6490 Rosemont Ave · Detroit, MI 48228

$115,000

4 bd · 1.0 ba · 1,141 sqft · SingleFamily public records · 22 Days on market

Built 1927 5,227 sqft lot $101/sqft · 53% 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

A four-bedroom and a walk-in closet home in a sought-after area, near Dearborn and Dearborn Heights, and close to the West Warren shopping district. close to schools and highways. A very nice home, including a basement and a two-car garage. New carpet, kitchen floor and a host of updates. A used furnace and water tank will be installed before closing. A short-term land contract is possible with half down. Property is sold in AS IS condition. Buyer and buyer agent to verify all information.

Key facts

• Close to schools
• Walk-in closet
• Basement

Tags

• WALK-IN CLOSET
• WEST WARREN SHOPPING DISTRICT
• CLOSE TO SCHOOLS
• CLOSE TO HIGHWAYS
• BASEMENT
• TWO-CAR GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Lower-level entry with steps; Aluminum siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.12 acre (40 x 137)

Interior

• Bedrooms: Bedrooms on multiple levels (two-story home)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Unfinished basement; Total of 7 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,449/mo this rent would consume 57% 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 $795 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 22 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 27y 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.
• Current owner paid $8k; list at $115k implies a 1253% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $113,275 (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: 1.26% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.22%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (median comp): $74,947
• List price: $115,000
• Delta: 53.44%
• 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
6300 Penrod St	0.19mi	4/1.0	1,080 (-5%)	1mo	$78,000	$72	81
6849 Rosemont Ave	0.21mi	3/1.0 (-1)	1,211 (+6%)	2mo	$100,000	$83	74
6427 Artesian St	0.40mi	3/1.0 (-1)	1,118 (-2%)	0mo	$100,000	$89	73
7280 Rosemont Ave	0.40mi	3/1.0 (-1)	1,085 (-5%)	5mo	$105,000	$97	64
7346 Stahelin Ave	0.56mi	3/1.0 (-1)	1,175 (+3%)	4mo	$73,000	$62	60
6712 Artesian St	0.38mi	3/1.0 (-1)	1,000 (-12%)	1mo	$97,500	$98	56
7391 Ashton Ave	0.51mi	3/1.0 (-1)	1,023 (-10%)	3mo	$40,000	$39	52
6303 Grandmont Ave	0.51mi	3/2.0 (-1)	1,230 (+8%)	4mo	$90,000	$73	51
7633 Faust Ave	0.62mi	3/1.0 (-1)	1,045 (-8%)	3mo	$60,000	$57	50
6120 Stahelin Ave	0.46mi	3/1.0 (-1)	1,291 (+13%)	3mo	$70,000	$54	49
7425 Stahelin Ave	0.63mi	3/1.0 (-1)	1,000 (-12%)	4mo	$37,000	$37	42
6873 Piedmont street Piedmont St	0.57mi	3/1.0 (-1)	973 (-15%)	4mo	$100,000	$103	40

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $3,123
• Equity at exit: $17,147

10-year hold

• IRR: 9.2%
• Equity multiple: 1.61×
• Total profit: $19,757
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$603
• Tax from tax record: −$85 /mo · $1,019/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $409

Break-even live

Break-even rent $932

Max offer price $115,000

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6490 Stahelin Ave Detroit, MI	3.0	1.0	960	$1,299	$1.35	17d	1	0.30mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	24d	1	0.37mi
6474 Saint Marys St Detroit, MI	3.0	1.0	1237	$1,350	$1.09	44d	1	0.76mi
7312 Mansfield St Detroit, MI	4.0	1.0	1300	$1,400	$1.08	17d	1	0.92mi
5521 Fairlane Woods Dr Dearborn, MI	1.0–3.0	1.0–2.0	1164	$2,430	$2.09	2d	12	0.97mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	5d	1	0.99mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	44d	1	1.11mi
20571 Brooklawn Dr Dearborn Heights, MI	3.0	2.0	1254	$1,850	$1.48	44d	1	1.16mi
7794 Vaughan St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.20mi
7411 Stout St Detroit, MI	3.0	1.0	888	$1,428	$1.61	13d	1	1.20mi
7265 Braile St Detroit, MI	3.0	1.0	1200	$1,499	$1.25	24d	1	1.27mi
20431 Tireman St Detroit, MI	3.0	1.0	1020	$1,350	$1.32	17d	1	1.36mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.36mi
8283 Vaughan St Detroit, MI	3.0	1.0	1058	$1,294	$1.22	5d	1	1.40mi

Listing history 33 events

1. 2026-04-27
   listed $115,000 Active 494-char remark

   Show marketing remark (494 chars)

   A four-bedroom and a walk-in closet home in a sought-after area, near Dearborn and Dearborn Heights, and close to the West Warren shopping district. close to schools and highways. A very nice home, including a basement and a two-car garage. New carpet, kitchen floor and a host of updates. A used furnace and water tank will be installed before closing. A short-term land contract is possible with half down. Property is sold in AS IS condition. Buyer and buyer agent to verify all information.

