3524 S Bassett St · Detroit, MI 48217

$73,000

3 bd · 1.0 ba · 881 sqft · SingleFamily public records · 63 Days on market

Built 1945 4,356 sqft lot $83/sqft · 25% above area Est $58k · 25% over ↓ 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
• Appreciation +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

NICE HOME LOCATED IN DETROIT, 3 BEDS 1 BATH !!!THIS RANCH OFFERS A LARGE LIVING ROOM, SPACIOUS KITCHEN, FULL BATHROOM, BASEMENT FOR EXTRA LIVING SPACE AND/OR STORAGE.

Key facts

• 4,356 sq ft lot
• Built 1945
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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: 24 active listings in the ZIP; 14 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

• In year one you build about $584 of equity ($505 loan paydown + $79 appreciation (0.1% 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 (0.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y 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 $63k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,620 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 1945 — 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: 1.77% ✓
• Cap rate: 15.21%
• Cash-on-cash: 31.86%
• DSCR: 2.42
• GRM: 4.7

CMA / ARV

• ARV (median comp): $58,283
• List price: $73,000
• Delta: 25.25%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3929 14th St	0.38mi	3/1.0	876 (-1%)	3mo	$78,000	$89	79
1260 Marion Ave	0.49mi	3/1.0	874 (-1%)	1mo	$155,000	$177	75
4134 17th St	0.26mi	3/2.0	822 (-7%)	5mo	$59,000	$72	69
2906 S Ethel St	0.45mi	2/1.0 (-1)	892 (+1%)	6mo	$67,800	$76	67
2900 S Ethel St	0.46mi	2/1.0 (-1)	892 (+1%)	6mo	$67,800	$76	67
3027 Bassett St	0.34mi	3/1.0	962 (+9%)	3mo	$55,000	$57	67
3765 12th St	0.56mi	3/2.0	864 (-2%)	2mo	$50,000	$58	65
1368 Wilson Ave	0.61mi	3/1.0	912 (+4%)	5mo	$165,000	$181	62
12901 Visger St	0.75mi	3/1.0	862 (-2%)	1mo	$85,000	$99	61
2969 S Bassett St	0.39mi	3/1.0	775 (-12%)	2mo	$45,000	$58	60
1312 Ferris Ave	0.56mi	3/1.5	930 (+6%)	4mo	$117,000	$126	59
2544 S Beatrice St	0.67mi	3/1.0	956 (+8%)	3mo	$115,000	$120	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.61×
• Total profit: $32,807
• Equity at exit: $21,593

10-year hold

• IRR: 36.0%
• Equity multiple: 5.07×
• Total profit: $83,094
• Equity at exit: $26,275

Cash invested: $20,440 (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 48217

• Home prices YoY: 0.0%
• Active inventory: 24
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,295 high
• Mortgage (P&I): −$383
• Tax from tax record: −$67 /mo · $805/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $543

Break-even live

Break-even rent $608

Max offer price $73,000

Occupancy floor 53%

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	17d	1	0.03mi
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	16d	1	0.50mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	17d	1	0.78mi
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	24d	1	0.80mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	15d	1	0.93mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	24d	1	1.07mi
1774 Council Ave Lincoln Park, MI	3.0	1.0	864	$1,500	$1.74	1d	1	1.14mi
1774 College Ave Lincoln Park, MI	3.0	1.0	944	$1,525	$1.62	1d	1	1.19mi
875 Raupp Pl Unit 2 Lincoln Park, MI	2.0	1.0	800	$970	$1.21	16d	1	1.28mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	24d	1	1.28mi
4435 High St Ecorse, MI	2.0	1.0	792	$1,095	$1.38	5d	1	1.32mi
4573 3rd St Ecorse, MI	2.0	1.0	1000	$1,300	$1.30	15d	1	1.34mi
4471 High St Unit 71-7 Ecorse, MI	2.0	1.0	700	$1,150	$1.64	24d	1	1.38mi
4471 High St Unit 81-13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	24d	1	1.38mi

Listing history 47 events

1. 2026-06-18
   days on market $73,000 Active 63 DOM
2. 2026-06-17
   days on market $73,000 Active 62 DOM
3. 2026-06-15
   remarks 693-char remark
4. 2026-06-15
   days on market $73,000 Active 60 DOM
5. 2026-06-13
   days on market $73,000 Active 58 DOM
6. 2026-06-13
   days on market $73,000 Active 57 DOM
7. 2026-06-09
   days on market $73,000 Active 54 DOM
8. 2026-06-08
   days on market $73,000 Active 53 DOM
9. 2026-06-07
   days on market $73,000 Active 52 DOM
10. 2026-06-04
    days on market $73,000 Active 49 DOM
11. 2026-06-03
    days on market $73,000 Active 48 DOM
12. 2026-06-02
    days on market $73,000 Active 47 DOM
13. 2026-06-01
    days on market $73,000 Active 46 DOM
14. 2026-05-31
    days on market $73,000 Active 45 DOM
15. 2026-04-16
    listed $73,000 Active 166-char remark

    Show marketing remark (166 chars)

    NICE HOME LOCATED IN DETROIT, 3 BEDS 1 BATH !!!THIS RANCH OFFERS A LARGE LIVING ROOM, SPACIOUS KITCHEN, FULL BATHROOM, BASEMENT FOR EXTRA LIVING SPACE AND/OR STORAGE.

