8700 Dexter Ave · Detroit, MI 48206

$69,900

4 bd · 4.0 ba · 3,968 sqft · Townhouse public records · 49 Days on market

Built 1923 4,792 sqft lot $18/sqft · 9% below area Est $77k · 9% under

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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
• ARV discount +11.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious two-story brick duplex at 8700 Dexter Avenue presents a remarkable investment opportunity in the heart of Detroit’s historic Dexter-Linwood area. Boasting nearly 4,000 square feet of living space, this 1917 built multi-family residence features a robust four-bedroom, four-bathroom layout perfect for generating consistent rental income or accommodating a large multi-generational family. Ideally situated just south of Joy Road and minutes from the M-10 Lodge Freeway, the property offers residents effortless access to downtown and the surrounding Metro area. With its timeless symmetrical facade and solid brick construction, this property stands as a prime canvas for those looking to capitalize on Detroit’s urban revitalization. Sold as is. Buyer and agent to verify all information. For the first 30-day period listing this property, the seller will only accept offers from Owner-Occupant Buyers, governmental entities, including their instrumentalities, and Nonprofit Organizations. '' Seller does not pay for closing costs which include but are not limited to buyer attorney's fees, title insurance premiums, transfer taxes, other title company misc charges property taxes, etc. Seller does not prorate taxes or pay any delinquent taxes or liens.

Key facts

• 4,792 sq ft lot
• Built 1923
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/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 29.5% 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 rising fast (+5.2%/yr); 271 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,368/mo this rent would consume 63% of the median local household income ($45k/yr) (locally 646% 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 + 5.2% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1923 — 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 49 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 1923 — 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: 3.39% ✓
• Cap rate: 29.47%
• Cash-on-cash: 82.77%
• DSCR: 4.68
• GRM: 2.5

CMA / ARV

• ARV (median comp): $76,887
• List price: $69,900
• Delta: -9.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 85.6%
• Equity multiple: 5.09×
• Total profit: $80,066
• Equity at exit: $10,422

10-year hold

• IRR: 89.3%
• Equity multiple: 11.41×
• Total profit: $203,660
• 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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,368 high
• Mortgage (P&I): −$367
• Tax from tax record: −$125 /mo · $1,500/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $1,350

Break-even live

Break-even rent $659

Max offer price $69,900

Occupancy floor 38%

Sensitivity live

Price	-10% $1,389	-5% $1,370	+0% $1,350	+5% $1,330	+10% $1,310
Rent	-10% $1,163	-5% $1,256	+0% $1,350	+5% $1,443	+10% $1,537
Rate	-1.0pp $1,385	-0.5pp $1,368	base $1,350	+0.5pp $1,332	+1.0pp $1,313

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	2d	1	0.57mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	17d	1	0.92mi
7370 La Salle Blvd Detroit, MI	4.0	3.0	3610	$4,500	$1.25	44d	1	0.93mi
2286 Calvert St Detroit, MI	4.0	1.0	3402	$1,450	$0.43	15d	1	1.10mi
3259 Cortland St Detroit, MI	3.0	1.0	3900	$1,500	$0.38	44d	1	1.35mi

Listing history 9 events

1. 2026-06-04
   status $69,900 Pending 49 DOM
2. 2026-06-03
   days on market $69,900 Active 49 DOM
3. 2026-06-02
   days on market $69,900 Active 48 DOM
4. 2026-06-01
   days on market $69,900 Active 47 DOM
5. 2026-05-31
   days on market $69,900 Active 46 DOM
6. 2026-05-06
   status Active 1281-char remark

   Show marketing remark (1281 chars)

   This spacious two-story brick duplex at 8700 Dexter Avenue presents a remarkable investment opportunity in the heart of Detroit’s historic Dexter-Linwood area. Boasting nearly 4,000 square feet of living space, this 1917 built multi-family residence features a robust four-bedroom, four-bathroom layout perfect for generating consistent rental income or accommodating a large multi-generational family. Ideally situated just south of Joy Road and minutes from the M-10 Lodge Freeway, the property offers residents effortless access to downtown and the surrounding Metro area. With its timeless symmetrical facade and solid brick construction, this property stands as a prime canvas for those looking to capitalize on Detroit’s urban revitalization. Sold as is. Buyer and agent to verify all information. For the first 30-day period listing this property, the seller will only accept offers from Owner-Occupant Buyers, governmental entities, including their instrumentalities, and Nonprofit Organizations. '' Seller does not pay for closing costs which include but are not limited to buyer attorney's fees, title insurance premiums, transfer taxes, other title company misc charges property taxes, etc. Seller does not prorate taxes or pay any delinquent taxes or liens.

