2332 8th St · Wyandotte, MI 48192

$192,000

6 bd · 2.0 ba · 2,304 sqft · SingleFamily public records · 4 Days on market

Built 1919 3,049 sqft lot Est $334k · 43% under

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Why this score? — see what drove the C+ 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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.9/10.0
• Rent growth +4.5/5.0
• Livability +4.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two family income with both units having 3 bedrooms and full bathroom. Enclosed front porch. Lower unit has 3 bedrooms, full bathroom, dining room, living room and kitchen. upper unit has 3 bedrooms, full bathroom, dining room, kitchen and living room. Sperate electrical service. Full basement with 2 storage rooms. Upper unit has been freshly painted, some newer drywall and newer lights.

Key facts

• Newer drywall
• Freshly painted
• Full basement

Tags

• ENCLOSED FRONT PORCH
• SEPARATE ELECTRICAL SERVICE
• FULL BASEMENT
• STORAGE ROOMS
• FRESHLY PAINTED
• NEWER DRYWALL

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (0.9% below list).
• Recommended offer: $190k (0.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.9% in Wyandotte — 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 88/100 on livability (#11 in MI, #181 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-.
• Wyandotte School District (suburban): math 27% / reading 45% proficiency, ranked #262 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.9%/yr); 117 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 7.9% rent growth), your $54k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,185 (0.9% below list)

Questions for the listing agent

1. Built in 1919 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.26%
• DSCR: 1.23
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $334,080
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2116 Biddle Ave	0.61mi	6/2.5	2,392 (+4%)	4mo	$364,900	$153	60
1235 Chestnut St	0.50mi	5/2.0 (-1)	2,207 (-4%)	6mo	$320,000	$145	59
1353 Ford Ave	0.51mi	5/2.0 (-1)	2,131 (-8%)	2mo	$300,000	$141	57
765 Eureka Rd	0.71mi	5/2.0 (-1)	2,022 (-12%)	14mo	$162,000	$80	30

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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.88×
• Total profit: $-6,363
• Equity at exit: $28,628

10-year hold

• IRR: 11.3%
• Equity multiple: 2.08×
• Total profit: $58,016
• Equity at exit: $16,601

Cash invested: $53,760 (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 48192

• Rents YoY: 7.9%
• Active inventory: 117
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,902 medium
• Mortgage (P&I): −$1,007
• Tax from tax record: −$180 /mo · $2,161/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $236

Break-even live

Break-even rent $1,604

Max offer price $192,000

Occupancy floor 83%

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-02-17
   status Pending 390-char remark

   Show marketing remark (390 chars)

   Two family income with both units having 3 bedrooms and full bathroom. Enclosed front porch. Lower unit has 3 bedrooms, full bathroom, dining room, living room and kitchen. upper unit has 3 bedrooms, full bathroom, dining room, kitchen and living room. Sperate electrical service. Full basement with 2 storage rooms. Upper unit has been freshly painted, some newer drywall and newer lights.

2. 2026-02-17
   status Pending

   Show marketing remark (390 chars)

   Two family income with both units having 3 bedrooms and full bathroom. Enclosed front porch. Lower unit has 3 bedrooms, full bathroom, dining room, living room and kitchen. upper unit has 3 bedrooms, full bathroom, dining room, kitchen and living room. Sperate electrical service. Full basement with 2 storage rooms. Upper unit has been freshly painted, some newer drywall and newer lights.

3. 2026-02-13
   listed $192,000 Active 390-char remark

   Show marketing remark (390 chars)

   Two family income with both units having 3 bedrooms and full bathroom. Enclosed front porch. Lower unit has 3 bedrooms, full bathroom, dining room, living room and kitchen. upper unit has 3 bedrooms, full bathroom, dining room, kitchen and living room. Sperate electrical service. Full basement with 2 storage rooms. Upper unit has been freshly painted, some newer drywall and newer lights.

4. 2026-02-13
   listed $192,000 Active

   Show marketing remark (390 chars)

   Two family income with both units having 3 bedrooms and full bathroom. Enclosed front porch. Lower unit has 3 bedrooms, full bathroom, dining room, living room and kitchen. upper unit has 3 bedrooms, full bathroom, dining room, kitchen and living room. Sperate electrical service. Full basement with 2 storage rooms. Upper unit has been freshly painted, some newer drywall and newer lights.

ⓘ 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: $2,161 · $180/mo
• Projected year-2 tax: $2,559 · $213/mo
• Expected delta: +$398/yr (+$33/mo · 18.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,822
• − Mortgage interest: −$10,755
• − Property taxes: −$2,161
• − Insurance: −$960
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$5,585
• Taxable loss: −$290
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $2,896/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: Wyandotte School District
• NCES district ID: 2636540
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $50,265
• Composite: 31.13/100
• National rank: #6060
• State rank: #262 of 540 in MI

Livability — Wyandotte

• Score: 88/100
• State rank: #11
• US rank: #181

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime B+ Employment C- Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyandotte, MI
• County: Wayne County · 1,562,939 people
• City population: 24,489
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,489
• Household income: $71,987
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 570.0

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 White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 19% Lithuanian 4% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 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: ▼ -228.97%
• Current HPI: 174.8428
• Rent YoY: ▲ 7.86%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-02-17 Pending — MiRealSource-MiMLS
• 2026-02-17 Pending — REALCOMP
• 2026-02-13 Listed $192,000 REALCOMP
• 2026-02-13 Listed $192,000 MiRealSource-MiMLS

Property tax history

+0.3%/yr

Latest (2025): $2,161 · -17.9% YoY. Source: county tax records.