision. Conveniently located in the North Village/Islandview area near Indian Village, West Village, and Belle Isle, this property is within walking distance to the Kercheval, Van Dyke, and Little Village corridors, home to neighborhood favorites including Sister Pie, Father Forgive Me, Barkside, Two Birds, and Collect.

16. 2026-04-01
    historical
17. 2026-04-01
    historical
18. 2026-03-13
    listed $1 Active
19. 2026-03-13
    listed $1 Active
20. 2024-09-09
    historical
21. 2024-09-09
    historical
22. 2024-08-12
    price $50,000
23. 2024-08-11
    price $50,000
24. 2024-07-23
    price $60,000
25. 2024-07-23
    price $60,000
26. 2024-07-15
    price $77,000
27. 2024-07-15
    price $77,000
28. 2024-07-09
    listed $99,900 Active
29. 2024-07-08
    listed $99,900 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: $1,822 · $152/mo
• Projected year-2 tax: $1,822 · $152/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: $18,521
• − Mortgage interest: −$4,196
• − Property taxes: −$1,822
• − Insurance: −$374
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$2,179
• Taxable income: $6,987
• Est. tax owed @ 24.0%: −$1,677
• After-tax cash flow: $6,045/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

-25.0% since first listed

16 events — show timeline

• 2026-05-18 Listed $74,900 REALCOMP
• 2026-05-18 Listed $74,900 MiRealSource-MiMLS
• 2026-04-01 Listing Removed — MiRealSource-MiMLS
• 2026-04-01 Listing Removed — REALCOMP
• 2026-03-13 Listed $1 MiRealSource-MiMLS
• 2026-03-13 Listed $1 REALCOMP
• 2024-09-09 Listing Removed — MiRealSource-MiMLS
• 2024-09-09 Listing Removed — REALCOMP
• 2024-08-12 Price Changed $50,000 MiRealSource-MiMLS
• 2024-08-11 Price Changed $50,000 REALCOMP
• 2024-07-23 Price Changed $60,000 MiRealSource-MiMLS
• 2024-07-23 Price Changed $60,000 REALCOMP
• 2024-07-15 Price Changed $77,000 MiRealSource-MiMLS
• 2024-07-15 Price Changed $77,000 REALCOMP
• 2024-07-09 Listed $99,900 REALCOMP
• 2024-07-08 Listed $99,900 MiRealSource-MiMLS

Property tax history

+8.6%/yr

Latest (2025): $1,822 · +659.1% YoY. Source: county tax records.