8481 E Outer Dr · Detroit, MI 48213

$30,000

3 bd · 2.0 ba · 2,197 sqft · SingleFamily public records · 23 Days on market

Built 1923 6,098 sqft lot ↓ 25% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

Key facts

• Natural fireplace
• Brick property
• Unique architecture

Tags

• TREE LINED EAST OUTER DRIVE
• BRICK PROPERTY
• NATURAL FIREPLACE
• UNIQUE ARCHITECTURE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 42.0% 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: 190 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $1,499/mo this rent would consume 53% of the median local household income ($34k/yr) (locally 1202% 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 19y 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: property tax is 4.9% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 5.00% ✓
• Cap rate: 42.01%
• Cash-on-cash: 127.55%
• DSCR: 6.68
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $107,653
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12086 Glenfield St	0.17mi	4/2.0 (+1)	2,232 (+2%)	5mo	$110,000	$49	80
12057 Sanford St	0.43mi	4/2.5 (+1)	2,184 (-1%)	2mo	$100,000	$46	70
12120 Rosemary St	0.03mi	4/2.0 (+1)	1,889 (-14%)	16mo	$110,000	$58	57
12622 Promenade St	0.33mi	3/2.0	2,432 (+11%)	15mo	$120,000	$49	55
12588 Maiden St	0.59mi	3/1.5	2,169 (-1%)	17mo	$89,800	$41	54
11023 Longview St	0.47mi	4/2.5 (+1)	2,117 (-4%)	15mo	$140,000	$66	52
11864 Maiden St	0.53mi	4/3.0 (+1)	1,969 (-10%)	6mo	$185,000	$94	44
12811 Wilshire Dr	0.48mi	3/1.5	1,959 (-11%)	17mo	$35,000	$18	44
11747 Wilfred St	0.40mi	4/2.0 (+1)	1,969 (-10%)	24mo	$52,500	$27	39
11826 Sanford St	0.46mi	4/2.0 (+1)	1,960 (-11%)	21mo	$55,000	$28	38
9171 E Outer Dr	0.66mi	4/2.0 (+1)	2,504 (+14%)	14mo	$178,000	$71	29

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: —
• Equity multiple: 7.20×
• Total profit: $52,078
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 15.15×
• Total profit: $118,874
• Equity at exit: $2,594

Cash invested: $8,400 (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 48213

• Active inventory: 190
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$122 /mo · $1,462/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $893

Break-even live

Break-even rent $369

Max offer price $30,000

Occupancy floor 35%

Sensitivity live

Price	-10% $998	-5% $988	+0% $893	+5% $884	+10% $876
Rent	-10% $774	-5% $834	+0% $893	+5% $952	+10% $1,011
Rate	-1.0pp $908	-0.5pp $900	base $893	+0.5pp $885	+1.0pp $877

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	24d	1	0.25mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	0.26mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	0.48mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.45mi

Listing history 37 events

1. 2026-03-05
   status Pending 825-char remark

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

2. 2026-03-05
   status Pending

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

3. 2026-02-24
   status Active

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

4. 2026-02-24
   status Active 825-char remark

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

5. 2026-02-16
   status Pending 825-char remark

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

6. 2026-02-16
   status Pending

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

7. 2026-02-02
   listed $30,000 Active
8. 2026-01-31
   listed $30,000 Active 825-char remark

   Show marketing remark (825 chars)

   Investor Special !! Property priced to sell. This is a perfect flip. Check out the as-repaired market values. This property boasts loads of potential but a vision, tools and handyman are required. Located on tree lined East Outer Drive in a stable area. Brick property with solid bones. 3 bedrooms, 1.5 baths, spacious first floor perfect for living and entertaining. There is plenty of room to roam. Natural fireplace and unique architecture. Pictures of the upper level are available. All measurements and data estimated and approx. Former squatters left water running in property causing some interior water damage. Stairs to upper level may not be safe. DO NOT USE ! Buyer's agent to verify all information. No electricity in the property. Take a flashlight. Buyer to pay Saturn Realty a $495 Administration fee at close.

