8601 Vaughan St · Detroit, MI 48228

$89,000

2 bd · 1.0 ba · 438 sqft · SingleFamily public records · 28 Days on market

Built 1927 5,227 sqft lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Very large corner lot! Basement for storage and laundry. !!!!!

Key facts

• Corner lot
• 5,227 sq ft lot
• Built 1927

Tags

• CORNER LOT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water available; Public sewer available
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation; Approximately 800 above-grade finished square feet
• Exterior features: Paved road access; Lot approximately 0.12 acres (40 x 127)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $88k (1.5% 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: Rents soft (-2.3%/yr); 363 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% 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 $615 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 28 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.79×
• Total profit: $-5,354
• Equity at exit: $13,270

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-629
• Equity at exit: $7,695

Cash invested: $24,920 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $189

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 76%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $89,000 Active 28 DOM
2. 2026-06-17
   days on market $89,000 Active 27 DOM
3. 2026-06-15
   days on market $89,000 Active 25 DOM
4. 2026-06-13
   days on market $89,000 Active 23 DOM
5. 2026-06-13
   remarks 694-char remark
6. 2026-06-13
   pricedays on market $89,000 Active 22 DOM
7. 2026-06-09
   days on market $90,000 Active 19 DOM
8. 2026-06-08
   days on market $90,000 Active 18 DOM
9. 2026-06-07
   days on market $90,000 Active 17 DOM
10. 2026-06-04
    days on market $90,000 Active 14 DOM
11. 2026-06-03
    days on market $90,000 Active 13 DOM
12. 2026-06-02
    days on market $90,000 Active 12 DOM
13. 2026-06-01
    days on market $90,000 Active 11 DOM
14. 2026-05-31
    days on market $90,000 Active 10 DOM
15. 2026-05-21
    listed $90,000 Active 121-char remark

    Show marketing remark (121 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Very large corner lot! Basement for storage and laundry. !!!!!

16. 2026-05-21
    listed $90,000 Active

    Show marketing remark (121 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Very large corner lot! Basement for storage and laundry. !!!!!

17. 2022-12-12
    soldstatus $84,900
18. 2022-11-07
    soldstatus $16,000 Sold 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

19. 2022-11-07
    soldstatus $16,000 Closed

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

20. 2022-04-12
    status Pending

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

21. 2022-04-12
    status Pending 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

22. 2022-04-12
    price $17,900

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

23. 2022-04-12
    price $17,900 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

24. 2022-04-06
    price $19,400

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

25. 2022-04-06
    price $19,400 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

26. 2022-01-21
    price $19,900
27. 2022-01-20
    price $19,900 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

28. 2021-09-23
    price $27,500

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

29. 2021-09-23
    price $27,500 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

30. 2021-06-01
    listed $29,900 Active 261-char remark

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

31. 2021-06-01
    listed $29,900 Active

    Show marketing remark (261 chars)

    2 bedroom 1 bathroom ranch in the Warrendale neighborhood! Needs complete restoration. Bring your tools and imagination! Very large corner lot! Basement for storage and laundry. 1 car attached garage. Hurry! Motivated seller willing to consider all offers!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $12,213
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$2,589
• Taxable income: $904
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,050/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

+201.0% since first listed

17 events — show timeline

• 2026-05-21 Listed $90,000 REALCOMP
• 2026-05-21 Listed $90,000 MiRealSource-MiMLS
• 2022-12-12 Sold (Public Records) $84,900 Public Records
• 2022-11-07 Sold (MLS) $16,000 MiRealSource-MiMLS
• 2022-11-07 Sold (MLS) $16,000 REALCOMP
• 2022-04-12 Pending — MiRealSource-MiMLS
• 2022-04-12 Pending — REALCOMP
• 2022-04-12 Price Changed $17,900 MiRealSource-MiMLS
• 2022-04-12 Price Changed $17,900 REALCOMP
• 2022-04-06 Price Changed $19,400 MiRealSource-MiMLS
• 2022-04-06 Price Changed $19,400 REALCOMP
• 2022-01-21 Price Changed $19,900 MiRealSource-MiMLS
• 2022-01-20 Price Changed $19,900 REALCOMP
• 2021-09-23 Price Changed $27,500 MiRealSource-MiMLS
• 2021-09-23 Price Changed $27,500 REALCOMP
• 2021-06-01 Listed $29,900 MiRealSource-MiMLS
• 2021-06-01 Listed $29,900 REALCOMP

Property tax history

-24.7%/yr

Latest (2025): $30 · -11.8% YoY. Source: county tax records.