9360 Cheyenne St · Detroit, MI 48228

$49,999

2 bd · 1.0 ba · 1,430 sqft · SingleFamily public records · 85 Days on market

Built 1926 4,356 sqft lot $35/sqft · 17% below area Est $60k · 17% 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
• 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

ATTENTION INVESTORS! LAND CONTACT AVAILABLE! MOTIVATED SELLER. Remodel has begun. Bring your vision and finish the job! ARV $120k. BRING ALL OFFERS. INSPECTION REPORT AVAILABLE! Side lot available!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1926

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/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: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.4% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $1,232/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 $2k 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 85 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 18y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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: 2.46% ✓
• Cap rate: 21.36%
• Cash-on-cash: 53.83%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (median comp): $60,134
• List price: $49,999
• Delta: -16.85%
• 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
9338 Cheyenne St	0.02mi	3/1.0 (+1)	1,565 (+9%)	1mo	$50,000	$32	77
9141 Hartwell St	0.26mi	3/1.5 (+1)	1,431 (+0%)	6mo	$90,000	$63	76
9412 Steel St	0.19mi	3/1.5 (+1)	1,353 (-5%)	7mo	$95,000	$70	70
9119 Littlefield St	0.25mi	3/1.0 (+1)	1,298 (-9%)	2mo	$60,000	$46	66
9206 Pinehurst St	0.46mi	3/1.5 (+1)	1,308 (-8%)	3mo	$45,000	$34	55
10405 Orangelawn St	0.58mi	3/1.5 (+1)	1,350 (-6%)	3mo	$7,000	$5	54
9145 Pinehurst St	0.46mi	3/1.5 (+1)	1,240 (-13%)	5mo	$66,000	$53	45
10039 Mark Twain St	0.71mi	3/1.0 (+1)	1,334 (-7%)	7mo	$73,000	$55	44
8590 Littlefield St	0.50mi	3/1.5 (+1)	1,218 (-15%)	1mo	$100,000	$82	44
10327 Kramer St	0.68mi	3/1.5 (+1)	1,273 (-11%)	0mo	$133,770	$105	42
10340 Maplelawn St	0.68mi	3/2.0 (+1)	1,296 (-9%)	5mo	$27,000	$21	40
9576 Hubbell St	0.71mi	3/2.0 (+1)	1,270 (-11%)	6mo	$134,900	$106	34

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: 48.5%
• Equity multiple: 3.02×
• Total profit: $28,300
• Equity at exit: $7,455

10-year hold

• IRR: 52.8%
• Equity multiple: 5.45×
• Total profit: $62,262
• Equity at exit: $4,323

Cash invested: $14,000 (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: $1,232 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $628

Break-even live

Break-even rent $437

Max offer price $49,999

Occupancy floor 44%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	43d	1	0.06mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	43d	1	0.12mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	43d	1	0.35mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	43d	1	0.46mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.53mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	43d	1	0.53mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	43d	1	0.59mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	43d	1	0.61mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	43d	1	0.64mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	43d	1	0.75mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	43d	1	0.79mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.81mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	43d	1	0.81mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	16d	1	0.92mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	1d	1	0.96mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	17d	1	0.99mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	43d	1	1.02mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	43d	1	1.09mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	43d	1	1.11mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	24d	1	1.11mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	43d	1	1.11mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	43d	1	1.16mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	24d	1	1.16mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	14d	1	1.16mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	24d	1	1.17mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	24d	1	1.17mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	43d	1	1.18mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	16d	1	1.20mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	16d	1	1.25mi
8047 Robson St Detroit, MI	3.0	2.0	1184	$1,200	$1.01	43d	1	1.28mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	24d	1	1.30mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	43d	1	1.30mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	1.30mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	16d	1	1.30mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	16d	1	1.33mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.34mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	4d	1	1.38mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	16d	1	1.42mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	1.48mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	43d	1	1.50mi

Listing history 50 events

1. 2026-06-18
   days on market $49,999 Active 85 DOM
2. 2026-06-17
   days on market $49,999 Active 84 DOM
3. 2026-06-16
   remarks 234-char remark
4. 2026-06-15
   pricedays on market $49,999 Active 82 DOM
5. 2026-06-13
   days on market $59,999 Active 80 DOM
6. 2026-06-13
   days on market $59,999 Active 79 DOM
7. 2026-06-09
   days on market $59,999 Active 76 DOM
8. 2026-06-08
   days on market $59,999 Active 75 DOM
9. 2026-06-07
   remarks 225-char remark
10. 2026-06-07
    days on market $59,999 Active 74 DOM
11. 2026-06-04
    days on market $59,999 Active 71 DOM
12. 2026-06-03
    days on market $59,999 Active 70 DOM
13. 2026-06-02
    days on market $59,999 Active 69 DOM
14. 2026-06-01
    days on market $59,999 Active 68 DOM
15. 2026-05-31
    days on market $59,999 Active 67 DOM
16. 2026-03-25
    listed $59,999 Active 197-char remark

    Show marketing remark (197 chars)

    ATTENTION INVESTORS! LAND CONTACT AVAILABLE! MOTIVATED SELLER. Remodel has begun. Bring your vision and finish the job! ARV $120k. BRING ALL OFFERS. INSPECTION REPORT AVAILABLE! Side lot available!

