4224 W Davison · Detroit, MI 48238

$74,500

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 17 Days on market

Built 1946 3,920 sqft lot $75/sqft · 60% above area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 80,000 PURCHASE PRICE, 25,000 DOWN PAYMENT, 8% INTEREST, 96 MONTH TERM. 778 / MONTH. seller financing/land contract terms are negotiable. Packed with potential, this spacious home offers a fantastic opportunity for investors or homeowners looking to add their own personal touch. Conveniently located near major highways, schools, parks, and shopping, the property provides easy access to everyday amenities and city conveniences. Don't miss your chance to unlock its full potential. Schedule your private showing today! * 2500 EMD to be held with the seller's title company * Purchaser to pay 395 processing fee. As-is sale.

Key facts

• 3,920 sq ft lot
• Built 1946
• Listed 16 days

Property features AI

Finance

• Other: Residential property subtype: Single Family Residence
• Financial info: Tax information not included
• HOA & community: HOA information not provided

Exterior

• Parking: No garage
• Security: Security information not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Built year not provided
• Exterior features: Asphalt roof; Paved road access; Lot dimensions approximately 35 x 110 feet; Lot size about 0.09 acres; No pool

Interior

• Kitchen: Kitchen information not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring information not provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Total of 3 rooms
• Laundry & utility: Laundry information not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 10.0% 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: 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.
• Zoned schools: Thurgood Marshall Elementary School (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 482 students, 88% FRL); Mumford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 889 students, 86% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 353 active listings in the ZIP; 33 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).
• This rent runs 42% of the median local income ($33k/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 $515 of loan paydown is wiped out by about $2k 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 + 6.1% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($73k) 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.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,382 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.58% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.17%
• DSCR: 2.12
• GRM: 5.3

CMA / ARV

• ARV (median comp): $46,474
• List price: $74,500
• Delta: 60.95%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13503 Monica St	0.37mi	3/1.0	953 (-4%)	7mo	$47,500	$50	71
4203 Monterey St	0.61mi	3/1.0	1,000 (+1%)	10mo	$40,000	$40	62
14752 Petoskey Ave	0.71mi	3/1.5	1,029 (+4%)	0mo	$40,000	$39	58
2081 Ewald Cir	0.47mi	2/1.0 (-1)	957 (-3%)	20mo	$65,000	$68	51
2075 Ewald Cir	0.48mi	2/1.0 (-1)	949 (-4%)	19mo	$70,000	$74	50
14629 Monica St	0.74mi	3/1.0	1,128 (+14%)	4mo	$19,000	$17	38
3816 Monterey St	0.60mi	3/2.0	1,080 (+9%)	23mo	$32,000	$30	34

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 1.94×
• Total profit: $19,626
• Equity at exit: $11,108

10-year hold

• IRR: 32.1%
• Equity multiple: 4.34×
• Total profit: $69,738
• Equity at exit: $6,441

Cash invested: $20,860 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 353
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$391
• Tax from tax record: −$69 /mo · $824/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $438

Break-even live

Break-even rent $621

Max offer price $74,500

Occupancy floor 58%

Sensitivity live

Price	-10% $480	-5% $459	+0% $438	+5% $416	+10% $395
Rent	-10% $345	-5% $391	+0% $438	+5% $484	+10% $530
Rate	-1.0pp $475	-0.5pp $456	base $438	+0.5pp $418	+1.0pp $399

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	46d	1	0.11mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	27d	1	0.11mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	46d	1	0.14mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	19d	1	0.19mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	19d	1	0.22mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	46d	1	0.24mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	27d	4	0.38mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	20d	1	0.47mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	24d	1	0.47mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	46d	1	0.47mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	20d	1	0.50mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	15d	1	0.52mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	7d	1	0.54mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	46d	1	0.60mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	27d	1	0.82mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,278	$1.42	1d	1	0.82mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	7d	1	0.83mi
14950 Stoepel St Detroit, MI	2.0	1.0	600	$900	$1.50	27d	1	0.87mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	46d	1	0.92mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	46d	1	0.93mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	13d	1	0.95mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	20d	1	1.01mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	19d	1	1.03mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	15d	1	1.09mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	15d	1	1.13mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	19d	1	1.21mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	46d	1	1.25mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	7d	1	1.29mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	46d	1	1.29mi
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	46d	1	1.35mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	6d	1	1.38mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	27d	1	1.41mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	46d	1	1.48mi

Listing history 21 events

1. 2026-06-22
   days on market $74,500 Active 17 DOM
2. 2026-06-21
   days on market $74,500 Active 16 DOM
3. 2026-06-18
   days on market $74,500 Active 13 DOM
4. 2026-06-17
   days on market $74,500 Active 12 DOM
5. 2026-06-16
   days on market $74,500 Active 11 DOM
6. 2026-06-15
   days on market $74,500 Active 10 DOM
7. 2026-06-13
   days on market $74,500 Active 8 DOM
8. 2026-06-13
   days on market $74,500 Active 7 DOM
9. 2026-06-09
   days on market $74,500 Active 4 DOM
10. 2026-06-08
    days on market $74,500 Active 3 DOM
11. 2026-06-07
    remarks 681-char remark
12. 2026-06-07
    pricedays on marketlisting id $74,500 Active 2 DOM
13. 2026-05-31
    days on market $74,800 Active 173 DOM
14. 2025-12-09
    listed $74,800 Active 638-char remark
15. 2025-12-09
    listed $74,800 Active 636-char remark
16. 2025-11-22
    historical
17. 2025-11-22
    historical
18. 2024-12-10
    price $74,800
19. 2024-12-09
    price $74,800
20. 2024-11-21
    listed $74,900 Active
21. 2024-11-21
    listed $74,900 Active

ⓘ 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: $824 · $69/mo
• Projected year-2 tax: $986 · $82/mo
• Expected delta: +$162/yr (+$13/mo · 19.6%)

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

Taxation est. · year 1

• Rental income: $14,095
• − Mortgage interest: −$4,173
• − Property taxes: −$824
• − Insurance: −$372
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$2,167
• Taxable income: $4,303
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $4,218/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-0.5% since first listed

12 events — show timeline

• 2026-06-05 Listed $74,500 REALCOMP
• 2026-06-05 Listed $74,500 MiRealSource-MiMLS
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2025-12-09 Listed $74,800 REALCOMP
• 2025-12-09 Listed $74,800 MiRealSource-MiMLS
• 2025-11-22 Listing Removed — REALCOMP
• 2025-11-22 Listing Removed — MiRealSource-MiMLS
• 2024-12-10 Price Changed $74,800 MiRealSource-MiMLS
• 2024-12-09 Price Changed $74,800 REALCOMP
• 2024-11-21 Listed $74,900 REALCOMP
• 2024-11-21 Listed $74,900 MiRealSource-MiMLS

Property tax history

+1.7%/yr

Latest (2025): $824 · +0.1% YoY. Source: county tax records.