8362 Cloverlawn St · Detroit, MI 48204

$114,900

3 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 110 Days on market

Built 1939 3,485 sqft lot $89/sqft · 49% above area Est $77k · 49% 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 +22.3/30.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +6.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome Home! This recently remodeled 3-bedroom, 1.5-bathroom home is move-in ready and waiting for its new family. Featuring a beautifully updated kitchen and bathrooms, fresh paint throughout, and brand-new flooring, this home has been completely transformed! Enjoy the space and potential of the unfinished full basement, perfect for additional storage or future finishing touches. Please note: there is no garage. This home is truly one-of-a-kind and ready for you to make it your own. All dimensions are approximate. Showings require a licensed agent. Don't miss this opportunity - schedule your showing today!

Key facts

• Brand-new flooring
• Updated kitchen
• Remodeled home

Tags

• REMODELED HOME
• UPDATED KITCHEN
• UNFINISHED FULL BASEMENT
• BRAND-NEW FLOORING

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 $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (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: 248 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 45% 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 $12k of equity ($794 loan paydown + $11k 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 $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 23y 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 $3k; list at $115k implies a 3435% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 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 1939 — 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: 1.12% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.08%
• DSCR: 1.31
• GRM: 7.4

CMA / ARV

• ARV (median comp): $77,142
• List price: $114,900
• Delta: 48.95%
• 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
8127 American St	0.38mi	4/1.0 (+1)	1,317 (+2%)	8mo	$29,000	$22	68
10327 Kramer St	0.63mi	3/1.5	1,273 (-2%)	1mo	$133,770	$105	66
8908 Birwood St	0.65mi	3/1.5	1,300 (+1%)	8mo	$71,000	$55	60
8801 Monica St	0.54mi	3/1.0	1,176 (-9%)	1mo	$120,000	$102	59
8607 Indiana St	0.28mi	3/1.5	1,457 (+13%)	9mo	$100,000	$69	56
7007 Joy Rd	0.59mi	4/1.0 (+1)	1,200 (-7%)	0mo	$85,000	$71	56
8999 Griggs St	0.66mi	3/2.0	1,196 (-7%)	0mo	$190,000	$159	53
8304 Pinehurst St	0.73mi	3/1.0	1,344 (+4%)	9mo	$123,500	$92	52
7722 Wykes St	0.65mi	3/1.0	1,148 (-11%)	4mo	$40,000	$35	48
8043 E Morrow Circle St E	0.62mi	3/2.0	1,398 (+8%)	8mo	$155,000	$111	47
5801 Oakman Blvd	0.70mi	4/1.5 (+1)	1,451 (+12%)	5mo	$160,000	$110	35
9414 American St	0.71mi	2/1.0 (-1)	1,476 (+14%)	8mo	$17,000	$12	31

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: 29.4%
• Equity multiple: 3.32×
• Total profit: $74,705
• Equity at exit: $103,511

10-year hold

• IRR: 25.6%
• Equity multiple: 7.55×
• Total profit: $210,574
• Equity at exit: $223,225

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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$603
• Tax from tax record: −$181 /mo · $2,168/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $190

Break-even live

Break-even rent $1,052

Max offer price $114,900

Occupancy floor 80%

Sensitivity live

Price	-10% $255	-5% $222	+0% $190	+5% $157	+10% $125
Rent	-10% $88	-5% $139	+0% $190	+5% $241	+10% $292
Rate	-1.0pp $248	-0.5pp $219	base $190	+0.5pp $160	+1.0pp $130

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 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	21d	1	0.08mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	17d	1	0.18mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.18mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	0d	1	0.28mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	0.29mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.75mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.81mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	0.85mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	25d	1	0.85mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	0.86mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	44d	1	0.94mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	44d	1	1.09mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	1.19mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	1.22mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	1.22mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	44d	1	1.24mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	24d	1	1.28mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	44d	1	1.38mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	1.39mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	44d	1	1.44mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	1.45mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	1.45mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	17d	1	1.45mi

Listing history 41 events

1. 2026-06-21
   days on market $114,900 Active 110 DOM
2. 2026-06-18
   days on market $114,900 Active 107 DOM
3. 2026-06-17
   days on market $114,900 Active 106 DOM
4. 2026-06-15
   days on market $114,900 Active 104 DOM
5. 2026-06-13
   days on market $114,900 Active 102 DOM
6. 2026-06-13
   days on market $114,900 Active 101 DOM
7. 2026-06-09
   days on market $114,900 Active 98 DOM
8. 2026-06-08
   days on market $114,900 Active 97 DOM
9. 2026-06-07
   days on market $114,900 Active 96 DOM
10. 2026-06-04
    days on market $114,900 Active 93 DOM
11. 2026-06-03
    days on market $114,900 Active 92 DOM
12. 2026-06-01
    days on market $114,900 Active 90 DOM
13. 2026-05-31
    days on market $114,900 Active 89 DOM
14. 2026-04-28
    price $114,900 615-char remark

    Show marketing remark (625 chars)

    Welcome Home! This recently remodeled 3-bedroom, 1.5-bathroom home is move-in ready and waiting for its new family. Featuring a beautifully updated kitchen and bathrooms, fresh paint throughout, and brand-new flooring, this home has been completely transformed! Enjoy the space and potential of the unfinished full basement, perfect for additional storage or future finishing touches. Please note: there is no garage. This home is truly one-of-a-kind and ready for you to make it your own. All dimensions are approximate. Showings require a licensed agent. Don’t miss this opportunity—schedule your showing today!