17. 2026-03-25
    listed $59,999 Active 197-char remark

    Show marketing remark (197 chars)

    ATTENTION INVESTORS! LAND CONTACT AVAILABLE! MOTIVATED SELLER. Remodel has begun. Bring your vision and finish the job! ARV $120k. BRING ALL OFFERS. INSPECTION REPORT AVAILABLE! Side lot available!

18. 2026-02-05
    soldstatus $45,000
19. 2025-09-13
    status Pending
20. 2025-09-11
    soldstatus $64,000 Closed
21. 2025-09-11
    soldstatus $64,000 Closed
22. 2025-08-09
    price $46,900
23. 2025-08-09
    price $46,900
24. 2025-07-25
    price $54,900
25. 2025-07-24
    price $54,900
26. 2025-06-25
    listed $65,000 Active
27. 2025-06-25
    listed $65,000 Active
28. 2021-10-26
    soldstatus $45,000 Sold
29. 2021-10-26
    soldstatus $45,000 Closed
30. 2021-09-23
    status Pending
31. 2021-09-23
    status Pending
32. 2021-09-09
    price $45,000
33. 2021-09-08
    price $45,000
34. 2021-08-27
    status Active
35. 2021-08-27
    status Active
36. 2021-08-25
    price $64,900
37. 2021-08-25
    price $64,900
38. 2021-08-24
    historical Accepting Backup Offers
39. 2021-08-24
    historical Accepting Backup Offers
40. 2021-08-16
    status Pending
41. 2021-08-16
    status Pending
42. 2021-08-08
    status Active
43. 2021-08-08
    status Active
44. 2021-08-06
    status Pending
45. 2021-08-06
    status Pending
46. 2021-08-05
    listed $62,900 Active
47. 2021-08-05
    listed $62,900 Active
48. 2008-06-03
    soldstatus $6,000
49. 2008-04-14
    listed $5,900
50. 1998-11-30
    soldstatus $34,995

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $14,787
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$1,455
• Taxable income: $7,166
• Est. tax owed @ 24.0%: −$1,720
• After-tax cash flow: $5,816/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

+71.5% since first listed

35 events — show timeline

• 2026-03-25 Listed $59,999 REALCOMP
• 2026-03-25 Listed $59,999 MiRealSource-MiMLS
• 2026-02-05 Sold (Public Records) $45,000 Public Records
• 2025-09-13 Pending — REALCOMP
• 2025-09-11 Sold (MLS) $64,000 MiRealSource-MiMLS
• 2025-09-11 Sold (MLS) $64,000 REALCOMP
• 2025-08-09 Price Changed $46,900 MiRealSource-MiMLS
• 2025-08-09 Price Changed $46,900 REALCOMP
• 2025-07-25 Price Changed $54,900 MiRealSource-MiMLS
• 2025-07-24 Price Changed $54,900 REALCOMP
• 2025-06-25 Listed $65,000 REALCOMP
• 2025-06-25 Listed $65,000 MiRealSource-MiMLS
• 2021-10-26 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2021-10-26 Sold (MLS) $45,000 REALCOMP
• 2021-09-23 Pending — REALCOMP
• 2021-09-23 Pending — MiRealSource-MiMLS
• 2021-09-09 Price Changed $45,000 MiRealSource-MiMLS
• 2021-09-08 Price Changed $45,000 REALCOMP
• 2021-08-27 Relisted — MiRealSource-MiMLS
• 2021-08-27 Relisted — REALCOMP
• 2021-08-25 Price Changed $64,900 MiRealSource-MiMLS
• 2021-08-25 Price Changed $64,900 REALCOMP
• 2021-08-24 Contingent — MiRealSource-MiMLS
• 2021-08-24 Contingent — REALCOMP
• 2021-08-16 Pending — MiRealSource-MiMLS
• 2021-08-16 Pending — REALCOMP
• 2021-08-08 Relisted — MiRealSource-MiMLS
• 2021-08-08 Relisted — REALCOMP
• 2021-08-06 Pending — MiRealSource-MiMLS
• 2021-08-06 Pending — REALCOMP
• 2021-08-05 Listed $62,900 MiRealSource-MiMLS
• 2021-08-05 Listed $62,900 REALCOMP
• 2008-06-03 Sold (MLS) $6,000 REALCOMP
• 2008-04-14 Listed $5,900 REALCOMP
• 1998-11-30 Sold (Public Records) $34,995 Public Records

Property tax history

+8.2%/yr

Latest (2025): $3,040 · +0.8% YoY. Source: county tax records.