8458 Brace St · Detroit, MI 48228

$49,900

3 bd · 1.0 ba · 869 sqft · SingleFamily public records · 47 Days on market

Built 1943 4,792 sqft lot $57/sqft · at area comps Est $48k · at est.

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.0/15.0
• 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

Welcome to this 1-story ranch built in 1943 offering 869 sq ft of comfortable living space. This home features 3 bedrooms and 1 full bathroom. Step inside to a bright and cozy living room, perfect for relaxing or entertaining. The kitchen provides ample space for meal prep and everyday dining. Enjoy the backyard, ideal for gardening or simply spending time outdoors. A great opportunity to own a well-maintained home with classic character.

Key facts

• 1 story ranch
• Ample kitchen space
• Bright living room

Tags

• 1 STORY RANCH
• BRIGHT LIVING ROOM
• AMPLE KITCHEN SPACE
• BACKYARD FOR GARDENING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 10.2% 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); 363 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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).
• At $1,216/mo this rent would consume 48% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 6y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1943 — 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. 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: 2.44% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.65%
• DSCR: 2.85
• GRM: 3.4

CMA / ARV

• ARV (median comp): $48,312
• List price: $49,900
• Delta: 3.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8309 Brace St	0.08mi	3/1.5	864 (-1%)	1mo	$28,500	$33	92
8686 Artesian St	0.20mi	3/1.0	864 (-1%)	2mo	$35,000	$41	89
8630 Greenview Ave	0.11mi	3/1.0	924 (+6%)	3mo	$50,000	$54	82
7756 Westwood St	0.55mi	3/1.0	871 (+0%)	2mo	$90,000	$103	73
8651 Brace Street St	0.12mi	3/1.0	987 (+14%)	2mo	$60,000	$61	70
8225 Grandville Ave	0.38mi	2/1.0 (-1)	906 (+4%)	2mo	$36,500	$40	69
9109 Stahelin Ave	0.43mi	2/1.0 (-1)	836 (-4%)	3mo	$25,000	$30	66
8084 Evergreen Ave	0.66mi	3/1.0	909 (+5%)	3mo	$77,000	$85	59
7667 Greenview Ave	0.49mi	3/1.0	960 (+10%)	2mo	$65,100	$68	58
9221 Grandville Ave	0.59mi	3/1.0	971 (+12%)	2mo	$135,000	$139	51
8411 Plainview Ave	0.59mi	3/1.0	971 (+12%)	5mo	$108,000	$111	48
9317 Artesian St	0.60mi	2/1.0 (-1)	994 (+14%)	1mo	$25,000	$25	42

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: 34.3%
• Equity multiple: 2.38×
• Total profit: $19,332
• Equity at exit: $7,440

10-year hold

• IRR: 39.3%
• Equity multiple: 4.09×
• Total profit: $43,228
• Equity at exit: $4,314

Cash invested: $13,972 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$262
• Tax from tax record: −$194 /mo · $2,323/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $485

Break-even live

Break-even rent $603

Max offer price $49,900

Occupancy floor 55%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	43d	1	0.20mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	0.26mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	17d	1	0.34mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.40mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	43d	1	0.41mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	0.59mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	0.71mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	0.74mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.79mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	43d	1	0.81mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	0.84mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	0.93mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	12d	1	1.04mi
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	16d	1	1.12mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.15mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.15mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	1.16mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.16mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.16mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.16mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.16mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.17mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.17mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.18mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.20mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	43d	1	1.21mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.21mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	43d	1	1.23mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	15d	1	1.24mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	1.29mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.30mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	1.33mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.36mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.38mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.38mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.39mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.39mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	43d	1	1.46mi

Listing history 27 events

1. 2026-06-04
   status $49,900 Pending 47 DOM
2. 2026-06-03
   days on market $49,900 Active 47 DOM
3. 2026-06-02
   days on market $49,900 Active 46 DOM
4. 2026-06-01
   days on market $49,900 Active 45 DOM
5. 2026-05-31
   days on market $49,900 Active 44 DOM
6. 2026-05-19
   price $49,900 442-char remark

   Show marketing remark (443 chars)

   Welcome to this 1-story ranch built in 1943 offering 869 sq ft of comfortable living space. This home features 3 bedrooms and 1 full bathroom. Step inside to a bright and cozy living room, perfect for relaxing or entertaining. The kitchen provides ample space for meal prep and everyday dining. Enjoy the backyard, ideal for gardening or simply spending time outdoors. A great opportunity to own a well-maintained home with classic character.

