9236 Penrod St · Detroit, MI 48228

$105,000

3 bd · 1.0 ba · 1,118 sqft · SingleFamily public records · 18 Days on market

Built 1944 5,227 sqft lot $94/sqft · 76% above area Est $76k · 38% over ↓ 30% 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 +27.0/30.0
• DSCR +9.4/10.0
• 1% rule +6.9/10.0
• Livability +3.7/5.0
• 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 well maintained 3-bedroom, 1.5-bath Colonial in a great location. The kitchen has been updated along with new carpet and freshly painted. Perfect for first-time buyers. The backyard is fully fenced great for entertaining, or simply relaxing. Home also offers a 1.5 car garage along with newer furnace and HWT. Located on a quiet street with convenient access to parks, schools, shopping, and freeways, this home is a solid option for both comfort and convenience. * * BATVAI * *

Key facts

• Quiet street
• Updated kitchen
• 5,227 sq ft lot

Tags

• UPDATED KITCHEN
• FULLY FENCED BACKYARD
• QUIET STREET
• CONVENIENT ACCESS TO PARKS
• CONVENIENT ACCESS TO SCHOOLS
• CONVENIENT ACCESS TO SHOPPING

Property features AI

Exterior

• Parking: Detached garage (1.5 spaces)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two stories; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road

Interior

• Bedrooms: Total rooms: 7
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas); ENERGY STAR qualified equipment
• Interior features: Gas water heater; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 40 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 $1,252/mo this rent would consume 49% 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 $726 of loan paydown is wiped out by about $3k 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 18 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 8 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 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1944 — 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: 1.19% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.05%
• DSCR: 1.54
• GRM: 7.0

CMA / ARV

• ARV (median comp): $76,257
• List price: $105,000
• Delta: 37.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8626 Brace St	0.45mi	3/1.0	1,124 (+0%)	2mo	$65,000	$58	77
8874 Grandville Ave	0.55mi	3/1.0	1,064 (-5%)	3mo	$63,000	$59	64
9660 Abington Ave	0.61mi	3/1.0	1,188 (+6%)	1mo	$59,000	$50	61
8449 Penrod St	0.51mi	3/1.0	1,011 (-10%)	0mo	$95,000	$94	60
9570 Westwood St	0.61mi	3/1.0	1,188 (+6%)	1mo	$80,000	$67	60
9317 Artesian St	0.35mi	2/1.0 (-1)	994 (-11%)	1mo	$25,000	$25	59
9934 Warwick St	0.54mi	3/1.0	1,018 (-9%)	2mo	$70,000	$69	59
8651 Brace Street St	0.44mi	3/1.0	987 (-12%)	2mo	$60,000	$61	58
8427 Piedmont St	0.71mi	3/1.0	1,056 (-6%)	2mo	$62,000	$59	56
9221 Grandville Ave	0.52mi	3/1.0	971 (-13%)	2mo	$135,000	$139	52
8418 Grandville Ave	0.73mi	3/1.0	1,229 (+10%)	2mo	$60,000	$49	48
8271 Rosemont Ave	0.62mi	2/1.0 (-1)	1,000 (-11%)	2mo	$35,500	$36	47

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-1,877
• Equity at exit: $15,656

10-year hold

• IRR: 4.5%
• Equity multiple: 1.29×
• Total profit: $8,404
• Equity at exit: $9,078

Cash invested: $29,400 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$551
• Tax from tax record: −$99 /mo · $1,189/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $295

Break-even live

Break-even rent $878

Max offer price $105,000

Occupancy floor 71%

Sensitivity live

Price	-10% $355	-5% $325	+0% $295	+5% $266	+10% $236
Rent	-10% $196	-5% $246	+0% $295	+5% $345	+10% $394
Rate	-1.0pp $348	-0.5pp $322	base $295	+0.5pp $268	+1.0pp $240

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	0.23mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	0.24mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	44d	1	0.26mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	0.26mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	0.48mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	0.60mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.61mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	44d	1	0.65mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	18d	1	0.65mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	22d	1	0.65mi
10030 Abington Ave Detroit, MI	4.0	2.0	1350	$1,475	$1.09	11d	1	0.71mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	25d	1	0.82mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	17d	1	0.85mi
9220 Mansfield St Detroit, MI	3.0	1.0	1200	$1,300	$1.08	44d	1	0.85mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	25d	1	0.89mi
9589 Mansfield St Detroit, MI	4.0	1.0	1250	$1,500	$1.20	5d	1	0.90mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	17d	1	1.02mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	1.07mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.12mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.12mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.12mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.13mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.13mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.13mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.13mi
11641 Mansfield St Unit 2 Detroit, MI	3.0	1.0	1449	$1,300	$0.90	44d	1	1.13mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	17d	1	1.14mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.14mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.14mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.17mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	44d	1	1.18mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.21mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.28mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	13d	1	1.29mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	44d	1	1.31mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	18d	1	1.31mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	44d	1	1.34mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	44d	1	1.34mi
8331 Whitcomb St Detroit, MI	4.0	1.0	1342	$1,350	$1.01	22d	1	1.36mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	17d	1	1.37mi

