6426 Artesian St · Detroit, MI 48228

$64,900

2 bd · 1.0 ba · 568 sqft · SingleFamily public records · 66 Days on market

Built 1924 6,098 sqft lot $114/sqft · 17% above area Est $59k · 11% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• ARV discount +2.7/15.0
• 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

wonderful 2-bedroom, 1-bath ranch now available in Warrendale area , ideally situated on the border of Dearborn couple blocks of Ford Rd. This cozy 600 sq. ft. home features a deep, private lot enclosed by a privacy fence, offering a tranquil and secluded living experience. Residents can enjoy peaceful evenings by the fire pit or relax on the back deck, taking in the quiet surroundings. The property's spacious layout provides excellent potential for future expansion comes with new construction large size garage and extra storage.

Key facts

• Large size garage
• Private lot
• Extra storage

Tags

• PRIVATE LOT
• PRIVACY FENCE
• FIRE PIT
• BACK DECK
• LARGE SIZE GARAGE
• EXTRA STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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 soft (-2.3%/yr); 363 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); 50% 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).
• At $1,216/mo this rent would consume 48% of the median local household income ($31k/yr) (locally 4144% 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 $449 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 30 sale attempts since 29y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 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. 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: 1.87% ✓
• Cap rate: 14.83%
• Cash-on-cash: 30.48%
• DSCR: 2.36
• GRM: 4.4

CMA / ARV

• ARV (median comp): $58,598
• List price: $64,900
• Delta: 10.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6426 Artesian St	0.00mi	2/1.0	600 (+6%)	10mo	$45,000	$75	82
6893 Plainview Ave	0.57mi	2/1.0	600 (+6%)	2mo	$23,500	$39	62
6346 Stahelin Ave	0.09mi	1/1.0 (-1)	487 (-14%)	7mo	$36,000	$74	61
6088 Auburn St	0.48mi	2/1.0	573 (+1%)	19mo	$35,000	$61	60
6514 Minock St	0.34mi	2/1.0	608 (+7%)	19mo	$42,500	$70	56

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: 21.5%
• Equity multiple: 1.85×
• Total profit: $15,362
• Equity at exit: $9,677

10-year hold

• IRR: 27.5%
• Equity multiple: 3.07×
• Total profit: $37,654
• Equity at exit: $5,611

Cash invested: $18,172 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$340
• Tax from tax record: −$132 /mo · $1,582/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $461

Break-even live

Break-even rent $632

Max offer price $64,900

Occupancy floor 57%

Sensitivity live

Price	-10% $498	-5% $480	+0% $461	+5% $443	+10% $425
Rent	-10% $365	-5% $413	+0% $461	+5% $510	+10% $558
Rate	-1.0pp $494	-0.5pp $478	base $461	+0.5pp $445	+1.0pp $428

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5777 Southfield Fwy Detroit, MI	2.0	1.0–2.0	667	$1,540	$2.31	3d	10	0.53mi
6980 Town Ln Dearborn Heights, MI	1.0	1.0	600	$895	$1.49	18d	1	0.72mi
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	0.86mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.36mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	44d	1	1.37mi
4900 Heather Dr Dearborn, MI	1.0–2.0	1.0–2.0	921	$1,980	$2.15	2d	1	1.49mi

Listing history 50 events

1. 2026-06-09
   days on market $64,900 Active 66 DOM
2. 2026-06-08
   days on market $64,900 Active 65 DOM
3. 2026-06-07
   days on market $64,900 Active 64 DOM
4. 2026-06-04
   days on market $64,900 Active 61 DOM
5. 2026-06-03
   days on market $64,900 Active 60 DOM
6. 2026-06-02
   days on market $64,900 Active 59 DOM
7. 2026-06-01
   days on market $64,900 Active 58 DOM
8. 2026-05-31
   price $64,900 Active 57 DOM
9. 2026-05-31
   days on market $69,900 Active 57 DOM
10. 2026-04-04
    listed $69,900 Active 535-char remark

