11369 Warwick St · Detroit, MI 48228

$72,500

3 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 85 Days on market

Built 1950 5,663 sqft lot $69/sqft · at area comps Est $73k · at est.

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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 +7.7/15.0
• 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

Listing remarks MLS

TENANT OCCUPIED BRICK BUNGALOW HOME LOCATED SOUTH OF PLYMOUTH AND WEST OF SOUTHFIELD. THIS HOME FEATURES AN INVITING LIVIGN ROOM, LARGE EAT-IN KITCHEN, DECENT SIZED BEDROOMS, LARGE PRIMARY BEDROOM ON THE SECOND FLOOR, AND AN UNFINISHED BASEMENT. THE TENANT HAS BEEN IN THE HOME SINCE 2024 AND LEASE ENDS 2/4/27. THE MONTHLY RENT IS 1050/MONTH WITH A 950 SEC. DEP. HELD. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• 5,663 sq ft lot
• Built 1950
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $68k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $1,215/mo this rent would consume 48% 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 $501 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 + 0.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,150 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.68% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.53%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (median comp): $72,893
• List price: $72,500
• Delta: -0.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9934 Warwick St	0.19mi	3/1.0	1,018 (-3%)	2mo	$70,000	$69	84
9976 Warwick St	0.16mi	3/1.5	1,024 (-2%)	4mo	$129,900	$127	84
11658 Ashton Ave	0.55mi	3/1.0	1,080 (+3%)	0mo	$89,000	$82	69
10006 Auburn St	0.31mi	3/1.0	1,150 (+10%)	1mo	$63,000	$55	69
11700 Auburn St	0.35mi	3/1.5	964 (-8%)	3mo	$55,000	$57	66
9317 Artesian St	0.51mi	2/1.0 (-1)	994 (-5%)	1mo	$25,000	$25	62
9977 Evergreen Ave	0.46mi	3/1.0	1,150 (+10%)	2mo	$86,000	$75	61
9570 Westwood St	0.36mi	3/1.0	1,188 (+13%)	1mo	$80,000	$67	60
11646 Glastonbury Ave	0.26mi	3/2.0	1,189 (+13%)	4mo	$50,000	$42	58
9221 Grandville Ave	0.62mi	3/1.0	971 (-8%)	2mo	$135,000	$139	57
9534 Heyden St	0.65mi	3/1.0	960 (-9%)	3mo	$100,000	$104	53
9634 Evergreen Ave	0.48mi	3/1.0	912 (-13%)	3mo	$23,000	$25	53

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: 13.9%
• Equity multiple: 1.54×
• Total profit: $10,861
• Equity at exit: $10,810

10-year hold

• IRR: 20.2%
• Equity multiple: 2.45×
• Total profit: $29,529
• Equity at exit: $6,268

Cash invested: $20,300 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$380
• Tax from tax record: −$84 /mo · $1,004/yr
• Insurance: −$30
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $410

Break-even live

Break-even rent $696

Max offer price $72,500

Occupancy floor 61%

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	0.33mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	0.43mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	18d	1	0.46mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	22d	1	0.46mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	43d	1	0.49mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	0.53mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.56mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	43d	1	0.68mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	43d	1	0.72mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	0.82mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.83mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.83mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.83mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.84mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.84mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.84mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.84mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.85mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.88mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	0.88mi
10030 Abington Ave Detroit, MI	4.0	2.0	1350	$1,475	$1.09	11d	1	0.90mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.92mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	43d	1	0.92mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.94mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.95mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	0.95mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.96mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	0.97mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	1.00mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	1.05mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	43d	1	1.05mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.06mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	43d	1	1.06mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.06mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.07mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.07mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.08mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	1.16mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	1.17mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	43d	1	1.19mi

Listing history 22 events

1. 2026-06-17
   days on market $72,500 Active 85 DOM
2. 2026-06-15
   days on market $72,500 Active 83 DOM
3. 2026-06-13
   days on market $72,500 Active 81 DOM
4. 2026-06-13
   days on market $72,500 Active 80 DOM
5. 2026-06-09
   days on market $72,500 Active 77 DOM
6. 2026-06-08
   days on market $72,500 Active 76 DOM
7. 2026-06-07
   days on market $72,500 Active 75 DOM
8. 2026-06-04
   days on market $72,500 Active 72 DOM
9. 2026-06-03
   days on market $72,500 Active 71 DOM
10. 2026-06-02
    days on market $72,500 Active 70 DOM
11. 2026-06-01
    days on market $72,500 Active 69 DOM
12. 2026-05-31
    days on market $72,500 Active 68 DOM
13. 2026-03-24
    listed $72,500 Active 567-char remark

    Show marketing remark (567 chars)

    TENANT OCCUPIED BRICK BUNGALOW HOME LOCATED SOUTH OF PLYMOUTH AND WEST OF SOUTHFIELD. THIS HOME FEATURES AN INVITING LIVIGN ROOM, LARGE EAT-IN KITCHEN, DECENT SIZED BEDROOMS, LARGE PRIMARY BEDROOM ON THE SECOND FLOOR, AND AN UNFINISHED BASEMENT. THE TENANT HAS BEEN IN THE HOME SINCE 2024 AND LEASE ENDS 2/4/27. THE MONTHLY RENT IS 1050/MONTH WITH A 950 SEC. DEP. HELD. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

14. 2026-03-24
    listed $72,500 Active 567-char remark

    Show marketing remark (567 chars)

    TENANT OCCUPIED BRICK BUNGALOW HOME LOCATED SOUTH OF PLYMOUTH AND WEST OF SOUTHFIELD. THIS HOME FEATURES AN INVITING LIVIGN ROOM, LARGE EAT-IN KITCHEN, DECENT SIZED BEDROOMS, LARGE PRIMARY BEDROOM ON THE SECOND FLOOR, AND AN UNFINISHED BASEMENT. THE TENANT HAS BEEN IN THE HOME SINCE 2024 AND LEASE ENDS 2/4/27. THE MONTHLY RENT IS 1050/MONTH WITH A 950 SEC. DEP. HELD. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

15. 2024-01-20
    historical $950
16. 2024-01-17
    listed $950
17. 2024-01-17
    historical $950
18. 2023-12-28
    listed $950
19. 2023-12-28
    historical $950
20. 2023-12-19
    price $950
21. 2023-12-13
    price $1,000
22. 2023-11-23
    listed $1,050

ⓘ 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: $1,004 · $84/mo
• Projected year-2 tax: $1,060 · $88/mo
• Expected delta: +$56/yr (+$5/mo · 5.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $14,579
• − Mortgage interest: −$4,061
• − Property taxes: −$1,004
• − Insurance: −$1,029
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$2,109
• Taxable income: $4,043
• Est. tax owed @ 24.0%: −$970
• After-tax cash flow: $3,951/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

+6804.8% since first listed

10 events — show timeline

• 2026-03-24 Listed $72,500 REALCOMP
• 2026-03-24 Listed $72,500 MiRealSource-MiMLS
• 2024-01-20 Rental Removed $950 APPFOLIO
• 2024-01-17 Listed for Rent $950 APPFOLIO
• 2024-01-17 Rental Removed $950 REALCOMP
• 2023-12-28 Listed for Rent $950 REALCOMP
• 2023-12-28 Rental Removed $950 APPFOLIO
• 2023-12-19 Price Changed $950 APPFOLIO
• 2023-12-13 Price Changed $1,000 APPFOLIO
• 2023-11-23 Listed for Rent $1,050 APPFOLIO

Property tax history

-1.3%/yr

Latest (2025): $1,004 · -53.7% YoY. Source: county tax records.