9. 2019-05-06
   soldstatus $42,000 Sold 198-char remark

   Show marketing remark (198 chars)

   Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

10. 2019-04-03
    status Pending

    Show marketing remark (198 chars)

    Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

11. 2019-04-03
    status Pending 198-char remark

    Show marketing remark (198 chars)

    Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

12. 2019-02-19
    price $45,000

    Show marketing remark (198 chars)

    Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

13. 2019-02-19
    price $45,000 198-char remark

    Show marketing remark (198 chars)

    Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

14. 2019-01-04
    listed $60,000 Active 198-char remark

    Show marketing remark (198 chars)

    Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

15. 2019-01-04
    listed $60,000 Active

    Show marketing remark (198 chars)

    Gorgeous all brick colonial in the fast up and coming Detroit east side. Enjoy the spacious living areas, natural fireplace, 2 car garage and truly unique architecture. Priced to move quickly!!!!!!!

16. 2016-11-21
    historical
17. 2016-11-21
    historical
18. 2016-07-06
    price $47,500
19. 2016-07-05
    price $47,500
20. 2016-06-03
    status Active
21. 2016-05-27
    historical
22. 2016-05-20
    listed $55,000 Active
23. 2016-05-20
    listed $55,000 Active
24. 2008-12-22
    historical
25. 2008-12-22
    historical
26. 2008-10-27
    listed $8,900
27. 2008-10-27
    listed $8,900
28. 2008-09-11
    historical
29. 2008-09-11
    historical
30. 2008-06-23
    listed $39,900
31. 2008-06-23
    listed $39,900
32. 2008-05-22
    historical
33. 2008-05-22
    historical
34. 2008-04-23
    listed $39,900
35. 2008-03-07
    historical
36. 2007-11-20
    listed $39,900
37. 2007-11-20
    listed $44,900

ⓘ 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: $1,462 · $122/mo
• Projected year-2 tax: $1,462 · $122/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: $17,993
• − Mortgage interest: −$1,680
• − Property taxes: −$1,462
• − Insurance: −$150
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$873
• Taxable income: $10,948
• Est. tax owed @ 24.0%: −$2,628
• After-tax cash flow: $8,086/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

-24.8% since first listed

37 events — show timeline

• 2026-03-05 Pending — MiRealSource-MiMLS
• 2026-03-05 Pending — REALCOMP
• 2026-02-24 Relisted — REALCOMP
• 2026-02-24 Relisted — MiRealSource-MiMLS
• 2026-02-16 Pending — MiRealSource-MiMLS
• 2026-02-16 Pending — REALCOMP
• 2026-02-02 Listed $30,000 REALCOMP
• 2026-01-31 Listed $30,000 MiRealSource-MiMLS
• 2019-05-06 Sold (MLS) $42,000 REALCOMP
• 2019-04-03 Pending — MiRealSource-MiMLS
• 2019-04-03 Pending — REALCOMP
• 2019-02-19 Price Changed $45,000 MiRealSource-MiMLS
• 2019-02-19 Price Changed $45,000 REALCOMP
• 2019-01-04 Listed $60,000 MiRealSource-MiMLS
• 2019-01-04 Listed $60,000 REALCOMP
• 2016-11-21 Listing Removed — REALCOMP
• 2016-11-21 Listing Removed — MiRealSource-MiMLS
• 2016-07-06 Price Changed $47,500 MiRealSource-MiMLS
• 2016-07-05 Price Changed $47,500 REALCOMP
• 2016-06-03 Relisted — MiRealSource-MiMLS
• 2016-05-27 Listing Removed — MiRealSource-MiMLS
• 2016-05-20 Listed $55,000 MiRealSource-MiMLS
• 2016-05-20 Listed $55,000 REALCOMP
• 2008-12-22 Listing Removed — MiRealSource-MiMLS
• 2008-12-22 Listing Removed — REALCOMP
• 2008-10-27 Listed $8,900 MiRealSource-MiMLS
• 2008-10-27 Listed $8,900 REALCOMP
• 2008-09-11 Listing Removed — REALCOMP
• 2008-09-11 Listing Removed — MiRealSource-MiMLS
• 2008-06-23 Listed $39,900 REALCOMP
• 2008-06-23 Listed $39,900 MiRealSource-MiMLS
• 2008-05-22 Listing Removed — MiRealSource-MiMLS
• 2008-05-22 Listing Removed — REALCOMP
• 2008-04-23 Listed $39,900 REALCOMP
• 2008-03-07 Listing Removed — REALCOMP
• 2007-11-20 Listed $44,900 REALCOMP
• 2007-11-20 Listed $39,900 MiRealSource-MiMLS

Property tax history

-6.2%/yr

Latest (2025): $1,462 · -12.8% YoY. Source: county tax records.