16524 Pierson St · Detroit, MI 48219 3965

$77,900

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 10 Days on market

Built 1931 Fair condition 6,098 sqft lot Garage $60/sqft · 33% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0

Listing remarks

Classic Detroit 3 bed colonial with 2 car garage. Lots of opportunity here with equity to the upside. If your looking for a house you can live in while working on the finishing touches - this is a contender. Nice bones. Large lot with a 2 car garage. Classic colonial layout with 3 beds, 1 bath and large rooms. 1st floor features large kitchen, dining room, and large living room. 2nd floor features 3 bedrooms and full bath. This property is fully functional and needs your finishing touches. . BATVAD.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1931

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Cap rate 14.5% vs local median 9.6% 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: 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.
• Zoned schools: Emerson Elementarymiddle School (519 students, 90% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 89d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($539 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $32k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.74% ✓
• Cap rate: 14.50%
• Cash-on-cash: 29.30%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (median comp): $177,200
• List price: $77,900
• Delta: -56.04%
• 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
16124 Fielding St	0.21mi	3/2.0	1,300 (+1%)	3mo	$206,000	$158	82
15731 Kentfield St	0.44mi	3/1.0	1,290 (0%)	0mo	$165,000	$128	80
16115 Westbrook St	0.29mi	3/1.5	1,312 (+2%)	7mo	$77,400	$59	76
16871 Pierson St	0.29mi	3/1.0	1,242 (-4%)	6mo	$130,000	$105	76
17251 Fielding St	0.51mi	3/1.0	1,260 (-2%)	1mo	$85,000	$67	72
16216 Westbrook St	0.23mi	3/1.5	1,378 (+7%)	7mo	$72,500	$53	70
15751 Vaughan St	0.49mi	3/1.5	1,244 (-4%)	6mo	$110,000	$88	65
16122 Trinity St	0.17mi	3/2.5	1,152 (-11%)	7mo	$169,900	$147	63
16616 Blackstone St	0.19mi	2/1.0 (-1)	1,102 (-15%)	4mo	$45,000	$41	59
15329 Vaughan St	0.70mi	3/1.5	1,321 (+2%)	3mo	$180,000	$136	58
15435 Fielding St	0.51mi	2/1.0 (-1)	1,432 (+11%)	4mo	$58,000	$41	49
15776 Evergreen Rd	0.53mi	3/1.0	1,122 (-13%)	8mo	$60,000	$53	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.2%
• Equity multiple: 2.99×
• Total profit: $43,324
• Equity at exit: $35,027

10-year hold

• IRR: 35.3%
• Equity multiple: 5.89×
• Total profit: $106,733
• Equity at exit: $53,981

Cash invested: $21,812 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 35 active · 21 under contract
• Months of supply: 10.5 mo (10%/mo absorbed)
• Median asking: $92,000 ($74/sqft)
• Median days on market: 60 d
• This list price: 31% of active listings are priced below it
• ARV vs active asking: +86.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48219 3965

• Active inventory: 1
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,356 high
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$97 /mo · $1,168/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $533

Break-even live

Break-even rent $681

Max offer price $77,900

Occupancy floor 56%

Sensitivity live

Price	-10% $586	-5% $559	+0% $533	+5% $506	+10% $479
Rent	-10% $425	-5% $479	+0% $533	+5% $586	+10% $640
Rate	-1.0pp $572	-0.5pp $552	base $533	+0.5pp $512	+1.0pp $492

