8311 Olympia St · Detroit, MI 48213

$110,000

4 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 48 Days on market

Built 1925 3,485 sqft lot $92/sqft · 364% above area ↓ 27% since listing

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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
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• 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

Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

Key facts

• New flooring
• Two walk-in closets
• 3,485 sq ft lot

Tags

• NEW FLOORING
• UPPER-LEVEL PRIMARY SUITE
• PRIVATE EN-SUITE BATH
• TWO WALK-IN CLOSETS
• ADDITIONAL ATTIC STORAGE
• SOLID BRICK CONSTRUCTION

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.08 acres (30 x 116.68)

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished basement; Total of 7 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% 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: 190 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,494/mo this rent would consume 53% of the median local household income ($34k/yr) (locally 1202% 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (15%) 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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.36% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

• ARV (median comp): $50,533
• List price: $110,000
• Delta: 117.68%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8138 Knodell St	0.16mi	4/1.0	1,260 (+5%)	12mo	$46,000	$37	75
9138 Fischer St	0.08mi	3/1.5 (-1)	1,296 (+8%)	4mo	$19,000	$15	73
6659 Fischer St	0.39mi	3/1.0 (-1)	1,200 (0%)	6mo	$22,000	$18	72
8293 Marion St	0.12mi	3/1.0 (-1)	1,152 (-4%)	17mo	$36,000	$31	69
8221 Marion St	0.14mi	3/1.0 (-1)	1,070 (-11%)	8mo	$42,080	$39	64
6631 Seminole St	0.51mi	3/1.5 (-1)	1,248 (+4%)	1mo	$24,000	$19	62
9129 Fischer St	0.06mi	3/1.5 (-1)	1,296 (+8%)	19mo	$40,000	$31	61
9354 Bessemore St	0.43mi	3/1.0 (-1)	1,125 (-6%)	16mo	$23,000	$20	52
8056 Lynch Rd	0.59mi	4/1.5	1,044 (-13%)	2mo	$30,000	$29	47
8922 Armour St	0.64mi	4/1.0	1,050 (-12%)	5mo	$25,000	$24	45
8101 Molena St	0.72mi	4/1.0	1,328 (+11%)	10mo	$71,500	$54	40
8901 Isham Ave	0.36mi	3/1.0 (-1)	1,380 (+15%)	16mo	$35,000	$25	40

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: 9.9%
• Equity multiple: 1.39×
• Total profit: $12,044
• Equity at exit: $16,401

10-year hold

• IRR: 19.0%
• Equity multiple: 2.59×
• Total profit: $48,927
• Equity at exit: $9,511

Cash invested: $30,800 (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 48213

• Active inventory: 190
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,494 high
• Mortgage (P&I): −$577
• Tax from tax record: −$89 /mo · $1,062/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $469

Break-even live

Break-even rent $900

Max offer price $110,000

Occupancy floor 64%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	0.23mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	0.34mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	0.44mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.89mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	1.23mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	16d	1	1.36mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	1.45mi

Listing history 23 events

1. 2026-06-18
   days on market $110,000 Active 48 DOM
2. 2026-06-17
   days on market $110,000 Active 47 DOM
3. 2026-06-15
   days on market $110,000 Active 45 DOM
4. 2026-06-13
   days on market $110,000 Active 43 DOM
5. 2026-06-13
   days on market $110,000 Active 42 DOM
6. 2026-06-09
   days on market $110,000 Active 39 DOM
7. 2026-06-08
   days on market $110,000 Active 38 DOM
8. 2026-06-07
   pricedays on market $110,000 Active 37 DOM

   Show marketing remark (924 chars)

   Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

9. 2026-06-04
   days on market $115,000 Active 34 DOM
10. 2026-06-03
    days on market $115,000 Active 33 DOM
11. 2026-06-02
    days on market $115,000 Active 32 DOM
12. 2026-06-01
    days on market $115,000 Active 31 DOM
13. 2026-05-31
    days on market $115,000 Active 30 DOM
14. 2026-05-18
    price $115,000 924-char remark

    Show marketing remark (924 chars)

    Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

15. 2026-05-17
    price $115,000 924-char remark
16. 2026-05-09
    price $120,000 924-char remark

    Show marketing remark (924 chars)

    Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

17. 2026-05-09
    price $120,000 924-char remark

    Show marketing remark (924 chars)

    Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

18. 2026-05-01
    listed $130,000 Active 924-char remark

    Show marketing remark (924 chars)

    Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

19. 2026-05-01
    listed $130,000 Active 924-char remark

    Show marketing remark (924 chars)

    Well-maintained and beautifully updated 4-bedroom, 2-bath brick Cape Cod located in a quiet Detroit neighborhood. This two-story home features new flooring throughout and a spacious upper-level primary suite offering a private en-suite bath, two walk-in closets, and additional attic storage. Solid brick construction, thoughtful layout, and a two-car garage provide both durability and convenience. Dresser set stays with house upstairs. Excluding washer and dryer. Exceptional value included: The sale conveys two additional lots directly across the street, delivering three parcels for the price of one. The large fenced corner lot consists of two separate parcels, with concrete already poured and city water and sewer available. Additional MLS numbers: 20251054084 and 20251054081. Lots are currently listed on MLS and may be sold separately. A rare opportunity combining homeownership, land, and long-term flexibility.

20. 2026-03-17
    historical
21. 2026-01-19
    listed $150,000 Active
22. 2026-01-19
    listed $150,000 Active
23. 2026-01-16
    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: $1,062 · $89/mo
• Projected year-2 tax: $1,378 · $115/mo
• Expected delta: +$316/yr (+$26/mo · 29.7%)

ⓘ 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 ≥96°F today · 14 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: $17,928
• − Mortgage interest: −$6,162
• − Property taxes: −$1,062
• − Insurance: −$550
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$3,200
• Taxable income: $4,086
• Est. tax owed @ 24.0%: −$981
• After-tax cash flow: $4,648/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

-26.7% since first listed

12 events — show timeline

• 2026-06-07 Price Changed $110,000 MiRealSource-MiMLS
• 2026-06-06 Price Changed $110,000 REALCOMP
• 2026-05-18 Price Changed $115,000 MiRealSource-MiMLS
• 2026-05-17 Price Changed $115,000 REALCOMP
• 2026-05-09 Price Changed $120,000 MiRealSource-MiMLS
• 2026-05-09 Price Changed $120,000 REALCOMP
• 2026-05-01 Listed $130,000 REALCOMP
• 2026-05-01 Listed $130,000 MiRealSource-MiMLS
• 2026-03-17 Listing Removed — MiRealSource-MiMLS
• 2026-01-19 Listed $150,000 MiRealSource-MiMLS
• 2026-01-19 Listed $150,000 REALCOMP
• 2026-01-16 Coming Soon — MiRealSource-MiMLS

Property tax history

+1.6%/yr

Latest (2025): $1,062 · -0.3% YoY. Source: county tax records.