$49,900
9391 Robson St
Detroit, MI 48228
The numbers
Cap rate
18.9%
on asking
Cap @ all-in
11.8%
price + rehab
NOI
$9,451/yr
Cash flow
$788/mo
unlevered
GRM
3.3
Rent / price
2.5%
1% rule
Income & expenses (annual)
- Gross rent
- $15,096
- Vacancy (5%)
- − $755
- Effective gross income
- $14,341
- Property taxes
- − $942
- Insurance
- − $1,080
- Management (10%)est.
- − $1,434
- Maintenance & capex (10%)est.
- − $1,434
- Net operating income
- $9,451
34% expense ratio
Financed scenario
25% down · 7.5% rate · 30-yr · ~2% closing — assumptions, run your own numbers.
- Down payment
- $12,475
- Loan amount
- $37,425
- P&I payment
- $262/mo
- Cash to work the deal
- $43,473
- Cash flow after debt
- $526/mo
- Cash-on-cash
- 14.5%
- DSCR
- 3.01
Spread
$15,100
ARV − all-in
Flip ROI
18.9%
spread / all-in
% of ARV
84%
all-in vs ARV
Price / sqft
$54
ARV / sqft
$102
Rehab / sqft
$32
- Asking price
- $49,900
- Est. rehab
- + $30,000
- All-in
- $79,900
- After-repair value
- $95,000
- Projected spread
- $15,100
Deal terms
- Close method
- Assignment
Property facts
- Property type
- Single Family — Ranch
- Bedrooms
- 3
- Bathrooms
- 1
- Interior
- 931 sqft
- Year built
- 1948
- Occupancy
- Vacant at closing
- ZIP
- 48228
Why this deal
- Section 8 upside to ~$1,500/mo (est., subject to inspection)
- Taxes ~$942/yr — light carry
- Rental-grade scope $20–30k
- Vacant at closing
About this deal
Three-bed ranch in 48228 with the classic Section 8 profile: Zillow rents it at $1,258 and voucher upside runs to roughly $1,500, subject to inspection and rent reasonableness. Rental-grade scope is $20–30k — trash-out, kitchen, bath refresh, flooring, paint, with an aging water heater and HVAC to plan around. Renovated values in the area support $90k–$100k, and taxes are light at about $942 a year. Delinquent tax liens are being cleared and verified through title — confirm in diligence.
Location
9391 Robson St
Detroit, MI 48228