9190 Schaefer Hwy · Detroit, MI 48228

$49,900

2 bd · 1.0 ba · 1,416 sqft · MultiFamily public records · 8 Days on market

Built 1955 5,227 sqft lot

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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
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Opportunity meets flexibility at 9190 Schaefer, Detroit, MI 48228: a multi-family home with 1,416 sq ft and a layout that invites a smart, value-add transformation. With a little bit of fire damage and a clear need for some loving, this is the kind of hands-on project fix and flip investors look for when they want room to create, reposition, and capture upside through the finish work. Inside, the footprint is set up with 2 bedrooms and 2 baths, giving you a strong starting point for multiple exit strategies. The property can be converted into 1 unit, 2 units, or even 2 bed, 2 units, letting you tailor the configuration to your plan and your crew's strengths, whether that means designing a single larger residence or reworking it into separate living spaces. The existing 2 bedroom, 2 bath count also supports practical, straightforward planning as you map out repairs and improvements. Sitting on a 5,184 sq ft lot, the site adds breathing room beyond the walls and helps support the type of functional exterior use many buyers and residents appreciate. That lot size can give your renovation a stronger finish line, with the space to present the property cleanly, define outdoor areas, and deliver a more complete, polished final product that complements the interior changes you make. If you are looking for a Detroit multi-family sale where the story is not already written, this one stands out for its combination of existing space, workable core specs, and conversion potential. Request details and schedule a showing to evaluate 9190 Schaefer in person and lock in your renovation plan.

Key facts

• 184 sq ft lot
• Multi-family home
• Renovation potential

Tags

• MULTI-FAMILY HOME
• 184 SQ FT LOT
• RENOVATION POTENTIAL

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Currently configured as two 1-bedroom units; Each unit reported with $1,200 actual rent
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; One-story building
• Construction: Brick construction; Slab foundation
• Exterior features: Paved road access; Lot dimensions approximately 40.75 x 127 (0.12 acre)

Interior

• Kitchen: No specific appliances listed
• Bedrooms: Two 1-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Pet-friendly
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $995 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 30.2% 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: Rents soft (-2.3%/yr); 363 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $1,696/mo this rent would consume 66% 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 $345 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 9y 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1955 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.40% ✓
• Cap rate: 30.22%
• Cash-on-cash: 85.46%
• DSCR: 4.80
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $16,992
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9357 Birwood St	0.74mi	3/2.0 (+1)	1,554 (+10%)	2mo	$18,000	$12	39

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: 82.5%
• Equity multiple: 4.60×
• Total profit: $50,341
• Equity at exit: $7,440

10-year hold

• IRR: 85.1%
• Equity multiple: 8.61×
• Total profit: $106,333
• Equity at exit: $4,314

Cash invested: $13,972 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,696 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $995

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 36%

Sensitivity live

Price	-10% $1,029	-5% $1,012	+0% $995	+5% $978	+10% $961
Rent	-10% $861	-5% $928	+0% $995	+5% $1,062	+10% $1,129
Rate	-1.0pp $1,020	-0.5pp $1,008	base $995	+0.5pp $982	+1.0pp $969

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$1,696
Total (2 units)			$1,696

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	44d	1	0.16mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	44d	1	0.27mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	0.58mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	44d	1	0.59mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	44d	1	0.67mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	44d	1	0.69mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	44d	1	0.71mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.75mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	0.79mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.79mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	44d	1	0.81mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	2d	1	0.82mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	44d	1	0.84mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	0.84mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	44d	1	0.85mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	44d	1	0.86mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	44d	1	0.91mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	17d	1	0.94mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	0.94mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	44d	1	0.96mi
8047 Robson St Detroit, MI	3.0	2.0	1184	$1,200	$1.01	44d	1	1.03mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	44d	1	1.15mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	25d	1	1.16mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	17d	1	1.16mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	25d	1	1.17mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	17d	1	1.19mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	17d	1	1.20mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	44d	1	1.22mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	17d	1	1.24mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	1.29mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	17d	1	1.35mi
9220 Mansfield St Detroit, MI	3.0	1.0	1200	$1,300	$1.08	44d	1	1.35mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	21d	1	1.36mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	1.41mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.41mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.42mi

