8366 Navy St · Detroit, MI 48209

$229,000

4 bd · 1.0 ba · 877 sqft · SingleFamily public records · 23 Days on market

Built 1913 3,485 sqft lot

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.3/10.0
• Schools +1.3/10.0

Listing remarks MLS

Welcome to this beautifully renovated property offering modern living and exceptional versatility. Thoughtfully redesigned from top to bottom, this home is perfect for a variety of living arrangements - whether you're seeking a spacious single-family residence or a multi-family setup. With multiple private entrances, it's ideal for extended families, in-law suites, rental income, or a home-based business. Every detail has been updated with care, including new insulation, electrical, and plumbing systems. High-end craftsmanship is evident throughout, with luxury vinyl plank flooring, designer tile, quartz countertops, custom cabinetry, and sleek lighting. Both kitchens feature stylish backsplashes and ample storage, while the spa-like bathrooms include elegant vanities and modern finishes. This move-in-ready home also offers fresh paint, updated mechanicals, energy-efficient windows, and brand-new systems for peace of mind. For added comfort and flexibility, the property includes two furnaces and two water heaters, making it perfectly suited for dual living or rental scenarios. The smart floor plan offers space, privacy, and functionality. Live in one unit and rent the other, create separate spaces for family members, or enjoy the entire home yourself with room to grow. The layout adapts easily to your lifestyle needs. Located in a desirable neighborhood close to schools, restaurants, shopping, and public transit, this property combines style, location, and income potential. Whether you're an investor or a homeowner looking for quality and flexibility, this home is a rare find that checks every box. Don't miss your chance to own this exceptional turnkey property. Schedule your private tour today and explore the unmatched value and potential it offers!

Key facts

• New plumbing
• Renovated property
• New electrical

Tags

• RENOVATED PROPERTY
• MULTIPLE PRIVATE ENTRANCES
• NEW INSULATION
• NEW ELECTRICAL
• NEW PLUMBING
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• Other: Lot approximately 0.08 acre (30 x 114.74); Zoned for multi-family
• Financial info: Annual property tax listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two levels
• Construction: Aluminum siding
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Partially finished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-302 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (37.3% below list).
• Recommended offer: $144k (37.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 10.2% 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: 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($226k) 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.
• Current owner paid $50k; list at $229k implies a 358% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,582 (37.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1913 — 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. 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?
7. 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.
8. 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.
9. 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: 0.63% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.66%
• DSCR: 0.75
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $120,149
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2627 Casper St	0.51mi	4/1.0	985 (+12%)	0mo	$135,000	$137	55
2627 Casper St	0.51mi	4/1.0	985 (+12%)	0mo	$135,000	$137	55
7821 Navy St	0.27mi	3/2.0 (-1)	1,000 (+14%)	3mo	$135,000	$135	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.64×
• Total profit: $105,392
• Equity at exit: $206,301

10-year hold

• IRR: 18.5%
• Equity multiple: 6.07×
• Total profit: $325,372
• Equity at exit: $444,897

Cash invested: $64,120 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 66
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,436 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-302

Break-even live

Break-even rent $1,819

Max offer price $175,581

Occupancy floor —

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2488 Woodmere St Detroit, MI	3.0	1.0	1000	$1,453	$1.45	5d	1	0.34mi

Listing history 37 events

1. 2026-06-18
   days on market $229,000 Active 23 DOM
2. 2026-06-17
   days on market $229,000 Active 22 DOM
3. 2026-06-15
   days on market $229,000 Active 20 DOM
4. 2026-06-13
   days on market $229,000 Active 18 DOM
5. 2026-06-13
   days on market $229,000 Active 17 DOM
6. 2026-06-09
   days on market $229,000 Active 14 DOM
7. 2026-06-08
   days on market $229,000 Active 13 DOM
8. 2026-06-07
   days on market $229,000 Active 12 DOM
9. 2026-06-04
   days on market $229,000 Active 9 DOM
10. 2026-06-03
    days on market $229,000 Active 8 DOM
11. 2026-06-02
    days on market $229,000 Active 7 DOM
12. 2026-06-01
    days on market $229,000 Active 6 DOM
13. 2026-05-31
    days on market $229,000 Active 5 DOM
14. 2026-05-22
    listed $229,000 Active 1780-char remark

    Show marketing remark (1780 chars)

    Welcome to this beautifully renovated property offering modern living and exceptional versatility. Thoughtfully redesigned from top to bottom, this home is perfect for a variety of living arrangements - whether you're seeking a spacious single-family residence or a multi-family setup. With multiple private entrances, it's ideal for extended families, in-law suites, rental income, or a home-based business. Every detail has been updated with care, including new insulation, electrical, and plumbing systems. High-end craftsmanship is evident throughout, with luxury vinyl plank flooring, designer tile, quartz countertops, custom cabinetry, and sleek lighting. Both kitchens feature stylish backsplashes and ample storage, while the spa-like bathrooms include elegant vanities and modern finishes. This move-in-ready home also offers fresh paint, updated mechanicals, energy-efficient windows, and brand-new systems for peace of mind. For added comfort and flexibility, the property includes two furnaces and two water heaters, making it perfectly suited for dual living or rental scenarios. The smart floor plan offers space, privacy, and functionality. Live in one unit and rent the other, create separate spaces for family members, or enjoy the entire home yourself with room to grow. The layout adapts easily to your lifestyle needs. Located in a desirable neighborhood close to schools, restaurants, shopping, and public transit, this property combines style, location, and income potential. Whether you're an investor or a homeowner looking for quality and flexibility, this home is a rare find that checks every box. Don't miss your chance to own this exceptional turnkey property. Schedule your private tour today and explore the unmatched value and potential it offers!