2. 2026-04-27
   listed $115,000 Active 494-char remark

   Show marketing remark (494 chars)

   A four-bedroom and a walk-in closet home in a sought-after area, near Dearborn and Dearborn Heights, and close to the West Warren shopping district. close to schools and highways. A very nice home, including a basement and a two-car garage. New carpet, kitchen floor and a host of updates. A used furnace and water tank will be installed before closing. A short-term land contract is possible with half down. Property is sold in AS IS condition. Buyer and buyer agent to verify all information.

3. 2022-05-24
   price $1,450
4. 2008-01-24
   soldstatus $8,500

   Show marketing remark (199 chars)

   CORPORATE OWNED HOME IN DESIRABLE AREA IN WARRENDALE. THIS 3 BEDROOM HOME IS A WONDERFUL INVESTMENT OPPORTUNITY. HOME SOLD-AS. BUYER TO SIGN CORPORATE ADDENDUMS. DEPOSIT TO BE HELD BY LISTING BROKER.

5. 2007-07-10
   listed $21,900

   Show marketing remark (199 chars)

   CORPORATE OWNED HOME IN DESIRABLE AREA IN WARRENDALE. THIS 3 BEDROOM HOME IS A WONDERFUL INVESTMENT OPPORTUNITY. HOME SOLD-AS. BUYER TO SIGN CORPORATE ADDENDUMS. DEPOSIT TO BE HELD BY LISTING BROKER.

6. 2006-05-12
   soldstatus $105,000
7. 2005-08-17
   soldstatus $54,000
8. 2005-06-27
   listed $57,750
9. 2005-03-13
   historical
10. 2004-09-13
    listed $99,000
11. 2004-09-10
    historical
12. 2004-04-18
    listed $99,900
13. 2004-04-04
    historical
14. 2003-10-04
    listed $115,000
15. 2001-10-04
    historical
16. 2001-05-18
    historical
17. 2001-05-18
    historical
18. 2001-04-04
    listed $88,500
19. 2001-04-04
    listed $88,500
20. 2001-04-03
    historical
21. 2001-02-19
    listed $88,500
22. 2001-02-19
    listed $88,500
23. 2001-02-18
    listed $88,500
24. 2000-08-31
    soldstatus $74,900
25. 2000-05-22
    soldstatus $74,900
26. 2000-02-21
    listed $74,900
27. 2000-02-21
    historical
28. 2000-02-01
    historical
29. 2000-01-14
    listed $83,500
30. 2000-01-14
    historical
31. 1999-11-27
    listed $79,900
32. 1999-11-27
    listed $85,000
33. 1991-07-31
    soldstatus $35,000

ⓘ 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: $1,019 · $85/mo
• Projected year-2 tax: $1,395 · $116/mo
• Expected delta: +$376/yr (+$31/mo · 36.9%)

ⓘ 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: $17,384
• − Mortgage interest: −$6,442
• − Property taxes: −$1,019
• − Insurance: −$575
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$3,345
• Taxable income: $3,221
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,129/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

+228.6% since first listed

35 events — show timeline

• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-04-27 Listed $115,000 REALCOMP
• 2026-04-27 Listed $115,000 MiRealSource-MiMLS
• 2022-05-24 Price Changed $1,450 RENT.
• 2008-01-24 Sold (MLS) $8,500 REALCOMP
• 2007-07-10 Listed $21,900 REALCOMP
• 2006-05-12 Sold (Public Records) $105,000 Public Records
• 2005-08-17 Sold (MLS) $54,000 REALCOMP
• 2005-06-27 Listed $57,750 REALCOMP
• 2005-03-13 Listing Removed — REALCOMP
• 2004-09-13 Listed $99,000 REALCOMP
• 2004-09-10 Listing Removed — REALCOMP
• 2004-04-18 Listed $99,900 REALCOMP
• 2004-04-04 Listing Removed — REALCOMP
• 2003-10-04 Listed $115,000 REALCOMP
• 2001-10-04 Listing Removed — MiRealSource-MiMLS
• 2001-05-18 Listing Removed — REALCOMP
• 2001-05-18 Listing Removed — MiRealSource-MiMLS
• 2001-04-04 Listed $88,500 REALCOMP
• 2001-04-04 Listed $88,500 MiRealSource-MiMLS
• 2001-04-03 Listing Removed — REALCOMP
• 2001-02-19 Listed $88,500 REALCOMP
• 2001-02-19 Listed $88,500 MiRealSource-MiMLS
• 2001-02-18 Listed $88,500 REALCOMP
• 2000-08-31 Sold (Public Records) $74,900 Public Records
• 2000-05-22 Sold (MLS) $74,900 REALCOMP
• 2000-02-21 Listing Removed — REALCOMP
• 2000-02-21 Listed $74,900 REALCOMP
• 2000-02-01 Listing Removed — REALCOMP
• 2000-01-14 Listing Removed — REALCOMP
• 2000-01-14 Listed $83,500 REALCOMP
• 1999-11-27 Listed $85,000 REALCOMP
• 1999-11-27 Listed $79,900 REALCOMP
• 1991-07-31 Sold (Public Records) $35,000 Public Records

Property tax history

-4.1%/yr

Latest (2025): $1,019 · +1.6% YoY. Source: county tax records.