7720 E Canfield St · Detroit, MI 48214

$142,500

4 bd · 1.5 ba · 1,686 sqft · SingleFamily public records · 47 Days on market

Built 1914 3,049 sqft lot $85/sqft · 128% 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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 7720 E Canfield, a spacious brick colonial offering strong rental stability and long-term investment potential. This well-maintained property features 4 bedrooms and 2 full bathrooms, blending classic Detroit architecture with a functional layout suited for everyday living. Inside, you'll find generous living and dining areas that provide comfortable, open space throughout the main level. The home's traditional colonial design offers well-sized bedrooms and practical flow between rooms, while the full basement adds valuable storage, utility space, and potential for future improvements. Solid brick construction enhances both durability and curb appeal. Currently tenant occupied, this property presents a strong opportunity for investors seeking consistent rental income and a reliable addition to their portfolio. Please do not disturb the tenant. Showings will be permitted after an accepted offer to respect tenant privacy. Possession is subject to tenant rights. Conveniently located near major roadways, neighborhood amenities, and local shopping, the property offers accessibility and continued rental demand within the Detroit market. Buyer to verify all information. Property sold as-is.

Key facts

• 3,049 sq ft lot
• Built 1914
• Listed 46 days

Property features AI

Finance

• Other: Property type: Residential, Single Family Residence

Exterior

• Parking: No garage
• Utilities: Circuit breaker electrical panel; Cable available; Underground utilities; Sewer available
• Home design: Single-family residential; Two-story; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Asphalt roof; Built area above grade: 1,686 (units reported in source)
• Exterior features: Exterior lighting; Paved road access; Pets allowed

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Unfurnished; Gas water heater; Unfinished basement
• Laundry & utility: Heating present (forced air, natural gas)

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $138k (3.0% 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: 300 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1,662/mo this rent would consume 59% of the median local household income ($34k/yr) (locally 1364% 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 $985 of loan paydown is wiped out by about $4k 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 47 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.83%
• DSCR: 1.35
• GRM: 7.1

CMA / ARV

• ARV (median comp): $62,500
• List price: $142,500
• Delta: 128.00%
• 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
3752 Van Dyke St	0.26mi	4/2.5	1,746 (+4%)	4mo	$65,000	$37	75
4258 Seneca St	0.41mi	3/1.5 (-1)	1,655 (-2%)	1mo	$144,000	$87	72
3805 Seneca St	0.46mi	4/1.5	1,807 (+7%)	2mo	$185,000	$102	65
4157 Burns St	0.45mi	4/2.5	1,628 (-3%)	7mo	$320,000	$197	64
4475 Field St	0.24mi	4/1.0	1,471 (-13%)	2mo	$45,000	$31	64
3748 Burns St	0.56mi	4/1.5	1,776 (+5%)	4mo	$225,000	$127	62
3869 Burns St	0.48mi	4/1.5	1,505 (-11%)	2mo	$230,000	$153	58
5360 Burns St	0.74mi	4/1.0	1,664 (-1%)	4mo	$60,000	$36	57
4208 Holcomb St	0.72mi	4/1.5	1,584 (-6%)	11mo	$15,000	$9	47
2543 Beals St	0.75mi	4/2.0	1,800 (+7%)	7mo	$292,500	$163	46
3238 Helen St	0.57mi	3/1.0 (-1)	1,475 (-12%)	6mo	$58,425	$40	40
2927 Seyburn St	0.67mi	3/1.5 (-1)	1,500 (-11%)	9mo	$140,000	$93	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,433
• Equity at exit: $21,247

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $16,034
• Equity at exit: $12,321

Cash invested: $39,900 (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 48214

• Active inventory: 300
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,662 high
• Mortgage (P&I): −$747
• Tax from tax record: −$246 /mo · $2,947/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $261

Break-even live

Break-even rent $1,332

Max offer price $142,500

Occupancy floor 79%

Sensitivity live

Price	-10% $341	-5% $301	+0% $261	+5% $220	+10% $180
Rent	-10% $129	-5% $195	+0% $261	+5% $326	+10% $392
Rate	-1.0pp $332	-0.5pp $297	base $261	+0.5pp $224	+1.0pp $186

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	18d	1	0.29mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	25d	1	0.43mi
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	45d	1	0.51mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	45d	1	0.59mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	18d	1	0.64mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	19d	1	0.96mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	25d	1	1.07mi
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	45d	1	1.22mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	45d	1	1.36mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	19d	1	1.45mi

Listing history 29 events

1. 2026-06-21
   days on market $142,500 Active 47 DOM
2. 2026-06-18
   days on market $142,500 Active 44 DOM
3. 2026-06-17
   days on market $142,500 Active 43 DOM
4. 2026-06-15
   days on market $142,500 Active 41 DOM
5. 2026-06-13
   days on market $142,500 Active 39 DOM
6. 2026-06-13
   days on market $142,500 Active 38 DOM
7. 2026-06-09
   days on market $142,500 Active 35 DOM
8. 2026-06-08
   days on market $142,500 Active 34 DOM
9. 2026-06-07
   days on market $142,500 Active 33 DOM
10. 2026-06-04
    days on market $142,500 Active 30 DOM
11. 2026-06-03
    days on market $142,500 Active 29 DOM
12. 2026-06-02
    days on market $142,500 Active 28 DOM
13. 2026-06-01
    days on market $142,500 Active 27 DOM
14. 2026-05-31
    days on market $142,500 Active 26 DOM
15. 2026-05-06
    listed $142,500 Active 1213-char remark

