6166 Farmbrook St · Detroit, MI 48224

$89,900

3 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 138 Days on market

Built 1946 4,356 sqft lot $84/sqft · 10% below area Est $99k · 10% 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 +11.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Nice Brick Bungalow on Detroit's East Side just minutes from Major freeways and downtown. Perfect as a rental property or a family home. Buyer to pay compliance fee to listing broker at close. Buyer's agent to verify all information. Room sizes estimated. Thank you for checking our listing.

Key facts

• 4,356 sq ft lot
• Built 1946
• Listed 138 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% 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 flat; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 37% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y 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.
• Current owner paid $7k; list at $90k implies a 1184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.01%
• DSCR: 1.85
• GRM: 5.4

CMA / ARV

• ARV (median comp): $99,403
• List price: $89,900
• Delta: -9.56%
• 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
18904 Mallina St	0.17mi	3/1.0	1,107 (+4%)	2mo	$85,575	$77	84
6135 Marseilles St	0.13mi	3/1.0	988 (-8%)	0mo	$55,000	$56	81
19134 Mallina St	0.30mi	3/1.0	1,032 (-4%)	2mo	$179,000	$173	78
21628 Newcastle Rd	0.54mi	3/1.0	1,079 (+1%)	0mo	$173,500	$161	73
21345 Newcastle Rd	0.54mi	3/2.0	1,092 (+2%)	0mo	$153,500	$141	67
9369 Sanilac St	0.51mi	3/1.0	1,124 (+5%)	1mo	$65,000	$58	67
21211 Newcastle Rd	0.55mi	3/1.0	1,120 (+5%)	2mo	$135,000	$121	65
6230 Oldtown St	0.54mi	3/1.0	1,149 (+7%)	2mo	$76,000	$66	61
5220 University Pl	0.56mi	2/1.0 (-1)	1,001 (-6%)	0mo	$40,000	$40	58
6106 Oldtown St	0.54mi	3/1.5	961 (-10%)	1mo	$132,000	$137	55
20244 Mccormick St	0.75mi	3/1.0	1,000 (-6%)	1mo	$75,000	$75	53
20300 Mccormick St	0.70mi	3/1.0	940 (-12%)	1mo	$60,000	$64	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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.31×
• Total profit: $7,808
• Equity at exit: $13,404

10-year hold

• IRR: 15.2%
• Equity multiple: 2.10×
• Total profit: $27,665
• Equity at exit: $7,773

Cash invested: $25,172 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,382 high
• Mortgage (P&I): −$471
• Tax from tax record: −$184 /mo · $2,206/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $399

Break-even live

Break-even rent $877

Max offer price $89,900

Occupancy floor 66%

Sensitivity live

Price	-10% $450	-5% $424	+0% $399	+5% $373	+10% $348
Rent	-10% $290	-5% $344	+0% $399	+5% $453	+10% $508
Rate	-1.0pp $444	-0.5pp $422	base $399	+0.5pp $375	+1.0pp $352

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	0d	1	0.12mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	14d	1	0.12mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.14mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	26d	1	0.17mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.23mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.23mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	0.34mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	0d	1	0.34mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.35mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.36mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	26d	1	0.37mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	45d	1	0.39mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	18d	1	0.39mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	26d	1	0.43mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	19d	1	0.49mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.50mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	0d	1	0.50mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,195	$1.60	0d	1	0.50mi
5233 Farmbrook St Detroit, MI	3.0	1.0	1449	$1,250	$0.86	0d	1	0.52mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.54mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	19d	1	0.55mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	4d	1	0.55mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	19d	1	0.56mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	4d	1	0.56mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	19d	1	0.57mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.67mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	19d	1	0.68mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.77mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	0.82mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	19d	1	0.83mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	14d	1	0.84mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.86mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.88mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	5d	1	0.89mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	45d	1	0.90mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.94mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	0.94mi
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	26d	1	1.02mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	1.09mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	1.09mi

