9744 Lakepointe St · Detroit, MI 48224

$89,000

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 120 Days on market

Built 1938 6,098 sqft lot $107/sqft · 72% above area

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• 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

Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don't miss this opportunity!

Key facts

• Updated kitchen
• Updated bathroom
• 6,098 sq ft lot

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% 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; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 31% 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 $615 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.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 7y ago; this cycle's ask is 7991% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $32k; list at $89k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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: 1.31% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.02%
• DSCR: 1.67
• GRM: 6.4

CMA / ARV

• ARV (median comp): $51,682
• List price: $89,000
• Delta: 72.21%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9459 Lakepointe St	0.11mi	3/1.0 (+1)	855 (+3%)	2mo	$40,000	$47	83
9755 Somerset Ave	0.25mi	2/1.0	852 (+3%)	15mo	$65,000	$76	71
10058 Greensboro St	0.14mi	3/1.0 (+1)	928 (+12%)	3mo	$40,000	$43	66
10670 Nottingham Rd	0.72mi	2/1.0	827 (-0%)	5mo	$35,000	$42	62
9419 Beaconsfield St	0.18mi	3/1.0 (+1)	946 (+14%)	13mo	$85,000	$90	52
14531 Promenade St	0.54mi	2/1.0	741 (-10%)	8mo	$19,000	$26	50
14981 Flanders St	0.73mi	2/1.0	755 (-9%)	1mo	$30,005	$40	50
15001 Flanders St	0.72mi	2/1.0	769 (-7%)	6mo	$80,000	$104	49
9220 King Richard St	0.60mi	2/1.0	893 (+8%)	13mo	$42,000	$47	48
14227 Elmdale St	0.63mi	3/1.0 (+1)	880 (+6%)	13mo	$27,000	$31	44
11384 Stockwell St	0.62mi	3/1.0 (+1)	922 (+11%)	13mo	$30,000	$33	36
10979 Roxbury St	0.70mi	3/1.0 (+1)	925 (+12%)	9mo	$55,000	$59	35

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: 3.0%
• Equity multiple: 1.11×
• Total profit: $2,849
• Equity at exit: $13,270

10-year hold

• IRR: 10.3%
• Equity multiple: 1.72×
• Total profit: $17,900
• Equity at exit: $7,695

Cash invested: $24,920 (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: 484
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$467
• Tax from tax record: −$106 /mo · $1,269/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $312

Break-even live

Break-even rent $772

Max offer price $89,000

Occupancy floor 68%

Sensitivity live

Price	-10% $362	-5% $337	+0% $312	+5% $287	+10% $261
Rent	-10% $220	-5% $266	+0% $312	+5% $358	+10% $404
Rate	-1.0pp $357	-0.5pp $334	base $312	+0.5pp $289	+1.0pp $265

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.08mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.11mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.14mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	0.24mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.28mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	0.42mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.51mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.63mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.73mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	44d	1	0.74mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.81mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.84mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	0.87mi
5284 Devonshire Rd Unit 2 Detroit, MI	1.0	1.0	750	$1,050	$1.40	15d	1	0.87mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.88mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	5d	1	0.88mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.90mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.91mi
5025 Somerset Ave Detroit, MI	1.0	1.0	772	$900	$1.17	44d	1	0.91mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.92mi
5076 Chalmers St Unit 5074 Detroit, MI	1.0	1.0	700	$925	$1.32	25d	1	0.99mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	1.00mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	2d	1	1.03mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.03mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.04mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.05mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	1.10mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.10mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.14mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	1.15mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	1.15mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	15d	1	1.18mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	1.20mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.23mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	1.25mi
16530 E Warren Ave Unit 209 Detroit, MI	1.0	1.0	850	$1,292	$1.52	44d	1	1.26mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	1.26mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	1.28mi
4667 Eastlawn St Detroit, MI	3.0	1.0	646	$1,095	$1.70	4d	1	1.34mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	1.34mi

Listing history 45 events

1. 2026-06-18
   days on market $89,000 Active 120 DOM
2. 2026-06-17
   days on market $89,000 Active 119 DOM
3. 2026-06-15
   days on market $89,000 Active 117 DOM
4. 2026-06-13
   days on market $89,000 Active 115 DOM
5. 2026-06-13
   days on market $89,000 Active 114 DOM
6. 2026-06-09
   days on market $89,000 Active 111 DOM
7. 2026-06-08
   days on market $89,000 Active 110 DOM
8. 2026-06-07
   days on market $89,000 Active 109 DOM
9. 2026-06-04
   days on market $89,000 Active 106 DOM
10. 2026-06-03
    days on market $89,000 Active 105 DOM
11. 2026-06-01
    days on market $89,000 Active 103 DOM
12. 2026-05-31
    days on market $89,000 Active 102 DOM
13. 2026-04-22
    historical $1,100
14. 2026-03-31
    price $89,000 346-char remark

    Show marketing remark (352 chars)

    Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don’t miss this opportunity!

