9060 Esper St · Detroit, MI 48204

$85,500

3 bd · 1.0 ba · 1,157 sqft · SingleFamily public records · 38 Days on market

Built 1950 6,534 sqft lot Est $96k · 11% under

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Why this score? — see what drove the B+ 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 +27.0/30.0
• ARV discount +12.4/15.0
• Appreciation +10.0/10.0
• DSCR +9.4/10.0
• 1% rule +8.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

3 bedroom, 1 1/2 bath brick bungalow with a large fenced yard. Sunroom 6 x 11. 2 car garage. Central air. 1/2 bath in basement. Sold "as is. " Subject to Probate Court approval. Quick Court approval. All data & meas are estimates. Buyer/buyers agent to verify all data & meas.

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $83k (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: 244 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 41% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($591 loan paydown + $9k 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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: property tax is 2.8% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,935 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.37% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.06%
• DSCR: 1.54
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $96,031
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8999 Griggs St	0.41mi	3/2.0	1,196 (+3%)	0mo	$190,000	$159	71
8849 Roselawn St	0.24mi	3/1.0	1,015 (-12%)	4mo	$58,000	$57	65
8801 Monica St	0.69mi	3/1.0	1,176 (+2%)	1mo	$120,000	$102	64
10123 Crocuslawn St	0.57mi	3/1.0	1,107 (-4%)	7mo	$104,999	$95	61
10327 Kramer St	0.45mi	3/1.5	1,273 (+10%)	0mo	$133,770	$105	60
8553 Cloverlawn St	0.32mi	3/1.0	1,012 (-12%)	5mo	$84,000	$83	60
10300 Orangelawn St	0.66mi	3/1.0	1,092 (-6%)	4mo	$52,000	$48	56
8294 Northlawn St	0.43mi	3/1.0	998 (-14%)	4mo	$52,000	$52	54
9145 Pinehurst St	0.60mi	3/1.5	1,240 (+7%)	5mo	$66,000	$53	54
8088 Ohio St	0.59mi	3/1.0	1,002 (-13%)	1mo	$83,000	$83	49
9206 Pinehurst St	0.58mi	3/1.5	1,308 (+13%)	3mo	$45,000	$34	47
10340 Maplelawn St	0.72mi	3/2.0	1,296 (+12%)	5mo	$27,000	$21	39

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: 33.2%
• Equity multiple: 3.59×
• Total profit: $61,964
• Equity at exit: $77,025

10-year hold

• IRR: 28.6%
• Equity multiple: 8.12×
• Total profit: $170,569
• Equity at exit: $166,108

Cash invested: $23,940 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$448
• Tax from tax record: −$199 /mo · $2,383/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $241

Break-even live

Break-even rent $864

Max offer price $85,500

Occupancy floor 74%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	24d	1	0.13mi
9353 Kentucky St Detroit, MI	2.0	1.0	800	$999	$1.25	17d	1	0.26mi
8544 Cloverlawn St Detroit, MI	2.0	1.0	800	$800	$1.00	17d	1	0.36mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	16d	1	0.51mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	43d	1	0.51mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.52mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	1d	1	0.56mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	43d	1	0.59mi
10345 Crocuslawn Ave Unit 2 Detroit, MI	2.0	1.0	850	$950	$1.12	43d	1	0.61mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.75mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	43d	1	0.78mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.87mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	43d	1	0.87mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	43d	1	0.98mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	24d	1	0.99mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	43d	1	0.99mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	43d	1	1.08mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	1.10mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.14mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	43d	1	1.15mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.18mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	43d	1	1.19mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	1.21mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	1.22mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	43d	1	1.34mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	24d	1	1.34mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	43d	1	1.41mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	20d	1	1.41mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	1.42mi

Listing history 5 events

1. 2024-12-17
   status Pending
2. 2023-12-23
   status Pending 298-char remark

   Show marketing remark (298 chars)

   3 bedroom, 1 1/2 bath brick bungalow with a large fenced yard. Sunroom 6 x 11. 2 car garage. Central air. 1/2 bath in basement. Sold "as is. " Subject to Probate Court approval. Quick Court approval. All data & meas are estimates. Buyer/buyers agent to verify all data & meas.

3. 2023-12-23
   status Pending

   Show marketing remark (298 chars)

   3 bedroom, 1 1/2 bath brick bungalow with a large fenced yard. Sunroom 6 x 11. 2 car garage. Central air. 1/2 bath in basement. Sold "as is. " Subject to Probate Court approval. Quick Court approval. All data & meas are estimates. Buyer/buyers agent to verify all data & meas.

4. 2023-11-15
   listed $85,500 Active

   Show marketing remark (298 chars)

   3 bedroom, 1 1/2 bath brick bungalow with a large fenced yard. Sunroom 6 x 11. 2 car garage. Central air. 1/2 bath in basement. Sold "as is. " Subject to Probate Court approval. Quick Court approval. All data & meas are estimates. Buyer/buyers agent to verify all data & meas.

5. 2023-11-15
   listed $85,500 Active 298-char remark

   Show marketing remark (298 chars)

   3 bedroom, 1 1/2 bath brick bungalow with a large fenced yard. Sunroom 6 x 11. 2 car garage. Central air. 1/2 bath in basement. Sold "as is. " Subject to Probate Court approval. Quick Court approval. All data & meas are estimates. Buyer/buyers agent to verify all data & meas.

ⓘ 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: $2,383 · $199/mo
• Projected year-2 tax: $2,383 · $199/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,022
• − Mortgage interest: −$4,789
• − Property taxes: −$2,383
• − Insurance: −$428
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$2,487
• Taxable income: $1,692
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $2,481/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+0.0% since first listed

5 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-12-23 Pending — MiRealSource-MiMLS
• 2023-12-23 Pending — REALCOMP
• 2023-11-15 Listed $85,500 MiRealSource-MiMLS
• 2023-11-15 Listed $85,500 REALCOMP

Property tax history

+2.7%/yr

Latest (2025): $2,383 · -40.2% YoY. Source: county tax records.