3985 Somerset Ave · Detroit, MI 48224

$90,000

4 bd · 1.0 ba · 1,262 sqft · SingleFamily public records · 98 Days on market

Built 1942 4,792 sqft lot $71/sqft · 19% below area Est $112k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started - now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs - making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity - come see what your future could look like at 3985 Somerset!

Key facts

• 4,792 sq ft lot
• Garage
• Built 1942

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 10.0% 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 flat; 492 active listings in the ZIP; 25 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).
• This rent runs 41% of the median local income ($45k/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 $622 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 + 0.7% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $90k implies a 800% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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: 1.72% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.09%
• DSCR: 2.29
• GRM: 4.9

CMA / ARV

• ARV (median comp): $111,609
• List price: $90,000
• Delta: -19.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4404 Somerset Ave	0.27mi	3/1.0 (-1)	1,292 (+2%)	0mo	$190,000	$147	78
3677 Somerset Ave	0.13mi	3/1.0 (-1)	1,154 (-9%)	1mo	$69,000	$60	74
4619 Balfour Rd	0.32mi	3/1.0 (-1)	1,188 (-6%)	2mo	$44,000	$37	69
3619 Buckingham Ave	0.29mi	3/1.5 (-1)	1,374 (+9%)	1mo	$175,000	$127	64
1332 Wayburn St	0.61mi	3/1.0 (-1)	1,248 (-1%)	3mo	$335,000	$268	62
4605 Devonshire Rd	0.45mi	3/1.0 (-1)	1,357 (+8%)	1mo	$139,000	$102	60
1330 Beaconsfield St	0.55mi	4/1.0	1,144 (-9%)	0mo	$285,000	$249	58
4890 Three Mile Dr	0.70mi	4/1.5	1,308 (+4%)	3mo	$150,000	$115	57
5050 Somerset Ave	0.60mi	3/1.0 (-1)	1,356 (+7%)	1mo	$84,900	$63	54
4820 Lakepointe St	0.47mi	3/1.5 (-1)	1,100 (-13%)	2mo	$160,000	$145	48
4871 Lakepointe St	0.52mi	3/1.5 (-1)	1,100 (-13%)	2mo	$160,000	$145	46
4844 Manistique St	0.65mi	3/1.0 (-1)	1,088 (-14%)	2mo	$19,900	$18	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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 1.83×
• Total profit: $20,893
• Equity at exit: $13,419

10-year hold

• IRR: 27.5%
• Equity multiple: 3.18×
• Total profit: $54,837
• Equity at exit: $7,782

Cash invested: $25,200 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$472
• Tax from tax record: −$99 /mo · $1,193/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $611

Break-even live

Break-even rent $771

Max offer price $90,000

Occupancy floor 55%

Sensitivity live

Price	-10% $662	-5% $636	+0% $611	+5% $585	+10% $560
Rent	-10% $489	-5% $550	+0% $611	+5% $672	+10% $733
Rate	-1.0pp $656	-0.5pp $634	base $611	+0.5pp $588	+1.0pp $564

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	25d	1	0.19mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	19d	1	0.25mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	45d	1	0.36mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	45d	1	0.54mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	25d	1	0.56mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,000	$1.93	0d	1	0.56mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	0.74mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	19d	1	0.82mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.82mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	6d	1	0.94mi
1042 Wayburn St Grosse Pointe Park, MI	3.0	1.0	1000	$1,575	$1.57	6d	1	1.00mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,225	$1.11	0d	1	1.01mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	45d	1	1.03mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	19d	1	1.05mi
5911 Somerset Ave Detroit, MI	3.0	1.0	1200	$1,350	$1.12	0d	1	1.09mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	1.27mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	45d	1	1.28mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	45d	1	1.33mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	22d	1	1.39mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	1.39mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	1.39mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	23d	1	1.41mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	25d	1	1.41mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	1.48mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	45d	1	1.48mi

