$79,900
8284 Westwood St
Detroit, MI 48228
The numbers
Cap rate
11.5%
on asking
Cap @ all-in
8.7%
price + rehab
NOI
$9,157/yr
Cash flow
$763/mo
unlevered
GRM
5.1
Rent / price
1.6%
1% rule
Income & expenses (annual)
- Gross rent
- $15,600
- Vacancy (8%)
- − $1,248
- Effective gross income
- $14,352
- Property taxes
- − $1,225
- Insurance
- − $1,100
- Management (10%)est.
- − $1,435
- Maintenance & capex (10%)est.
- − $1,435
- Net operating income
- $9,157
36% expense ratio
Financed scenario
25% down · 7.5% rate · 30-yr · ~2% closing — assumptions, run your own numbers.
- Down payment
- $19,975
- Loan amount
- $59,925
- P&I payment
- $419/mo
- Cash to work the deal
- $46,573
- Cash flow after debt
- $344/mo
- Cash-on-cash
- 8.9%
- DSCR
- 1.82
Property facts
- Property type
- Single Family — Bungalow
- Bedrooms
- 3
- Bathrooms
- 1
- Interior
- 952 sqft
- Lot size
- 5,227 sqft
- Year built
- 1942
- Occupancy
- Vacant at closing
- ZIP
- 48228
Why this deal
- Vacant at closing — off-market
- HVAC and roof reported functional
- Finished basement + 1-car detached garage
- Renovated 3/1 comps $110k–$135k nearby
Comps backing the ARV
8244 Westwood St
3/1, 943 sqft — very close baseline comp
$89,900
8115 Grandville Ave
3/1, 907 sqft — strong close support
$103,000
7805 Warwick St
3/1, 972 sqft — renovated/value support
$115,000
9025 Braile St
3/1, 980 sqft — similar flip proof
$115,000
7403 Patton St
3/1, 960 sqft — strong renovated support
$125,000
8679 Burt Rd
3/1, 981 sqft — strong renovated support
$127,000
9221 Grandville Ave
3/1, 971 sqft — high-end upside support
$135,000
About this deal
Vacant value-add bungalow in 48228 with a 1-car detached garage, finished basement, and vinyl windows — HVAC and roof reported functional, so the scope is mostly cosmetic-to-intermediate ($18–28k for rental-grade, $30–40k for a retail finish). At ask plus $25k of work the basis sits near $105k against renovated 3/1 sales running $110k–$135k on the surrounding blocks. Rents pencil at $1,250–$1,350 — underwritten here at $1,300 with estimated insurance — making this a clean BRRRR, turnkey-hold, or wholetail play. Off-market, delivered vacant at closing.
Location
8284 Westwood St
Detroit, MI 48228