7087 Chatfield St · Detroit, MI 48209

$125,000

3 bd · 1.0 ba · 834 sqft · SingleFamily public records · 151 Days on market

Built 1924 3,485 sqft lot $150/sqft · 43% above area Est $88k · 43% 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 +14.5/30.0
• Appreciation +10.0/10.0
• DSCR +4.4/10.0
• 1% rule +4.1/10.0
• 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

Come and check out this beautifully renovated 3 beds 1 bath home in the heart of SW Detroit. Featuring recently updated windows, a renovated kitchen, and a refreshed bathroom, this home is ready for you to move in and make it your own. * * * Property is located across of street from Roberto Clemente Academy !!!!

Key facts

• Updated windows
• Refreshed bathroom
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• REFRESHED BATHROOM
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $28 ($341/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 $114k (8.7% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 10.2% 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: 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: 66 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 32% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y 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 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 1924 — 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. 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?
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: 0.91% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 9.1

CMA / ARV

• ARV (median comp): $87,707
• List price: $125,000
• Delta: 42.52%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7774 Cahalan St	0.36mi	2/1.0 (-1)	749 (-10%)	11mo	$158,000	$211	52
1041 Lewerenz St	0.26mi	2/1.0 (-1)	954 (+14%)	20mo	$71,000	$74	42
8379 Whittaker St	0.73mi	2/1.0 (-1)	755 (-10%)	23mo	$67,500	$89	26

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: 25.0%
• Equity multiple: 3.00×
• Total profit: $69,909
• Equity at exit: $112,610

10-year hold

• IRR: 22.1%
• Equity multiple: 6.84×
• Total profit: $204,494
• Equity at exit: $242,848

Cash invested: $35,000 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 66
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,141 high
• Mortgage (P&I): −$656
• Tax from tax record: −$165 /mo · $1,984/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $28

Break-even live

Break-even rent $1,105

Max offer price $125,000

Occupancy floor 93%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6720 Regular St Unit 6724 Detroit, MI	2.0	1.0	750	$950	$1.27	44d	1	0.18mi
7263 Senator St Detroit, MI	2.0	1.0	909	$1,300	$1.43	44d	1	0.34mi
6628 W Lafayette Blvd Detroit, MI	2.0	1.0	900	$965	$1.07	44d	1	0.37mi
2508 Inglis St Detroit, MI	2.0	1.0	750	$1,100	$1.47	24d	1	0.75mi
2488 Woodmere St Detroit, MI	3.0	1.0	1000	$1,453	$1.45	5d	1	1.01mi
764 Woodmere St Apt 8 Detroit, MI	2.0	1.0	990	$1,100	$1.11	44d	1	1.15mi

Listing history 33 events

1. 2026-06-13
   days on market $125,000 Active 151 DOM
2. 2026-06-13
   days on market $125,000 Active 150 DOM
3. 2026-06-09
   days on market $125,000 Active 147 DOM
4. 2026-06-08
   days on market $125,000 Active 146 DOM
5. 2026-06-07
   days on market $125,000 Active 145 DOM
6. 2026-06-04
   days on market $125,000 Active 142 DOM
7. 2026-06-03
   days on market $125,000 Active 141 DOM
8. 2026-06-01
   days on market $125,000 Active 139 DOM
9. 2026-05-31
   days on market $125,000 Active 138 DOM
10. 2026-01-13
    listed $125,000 Active 316-char remark

    Show marketing remark (316 chars)

    Come and check out this beautifully renovated 3 beds 1 bath home in the heart of SW Detroit. Featuring recently updated windows, a renovated kitchen, and a refreshed bathroom, this home is ready for you to move in and make it your own. * * * Property is located across of street from Roberto Clemente Academy !!!!

11. 2026-01-13
    listed $125,000 Active 316-char remark

    Show marketing remark (316 chars)

    Come and check out this beautifully renovated 3 beds 1 bath home in the heart of SW Detroit. Featuring recently updated windows, a renovated kitchen, and a refreshed bathroom, this home is ready for you to move in and make it your own. * * * Property is located across of street from Roberto Clemente Academy !!!!

12. 2023-10-27
    soldstatus $120,000
13. 2023-09-25
    status Pending
14. 2023-09-25
    status Pending
15. 2023-09-22
    soldstatus $120,000 Sold
16. 2023-09-22
    soldstatus $120,000 Closed
17. 2023-06-09
    listed $120,000 Active
18. 2023-06-09
    listed $120,000 Active
19. 2023-05-10
    soldstatus $23,000 Sold
20. 2023-05-10
    soldstatus $23,000 Closed
21. 2023-04-25
    listed $24,900 Active
22. 2023-04-25
    listed $24,900 Active
23. 2013-07-18
    soldstatus $11,532
24. 2013-07-18
    soldstatus $11,532
25. 2013-06-25
    historical
26. 2013-06-25
    historical
27. 2013-06-14
    listed $9,000
28. 2013-06-14
    listed $9,000
29. 2004-10-14
    soldstatus $52,000
30. 2004-07-14
    soldstatus $52,000
31. 2004-07-07
    historical
32. 2004-05-07
    listed $55,000
33. 2004-01-07
    listed $55,000

ⓘ 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: $1,984 · $165/mo
• Projected year-2 tax: $1,984 · $165/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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,691
• − Mortgage interest: −$7,002
• − Property taxes: −$1,984
• − Insurance: −$625
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$3,636
• Taxable loss: −$1,747
• Est. tax savings @ 24.0%: +$419
• After-tax cash flow: $760/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• 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

+127.3% since first listed

24 events — show timeline

• 2026-01-13 Listed $125,000 REALCOMP
• 2026-01-13 Listed $125,000 MiRealSource-MiMLS
• 2023-10-27 Sold (Public Records) $120,000 Public Records
• 2023-09-25 Pending — MiRealSource-MiMLS
• 2023-09-25 Pending — REALCOMP
• 2023-09-22 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2023-09-22 Sold (MLS) $120,000 REALCOMP
• 2023-06-09 Listed $120,000 MiRealSource-MiMLS
• 2023-06-09 Listed $120,000 REALCOMP
• 2023-05-10 Sold (MLS) $23,000 MiRealSource-MiMLS
• 2023-05-10 Sold (MLS) $23,000 REALCOMP
• 2023-04-25 Listed $24,900 MiRealSource-MiMLS
• 2023-04-25 Listed $24,900 REALCOMP
• 2013-07-18 Sold (MLS) $11,532 MiRealSource-MiMLS
• 2013-07-18 Sold (MLS) $11,532 REALCOMP
• 2013-06-25 Listing Removed — MiRealSource-MiMLS
• 2013-06-25 Listing Removed — REALCOMP
• 2013-06-14 Listed $9,000 MiRealSource-MiMLS
• 2013-06-14 Listed $9,000 REALCOMP
• 2004-10-14 Sold (Public Records) $52,000 Public Records
• 2004-07-14 Sold (MLS) $52,000 REALCOMP
• 2004-07-07 Listing Removed — REALCOMP
• 2004-05-07 Listed $55,000 REALCOMP
• 2004-01-07 Listed $55,000 REALCOMP

Property tax history

+6.7%/yr

Latest (2025): $1,984 · -54.3% YoY. Source: county tax records.