8080 Penrod St · Detroit, MI 48228

$55,000

2 bd · 1.0 ba · 601 sqft · SingleFamily public records · 65 Days on market

Built 1930 5,227 sqft lot $92/sqft · 36% above area Est $47k · 17% over ↓ 20% since listing

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

Listing remarks MLS

Charming and cozy 2-bedroom, 1-bath home located on the west side of Detroit, just minutes from Tireman Ave. This inviting property is a great opportunity for first-time buyers or investors seeking a rental, offering solid potential with only minimal updates needed. Conveniently located near major roads and shopping, this property combines convenience and strong investment appeal.

Key facts

• West side of detroit
• Near shopping
• Near major roads

Tags

• WEST SIDE OF DETROIT
• MINUTES FROM TIREMAN AVE
• NEAR MAJOR ROADS
• NEAR SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 soft (-2.3%/yr); 369 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 42% of the median local income ($31k/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 $380 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.95% ✓
• Cap rate: 16.07%
• Cash-on-cash: 34.93%
• DSCR: 2.55
• GRM: 4.3

CMA / ARV

• ARV (median comp): $47,092
• List price: $55,000
• Delta: 16.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8219 Rosemont Ave	0.07mi	3/1.0 (+1)	687 (+14%)	18mo	$10,000	$15	53
8234 Penrod St	0.08mi	3/1.0 (+1)	687 (+14%)	18mo	$10,000	$15	52

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: 27.0%
• Equity multiple: 2.07×
• Total profit: $16,528
• Equity at exit: $8,201

10-year hold

• IRR: 32.6%
• Equity multiple: 3.54×
• Total profit: $39,142
• Equity at exit: $4,755

Cash invested: $15,400 (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: 369
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$288
• Tax from tax record: −$86 /mo · $1,030/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $448

Break-even live

Break-even rent $503

Max offer price $55,000

Occupancy floor 53%

Sensitivity live

Price	-10% $479	-5% $464	+0% $448	+5% $433	+10% $417
Rent	-10% $364	-5% $406	+0% $448	+5% $491	+10% $533
Rate	-1.0pp $476	-0.5pp $462	base $448	+0.5pp $434	+1.0pp $420

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	45d	1	0.39mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	45d	1	0.68mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	3d	15	0.92mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	45d	1	0.92mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	18d	1	1.31mi
20237 W Chicago Detroit, MI	1.0	1.0	650	$850	$1.31	45d	1	1.35mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	4d	10	1.41mi

Listing history 25 events

1. 2026-06-21
   days on market $55,000 Active 65 DOM
2. 2026-06-18
   days on market $55,000 Active 62 DOM
3. 2026-06-17
   days on market $55,000 Active 61 DOM
4. 2026-06-15
   days on market $55,000 Active 59 DOM
5. 2026-06-13
   days on market $55,000 Active 57 DOM
6. 2026-06-13
   days on market $55,000 Active 56 DOM
7. 2026-06-09
   days on market $55,000 Active 53 DOM
8. 2026-06-08
   days on market $55,000 Active 52 DOM
9. 2026-06-07
   days on market $55,000 Active 51 DOM
10. 2026-06-04
    days on market $55,000 Active 48 DOM
11. 2026-06-03
    days on market $55,000 Active 47 DOM
12. 2026-06-02
    days on market $55,000 Active 46 DOM
13. 2026-06-01
    days on market $55,000 Active 45 DOM
14. 2026-05-31
    days on market $55,000 Active 44 DOM
15. 2026-05-19
    price $55,000 383-char remark

    Show marketing remark (383 chars)

    Charming and cozy 2-bedroom, 1-bath home located on the west side of Detroit, just minutes from Tireman Ave. This inviting property is a great opportunity for first-time buyers or investors seeking a rental, offering solid potential with only minimal updates needed. Conveniently located near major roads and shopping, this property combines convenience and strong investment appeal.

16. 2026-05-19
    price $55,000 383-char remark

    Show marketing remark (383 chars)

    Charming and cozy 2-bedroom, 1-bath home located on the west side of Detroit, just minutes from Tireman Ave. This inviting property is a great opportunity for first-time buyers or investors seeking a rental, offering solid potential with only minimal updates needed. Conveniently located near major roads and shopping, this property combines convenience and strong investment appeal.

17. 2026-04-17
    listed $59,900 Active 383-char remark

    Show marketing remark (383 chars)

    Charming and cozy 2-bedroom, 1-bath home located on the west side of Detroit, just minutes from Tireman Ave. This inviting property is a great opportunity for first-time buyers or investors seeking a rental, offering solid potential with only minimal updates needed. Conveniently located near major roads and shopping, this property combines convenience and strong investment appeal.

18. 2026-04-17
    listed $59,900 Active 383-char remark

    Show marketing remark (383 chars)

    Charming and cozy 2-bedroom, 1-bath home located on the west side of Detroit, just minutes from Tireman Ave. This inviting property is a great opportunity for first-time buyers or investors seeking a rental, offering solid potential with only minimal updates needed. Conveniently located near major roads and shopping, this property combines convenience and strong investment appeal.

19. 2026-04-06
    historical
20. 2026-04-06
    historical
21. 2026-02-26
    price $69,900
22. 2026-02-25
    price $69,900
23. 2025-10-10
    listed $75,000 Active
24. 2025-10-09
    listed $75,000 Active
25. 2021-02-08
    soldstatus $69,000

ⓘ 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: $1,030 · $86/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $12,843
• − Mortgage interest: −$3,081
• − Property taxes: −$1,030
• − Insurance: −$275
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$1,600
• Taxable income: $4,802
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $4,227/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

-20.3% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $55,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $55,000 REALCOMP
• 2026-04-17 Listed $59,900 REALCOMP
• 2026-04-17 Listed $59,900 MiRealSource-MiMLS
• 2026-04-06 Listing Removed — REALCOMP
• 2026-04-06 Listing Removed — MiRealSource-MiMLS
• 2026-02-26 Price Changed $69,900 MiRealSource-MiMLS
• 2026-02-25 Price Changed $69,900 REALCOMP
• 2025-10-10 Listed $75,000 REALCOMP
• 2025-10-09 Listed $75,000 MiRealSource-MiMLS
• 2021-02-08 Sold (Public Records) $69,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,030 · -8.3% YoY. Source: county tax records.