7395 Melrose St · Detroit, MI 48211

$70,000

3 bd · 1.0 ba · 1,226 sqft · SingleFamily public records · 48 Days on market

Built 1910 3,920 sqft lot $57/sqft · 56% below area ↓ 12% since listing

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0
• Schools +1.3/10.0

Listing remarks MLS

Investor special in the heart of Detroit! Welcome to 7395 Melrose — a rare opportunity to bring your vision to life. This 3-bedroom home has been fully gutted down to the studs, offering a clean slate for a complete custom rebuild. Whether you're looking to flip, rent, or design your dream home, the heavy lifting has already begun—now it’s your turn to transform it. Ideally located just minutes from Henry Ford Hospital, this property sits in a rapidly developing area surrounded by restaurants, shops, and everyday conveniences. You’re also a short drive from downtown, making this a prime location for future value and tenant appeal. Even better, a well-known Dutch Girl Donuts is set to open right down the street—adding even more buzz to the neighborhood. The home features a full basement with walk-out access, offering additional potential living space or storage. And here’s something you don’t see often in the city—a rare three-car garage, perfect for added income potential or personal use. Opportunities like this don’t come around often. Bring your contractor, your creativity, and your vision—this one is ready to be reimagined. Schedule your private showing today and fall in love with everything this home has to offer. BATVAI/IDLBNG. Measurements are estimated; buyer to verify. Seller is licensed agent in the state of Michigan and has interest in the property. Property is in construction condition; use caution when touring and enter at your own risk. Motivated sellers.

Key facts

• Fully gutted
• Walk-out access
• Three-car garage

Tags

• FULLY GUTTED
• CUSTOM REBUILD
• FULL BASEMENT
• WALK-OUT ACCESS
• THREE-CAR GARAGE

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$143,046) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $977 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.0% vs local median 10.0% 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: Golightly Education Center (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 351 students, 81% FRL); Southeastern High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 644 students, 87% FRL).
• Market conditions: 85 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $484 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 + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1910 — 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: 2.55% ✓
• Cap rate: 23.04%
• Cash-on-cash: 59.82%
• DSCR: 3.66
• GRM: 3.3

CMA / ARV

• ARV (median comp): $143,046
• List price: $70,000
• Delta: -51.06%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 Clay St	0.17mi	3/1.0	1,350 (+10%)	8mo	$18,000	$13	69
993 Mount Vernon St	0.33mi	3/1.0	1,194 (-3%)	17mo	$40,000	$34	66
7370 Melrose St	0.03mi	3/2.0	1,350 (+10%)	18mo	$235,000	$174	63
910 E Philadelphia St	0.48mi	3/1.5	1,130 (-8%)	19mo	$7,500	$7	47
650 Melbourne St	0.37mi	4/1.5 (+1)	1,360 (+11%)	18mo	$35,000	$26	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.5%
• Equity multiple: 3.60×
• Total profit: $50,881
• Equity at exit: $10,437

10-year hold

• IRR: 63.3%
• Equity multiple: 7.35×
• Total profit: $124,414
• Equity at exit: $6,052

Cash invested: $19,600 (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 48211

• Home prices YoY: -2.9%
• Active inventory: 85
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,782 high
• Mortgage (P&I): −$367
• Tax from tax record: −$34 /mo · $411/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $977

Break-even live

Break-even rent $545

Max offer price $70,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,017	-5% $997	+0% $977	+5% $957	+10% $937
Rent	-10% $836	-5% $907	+0% $977	+5% $1,047	+10% $1,118
Rate	-1.0pp $1,012	-0.5pp $995	base $977	+0.5pp $959	+1.0pp $940

