8315 Freda St · Detroit, MI 48204

$130,000

3 bd · 1.5 ba · 1,576 sqft · SingleFamily public records · 141 Days on market

Built 1925 4,792 sqft lot Est $145k · 10% under ↓ 31% since listing

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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 +19.9/30.0
• ARV discount +12.2/15.0
• Appreciation +10.0/10.0
• DSCR +6.3/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: 244 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,391/mo this rent would consume 48% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.07% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $144,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8354 Wyoming Ave	0.15mi	3/1.0	1,620 (+3%)	7mo	$125,000	$77	80
8205 Appoline St	0.45mi	3/1.5	1,580 (+0%)	1mo	$105,000	$66	78
8010 Normile St	0.28mi	3/2.0	1,600 (+2%)	6mo	$219,999	$137	77
8547 Meyers Rd	0.41mi	3/1.5	1,542 (-2%)	9mo	$90,000	$58	70
8301 Northlawn St	0.42mi	3/2.5	1,636 (+4%)	2mo	$115,000	$70	68
5801 Oakman Blvd	0.21mi	4/1.5 (+1)	1,451 (-8%)	5mo	$160,000	$110	68
8607 Indiana St	0.28mi	3/1.5	1,457 (-8%)	9mo	$100,000	$69	67
8043 E Morrow Circle St E	0.24mi	3/2.0	1,398 (-11%)	8mo	$155,000	$111	62
8304 Pinehurst St	0.24mi	3/1.0	1,344 (-15%)	9mo	$123,500	$92	55
8615 Northlawn St	0.45mi	3/1.5	1,800 (+14%)	7mo	$70,000	$39	49
7741 Miller Rd	0.58mi	4/2.0 (+1)	1,389 (-12%)	7mo	$280,000	$202	40
7651 Appoline St	0.65mi	3/2.5	1,809 (+15%)	8mo	$280,000	$155	34

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: 28.0%
• Equity multiple: 3.22×
• Total profit: $80,784
• Equity at exit: $117,114

10-year hold

• IRR: 24.4%
• Equity multiple: 7.32×
• Total profit: $230,180
• Equity at exit: $252,561

Cash invested: $36,400 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,391 high
• Mortgage (P&I): −$682
• Tax from tax record: −$207 /mo · $2,483/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $156

Break-even live

Break-even rent $1,193

Max offer price $130,000

Occupancy floor 84%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	1d	1	0.32mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	16d	1	0.39mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	0.43mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	43d	1	0.54mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	24d	1	0.56mi
7801 Appoline St Dearborn, MI	2.0	1.0	2198	$1,350	$0.61	24d	1	0.62mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	43d	1	0.80mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	43d	1	0.89mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	43d	1	1.05mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.11mi

Listing history 24 events

1. 2025-06-27
   status Pending
2. 2025-06-11
   status Pending
3. 2025-03-25
   historical
4. 2024-12-17
   status Pending
5. 2024-01-04
   status Pending 774-char remark

   Show marketing remark (774 chars)

   Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

6. 2024-01-04
   status Pending

   Show marketing remark (774 chars)

   Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

7. 2022-06-15
   status Pending
8. 2022-04-12
   historical
9. 2022-03-16
   soldstatus $117,000
10. 2022-03-10
    status Pending 774-char remark

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

11. 2022-03-10
    status Pending

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

12. 2022-03-03
    historical

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

13. 2022-03-03
    historical

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

14. 2022-03-03
    historical 774-char remark

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

15. 2022-02-23
    price $130,000 774-char remark

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

16. 2022-02-22
    price $130,000
17. 2021-12-03
    status Active
18. 2021-11-29
    historical
19. 2021-11-15
    price $146,000 774-char remark

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

20. 2021-11-14
    price $146,000
21. 2021-10-29
    status Active
22. 2021-10-25
    historical
23. 2021-10-20
    listed $170,000 Active

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

24. 2021-10-20
    listed $170,000 Active 774-char remark

    Show marketing remark (774 chars)

    Welcome home! Beautiful spacious 3 bedroom home with side entry large sitting porch for you to enjoy your morning coffee and relaxation any time of the day. Large Living room and dinning room with den/family room for additional space to entertain your guests or just enjoy family and friends. If you're one who loves the kitchen this one has enough room to prepare you largest and best dinners. The staircase has a spacious landing and wide stairwell so that you can easily bring your furniture home. Nice spacious bedrooms with ample closet space to store your things. There's a balcony porch off of the first room where you can enjoy the nature and relax. This is a must have! * * please follow c-19 guidelines, masks must be worn inside of home to enter. Thank you * *

ⓘ 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: $2,483 · $207/mo
• Projected year-2 tax: $2,483 · $207/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 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $16,690
• − Mortgage interest: −$7,282
• − Property taxes: −$2,483
• − Insurance: −$650
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$3,782
• Taxable loss: −$177
• Est. tax savings @ 24.0%: +$42
• After-tax cash flow: $1,914/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

-31.2% since first listed

24 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-06-11 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2024-01-04 Pending — MiRealSource-MiMLS
• 2024-01-04 Pending — REALCOMP
• 2022-06-15 Pending — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2022-03-16 Sold (Public Records) $117,000 Public Records
• 2022-03-10 Pending — MiRealSource-MiMLS
• 2022-03-10 Pending — REALCOMP
• 2022-03-03 Listing Removed — MiRealSource-MiMLS
• 2022-03-03 Listing Removed — REALCOMP
• 2022-03-03 Listing Removed — REALCOMP
• 2022-02-23 Price Changed $130,000 MiRealSource-MiMLS
• 2022-02-22 Price Changed $130,000 REALCOMP
• 2021-12-03 Relisted — REALCOMP
• 2021-11-29 Listing Removed — REALCOMP
• 2021-11-15 Price Changed $146,000 MiRealSource-MiMLS
• 2021-11-14 Price Changed $146,000 REALCOMP
• 2021-10-29 Relisted — REALCOMP
• 2021-10-25 Listing Removed — REALCOMP
• 2021-10-20 Listed $170,000 MiRealSource-MiMLS
• 2021-10-20 Listed $170,000 REALCOMP

Property tax history

+3.4%/yr

Latest (2025): $2,483 · -14.1% YoY. Source: county tax records.