22285 Wyman St · Detroit, MI 48219

$74,900

2 bd · 1.0 ba · 537 sqft · SingleFamily public records · 20 Days on market

Built 1922 6,970 sqft lot

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated 2 bedroom ranch, perfect for first-time buyers or those looking to downsize! This charming home offers a warm and inviting layout with comfortable, plush carpet and stylish recessed lighting throughout. The modern kitchen features updated finishes that blend both function and design, while the refreshed bathroom adds a clean, contemporary touch. Step outside to enjoy a spacious yard, ideal for relaxing, entertaining and a convenient 2-car garage. A true move in ready gem with all the right updates!

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1922

Property features AI

Finance

• Other: Lot approximately 0.16 acres (50 x 135)
• Financial info: Property tax information not included
• HOA & community: HOA information not provided

Exterior

• Parking: Detached 2-car garage
• Security: Security details not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Wood siding construction
• Construction: Asphalt roof; Built with wood siding
• Exterior features: Front porch; Paved road access

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; Total of 4 rooms
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $75k).
• Recommended offer: $74k (1.5% 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 rising fast (+8.0%/yr); 305 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $6k; list at $75k implies a 1052% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — 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. 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.
6. 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.
7. 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: 1.27% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.97%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.40×
• Total profit: $8,457
• Equity at exit: $11,168

10-year hold

• IRR: 22.6%
• Equity multiple: 3.40×
• Total profit: $50,353
• Equity at exit: $6,476

Cash invested: $20,972 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 305
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $953 high
• Mortgage (P&I): −$393
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $244

Break-even live

Break-even rent $644

Max offer price $74,900

Occupancy floor 69%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16885 Lahser Rd Unit 1A Detroit, MI	1.0	1.0	650	$750	$1.15	5d	1	0.16mi
16885 Lahser Rd Apt 3A Detroit, MI	1.0	1.0	700	$750	$1.07	44d	1	0.17mi
16854 Lahser Rd Detroit, MI	1.0	1.0	680	$885	$1.30	12d	1	0.20mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	0.27mi
17644 Lahser Rd Unit 7 Detroit, MI	1.0	1.0	600	$995	$1.66	24d	1	0.47mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	17d	1	0.48mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	44d	1	0.49mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	24d	2	0.49mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	44d	2	0.49mi
18045 Lahser Rd Detroit, MI	1.0	1.0	670	$960	$1.43	5d	2	0.51mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	24d	1	0.62mi
18350 Lahser Rd Detroit, MI	1.0	1.0	600	$950	$1.58	44d	1	0.67mi
18400 Lahser Rd Detroit, MI	1.0	1.0	620	$950	$1.53	24d	1	0.70mi
18450 Lahser Rd Apt 1 Detroit, MI	1.0	1.0	650	$820	$1.26	5d	1	0.73mi
24244 Dale St Unit 211 Detroit, MI	1.0	1.0	550	$800	$1.45	24d	1	0.80mi
24235 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	44d	4	0.93mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	44d	1	0.99mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	15d	1	0.99mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	17d	1	1.12mi
24651 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	44d	4	1.21mi
19255 Shiawassee Dr Apt 105 Detroit, MI	1.0	1.0	680	$950	$1.40	5d	1	1.36mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	44d	3	1.39mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	44d	2	1.40mi
19254 Telegraph Rd Unit M5 Detroit, MI	1.0	1.0	700	$820	$1.17	15d	1	1.42mi
19260 Telegraph Rd Unit J2 Detroit, MI	1.0	1.0	700	$820	$1.17	44d	1	1.42mi
19264 Telegraph Rd Unit G2 Detroit, MI	1.0	1.0	700	$820	$1.17	44d	1	1.45mi

Listing history 9 events

1. 2026-06-18
   days on market $74,900 Active 20 DOM
2. 2026-06-17
   statusdays on market $74,900 Active 19 DOM
3. 2026-05-01
   status Pending 544-char remark

   Show marketing remark (544 chars)

   Welcome home to this beautifully updated 2 bedroom ranch, perfect for first-time buyers or those looking to downsize! This charming home offers a warm and inviting layout with comfortable, plush carpet and stylish recessed lighting throughout. The modern kitchen features updated finishes that blend both function and design, while the refreshed bathroom adds a clean, contemporary touch. Step outside to enjoy a spacious yard, ideal for relaxing, entertaining and a convenient 2-car garage. A true move in ready gem with all the right updates!

4. 2026-05-01
   status Pending

   Show marketing remark (544 chars)

   Welcome home to this beautifully updated 2 bedroom ranch, perfect for first-time buyers or those looking to downsize! This charming home offers a warm and inviting layout with comfortable, plush carpet and stylish recessed lighting throughout. The modern kitchen features updated finishes that blend both function and design, while the refreshed bathroom adds a clean, contemporary touch. Step outside to enjoy a spacious yard, ideal for relaxing, entertaining and a convenient 2-car garage. A true move in ready gem with all the right updates!

5. 2026-04-13
   listed $74,900 Active

   Show marketing remark (544 chars)

   Welcome home to this beautifully updated 2 bedroom ranch, perfect for first-time buyers or those looking to downsize! This charming home offers a warm and inviting layout with comfortable, plush carpet and stylish recessed lighting throughout. The modern kitchen features updated finishes that blend both function and design, while the refreshed bathroom adds a clean, contemporary touch. Step outside to enjoy a spacious yard, ideal for relaxing, entertaining and a convenient 2-car garage. A true move in ready gem with all the right updates!

6. 2026-04-13
   listed $74,900 Active 544-char remark

   Show marketing remark (544 chars)

   Welcome home to this beautifully updated 2 bedroom ranch, perfect for first-time buyers or those looking to downsize! This charming home offers a warm and inviting layout with comfortable, plush carpet and stylish recessed lighting throughout. The modern kitchen features updated finishes that blend both function and design, while the refreshed bathroom adds a clean, contemporary touch. Step outside to enjoy a spacious yard, ideal for relaxing, entertaining and a convenient 2-car garage. A true move in ready gem with all the right updates!

7. 2010-11-18
   historical
8. 2010-05-18
   listed $4,500
9. 1996-06-07
   soldstatus $6,500

ⓘ 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: $1,022 · $85/mo
• Projected year-2 tax: $1,088 · $91/mo
• Expected delta: +$66/yr (+$5/mo · 6.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,442
• − Mortgage interest: −$4,196
• − Property taxes: −$1,022
• − Insurance: −$374
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$2,179
• Taxable income: $1,840
• Est. tax owed @ 24.0%: −$442
• After-tax cash flow: $2,487/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

+1052.3% since first listed

7 events — show timeline

• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-05-01 Pending — REALCOMP
• 2026-04-13 Listed $74,900 REALCOMP
• 2026-04-13 Listed $74,900 MiRealSource-MiMLS
• 2010-11-18 Listing Removed — REALCOMP
• 2010-05-18 Listed $4,500 REALCOMP
• 1996-06-07 Sold (Public Records) $6,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,022 · -53.7% YoY. Source: county tax records.