6476 Brace St · Detroit, MI 48228

$97,000

3 bd · 1.0 ba · 866 sqft · SingleFamily public records · 105 Days on market

Built 1948 4,792 sqft lot $112/sqft · 23% above area Est $79k · 23% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in Detroit!3-bedroom, 1-bath home with basement. Property is currently tenant-occupied generating $1,050/month in rental income, offering immediate cash flow for investors. Tenant occupied - please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

Key facts

• 4,792 sq ft lot
• Built 1948
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $88k (9.0% below list) — sets the bar for market timing.

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 soft (-2.3%/yr); 363 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,369/mo this rent would consume 54% of the median local household income ($31k/yr) (locally 4144% 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 $671 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 + 0.0% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,270 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 1.41% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• GRM: 5.9

CMA / ARV

• ARV (median comp): $78,605
• List price: $97,000
• Delta: 23.40%
• 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
6506 Stahelin Ave	0.07mi	3/1.0	960 (+11%)	2mo	$70,000	$73	77
6760 Warwick St	0.24mi	3/1.0	960 (+11%)	2mo	$70,000	$73	69
6324 Rosemont Ave	0.29mi	3/1.0	960 (+11%)	1mo	$85,000	$89	68
6356 Rutland St	0.57mi	3/1.0	842 (-3%)	2mo	$90,000	$107	67
6394 Westwood St	0.38mi	3/1.0	770 (-11%)	2mo	$90,000	$117	62
6719 Westwood St	0.41mi	3/1.0	960 (+11%)	1mo	$62,500	$65	62
6789 Grandmont Ave	0.74mi	2/1.0 (-1)	911 (+5%)	1mo	$80,000	$88	51
7667 Greenview Ave	0.65mi	3/1.0	960 (+11%)	2mo	$65,100	$68	50
7313 Grandville Ave	0.56mi	2/1.0 (-1)	765 (-12%)	0mo	$70,000	$92	49
7296 Auburn St	0.66mi	3/1.0	968 (+12%)	2mo	$38,000	$39	48
7320 Westwood St	0.59mi	3/1.0	738 (-15%)	2mo	$115,000	$156	46
6884 Memorial Ave	0.69mi	2/1.5 (-1)	786 (-9%)	1mo	$70,000	$89	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.19×
• Total profit: $5,142
• Equity at exit: $14,463

10-year hold

• IRR: 11.5%
• Equity multiple: 1.78×
• Total profit: $21,092
• Equity at exit: $8,387

Cash invested: $27,160 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,369 high
• Mortgage (P&I): −$509
• Tax from tax record: −$143 /mo · $1,711/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $390

Break-even live

Break-even rent $876

Max offer price $97,000

Occupancy floor 67%

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	17d	1	0.05mi
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	3d	10	0.54mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	0.62mi
5965 Evergreen Rd Dearborn Heights, MI	1.0–2.0	1.0	825	$1,350	$1.64	5d	1	0.78mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	0.88mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,430	$2.09	2d	12	0.88mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	0.97mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.01mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	1.02mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	1.13mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	1.15mi
7419 Rutherford St Detroit, MI	2.0	1.0	981	$1,150	$1.17	15d	1	1.20mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	1.23mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.32mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.38mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	2d	1	1.46mi

Listing history 23 events

1. 2026-06-18
   days on market $97,000 Active 105 DOM
2. 2026-06-17
   days on market $97,000 Active 104 DOM
3. 2026-06-15
   days on market $97,000 Active 102 DOM
4. 2026-06-13
   days on market $97,000 Active 100 DOM
5. 2026-06-13
   days on market $97,000 Active 99 DOM
6. 2026-06-09
   days on market $97,000 Active 96 DOM
7. 2026-06-08
   days on market $97,000 Active 95 DOM
8. 2026-06-07
   days on market $97,000 Active 94 DOM
9. 2026-06-04
   days on market $97,000 Active 91 DOM
10. 2026-06-03
    days on market $97,000 Active 90 DOM
11. 2026-06-01
    days on market $97,000 Active 88 DOM
12. 2026-05-31
    days on market $97,000 Active 87 DOM
13. 2026-03-05
    listed $97,000 Active 319-char remark

    Show marketing remark (319 chars)

    Great investment opportunity in Detroit!3-bedroom, 1-bath home with basement. Property is currently tenant-occupied generating $1,050/month in rental income, offering immediate cash flow for investors. Tenant occupied - please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

14. 2026-03-05
    listed $97,000 Active 319-char remark

    Show marketing remark (319 chars)

    Great investment opportunity in Detroit!3-bedroom, 1-bath home with basement. Property is currently tenant-occupied generating $1,050/month in rental income, offering immediate cash flow for investors. Tenant occupied - please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

15. 2026-03-05
    listed $97,000 Active

    Show marketing remark (319 chars)

    Great investment opportunity in Detroit!3-bedroom, 1-bath home with basement. Property is currently tenant-occupied generating $1,050/month in rental income, offering immediate cash flow for investors. Tenant occupied - please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

16. 2022-03-17
    soldstatus $95,000
17. 2022-03-08
    soldstatus $240,000
18. 2010-09-22
    soldstatus $9,125
19. 2010-08-20
    listed $8,000
20. 1999-05-28
    soldstatus $55,000
21. 1998-10-14
    listed $58,500
22. 1998-10-12
    historical
23. 1998-07-11
    listed $58,500

ⓘ 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: $1,711 · $143/mo
• Projected year-2 tax: $1,711 · $143/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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,430
• − Mortgage interest: −$5,434
• − Property taxes: −$1,711
• − Insurance: −$485
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$2,822
• Taxable income: $3,350
• Est. tax owed @ 24.0%: −$804
• After-tax cash flow: $3,876/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+65.8% since first listed

11 events — show timeline

• 2026-03-05 Listed $97,000 SW Michigan MLS
• 2026-03-05 Listed $97,000 MiRealSource-MiMLS
• 2026-03-05 Listed $97,000 REALCOMP
• 2022-03-17 Sold (Public Records) $95,000 Public Records
• 2022-03-08 Sold (Public Records) $240,000 Public Records
• 2010-09-22 Sold (MLS) $9,125 REALCOMP
• 2010-08-20 Listed $8,000 REALCOMP
• 1999-05-28 Sold (MLS) $55,000 REALCOMP
• 1998-10-14 Listed $58,500 REALCOMP
• 1998-10-12 Listing Removed — REALCOMP
• 1998-07-11 Listed $58,500 REALCOMP

Property tax history

+5.7%/yr

Latest (2025): $1,711 · -9.7% YoY. Source: county tax records.