    Show marketing remark (535 chars)

    wonderful 2-bedroom, 1-bath ranch now available in Warrendale area , ideally situated on the border of Dearborn couple blocks of Ford Rd. This cozy 600 sq. ft. home features a deep, private lot enclosed by a privacy fence, offering a tranquil and secluded living experience. Residents can enjoy peaceful evenings by the fire pit or relax on the back deck, taking in the quiet surroundings. The property's spacious layout provides excellent potential for future expansion comes with new construction large size garage and extra storage.

11. 2026-04-04
    listed $69,900 Active 535-char remark

    Show marketing remark (535 chars)

    wonderful 2-bedroom, 1-bath ranch now available in Warrendale area , ideally situated on the border of Dearborn couple blocks of Ford Rd. This cozy 600 sq. ft. home features a deep, private lot enclosed by a privacy fence, offering a tranquil and secluded living experience. Residents can enjoy peaceful evenings by the fire pit or relax on the back deck, taking in the quiet surroundings. The property's spacious layout provides excellent potential for future expansion comes with new construction large size garage and extra storage.

12. 2026-03-25
    historical
13. 2026-02-10
    status Active
14. 2026-02-10
    status Active
15. 2026-01-08
    status Pending
16. 2026-01-08
    status Pending
17. 2026-01-08
    historical
18. 2025-11-14
    price $69,900
19. 2025-11-14
    price $69,900
20. 2025-09-24
    listed $74,900 Active
21. 2025-09-24
    listed $74,900 Active
22. 2025-09-11
    soldstatus $45,000
23. 2025-08-15
    soldstatus $45,000 Closed
24. 2025-08-15
    soldstatus $45,000 Closed
25. 2025-08-01
    status Pending
26. 2025-08-01
    status Pending
27. 2025-07-24
    listed $49,900 Active
28. 2025-07-24
    listed $49,900 Active
29. 2023-10-09
    historical $850
30. 2023-09-26
    listed $850
31. 2023-05-07
    status Pending
32. 2023-05-07
    status Pending
33. 2023-05-06
    historical
34. 2023-05-06
    historical
35. 2023-05-03
    listed $45,000 Active
36. 2023-05-03
    listed $45,000 Active
37. 2022-06-28
    status Pending
38. 2022-06-21
    status Active
39. 2022-06-21
    status Active
40. 2022-06-20
    status Pending
41. 2022-06-20
    status Pending
42. 2022-06-03
    price $49,900
43. 2022-06-03
    price $49,900
44. 2022-05-19
    listed $59,900 Active
45. 2022-05-19
    listed $59,900 Active
46. 2020-09-18
    soldstatus $28,000 Sold
47. 2020-09-18
    soldstatus $28,000 Closed
48. 2020-09-11
    status Pending
49. 2020-09-11
    status Pending
50. 2020-06-25
    listed $35,000 Active

ⓘ 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: $1,582 · $132/mo
• Projected year-2 tax: $1,582 · $132/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,593
• − Mortgage interest: −$3,635
• − Property taxes: −$1,582
• − Insurance: −$324
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$1,888
• Taxable income: $4,828
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,379/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

