776 Woodmere St · Detroit, MI 48209

$139,900

4 bd · 2.0 ba · 1,966 sqft · Townhouse public records · 871 Days on market

Built 1927 6,970 sqft lot $71/sqft · 13% above area Est $124k · 13% over

---

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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Schools +1.3/10.0

Listing remarks MLS

Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

Key facts

• 6,970 sq ft lot
• Built 1927
• Listed 871 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $627 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (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: 69 active listings in the ZIP; 2 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 $1,936/mo this rent would consume 54% of the median local household income ($43k/yr) (locally 831% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($967 loan paydown + $14k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 871 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 11y 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 $90k; list at $140k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 871 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 1927 — 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: 1.38% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.22%
• DSCR: 1.86
• GRM: 6.0

CMA / ARV

• ARV (median comp): $124,308
• List price: $139,900
• Delta: 12.54%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 3.97×
• Total profit: $116,145
• Equity at exit: $126,033

10-year hold

• IRR: 33.2%
• Equity multiple: 8.93×
• Total profit: $310,582
• Equity at exit: $271,795

Cash invested: $39,172 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 69
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,936 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$110 /mo · $1,321/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $627

Break-even live

Break-even rent $1,142

Max offer price $139,900

Occupancy floor 63%

Sensitivity live

Price	-10% $707	-5% $667	+0% $627	+5% $588	+10% $548
Rent	-10% $475	-5% $551	+0% $627	+5% $704	+10% $780
Rate	-1.0pp $698	-0.5pp $663	base $627	+0.5pp $591	+1.0pp $554

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8804 Mason Pl Detroit, MI	5.0	2.0	1680	$2,800	$1.67	0d	1	0.60mi
1039 N Rademacher St Detroit, MI	3.0	1.0	2400	$1,300	$0.54	26d	1	1.33mi

Listing history 39 events

1. 2026-06-21
   days on market $139,900 Active 871 DOM
2. 2026-06-18
   days on market $139,900 Active 868 DOM
3. 2026-06-17
   days on market $139,900 Active 867 DOM
4. 2026-06-15
   days on market $139,900 Active 865 DOM
5. 2026-06-13
   days on market $139,900 Active 863 DOM
6. 2026-06-13
   days on market $139,900 Active 862 DOM
7. 2026-06-09
   days on market $139,900 Active 859 DOM
8. 2026-06-08
   days on market $139,900 Active 858 DOM
9. 2026-06-07
   days on market $139,900 Active 857 DOM
10. 2026-06-04
    days on market $139,900 Active 854 DOM
11. 2026-06-03
    days on market $139,900 Active 853 DOM
12. 2026-06-01
    days on market $139,900 Active 851 DOM
13. 2026-05-31
    days on market $139,900 Active 850 DOM
14. 2025-02-28
    price $139,900 515-char remark

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

15. 2025-02-28
    price $139,900 515-char remark

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

16. 2024-05-08
    price $134,900 515-char remark

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

17. 2024-05-07
    price $134,900 515-char remark

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

18. 2024-02-01
    listed $139,000 Active 515-char remark

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

19. 2024-02-01
    listed $139,000 Active 515-char remark

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

20. 2024-02-01
    historical

    Show marketing remark (515 chars)

    Wonderful opportunity to own this Brick two-unit property. Both units are basically the same living room, dining room, kitchen, two bedrooms, and one full bath. Hardwood floors throughout. OVERSIZED FENCED-IN YARD!! Both units are occupied with tenants on a MTM. Add this to your investment portfolio. Located in the up-and-coming SouthWest Detroit. Near great restaurants, local stores, and entertainment, and just a few minutes from the highway! You will not want to miss out on this one, book your showing today!

21. 2024-01-31
    historical
22. 2024-01-02
    status Active
23. 2024-01-02
    status Active
24. 2024-01-01
    historical
25. 2024-01-01
    historical
26. 2022-11-14
    price $139,000
27. 2022-11-11
    price $139,000
28. 2022-10-10
    listed $149,000 Active
29. 2022-10-10
    listed $149,000 Active
30. 2016-04-26
    historical
31. 2016-04-26
    historical
32. 2016-04-16
    listed $43,900 Active
33. 2015-11-22
    listed $43,900 Active
34. 2015-11-14
    historical
35. 2015-11-13
    historical
36. 2015-08-05
    listed $43,900 Active
37. 2015-08-04
    listed $43,900
38. 2006-11-21
    soldstatus $90,000
39. 2002-04-08
    soldstatus $30,000

ⓘ 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: $1,321 · $110/mo
• Projected year-2 tax: $1,738 · $145/mo
• Expected delta: +$417/yr (+$35/mo · 31.5%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,233
• − Mortgage interest: −$7,837
• − Property taxes: −$1,321
• − Insurance: −$700
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$4,070
• Taxable income: $5,588
• Est. tax owed @ 24.0%: −$1,341
• After-tax cash flow: $6,188/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• Rent YoY: —
• 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

+366.3% since first listed

26 events — show timeline

• 2025-02-28 Price Changed $139,900 MiRealSource-MiMLS
• 2025-02-28 Price Changed $139,900 REALCOMP
• 2024-05-08 Price Changed $134,900 MiRealSource-MiMLS
• 2024-05-07 Price Changed $134,900 REALCOMP
• 2024-02-01 Listing Removed — MiRealSource-MiMLS
• 2024-02-01 Listed $139,000 REALCOMP
• 2024-02-01 Listed $139,000 MiRealSource-MiMLS
• 2024-01-31 Listing Removed — REALCOMP
• 2024-01-02 Relisted — MiRealSource-MiMLS
• 2024-01-02 Relisted — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2022-11-14 Price Changed $139,000 MiRealSource-MiMLS
• 2022-11-11 Price Changed $139,000 REALCOMP
• 2022-10-10 Listed $149,000 MiRealSource-MiMLS
• 2022-10-10 Listed $149,000 REALCOMP
• 2016-04-26 Listing Removed — MiRealSource-MiMLS
• 2016-04-26 Listing Removed — REALCOMP
• 2016-04-16 Listed $43,900 MiRealSource-MiMLS
• 2015-11-22 Listed $43,900 REALCOMP
• 2015-11-14 Listing Removed — MiRealSource-MiMLS
• 2015-11-13 Listing Removed — REALCOMP
• 2015-08-05 Listed $43,900 REALCOMP
• 2015-08-04 Listed $43,900 MiRealSource-MiMLS
• 2006-11-21 Sold (Public Records) $90,000 Public Records
• 2002-04-08 Sold (Public Records) $30,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,321 · -32.8% YoY. Source: county tax records.