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7436 Oakland St Detroit, MI	2.0	1.0	988	$1,625	$1.64	7d	1	0.05mi
1119 Custer St Unit 202 Detroit, MI	2.0	1.0	800	$1,150	$1.44	14d	1	0.11mi
207 E Baltimore Ave Apt 800 Detroit, MI	2.0	1.5	1100	$1,800	$1.64	17d	1	0.47mi
5918 St Antoine Unit 405 Detroit, MI	2.0	1.0	775	$1,750	$2.26	45d	1	0.53mi
5918 St Antoine Detroit, MI	2.0	1.0–2.0	1187	$3,370	$2.84	0d	2	0.53mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	0d	1	0.56mi
8416 Brush St Detroit, MI	3.0	1.5	1200	$2,200	$1.83	0d	1	0.56mi
557 Hague St Detroit, MI	2.0	1.0	1250	$1,400	$1.12	45d	1	0.61mi
36 Mount Vernon St Unit 5 Detroit, MI	3.0	2.5	1484	$2,300	$1.55	0d	1	0.62mi
30 W Bethune St Detroit, MI	2.0	1.5	1254	$2,100	$1.67	45d	1	0.62mi
59 Seward St Detroit, MI	1.0–2.0	1.0	976	$1,363	$1.40	45d	1	0.68mi
68 E Philadelphia St Detroit, MI	3.0	2.0	1000	$1,750	$1.75	45d	1	0.70mi
7430 2nd Ave Unit 0312 Detroit, MI	2.0	2.0	877	$2,150	$2.45	45d	1	0.71mi
7430 2nd Ave Unit 1012 Detroit, MI	2.0	2.0	1100	$3,500	$3.18	45d	1	0.71mi
100 Seward Ave Detroit, MI	2.0	1.0–2.0	905	$1,575	$1.74	23d	1	0.74mi
275 E Palmer St Detroit, MI	3.0	3.0	1500	$2,950	$1.97	45d	1	0.77mi
450 Amsterdam St Detroit, MI	2.0	1.0–2.0	630	$2,720	$4.32	0d	18	0.79mi
6200 2nd Ave Detroit, MI	1.0–2.0	1.0	914	$1,860	$2.03	4d	2	0.82mi
609 E Kirby St Detroit, MI	1.0–2.0	1.0–2.0	817	$1,850	$2.26	13d	3	0.84mi
73 E Palmer St Detroit, MI	1.0–2.0	1.0	725	$1,355	$1.87	12d	2	0.87mi
524 E Kirby St Unit 2EAST Detroit, MI	2.0	1.0	1100	$2,099	$1.91	22d	1	0.89mi
506 E Kirby St Unit 6 Detroit, MI	3.0	1.0	1000	$1,399	$1.40	14d	1	0.90mi
516 E Kirby St Unit 11 Detroit, MI	2.0	1.0	1000	$1,350	$1.35	45d	1	0.90mi
700 Seward Ave Detroit, MI	2.0	1.0	968	$1,805	$1.86	0d	2	0.91mi
888 Pallister Detroit, MI	1.0–2.0	1.0	609	$1,250	$2.05	45d	1	0.99mi
15 E Kirby St #217 Detroit, MI	2.0	2.0	1280	$2,600	$2.03	45d	1	1.00mi
156 Leicester Ct Apt 2 Detroit, MI	3.0	1.0	1000	$1,250	$1.25	45d	1	1.02mi
645 Gladstone Ave Unit 2W Detroit, MI	2.0	1.0	720	$1,100	$1.53	0d	1	1.05mi
5440 Cass Ave Detroit, MI	2.0	1.0–2.0	650	$1,754	$2.70	23d	6	1.06mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	45d	1	1.07mi
715 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	22d	1	1.11mi
719 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	22d	1	1.11mi
70 Clairmount Ave Unit 2B Detroit, MI	2.0	1.0	955	$1,400	$1.47	4d	1	1.11mi
1973 E Grand Blvd Detroit, MI	2.0	1.0	840	$1,750	$2.08	45d	1	1.19mi
2297 Florian St Unit 2297 Hamtramck, MI	2.0	1.0	1500	$1,250	$0.83	26d	1	1.25mi
8263 Merrill St Detroit, MI	2.0	1.5	1092	$1,600	$1.47	45d	1	1.27mi
1226 Virginia Park St Unit 1226 Virginia Park, Upper V 1/10/26 (T) Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	1.27mi
2228 Norwalk St Hamtramck, MI	2.0	1.0	866	$1,149	$1.33	16d	1	1.29mi
1400 Seward Ave Detroit, MI	2.0	1.0	950	$1,295	$1.36	7d	1	1.35mi
1400 Seward Ave Unit 305 Detroit, MI	2.0	1.0	950	$1,295	$1.36	7d	1	1.35mi

Listing history 3 events

1. 2026-04-07
   price $70,000 1552-char remark

   Show marketing remark (1552 chars)

   Investor special in the heart of Detroit! Welcome to 7395 Melrose — a rare opportunity to bring your vision to life. This 3-bedroom home has been fully gutted down to the studs, offering a clean slate for a complete custom rebuild. Whether you're looking to flip, rent, or design your dream home, the heavy lifting has already begun—now it’s your turn to transform it. Ideally located just minutes from Henry Ford Hospital, this property sits in a rapidly developing area surrounded by restaurants, shops, and everyday conveniences. You’re also a short drive from downtown, making this a prime location for future value and tenant appeal. Even better, a well-known Dutch Girl Donuts is set to open right down the street—adding even more buzz to the neighborhood. The home features a full basement with walk-out access, offering additional potential living space or storage. And here’s something you don’t see often in the city—a rare three-car garage, perfect for added income potential or personal use. Opportunities like this don’t come around often. Bring your contractor, your creativity, and your vision—this one is ready to be reimagined. Schedule your private showing today and fall in love with everything this home has to offer. BATVAI/IDLBNG. Measurements are estimated; buyer to verify. Seller is licensed agent in the state of Michigan and has interest in the property. Property is in construction condition; use caution when touring and enter at your own risk. Motivated sellers.

