5776 Three Mile Dr · Detroit, MI 48224

$143,000

4 bd · 1.0 ba · 1,353 sqft · SingleFamily public records · 50 Days on market

Built 1935 4,792 sqft lot $106/sqft · 31% above area Est $166k · 14% under

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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 +24.2/30.0
• ARV discount +13.8/15.0
• DSCR +7.8/10.0
• 1% rule +5.3/10.0
• 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

Charming 3-bedroom, 1.5-bath colonial located in a highly desirable area between East Outer Drive and Whittier. This well-maintained home features an updated kitchen, renovated bathrooms, and major mechanical upgrades including newer plumbing and electrical, offering a move-in ready opportunity for its next owner. The seller is offering a credit toward the installation of a new boiler system with a full price offer, providing added value and allowing the buyer to customize the heating system to their preference. A great opportunity to own a solid, updated home in a sought-after Detroit neighborhood.

Key facts

• Move-in ready
• Renovated bathrooms
• Newer plumbing

Tags

• UPDATED KITCHEN
• RENOVATED BATHROOMS
• MAJOR MECHANICAL UPGRADES
• NEWER PLUMBING
• NEWER ELECTRICAL
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $143k).
• Recommended offer: $139k (3.0% 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: Rents flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 39% 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 $989 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 32y 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 $16k; list at $143k implies a 811% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1935 — 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: 1.03% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

• ARV (median comp): $166,085
• List price: $143,000
• Delta: -13.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5791 Bedford St	0.08mi	3/1.5 (-1)	1,344 (-1%)	1mo	$178,000	$132	87
5574 Buckingham Ave	0.26mi	3/1.0 (-1)	1,430 (+6%)	2mo	$105,000	$73	72
5266 Devonshire Rd	0.29mi	3/1.0 (-1)	1,274 (-6%)	1mo	$118,000	$93	71
5050 Somerset Ave	0.60mi	3/1.0 (-1)	1,356 (+0%)	1mo	$84,900	$63	66
5085 Grayton St	0.56mi	4/2.5	1,381 (+2%)	1mo	$240,500	$174	63
9922 Yorkshire Rd	0.58mi	3/2.0 (-1)	1,342 (-1%)	2mo	$75,000	$56	61
4605 Devonshire Rd	0.73mi	3/1.0 (-1)	1,357 (+0%)	1mo	$139,000	$102	60
9988 Somerset Ave	0.48mi	3/1.0 (-1)	1,206 (-11%)	1mo	$130,000	$108	54
9722 Everts St	0.49mi	3/1.0 (-1)	1,178 (-13%)	0mo	$147,000	$125	50
5762 Oldtown St	0.63mi	3/1.5 (-1)	1,240 (-8%)	2mo	$138,000	$111	48
9155 Grayton St	0.56mi	3/1.5 (-1)	1,554 (+15%)	0mo	$170,000	$109	42
5279 Cadieux Rd	0.60mi	3/2.0 (-1)	1,161 (-14%)	0mo	$68,000	$59	39

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-8,337
• Equity at exit: $21,322

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $3,076
• Equity at exit: $12,364

Cash invested: $40,040 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$750
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $285

Break-even live

Break-even rent $1,107

Max offer price $143,000

Occupancy floor 76%

Sensitivity live

Price	-10% $366	-5% $326	+0% $285	+5% $245	+10% $204
Rent	-10% $169	-5% $227	+0% $285	+5% $343	+10% $401
Rate	-1.0pp $357	-0.5pp $322	base $285	+0.5pp $248	+1.0pp $210

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.28mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.32mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.36mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.36mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.38mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	2d	1	0.44mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	0.45mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.47mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	44d	1	0.48mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	18d	1	0.48mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.54mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	0.55mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.58mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.59mi
10030 Bishop St Detroit, MI	5.0	2.0	1721	$1,200	$0.70	18d	1	0.60mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.60mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	0.60mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	18d	1	0.66mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	18d	1	0.67mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.68mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.70mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.71mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.73mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	0.76mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.78mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.78mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.78mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.83mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.85mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.86mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.87mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.89mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.91mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.93mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	0.95mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.95mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.05mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	1.07mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	1.12mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	18d	1	1.13mi