+169.9% since first listed

70 events — show timeline

• 2026-04-04 Listed $69,900 REALCOMP
• 2026-04-04 Listed $69,900 MiRealSource-MiMLS
• 2026-03-25 Listing Removed — MiRealSource-MiMLS
• 2026-02-10 Relisted — MiRealSource-MiMLS
• 2026-02-10 Relisted — REALCOMP
• 2026-01-08 Pending — MiRealSource-MiMLS
• 2026-01-08 Pending — REALCOMP
• 2026-01-08 Listing Removed — REALCOMP
• 2025-11-14 Price Changed $69,900 MiRealSource-MiMLS
• 2025-11-14 Price Changed $69,900 REALCOMP
• 2025-09-24 Listed $74,900 REALCOMP
• 2025-09-24 Listed $74,900 MiRealSource-MiMLS
• 2025-09-11 Sold (Public Records) $45,000 Public Records
• 2025-08-15 Sold (MLS) $45,000 REALCOMP
• 2025-08-15 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2025-08-01 Pending — MiRealSource-MiMLS
• 2025-08-01 Pending — REALCOMP
• 2025-07-24 Listed $49,900 REALCOMP
• 2025-07-24 Listed $49,900 MiRealSource-MiMLS
• 2023-10-09 Rental Removed $850 REALSOURCE
• 2023-09-26 Listed for Rent $850 REALSOURCE
• 2023-05-07 Pending — MiRealSource-MiMLS
• 2023-05-07 Pending — REALCOMP
• 2023-05-06 Listing Removed — MiRealSource-MiMLS
• 2023-05-06 Listing Removed — REALCOMP
• 2023-05-03 Listed $45,000 MiRealSource-MiMLS
• 2023-05-03 Listed $45,000 REALCOMP
• 2022-06-28 Pending — REALCOMP
• 2022-06-21 Relisted — MiRealSource-MiMLS
• 2022-06-21 Relisted — REALCOMP
• 2022-06-20 Pending — REALCOMP
• 2022-06-20 Pending — MiRealSource-MiMLS
• 2022-06-03 Price Changed $49,900 MiRealSource-MiMLS
• 2022-06-03 Price Changed $49,900 REALCOMP
• 2022-05-19 Listed $59,900 MiRealSource-MiMLS
• 2022-05-19 Listed $59,900 REALCOMP
• 2020-09-18 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2020-09-18 Sold (MLS) $28,000 REALCOMP
• 2020-09-11 Pending — MiRealSource-MiMLS
• 2020-09-11 Pending — REALCOMP
• 2020-06-25 Listed $35,000 MiRealSource-MiMLS
• 2020-06-25 Listed $35,000 REALCOMP
• 2017-07-31 Listing Removed — REALCOMP
• 2017-07-31 Listing Removed — MiRealSource-MiMLS
• 2017-07-07 Relisted — MiRealSource-MiMLS
• 2017-07-07 Relisted — REALCOMP
• 2017-06-16 Pending — MiRealSource-MiMLS
• 2017-06-16 Pending — REALCOMP
• 2017-01-14 Listed $19,900 MiRealSource-MiMLS
• 2017-01-12 Listed $19,900 REALCOMP
• 2013-05-13 Listing Removed — MiRealSource-MiMLS
• 2013-05-13 Listing Removed — REALCOMP
• 2013-04-12 Listed $5,000 MiRealSource-MiMLS
• 2013-04-12 Listed $5,000 REALCOMP
• 2010-03-25 Sold (MLS) $3,055 REALCOMP
• 2010-01-22 Listed $5,000 REALCOMP
• 2009-12-28 Listing Removed — REALCOMP
• 2008-12-27 Listing Removed — REALCOMP
• 2008-12-27 Listed $55,000 REALCOMP
• 2008-06-17 Listing Removed — REALCOMP
• 2008-06-17 Listed $55,000 REALCOMP
• 2006-07-28 Listing Removed — REALCOMP
• 2006-07-28 Listed $55,000 REALCOMP
• 2006-03-01 Listing Removed — REALCOMP
• 2006-03-01 Listed $49,000 REALCOMP
• 2005-07-21 Listed $49,900 REALCOMP
• 1999-02-05 Sold (Public Records) $50,000 Public Records
• 1998-11-12 Sold (Public Records) $12,000 Public Records
• 1998-03-01 Listing Removed — REALCOMP
• 1997-11-18 Listed $25,900 REALCOMP

Property tax history

+11.9%/yr

Latest (2025): $1,582 · -9.5% YoY. Source: county tax records.