10500 Morang Dr · Detroit, MI 48224

$31,800

2 bd · 1.0 ba · 803 sqft · SingleFamily public records · 10 Days on market

Built 1947 4,356 sqft lot Est $53k · 40% 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 +15.0/15.0
• 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 MLS

Great opportunity to buy this one story home with a full basement built in 1947, located in Detroit, MI and sitting on a . 105 acre lot with a 2 car detached garage. The interior has 803 sq. ft. with 2 bedrooms and 1 bathroom and large living room with fireplace.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1947

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Cap rate 35.1% 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 flat; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 33% 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 $220 of loan paydown is wiped out by about $954 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 29y 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: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,800

Questions for the listing agent

1. Built in 1947 — 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. 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.
6. 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.
7. 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: 3.91% ✓
• Cap rate: 35.07%
• Cash-on-cash: 102.76%
• DSCR: 5.57
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $52,998
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10878 Balfour Rd	0.23mi	3/1.0 (+1)	784 (-2%)	6mo	$70,000	$89	76
11035 Worden St	0.27mi	3/1.0 (+1)	834 (+4%)	3mo	$55,000	$66	74
10704 Duprey St	0.23mi	3/1.0 (+1)	845 (+5%)	6mo	$104,000	$123	71
10670 Nottingham Rd	0.54mi	2/1.0	827 (+3%)	5mo	$35,000	$42	66
6183 Woodhall St	0.48mi	3/1.0 (+1)	720 (-10%)	1mo	$32,000	$44	54
11624 Wayburn St	0.66mi	3/1.0 (+1)	756 (-6%)	3mo	$17,000	$22	52
11490 Somerset Ave	0.33mi	3/1.0 (+1)	915 (+14%)	4mo	$70,000	$77	52
12075 Rossiter St	0.66mi	3/1.0 (+1)	851 (+6%)	4mo	$45,000	$53	51
6156 Lodewyck St	0.68mi	3/1.0 (+1)	900 (+12%)	1mo	$51,000	$57	43
19379 Mccormick St	0.70mi	2/1.0	696 (-13%)	4mo	$118,900	$171	42
19239 Beaconsfield St	0.70mi	3/1.0 (+1)	900 (+12%)	5mo	$100,000	$111	38
12141 Wayburn St	0.71mi	3/1.0 (+1)	908 (+13%)	5mo	$11,000	$12	36

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: —
• Equity multiple: 5.57×
• Total profit: $40,653
• Equity at exit: $4,741

10-year hold

• IRR: —
• Equity multiple: 10.78×
• Total profit: $87,122
• Equity at exit: $2,749

Cash invested: $8,904 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,243 high
• Mortgage (P&I): −$167
• Tax est. 1.5%: −$40 /mo · $477/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $763

Break-even live

Break-even rent $278

Max offer price $31,800

Occupancy floor 34%

Sensitivity live

Price	-10% $784	-5% $773	+0% $763	+5% $752	+10% $741
Rent	-10% $664	-5% $713	+0% $763	+5% $812	+10% $861
Rate	-1.0pp $779	-0.5pp $771	base $763	+0.5pp $754	+1.0pp $746

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: $7,950
• Closing costs: $954
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.11mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.19mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.20mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.25mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.30mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	0.33mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.38mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.43mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.46mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.46mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.47mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.51mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.52mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.52mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.52mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.54mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.55mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.55mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.60mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.63mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.63mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	0.63mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	45d	1	0.64mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.64mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.65mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.67mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.72mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.74mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	25d	1	0.76mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	18d	1	0.76mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	45d	1	0.79mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	16d	1	0.81mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	0.83mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	25d	1	0.84mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	4d	1	0.86mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	25d	1	0.91mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.95mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.01mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	45d	1	1.06mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	1.11mi

Listing history 9 events

1. 2026-01-09
   status Pending 263-char remark

   Show marketing remark (263 chars)

   Great opportunity to buy this one story home with a full basement built in 1947, located in Detroit, MI and sitting on a . 105 acre lot with a 2 car detached garage. The interior has 803 sq. ft. with 2 bedrooms and 1 bathroom and large living room with fireplace.

2. 2026-01-09
   status Pending

   Show marketing remark (263 chars)

   Great opportunity to buy this one story home with a full basement built in 1947, located in Detroit, MI and sitting on a . 105 acre lot with a 2 car detached garage. The interior has 803 sq. ft. with 2 bedrooms and 1 bathroom and large living room with fireplace.

3. 2025-12-30
   listed $31,800 Active 263-char remark

   Show marketing remark (263 chars)

   Great opportunity to buy this one story home with a full basement built in 1947, located in Detroit, MI and sitting on a . 105 acre lot with a 2 car detached garage. The interior has 803 sq. ft. with 2 bedrooms and 1 bathroom and large living room with fireplace.

4. 2025-12-30
   listed $31,800 Active

   Show marketing remark (263 chars)

   Great opportunity to buy this one story home with a full basement built in 1947, located in Detroit, MI and sitting on a . 105 acre lot with a 2 car detached garage. The interior has 803 sq. ft. with 2 bedrooms and 1 bathroom and large living room with fireplace.

5. 1998-03-25
   soldstatus $66,000
6. 1998-01-27
   soldstatus $66,000
7. 1997-11-26
   historical
8. 1997-11-15
   listed $67,900
9. 1993-07-19
   soldstatus $25,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥95°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: $14,921
• − Mortgage interest: −$1,781
• − Property taxes: −$477
• − Insurance: −$159
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$925
• Taxable income: $9,191
• Est. tax owed @ 24.0%: −$2,206
• After-tax cash flow: $6,944/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

+27.2% since first listed

9 events — show timeline

• 2026-01-09 Pending — MiRealSource-MiMLS
• 2026-01-09 Pending — REALCOMP
• 2025-12-30 Listed $31,800 REALCOMP
• 2025-12-30 Listed $31,800 MiRealSource-MiMLS
• 1998-03-25 Sold (Public Records) $66,000 Public Records
• 1998-01-27 Sold (MLS) $66,000 MiRealSource-MiMLS
• 1997-11-26 Listing Removed — MiRealSource-MiMLS
• 1997-11-15 Listed $67,900 MiRealSource-MiMLS
• 1993-07-19 Sold (Public Records) $25,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,810 · -39.8% YoY. Source: county tax records.