7. 2026-05-05
   historical 1281-char remark

   Show marketing remark (1281 chars)

   This spacious two-story brick duplex at 8700 Dexter Avenue presents a remarkable investment opportunity in the heart of Detroit’s historic Dexter-Linwood area. Boasting nearly 4,000 square feet of living space, this 1917 built multi-family residence features a robust four-bedroom, four-bathroom layout perfect for generating consistent rental income or accommodating a large multi-generational family. Ideally situated just south of Joy Road and minutes from the M-10 Lodge Freeway, the property offers residents effortless access to downtown and the surrounding Metro area. With its timeless symmetrical facade and solid brick construction, this property stands as a prime canvas for those looking to capitalize on Detroit’s urban revitalization. Sold as is. Buyer and agent to verify all information. For the first 30-day period listing this property, the seller will only accept offers from Owner-Occupant Buyers, governmental entities, including their instrumentalities, and Nonprofit Organizations. '' Seller does not pay for closing costs which include but are not limited to buyer attorney's fees, title insurance premiums, transfer taxes, other title company misc charges property taxes, etc. Seller does not prorate taxes or pay any delinquent taxes or liens.

8. 2026-04-09
   listed $69,900 Active 1281-char remark

   Show marketing remark (1269 chars)

   This spacious two-story brick duplex at 8700 Dexter Avenue presents a remarkable investment opportunity in the heart of Detroit's historic Dexter-Linwood area. Boasting nearly 4,000 square feet of living space, this 1917 built multi-family residence features a robust four-bedroom, four-bathroom layout perfect for generating consistent rental income or accommodating a large multi-generational family. Ideally situated just south of Joy Road and minutes from the M-10 Lodge Freeway, the property offers residents effortless access to downtown and the surrounding Metro area. With its timeless symmetrical facade and solid brick construction, this property stands as a prime canvas for those looking to capitalize on Detroit's urban revitalization. Sold as is. Buyer and agent to verify all information. For the first 30-day period listing this property, the seller will only accept offers from Owner-Occupant Buyers, governmental entities, including their instrumentalities, and Nonprofit Organizations. '' Seller does not pay for closing costs which include but are not limited to buyer attorney's fees, title insurance premiums, transfer taxes, other title company misc charges property taxes, etc. Seller does not prorate taxes or pay any delinquent taxes or liens.

9. 2026-04-09
   listed $69,900 Active 1269-char remark

   Show marketing remark (1269 chars)

   This spacious two-story brick duplex at 8700 Dexter Avenue presents a remarkable investment opportunity in the heart of Detroit's historic Dexter-Linwood area. Boasting nearly 4,000 square feet of living space, this 1917 built multi-family residence features a robust four-bedroom, four-bathroom layout perfect for generating consistent rental income or accommodating a large multi-generational family. Ideally situated just south of Joy Road and minutes from the M-10 Lodge Freeway, the property offers residents effortless access to downtown and the surrounding Metro area. With its timeless symmetrical facade and solid brick construction, this property stands as a prime canvas for those looking to capitalize on Detroit's urban revitalization. Sold as is. Buyer and agent to verify all information. For the first 30-day period listing this property, the seller will only accept offers from Owner-Occupant Buyers, governmental entities, including their instrumentalities, and Nonprofit Organizations. '' Seller does not pay for closing costs which include but are not limited to buyer attorney's fees, title insurance premiums, transfer taxes, other title company misc charges property taxes, etc. Seller does not prorate taxes or pay any delinquent taxes or liens.

ⓘ 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: $1,500 · $125/mo
• Projected year-2 tax: $1,500 · $125/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $28,415
• − Mortgage interest: −$3,915
• − Property taxes: −$1,500
• − Insurance: −$350
• − Repairs & maintenance: −$2,273
• − Management: −$2,273
• − Depreciation: −$2,033
• Taxable income: $16,070
• Est. tax owed @ 24.0%: −$3,857
• After-tax cash flow: $12,342/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-06 Relisted — REALCOMP
• 2026-05-05 Listing Removed — REALCOMP
• 2026-04-09 Listed $69,900 MiRealSource-MiMLS
• 2026-04-09 Listed $69,900 REALCOMP

Property tax history

-1.2%/yr

Latest (2025): $1,500 · -50.4% YoY. Source: county tax records.