2321 Oakman Blvd · Detroit, MI 48238

$99,900

4 bd · 2.0 ba · 2,238 sqft · SingleFamily public records · 21 Days on market

Built 1939 6,098 sqft lot Est $132k · 24% under ↓ 14% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPLE OFFERS - OFFER DEADLINE FEBRUARY 24TH @ 5PM - Add this 4 bedroom, 2.5 bathroom brick colonial located on the beautiful Oakman Blvd to your rental portfolio today OR make it your next fix-n-flip project, with the ARV as high as 250-275K! There is currently a long-term, excellent tenant in the home on a month-to-month lease who is paying $1,300/month with an excellent payment history! The home features updated vinyl windows, a newer high-efficiency forced air furnace, a 100 amp electrical panel, 4 spacious bedrooms including one with an en suite full bathroom, gorgeous original tile in the bathrooms, an updated kitchen, a 3 seasons room, a 2-car garage, and so much more! CASH, CONVIENTIONAL, OR HARD MONEY ONLY, NO SELLER FINANCING! Sale is subject to court approval.

Key facts

• 3 seasons room
• Updated kitchen
• Brick colonial

Tags

• BRICK COLONIAL
• UPDATED VINYL WINDOWS
• 100 AMP ELECTRICAL PANEL
• GORGEOUS ORIGINAL TILE
• UPDATED KITCHEN
• 3 SEASONS ROOM

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$132,042) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+6.1%/yr); 346 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,523/mo this rent would consume 55% of the median local household income ($33k/yr) (locally 2172% 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 $691 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 11 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 $30k; list at $100k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — 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: 1.52% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.77%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $132,042
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4205 Fullerton St	0.61mi	4/2.5	2,183 (-2%)	1mo	$75,000	$34	64
3300 Waverly St	0.34mi	5/1.5 (+1)	1,988 (-11%)	0mo	$115,000	$58	58
3359 Leslie St	0.54mi	3/2.5 (-1)	2,288 (+2%)	10mo	$7,000	$3	55
3151 Ewald Cir	0.71mi	3/1.5 (-1)	2,185 (-2%)	2mo	$127,000	$58	54
2989 Oakman Ct	0.39mi	4/1.5	1,919 (-14%)	4mo	$60,000	$31	52
2978 Doris St	0.45mi	4/2.0	1,934 (-14%)	5mo	$33,000	$17	52
12805 Broadstreet Ave	0.57mi	4/2.5	2,457 (+10%)	7mo	$145,000	$59	49
3010 Fullerton St	0.66mi	4/2.0	1,993 (-11%)	2mo	$123,000	$62	49
4357 Fullerton St	0.66mi	4/2.5	2,112 (-6%)	12mo	$125,000	$59	48
4268 Sturtevant St	0.66mi	4/1.5	2,102 (-6%)	12mo	$210,000	$100	47
3790 Fullerton St	0.56mi	3/2.5 (-1)	2,534 (+13%)	7mo	$248,000	$98	39
4069 Sturtevant St	0.66mi	3/3.5 (-1)	1,921 (-14%)	2mo	$320,000	$167	32

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.75×
• Total profit: $21,117
• Equity at exit: $14,895

10-year hold

• IRR: 28.5%
• Equity multiple: 3.93×
• Total profit: $81,826
• Equity at exit: $8,638

Cash invested: $27,972 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$524
• Tax from tax record: −$130 /mo · $1,559/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $507

Break-even live

Break-even rent $880

Max offer price $99,900

Occupancy floor 62%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	43d	1	0.33mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	23d	1	0.35mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	4d	1	0.55mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	0.55mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	0.69mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	16d	1	0.84mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	14d	1	0.93mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	43d	1	1.02mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	1.02mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.03mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.03mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	43d	1	1.05mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	43d	1	1.06mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	1.19mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	1.21mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	43d	1	1.24mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	1.29mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	1.35mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.36mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	24d	1	1.47mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	3d	1	1.47mi

Listing history 25 events

1. 2026-03-04
   status Pending 783-char remark

   Show marketing remark (783 chars)

   MULTIPLE OFFERS - OFFER DEADLINE FEBRUARY 24TH @ 5PM - Add this 4 bedroom, 2.5 bathroom brick colonial located on the beautiful Oakman Blvd to your rental portfolio today OR make it your next fix-n-flip project, with the ARV as high as 250-275K! There is currently a long-term, excellent tenant in the home on a month-to-month lease who is paying $1,300/month with an excellent payment history! The home features updated vinyl windows, a newer high-efficiency forced air furnace, a 100 amp electrical panel, 4 spacious bedrooms including one with an en suite full bathroom, gorgeous original tile in the bathrooms, an updated kitchen, a 3 seasons room, a 2-car garage, and so much more! CASH, CONVIENTIONAL, OR HARD MONEY ONLY, NO SELLER FINANCING! Sale is subject to court approval.