16. 2026-04-16
    listed $73,000 Active 166-char remark

    Show marketing remark (166 chars)

    NICE HOME LOCATED IN DETROIT, 3 BEDS 1 BATH !!!THIS RANCH OFFERS A LARGE LIVING ROOM, SPACIOUS KITCHEN, FULL BATHROOM, BASEMENT FOR EXTRA LIVING SPACE AND/OR STORAGE.

17. 2021-01-22
    soldstatus $62,900
18. 2020-07-30
    soldstatus $62,900
19. 2020-03-02
    soldstatus $22,500 Sold
20. 2020-03-02
    soldstatus $22,500 Closed
21. 2020-02-06
    status Pending
22. 2020-02-06
    status Pending
23. 2020-02-03
    historical
24. 2020-01-30
    price $23,000
25. 2020-01-30
    price $23,000
26. 2020-01-22
    listed $26,000 Active
27. 2020-01-22
    listed $26,000 Active
28. 2018-10-31
    soldstatus $17,500 Sold
29. 2018-10-31
    soldstatus $17,500 Closed
30. 2018-10-16
    status Pending
31. 2018-10-16
    status Pending
32. 2018-09-28
    price $18,000
33. 2018-09-27
    price $18,000
34. 2018-09-06
    price $18,400
35. 2018-09-05
    price $18,400
36. 2018-07-07
    listed $19,300 Active
37. 2018-07-07
    listed $19,300 Active
38. 2018-07-05
    historical
39. 2018-07-05
    historical
40. 2018-01-20
    price $19,500
41. 2018-01-19
    price $19,500
42. 2017-12-20
    listed $20,000 Active
43. 2017-12-20
    listed $20,000 Active
44. 2008-11-11
    soldstatus $5,500
45. 2008-07-08
    listed $6,000
46. 2005-12-15
    soldstatus $75,000
47. 2002-11-04
    soldstatus $83,000

ⓘ 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: $805 · $67/mo
• Projected year-2 tax: $964 · $80/mo
• Expected delta: +$160/yr (+$13/mo · 19.8%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,539
• − Mortgage interest: −$4,089
• − Property taxes: −$805
• − Insurance: −$365
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$2,124
• Taxable income: $5,670
• Est. tax owed @ 24.0%: −$1,361
• After-tax cash flow: $5,151/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): 6,437

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 (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 12% Two or more races 10% White 4%
• Hispanic origin (detail): Mexican 5% Dominican 4%
• Common ancestry: Lithuanian 6% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▲ 0.11%
• Current HPI: 366.479
• 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

-12.0% since first listed

33 events — show timeline

• 2026-04-16 Listed $73,000 REALCOMP
• 2026-04-16 Listed $73,000 MiRealSource-MiMLS
• 2021-01-22 Sold (Public Records) $62,900 Public Records
• 2020-07-30 Sold (Public Records) $62,900 Public Records
• 2020-03-02 Sold (MLS) $22,500 MiRealSource-MiMLS
• 2020-03-02 Sold (MLS) $22,500 REALCOMP
• 2020-02-06 Pending — MiRealSource-MiMLS
• 2020-02-06 Pending — REALCOMP
• 2020-02-03 Listing Removed — MiRealSource-MiMLS
• 2020-01-30 Price Changed $23,000 MiRealSource-MiMLS
• 2020-01-30 Price Changed $23,000 REALCOMP
• 2020-01-22 Listed $26,000 MiRealSource-MiMLS
• 2020-01-22 Listed $26,000 REALCOMP
• 2018-10-31 Sold (MLS) $17,500 MiRealSource-MiMLS
• 2018-10-31 Sold (MLS) $17,500 REALCOMP
• 2018-10-16 Pending — MiRealSource-MiMLS
• 2018-10-16 Pending — REALCOMP
• 2018-09-28 Price Changed $18,000 MiRealSource-MiMLS
• 2018-09-27 Price Changed $18,000 REALCOMP
• 2018-09-06 Price Changed $18,400 MiRealSource-MiMLS
• 2018-09-05 Price Changed $18,400 REALCOMP
• 2018-07-07 Listed $19,300 MiRealSource-MiMLS
• 2018-07-07 Listed $19,300 REALCOMP
• 2018-07-05 Listing Removed — REALCOMP
• 2018-07-05 Listing Removed — MiRealSource-MiMLS
• 2018-01-20 Price Changed $19,500 MiRealSource-MiMLS
• 2018-01-19 Price Changed $19,500 REALCOMP
• 2017-12-20 Listed $20,000 MiRealSource-MiMLS
• 2017-12-20 Listed $20,000 REALCOMP
• 2008-11-11 Sold (MLS) $5,500 REALCOMP
• 2008-07-08 Listed $6,000 REALCOMP
• 2005-12-15 Sold (Public Records) $75,000 Public Records
• 2002-11-04 Sold (Public Records) $83,000 Public Records

Property tax history

-4.8%/yr

Latest (2025): $805 · -7.2% YoY. Source: county tax records.