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: $19,475
• Closing costs: $2,337
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	139d	1	0.19mi
16565 Blackstone St Detroit, MI	3.0	1.5	1592	$1,575	$0.99	139d	1	0.21mi
15811 Trinity St Detroit, MI	2.0	1.0	1000	$1,268	$1.27	5d	1	0.30mi
15881 Kentfield St Detroit, MI	3.0	2.0	1200	$1,600	$1.33	79d	1	0.31mi
15758 Fielding St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	0.36mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,200	$0.89	43d	1	0.48mi
15485 Stout St Detroit, MI	3.0	1.0	1108	$1,299	$1.17	30d	1	0.48mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	110d	1	0.54mi
15421 Stout St Detroit, MI	3.0	1.0	1003	$1,100	$1.10	34d	1	0.54mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,499	$1.00	43d	1	0.56mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	100d	1	0.59mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	112d	1	0.64mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	120d	1	0.65mi
15328 Kentfield St Detroit, MI	3.0	1.5	1120	$1,350	$1.21	6d	1	0.66mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	139d	1	0.68mi
21345 Bennett St Detroit, MI	4.0	1.0	1500	$1,475	$0.98	71d	1	0.72mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	139d	1	0.75mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	112d	1	0.79mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,000	$0.96	67d	1	0.88mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	112d	1	0.88mi
15767 Lamphere St Detroit, MI	2.0	1.0	900	$920	$1.02	43d	1	0.89mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	112d	1	0.91mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,025	$1.14	75d	1	0.91mi
17400 Huntington Rd Detroit, MI	3.0	2.0	1380	$1,450	$1.05	10d	1	0.92mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,300	$1.43	89d	1	0.93mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	120d	1	0.93mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	139d	1	0.96mi
18226 Kentfield St Detroit, MI	3.0	1.0	892	$1,300	$1.46	18d	1	0.96mi
14828 Heyden St Detroit, MI	3.0	1.0	1562	$1,400	$0.90	76d	1	1.01mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	113d	1	1.02mi
21434 Karl St Detroit, MI	2.0	1.0	1000	$1,350	$1.35	139d	1	1.02mi
17678 Edinborough Rd Detroit, MI	3.0	1.5	1528	$1,650	$1.08	112d	1	1.03mi
17678 Edinborough Rd Detroit, MI	3.0	1.5	1528	$1,650	$1.08	110d	1	1.03mi
18437 Trinity St Detroit, MI	3.0	1.0	875	$1,322	$1.51	43d	1	1.04mi
21455 Pickford St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	139d	1	1.06mi
18450 Stout St Detroit, MI	3.0	1.0	923	$1,150	$1.25	77d	1	1.06mi
16146 W Parkway St Detroit, MI	3.0	1.0	1100	$1,400	$1.27	10d	1	1.07mi
18331 Burgess Detroit, MI	3.0	1.0	1100	$1,200	$1.09	69d	1	1.07mi
18331 Burgess Detroit, MI	3.0	1.0	1152	$1,190	$1.03	10d	1	1.07mi
17328 McIntyre St Unit 2 Detroit, MI	3.0	1.0	1200	$1,250	$1.04	139d	1	1.08mi

Property features AI

Exterior

• Parking: Detached garage (2 car) with interior dimensions about 19 x 18
• Utilities: Public water
• Home design: Residential 2-story homeBuilt in 1931
• Construction: Aluminum, brick and other exterior constructionBasement foundation
• Exterior features: Fenced yardPorchPaved street accessFrontage approximately 50 feet

Interior

• Kitchen: Kitchen on entry level (approx. 12 x 10)Ceramic kitchen flooring
• Bedrooms: Three bedrooms located on the second floorBedroom sizes approximately 9 x 10; 12 x 11; and 10 (width listed)Laminate flooring in all bedrooms
• Flooring: Laminate flooring in living room, dining room, and bedroomsCeramic flooring in kitchen and bathroom
• Bathrooms: One full bathroom on the second floorCeramic floor in bathroom (approx. 8 x 7)
• Heating & cooling: Forced air heatingNatural gas fuel
• Interior features: 7 total roomsUnfinished basement
• Laundry & utility: Basement present (unfinished) for laundry/utility space

Listing history 28 events

1. 2026-09-24
   days on market $77,900 Active 10 DOM
2. 2026-09-23
   days on market $77,900 Active 9 DOM
3. 2026-09-22
   days on market $77,900 Active 8 DOM
4. 2026-09-21
   days on market $77,900 Active 7 DOM
5. 2026-09-20
   days on market $77,900 Active 6 DOM
6. 2026-09-19
   days on market $77,900 Active 5 DOM
7. 2026-09-18
   days on market $77,900 Active 4 DOM
8. 2026-09-17
   days on market $77,900 Active 3 DOM
9. 2026-09-16
   days on market $77,900 Active 2 DOM
10. 2026-09-15
    statusdays on market $77,900 Active 1 DOM
11. 2026-09-14
    days on market $77,900 Coming Soon 3 DOM
12. 2026-09-13
    days on market $77,900 Coming Soon 2 DOM
13. 2026-09-12
    pricestatusdays on marketlisting id $77,900 Coming Soon 1 DOM
14. 2026-06-09
    days on market $94,000 Active 156 DOM
15. 2026-06-08
    days on market $94,000 Active 155 DOM
16. 2026-06-08
    price $94,000 Active 154 DOM
17. 2026-06-07
    days on market $99,000 Active 154 DOM
18. 2026-06-04
    days on market $99,000 Active 151 DOM
19. 2026-06-03
    days on market $99,000 Active 150 DOM
20. 2026-06-01
    days on market $99,000 Active 148 DOM
21. 2026-05-31
    days on market $99,000 Active 147 DOM
22. 2026-01-04
    listed $110,000 Active 506-char remark
23. 2026-01-04
    listed $110,000 Active 504-char remark
24. 2007-06-24
    historical
25. 2007-06-05
    historical
26. 2007-04-24
    listed $7,900
27. 2007-04-24
    listed $7,900
28. 2007-04-24
    listed $7,900

