8221 Dexter Ave · Detroit, MI 48206

$95,000

3 bd · 2.0 ba · 2,202 sqft · SingleFamily public records · 26 Days on market

Built 1919 4,792 sqft lot Est $128k · 26% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this large brick fixer-upper located just 10 minutes from Downtown Detroit and close to major freeways for an easy commute. Situated in Detroit’s revitalizing Dexter-Linwood area, this spacious home offers tons of potential for a first-time homeowner looking to build equity or an investor searching for their next rehab project. Features include a two-car garage, fireplace, newer roof, and electrical and plumbing work already started — giving buyers a head start on renovations. Conveniently located near shopping, dining, Midtown, and New Center with classic Detroit charm throughout the neighborhood.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1919

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Residential 2-story; Built in 1919
• Construction: Basement foundation; Below-grade area noted (960)
• Exterior features: Brick exterior; Paved street frontage; Frontage approximately 50 feet

Interior

• Bedrooms: Three bedrooms on the second floor (approx. 11 x 11; 13 x 15; ~13)
• Bathrooms: One full bathroom on the second floor (approx. 9 x 8)
• Heating & cooling: Radiant heating; Gas water heater; Natural gas fuel
• Interior features: Total of 4 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.2% 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: Rents rising fast (+5.2%/yr); 271 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,719/mo this rent would consume 46% of the median local household income ($45k/yr) (locally 646% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1919 — 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: 1.81% ✓
• Cap rate: 16.23%
• Cash-on-cash: 35.48%
• DSCR: 2.58
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $127,716
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3739 Montgomery Ave	0.10mi	4/2.5 (+1)	2,189 (-1%)	15mo	$128,000	$58	75
2665 Columbus St	0.48mi	3/2.0	2,228 (+1%)	3mo	$150,000	$67	73
3761 Taylor St	0.45mi	3/2.0	2,145 (-3%)	7mo	$65,409	$30	69
4033 Clairmount St	0.52mi	3/1.0	2,058 (-6%)	0mo	$150,000	$73	60
4032 Vicksburg St	0.15mi	4/2.0 (+1)	1,900 (-14%)	9mo	$248,500	$131	58
3254 Hogarth St	0.28mi	3/1.0	2,349 (+7%)	18mo	$65,000	$28	57
4676 Vancouver St	0.58mi	3/2.0	2,143 (-3%)	17mo	$90,000	$42	55
4443 Oregon St	0.40mi	4/3.0 (+1)	2,029 (-8%)	9mo	$65,000	$32	52
2530 W Philadelphia St	0.59mi	3/1.5	2,130 (-3%)	16mo	$110,000	$52	52
3774 Gladstone St	0.38mi	4/1.5 (+1)	1,957 (-11%)	10mo	$125,000	$64	49
8740 Arcadia St	0.54mi	3/3.0	1,900 (-14%)	5mo	$52,000	$27	44
5051 Allendale St	0.70mi	3/2.5	1,900 (-14%)	12mo	$138,000	$73	33

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 2.45×
• Total profit: $38,563
• Equity at exit: $14,165

10-year hold

• IRR: 41.5%
• Equity multiple: 5.31×
• Total profit: $114,674
• Equity at exit: $8,214

Cash invested: $26,600 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$498
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $787

Break-even live

Break-even rent $724

Max offer price $95,000

Occupancy floor 49%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	0.31mi
3012 Lothrop Detroit, MI	2.0	1.0	1800	$1,300	$0.72	3d	1	0.44mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	44d	1	0.59mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	44d	1	0.59mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	44d	1	0.59mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	2d	1	0.65mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.80mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	0.80mi
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	17d	1	0.83mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	24d	1	0.84mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,523	$1.07	5d	1	0.88mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	0.92mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	1.06mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	17d	1	1.14mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	1.16mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	1.17mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	44d	1	1.17mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.29mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.29mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	1.29mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.32mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	44d	1	1.34mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	44d	1	1.34mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $95,000 Active 26 DOM
2. 2026-06-17
   days on market $95,000 Active 25 DOM
3. 2026-06-15
   days on market $95,000 Active 23 DOM
4. 2026-06-13
   days on market $95,000 Active 21 DOM
5. 2026-06-13
   pricedays on market $95,000 Active 20 DOM
6. 2026-06-09
   days on market $105,000 Active 17 DOM
7. 2026-06-08
   days on market $105,000 Active 16 DOM
8. 2026-06-07
   days on market $105,000 Active 15 DOM
9. 2026-06-04
   days on market $105,000 Active 12 DOM
10. 2026-06-03
    pricedays on market $105,000 Active 11 DOM
11. 2026-06-02
    days on market $120,000 Active 10 DOM
12. 2026-06-01
    days on market $120,000 Active 9 DOM
13. 2026-05-31
    days on market $120,000 Active 8 DOM
14. 2026-05-23
    historical $120,000

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $936 · $78/mo
• Expected delta: +$527/yr (+$44/mo · 128.8%)

ⓘ 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 ≥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: $20,634
• − Mortgage interest: −$5,321
• − Property taxes: −$409
• − Insurance: −$475
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$2,764
• Taxable income: $8,363
• Est. tax owed @ 24.0%: −$2,007
• After-tax cash flow: $7,431/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

1 event — show timeline

• 2026-05-23 Coming Soon $120,000 MiRealSource-MiMLS

Property tax history

+4.5%/yr

Latest (2025): $409 · -52.0% YoY. Source: county tax records.