7349 Warwick St · Detroit, MI 48228

$165,000

5 bd · 1.0 ba · 1,480 sqft · SingleFamily public records · 19 Days on market

Built 1952 5,227 sqft lot $111/sqft · 102% above area Est $143k · 15% over

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Why this score? — see what drove the D 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 +20.4/30.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• ARV discount +0.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the charm of this cozy brick bungalow in the heart of the Warrendale area, conveniently close to major highways. Featuring 5 spacious bedrooms and 2 beautifully remodeled full bathrooms, this home combines comfort with style. It also includes a partial basement and a 2-car detached garage. Move-in ready and perfect for families or as a smart investment, this house is eagerly awaiting its next owner. Contact us to schedule a showing and see what makes this property so special!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1952

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Brick construction; Brick/mortar foundation; Built with brick exterior
• Exterior features: Paved road access; Lot approximately 0.12 acre (40 x 128)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Partially finished basement; 9 total rooms

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Neinas Dual Language Learning Academy (math 8% / reading 8%, grade F, #1,300 of 1,397 statewide, top 94%, 400 students, 85% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 86% FRL track the district average.
• Market conditions: Rents soft (-2.3%/yr); 367 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,662/mo this rent would consume 65% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $123k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.01% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (median comp): $143,290
• List price: $165,000
• Delta: 15.15%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6900 Westwood St	0.26mi	4/1.0 (-1)	1,500 (+1%)	1mo	$61,000	$41	80
7380 Plainview Ave	0.35mi	5/1.0	1,484 (+0%)	13mo	$90,000	$61	72
7415 Minock St	0.26mi	4/1.0 (-1)	1,356 (-8%)	9mo	$79,500	$59	62
6403 Westwood St	0.58mi	5/2.0	1,350 (-9%)	6mo	$69,900	$52	49
6380 Rosemont Ave	0.74mi	4/2.0 (-1)	1,600 (+8%)	5mo	$100,000	$63	39
7355 Fielding St	0.68mi	4/2.0 (-1)	1,668 (+13%)	4mo	$162,000	$97	34
6557 Heyden St	0.70mi	4/2.0 (-1)	1,651 (+12%)	10mo	$160,000	$97	31
6408 Auburn St	0.61mi	4/1.0 (-1)	1,300 (-12%)	19mo	$130,000	$100	30

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: -11.0%
• Equity multiple: 0.61×
• Total profit: $-17,916
• Equity at exit: $24,602

10-year hold

• IRR: -6.5%
• Equity multiple: 0.64×
• Total profit: $-16,798
• Equity at exit: $14,266

Cash invested: $46,200 (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: 367
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,662 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$164 /mo · $1,972/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $215

Break-even live

Break-even rent $1,390

Max offer price $165,000

Occupancy floor 82%

Sensitivity live

Price	-10% $308	-5% $262	+0% $215	+5% $168	+10% $122
Rent	-10% $84	-5% $149	+0% $215	+5% $281	+10% $346
Rate	-1.0pp $298	-0.5pp $257	base $215	+0.5pp $172	+1.0pp $129

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7312 Mansfield St Detroit, MI	4.0	1.0	1300	$1,400	$1.08	18d	1	1.28mi

Listing history 19 events

1. 2026-05-07
   status Pending 489-char remark

   Show marketing remark (489 chars)

   Discover the charm of this cozy brick bungalow in the heart of the Warrendale area, conveniently close to major highways. Featuring 5 spacious bedrooms and 2 beautifully remodeled full bathrooms, this home combines comfort with style. It also includes a partial basement and a 2-car detached garage. Move-in ready and perfect for families or as a smart investment, this house is eagerly awaiting its next owner. Contact us to schedule a showing and see what makes this property so special!

2. 2026-05-07
   status Pending 489-char remark

   Show marketing remark (489 chars)

   Discover the charm of this cozy brick bungalow in the heart of the Warrendale area, conveniently close to major highways. Featuring 5 spacious bedrooms and 2 beautifully remodeled full bathrooms, this home combines comfort with style. It also includes a partial basement and a 2-car detached garage. Move-in ready and perfect for families or as a smart investment, this house is eagerly awaiting its next owner. Contact us to schedule a showing and see what makes this property so special!

3. 2026-04-18
   listed $165,000 Active 489-char remark

   Show marketing remark (489 chars)

   Discover the charm of this cozy brick bungalow in the heart of the Warrendale area, conveniently close to major highways. Featuring 5 spacious bedrooms and 2 beautifully remodeled full bathrooms, this home combines comfort with style. It also includes a partial basement and a 2-car detached garage. Move-in ready and perfect for families or as a smart investment, this house is eagerly awaiting its next owner. Contact us to schedule a showing and see what makes this property so special!

4. 2026-04-18
   listed $165,000 Active 489-char remark

   Show marketing remark (489 chars)

   Discover the charm of this cozy brick bungalow in the heart of the Warrendale area, conveniently close to major highways. Featuring 5 spacious bedrooms and 2 beautifully remodeled full bathrooms, this home combines comfort with style. It also includes a partial basement and a 2-car detached garage. Move-in ready and perfect for families or as a smart investment, this house is eagerly awaiting its next owner. Contact us to schedule a showing and see what makes this property so special!

5. 2026-03-24
   historical
6. 2026-01-06
   price $155,000
7. 2026-01-05
   price $155,000
8. 2025-11-06
   listed $161,500 Active
9. 2025-11-06
   listed $161,500 Active
10. 2025-11-03
    historical
11. 2025-11-03
    price $161,500
12. 2024-03-30
    historical
13. 2024-03-30
    historical
14. 2024-01-10
    price $175,000
15. 2024-01-09
    price $175,000
16. 2023-12-20
    listed $155,000 Active
17. 2023-12-20
    listed $155,000 Active
18. 2006-08-08
    soldstatus $123,000
19. 1995-02-08
    soldstatus $38,000

ⓘ 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: $1,972 · $164/mo
• Projected year-2 tax: $2,256 · $188/mo
• Expected delta: +$285/yr (+$24/mo · 14.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,950
• − Mortgage interest: −$9,243
• − Property taxes: −$1,972
• − Insurance: −$825
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$4,800
• Taxable loss: −$82
• Est. tax savings @ 24.0%: +$20
• After-tax cash flow: $2,600/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

+334.2% since first listed

19 events — show timeline

• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — REALCOMP
• 2026-04-18 Listed $165,000 REALCOMP
• 2026-04-18 Listed $165,000 MiRealSource-MiMLS
• 2026-03-24 Listing Removed — MiRealSource-MiMLS
• 2026-01-06 Price Changed $155,000 MiRealSource-MiMLS
• 2026-01-05 Price Changed $155,000 REALCOMP
• 2025-11-06 Listed $161,500 MiRealSource-MiMLS
• 2025-11-06 Listed $161,500 REALCOMP
• 2025-11-03 Coming Soon — MiRealSource-MiMLS
• 2025-11-03 Price Changed $161,500 REALCOMP
• 2024-03-30 Listing Removed — MiRealSource-MiMLS
• 2024-03-30 Listing Removed — REALCOMP
• 2024-01-10 Price Changed $175,000 MiRealSource-MiMLS
• 2024-01-09 Price Changed $175,000 REALCOMP
• 2023-12-20 Listed $155,000 MiRealSource-MiMLS
• 2023-12-20 Listed $155,000 REALCOMP
• 2006-08-08 Sold (Public Records) $123,000 Public Records
• 1995-02-08 Sold (Public Records) $38,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,972 · -0.0% YoY. Source: county tax records.