8845 Canyon St · Detroit, MI 48236

$114,900

3 bd · 1.0 ba · 648 sqft · SingleFamily public records · 44 Days on market

Built 1941 4,356 sqft lot $177/sqft · 134% above area Est $102k · 13% over

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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 +17.6/30.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated 3-bedroom, 1.5-bath home located in Cornerstone Village with a highly sought-after Grosse Pointe zip code. Featuring refinished hardwood floors, newer windows throughout, renovated kitchen and bathrooms, and a partially finished basement, this home offers comfort, style, and functionality. Perfect for homeowners looking for a move-in-ready property or investors seeking strong rental potential.

Key facts

• 4,356 sq ft lot
• Built 1941
• Listed 43 days

Property features AI

Finance

• Other: Lot approximately 0.1 acre (35 x 120)
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No garage
• Security: No specific security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation; Asphalt/composition roof; Built area: two-level home with finished space above and below grade
• Exterior features: Covered porch; Porch; Back yard fenced; Paved road access

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Total of 6 rooms (includes bedrooms and living areas)
• Flooring: No flooring information provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); No central cooling
• Interior features: Gas water heater; Partially finished basement; Basement present
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (2.1% below list).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Marquette Elementarymiddle School (514 students, 94% FRL); East English Village Preparatory Academy At Finney (math 10% / reading 10%, grade F, #659 of 713 statewide, top 97%, 697 students, 85% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: 162 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $794 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 30y 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 $45k; list at $115k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.98% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (median comp): $101,675
• List price: $114,900
• Delta: 13.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6183 Woodhall St	0.45mi	3/1.0	720 (+11%)	1mo	$32,000	$44	60
5558 Radnor St	0.69mi	2/1.0 (-1)	660 (+2%)	6mo	$18,000	$27	55
9240 Camley St	0.30mi	2/1.0 (-1)	729 (+12%)	23mo	$110,000	$151	41
19724 Mccormick St	0.71mi	2/1.0 (-1)	696 (+7%)	19mo	$80,000	$115	34
5546 Neff Ave	0.74mi	2/1.0 (-1)	720 (+11%)	14mo	$74,900	$104	31

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-12,847
• Equity at exit: $17,132

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-3,700
• Equity at exit: $9,934

Cash invested: $32,172 (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 48236

• Active inventory: 162
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,125 high
• Mortgage (P&I): −$603
• Tax from tax record: −$148 /mo · $1,774/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $90

Break-even live

Break-even rent $1,010

Max offer price $114,900

Occupancy floor 87%

Sensitivity live

Price	-10% $155	-5% $123	+0% $90	+5% $58	+10% $25
Rent	-10% $1	-5% $46	+0% $90	+5% $135	+10% $179
Rate	-1.0pp $148	-0.5pp $120	base $90	+0.5pp $61	+1.0pp $30

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	14d	1	0.92mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	1.01mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	45d	1	1.23mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	45d	1	1.25mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	23d	1	1.27mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	45d	1	1.27mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	1.29mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	26d	1	1.47mi

Listing history 50 events

1. 2026-06-21
   days on market $114,900 Active 44 DOM
2. 2026-06-18
   days on market $114,900 Active 41 DOM
3. 2026-06-17
   days on market $114,900 Active 40 DOM
4. 2026-06-15
   days on market $114,900 Active 38 DOM
5. 2026-06-13
   days on market $114,900 Active 36 DOM
6. 2026-06-13
   days on market $114,900 Active 35 DOM
7. 2026-06-09
   days on market $114,900 Active 32 DOM
8. 2026-06-08
   days on market $114,900 Active 31 DOM
9. 2026-06-07
   days on market $114,900 Active 30 DOM
10. 2026-06-04
    days on market $114,900 Active 27 DOM
11. 2026-06-03
    days on market $114,900 Active 26 DOM
12. 2026-06-02
    days on market $114,900 Active 25 DOM
13. 2026-06-01
    days on market $114,900 Active 24 DOM
14. 2026-05-31
    days on market $114,900 Active 23 DOM
15. 2026-05-09
    listed $114,900 Active 416-char remark

    Show marketing remark (416 chars)

    Beautifully updated 3-bedroom, 1.5-bath home located in Cornerstone Village with a highly sought-after Grosse Pointe zip code. Featuring refinished hardwood floors, newer windows throughout, renovated kitchen and bathrooms, and a partially finished basement, this home offers comfort, style, and functionality. Perfect for homeowners looking for a move-in-ready property or investors seeking strong rental potential.

16. 2026-05-09
    listed $114,900 Active 416-char remark

    Show marketing remark (416 chars)

    Beautifully updated 3-bedroom, 1.5-bath home located in Cornerstone Village with a highly sought-after Grosse Pointe zip code. Featuring refinished hardwood floors, newer windows throughout, renovated kitchen and bathrooms, and a partially finished basement, this home offers comfort, style, and functionality. Perfect for homeowners looking for a move-in-ready property or investors seeking strong rental potential.

17. 2026-05-08
    historical $114,900 416-char remark

    Show marketing remark (416 chars)

    Beautifully updated 3-bedroom, 1.5-bath home located in Cornerstone Village with a highly sought-after Grosse Pointe zip code. Featuring refinished hardwood floors, newer windows throughout, renovated kitchen and bathrooms, and a partially finished basement, this home offers comfort, style, and functionality. Perfect for homeowners looking for a move-in-ready property or investors seeking strong rental potential.

