Sample report
The whole report, on a real house.
This is the Financial Inspection produced for 5077 Grayton St, Detroit, MI, 48224 — an actual listing at an actual asking price, analyzed on 2026-09-15. Nothing here is illustrative and nothing is rounded for presentation. Every figure, every source, and every gap in the record is what the engine produced for that address. Move through the nine tabs to see exactly what arrives.
Real listing5077 Grayton St, Detroit, MI, 48224Wayne County
$215,000Asking price
4Bedrooms
2Bathrooms
2,410Square feet
1930Year built
10Days on market
Single Family · lot 5,455 sq ft · listed 2026-09-05
Source: Redfin listing page for MLS# 26046757 (status Active, $215,000, listed 2026-09-05, 10 days on market), pulled 2026-09-15; corroborated on Zillow for the same MLS number 26046757 (status Active, $215,000), pulled 2026-09-15. Listing agent Shea Hicks-Whitfield, Prep Realty. Provenance caveat: Redfin labels the feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the same MLS number, so the MLS number is stated and the MLS name is not.
The verdict this report reached
ConditionalSpecific named items must resolve first.
Three words are possible on any report: Proceed, Conditional, Walk Away. Proceed means proceed with further due diligence. It is not a recommendation to buy.
Chapter 7
Verdict
- Verdict
- Conditional
The three verdicts
- Proceed
- Conditional
- Walk Away
Specific named items must resolve first.
A verdict describes the strength of this property's records and numbers as found. "Proceed" means proceed with further due diligence. It is not a recommendation to buy, not buy, or transact at any price, and it is not an appraisal or an opinion of value.
Why
- The ask sits within +2.1% of the published third-party estimate.
- Real monthly cost runs 14% above the listing-implied payment.
- Risk flag: Renovation claimed, no permit on file — The listing markets a remodeled house with 1,000 more square feet than the assessor carries, and the City of Detroit's permit system holds no permit of any kind for this parcel — no building, electrical, mechanical or plumbing permit, no plan review, no certificate of occupancy. Neighbouring parcels queried identically do return permits, so this is an absence of permits, not an absence of data.
- Risk flag: Lead paint (built 1930) — Pre-1978 construction (about 87% likelihood cohort, HUD AHHS II) — federal lead disclosure applies; assume present until tested. A 1930 house marketed as remodeled, with no permit record behind the work, is exactly the case where disturbed paint matters.
- Risk flag: Taxable value never uncapped after the 2017 transfer — The roll records a sale on 2017-02-17 yet still carries a 2025 taxable value of $16,143 against a 2025 SEV of $54,000. Under Proposal A a transfer normally uncaps taxable value to SEV the following January 1. Why it did not is an open question for the assessor and is listed in the Data Checklist. What it means for a buyer is that the full uncap is still ahead, not behind.
- Risk flag: Owner of record is not an occupant — The 2025 assessor roll carries homestead_pre 0 — no Principal Residence Exemption — and the taxpayer of record is an LLC rather than a person at this address. The disclosures a long-term occupant could give about the house's systems, its history and what has actually been replaced do not exist here, and the Seller's Disclosure Statement will reflect that.
- Listing claims work with no matching permit in a structural/electrical category — inherited unpermitted work becomes the buyer's problem (insurance, resale, tear-out risk).
What has to resolve first
- Establish the age of 9 major components with no record behind them (worst case $56,000–$101,500 if none has been replaced) — pull the city permit file and put the question to the seller in writing.
- Resolve the permit gap with the city building department before waiving inspection contingencies.
- Review check R2 warning: True monthly cost computed but missing: insurance, utilities — real cost is HIGHER than shown.
- Review check R3 warning: Permit record obtained; 3 reconciliation flag(s) — see Permits section.