7. 2026-05-19
   price $49,900 443-char remark

   Show marketing remark (443 chars)

   Welcome to this 1-story ranch built in 1943 offering 869 sq ft of comfortable living space. This home features 3 bedrooms and 1 full bathroom. Step inside to a bright and cozy living room, perfect for relaxing or entertaining. The kitchen provides ample space for meal prep and everyday dining. Enjoy the backyard, ideal for gardening or simply spending time outdoors. A great opportunity to own a well-maintained home with classic character.

8. 2026-04-17
   listed $54,900 Active 442-char remark

   Show marketing remark (443 chars)

   Welcome to this 1-story ranch built in 1943 offering 869 sq ft of comfortable living space. This home features 3 bedrooms and 1 full bathroom. Step inside to a bright and cozy living room, perfect for relaxing or entertaining. The kitchen provides ample space for meal prep and everyday dining. Enjoy the backyard, ideal for gardening or simply spending time outdoors. A great opportunity to own a well-maintained home with classic character.

9. 2026-04-17
   listed $54,900 Active 443-char remark

   Show marketing remark (443 chars)

   Welcome to this 1-story ranch built in 1943 offering 869 sq ft of comfortable living space. This home features 3 bedrooms and 1 full bathroom. Step inside to a bright and cozy living room, perfect for relaxing or entertaining. The kitchen provides ample space for meal prep and everyday dining. Enjoy the backyard, ideal for gardening or simply spending time outdoors. A great opportunity to own a well-maintained home with classic character.

10. 2024-08-24
    historical $1,200
11. 2024-08-08
    listed $1,200
12. 2024-08-08
    historical $1,200
13. 2024-08-07
    listed $1,200
14. 2024-07-29
    soldstatus $105,000
15. 2022-11-15
    soldstatus $20,000 Sold
16. 2022-11-15
    soldstatus $20,000 Closed
17. 2022-10-21
    status Pending
18. 2022-10-21
    status Pending
19. 2022-10-19
    listed $22,000 Active
20. 2022-10-19
    listed $22,000 Active
21. 2020-05-07
    historical
22. 2020-05-07
    status Pending
23. 2020-04-17
    soldstatus $8,000 Sold
24. 2020-04-17
    soldstatus $8,000 Closed
25. 2020-01-23
    listed $9,900 Active
26. 2020-01-23
    listed $9,900 Active
27. 1992-07-01
    soldstatus $30,460

ⓘ 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: $2,323 · $194/mo
• Projected year-2 tax: $2,323 · $194/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 5/10 Major FEMA zone X (unshaded) · 50% 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: $14,597
• − Mortgage interest: −$2,795
• − Property taxes: −$2,323
• − Insurance: −$250
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$1,452
• Taxable income: $5,442
• Est. tax owed @ 24.0%: −$1,306
• After-tax cash flow: $4,513/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

+63.8% since first listed

22 events — show timeline

• 2026-05-19 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $49,900 REALCOMP
• 2026-04-17 Listed $54,900 REALCOMP
• 2026-04-17 Listed $54,900 MiRealSource-MiMLS
• 2024-08-24 Rental Removed $1,200 REALSOURCE
• 2024-08-08 Listed for Rent $1,200 REALSOURCE
• 2024-08-08 Rental Removed $1,200 REALCOMP
• 2024-08-07 Listed for Rent $1,200 REALCOMP
• 2024-07-29 Sold (Public Records) $105,000 Public Records
• 2022-11-15 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2022-11-15 Sold (MLS) $20,000 REALCOMP
• 2022-10-21 Pending — MiRealSource-MiMLS
• 2022-10-21 Pending — REALCOMP
• 2022-10-19 Listed $22,000 MiRealSource-MiMLS
• 2022-10-19 Listed $22,000 REALCOMP
• 2020-05-07 Listing Removed — REALCOMP
• 2020-05-07 Pending — REALCOMP
• 2020-04-17 Sold (MLS) $8,000 MiRealSource-MiMLS
• 2020-04-17 Sold (MLS) $8,000 REALCOMP
• 2020-01-23 Listed $9,900 MiRealSource-MiMLS
• 2020-01-23 Listed $9,900 REALCOMP
• 1992-07-01 Sold (Public Records) $30,460 Public Records

Property tax history

+14.5%/yr

Latest (2025): $2,323 · +21.9% YoY. Source: county tax records.