7316 Warwick St · Detroit, MI 48228

$129,500

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 5 Days on market

Built 1948 5,227 sqft lot

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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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae HomePath Property. Exceptional 3 Bedroom Brick Bungalow with Full basement and Fenced Yard. Newer Roof, Windows, Fence, Furnace and AC. Fresh Paint and Fixtures throughout. Close proximity to shopping and transportation.

Key facts

• Brick bungalow
• Newer fence
• Fenced yard

Tags

• BRICK BUNGALOW
• FULL BASEMENT
• FENCED YARD
• NEWER ROOF
• NEWER WINDOWS
• NEWER FENCE

Property features AI

Finance

• Other: Located in the Warrendale subdivision; Cross streets: Warren and Evergreen
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half stories; Brick construction
• Construction: Brick exterior; One-and-a-half story structure
• Exterior features: Lot approximately 40 x 127 (0.12 acres); No pool

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).

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; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,387/mo this rent would consume 54% of the median local household income ($31k/yr) (locally 4144% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $60k; list at $130k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,500

Questions for the listing agent

1. Built in 1948 — 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. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $82,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6427 Artesian St	0.50mi	3/1.0	1,118 (-2%)	0mo	$100,000	$89	73
7633 Faust Ave	0.33mi	3/1.0	1,045 (-8%)	3mo	$60,000	$57	68
6849 Rosemont Ave	0.47mi	3/1.0	1,211 (+6%)	2mo	$100,000	$83	66
6712 Artesian St	0.36mi	3/1.0	1,000 (-12%)	1mo	$97,500	$98	62
6782 Evergreen Ave	0.52mi	3/1.0	1,041 (-9%)	3mo	$120,000	$115	59
7391 Ashton Ave	0.48mi	3/1.0	1,023 (-10%)	3mo	$40,000	$39	58
8427 Piedmont St	0.66mi	3/1.0	1,056 (-7%)	2mo	$62,000	$59	55
8418 Grandville Ave	0.66mi	3/1.0	1,229 (+8%)	2mo	$60,000	$49	55
7690 Heyden St	0.59mi	3/1.0	1,019 (-11%)	1mo	$73,000	$72	54
6300 Penrod St	0.72mi	4/1.0 (+1)	1,080 (-5%)	1mo	$78,000	$72	52
8271 Rosemont Ave	0.70mi	2/1.0 (-1)	1,000 (-12%)	2mo	$35,500	$36	40
6229 Faust Ave	0.75mi	2/1.5 (-1)	1,300 (+14%)	2mo	$95,500	$73	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-9,118
• Equity at exit: $19,309

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-3,160
• Equity at exit: $11,197

Cash invested: $36,260 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$679
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $250

Break-even live

Break-even rent $1,070

Max offer price $129,500

Occupancy floor 77%

Sensitivity live

Price	-10% $324	-5% $287	+0% $250	+5% $214	+10% $177
Rent	-10% $141	-5% $196	+0% $250	+5% $305	+10% $360
Rate	-1.0pp $316	-0.5pp $283	base $250	+0.5pp $217	+1.0pp $183

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	17d	1	0.46mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.58mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	0.64mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	0.72mi
6874 Country Ln Dearborn Heights, MI	2.0	1.5	1400	$1,500	$1.07	44d	1	0.74mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	18d	1	0.75mi
7265 Braile St Detroit, MI	3.0	1.0	1200	$1,499	$1.25	25d	1	0.76mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	0.78mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	0.81mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	25d	1	0.86mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.87mi
20571 Brooklawn Dr Dearborn Heights, MI	3.0	2.0	1254	$1,850	$1.48	44d	1	0.88mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	5d	1	0.99mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	3d	10	1.00mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.04mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	44d	1	1.10mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	44d	1	1.14mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,430	$2.09	0d	11	1.27mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	1.28mi
7312 Mansfield St Detroit, MI	4.0	1.0	1300	$1,400	$1.08	17d	1	1.28mi
6474 Saint Marys St Detroit, MI	3.0	1.0	1237	$1,350	$1.09	44d	1	1.29mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	15d	1	1.30mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	44d	1	1.38mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	22d	1	1.41mi
19440 W Chicago St Detroit, MI	3.0	1.5	1200	$1,225	$1.02	18d	1	1.41mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	44d	1	1.42mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	1.42mi

Listing history 4 events

1. 2026-05-22
   status Pending 241-char remark

   Show marketing remark (241 chars)

   This is a Fannie Mae HomePath Property. Exceptional 3 Bedroom Brick Bungalow with Full basement and Fenced Yard. Newer Roof, Windows, Fence, Furnace and AC. Fresh Paint and Fixtures throughout. Close proximity to shopping and transportation.

2. 2026-05-18
   listed $129,500 Active

   Show marketing remark (241 chars)

   This is a Fannie Mae HomePath Property. Exceptional 3 Bedroom Brick Bungalow with Full basement and Fenced Yard. Newer Roof, Windows, Fence, Furnace and AC. Fresh Paint and Fixtures throughout. Close proximity to shopping and transportation.

3. 2026-05-18
   listed $129,500 Active 241-char remark

   Show marketing remark (241 chars)

   This is a Fannie Mae HomePath Property. Exceptional 3 Bedroom Brick Bungalow with Full basement and Fenced Yard. Newer Roof, Windows, Fence, Furnace and AC. Fresh Paint and Fixtures throughout. Close proximity to shopping and transportation.

4. 2024-01-23
   soldstatus $60,365

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $1,671 · $139/mo
• Expected delta: +$323/yr (+$27/mo · 23.9%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,644
• − Mortgage interest: −$7,254
• − Property taxes: −$1,348
• − Insurance: −$648
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$3,767
• Taxable income: $964
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,772/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

+114.5% since first listed

4 events — show timeline

• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-18 Listed $129,500 REALCOMP
• 2026-05-18 Listed $129,500 MiRealSource-MiMLS
• 2024-01-23 Sold (Public Records) $60,365 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,348 · +12.6% YoY. Source: county tax records.