2. 2026-04-02
   listed $80,000 Active 1552-char remark

   Show marketing remark (1502 chars)

   Investor special in the heart of Detroit! Welcome to 7395 Melrose - a rare opportunity to bring your vision to life. This 3-bedroom home has been fully gutted down to the studs, offering a clean slate for a complete custom rebuild. Whether you're looking to flip, rent, or design your dream home, the heavy lifting has already begun - now it's your turn to transform it. Ideally located just minutes from Henry Ford Hospital, this property sits in a rapidly developing area surrounded by restaurants, shops, and everyday conveniences. You're also a short drive from downtown, making this a prime location for future value and tenant appeal. Even better, a well-known Dutch Girl Donuts is set to open right down the street - adding even more buzz to the neighborhood. The home features a full basement with walk-out access, offering additional potential living space or storage. And here's something you don't see often in the city - a rare three-car garage, perfect for added income potential or personal use. Opportunities like this don't come around often. Bring your contractor, your creativity, and your vision - this one is ready to be reimagined. Schedule your private showing today and fall in love with everything this home has to offer. BATVAI/IDLBNG. Measurements are estimated; buyer to verify. Seller is licensed agent in the state of Michigan and has interest in the property. Property is in construction condition; use caution when touring and enter at your own risk. Motivated sellers.

3. 2026-04-02
   listed $70,000 Active 1502-char remark

   Show marketing remark (1502 chars)

   Investor special in the heart of Detroit! Welcome to 7395 Melrose - a rare opportunity to bring your vision to life. This 3-bedroom home has been fully gutted down to the studs, offering a clean slate for a complete custom rebuild. Whether you're looking to flip, rent, or design your dream home, the heavy lifting has already begun - now it's your turn to transform it. Ideally located just minutes from Henry Ford Hospital, this property sits in a rapidly developing area surrounded by restaurants, shops, and everyday conveniences. You're also a short drive from downtown, making this a prime location for future value and tenant appeal. Even better, a well-known Dutch Girl Donuts is set to open right down the street - adding even more buzz to the neighborhood. The home features a full basement with walk-out access, offering additional potential living space or storage. And here's something you don't see often in the city - a rare three-car garage, perfect for added income potential or personal use. Opportunities like this don't come around often. Bring your contractor, your creativity, and your vision - this one is ready to be reimagined. Schedule your private showing today and fall in love with everything this home has to offer. BATVAI/IDLBNG. Measurements are estimated; buyer to verify. Seller is licensed agent in the state of Michigan and has interest in the property. Property is in construction condition; use caution when touring and enter at your own risk. Motivated sellers.

ⓘ 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: $411 · $34/mo
• Projected year-2 tax: $744 · $62/mo
• Expected delta: +$334/yr (+$28/mo · 81.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,381
• − Mortgage interest: −$3,921
• − Property taxes: −$411
• − Insurance: −$350
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − Depreciation: −$2,036
• Taxable income: $11,241
• Est. tax owed @ 24.0%: −$2,698
• After-tax cash flow: $9,027/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
• City population: 572,865
• Population (ZIP): 5,556

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 45% Black 42% Two or more races 7% Asian 2% Hispanic / Latino 2% Native American 1%
• Common ancestry: Romanian 1% Slovak 1%
• Foreign-born: 25% · Canada
• Languages at home: 57% English-only · Arabic 38% Spanish 1% Tagalog/Filipino 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: ▼ -5.80%
• Current HPI: 191.8607
• Rent YoY: —
• Metro: —
• 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

-12.5% since first listed

3 events — show timeline

• 2026-04-07 Price Changed $70,000 REALCOMP
• 2026-04-02 Listed $70,000 MiRealSource-MiMLS
• 2026-04-02 Listed $80,000 REALCOMP

Property tax history

+0.5%/yr

Latest (2025): $411 · -2.4% YoY. Source: county tax records.