True monthly cost$1,584.73
Above the listing-implied payment$196.33
First-year tax change vs the seller's bill$206
The four checks
| # | Status | Check |
|---|---|---|
| R1 | PASS | Post-sale tax computed: MI Proposal A uncap: SEV 54,000 x millage / 1000 -> $3,466/yr (homestead (PRE)). |
| R2 | WARN | True monthly cost computed but missing: insurance, utilities — real cost is HIGHER than shown. |
| R3 | WARN | Permit record obtained; 3 reconciliation flag(s) — see Permits section. |
| R4 | PASS | Price tested against published third-party estimate Zestimate (Zillow), pulled 2026-09-15. Zillow did not publish a low/high range on the page pulled, so none is shown.. |
The four checks are the sign-off discipline every dossier runs through. A declared failure is a finding, not an omission.
Chapter 2
Monthly cost
What the listing implies$1,388.40P&I + the seller's current tax bill + insurance, the portal-calculator view
True monthly cost$1,584.73
- Includes the post-sale tax reset
- Yes
The gap
Per month$196.33
Difference+14%
Per year$2,356
Listing figure against the real figure
| Item | Monthly |
|---|---|
| What the listing implies (P&I + seller's tax + insurance) | $1,388.40 |
| What this home really costs you | $1,584.73 |
| Gap | $196.33 |
| Gap, per year | $2,356 |
What makes up the monthly cost
| Component | Monthly |
|---|---|
| Principal & interest | $1,116.73 |
| Property tax (post-sale, uncapped) | $288.83 |
| Maintenance reserve | $179.17 |
| Total | $1,584.73 |
Not shown in the table above
Homeowners insurance
- Included
- No
Monthly—Not available: homeowners insurance not recorded for this property
PMI (down payment under 20%)
- Included
- No
Monthly—Not available: not applicable: the down payment is 20% or more, so no PMI is charged
Utilities
- Included
- No
Monthly—Not available: utilities not recorded for this property
HOA
- Included
- No
Monthly—Not available: this property's recorded HOA dues are $0
Financing inputs
Down payment20%
Cash down$43,000
Loan amount$172,000
Mortgage rate6.76%Source: FRED MORTGAGE30US, week ending 2026-09-10 (fredgraph.csv, pulled 2026-09-15)
Rate sourceFRED MORTGAGE30US, week ending 2026-09-10 (fredgraph.csv, pulled 2026-09-15)
Term30
| Financing input | Value |
|---|---|
| Down payment | 20% ($43,000) |
| Loan amount | $172,000 |
| Rate | 6.76% (FRED MORTGAGE30US, week ending 2026-09-10 (fredgraph.csv, pulled 2026-09-15)) |
| Term | 30 years |
Five years of owning against renting
Cash out of pocket owning$96,155
Principal paid down$10,516
Owning, net of principal$85,639
Cash out of pocket renting—Not available: no third-party rent estimate was published for this address, so no rent comparison is shownSource: NOT ESTIMATED. No current published rent estimate for this address was obtained, so no rent figure is used anywhere in this report. This report is written for a buyer of the home; if it is to be held as an income property, a current market rent has to be sourced separately. See the Data Checklist.
Owning against renting—Not available: no third-party rent estimate was published for this address, so no rent comparison is shown
tax +3.0%/yr, insurance +5.0%/yr, rent +3.0%/yr; no home-price appreciation credited (unknowable), no selling costs; principal paydown credited as equity
| Item | 5-year total |
|---|---|
| Cash out of pocket owning | $96,155 |
| Less: principal paid down (equity) | −$10,516 |
| Net cost of owning | $85,639 |
| Renting the equivalent home | —Not available: no third-party rent estimate published |
| Owning vs renting | —Not available: no third-party rent estimate published |
Source: NOT ESTIMATED. No current published rent estimate for this address was obtained, so no rent figure is used anywhere in this report. This report is written for a buyer of the home; if it is to be held as an income property, a current market rent has to be sourced separately. See the Data Checklist.
Notes
- The gap is not a rounding error. It is the seller's capped tax bill, the insurance the calculator skipped, and the maintenance every roof eventually demands.
Chapter 2b
Tax reset
Michigan Proposal A: taxable value is capped at the lesser of 5% or inflation each year the owner holds — then UNCAPS to the State Equalized Value (SEV) on January 1 following a transfer. The seller's tax bill tells you what THEY pay, not what YOU will pay.
