9929 Quincy St · Detroit, MI 48204

$19,900

2 bd · 1.0 ba · 990 sqft · SingleFamily public records · 265 Days on market

Built 1922 3,049 sqft lot $20/sqft · 37% below area Est $32k · 37% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 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

Listing remarks MLS

Vacant property ready for your vision! Great opportunity for investors or homeowners looking to add value. Don't miss out on this Detroit investment.

Key facts

• 3,049 sq ft lot
• Built 1922
• Listed 265 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.3% 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: 244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 37% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($138 loan paydown + $2k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 265 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $9k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 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 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.31% ✓
• Cap rate: 46.27%
• Cash-on-cash: 142.77%
• DSCR: 7.35
• GRM: 1.6

CMA / ARV

• ARV (median comp): $31,818
• List price: $19,900
• Delta: -37.46%
• 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
11387 Broadstreet Ave	0.35mi	3/1.0 (+1)	1,004 (+1%)	9mo	$75,000	$75	69
9715 Yosemite St	0.44mi	2/1.0	1,000 (+1%)	11mo	$57,000	$57	68
11405 Yosemite St	0.50mi	3/1.0 (+1)	1,000 (+1%)	4mo	$60,000	$60	66
9901 Yellowstone St	0.38mi	3/1.0 (+1)	937 (-5%)	3mo	$78,000	$83	66
9304 Otsego St	0.30mi	2/1.0	875 (-12%)	5mo	$32,500	$37	62
4203 Monterey St	0.53mi	3/1.0 (+1)	1,000 (+1%)	10mo	$40,000	$40	61
9329 Petoskey Ave	0.28mi	3/1.0 (+1)	1,097 (+11%)	7mo	$16,000	$15	58
9376 Otsego St	0.24mi	3/1.0 (+1)	873 (-12%)	9mo	$39,500	$45	57
4900 Elmhurst St	0.59mi	3/1.0 (+1)	934 (-6%)	2mo	$45,000	$48	56
9744 Holmur St	0.13mi	3/1.0 (+1)	850 (-14%)	14mo	$80,000	$94	54
9311 Yellowstone St	0.48mi	2/1.0	859 (-13%)	7mo	$79,150	$92	49
11634 Nardin Dr	0.56mi	3/1.5 (+1)	1,074 (+8%)	11mo	$30,000	$28	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.53×
• Total profit: $53,099
• Equity at exit: $17,927

10-year hold

• IRR: —
• Equity multiple: 23.12×
• Total profit: $123,237
• Equity at exit: $38,661

Cash invested: $5,572 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,057 high
• Mortgage (P&I): −$104
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $663

Break-even live

Break-even rent $218

Max offer price $19,900

Occupancy floor 32%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	43d	1	0.25mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	43d	1	0.34mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	4d	1	0.34mi
3295 Rochester St Unit : 3 Detroit, MI	1.0	1.0	720	$850	$1.18	4d	1	0.34mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	12d	1	0.39mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	24d	1	0.40mi
3242 Clairmount St Detroit, MI	2.0	1.0	530	$1,300	$2.45	43d	1	0.58mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	0.60mi
2690 W Boston Blvd Detroit, MI	1.0	1.0	616	$989	$1.61	2d	8	0.64mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.65mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	43d	1	0.72mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	0.81mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.84mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.90mi
2630 Richton St Apt 105 Detroit, MI	1.0	1.0	700	$1,250	$1.79	43d	1	0.91mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	24d	1	0.96mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	21d	1	0.98mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	17d	1	0.98mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	43d	1	0.98mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	1.00mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	16d	1	1.02mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	1.03mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	2d	1	1.08mi
12728 Monica St Unit 2 Detroit, MI	1.0	1.0	620	$750	$1.21	43d	1	1.08mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	24d	1	1.09mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	1.15mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	43d	1	1.15mi
2023 Tuxedo St Detroit, MI	1.0	1.0	650	$895	$1.38	5d	1	1.18mi
2023 Tuxedo St Detroit, MI	1.0	1.0	650	$795	$1.22	43d	1	1.18mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	24d	1	1.18mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	16d	1	1.18mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	1.22mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	16d	1	1.25mi
2021 Blaine St Detroit, MI	1.0–2.0	1.0	684	$1,200	$1.75	43d	1	1.33mi
3266 Pasadena St Unit 3 Detroit, MI	1.0	1.0	696	$700	$1.01	43d	1	1.35mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	23d	1	1.40mi
2341 Ewald Cir Unit 3 Detroit, MI	1.0	1.0	600	$900	$1.50	43d	1	1.41mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.42mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	1.46mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	1.48mi