15. 2026-03-31
    price $89,000 352-char remark

    Show marketing remark (352 chars)

    Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don’t miss this opportunity!

16. 2026-03-26
    listed $1,100
17. 2026-02-26
    price $99,000 346-char remark

    Show marketing remark (352 chars)

    Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don’t miss this opportunity!

18. 2026-02-26
    price $99,000 352-char remark

    Show marketing remark (352 chars)

    Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don’t miss this opportunity!

19. 2026-02-18
    listed $105,000 Active 346-char remark

    Show marketing remark (352 chars)

    Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don’t miss this opportunity!

20. 2026-02-18
    listed $105,000 Active 352-char remark

    Show marketing remark (352 chars)

    Fantastic opportunity in a desirable location! This 2 bedroom, 1 bath bungalow features a comfortable layout with a generous living space and upper level bedrooms. The kitchen and bathroom were updated in 2025, adding fresh appeal to the home. Ideal for investors or owner occupants looking for value and convenience. Don’t miss this opportunity!

21. 2024-04-26
    soldstatus $32,000 Sold
22. 2024-04-26
    soldstatus $32,000 Closed
23. 2024-04-05
    status Pending
24. 2024-04-05
    status Pending
25. 2024-03-19
    price $35,000
26. 2024-03-19
    price $35,000
27. 2024-01-22
    status Active
28. 2024-01-22
    status Active
29. 2024-01-11
    status Pending
30. 2024-01-11
    status Pending
31. 2024-01-02
    status Active
32. 2024-01-02
    status Active
33. 2023-12-28
    status Pending
34. 2023-12-28
    status Pending
35. 2023-12-18
    status Active
36. 2023-12-18
    status Active
37. 2023-12-12
    status Pending
38. 2023-12-12
    status Pending
39. 2023-11-17
    listed $38,000 Active
40. 2023-11-17
    listed $38,000 Active
41. 2019-05-15
    soldstatus $58,000
42. 2019-02-14
    soldstatus $18,000 Closed
43. 2019-02-14
    soldstatus $18,000
44. 2019-02-14
    listed $18,000 Active
45. 2019-02-14
    listed $18,000

ⓘ 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: $1,269 · $106/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$51/yr (+$4/mo · 4.0%)

ⓘ 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 ≥95°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: $13,996
• − Mortgage interest: −$4,985
• − Property taxes: −$1,269
• − Insurance: −$445
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$2,589
• Taxable income: $2,468
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $3,150/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

-93.9% since first listed

33 events — show timeline

• 2026-04-22 Rental Removed $1,100 REALSOURCE
• 2026-03-31 Price Changed $89,000 MiRealSource-MiMLS
• 2026-03-31 Price Changed $89,000 REALCOMP
• 2026-03-26 Listed for Rent $1,100 REALSOURCE
• 2026-02-26 Price Changed $99,000 MiRealSource-MiMLS
• 2026-02-26 Price Changed $99,000 REALCOMP
• 2026-02-18 Listed $105,000 REALCOMP
• 2026-02-18 Listed $105,000 MiRealSource-MiMLS
• 2024-04-26 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2024-04-26 Sold (MLS) $32,000 REALCOMP
• 2024-04-05 Pending — MiRealSource-MiMLS
• 2024-04-05 Pending — REALCOMP
• 2024-03-19 Price Changed $35,000 MiRealSource-MiMLS
• 2024-03-19 Price Changed $35,000 REALCOMP
• 2024-01-22 Relisted — MiRealSource-MiMLS
• 2024-01-22 Relisted — REALCOMP
• 2024-01-11 Pending — MiRealSource-MiMLS
• 2024-01-11 Pending — REALCOMP
• 2024-01-02 Relisted — MiRealSource-MiMLS
• 2024-01-02 Relisted — REALCOMP
• 2023-12-28 Pending — MiRealSource-MiMLS
• 2023-12-28 Pending — REALCOMP
• 2023-12-18 Relisted — MiRealSource-MiMLS
• 2023-12-18 Relisted — REALCOMP
• 2023-12-12 Pending — MiRealSource-MiMLS
• 2023-12-12 Pending — REALCOMP
• 2023-11-17 Listed $38,000 MiRealSource-MiMLS
• 2023-11-17 Listed $38,000 REALCOMP
• 2019-05-15 Sold (Public Records) $58,000 Public Records
• 2019-02-14 Listed $18,000 REALCOMP
• 2019-02-14 Listed $18,000 MiRealSource-MiMLS
• 2019-02-14 Sold (MLS) $18,000 REALCOMP
• 2019-02-14 Sold (MLS) $18,000 MiRealSource-MiMLS

Property tax history

+0.1%/yr

Latest (2025): $1,269 · -25.6% YoY. Source: county tax records.