BasisMI Proposal A uncap: SEV 54,000 x millage / 1000
State equalized value (SEV)$54,000Source: assessor record
Millage, homestead (PRE)64.1844
Millage, non-homestead82.1844
Millage source
Michigan Treasury 2025 rates via site/lib/millage.js -> engine/data/millage.json — Detroit / Detroit City School District: 64.1844 PRE / 82.1844 non-PRE. The SEV (54,000) and the seller's capped taxable value (16,143) are separate assessor records from Detroit Parcels_Current, not from the millage sheet.
Treated as your primary residenceYes
Rate appliedhomestead (PRE)
Seller pays today$3,260Source: assessor / treasurer record
You would pay, homestead (PRE)$3,466
You would pay, non-homestead$4,438
You would pay, as applied$3,466
Increase per year$206
Increase per month$17.16
Increase+6%
Every tax scenario
| Item | Annual tax |
|---|---|
| Seller pays today | $3,260 |
| You will pay — as your primary residence (PRE filed) | $3,466 |
| You would pay — NOT your primary residence | $4,438 |
| Change vs the seller's bill | $206 |
| Per month | $17.16 |
Sources: assessor / treasurer record | Michigan Treasury 2025 rates via site/lib/millage.js -> engine/data/millage.json — Detroit / Detroit City School District: 64.1844 PRE / 82.1844 non-PRE. The SEV (54,000) and the seller's capped taxable value (16,143) are separate assessor records from Detroit Parcels_Current, not from the millage sheet.
Filing deadlines
Principal Residence Exemption (Form 2368)
- Deadline
- June 1 for the summer levy, November 1 for the winter levy
File with the city assessor if you will live here. The PRE vs non-PRE difference above is what missing the deadline costs.
Property Transfer Affidavit (Form 2766)
- Deadline
- within 45 days of closing
The penalty for not filing runs $5/day up to $200.
Current taxable value$16,143Source: assessor record
Chapter 1 and 3
Value & comps
We do not issue our own opinion of value. We collect every published estimate that already exists for this address, put them side by side, and show where the asking price sits among them.
Asking price$215,000
Ask per square foot$89.21
Third-party estimate$210,500
Estimate range, low—Not available: no estimate range published
Estimate range, high—Not available: no estimate range published
Estimate source
Zestimate (Zillow), pulled 2026-09-15. Zillow did not publish a low/high range on the page pulled, so none is shown.
Value implied by the assessment$108,0002 x SEV is the assessor's own implied market value; it is a public record, not our estimateSource: assessor SEV record
Ask against the estimate+2.1%
Ask against the estimate$4,500
Comparable median per square foot—Not available: no comparable asking prices with both a price and a square footage were obtainedSource: published comparable asking prices
Value implied by comparables—Not available: no comparable $/sq ft median, or no square footage for this home
Comparables found0
Every published estimate, side by side
| Source | Figure |
|---|---|
| Asking price | $215,000 |
| Zestimate (Zillow), pulled 2026-09-15. Zillow did not publish a low/high range on the page pulled, so none is shown. | $210,500 (range — – —) |
| Assessor-implied market value (2 x SEV $54,000) | $108,000 |
Sources: Redfin listing page for MLS# 26046757 (status Active, $215,000, listed 2026-09-05, 10 days on market), pulled 2026-09-15; corroborated on Zillow for the same MLS number 26046757 (status Active, $215,000), pulled 2026-09-15. Listing agent Shea Hicks-Whitfield, Prep Realty. Provenance caveat: Redfin labels the feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the same MLS number, so the MLS number is stated and the MLS name is not. | assessor SEV record
Comparable properties
| Address | Asking price | Sq ft | $/sq ft | Distance (mi) | Status / sold |
|---|---|---|---|---|---|
| 5903 Kensington Ave, Detroit (parcel 21072949., ACTIVE ASK — not a closed sale) | $265,000 | —Not available: square footage not published for this comparable | —Not available: price or square footage missing, so $/sq ft cannot be computed | —Not available: distance not recorded | active asking price, verified 2026-09-15; square footage deliberately omitted — the listing claims 4,055 sq ft against an assessor record of 2,498 sq ft, so a $/sq ft figure built on it would rest on an unreconciled number |
| 5919 Yorkshire Rd, Detroit (parcel 21073337., ACTIVE ASK — not a closed sale) | $49,500 | —Not available: square footage not published for this comparable | —Not available: price or square footage missing, so $/sq ft cannot be computed | —Not available: distance not recorded | active asking price, verified 2026-09-15; square footage and condition were not obtained, so no $/sq ft is computed and this parcel is not established as condition-comparable. It is recorded as a nearby ask, nothing more. |
Comparable asking prices as published. Asking prices are not closed sales and are not an opinion of value.