15. 2026-05-22
    listed $229,000 Active

    Show marketing remark (1780 chars)

    Welcome to this beautifully renovated property offering modern living and exceptional versatility. Thoughtfully redesigned from top to bottom, this home is perfect for a variety of living arrangements - whether you're seeking a spacious single-family residence or a multi-family setup. With multiple private entrances, it's ideal for extended families, in-law suites, rental income, or a home-based business. Every detail has been updated with care, including new insulation, electrical, and plumbing systems. High-end craftsmanship is evident throughout, with luxury vinyl plank flooring, designer tile, quartz countertops, custom cabinetry, and sleek lighting. Both kitchens feature stylish backsplashes and ample storage, while the spa-like bathrooms include elegant vanities and modern finishes. This move-in-ready home also offers fresh paint, updated mechanicals, energy-efficient windows, and brand-new systems for peace of mind. For added comfort and flexibility, the property includes two furnaces and two water heaters, making it perfectly suited for dual living or rental scenarios. The smart floor plan offers space, privacy, and functionality. Live in one unit and rent the other, create separate spaces for family members, or enjoy the entire home yourself with room to grow. The layout adapts easily to your lifestyle needs. Located in a desirable neighborhood close to schools, restaurants, shopping, and public transit, this property combines style, location, and income potential. Whether you're an investor or a homeowner looking for quality and flexibility, this home is a rare find that checks every box. Don't miss your chance to own this exceptional turnkey property. Schedule your private tour today and explore the unmatched value and potential it offers!

16. 2026-01-22
    historical
17. 2026-01-22
    historical
18. 2025-12-26
    price $249,900
19. 2025-12-25
    price $249,900
20. 2025-11-07
    price $249,550
21. 2025-11-07
    price $249,550
22. 2025-11-01
    price $249,650
23. 2025-10-31
    price $249,650
24. 2025-10-17
    price $249,750
25. 2025-10-16
    price $249,750
26. 2025-09-20
    price $249,900
27. 2025-09-20
    price $249,900
28. 2025-08-15
    price $258,900
29. 2025-08-15
    price $258,900
30. 2025-08-01
    listed $259,000 Active
31. 2025-08-01
    listed $259,000 Active
32. 2024-04-01
    soldstatus $50,000
33. 2024-03-22
    soldstatus $50,000
34. 2024-03-22
    soldstatus $50,000 Sold
35. 2024-03-05
    listed $50,000
36. 2024-03-05
    listed $50,000
37. 2024-03-05
    historical

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $2,606 · $217/mo
• Expected delta: +$921/yr (+$77/mo · 54.7%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,230
• − Mortgage interest: −$12,828
• − Property taxes: −$1,684
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$6,662
• Taxable loss: −$7,846
• Est. tax savings @ 24.0%: +$1,883
• After-tax cash flow: $-1,746/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• 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

+358.0% since first listed

24 events — show timeline

• 2026-05-22 Listed $229,000 REALCOMP
• 2026-05-22 Listed $229,000 MiRealSource-MiMLS
• 2026-01-22 Listing Removed — MiRealSource-MiMLS
• 2026-01-22 Listing Removed — REALCOMP
• 2025-12-26 Price Changed $249,900 MiRealSource-MiMLS
• 2025-12-25 Price Changed $249,900 REALCOMP
• 2025-11-07 Price Changed $249,550 MiRealSource-MiMLS
• 2025-11-07 Price Changed $249,550 REALCOMP
• 2025-11-01 Price Changed $249,650 MiRealSource-MiMLS
• 2025-10-31 Price Changed $249,650 REALCOMP
• 2025-10-17 Price Changed $249,750 MiRealSource-MiMLS
• 2025-10-16 Price Changed $249,750 REALCOMP
• 2025-09-20 Price Changed $249,900 MiRealSource-MiMLS
• 2025-09-20 Price Changed $249,900 REALCOMP
• 2025-08-15 Price Changed $258,900 MiRealSource-MiMLS
• 2025-08-15 Price Changed $258,900 REALCOMP
• 2025-08-01 Listed $259,000 MiRealSource-MiMLS
• 2025-08-01 Listed $259,000 REALCOMP
• 2024-04-01 Sold (Public Records) $50,000 Public Records
• 2024-03-22 Sold (MLS) $50,000 SW Michigan MLS
• 2024-03-22 Sold (MLS) $50,000 REALCOMP
• 2024-03-05 Listing Removed — SW Michigan MLS
• 2024-03-05 Listed $50,000 SW Michigan MLS
• 2024-03-05 Listed $50,000 REALCOMP

Property tax history

+5.0%/yr

Latest (2025): $1,684 · +1247.6% YoY. Source: county tax records.