2916 Dickerson St · Detroit, MI 48215

$16,000

3 bd · 1.5 ba · 1,528 sqft · SingleFamily public records · 15 Days on market

Built 1925 4,356 sqft lot $10/sqft · 74% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2916 Dickerson Detroit MI 48215 Located near the desirable Jefferson Chalmers neighborhood, this 3-bedroom brick single-family home offers a solid layout and strong upside potential in an established residential pocket of Detroit. The property features classic brick construction, a fenced backyard, and a 1.5-car garage, making it an excellent candidate for a full renovation project. Significant fire damage has caused the need for a full roof replacement required (down to plywood and roof beams), Interior requires complete rehab, this is a true value-add opportunity ideal for: Investors, Contractors, Developers, Builders and Rehab specialists. With the right vision, this property can be restored and repositioned to capture value in a growing area.

Key facts

• Brick construction
• Fenced backyard
• Growing area

Tags

• BRICK CONSTRUCTION
• FENCED BACKYARD
• FULL RENOVATION PROJECT
• VALUE-ADD OPPORTUNITY
• GROWING AREA

Property features AI

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story home; Ground-level entry with steps; Brick and vinyl siding exterior
• Construction: Block foundation
• Exterior features: Back yard fencing; Paved road access

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Recommended offer: $16k (1.5% below list) — sets the bar for market timing.
• Cap rate 77.9% vs local median 10.2% 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: 137 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $111 of loan paydown is wiped out by about $480 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 + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 5y ago; this cycle's ask has dropped $1k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,760 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 8.42% ✓
• Cap rate: 77.87%
• Cash-on-cash: 255.62%
• DSCR: 12.37
• GRM: 1.0

CMA / ARV

• ARV (median comp): $62,536
• List price: $16,000
• Delta: -72.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2525 Eastlawn St	0.31mi	3/2.0	1,554 (+2%)	19mo	$86,500	$56	65
2145 Newport St	0.43mi	3/1.0	1,449 (-5%)	11mo	$68,000	$47	60
1315 Newport St	0.58mi	4/1.0 (+1)	1,364 (-11%)	0mo	$10,000	$7	48
4312 Gray St	0.57mi	3/1.5	1,336 (-13%)	24mo	$57,000	$43	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.99×
• Total profit: $58,209
• Equity at exit: $2,386

10-year hold

• IRR: —
• Equity multiple: 29.80×
• Total profit: $129,036
• Equity at exit: $1,383

Cash invested: $4,480 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$84
• Tax est. 1.5%: −$20 /mo · $240/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $954

Break-even live

Break-even rent $140

Max offer price $16,000

Occupancy floor 24%

Sensitivity live

Price	-10% $965	-5% $960	+0% $954	+5% $949	+10% $943
Rent	-10% $848	-5% $901	+0% $954	+5% $1,008	+10% $1,061
Rate	-1.0pp $962	-0.5pp $958	base $954	+0.5pp $950	+1.0pp $946

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1334 Maryland St Grosse Pointe Park, MI	2.0	1.0	1786	$1,200	$0.67	18d	1	0.87mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.95mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	44d	1	1.01mi
1236 Beaconsfield Ave Unit 1 Grosse Pointe Park, MI	2.0	1.0	1100	$1,600	$1.45	24d	1	1.04mi
1312 Somerset Ave Grosse Pointe Park, MI	2.0	1.0	1200	$1,400	$1.17	17d	1	1.13mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	44d	1	1.14mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	24d	1	1.20mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	22d	1	1.20mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.23mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	18d	1	1.34mi
13010 Avondale St Detroit, MI	1.0–2.0	1.0–2.0	1003	$1,725	$1.72	2d	1	1.37mi
861 Beaconsfield Ave Grosse Pointe Park, MI	2.0	1.0	1300	$1,500	$1.15	13d	1	1.40mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	44d	1	1.49mi

Listing history 31 events

1. 2026-06-18
   days on market $16,000 Active 15 DOM
2. 2026-06-17
   days on market $16,000 Active 14 DOM
3. 2026-06-16
   days on market $16,000 Active 13 DOM
4. 2026-06-15
   days on market $16,000 Active 12 DOM
5. 2026-06-13
   days on market $16,000 Active 10 DOM
6. 2026-06-13
   days on market $16,000 Active 9 DOM
7. 2026-06-09
   pricedays on market $16,000 Active 6 DOM

