7282 Forrer St · Detroit, MI 48228

$160,000

3 bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 5 Days on market

Built 1956 5,227 sqft lot Est $131k · 22% over

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Why this score? — see what drove the F 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 +12.7/30.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this Beautiful 3-bedroom brick ranch located in the desirable Warrendale area. This home features a spacious living room, a large kitchen with plenty of room to cook and dine, and a generously sized bathroom. All three bedrooms offer great space and comfort. The finished basement provides extra living or entertainment space. Solid home in a great location perfect for homeowners.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-17 ($-206/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (18.4% below list).
• Recommended offer: $131k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Rents soft (-2.3%/yr); 363 active listings in the ZIP; 23 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).
• At $1,306/mo this rent would consume 51% of the median local household income ($31k/yr) (locally 4144% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,585 (18.4% 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 1956 — 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: 0.82% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $130,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7304 Saint Marys St	0.19mi	3/1.0	1,215 (-2%)	5mo	$50,000	$41	83
6857 Woodmont Ave	0.45mi	3/1.5	1,234 (-1%)	7mo	$129,000	$105	70
7483 Mettetal St	0.32mi	3/1.5	1,124 (-10%)	5mo	$86,000	$77	63
8040 Coyle St	0.60mi	3/1.0	1,248 (+0%)	10mo	$150,000	$120	63
7522 Forrer St	0.20mi	3/1.0	1,425 (+14%)	7mo	$75,000	$53	61
6303 Grandmont Ave	0.74mi	3/2.0	1,230 (-1%)	4mo	$90,000	$73	56
7904 Mead St	0.57mi	3/1.0	1,080 (-13%)	6mo	$160,000	$148	47
7484 Clayburn St	0.61mi	3/1.0	1,100 (-12%)	7mo	$80,000	$73	46
6400 Payne Ave	0.71mi	3/1.0	1,119 (-10%)	7mo	$185,000	$165	44
6463 Payne Ave	0.62mi	4/2.0 (+1)	1,350 (+8%)	6mo	$320,000	$237	43
7793 Clayburn St	0.71mi	3/1.0	1,065 (-14%)	8mo	$75,000	$70	37
8131 Coyle St	0.66mi	4/1.0 (+1)	1,094 (-12%)	10mo	$140,000	$128	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.31×
• Total profit: $-30,861
• Equity at exit: $23,857

10-year hold

• IRR: -21.4%
• Equity multiple: 0.04×
• Total profit: $-43,131
• Equity at exit: $13,834

Cash invested: $44,800 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,306 high
• Mortgage (P&I): −$839
• Tax from tax record: −$143 /mo · $1,717/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-17

Break-even live

Break-even rent $1,328

Max offer price $156,971

Occupancy floor 96%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7312 Mansfield St Detroit, MI	4.0	1.0	1300	$1,400	$1.08	16d	1	0.11mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	14d	1	0.13mi
6474 Saint Marys St Detroit, MI	3.0	1.0	1237	$1,350	$1.09	43d	1	0.46mi
8047 Robson St Detroit, MI	3.0	2.0	1184	$1,200	$1.01	43d	1	0.64mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	0.64mi
6406 Mead St Dearborn, MI	2.0	1.0	904	$1,100	$1.22	24d	1	0.75mi
8331 Whitcomb St Detroit, MI	4.0	1.0	1342	$1,350	$1.01	21d	1	0.76mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	43d	1	0.82mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	43d	1	0.83mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	43d	1	0.89mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	4d	1	1.11mi
6225 Middlesex St Unit 5 Dearborn, MI	2.0	1.0	700	$950	$1.36	12d	1	1.16mi
6225 Middlesex St Unit 5 Dearborn, MI	2.0	1.0	700	$950	$1.36	4d	1	1.16mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	43d	1	1.20mi
9220 Mansfield St Detroit, MI	3.0	1.0	1200	$1,300	$1.08	43d	1	1.25mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.25mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	16d	1	1.30mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.33mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	17d	1	1.34mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	2d	10	1.35mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	4d	1	1.36mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	1d	1	1.40mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	1d	1	1.48mi

Listing history 4 events

1. 2026-04-22
   status Pending 392-char remark

   Show marketing remark (392 chars)

   Welcome to this Beautiful 3-bedroom brick ranch located in the desirable Warrendale area. This home features a spacious living room, a large kitchen with plenty of room to cook and dine, and a generously sized bathroom. All three bedrooms offer great space and comfort. The finished basement provides extra living or entertainment space. Solid home in a great location perfect for homeowners.

2. 2026-04-22
   status Pending

   Show marketing remark (392 chars)

   Welcome to this Beautiful 3-bedroom brick ranch located in the desirable Warrendale area. This home features a spacious living room, a large kitchen with plenty of room to cook and dine, and a generously sized bathroom. All three bedrooms offer great space and comfort. The finished basement provides extra living or entertainment space. Solid home in a great location perfect for homeowners.

3. 2026-04-17
   listed $160,000 Active 392-char remark

   Show marketing remark (392 chars)

   Welcome to this Beautiful 3-bedroom brick ranch located in the desirable Warrendale area. This home features a spacious living room, a large kitchen with plenty of room to cook and dine, and a generously sized bathroom. All three bedrooms offer great space and comfort. The finished basement provides extra living or entertainment space. Solid home in a great location perfect for homeowners.

4. 2026-04-17
   listed $160,000 Active

   Show marketing remark (392 chars)

   Welcome to this Beautiful 3-bedroom brick ranch located in the desirable Warrendale area. This home features a spacious living room, a large kitchen with plenty of room to cook and dine, and a generously sized bathroom. All three bedrooms offer great space and comfort. The finished basement provides extra living or entertainment space. Solid home in a great location perfect for homeowners.

ⓘ 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: $1,717 · $143/mo
• Projected year-2 tax: $2,090 · $174/mo
• Expected delta: +$374/yr (+$31/mo · 21.8%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,670
• − Mortgage interest: −$8,962
• − Property taxes: −$1,717
• − Insurance: −$800
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$4,655
• Taxable loss: −$2,971
• Est. tax savings @ 24.0%: +$713
• After-tax cash flow: $507/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-22 Pending — REALCOMP
• 2026-04-17 Listed $160,000 REALCOMP
• 2026-04-17 Listed $160,000 MiRealSource-MiMLS

Property tax history

+0.1%/yr

Latest (2025): $1,717 · -54.2% YoY. Source: county tax records.