Source: Redfin listing page for MLS# 26046757 (status Active, $215,000, listed 2026-09-05, 10 days on market), pulled 2026-09-15; corroborated on Zillow for the same MLS number 26046757 (status Active, $215,000), pulled 2026-09-15. Listing agent Shea Hicks-Whitfield, Prep Realty. Provenance caveat: Redfin labels the feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the same MLS number, so the MLS number is stated and the MLS name is not.
Price history
| Date | Event | Price |
|---|---|---|
| 2026-09-05 | Listed for sale, MLS# 26046757 (Redfin and Zillow) | $215,000 |
| 2026-09-02 | Coming Soon (Redfin); no price published for this event in the record pulled | —Not available: price not recorded for this listing event |
Source: Redfin listing page for MLS# 26046757 (status Active, $215,000, listed 2026-09-05, 10 days on market), pulled 2026-09-15; corroborated on Zillow for the same MLS number 26046757 (status Active, $215,000), pulled 2026-09-15. Listing agent Shea Hicks-Whitfield, Prep Realty. Provenance caveat: Redfin labels the feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the same MLS number, so the MLS number is stated and the MLS name is not.
Days on market10Source: Redfin listing page for MLS# 26046757 (status Active, $215,000, listed 2026-09-05, 10 days on market), pulled 2026-09-15; corroborated on Zillow for the same MLS number 26046757 (status Active, $215,000), pulled 2026-09-15. Listing agent Shea Hicks-Whitfield, Prep Realty. Provenance caveat: Redfin labels the feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the same MLS number, so the MLS number is stated and the MLS name is not.
Appreciation
This property
Rate—Not available: this parcel's recorded sales chain has fewer than two dated sales, so its own growth rate cannot be measuredSource: this parcel's own deed record
Basis—Not available: not measurable from the recorded sales chain
Against the metro rate—Not available: no metro benchmark or no measurable subject rate, so no comparison is shown
Rate used in projections7.3%
Basis for that ratethe metro rate (this parcel's sales chain was too thin to measure)
- Benchmark is the engine default
- No
| Item | Per year |
|---|---|
| Detroit-Warren-Dearborn metro | 7.3% |
| Michigan | 7.4% |
| United States | 6.8% |
Sources: FHFA All-Transactions House Price Index via FRED ATNHPIUS19804Q, 10-yr CAGR 2016Q2-2026Q2 (149.19 to 302.95), re-pulled 2026-09-15 | FHFA All-Transactions House Price Index via FRED MISTHPI, 10-yr CAGR 2016Q2-2026Q2 (287.39 to 584.90), re-pulled 2026-09-15 | FHFA All-Transactions House Price Index via FRED USSTHPI, 10-yr CAGR 2016Q2-2026Q2 (372.35 to 719.87), re-pulled 2026-09-15
Chapter 4
Big bills
Every major component
| Component | Last done | Typical life | Due | Replacement cost | Status |
|---|---|---|---|---|---|
| Water heater | no record | 11 yrs | unknown | $1,500 – $2,500 | AGE UNKNOWN |
| Central air | no record | 14 yrs | unknown | $5,000 – $8,000 | AGE UNKNOWN |
| Furnace / heating | no record | 18 yrs | unknown | $4,500 – $7,000 | AGE UNKNOWN |
| Roof (asphalt shingle) | no record | 22 yrs | unknown | $12,000 – $18,000 | AGE UNKNOWN |
| Windows | no record | 24 yrs | unknown | $8,000 – $15,000 | AGE UNKNOWN |
| Siding | no record | 32 yrs | unknown | $10,000 – $20,000 | AGE UNKNOWN |
| Driveway (concrete) | no record | 35 yrs | unknown | $6,000 – $10,000 | AGE UNKNOWN |
| Electrical service | no record | 45 yrs | unknown | $3,000 – $6,000 | AGE UNKNOWN |
| Plumbing (supply lines) | no record | 50 yrs | unknown | $6,000 – $15,000 | AGE UNKNOWN |
Sources: component service lives and metro-Detroit replacement cost bands | metro-Detroit contractor replacement cost bands for a home of this size (bands, not quotes)
Components with a documented age
Count0
Replacement cost$0
Components whose age we could establish from the record, due within the full mid-life horizon.