15. 2026-04-28
    price $114,900 625-char remark

    Show marketing remark (625 chars)

    Welcome Home! This recently remodeled 3-bedroom, 1.5-bathroom home is move-in ready and waiting for its new family. Featuring a beautifully updated kitchen and bathrooms, fresh paint throughout, and brand-new flooring, this home has been completely transformed! Enjoy the space and potential of the unfinished full basement, perfect for additional storage or future finishing touches. Please note: there is no garage. This home is truly one-of-a-kind and ready for you to make it your own. All dimensions are approximate. Showings require a licensed agent. Don’t miss this opportunity—schedule your showing today!

16. 2026-03-02
    listed $115,000 Active 615-char remark

    Show marketing remark (625 chars)

    Welcome Home! This recently remodeled 3-bedroom, 1.5-bathroom home is move-in ready and waiting for its new family. Featuring a beautifully updated kitchen and bathrooms, fresh paint throughout, and brand-new flooring, this home has been completely transformed! Enjoy the space and potential of the unfinished full basement, perfect for additional storage or future finishing touches. Please note: there is no garage. This home is truly one-of-a-kind and ready for you to make it your own. All dimensions are approximate. Showings require a licensed agent. Don’t miss this opportunity—schedule your showing today!

17. 2026-03-02
    listed $115,000 Active 625-char remark

    Show marketing remark (625 chars)

    Welcome Home! This recently remodeled 3-bedroom, 1.5-bathroom home is move-in ready and waiting for its new family. Featuring a beautifully updated kitchen and bathrooms, fresh paint throughout, and brand-new flooring, this home has been completely transformed! Enjoy the space and potential of the unfinished full basement, perfect for additional storage or future finishing touches. Please note: there is no garage. This home is truly one-of-a-kind and ready for you to make it your own. All dimensions are approximate. Showings require a licensed agent. Don’t miss this opportunity—schedule your showing today!

18. 2026-02-01
    historical
19. 2026-02-01
    historical
20. 2025-11-04
    listed $129,000 Active
21. 2025-11-03
    listed $129,000 Active
22. 2025-09-27
    historical
23. 2025-09-27
    historical
24. 2025-04-22
    status Active
25. 2025-04-22
    historical
26. 2025-03-24
    listed $135,000 Active
27. 2025-03-24
    listed $135,000 Active
28. 2025-03-01
    historical
29. 2025-03-01
    historical
30. 2025-02-10
    price $139,000
31. 2025-02-09
    price $139,000
32. 2024-12-29
    price $149,000
33. 2024-12-28
    price $149,000
34. 2024-12-16
    listed $150,000 Active
35. 2024-12-16
    listed $150,000 Active
36. 2008-08-27
    soldstatus $3,250
37. 2008-04-03
    listed $6,900
38. 2004-05-20
    soldstatus $58,000
39. 2003-09-18
    soldstatus $58,000
40. 2003-07-30
    historical
41. 2003-06-11
    listed $59,900

ⓘ 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: $2,168 · $181/mo
• Projected year-2 tax: $2,168 · $181/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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,507
• − Mortgage interest: −$6,436
• − Property taxes: −$2,168
• − Insurance: −$574
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$3,343
• Taxable income: $504
• Est. tax owed @ 24.0%: −$121
• After-tax cash flow: $2,156/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

+91.8% since first listed

28 events — show timeline

• 2026-04-28 Price Changed $114,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $114,900 REALCOMP
• 2026-03-02 Listed $115,000 REALCOMP
• 2026-03-02 Listed $115,000 MiRealSource-MiMLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2025-11-04 Listed $129,000 REALCOMP
• 2025-11-03 Listed $129,000 MiRealSource-MiMLS
• 2025-09-27 Listing Removed — REALCOMP
• 2025-09-27 Listing Removed — MiRealSource-MiMLS
• 2025-04-22 Relisted — REALCOMP
• 2025-04-22 Listing Removed — REALCOMP
• 2025-03-24 Listed $135,000 REALCOMP
• 2025-03-24 Listed $135,000 MiRealSource-MiMLS
• 2025-03-01 Listing Removed — MiRealSource-MiMLS
• 2025-03-01 Listing Removed — REALCOMP
• 2025-02-10 Price Changed $139,000 MiRealSource-MiMLS
• 2025-02-09 Price Changed $139,000 REALCOMP
• 2024-12-29 Price Changed $149,000 MiRealSource-MiMLS
• 2024-12-28 Price Changed $149,000 REALCOMP
• 2024-12-16 Listed $150,000 REALCOMP
• 2024-12-16 Listed $150,000 MiRealSource-MiMLS
• 2008-08-27 Sold (MLS) $3,250 REALCOMP
• 2008-04-03 Listed $6,900 REALCOMP
• 2004-05-20 Sold (Public Records) $58,000 Public Records
• 2003-09-18 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2003-07-30 Listing Removed — MiRealSource-MiMLS
• 2003-06-11 Listed $59,900 MiRealSource-MiMLS

Property tax history

+19.5%/yr

Latest (2025): $2,168 · +145.2% YoY. Source: county tax records.