2. 2026-03-04
   status Pending

   Show marketing remark (783 chars)

   MULTIPLE OFFERS - OFFER DEADLINE FEBRUARY 24TH @ 5PM - Add this 4 bedroom, 2.5 bathroom brick colonial located on the beautiful Oakman Blvd to your rental portfolio today OR make it your next fix-n-flip project, with the ARV as high as 250-275K! There is currently a long-term, excellent tenant in the home on a month-to-month lease who is paying $1,300/month with an excellent payment history! The home features updated vinyl windows, a newer high-efficiency forced air furnace, a 100 amp electrical panel, 4 spacious bedrooms including one with an en suite full bathroom, gorgeous original tile in the bathrooms, an updated kitchen, a 3 seasons room, a 2-car garage, and so much more! CASH, CONVIENTIONAL, OR HARD MONEY ONLY, NO SELLER FINANCING! Sale is subject to court approval.

3. 2026-02-11
   listed $99,900 Active
4. 2026-02-10
   listed $99,900 Active 783-char remark

   Show marketing remark (783 chars)

   MULTIPLE OFFERS - OFFER DEADLINE FEBRUARY 24TH @ 5PM - Add this 4 bedroom, 2.5 bathroom brick colonial located on the beautiful Oakman Blvd to your rental portfolio today OR make it your next fix-n-flip project, with the ARV as high as 250-275K! There is currently a long-term, excellent tenant in the home on a month-to-month lease who is paying $1,300/month with an excellent payment history! The home features updated vinyl windows, a newer high-efficiency forced air furnace, a 100 amp electrical panel, 4 spacious bedrooms including one with an en suite full bathroom, gorgeous original tile in the bathrooms, an updated kitchen, a 3 seasons room, a 2-car garage, and so much more! CASH, CONVIENTIONAL, OR HARD MONEY ONLY, NO SELLER FINANCING! Sale is subject to court approval.

5. 2015-04-03
   historical
6. 2015-04-03
   historical
7. 2015-02-05
   listed $89,900 Active
8. 2015-02-04
   listed $89,900
9. 2009-03-13
   soldstatus $30,000
10. 2009-03-13
    soldstatus $30,000
11. 2009-03-03
    historical
12. 2008-12-20
    listed $57,556
13. 2008-12-20
    listed $57,556
14. 2008-12-09
    historical
15. 2008-09-09
    listed $62,560
16. 2005-04-06
    soldstatus $174,000
17. 2005-02-04
    soldstatus $174,000
18. 2004-10-25
    historical
19. 2004-10-24
    listed $179,900
20. 2004-09-19
    listed $187,900
21. 2000-03-25
    historical
22. 1999-10-24
    historical
23. 1999-10-23
    listed $166,000
24. 1999-09-10
    listed $169,900
25. 1999-08-27
    soldstatus $116,000

ⓘ 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: $1,559 · $130/mo
• Projected year-2 tax: $1,559 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥97°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: $18,271
• − Mortgage interest: −$5,596
• − Property taxes: −$1,559
• − Insurance: −$500
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$2,906
• Taxable income: $4,787
• Est. tax owed @ 24.0%: −$1,149
• After-tax cash flow: $4,940/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-13.9% since first listed

25 events — show timeline

• 2026-03-04 Pending — MiRealSource-MiMLS
• 2026-03-04 Pending — REALCOMP
• 2026-02-11 Listed $99,900 REALCOMP
• 2026-02-10 Listed $99,900 MiRealSource-MiMLS
• 2015-04-03 Listing Removed — REALCOMP
• 2015-04-03 Listing Removed — MiRealSource-MiMLS
• 2015-02-05 Listed $89,900 REALCOMP
• 2015-02-04 Listed $89,900 MiRealSource-MiMLS
• 2009-03-13 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2009-03-13 Sold (MLS) $30,000 REALCOMP
• 2009-03-03 Listing Removed — MiRealSource-MiMLS
• 2008-12-20 Listed $57,556 MiRealSource-MiMLS
• 2008-12-20 Listed $57,556 REALCOMP
• 2008-12-09 Listing Removed — REALCOMP
• 2008-09-09 Listed $62,560 REALCOMP
• 2005-04-06 Sold (Public Records) $174,000 Public Records
• 2005-02-04 Sold (MLS) $174,000 REALCOMP
• 2004-10-25 Listing Removed — REALCOMP
• 2004-10-24 Listed $179,900 REALCOMP
• 2004-09-19 Listed $187,900 REALCOMP
• 2000-03-25 Listing Removed — REALCOMP
• 1999-10-24 Listing Removed — REALCOMP
• 1999-10-23 Listed $166,000 REALCOMP
• 1999-09-10 Listed $169,900 REALCOMP
• 1999-08-27 Sold (Public Records) $116,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,559 · -54.1% YoY. Source: county tax records.