Listing history 24 events

1. 2026-06-18
   days on market $19,900 Active 265 DOM
2. 2026-06-17
   days on market $19,900 Active 264 DOM
3. 2026-06-15
   days on market $19,900 Active 262 DOM
4. 2026-06-13
   days on market $19,900 Active 260 DOM
5. 2026-06-13
   days on market $19,900 Active 259 DOM
6. 2026-06-09
   days on market $19,900 Active 256 DOM
7. 2026-06-08
   days on market $19,900 Active 255 DOM
8. 2026-06-07
   days on market $19,900 Active 254 DOM
9. 2026-06-04
   days on market $19,900 Active 251 DOM
10. 2026-06-03
    days on market $19,900 Active 250 DOM
11. 2026-06-01
    days on market $19,900 Active 248 DOM
12. 2026-05-31
    days on market $19,900 Active 247 DOM
13. 2026-03-17
    price $19,900 149-char remark

    Show marketing remark (155 chars)

    Vacant property ready for your vision! Great opportunity for investors or homeowners looking to add value. Don’t miss out on this Detroit investment.

14. 2026-03-17
    price $19,900 155-char remark

    Show marketing remark (155 chars)

    Vacant property ready for your vision! Great opportunity for investors or homeowners looking to add value. Don’t miss out on this Detroit investment.

15. 2025-09-26
    listed $29,000 Active 155-char remark

    Show marketing remark (149 chars)

    Vacant property ready for your vision! Great opportunity for investors or homeowners looking to add value. Don't miss out on this Detroit investment.

16. 2025-09-26
    listed $29,000 Active 149-char remark

    Show marketing remark (149 chars)

    Vacant property ready for your vision! Great opportunity for investors or homeowners looking to add value. Don't miss out on this Detroit investment.

17. 2022-06-01
    historical
18. 2022-05-31
    historical
19. 2022-02-16
    listed $29,000 Active
20. 2022-02-16
    listed $29,000 Active
21. 2021-05-28
    historical
22. 2021-05-27
    historical
23. 2021-02-27
    listed $19,000 Active
24. 2021-02-27
    listed $19,000 Active

ⓘ 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: $715 · $60/mo
• Projected year-2 tax: $715 · $60/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,686
• − Mortgage interest: −$1,115
• − Property taxes: −$715
• − Insurance: −$100
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$579
• Taxable income: $8,148
• Est. tax owed @ 24.0%: −$1,956
• After-tax cash flow: $6,000/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+4.7% since first listed

12 events — show timeline

• 2026-03-17 Price Changed $19,900 MiRealSource-MiMLS
• 2026-03-17 Price Changed $19,900 REALCOMP
• 2025-09-26 Listed $29,000 REALCOMP
• 2025-09-26 Listed $29,000 MiRealSource-MiMLS
• 2022-06-01 Listing Removed — REALCOMP
• 2022-05-31 Listing Removed — MiRealSource-MiMLS
• 2022-02-16 Listed $29,000 MiRealSource-MiMLS
• 2022-02-16 Listed $29,000 REALCOMP
• 2021-05-28 Listing Removed — REALCOMP
• 2021-05-27 Listing Removed — MiRealSource-MiMLS
• 2021-02-27 Listed $19,000 MiRealSource-MiMLS
• 2021-02-27 Listed $19,000 REALCOMP

Property tax history

-0.4%/yr

Latest (2025): $715 · -53.3% YoY. Source: county tax records.