9495 Lakepointe St · Detroit, MI 48224

$89,999

3 bd · 1.0 ba · 1,495 sqft · SingleFamily public records · 121 Days on market

Built 1936 4,356 sqft lot $60/sqft · 42% above area Est $106k · 15% under ↓ 16% 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 +14.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brick bungalow on Detroit's Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab - perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

Key facts

• Brick bungalow
• Fenced backyard
• Prime location

Tags

• BRICK BUNGALOW
• HARDWOOD FLOORS
• FENCED BACKYARD
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 37% of the median local income ($45k/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 $622 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 + 0.7% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $18k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — 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: 1.54% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.02%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $106,143
• List price: $89,999
• Delta: -15.21%
• 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
9722 Wayburn St	0.07mi	3/1.0	1,464 (-2%)	2mo	$84,900	$58	92
9973 E Outer Dr	0.32mi	3/2.5	1,506 (+1%)	2mo	$83,500	$55	76
10346 Lakepointe St	0.24mi	3/2.0	1,682 (+12%)	2mo	$77,500	$46	62
5566 Somerset Ave	0.61mi	3/2.5	1,521 (+2%)	3mo	$87,000	$57	61
9817 Somerset Ave	0.32mi	3/1.0	1,290 (-14%)	2mo	$30,000	$23	60
11336 Courville St	0.68mi	3/1.0	1,425 (-5%)	0mo	$62,500	$44	60
10185 Beaconsfield St	0.35mi	3/1.0	1,300 (-13%)	2mo	$73,000	$56	60
5574 Buckingham Ave	0.70mi	3/1.0	1,430 (-4%)	2mo	$105,000	$73	58
11323 Lansdowne St	0.71mi	3/1.5	1,397 (-7%)	2mo	$133,282	$95	52
5743 Buckingham Ave	0.61mi	3/1.5	1,328 (-11%)	2mo	$160,000	$120	49
5791 Bedford St	0.70mi	3/1.5	1,344 (-10%)	1mo	$178,000	$132	48
10947 Roxbury St	0.74mi	3/1.0	1,696 (+13%)	2mo	$127,675	$75	41

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.52×
• Total profit: $13,128
• Equity at exit: $13,419

10-year hold

• IRR: 20.5%
• Equity multiple: 2.55×
• Total profit: $39,019
• Equity at exit: $7,781

Cash invested: $25,200 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,383 high
• Mortgage (P&I): −$472
• Tax from tax record: −$99 /mo · $1,193/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $483

Break-even live

Break-even rent $771

Max offer price $89,999

Occupancy floor 60%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.09mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	0.11mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.13mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	0.20mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.21mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	0.28mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	0.33mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.35mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	0.36mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.42mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.45mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	0.46mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	0.47mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.48mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.51mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.68mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	0.68mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.69mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.71mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.72mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	0.76mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.78mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.80mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.84mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	0.84mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.93mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.94mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.96mi
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	0.96mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	0.96mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	43d	1	0.98mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.98mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	1d	1	1.03mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	43d	1	1.05mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.05mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	1.06mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.08mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.12mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	1.12mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	17d	1	1.13mi

Listing history 10 events

1. 2026-05-20
   status Pending 283-char remark

   Show marketing remark (293 chars)

   Brick bungalow on Detroit’s Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab—perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

2. 2026-05-20
   status Pending 293-char remark

   Show marketing remark (293 chars)

   Brick bungalow on Detroit’s Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab—perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

3. 2026-03-16
   status Active 283-char remark

   Show marketing remark (293 chars)

   Brick bungalow on Detroit’s Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab—perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

4. 2026-03-16
   status Active 293-char remark

   Show marketing remark (293 chars)

   Brick bungalow on Detroit’s Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab—perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

5. 2026-03-02
   status Pending 293-char remark

   Show marketing remark (283 chars)

   Brick bungalow on Detroit's Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab - perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

6. 2026-03-02
   status Pending 283-char remark

   Show marketing remark (283 chars)

   Brick bungalow on Detroit's Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab - perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

7. 2026-01-31
   price $89,999 283-char remark

   Show marketing remark (283 chars)

   Brick bungalow on Detroit's Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab - perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

8. 2026-01-30
   price $89,999 293-char remark

   Show marketing remark (293 chars)

   Brick bungalow on Detroit’s Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab—perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

9. 2026-01-05
   listed $107,500 Active 293-char remark

   Show marketing remark (283 chars)

   Brick bungalow on Detroit's Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab - perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

10. 2026-01-05
    listed $107,500 Active 283-char remark

    Show marketing remark (283 chars)

    Brick bungalow on Detroit's Eastside near downtown! Close to major freeway, this home offers hardwood floors, a garage, and a fenced backyard. In need of rehab - perfect opportunity for investors or buyers ready to add value in a prime location. BATVAI - Schedule your showing today.

ⓘ 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: $1,193 · $99/mo
• Projected year-2 tax: $1,290 · $107/mo
• Expected delta: +$96/yr (+$8/mo · 8.1%)

ⓘ 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 ≥95°F today · 15 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: $16,592
• − Mortgage interest: −$5,041
• − Property taxes: −$1,193
• − Insurance: −$450
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$2,618
• Taxable income: $4,634
• Est. tax owed @ 24.0%: −$1,112
• After-tax cash flow: $4,688/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-16.3% since first listed

10 events — show timeline

• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-20 Pending — REALCOMP
• 2026-03-16 Relisted — MiRealSource-MiMLS
• 2026-03-16 Relisted — REALCOMP
• 2026-03-02 Pending — REALCOMP
• 2026-03-02 Pending — MiRealSource-MiMLS
• 2026-01-31 Price Changed $89,999 MiRealSource-MiMLS
• 2026-01-30 Price Changed $89,999 REALCOMP
• 2026-01-05 Listed $107,500 REALCOMP
• 2026-01-05 Listed $107,500 MiRealSource-MiMLS

Property tax history

-3.8%/yr

Latest (2025): $1,193 · -37.1% YoY. Source: county tax records.