9078 Artesian St · Detroit, MI 48228

$69,900

2 bd · 1.0 ba · 749 sqft · SingleFamily public records · 82 Days on market

Built 1948 4,792 sqft lot $93/sqft · 33% above area Est $53k · 33% over ↓ 13% 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

Nice 2 br update brick ranch on well maintained area and street of Detroit. Updated kitchen with new cabinets and L/V flooring. Updated bath new ceramic tile and floors. New molding and door throughout home. New L/V floors in all of home. Newer windows, hot water tank and furnace. Large fence in back yard for kids or pets. Basement is partially finished recess lights painted walls and floors. Good size front porch relax on. Great for first time buyer or to have as a investment to rent out. Just move in and get comfortable. Tennent occupied please call listing agent for all appointments. Patrick Peteet

Key facts

• 4,792 sq ft lot
• Built 1948
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 $483 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.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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: property tax is 3.0% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.52% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.57%
• DSCR: 1.74
• GRM: 5.5

CMA / ARV

• ARV (median comp): $52,666
• List price: $69,900
• Delta: 32.72%
• 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
8900 Artesian St	0.10mi	2/1.0	746 (-0%)	10mo	$35,000	$47	86
9109 Stahelin Ave	0.04mi	2/1.0	836 (+12%)	3mo	$25,000	$30	76
9046 Grandville Ave	0.19mi	2/1.0	787 (+5%)	11mo	$72,000	$91	73
8257 Minock St	0.62mi	2/1.0	737 (-2%)	8mo	$32,000	$43	62
8062 Grandville Ave	0.66mi	2/1.0	732 (-2%)	6mo	$60,000	$82	60
9107 Vaughan St	0.59mi	2/1.0	732 (-2%)	12mo	$47,000	$64	59
9244 Heyden	0.63mi	2/1.0	801 (+7%)	0mo	$35,000	$44	59
8863 Vaughan St	0.61mi	3/1.0 (+1)	800 (+7%)	4mo	$58,500	$73	52
8068 Stahelin Ave	0.63mi	2/1.0	807 (+8%)	10mo	$35,000	$43	49
8848 Heyden St	0.64mi	3/1.0 (+1)	813 (+8%)	7mo	$65,000	$80	45
11329 Minock St	0.74mi	3/1.0 (+1)	816 (+9%)	4mo	$50,000	$61	43
9560 Plainview Ave	0.56mi	3/1.0 (+1)	857 (+14%)	8mo	$88,000	$103	38

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $2,840
• Equity at exit: $10,422

10-year hold

• IRR: 10.0%
• Equity multiple: 1.66×
• Total profit: $12,887
• Equity at exit: $6,044

Cash invested: $19,572 (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: 363
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,062 high
• Mortgage (P&I): −$367
• Tax from tax record: −$173 /mo · $2,075/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $270

Break-even live

Break-even rent $720

Max offer price $69,900

Occupancy floor 70%

Sensitivity live

Price	-10% $310	-5% $290	+0% $270	+5% $250	+10% $231
Rent	-10% $186	-5% $228	+0% $270	+5% $312	+10% $354
Rate	-1.0pp $305	-0.5pp $288	base $270	+0.5pp $252	+1.0pp $234

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.32mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	44d	1	0.37mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	0.38mi
20237 W Chicago Detroit, MI	1.0	1.0	650	$850	$1.31	44d	1	0.72mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	1.07mi
12611 Memorial St Unit 629104 Detroit, MI	1.0	1.0	700	$995	$1.42	44d	1	1.47mi
12611 Memorial St Unit 629203 Detroit, MI	1.0	1.0	635	$995	$1.57	25d	1	1.47mi

Listing history 23 events

1. 2026-06-18
   days on market $69,900 Active 82 DOM
2. 2026-06-17
   days on market $69,900 Active 81 DOM
3. 2026-06-15
   days on market $69,900 Active 79 DOM
4. 2026-06-13
   days on market $69,900 Active 77 DOM
5. 2026-06-13
   days on market $69,900 Active 76 DOM
6. 2026-06-09
   days on market $69,900 Active 73 DOM
7. 2026-06-08
   days on market $69,900 Active 72 DOM
8. 2026-06-07
   days on market $69,900 Active 71 DOM
9. 2026-06-04
   days on market $69,900 Active 68 DOM
10. 2026-06-03
    days on market $69,900 Active 67 DOM
11. 2026-06-02
    days on market $69,900 Active 66 DOM
12. 2026-06-01
    days on market $69,900 Active 65 DOM
13. 2026-05-31
    days on market $69,900 Active 64 DOM
14. 2026-03-29
    listed $69,900 Active 608-char remark

