8647 Stout St · Detroit, MI 48228

$82,900

2 bd · 1.0 ba · 693 sqft · SingleFamily public records · 62 Days on market

Built 1949 5,227 sqft lot $120/sqft · 74% above area

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• 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

COZY TENANT OCCUPIED RANCH HOME LOCATED JUST SOUTH OF JOY AND WEST OF EVERGREEN. THIS HOME FEATURES A COVERED FRONT PORCH, ONE CAR DETACHED GARAGE, LIVING ROOM, KITCHEN, TWO BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS CURRENTLY OCCUPIED BY A TENANT WHO PAYS 950 PER MONTH, AND WILL BE STAYING WITH THE PROPERTY. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• Covered front porch
• Unfinished basement
• Detached garage

Tags

• COVERED FRONT PORCH
• DETACHED GARAGE
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Recommended offer: $78k (6.0% 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: Rents soft (-2.3%/yr); 363 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 43% 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 $573 of loan paydown is wiped out by about $2k 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 62 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,926 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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: 1.31% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.49%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (median comp): $47,589
• List price: $82,900
• Delta: 74.20%
• 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
8645 Fielding St	0.06mi	2/1.0	693 (0%)	2mo	$39,000	$56	95
8411 Fielding St	0.17mi	2/1.0	693 (0%)	1mo	$47,000	$68	92
8611 Stout St	0.03mi	2/1.0	693 (0%)	13mo	$35,000	$51	88
8499 Braile St	0.20mi	2/1.0	726 (+5%)	8mo	$55,000	$76	76
9107 Vaughan St	0.33mi	2/1.0	732 (+6%)	12mo	$47,000	$64	65
9101 Heyden St	0.31mi	2/1.0	740 (+7%)	13mo	$40,000	$54	63
8257 Minock St	0.44mi	2/1.0	737 (+6%)	8mo	$32,000	$43	62
8062 Grandville Ave	0.63mi	2/1.0	732 (+6%)	6mo	$60,000	$82	56
7730 Braile St	0.55mi	3/1.0 (+1)	768 (+11%)	2mo	$68,000	$89	50
9271 Minock St	0.57mi	3/1.0 (+1)	736 (+6%)	12mo	$85,714	$116	48
8900 Artesian St	0.74mi	2/1.0	746 (+8%)	10mo	$35,000	$47	44
9046 Grandville Ave	0.58mi	2/1.0	787 (+14%)	11mo	$72,000	$91	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $2,471
• Equity at exit: $12,361

10-year hold

• IRR: 9.3%
• Equity multiple: 1.62×
• Total profit: $14,442
• Equity at exit: $7,168

Cash invested: $23,212 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,087 high
• Mortgage (P&I): −$435
• Tax from tax record: −$90 /mo · $1,082/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $300

Break-even live

Break-even rent $708

Max offer price $82,900

Occupancy floor 67%

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: $20,725
• Closing costs: $2,487
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.52mi
20237 W Chicago Detroit, MI	1.0	1.0	650	$850	$1.31	43d	1	0.59mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	43d	1	0.63mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	43d	1	1.01mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	17d	1	1.11mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	1.15mi
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	43d	1	1.33mi
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	2d	1	1.42mi

Listing history 17 events

1. 2026-06-18
   days on market $82,900 Active 62 DOM
2. 2026-06-17
   days on market $82,900 Active 61 DOM
3. 2026-06-15
   days on market $82,900 Active 59 DOM
4. 2026-06-13
   days on market $82,900 Active 57 DOM
5. 2026-06-13
   days on market $82,900 Active 56 DOM
6. 2026-06-09
   days on market $82,900 Active 53 DOM
7. 2026-06-08
   days on market $82,900 Active 52 DOM
8. 2026-06-07
   days on market $82,900 Active 51 DOM
9. 2026-06-04
   days on market $82,900 Active 48 DOM
10. 2026-06-03
    days on market $82,900 Active 47 DOM
11. 2026-06-02
    days on market $82,900 Active 46 DOM
12. 2026-06-01
    days on market $82,900 Active 45 DOM
13. 2026-05-31
    days on market $82,900 Active 44 DOM
14. 2026-04-17
    listed $82,900 Active 529-char remark

    Show marketing remark (529 chars)

    COZY TENANT OCCUPIED RANCH HOME LOCATED JUST SOUTH OF JOY AND WEST OF EVERGREEN. THIS HOME FEATURES A COVERED FRONT PORCH, ONE CAR DETACHED GARAGE, LIVING ROOM, KITCHEN, TWO BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS CURRENTLY OCCUPIED BY A TENANT WHO PAYS 950 PER MONTH, AND WILL BE STAYING WITH THE PROPERTY. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

15. 2026-04-17
    listed $82,900 Active 529-char remark

    Show marketing remark (529 chars)

    COZY TENANT OCCUPIED RANCH HOME LOCATED JUST SOUTH OF JOY AND WEST OF EVERGREEN. THIS HOME FEATURES A COVERED FRONT PORCH, ONE CAR DETACHED GARAGE, LIVING ROOM, KITCHEN, TWO BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS CURRENTLY OCCUPIED BY A TENANT WHO PAYS 950 PER MONTH, AND WILL BE STAYING WITH THE PROPERTY. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

16. 2019-01-03
    soldstatus $420,000
17. 2013-11-20
    soldstatus $323,000

ⓘ 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: $1,082 · $90/mo
• Projected year-2 tax: $1,179 · $98/mo
• Expected delta: +$97/yr (+$8/mo · 9.0%)

ⓘ 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 ≥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: $13,049
• − Mortgage interest: −$4,644
• − Property taxes: −$1,082
• − Insurance: −$414
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$2,412
• Taxable income: $2,409
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $3,017/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

-74.3% since first listed

4 events — show timeline

• 2026-04-17 Listed $82,900 MiRealSource-MiMLS
• 2026-04-17 Listed $82,900 REALCOMP
• 2019-01-03 Sold (Public Records) $420,000 Public Records
• 2013-11-20 Sold (Public Records) $323,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $1,082 · -53.8% YoY. Source: county tax records.