Listing history 38 events

1. 2026-06-21
   days on market $89,900 Active 138 DOM
2. 2026-06-18
   days on market $89,900 Active 135 DOM
3. 2026-06-17
   days on market $89,900 Active 134 DOM
4. 2026-06-15
   days on market $89,900 Active 132 DOM
5. 2026-06-13
   days on market $89,900 Active 130 DOM
6. 2026-06-13
   days on market $89,900 Active 129 DOM
7. 2026-06-09
   days on market $89,900 Active 126 DOM
8. 2026-06-08
   days on market $89,900 Active 125 DOM
9. 2026-06-07
   days on market $89,900 Active 124 DOM
10. 2026-06-04
    days on market $89,900 Active 121 DOM
11. 2026-06-03
    days on market $89,900 Active 120 DOM
12. 2026-06-01
    days on market $89,900 Active 118 DOM
13. 2026-05-31
    days on market $89,900 Active 117 DOM
14. 2026-02-03
    historical
15. 2026-02-03
    historical
16. 2025-10-02
    listed $89,900 Active
17. 2025-10-02
    historical
18. 2025-10-02
    listed $89,900 Active
19. 2025-10-02
    historical
20. 2025-08-19
    listed $89,900 Active
21. 2025-08-18
    listed $89,900 Active
22. 2025-08-18
    listed $89,900 Active
23. 2025-08-18
    listed $89,900 Active
24. 2009-07-17
    soldstatus $7,000
25. 2009-07-17
    soldstatus $7,000
26. 2009-06-19
    historical
27. 2009-05-20
    listed $14,900
28. 2009-04-10
    listed $14,900
29. 2008-12-09
    historical
30. 2008-12-02
    listed $10,000
31. 2004-04-16
    soldstatus $89,000
32. 2003-09-20
    soldstatus $89,000
33. 2003-08-19
    historical
34. 2003-08-04
    listed $84,900
35. 1997-01-24
    soldstatus $42,000
36. 1996-10-28
    soldstatus $42,000
37. 1996-09-26
    historical
38. 1996-08-06
    listed $46,000

ⓘ 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: $2,206 · $184/mo
• Projected year-2 tax: $2,206 · $184/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,579
• − Mortgage interest: −$5,036
• − Property taxes: −$2,206
• − Insurance: −$450
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$2,615
• Taxable income: $3,620
• Est. tax owed @ 24.0%: −$869
• After-tax cash flow: $3,916/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+95.4% since first listed

25 events — show timeline

• 2026-02-03 Listing Removed — MiRealSource-MiMLS
• 2026-02-03 Listing Removed — REALCOMP
• 2025-10-02 Listing Removed — MiRealSource-MiMLS
• 2025-10-02 Listed $89,900 REALCOMP
• 2025-10-02 Listing Removed — REALCOMP
• 2025-10-02 Listed $89,900 MiRealSource-MiMLS
• 2025-08-19 Listed $89,900 REALCOMP
• 2025-08-18 Listed $89,900 MiRealSource-MiMLS
• 2025-08-18 Listed $89,900 MiRealSource-MiMLS
• 2025-08-18 Listed $89,900 REALCOMP
• 2009-07-17 Sold (MLS) $7,000 REALCOMP
• 2009-07-17 Sold (MLS) $7,000 MiRealSource-MiMLS
• 2009-06-19 Listing Removed — MiRealSource-MiMLS
• 2009-05-20 Listed $14,900 REALCOMP
• 2009-04-10 Listed $14,900 MiRealSource-MiMLS
• 2008-12-09 Listing Removed — REALCOMP
• 2008-12-02 Listed $10,000 REALCOMP
• 2004-04-16 Sold (Public Records) $89,000 Public Records
• 2003-09-20 Sold (MLS) $89,000 MiRealSource-MiMLS
• 2003-08-19 Listing Removed — MiRealSource-MiMLS
• 2003-08-04 Listed $84,900 MiRealSource-MiMLS
• 1997-01-24 Sold (Public Records) $42,000 Public Records
• 1996-10-28 Sold (MLS) $42,000 MiRealSource-MiMLS
• 1996-09-26 Listing Removed — MiRealSource-MiMLS
• 1996-08-06 Listed $46,000 MiRealSource-MiMLS

Property tax history

+3.5%/yr

Latest (2025): $2,206 · -54.3% YoY. Source: county tax records.