9388 Ward St · Detroit, MI 48228

$100,000

5 bd · 1.5 ba · 1,512 sqft · SingleFamily public records · 3 Days on market

Built 1927 3,920 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Step inside this charming home and discover a property full of possibilities. Offering generous living space and two full kitchens, this home provides a unique layout that can accommodate a variety of living arrangements. Whether you're looking for space for extended family, multi-generational living, or exploring rental income opportunities, this property delivers flexibility rarely found at this price point. Spacious rooms, a full basement, and classic Detroit character create a comfortable place to call home while also presenting strong investment potential. Investors will appreciate the opportunity to add a versatile property to their portfolio, with the potential for owner-occupancy, rental income, or a multi-family-style setup. Conveniently located near major freeways, shopping, dining, and everyday amenities, this property is an excellent opportunity for both homeowners and investors alike.

Key facts

• Versatile property
• Full basement
• Conveniently located

Tags

• TWO FULL KITCHENS
• FULL BASEMENT
• STRONG INVESTMENT POTENTIAL
• VERSATILE PROPERTY
• MULTI-FAMILY-STYLE SETUP
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Ground-level entry with steps
• Construction: Aluminum siding; Brick/mortar foundation; Built above-grade finished area of 1,728 square feet
• Exterior features: Paved road access; Lot approximately 0.09 acre (31 x 126.37)

Interior

• Bathrooms: Three full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).

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; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,738/mo this rent would consume 68% 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 $691 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.74% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $58,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9300 Cheyenne St	0.10mi	4/2.0 (-1)	1,487 (-2%)	8mo	$72,200	$49	79
8860 Appoline St	0.42mi	5/1.5	1,561 (+3%)	4mo	$61,272	$39	72
9169 Ward St	0.21mi	4/1.5 (-1)	1,468 (-3%)	10mo	$10,000	$7	72
9231 Sorrento St	0.15mi	5/2.0	1,389 (-8%)	7mo	$165,000	$119	72
9181 Pinehurst St	0.40mi	4/2.0 (-1)	1,500 (-1%)	12mo	$50,000	$33	63
10054 Littlefield St	0.41mi	5/2.0	1,562 (+3%)	17mo	$60,000	$38	60
9590 Schaefer Hwy	0.29mi	4/1.0 (-1)	1,351 (-11%)	10mo	$50,750	$38	54
9592 Meyers Rd	0.30mi	4/1.0 (-1)	1,428 (-6%)	22mo	$8,000	$6	52
9946 Manor St	0.44mi	4/2.0 (-1)	1,635 (+8%)	10mo	$41,000	$25	50
5801 Oakman Blvd	0.74mi	4/1.5 (-1)	1,451 (-4%)	5mo	$160,000	$110	50
8930 Schaefer Hwy	0.39mi	4/2.0 (-1)	1,400 (-7%)	20mo	$100,000	$71	46
11327 Hartwell St	0.48mi	4/2.0 (-1)	1,728 (+14%)	9mo	$130,000	$75	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: 9.6%
• Equity multiple: 1.36×
• Total profit: $10,167
• Equity at exit: $14,910

10-year hold

• IRR: 15.7%
• Equity multiple: 2.07×
• Total profit: $30,083
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$315 /mo · $3,782/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $492

Break-even live

Break-even rent $1,116

Max offer price $100,000

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	1d	1	1.23mi
8331 Whitcomb St Detroit, MI	4.0	1.0	1342	$1,350	$1.01	22d	1	1.31mi

Listing history 4 events

1. 2026-06-18
   days on market $100,000 Active 3 DOM
2. 2026-06-17
   days on market $100,000 Active 2 DOM
3. 2026-06-15
   remarks 693-char remark

   Show marketing remark (910 chars)

   Step inside this charming home and discover a property full of possibilities. Offering generous living space and two full kitchens, this home provides a unique layout that can accommodate a variety of living arrangements. Whether you're looking for space for extended family, multi-generational living, or exploring rental income opportunities, this property delivers flexibility rarely found at this price point. Spacious rooms, a full basement, and classic Detroit character create a comfortable place to call home while also presenting strong investment potential. Investors will appreciate the opportunity to add a versatile property to their portfolio, with the potential for owner-occupancy, rental income, or a multi-family-style setup. Conveniently located near major freeways, shopping, dining, and everyday amenities, this property is an excellent opportunity for both homeowners and investors alike.

4. 2026-06-15
   listed $100,000 Active 1 DOM

   Show marketing remark (910 chars)

   Step inside this charming home and discover a property full of possibilities. Offering generous living space and two full kitchens, this home provides a unique layout that can accommodate a variety of living arrangements. Whether you're looking for space for extended family, multi-generational living, or exploring rental income opportunities, this property delivers flexibility rarely found at this price point. Spacious rooms, a full basement, and classic Detroit character create a comfortable place to call home while also presenting strong investment potential. Investors will appreciate the opportunity to add a versatile property to their portfolio, with the potential for owner-occupancy, rental income, or a multi-family-style setup. Conveniently located near major freeways, shopping, dining, and everyday amenities, this property is an excellent opportunity for both homeowners and investors alike.

ⓘ 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: $3,782 · $315/mo
• Projected year-2 tax: $3,782 · $315/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: $20,856
• − Mortgage interest: −$5,602
• − Property taxes: −$3,782
• − Insurance: −$500
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$2,909
• Taxable income: $4,727
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $4,767/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

+373.4% since first listed

10 events — show timeline

• 2026-06-15 Listed $100,000 REALCOMP
• 2026-06-15 Listed $100,000 MiRealSource-MiMLS
• 2003-05-02 Sold (Public Records) $80,000 Public Records
• 2002-08-22 Sold (MLS) $11,500 REALCOMP
• 2002-08-22 Sold (MLS) $11,500 MiRealSource-MiMLS
• 2002-08-07 Listing Removed — MiRealSource-MiMLS
• 2002-07-18 Listed $10,000 MiRealSource-MiMLS
• 2002-07-17 Listed $10,000 REALCOMP
• 2000-06-08 Sold (Public Records) $59,000 Public Records
• 1998-09-24 Sold (Public Records) $21,122 Public Records

Property tax history

+8.0%/yr

Latest (2025): $3,782 · +0.6% YoY. Source: county tax records.