Listing history 18 events

1. 2026-04-07
   listed $143,000 Active 606-char remark

   Show marketing remark (606 chars)

   Charming 3-bedroom, 1.5-bath colonial located in a highly desirable area between East Outer Drive and Whittier. This well-maintained home features an updated kitchen, renovated bathrooms, and major mechanical upgrades including newer plumbing and electrical, offering a move-in ready opportunity for its next owner. The seller is offering a credit toward the installation of a new boiler system with a full price offer, providing added value and allowing the buyer to customize the heating system to their preference. A great opportunity to own a solid, updated home in a sought-after Detroit neighborhood.

2. 2026-04-06
   listed $143,000 Active 606-char remark

   Show marketing remark (606 chars)

   Charming 3-bedroom, 1.5-bath colonial located in a highly desirable area between East Outer Drive and Whittier. This well-maintained home features an updated kitchen, renovated bathrooms, and major mechanical upgrades including newer plumbing and electrical, offering a move-in ready opportunity for its next owner. The seller is offering a credit toward the installation of a new boiler system with a full price offer, providing added value and allowing the buyer to customize the heating system to their preference. A great opportunity to own a solid, updated home in a sought-after Detroit neighborhood.

3. 2008-05-27
   soldstatus $15,700
4. 2008-05-27
   soldstatus $15,700
5. 2008-05-20
   historical
6. 2007-08-10
   listed $22,900
7. 2007-08-10
   listed $22,900
8. 2003-11-13
   soldstatus $96,000
9. 1999-11-19
   soldstatus $56,457
10. 1999-09-04
    listed $54,000
11. 1998-05-27
    soldstatus $60,752
12. 1995-06-16
    soldstatus $53,900
13. 1995-06-01
    soldstatus $53,900
14. 1995-03-08
    historical
15. 1995-02-24
    listed $53,900
16. 1994-11-04
    soldstatus $20,000
17. 1994-10-28
    soldstatus $20,000
18. 1994-10-06
    listed $28,500

ⓘ 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: $785 · $65/mo
• Projected year-2 tax: $1,493 · $124/mo
• Expected delta: +$709/yr (+$59/mo · 90.3%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,621
• − Mortgage interest: −$8,010
• − Property taxes: −$785
• − Insurance: −$715
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$4,160
• Taxable income: $1,132
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $3,150/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

+401.8% since first listed

18 events — show timeline

• 2026-04-07 Listed $143,000 REALCOMP
• 2026-04-06 Listed $143,000 MiRealSource-MiMLS
• 2008-05-27 Sold (MLS) $15,700 MiRealSource-MiMLS
• 2008-05-27 Sold (MLS) $15,700 REALCOMP
• 2008-05-20 Listing Removed — MiRealSource-MiMLS
• 2007-08-10 Listed $22,900 MiRealSource-MiMLS
• 2007-08-10 Listed $22,900 REALCOMP
• 2003-11-13 Sold (Public Records) $96,000 Public Records
• 1999-11-19 Sold (MLS) $56,457 REALCOMP
• 1999-09-04 Listed $54,000 REALCOMP
• 1998-05-27 Sold (Public Records) $60,752 Public Records
• 1995-06-16 Sold (Public Records) $53,900 Public Records
• 1995-06-01 Sold (MLS) $53,900 MiRealSource-MiMLS
• 1995-03-08 Listing Removed — MiRealSource-MiMLS
• 1995-02-24 Listed $53,900 MiRealSource-MiMLS
• 1994-11-04 Sold (Public Records) $20,000 Public Records
• 1994-10-28 Sold (MLS) $20,000 MiRealSource-MiMLS
• 1994-10-06 Listed $28,500 MiRealSource-MiMLS

Property tax history

+0.8%/yr

Latest (2025): $785 · -53.4% YoY. Source: county tax records.