7169 Holmes St · Detroit, MI 48210

$45,000

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 265 Days on market

Built 1923 3,049 sqft lot $44/sqft · 24% below area Est $59k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This 3-bed, 1-bath property, located in Claytown, is government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

Key facts

• 3,049 sq ft lot
• Built 1923
• Listed 265 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 10.2% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: 94 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 265 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.49% ✓
• Cap rate: 21.65%
• Cash-on-cash: 54.84%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (median comp): $59,337
• List price: $45,000
• Delta: -24.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6125 Proctor St	0.17mi	3/1.0	1,008 (-2%)	2mo	$39,000	$39	88
7545 Holmes St	0.09mi	4/1.0 (+1)	1,008 (-2%)	2mo	$43,000	$43	86
8120 Kirkwood St	0.49mi	3/1.0	1,017 (-1%)	7mo	$125,000	$123	70
7540 Holmes St	0.09mi	3/1.0	1,129 (+10%)	14mo	$30,000	$27	67
7722 Wykes St	0.43mi	3/1.0	1,148 (+12%)	4mo	$40,000	$35	57
6369 Diversey St	0.58mi	3/2.0	1,050 (+2%)	13mo	$77,000	$73	54
5427 Central St	0.67mi	3/1.0	1,102 (+7%)	4mo	$80,000	$73	54
5855 Lonyo St	0.63mi	3/1.0	1,153 (+12%)	5mo	$50,000	$43	46
5641 Elmer St	0.65mi	3/1.0	1,092 (+6%)	18mo	$25,000	$23	44
5865 Elmer St	0.54mi	2/1.0 (-1)	920 (-10%)	17mo	$170,000	$185	38
6404 Belfast St	0.60mi	3/1.0	890 (-13%)	16mo	$85,000	$96	37
6402 Majestic St	0.51mi	4/1.5 (+1)	887 (-14%)	16mo	$142,000	$160	33

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: 53.1%
• Equity multiple: 3.33×
• Total profit: $29,400
• Equity at exit: $6,710

10-year hold

• IRR: 58.3%
• Equity multiple: 6.79×
• Total profit: $72,894
• Equity at exit: $3,891

Cash invested: $12,600 (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 48210

• Home prices YoY: -22.3%
• Active inventory: 94
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,121 high
• Mortgage (P&I): −$236
• Tax from tax record: −$55 /mo · $664/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $576

Break-even live

Break-even rent $393

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $601	-5% $589	+0% $576	+5% $563	+10% $550
Rent	-10% $487	-5% $532	+0% $576	+5% $620	+10% $664
Rate	-1.0pp $599	-0.5pp $587	base $576	+0.5pp $564	+1.0pp $552

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.26mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.87mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	17d	1	0.89mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	0d	1	0.90mi
8544 Cloverlawn St Detroit, MI	2.0	1.0	800	$800	$1.00	18d	1	1.01mi
5440 Milford St Unit 1 Detroit, MI	2.0	1.0	850	$1,150	$1.35	44d	1	1.06mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	24d	1	1.08mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	25d	1	1.18mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	1.27mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	1.30mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	44d	1	1.34mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.39mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	44d	1	1.44mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	22d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $45,000 Active 265 DOM
2. 2026-06-17
   days on market $45,000 Active 264 DOM
3. 2026-06-15
   days on market $45,000 Active 262 DOM
4. 2026-06-13
   days on market $45,000 Active 260 DOM
5. 2026-06-13
   days on market $45,000 Active 259 DOM
6. 2026-06-09
   days on market $45,000 Active 256 DOM
7. 2026-06-08
   days on market $45,000 Active 255 DOM
8. 2026-06-07
   days on market $45,000 Active 254 DOM
9. 2026-06-04
   days on market $45,000 Active 251 DOM
10. 2026-06-03
    days on market $45,000 Active 250 DOM
11. 2026-06-01
    days on market $45,000 Active 248 DOM
12. 2026-05-31
    days on market $45,000 Active 247 DOM
13. 2025-09-27
    listed $45,000 Active 1059-char remark

    Show marketing remark (1065 chars)

    This 3-bed, 1-bath property, located in Claytown, is government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

14. 2025-09-27
    listed $45,000 Active 1065-char remark

    Show marketing remark (1065 chars)

    This 3-bed, 1-bath property, located in Claytown, is government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

15. 2025-09-26
    historical $45,000 1059-char remark

    Show marketing remark (1059 chars)

    This 3-bed, 1-bath property, located in Claytown, is government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

ⓘ 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: $664 · $55/mo
• Projected year-2 tax: $679 · $57/mo
• Expected delta: +$14/yr (+$1/mo · 2.2%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,457
• − Mortgage interest: −$2,521
• − Property taxes: −$664
• − Insurance: −$225
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$1,309
• Taxable income: $6,585
• Est. tax owed @ 24.0%: −$1,580
• After-tax cash flow: $5,330/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
• City population: 572,865
• Population (ZIP): 26,925

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 20% Black 17% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 44% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 2% Danish 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 50% Arabic 10%

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: ▼ -85.82%
• Current HPI: 299.5909
• Rent YoY: —
• Metro: —
• 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

3 events — show timeline

• 2025-09-27 Listed $45,000 MiRealSource-MiMLS
• 2025-09-27 Listed $45,000 REALCOMP
• 2025-09-26 Coming Soon $45,000 MiRealSource-MiMLS

Property tax history

-12.6%/yr

Latest (2017): $664 · -10.7% YoY. Source: county tax records.