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 14 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: $16,267
• − Mortgage interest: −$4,364
• − Property taxes: −$1,168
• − Insurance: −$390
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$2,266
• Taxable income: $5,477
• Est. tax owed @ 24.0%: −$1,314
• After-tax cash flow: $5,076/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $32,250–$58,050 screening

This home requires significant repairs and maintenance to improve its condition and value. A new roof, exterior siding, and flooring are the top priorities to increase its resale and rental value.

Repairs flagged

• Major roof — Significant visible damage
• Major exterior siding — Significant wear and tear
• Major flooring — Significant wear and tear
• Major interior walls/paint — Significant wear and tear
• Moderate HVAC/mechanicals — Likely outdated
• Major landscaping — Overgrown and unkempt

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and value ↑
• Resale exterior siding repair — A new exterior will improve the home's curb appeal and value ↑
• Resale flooring replacement — New flooring will improve the home's appearance and value ↑
• Resale interior paint — Fresh paint will improve the home's appearance and value ↑
• Both HVAC upgrade — An updated HVAC system will improve comfort and energy efficiency ↑
• Resale landscaping — A well-maintained landscape will improve the home's curb appeal and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 24/100

Zoned Schools

Elementary Emerson Elementarymiddle School High Henry Ford High School F MI #481/713 Nat'l #12,478/17,239

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

B Composite livability gradescore 73/100

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

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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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Exterior

• Parking: Detached garage (2 car) with interior dimensions about 19 x 18
• Utilities: Public water
• Home design: Residential 2-story homeBuilt in 1931
• Construction: Aluminum, brick and other exterior constructionBasement foundation
• Exterior features: Fenced yardPorchPaved street accessFrontage approximately 50 feet

Interior

• Kitchen: Kitchen on entry level (approx. 12 x 10)Ceramic kitchen flooring
• Bedrooms: Three bedrooms located on the second floorBedroom sizes approximately 9 x 10; 12 x 11; and 10 (width listed)Laminate flooring in all bedrooms
• Flooring: Laminate flooring in living room, dining room, and bedroomsCeramic flooring in kitchen and bathroom
• Bathrooms: One full bathroom on the second floorCeramic floor in bathroom (approx. 8 x 7)
• Heating & cooling: Forced air heatingNatural gas fuel
• Interior features: 7 total roomsUnfinished basement
• Laundry & utility: Basement present (unfinished) for laundry/utility space

Price history

+886.1% since first listed

15 events — show timeline

• 2026-09-12 Coming Soon $77,900 MiRealSource-MiMLS
• 2026-06-12 Listing Removed — Greater Lansing AoR
• 2026-06-12 Listing Removed — MiRealSource-MiMLS
• 2026-06-12 Listing Removed — REALCOMP
• 2026-06-08 Price Changed $94,000 MiRealSource-MiMLS
• 2026-06-07 Price Changed $94,000 REALCOMP
• 2026-05-26 Price Changed $99,000 MiRealSource-MiMLS
• 2026-05-26 Price Changed $99,000 REALCOMP
• 2026-01-04 Listed $110,000 MiRealSource-MiMLS
• 2026-01-04 Listed $110,000 REALCOMP
• 2007-06-24 Listing Removed — MiRealSource-MiMLS
• 2007-06-05 Listing Removed — REALCOMP
• 2007-04-24 Listed $7,900 REALCOMP
• 2007-04-24 Listed $7,900 REALCOMP
• 2007-04-24 Listed $7,900 MiRealSource-MiMLS

Property tax history

+32.2%/yr

Latest (2025): $7,693 · +192.3% YoY. Source: county tax records.