6628 Burns St · Detroit, MI 48213

$25,000

3 bd · 1.0 ba · 1,072 sqft · SingleFamily public records · 4 Days on market

Built 1914 3,049 sqft lot Est $31k · 20% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Key facts

• 3,049 sq ft lot
• Built 1914
• Listed 4 days

Property features AI

Finance

• Other: Property type: Residential; Lot frontage approximately 22 feet; Acreage approximately 0.07

Exterior

• Utilities: Public water; Forced air heating (natural gas)
• Home design: Residential 2-story home; Built in 1914; Basement present
• Construction: Shingle siding construction; Basement foundation
• Exterior features: Shingle siding; Paved street

Interior

• Kitchen: Kitchen on entry level (approx. 11 x 12) with wood flooring; Dining room on entry level (approx. 12 x 12) with wood flooring; Living room on entry level (approx. 13 x 15) with wood flooring
• Bedrooms: Three bedrooms on the second floor (approx. 10 x 10; 10 x 12; ~12 wide) with wood flooring
• Flooring: Wood flooring in living, dining, kitchen and bedrooms; Laminate flooring in bathroom
• Bathrooms: One full bathroom on the second floor with laminate flooring (approx. 9 x 7)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: 7 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 47.5% 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: 190 active listings in the ZIP; 13 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).
• At $1,306/mo this rent would consume 46% of the median local household income ($34k/yr) (locally 1202% 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 $173 of loan paydown is wiped out by about $750 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,000

Questions for the listing agent

1. Built in 1914 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.23% ✓
• Cap rate: 47.54%
• Cash-on-cash: 147.31%
• DSCR: 7.55
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $31,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8221 Marion St	0.35mi	3/1.0	1,070 (-0%)	8mo	$42,080	$39	77
6659 Fischer St	0.04mi	3/1.0	1,200 (+12%)	6mo	$22,000	$18	74
6156 Iroquois St	0.29mi	2/1.0 (-1)	1,148 (+7%)	3mo	$50,000	$44	68
6130 Maxwell St	0.32mi	3/1.0	958 (-11%)	4mo	$40,000	$42	64
9354 Bessemore St	0.35mi	3/1.0	1,125 (+5%)	16mo	$23,000	$20	62
8293 Marion St	0.32mi	3/1.0	1,152 (+8%)	17mo	$36,000	$31	58
8953 Culver St	0.55mi	2/1.0 (-1)	1,046 (-2%)	9mo	$26,000	$25	58
8922 Armour St	0.64mi	4/1.0 (+1)	1,050 (-2%)	5mo	$25,000	$24	58
5336 Fischer St	0.75mi	3/1.0	1,096 (+2%)	13mo	$45,000	$41	51
5833 Mcclellan St	0.56mi	3/2.0	1,113 (+4%)	19mo	$32,000	$29	48
6215 Field St	0.66mi	3/1.0	1,229 (+15%)	3mo	$13,000	$11	42
8903 May St	0.40mi	2/1.0 (-1)	920 (-14%)	14mo	$8,000	$9	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.24×
• Total profit: $50,700
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 17.39×
• Total profit: $114,704
• Equity at exit: $2,162

Cash invested: $7,000 (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 48213

• Active inventory: 190
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,306 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $859

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 29%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	0.29mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	0.36mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.46mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	0.50mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	0.66mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.75mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.90mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	1.12mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	2d	1	1.13mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	2d	1	1.13mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	1.32mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	1.42mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.47mi

Listing history 6 events

1. 2026-06-18
   days on market $25,000 Active 4 DOM
2. 2026-06-17
   days on market $25,000 Active 3 DOM
3. 2026-06-16
   days on market $25,000 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $25,000 Active 1 DOM
5. 2026-06-15
   days on market $25,000 Active 2 DOM
6. 2026-06-13
   listed $25,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°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: $15,678
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$727
• Taxable income: $10,541
• Est. tax owed @ 24.0%: −$2,530
• After-tax cash flow: $7,782/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

+0.4% since first listed

7 events — show timeline

• 2026-06-13 Listed $25,000 MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — REALCOMP
• 2026-03-23 Price Changed $19,900 MiRealSource-MiMLS
• 2026-03-22 Price Changed $19,900 REALCOMP
• 2026-01-25 Listed $24,900 REALCOMP
• 2026-01-25 Listed $24,900 MiRealSource-MiMLS

Property tax history

+10.8%/yr

Latest (2025): $1,654 · -0.1% YoY. Source: county tax records.