Listing history 28 events

1. 2026-05-12
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Welcome to this well maintained 3-bedroom, 1.5-bath Colonial in a great location. The kitchen has been updated along with new carpet and freshly painted. Perfect for first-time buyers. The backyard is fully fenced great for entertaining, or simply relaxing. Home also offers a 1.5 car garage along with newer furnace and HWT. Located on a quiet street with convenient access to parks, schools, shopping, and freeways, this home is a solid option for both comfort and convenience. * * BATVAI * *

2. 2026-05-12
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Welcome to this well maintained 3-bedroom, 1.5-bath Colonial in a great location. The kitchen has been updated along with new carpet and freshly painted. Perfect for first-time buyers. The backyard is fully fenced great for entertaining, or simply relaxing. Home also offers a 1.5 car garage along with newer furnace and HWT. Located on a quiet street with convenient access to parks, schools, shopping, and freeways, this home is a solid option for both comfort and convenience. * * BATVAI * *

3. 2026-04-23
   listed $105,000 Active 496-char remark

   Show marketing remark (496 chars)

   Welcome to this well maintained 3-bedroom, 1.5-bath Colonial in a great location. The kitchen has been updated along with new carpet and freshly painted. Perfect for first-time buyers. The backyard is fully fenced great for entertaining, or simply relaxing. Home also offers a 1.5 car garage along with newer furnace and HWT. Located on a quiet street with convenient access to parks, schools, shopping, and freeways, this home is a solid option for both comfort and convenience. * * BATVAI * *

4. 2026-04-23
   listed $105,000 Active 496-char remark

   Show marketing remark (496 chars)

   Welcome to this well maintained 3-bedroom, 1.5-bath Colonial in a great location. The kitchen has been updated along with new carpet and freshly painted. Perfect for first-time buyers. The backyard is fully fenced great for entertaining, or simply relaxing. Home also offers a 1.5 car garage along with newer furnace and HWT. Located on a quiet street with convenient access to parks, schools, shopping, and freeways, this home is a solid option for both comfort and convenience. * * BATVAI * *

5. 2026-04-21
   historical
6. 2026-04-21
   historical
7. 2026-03-27
   price $105,000
8. 2026-03-26
   price $105,000
9. 2026-01-15
   price $119,000
10. 2026-01-14
    price $119,000
11. 2025-12-05
    price $129,900
12. 2025-12-04
    price $129,900
13. 2025-10-19
    listed $139,900 Active
14. 2025-10-19
    listed $139,900 Active
15. 2025-10-06
    historical
16. 2025-10-06
    historical
17. 2025-08-09
    price $143,000
18. 2025-08-09
    price $143,000
19. 2025-07-24
    listed $144,900 Active
20. 2025-07-24
    listed $144,900 Active
21. 2025-02-06
    historical
22. 2025-02-06
    historical
23. 2024-11-21
    price $147,000
24. 2024-11-21
    price $147,000
25. 2024-10-06
    price $149,500
26. 2024-10-06
    price $149,500
27. 2024-09-16
    listed $149,000 Active
28. 2024-09-15
    listed $149,000 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: $1,189 · $99/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$214/yr (+$18/mo · 18.0%)

ⓘ 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 ≥98°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: $15,019
• − Mortgage interest: −$5,882
• − Property taxes: −$1,189
• − Insurance: −$525
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$3,055
• Taxable income: $1,966
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $3,072/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

-29.5% since first listed

28 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-04-23 Listed $105,000 REALCOMP
• 2026-04-23 Listed $105,000 MiRealSource-MiMLS
• 2026-04-21 Listing Removed — MiRealSource-MiMLS
• 2026-04-21 Listing Removed — REALCOMP
• 2026-03-27 Price Changed $105,000 MiRealSource-MiMLS
• 2026-03-26 Price Changed $105,000 REALCOMP
• 2026-01-15 Price Changed $119,000 MiRealSource-MiMLS
• 2026-01-14 Price Changed $119,000 REALCOMP
• 2025-12-05 Price Changed $129,900 MiRealSource-MiMLS
• 2025-12-04 Price Changed $129,900 REALCOMP
• 2025-10-19 Listed $139,900 REALCOMP
• 2025-10-19 Listed $139,900 MiRealSource-MiMLS
• 2025-10-06 Listing Removed — MiRealSource-MiMLS
• 2025-10-06 Listing Removed — REALCOMP
• 2025-08-09 Price Changed $143,000 MiRealSource-MiMLS
• 2025-08-09 Price Changed $143,000 REALCOMP
• 2025-07-24 Listed $144,900 MiRealSource-MiMLS
• 2025-07-24 Listed $144,900 REALCOMP
• 2025-02-06 Listing Removed — MiRealSource-MiMLS
• 2025-02-06 Listing Removed — REALCOMP
• 2024-11-21 Price Changed $147,000 MiRealSource-MiMLS
• 2024-11-21 Price Changed $147,000 REALCOMP
• 2024-10-06 Price Changed $149,500 MiRealSource-MiMLS
• 2024-10-06 Price Changed $149,500 REALCOMP
• 2024-09-16 Listed $149,000 REALCOMP
• 2024-09-15 Listed $149,000 MiRealSource-MiMLS

Property tax history

-1.9%/yr

Latest (2025): $1,189 · -0.5% YoY. Source: county tax records.