8268 Sorrento St · Detroit, MI 48228

$115,000

3 bd · 2.0 ba · 2,040 sqft · SingleFamily public records · 1 Days on market

Built 1929 4,792 sqft lot Est $200k · 42% under

---

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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• 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

* * * * PENDING * * * Entered in Realcomp for comparable purposes only; no market exposure

Key facts

• 4,792 sq ft lot
• Garage
• Built 1929

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).

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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,428/mo this rent would consume 56% 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 $795 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.

Negotiation context

• Only 1 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.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1929 — 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: 1.24% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.42%
• DSCR: 1.60
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $199,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8258 Meyers Rd	0.20mi	3/2.5	1,990 (-2%)	1mo	$150,000	$75	84
8210 Meyers Rd	0.20mi	3/1.5	2,088 (+2%)	8mo	$96,000	$46	78
8285 Cheyenne St	0.17mi	3/2.5	2,250 (+10%)	1mo	$230,000	$102	72
8537 Cheyenne St	0.21mi	3/2.5	2,239 (+10%)	5mo	$242,500	$108	68
12950 Mackenzie St	0.13mi	3/1.5	2,324 (+14%)	3mo	$200,000	$86	66
8355 Normile St	0.62mi	3/1.5	2,116 (+4%)	4mo	$230,000	$109	60
8200 Hartwell St	0.25mi	3/2.0	2,289 (+12%)	10mo	$220,000	$96	60
8372 Carlin St	0.39mi	3/1.5	1,800 (-12%)	2mo	$23,000	$13	59
13241 Tireman Ave	0.31mi	4/2.5 (+1)	1,880 (-8%)	10mo	$265,000	$141	57
7651 Appoline St	0.43mi	3/2.5	1,809 (-11%)	8mo	$280,000	$155	52
7361 Pinehurst St	0.66mi	3/1.5	2,253 (+10%)	8mo	$220,000	$98	43
9244 Carlin St	0.68mi	3/1.5	1,777 (-13%)	8mo	$85,000	$48	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: 0.1%
• Equity multiple: 1.00×
• Total profit: $120
• Equity at exit: $17,147

10-year hold

• IRR: 6.5%
• Equity multiple: 1.42×
• Total profit: $13,485
• Equity at exit: $9,943

Cash invested: $32,200 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,428 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$117 /mo · $1,403/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $360

Break-even live

Break-even rent $972

Max offer price $115,000

Occupancy floor 70%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7801 Appoline St Dearborn, MI	2.0	1.0	2198	$1,350	$0.61	24d	1	0.38mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	0.59mi
9260 Manor St Detroit, MI	2.0	1.0	2760	$950	$0.34	44d	1	0.63mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	0.99mi

Listing history 4 events

1. 2026-04-08
   status Pending

   Show marketing remark (96 chars)

   * * * * PENDING * * * Entered in Realcomp for comparable purposes only; no market exposure

2. 2026-04-08
   listed $115,000 Active

   Show marketing remark (96 chars)

   * * * * PENDING * * * Entered in Realcomp for comparable purposes only; no market exposure

3. 2026-04-08
   listed $115,000 96-char remark

   Show marketing remark (96 chars)

   * * * * PENDING * * * Entered in Realcomp for comparable purposes only; no market exposure

4. 2026-04-08
   historical 96-char remark

   Show marketing remark (96 chars)

   * * * * PENDING * * * Entered in Realcomp for comparable purposes only; no market exposure

ⓘ 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: $1,403 · $117/mo
• Projected year-2 tax: $1,587 · $132/mo
• Expected delta: +$184/yr (+$15/mo · 13.1%)

ⓘ 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) · 47% 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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,134
• − Mortgage interest: −$6,442
• − Property taxes: −$1,403
• − Insurance: −$575
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$3,345
• Taxable income: $2,627
• Est. tax owed @ 24.0%: −$631
• After-tax cash flow: $3,691/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

+0.0% since first listed

4 events — show timeline

• 2026-04-08 Pending — REALCOMP
• 2026-04-08 Listed $115,000 REALCOMP
• 2026-04-08 Listing Removed — MiRealSource-MiMLS
• 2026-04-08 Listed $115,000 MiRealSource-MiMLS

Property tax history

-3.5%/yr

Latest (2025): $1,403 · -12.7% YoY. Source: county tax records.