Components with no record
Count9
Replacement cost$56,000 – $101,500
Worst case if none of these has ever been replaced. That is the worst case, not a prediction: closing the gap is a question for the seller and the city.
Due within ten years
Count0
Replacement cost$0
Share of the asking price—Not available: no asking price on record, or no ten-year exposure
Components with an established timeline actually due within ten years.
- Permit record pulled
- Yes
Ages computed as of2026
Notes
- Costs are current metro-Detroit contractor bands for a home of this size, not quotes. Ask the seller, in writing, for the age and any documentation on every line marked past due or due soon.
Chapter 5 and 3
Exit math
Nobody buying a house plans to sell it. Then life happens. This is the exit, computed the same way a closing statement will be.
Cash in$49,450
Down payment$43,000
Closing costs to buy$6,450buyer-side closing costs run 2-5% of price; 3% is the working figure
Agent commission6%
Transfer tax0.86%Source: MCL 207.526 (state 0.75%) + MCL 207.504 (county 0.11%)
Other closing costs$1,000
Break-even2
Growth rate used7.3%
What you would net at sale
| If you sold in | Sale price | Agent commissions (6%) | MI + county transfer tax (0.86%) | Other | Pay off the loan | Your check |
|---|---|---|---|---|---|---|
| 2029 (3 yrs) | $265,903 | −$15,954 | −$2,287 | −$1,000 | −$166,120 | $80,542 |
| 2031 (5 yrs) | $306,370 | −$18,382 | −$2,635 | −$1,000 | −$161,484 | $122,869 |
| 2036 (10 yrs) | $436,570 | −$26,194 | −$3,755 | −$1,000 | −$146,753 | $258,868 |
Equity over time
Growth rate used7.3%
Basis for that ratethe metro rate (this parcel's sales chain was too thin to measure)
| Item | Worth about | You'd still owe | Your equity |
|---|---|---|---|
| 2029 (3 years) | $265,903 | $166,120 | $99,783 |
| 2031 (5 years) | $306,370 | $161,484 | $144,886 |
| 2036 (10 years) | $436,570 | $146,753 | $289,817 |
This is arithmetic on a stated growth rate, not a forecast. Housing markets do not move in straight lines, and no one, including us, can tell you what this house will sell for on a future date. The loan-balance column, by contrast, is fixed by your amortization schedule.
Notes
- Michigan transfer tax is paid by the seller: 0.75% to the state plus 0.11% to the county. Commission is the negotiable line: since the 2024 NAR settlement, nothing fixes it at 6%.
Chapter 6
Records
Permits
- Status
- CHECKED
- Checked
- Yes
Source
City of Detroit BSEED via Detroit Open Data, queried 2026-09-15 on parcel_id '21074217.' across six services: bseed_building_permits (0 records), bseed_trades_permits (0 records — no electrical, mechanical or plumbing permit of any kind, ever), bseed_building_permit_plan_reviews (0), bseed_occupancy_certificates (0), bseed_demolition_permits (0), bseed_presale_inspections (0). The open data carries no final-inspection status and no contractor name; Accela is the manual check for those.
Gaps between the listing and the record
- Claimed floor area vs assessor record (heuristic H1): the listing markets 2,410 sq ft; the Detroit assessor roll carries total_floor_area of 1,410 sq ft. That is a difference of 1,000 sq ft, or 70.9%, against an H1 threshold of more than 10% or more than 150 sq ft — exceeded by roughly a factor of seven. No building permit exists that would account for the difference, so the H1 unpermitted-addition signal is unresolved.