Listing history 31 events

1. 2026-06-21
   days on market $90,000 Active 98 DOM
2. 2026-06-18
   days on market $90,000 Active 95 DOM
3. 2026-06-17
   days on market $90,000 Active 94 DOM
4. 2026-06-15
   days on market $90,000 Active 92 DOM
5. 2026-06-13
   days on market $90,000 Active 90 DOM
6. 2026-06-13
   days on market $90,000 Active 89 DOM
7. 2026-06-09
   days on market $90,000 Active 86 DOM
8. 2026-06-08
   days on market $90,000 Active 85 DOM
9. 2026-06-07
   days on market $90,000 Active 84 DOM
10. 2026-06-04
    days on market $90,000 Active 81 DOM
11. 2026-06-03
    days on market $90,000 Active 80 DOM
12. 2026-06-02
    price $90,000 Active 78 DOM
13. 2026-06-01
    days on market $99,999 Active 78 DOM
14. 2026-05-31
    days on market $99,999 Active 77 DOM
15. 2026-05-12
    price $99,999 742-char remark

    Show marketing remark (742 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started - now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs - making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity - come see what your future could look like at 3985 Somerset!

16. 2026-05-11
    price $99,999 754-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

17. 2026-04-02
    price $110,000 742-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

18. 2026-04-02
    price $110,000 754-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

19. 2026-03-21
    price $115,000 742-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

20. 2026-03-21
    price $115,000 754-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

21. 2026-03-15
    listed $120,000 Active 742-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

22. 2026-03-15
    listed $120,000 Active 754-char remark

    Show marketing remark (754 chars)

    Opportunity Knocks on Somerset! This solid 3-bedroom colonial is ready for the right buyer to make it shine. With large, generously sized rooms and a newer furnace already in place, the heavy lifting has been started — now it's your turn to bring the vision. Whether you're a first-time buyer looking to build equity or an investor with an eye for potential, this home checks the boxes. One full bath, classic colonial layout, and plenty of space to customize to your taste. Best of all, this property may qualify for multiple down payment assistance programs — making it even easier to get into a home with little to nothing out of pocket. Priced to reflect the opportunity — come see what your future could look like at 3985 Somerset!

23. 2009-07-08
    soldstatus $10,000
24. 2009-07-08
    soldstatus $10,000
25. 2009-06-25
    historical
26. 2009-06-08
    listed $12,000
27. 2009-06-03
    listed $12,000
28. 2000-05-26
    soldstatus $75,000
29. 2000-01-31
    soldstatus $75,000
30. 1999-12-09
    historical
31. 1999-09-20
    listed $79,900

ⓘ 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: $1,193 · $99/mo
• Projected year-2 tax: $1,290 · $107/mo
• Expected delta: +$96/yr (+$8/mo · 8.1%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,529
• − Mortgage interest: −$5,041
• − Property taxes: −$1,193
• − Insurance: −$450
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$2,618
• Taxable income: $6,262
• Est. tax owed @ 24.0%: −$1,503
• After-tax cash flow: $5,828/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+25.2% since first listed

17 events — show timeline

• 2026-05-12 Price Changed $99,999 MiRealSource-MiMLS
• 2026-05-11 Price Changed $99,999 REALCOMP
• 2026-04-02 Price Changed $110,000 MiRealSource-MiMLS
• 2026-04-02 Price Changed $110,000 REALCOMP
• 2026-03-21 Price Changed $115,000 MiRealSource-MiMLS
• 2026-03-21 Price Changed $115,000 REALCOMP
• 2026-03-15 Listed $120,000 REALCOMP
• 2026-03-15 Listed $120,000 MiRealSource-MiMLS
• 2009-07-08 Sold (MLS) $10,000 REALCOMP
• 2009-07-08 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2009-06-25 Listing Removed — MiRealSource-MiMLS
• 2009-06-08 Listed $12,000 REALCOMP
• 2009-06-03 Listed $12,000 MiRealSource-MiMLS
• 2000-05-26 Sold (Public Records) $75,000 Public Records
• 2000-01-31 Sold (MLS) $75,000 MiRealSource-MiMLS
• 1999-12-09 Listing Removed — MiRealSource-MiMLS
• 1999-09-20 Listed $79,900 MiRealSource-MiMLS

Property tax history

-2.9%/yr

Latest (2025): $1,193 · -53.9% YoY. Source: county tax records.