    Show marketing remark (1213 chars)

    Welcome to 7720 E Canfield, a spacious brick colonial offering strong rental stability and long-term investment potential. This well-maintained property features 4 bedrooms and 2 full bathrooms, blending classic Detroit architecture with a functional layout suited for everyday living. Inside, you'll find generous living and dining areas that provide comfortable, open space throughout the main level. The home's traditional colonial design offers well-sized bedrooms and practical flow between rooms, while the full basement adds valuable storage, utility space, and potential for future improvements. Solid brick construction enhances both durability and curb appeal. Currently tenant occupied, this property presents a strong opportunity for investors seeking consistent rental income and a reliable addition to their portfolio. Please do not disturb the tenant. Showings will be permitted after an accepted offer to respect tenant privacy. Possession is subject to tenant rights. Conveniently located near major roadways, neighborhood amenities, and local shopping, the property offers accessibility and continued rental demand within the Detroit market. Buyer to verify all information. Property sold as-is.

16. 2026-05-06
    listed $142,500 Active 1225-char remark

    Show marketing remark (1213 chars)

    Welcome to 7720 E Canfield, a spacious brick colonial offering strong rental stability and long-term investment potential. This well-maintained property features 4 bedrooms and 2 full bathrooms, blending classic Detroit architecture with a functional layout suited for everyday living. Inside, you'll find generous living and dining areas that provide comfortable, open space throughout the main level. The home's traditional colonial design offers well-sized bedrooms and practical flow between rooms, while the full basement adds valuable storage, utility space, and potential for future improvements. Solid brick construction enhances both durability and curb appeal. Currently tenant occupied, this property presents a strong opportunity for investors seeking consistent rental income and a reliable addition to their portfolio. Please do not disturb the tenant. Showings will be permitted after an accepted offer to respect tenant privacy. Possession is subject to tenant rights. Conveniently located near major roadways, neighborhood amenities, and local shopping, the property offers accessibility and continued rental demand within the Detroit market. Buyer to verify all information. Property sold as-is.

17. 2026-05-05
    historical $142,500 1213-char remark

    Show marketing remark (1213 chars)

    Welcome to 7720 E Canfield, a spacious brick colonial offering strong rental stability and long-term investment potential. This well-maintained property features 4 bedrooms and 2 full bathrooms, blending classic Detroit architecture with a functional layout suited for everyday living. Inside, you'll find generous living and dining areas that provide comfortable, open space throughout the main level. The home's traditional colonial design offers well-sized bedrooms and practical flow between rooms, while the full basement adds valuable storage, utility space, and potential for future improvements. Solid brick construction enhances both durability and curb appeal. Currently tenant occupied, this property presents a strong opportunity for investors seeking consistent rental income and a reliable addition to their portfolio. Please do not disturb the tenant. Showings will be permitted after an accepted offer to respect tenant privacy. Possession is subject to tenant rights. Conveniently located near major roadways, neighborhood amenities, and local shopping, the property offers accessibility and continued rental demand within the Detroit market. Buyer to verify all information. Property sold as-is.

18. 2026-04-03
    historical
19. 2026-03-05
    listed $150,000 Active
20. 2026-03-05
    listed $150,000 Active
21. 2026-02-05
    historical Accepting Backup Offers
22. 2026-02-05
    historical Active Under Contract
23. 2026-02-05
    historical
24. 2026-02-05
    historical
25. 2025-11-24
    listed $150,000 Active
26. 2025-11-24
    listed $150,000 Active
27. 2024-01-02
    soldstatus $155,000
28. 2008-09-23
    soldstatus $1,200
29. 2008-06-23
    listed $2,400

ⓘ 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: $2,947 · $246/mo
• Projected year-2 tax: $2,947 · $246/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 ≥96°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: $19,941
• − Mortgage interest: −$7,982
• − Property taxes: −$2,947
• − Insurance: −$712
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$4,145
• Taxable income: $963
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,895/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -367.43%
• Current HPI: 102.0969
• 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

+5837.5% since first listed

15 events — show timeline

• 2026-05-06 Listed $142,500 MiRealSource-MiMLS
• 2026-05-06 Listed $142,500 REALCOMP
• 2026-05-05 Coming Soon $142,500 MiRealSource-MiMLS
• 2026-04-03 Listing Removed — MiRealSource-MiMLS
• 2026-03-05 Listed $150,000 REALCOMP
• 2026-03-05 Listed $150,000 MiRealSource-MiMLS
• 2026-02-05 Contingent — MiRealSource-MiMLS
• 2026-02-05 Contingent — REALCOMP
• 2026-02-05 Listing Removed — MiRealSource-MiMLS
• 2026-02-05 Listing Removed — REALCOMP
• 2025-11-24 Listed $150,000 REALCOMP
• 2025-11-24 Listed $150,000 MiRealSource-MiMLS
• 2024-01-02 Sold (Public Records) $155,000 Public Records
• 2008-09-23 Sold (MLS) $1,200 REALCOMP
• 2008-06-23 Listed $2,400 REALCOMP

Property tax history

+11.1%/yr

Latest (2025): $2,947 · +0.3% YoY. Source: county tax records.