- Renovation claim vs permit record (heuristic H2): the listing describes a "beautifully remodeled" house with "thoughtful updates", and BSEED holds zero building permits, zero electrical permits, zero mechanical permits, zero plumbing permits, zero plan reviews and zero certificates of occupancy for this parcel.
- The zero is a real absence, not a gap in the dataset: two neighbouring parcels queried the same way do return permits (5903 Kensington Ave returns alteration permit RES2022-00064 plus five trades permits; 6127 Grayton St returns MEC2023-00454 and ELE2023-01932).
The city file
| Item | Status | Detail | Source |
|---|---|---|---|
| Assessing record | FOUND | parcel 21074217.; SEV 54,000 (2025); taxable value 16,143 (2025); homestead_pre 0 (no Principal Residence Exemption); tax_status TAXABLE; year built 1930; total floor area 1,410 sq ft; 1 building; is_improved 1; property class 401 RESIDENTIAL-IMPROVED; use code 41310 INCOME BUNGALOW; style Single Family; zoning R1; ECF neighborhood 4R414; NEZ 'English Village North (H064)'. Legal: W GRAYTON 511 AND E 9 FT VAC ALLEY ADJ EASTERN HEIGHTS LAND COS SUB NO 1 L50 P4 PLATS, W C R 21/738 38 X 144. Lot 38 x 144 ft, 0.125 acre, 5,455 sq ft land per the roll. East English Village, Ward 21, Council District 4. | Detroit Open Data Parcels_Current (services2.arcgis.com/qvkbeam7Wirps6zC), pulled 2026-09-15 |
| Building and trades permits (BSEED) | FOUND | Zero records across all six BSEED permit and inspection services for this parcel: building 0, trades 0, plan reviews 0, occupancy certificates 0, demolition 0, presale inspections 0. | Detroit Open Data BSEED services, queried on parcel_id '21074217.' 2026-09-15 |
| Lot size discrepancy | FLAG | The assessor roll carries 5,455 sq ft of land (lot 38 x 144 ft, 0.125 acre); Redfin publishes 5,663 sq ft. The roll figure is used in this report and the portal figure is reported unchanged. The difference is not reconciled. | Detroit Parcels_Current vs Redfin listing page, both pulled 2026-09-15 |
| Certificate of occupancy / presale inspection | FLAG | The City's open data returns no certificate of occupancy and no presale inspection record for this parcel. Nothing in the public file shows the house having been inspected by the City in connection with any of the claimed work, or in connection with a transfer. | Detroit Open Data bseed_occupancy_certificates + bseed_presale_inspections, queried on parcel_id '21074217.' 2026-09-15 |
Sales history
| Date | Price | Event |
|---|---|---|
| 2017-02-17 | $51,600 | Last recorded sale on the Detroit assessor roll (sale_date / sale_price, Parcels_Current). Neither Redfin nor Zillow shows this transaction in its price history — it exists only in the city parcel roll. |
Source: county deed record
Tax and assessment history
| Year | Tax billed | Assessed (SEV) |
|---|---|---|
| 2025 | $3,260 | $54,000 |
| 2024 | $2,373 | $43,100 |
| 2023 | $1,568 | $32,900 |
Sources: assessor / treasurer record | assessor record
Owner of record
Name
An LLC — the current owner of record, a non-owner-occupant holder (the 2025 assessor roll carries homestead_pre 0, no Principal Residence Exemption)
Owner occupiedNo
Years owned9
- Source
- county deed record
Site risk
Flood zoneX
Flood sourceFEMA NFHL MapServer layer 28 point query (42.40589,-82.93256), checked 2026-09-15
| Item | Status | Detail | Source |
|---|---|---|---|
| FEMA flood zone | CLEAR | Zone X — AREA OF MINIMAL FLOOD HAZARD | FEMA NFHL MapServer layer 28 point query (42.40589,-82.93256), checked 2026-09-15 |
| Renovation claimed, no permit on file | FLAG | The listing markets a remodeled house with 1,000 more square feet than the assessor carries, and the City of Detroit's permit system holds no permit of any kind for this parcel — no building, electrical, mechanical or plumbing permit, no plan review, no certificate of occupancy. Neighbouring parcels queried identically do return permits, so this is an absence of permits, not an absence of data. | Detroit Open Data BSEED services, queried on parcel_id '21074217.' 2026-09-15 |