Listing history 7 events

1. 2026-06-18
   days on market $49,900 Active 8 DOM
2. 2026-06-17
   days on market $49,900 Active 7 DOM
3. 2026-06-16
   days on market $49,900 Active 6 DOM
4. 2026-06-15
   days on market $49,900 Active 5 DOM
5. 2026-06-13
   days on market $49,900 Active 3 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $49,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,352
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,628
• − Management: −$1,628
• − Depreciation: −$1,452
• Taxable income: $11,851
• Est. tax owed @ 24.0%: −$2,844
• After-tax cash flow: $9,096/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

+10.9% since first listed

46 events — show timeline

• 2026-06-11 Listed $49,900 REALCOMP
• 2026-06-10 Listed $49,900 MiRealSource-MiMLS
• 2024-01-08 Listing Removed — MiRealSource-MiMLS
• 2024-01-08 Listing Removed — REALCOMP
• 2024-01-02 Relisted — MiRealSource-MiMLS
• 2024-01-02 Relisted — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-11-08 Price Changed $88,500 MiRealSource-MiMLS
• 2023-11-08 Price Changed $88,500 REALCOMP
• 2023-10-30 Price Changed $89,000 MiRealSource-MiMLS
• 2023-10-30 Price Changed $89,000 REALCOMP
• 2023-10-12 Price Changed $89,900 MiRealSource-MiMLS
• 2023-10-12 Price Changed $89,900 REALCOMP
• 2023-09-27 Price Changed $90,000 MiRealSource-MiMLS
• 2023-09-27 Price Changed $90,000 REALCOMP
• 2023-07-24 Price Changed $129,900 MiRealSource-MiMLS
• 2023-07-23 Price Changed $129,900 REALCOMP
• 2023-07-13 Price Changed $139,900 MiRealSource-MiMLS
• 2023-07-13 Price Changed $139,900 REALCOMP
• 2023-07-07 Listed $149,900 MiRealSource-MiMLS
• 2023-07-07 Listed $149,900 REALCOMP
• 2023-06-20 Listing Removed — MiRealSource-MiMLS
• 2023-06-20 Listing Removed — REALCOMP
• 2023-05-06 Listed $149,900 MiRealSource-MiMLS
• 2023-05-06 Listed $149,900 REALCOMP
• 2022-01-26 Sold (Public Records) $105,000 Public Records
• 2020-08-11 Sold (Public Records) $35,000 Public Records
• 2020-08-11 Sold (Public Records) $40,000 Public Records
• 2020-08-11 Sold (Public Records) $75,000 Public Records
• 2020-08-07 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2020-08-07 Sold (MLS) $40,000 REALCOMP
• 2020-06-26 Pending — MiRealSource-MiMLS
• 2020-06-26 Pending — REALCOMP
• 2020-05-04 Listed $49,900 MiRealSource-MiMLS
• 2020-05-04 Listed $49,900 REALCOMP
• 2018-03-16 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2018-03-16 Sold (MLS) $35,000 REALCOMP
• 2018-01-18 Pending — MiRealSource-MiMLS
• 2018-01-18 Pending — REALCOMP
• 2018-01-02 Price Changed $35,000 MiRealSource-MiMLS
• 2018-01-02 Price Changed $35,000 REALCOMP
• 2017-12-04 Price Changed $40,000 MiRealSource-MiMLS
• 2017-12-04 Price Changed $40,000 REALCOMP
• 2017-11-04 Listed $45,000 MiRealSource-MiMLS
• 2017-11-02 Listed $45,000 REALCOMP

Property tax history

+13.1%/yr

Latest (2025): $5,650 · +0.4% YoY. Source: county tax records.