    Show marketing remark (608 chars)

    Nice 2 br update brick ranch on well maintained area and street of Detroit. Updated kitchen with new cabinets and L/V flooring. Updated bath new ceramic tile and floors. New molding and door throughout home. New L/V floors in all of home. Newer windows, hot water tank and furnace. Large fence in back yard for kids or pets. Basement is partially finished recess lights painted walls and floors. Good size front porch relax on. Great for first time buyer or to have as a investment to rent out. Just move in and get comfortable. Tennent occupied please call listing agent for all appointments. Patrick Peteet

15. 2026-03-29
    listed $69,900 Active 608-char remark

    Show marketing remark (608 chars)

    Nice 2 br update brick ranch on well maintained area and street of Detroit. Updated kitchen with new cabinets and L/V flooring. Updated bath new ceramic tile and floors. New molding and door throughout home. New L/V floors in all of home. Newer windows, hot water tank and furnace. Large fence in back yard for kids or pets. Basement is partially finished recess lights painted walls and floors. Good size front porch relax on. Great for first time buyer or to have as a investment to rent out. Just move in and get comfortable. Tennent occupied please call listing agent for all appointments. Patrick Peteet

16. 2026-03-25
    historical $69,900 608-char remark

    Show marketing remark (608 chars)

    Nice 2 br update brick ranch on well maintained area and street of Detroit. Updated kitchen with new cabinets and L/V flooring. Updated bath new ceramic tile and floors. New molding and door throughout home. New L/V floors in all of home. Newer windows, hot water tank and furnace. Large fence in back yard for kids or pets. Basement is partially finished recess lights painted walls and floors. Good size front porch relax on. Great for first time buyer or to have as a investment to rent out. Just move in and get comfortable. Tennent occupied please call listing agent for all appointments. Patrick Peteet

17. 2026-03-25
    historical

    Show marketing remark (608 chars)

    Nice 2 br update brick ranch on well maintained area and street of Detroit. Updated kitchen with new cabinets and L/V flooring. Updated bath new ceramic tile and floors. New molding and door throughout home. New L/V floors in all of home. Newer windows, hot water tank and furnace. Large fence in back yard for kids or pets. Basement is partially finished recess lights painted walls and floors. Good size front porch relax on. Great for first time buyer or to have as a investment to rent out. Just move in and get comfortable. Tennent occupied please call listing agent for all appointments. Patrick Peteet

18. 2026-03-25
    historical

    Show marketing remark (608 chars)

    Nice 2 br update brick ranch on well maintained area and street of Detroit. Updated kitchen with new cabinets and L/V flooring. Updated bath new ceramic tile and floors. New molding and door throughout home. New L/V floors in all of home. Newer windows, hot water tank and furnace. Large fence in back yard for kids or pets. Basement is partially finished recess lights painted walls and floors. Good size front porch relax on. Great for first time buyer or to have as a investment to rent out. Just move in and get comfortable. Tennent occupied please call listing agent for all appointments. Patrick Peteet

19. 2025-12-11
    price $74,900
20. 2025-12-10
    price $74,900
21. 2025-11-08
    listed $79,900 Active
22. 2025-11-08
    listed $79,900 Active
23. 2025-11-01
    historical

ⓘ 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: $2,075 · $173/mo
• Projected year-2 tax: $2,075 · $173/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $12,742
• − Mortgage interest: −$3,915
• − Property taxes: −$2,075
• − Insurance: −$350
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$2,033
• Taxable income: $2,330
• Est. tax owed @ 24.0%: −$559
• After-tax cash flow: $2,684/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

-12.5% since first listed

10 events — show timeline

• 2026-03-29 Listed $69,900 MiRealSource-MiMLS
• 2026-03-29 Listed $69,900 REALCOMP
• 2026-03-25 Coming Soon $69,900 MiRealSource-MiMLS
• 2026-03-25 Listing Removed — REALCOMP
• 2026-03-25 Listing Removed — MiRealSource-MiMLS
• 2025-12-11 Price Changed $74,900 MiRealSource-MiMLS
• 2025-12-10 Price Changed $74,900 REALCOMP
• 2025-11-08 Listed $79,900 MiRealSource-MiMLS
• 2025-11-08 Listed $79,900 REALCOMP
• 2025-11-01 Coming Soon — MiRealSource-MiMLS

Property tax history

+2.4%/yr

Latest (2025): $2,075 · -54.3% YoY. Source: county tax records.