   Show marketing remark (756 chars)

   2916 Dickerson Detroit MI 48215 Located near the desirable Jefferson Chalmers neighborhood, this 3-bedroom brick single-family home offers a solid layout and strong upside potential in an established residential pocket of Detroit. The property features classic brick construction, a fenced backyard, and a 1.5-car garage, making it an excellent candidate for a full renovation project. Significant fire damage has caused the need for a full roof replacement required (down to plywood and roof beams), Interior requires complete rehab, this is a true value-add opportunity ideal for: Investors, Contractors, Developers, Builders and Rehab specialists. With the right vision, this property can be restored and repositioned to capture value in a growing area.

8. 2026-06-08
   days on market $17,000 Active 5 DOM
9. 2026-06-07
   days on market $17,000 Active 4 DOM
10. 2026-06-04
    days on marketlisting id $17,000 Active 1 DOM
11. 2026-05-31
    days on market $17,000 Active 32 DOM
12. 2026-05-13
    price $18,000 756-char remark
13. 2026-05-13
    price $18,000 756-char remark
14. 2026-05-05
    price $20,000 756-char remark
15. 2026-05-05
    price $20,000 756-char remark
16. 2026-04-29
    listed $22,000 Active 756-char remark
17. 2026-04-29
    listed $22,000 Active 756-char remark
18. 2022-10-01
    historical
19. 2022-10-01
    historical
20. 2022-06-25
    listed $35,000 Active
21. 2022-06-20
    listed $35,000 Active
22. 2022-06-18
    historical
23. 2022-06-18
    historical
24. 2022-04-15
    status Active
25. 2022-04-12
    historical
26. 2021-12-02
    price $40,000
27. 2021-12-02
    price $40,000
28. 2021-11-10
    price $50,000
29. 2021-11-09
    price $50,000
30. 2021-10-15
    listed $55,000 Active
31. 2021-10-15
    listed $55,000 Active

ⓘ 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 ≥96°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: $16,176
• − Mortgage interest: −$896
• − Property taxes: −$240
• − Insurance: −$80
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$465
• Taxable income: $11,906
• Est. tax owed @ 24.0%: −$2,857
• After-tax cash flow: $8,594/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

-70.9% since first listed

28 events — show timeline

• 2026-06-09 Price Changed $16,000 MiRealSource-MiMLS
• 2026-06-08 Price Changed $16,000 REALCOMP
• 2026-06-03 Listed $17,000 REALCOMP
• 2026-06-03 Listed $17,000 MiRealSource-MiMLS
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2026-05-27 Price Changed $17,000 MiRealSource-MiMLS
• 2026-05-27 Price Changed $17,000 REALCOMP
• 2026-05-13 Price Changed $18,000 MiRealSource-MiMLS
• 2026-05-13 Price Changed $18,000 REALCOMP
• 2026-05-05 Price Changed $20,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $20,000 REALCOMP
• 2026-04-29 Listed $22,000 MiRealSource-MiMLS
• 2026-04-29 Listed $22,000 REALCOMP
• 2022-10-01 Listing Removed — MiRealSource-MiMLS
• 2022-10-01 Listing Removed — REALCOMP
• 2022-06-25 Listed $35,000 REALCOMP
• 2022-06-20 Listed $35,000 MiRealSource-MiMLS
• 2022-06-18 Listing Removed — REALCOMP
• 2022-06-18 Listing Removed — MiRealSource-MiMLS
• 2022-04-15 Relisted — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2021-12-02 Price Changed $40,000 MiRealSource-MiMLS
• 2021-12-02 Price Changed $40,000 REALCOMP
• 2021-11-10 Price Changed $50,000 MiRealSource-MiMLS
• 2021-11-09 Price Changed $50,000 REALCOMP
• 2021-10-15 Listed $55,000 MiRealSource-MiMLS
• 2021-10-15 Listed $55,000 REALCOMP

Property tax history

+6.5%/yr

Latest (2025): $945 · +2.3% YoY. Source: county tax records.