18. 2025-12-24
    historical
19. 2025-12-23
    listed $45,000 Active
20. 2025-12-23
    soldstatus $45,000 Closed
21. 2025-12-23
    soldstatus $45,000
22. 2025-12-23
    soldstatus $45,000
23. 2025-12-23
    listed $45,000
24. 2025-12-23
    listed $45,000
25. 2019-03-21
    soldstatus $18,500 Sold
26. 2019-03-21
    soldstatus $18,500 Closed
27. 2019-03-07
    status Pending
28. 2019-03-06
    status Pending
29. 2019-02-08
    price $19,900
30. 2019-02-08
    price $19,900
31. 2019-01-08
    price $24,900
32. 2019-01-08
    price $24,900
33. 2018-12-18
    price $26,900
34. 2018-12-18
    price $26,900
35. 2018-11-20
    status Active
36. 2018-11-20
    status Active
37. 2018-11-08
    status Pending
38. 2018-11-08
    status Pending
39. 2018-11-01
    listed $27,900 Active
40. 2018-11-01
    listed $27,900 Active
41. 2015-11-02
    historical
42. 2015-11-02
    historical
43. 2015-09-25
    price $26,900
44. 2015-08-12
    price $29,900
45. 2015-06-23
    listed $35,900 Active
46. 2015-06-23
    listed $26,900
47. 2015-05-18
    historical
48. 2015-05-18
    historical
49. 2015-04-24
    listed $38,160 Active
50. 2015-04-24
    listed $38,160

ⓘ 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: $1,774 · $148/mo
• Projected year-2 tax: $1,774 · $148/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,497
• − Mortgage interest: −$6,436
• − Property taxes: −$1,774
• − Insurance: −$574
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$3,343
• Taxable loss: −$789
• Est. tax savings @ 24.0%: +$189
• After-tax cash flow: $1,273/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
• City population: 572,865
• Population (ZIP): 31,383

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 White (82%)
• Race & ethnicity: White 82% Black 11% Two or more races 5% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 10% Lithuanian 5% Italian 4%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Arabic 2% 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: ▼ -285.11%
• Current HPI: 181.0475
• Rent YoY: —
• Metro: —
• 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

+117.2% since first listed

44 events — show timeline

• 2026-05-09 Listed $114,900 MiRealSource-MiMLS
• 2026-05-09 Listed $114,900 REALCOMP
• 2026-05-08 Coming Soon $114,900 MiRealSource-MiMLS
• 2025-12-24 Listing Removed — REALCOMP
• 2025-12-23 Listed $45,000 REALCOMP
• 2025-12-23 Listed $45,000 MiRealSource-MiMLS
• 2025-12-23 Listed $45,000 REALCOMP
• 2025-12-23 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2025-12-23 Sold (MLS) $45,000 REALCOMP
• 2025-12-23 Sold (MLS) $45,000 REALCOMP
• 2019-03-21 Sold (MLS) $18,500 MiRealSource-MiMLS
• 2019-03-21 Sold (MLS) $18,500 REALCOMP
• 2019-03-07 Pending — MiRealSource-MiMLS
• 2019-03-06 Pending — REALCOMP
• 2019-02-08 Price Changed $19,900 MiRealSource-MiMLS
• 2019-02-08 Price Changed $19,900 REALCOMP
• 2019-01-08 Price Changed $24,900 MiRealSource-MiMLS
• 2019-01-08 Price Changed $24,900 REALCOMP
• 2018-12-18 Price Changed $26,900 MiRealSource-MiMLS
• 2018-12-18 Price Changed $26,900 REALCOMP
• 2018-11-20 Relisted — MiRealSource-MiMLS
• 2018-11-20 Relisted — REALCOMP
• 2018-11-08 Pending — MiRealSource-MiMLS
• 2018-11-08 Pending — REALCOMP
• 2018-11-01 Listed $27,900 MiRealSource-MiMLS
• 2018-11-01 Listed $27,900 REALCOMP
• 2015-11-02 Listing Removed — REALCOMP
• 2015-11-02 Listing Removed — MiRealSource-MiMLS
• 2015-09-25 Price Changed $26,900 REALCOMP
• 2015-08-12 Price Changed $29,900 REALCOMP
• 2015-06-23 Listed $35,900 REALCOMP
• 2015-06-23 Listed $26,900 MiRealSource-MiMLS
• 2015-05-18 Listing Removed — REALCOMP
• 2015-05-18 Listing Removed — MiRealSource-MiMLS
• 2015-04-24 Listed $38,160 REALCOMP
• 2015-04-24 Listed $38,160 MiRealSource-MiMLS
• 2002-06-20 Sold (Public Records) $80,000 Public Records
• 2002-05-24 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2002-03-05 Listing Removed — MiRealSource-MiMLS
• 2001-12-26 Listed $83,900 MiRealSource-MiMLS
• 1996-09-10 Sold (Public Records) $50,900 Public Records
• 1996-08-26 Sold (MLS) $50,900 MiRealSource-MiMLS
• 1996-08-05 Listing Removed — MiRealSource-MiMLS
• 1996-07-12 Listed $52,900 MiRealSource-MiMLS

Property tax history

+4.3%/yr

Latest (2025): $1,774 · -26.3% YoY. Source: county tax records.