9543 Cheyenne St · Detroit, MI 48227

$69,900

4 bd · 1.5 ba · 1,975 sqft · Townhouse public records · 52 Days on market

Built 1928 5,227 sqft lot ↓ 16% since listing

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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 +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

Key facts

• 5,227 sq ft lot
• 2 parking spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $791 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.9% vs local median 10.1% 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 rising fast (+5.6%/yr); 391 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1,585/mo this rent would consume 52% of the median local household income ($37k/yr) (locally 2371% 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 $483 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 + 5.6% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $26k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. 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.
7. 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.
8. 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: 2.27% ✓
• Cap rate: 19.88%
• Cash-on-cash: 48.51%
• DSCR: 3.16
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 48.9%
• Equity multiple: 3.21×
• Total profit: $43,313
• Equity at exit: $10,422

10-year hold

• IRR: 55.5%
• Equity multiple: 7.18×
• Total profit: $120,983
• Equity at exit: $6,044

Cash invested: $19,572 (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 48227

• Rents YoY: 5.6%
• Active inventory: 391
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$367
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $791

Break-even live

Break-even rent $584

Max offer price $69,900

Occupancy floor 45%

Sensitivity live

Price	-10% $831	-5% $811	+0% $791	+5% $771	+10% $752
Rent	-10% $666	-5% $729	+0% $791	+5% $854	+10% $916
Rate	-1.0pp $826	-0.5pp $809	base $791	+0.5pp $773	+1.0pp $755

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	0.52mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	1.18mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	6d	1	1.26mi
8331 Whitcomb St Detroit, MI	4.0	1.0	1342	$1,350	$1.01	22d	1	1.34mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	0d	1	1.35mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	21d	1	1.37mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	17d	1	1.38mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	1.41mi

Listing history 20 events

1. 2025-12-03
   status Pending 280-char remark

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

2. 2025-12-03
   status Pending

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

3. 2025-12-01
   price $69,900 280-char remark

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

4. 2025-12-01
   price $69,900

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

5. 2025-11-25
   price $75,900 280-char remark

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

6. 2025-11-25
   price $75,900

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

7. 2025-11-21
   status Active 280-char remark

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

8. 2025-11-21
   status Active

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

9. 2025-11-08
   status Pending 280-char remark

   Show marketing remark (280 chars)

   Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

10. 2025-11-08
    status Pending

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

11. 2025-11-03
    price $79,900 280-char remark

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

12. 2025-11-03
    price $79,900

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

13. 2025-10-27
    price $84,900 280-char remark

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

14. 2025-10-27
    price $84,900

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

15. 2025-10-13
    price $89,900 280-char remark

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

16. 2025-10-13
    price $89,900

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

17. 2025-09-29
    listed $95,900 Active

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

18. 2025-09-29
    listed $95,900 Active 280-char remark

    Show marketing remark (280 chars)

    Brick 2-Family property looking for a new owner. Tenant occupied in both units, Tenants have been there 8 years and willing to stay. Tenants are related to each other. The lower unit bathroom needs some drywall ceiling repair, which can be negotiated or repaired prior to closing.

19. 2006-06-13
    soldstatus $95,000
20. 2004-01-12
    soldstatus $83,000

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $930 · $78/mo
• Expected delta: +$146/yr (+$12/mo · 18.7%)

ⓘ 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,021
• − Mortgage interest: −$3,915
• − Property taxes: −$784
• − Insurance: −$350
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$2,033
• Taxable income: $8,895
• Est. tax owed @ 24.0%: −$2,135
• After-tax cash flow: $7,360/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

-15.8% since first listed

20 events — show timeline

• 2025-12-03 Pending — MiRealSource-MiMLS
• 2025-12-03 Pending — REALCOMP
• 2025-12-01 Price Changed $69,900 MiRealSource-MiMLS
• 2025-12-01 Price Changed $69,900 REALCOMP
• 2025-11-25 Price Changed $75,900 MiRealSource-MiMLS
• 2025-11-25 Price Changed $75,900 REALCOMP
• 2025-11-21 Relisted — MiRealSource-MiMLS
• 2025-11-21 Relisted — REALCOMP
• 2025-11-08 Pending — MiRealSource-MiMLS
• 2025-11-08 Pending — REALCOMP
• 2025-11-03 Price Changed $79,900 MiRealSource-MiMLS
• 2025-11-03 Price Changed $79,900 REALCOMP
• 2025-10-27 Price Changed $84,900 MiRealSource-MiMLS
• 2025-10-27 Price Changed $84,900 REALCOMP
• 2025-10-13 Price Changed $89,900 MiRealSource-MiMLS
• 2025-10-13 Price Changed $89,900 REALCOMP
• 2025-09-29 Listed $95,900 REALCOMP
• 2025-09-29 Listed $95,900 MiRealSource-MiMLS
• 2006-06-13 Sold (Public Records) $95,000 Public Records
• 2004-01-12 Sold (Public Records) $83,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $784 · -43.9% YoY. Source: county tax records.