7410 Lamphere · Detroit, MI 48239

$137,000

3 bd · 1.0 ba · 860 sqft · SingleFamily public records · 279 Days on market

Built 1941 $159/sqft · 75% above area

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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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3 bedroom bungalow home boasts a new roof in 2025. It includes a stove, refrigerator, washer and dryer and partially finished basement. Home is well maintained!

Key facts

• New roof
• Built 1941
• Listed 279 days

Tags

• NEW ROOF
• PARTIALLY FINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $121k (12.0% 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: Rents rising (+3.2%/yr); 192 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $947 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

• It's been on market 279 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago 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 $14k; list at $137k implies a 879% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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: 1.11% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.95%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

• ARV (median comp): $90,840
• List price: $137,000
• Delta: 50.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7243 Dacosta	0.14mi	3/1.0	853 (-1%)	8mo	$75,000	$88	86
7420 Dacosta	0.06mi	3/1.0	840 (-2%)	20mo	$66,000	$79	76
7476 Beaverland	0.20mi	3/1.0	862 (+0%)	23mo	$119,900	$139	71
7336 Beaverland	0.19mi	2/1.0 (-1)	866 (+1%)	20mo	$115,000	$133	68
7491 Dacosta	0.08mi	2/2.0 (-1)	795 (-8%)	11mo	$95,000	$119	65
7507 Lamphere	0.10mi	2/1.0 (-1)	900 (+5%)	24mo	$105,000	$117	63
7568 Hazelton St	0.34mi	3/1.0	960 (+12%)	6mo	$141,000	$147	60
7845 Parkland	0.33mi	4/2.0 (+1)	949 (+10%)	5mo	$128,000	$135	54

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,577
• Equity at exit: $20,427

10-year hold

• IRR: 8.8%
• Equity multiple: 1.68×
• Total profit: $26,211
• Equity at exit: $11,845

Cash invested: $38,360 (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 48239

• Rents YoY: 3.2%
• Active inventory: 192
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,514 high
• Mortgage (P&I): −$718
• Tax from tax record: −$103 /mo · $1,232/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $318

Break-even live

Break-even rent $1,112

Max offer price $137,000

Occupancy floor 74%

Sensitivity live

Price	-10% $396	-5% $357	+0% $318	+5% $279	+10% $241
Rent	-10% $198	-5% $258	+0% $318	+5% $378	+10% $438
Rate	-1.0pp $387	-0.5pp $353	base $318	+0.5pp $283	+1.0pp $246

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	44d	1	0.15mi
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	3d	1	0.24mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	18d	1	0.84mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,600	$1.48	5d	1	0.84mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	44d	1	0.84mi
8270 Trinity St Detroit, MI	3.0	1.0	806	$1,528	$1.90	44d	1	0.90mi
7462 N Vernon St Dearborn Heights, MI	4.0	1.0	1113	$1,900	$1.71	0d	1	0.91mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	1.02mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	18d	1	1.06mi
8187 Lenore St Dearborn Heights, MI	2.0	1.0	768	$1,550	$2.02	44d	1	1.08mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	1.21mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.21mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	1.29mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	44d	1	1.29mi
7080 Highview St Dearborn Heights, MI	3.0	2.5	1105	$2,000	$1.81	19d	1	1.43mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	6d	1	1.48mi

Listing history 14 events

1. 2026-06-04
   days on market $137,000 Active 279 DOM
2. 2026-06-03
   days on market $137,000 Active 278 DOM
3. 2026-06-01
   days on market $137,000 Active 276 DOM
4. 2026-05-31
   days on market $137,000 Active 275 DOM
5. 2025-08-27
   listed $137,000 Active 174-char remark

   Show marketing remark (174 chars)

   This charming 3 bedroom bungalow home boasts a new roof in 2025. It includes a stove, refrigerator, washer and dryer and partially finished basement. Home is well maintained!

6. 2010-05-20
   soldstatus $14,000 193-char remark

   Show marketing remark (193 chars)

   HARDWOOD FLOOR IN LIVING ROOM. KNOTTY PINE IN MASTER BEDROOM. COVE CEILINGS. NEWER: ROOF 1-1/2 CAR GARAGE. STOVE & REFRIGERATOR. "AS IS" SELLER SAYS "MAKE AN OFFER!"

7. 2009-08-12
   listed $15,000 193-char remark

   Show marketing remark (193 chars)

   HARDWOOD FLOOR IN LIVING ROOM. KNOTTY PINE IN MASTER BEDROOM. COVE CEILINGS. NEWER: ROOF 1-1/2 CAR GARAGE. STOVE & REFRIGERATOR. "AS IS" SELLER SAYS "MAKE AN OFFER!"

8. 2002-06-03
   soldstatus $83,000
9. 2002-02-18
   soldstatus $83,000
10. 2002-01-17
    historical
11. 2001-08-14
    listed $89,900
12. 2000-05-09
    soldstatus $58,500
13. 1999-12-15
    soldstatus $58,500
14. 1999-08-10
    listed $64,000

ⓘ 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: $1,232 · $103/mo
• Projected year-2 tax: $1,671 · $139/mo
• Expected delta: +$439/yr (+$37/mo · 35.7%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,171
• − Mortgage interest: −$7,674
• − Property taxes: −$1,232
• − Insurance: −$685
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,985
• Taxable income: $1,687
• Est. tax owed @ 24.0%: −$405
• After-tax cash flow: $3,412/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): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+114.1% since first listed

10 events — show timeline

• 2025-08-27 Listed $137,000 Fizber.com
• 2010-05-20 Sold (MLS) $14,000 REALCOMP
• 2009-08-12 Listed $15,000 REALCOMP
• 2002-06-03 Sold (Public Records) $83,000 Public Records
• 2002-02-18 Sold (MLS) $83,000 MiRealSource-MiMLS
• 2002-01-17 Listing Removed — MiRealSource-MiMLS
• 2001-08-14 Listed $89,900 MiRealSource-MiMLS
• 2000-05-09 Sold (Public Records) $58,500 Public Records
• 1999-12-15 Sold (MLS) $58,500 REALCOMP
• 1999-08-10 Listed $64,000 REALCOMP

Property tax history

-2.5%/yr

Latest (2025): $1,232 · -8.9% YoY. Source: county tax records.