8468 Minock St · Detroit, MI 48228

$68,000

2 bd · 1.0 ba · 739 sqft · SingleFamily public records · 81 Days on market

Built 1945 5,227 sqft lot $92/sqft · 45% above area Est $47k · 45% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

Key facts

• 5,227 sq ft lot
• Built 1945
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $64k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• This rent runs 42% of the median local income ($31k/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 $470 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 + 0.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 9 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 $50k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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: 1.59% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.29%
• DSCR: 2.04
• GRM: 5.2

CMA / ARV

• ARV (median comp): $46,775
• List price: $68,000
• Delta: 45.38%
• 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
8062 Grandville Ave	0.28mi	2/1.0	732 (-1%)	6mo	$60,000	$82	80
8411 Fielding St	0.47mi	2/1.0	693 (-6%)	1mo	$47,000	$68	67
8645 Fielding St	0.47mi	2/1.0	693 (-6%)	2mo	$39,000	$56	66
7282 Plainview Ave	0.74mi	2/1.0	730 (-1%)	1mo	$19,000	$26	63
7313 Grandville Ave	0.71mi	2/1.0	765 (+4%)	0mo	$70,000	$92	61
8863 Vaughan St	0.37mi	3/1.0 (+1)	800 (+8%)	4mo	$58,500	$73	61
7320 Westwood St	0.70mi	3/1.0 (+1)	738 (-0%)	2mo	$115,000	$156	60
9244 Heyden	0.58mi	2/1.0	801 (+8%)	0mo	$35,000	$44	59
7730 Braile St	0.70mi	3/1.0 (+1)	768 (+4%)	2mo	$68,000	$89	54
8848 Heyden St	0.39mi	3/1.0 (+1)	813 (+10%)	7mo	$65,000	$80	54
9109 Stahelin Ave	0.54mi	2/1.0	836 (+13%)	3mo	$25,000	$30	51
7275 Auburn St	0.74mi	3/1.0 (+1)	803 (+9%)	5mo	$60,000	$75	42

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: 12.8%
• Equity multiple: 1.49×
• Total profit: $9,370
• Equity at exit: $10,139

10-year hold

• IRR: 19.2%
• Equity multiple: 2.38×
• Total profit: $26,299
• Equity at exit: $5,879

Cash invested: $19,040 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$357
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $370

Break-even live

Break-even rent $616

Max offer price $68,000

Occupancy floor 61%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.19mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	0.56mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	44d	1	0.62mi
20237 W Chicago Detroit, MI	1.0	1.0	650	$850	$1.31	44d	1	0.75mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	0.89mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	17d	1	1.09mi

Listing history 32 events

1. 2026-06-18
   days on market $68,000 Active 81 DOM
2. 2026-06-17
   days on market $68,000 Active 80 DOM
3. 2026-06-15
   days on market $68,000 Active 78 DOM
4. 2026-06-13
   days on market $68,000 Active 76 DOM
5. 2026-06-13
   days on market $68,000 Active 75 DOM
6. 2026-06-09
   days on market $68,000 Active 72 DOM
7. 2026-06-08
   days on market $68,000 Active 71 DOM
8. 2026-06-07
   days on market $68,000 Active 70 DOM
9. 2026-06-04
   days on market $68,000 Active 67 DOM
10. 2026-06-03
    days on market $68,000 Active 66 DOM
11. 2026-06-02
    days on market $68,000 Active 65 DOM
12. 2026-06-01
    days on market $68,000 Active 64 DOM
13. 2026-05-31
    days on market $68,000 Active 63 DOM
14. 2026-05-13
    status Active 159-char remark

    Show marketing remark (159 chars)

    This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

15. 2026-05-12
    historical 159-char remark

    Show marketing remark (159 chars)

    This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

16. 2026-04-25
    status Active 159-char remark

    Show marketing remark (159 chars)

    This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

17. 2026-04-24
    historical 159-char remark

    Show marketing remark (159 chars)

    This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

18. 2026-03-28
    listed $68,000 Active 159-char remark

    Show marketing remark (159 chars)

    This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

19. 2026-03-28
    listed $68,000 Active 159-char remark

    Show marketing remark (159 chars)

    This house is the perfect starter home or the ideal property to add to your rentals portfolio. Do not miss this great opportunity. Schedule your showing today.

20. 2026-02-11
    historical
21. 2026-02-11
    historical
22. 2025-12-02
    listed $86,500 Active
23. 2025-12-02
    listed $86,500 Active
24. 2025-09-25
    historical
25. 2025-09-25
    historical
26. 2025-05-07
    price $88,500
27. 2025-05-06
    price $88,500
28. 2025-04-24
    listed $70,000 Active
29. 2025-04-24
    listed $70,000 Active
30. 2019-05-06
    soldstatus $50,000
31. 2010-04-30
    soldstatus $5,000
32. 2010-03-30
    listed $4,275

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $1,225 · $102/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 ≥99°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: $13,011
• − Mortgage interest: −$3,809
• − Property taxes: −$1,225
• − Insurance: −$340
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$1,978
• Taxable income: $3,578
• Est. tax owed @ 24.0%: −$859
• After-tax cash flow: $3,577/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

+1490.6% since first listed

19 events — show timeline

• 2026-05-13 Relisted — REALCOMP
• 2026-05-12 Listing Removed — REALCOMP
• 2026-04-25 Relisted — REALCOMP
• 2026-04-24 Listing Removed — REALCOMP
• 2026-03-28 Listed $68,000 REALCOMP
• 2026-03-28 Listed $68,000 MiRealSource-MiMLS
• 2026-02-11 Listing Removed — MiRealSource-MiMLS
• 2026-02-11 Listing Removed — REALCOMP
• 2025-12-02 Listed $86,500 MiRealSource-MiMLS
• 2025-12-02 Listed $86,500 REALCOMP
• 2025-09-25 Listing Removed — REALCOMP
• 2025-09-25 Listing Removed — MiRealSource-MiMLS
• 2025-05-07 Price Changed $88,500 MiRealSource-MiMLS
• 2025-05-06 Price Changed $88,500 REALCOMP
• 2025-04-24 Listed $70,000 REALCOMP
• 2025-04-24 Listed $70,000 MiRealSource-MiMLS
• 2019-05-06 Sold (Public Records) $50,000 Public Records
• 2010-04-30 Sold (MLS) $5,000 REALCOMP
• 2010-03-30 Listed $4,275 REALCOMP

Property tax history

+0.4%/yr

Latest (2025): $1,225 · -8.9% YoY. Source: county tax records.