8074 Freda St · Detroit, MI 48204

$179,900

3 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 65 Days on market

Built 1931 4,792 sqft lot $131/sqft · 43% above area Est $162k · 11% over

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Why this score? — see what drove the D- 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 +10.3/30.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• DSCR +3.0/10.0
• ARV discount +2.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +1.3/10.0

Listing remarks MLS

Outstanding property, tastefully decorated 3 bedroom colonial with natural fireplace, 1.5 baths and finished rec room in basement. Roof less than 2 years old. Seller is motivated to sale. All measurements approximated. please verify Don't miss out on this one. Seller now will consider FHA \ VA,

Key facts

• Finished rec room
• Natural fireplace
• 4,792 sq ft lot

Tags

• NATURAL FIREPLACE
• FINISHED REC ROOM
• ROOF LESS THAN 2 YEARS OLD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (28.6% below list).
• Recommended offer: $129k (28.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 74% 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 45% 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 $19k of equity ($1k loan paydown + $18k 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.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $180k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,513 (28.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.71% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.34%
• DSCR: 0.90
• GRM: 11.7

CMA / ARV

• ARV (median comp): $162,282
• List price: $179,900
• Delta: 10.86%
• 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
8043 E Morrow Circle St E	0.10mi	3/2.0	1,398 (+2%)	8mo	$155,000	$111	82
5801 Oakman Blvd	0.34mi	4/1.5 (+1)	1,451 (+6%)	5mo	$160,000	$110	64
10327 Kramer St	0.48mi	3/1.5	1,273 (-8%)	0mo	$133,770	$105	63
7741 Miller Rd	0.48mi	4/2.0 (+1)	1,389 (+1%)	7mo	$280,000	$202	61
8908 Birwood St	0.51mi	3/1.5	1,300 (-6%)	8mo	$71,000	$55	58
8130 Ward St	0.66mi	3/1.0	1,278 (-7%)	1mo	$157,000	$123	56
9206 Pinehurst St	0.73mi	3/1.5	1,308 (-5%)	3mo	$45,000	$34	53
8205 Appoline St	0.48mi	3/1.5	1,580 (+15%)	1mo	$105,000	$66	50
8999 Griggs St	0.59mi	3/2.0	1,196 (-13%)	0mo	$190,000	$159	47
9145 Pinehurst St	0.69mi	3/1.5	1,240 (-10%)	5mo	$66,000	$53	45
8875 Manor St	0.61mi	3/1.0	1,176 (-14%)	8mo	$125,000	$106	40
10035 Blesser St	0.72mi	4/1.5 (+1)	1,512 (+10%)	7mo	$227,000	$150	37

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: 22.6%
• Equity multiple: 2.82×
• Total profit: $91,657
• Equity at exit: $162,068

10-year hold

• IRR: 20.2%
• Equity multiple: 6.45×
• Total profit: $274,718
• Equity at exit: $349,506

Cash invested: $50,372 (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: 11.7×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$943
• Tax from tax record: −$95 /mo · $1,142/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-98

Break-even live

Break-even rent $1,410

Max offer price $162,534

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 19 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	0.30mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.32mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	16d	1	0.40mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	0.48mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.67mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	24d	1	0.71mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	43d	1	0.72mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	43d	1	0.95mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	43d	1	1.00mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.01mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	43d	1	1.04mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	43d	1	1.04mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	43d	1	1.14mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	1.25mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	43d	1	1.25mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	24d	1	1.37mi
8114 Marlowe St Unit home Detroit, MI	3.0	1.0	985	$1,350	$1.37	43d	1	1.43mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	43d	1	1.45mi
8212 Lauder St Detroit, MI	3.0	1.0	1026	$1,150	$1.12	43d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $179,900 Active 65 DOM
2. 2026-06-17
   days on market $179,900 Active 64 DOM
3. 2026-06-15
   days on market $179,900 Active 62 DOM
4. 2026-06-13
   days on market $179,900 Active 60 DOM
5. 2026-06-13
   days on market $179,900 Active 59 DOM
6. 2026-06-09
   days on market $179,900 Active 56 DOM
7. 2026-06-08
   days on market $179,900 Active 55 DOM
8. 2026-06-07
   days on market $179,900 Active 54 DOM
9. 2026-06-04
   days on market $179,900 Active 51 DOM
10. 2026-06-03
    days on market $179,900 Active 50 DOM
11. 2026-06-02
    days on market $179,900 Active 49 DOM
12. 2026-06-01
    days on market $179,900 Active 48 DOM
13. 2026-05-31
    days on market $179,900 Active 47 DOM
14. 2026-04-13
    listed $190,000 Active 302-char remark

    Show marketing remark (295 chars)

    Outstanding property, tastefully decorated 3 bedroom colonial with natural fireplace, 1.5 baths and finished rec room in basement. Roof less than 2 years old. Seller is motivated to sale. All measurements approximated. please verify Don't miss out on this one. Seller now will consider FHA \ VA,

15. 2026-04-13
    listed $190,000 Active 295-char remark

    Show marketing remark (295 chars)

    Outstanding property, tastefully decorated 3 bedroom colonial with natural fireplace, 1.5 baths and finished rec room in basement. Roof less than 2 years old. Seller is motivated to sale. All measurements approximated. please verify Don't miss out on this one. Seller now will consider FHA \ VA,

16. 1996-08-27
    soldstatus $69,500

ⓘ 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: $1,142 · $95/mo
• Projected year-2 tax: $1,956 · $163/mo
• Expected delta: +$814/yr (+$68/mo · 71.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $15,422
• − Mortgage interest: −$10,077
• − Property taxes: −$1,142
• − Insurance: −$900
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$5,233
• Taxable loss: −$4,398
• Est. tax savings @ 24.0%: +$1,056
• After-tax cash flow: $-124/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

+173.4% since first listed

3 events — show timeline

• 2026-04-13 Listed $190,000 MiRealSource-MiMLS
• 2026-04-13 Listed $190,000 REALCOMP
• 1996-08-27 Sold (Public Records) $69,500 Public Records

Property tax history

-3.9%/yr

Latest (2025): $1,142 · -39.1% YoY. Source: county tax records.