| Lead paint (built 1930) | FLAG | Pre-1978 construction (about 87% likelihood cohort, HUD AHHS II) — federal lead disclosure applies; assume present until tested. A 1930 house marketed as remodeled, with no permit record behind the work, is exactly the case where disturbed paint matters. | year built (assessor roll); EPA/HUD cohort data |
| Taxable value never uncapped after the 2017 transfer | FLAG | The roll records a sale on 2017-02-17 yet still carries a 2025 taxable value of $16,143 against a 2025 SEV of $54,000. Under Proposal A a transfer normally uncaps taxable value to SEV the following January 1. Why it did not is an open question for the assessor and is listed in the Data Checklist. What it means for a buyer is that the full uncap is still ahead, not behind. | Detroit Open Data Parcels_Current (sale_date, taxable_value, assessed_value), pulled 2026-09-15 |
| Owner of record is not an occupant | FLAG | The 2025 assessor roll carries homestead_pre 0 — no Principal Residence Exemption — and the taxpayer of record is an LLC rather than a person at this address. The disclosures a long-term occupant could give about the house's systems, its history and what has actually been replaced do not exist here, and the Seller's Disclosure Statement will reflect that. | Detroit Open Data Parcels_Current (homestead_pre, taxpayer type), queried 2026-09-15 |
| Lead paint | FLAG | Built 1930 (pre-1978): federal disclosure applies; assume lead paint is present until tested. | 42 U.S.C. 4852d (federal lead disclosure rule) |
What the listing claims
- "beautifully remodeled 4-bedroom, 2-bath Tudor" (listing remarks, MLS# 26046757)
- "thoughtful updates" (listing remarks, MLS# 26046757)
- "classic Detroit character" (listing remarks, MLS# 26046757)
- 2,410 sq ft of finished area (listing); the assessor roll carries 1,410 sq ft
Chapter 6b
Negotiation
Everything on this sheet is computed from the record: the replacement-cost bands, the published third-party estimate, and the post-sale tax arithmetic. It is data arranged for the negotiating table. What to offer, and whether to offer at all, stays your call.
What to ask for
| Item | Amount | Where the number comes from |
|---|---|---|
| Price adjustment toward the published third-party estimate | $4,500 | ask $215,000 vs Zestimate (Zillow), pulled 2026-09-15. Zillow did not publish a low/high range on the page pulled, so none is shown. $210,500 |
Where those numbers come from
Documented replacement exposure$0Source: metro-Detroit contractor replacement cost bands
Annual tax increase$206
Ask against the estimate$4,500
Walk-away basis—Not available: no single computed fact rises to a walk-away basis on its own
Every figure here is arithmetic on the published estimates, public records, and cost bands cited elsewhere in this report. None of it is an opinion of value.
Chapter appendix
Data checklist
The credibility of this document is that list. Anything we could not verify is named, with instructions for getting it, rather than guessed at.
Legend
- Found
- We obtained it and it is used above.
- Not available
- It does not exist in any source we can reach.
- Needs a human step
- It exists but needs a human step; the instruction is in the row.
Counts
Items checked33
Found12
Not available4
Needs a human step17
| Category | Item | Status | Source / note |
|---|---|---|---|
| Financial | Asking price + listing details | FOUND | Redfin listing page MLS# 26046757, status Active, $215,000, listed 2026-09-05, pulled 2026-09-15; corroborated on Zillow for the same MLS number |
| Financial | MLS feed name | NOT_AVAILABLE | Redfin labels the source feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the identical MLS number 26046757. It is one listing, but no single MLS name can be stated as verified fact, so only the MLS number is printed. Resolve with the listing agent if it matters. |
| Financial | Independent value estimate (AVM) | FOUND | Zestimate $210,500 (Zillow), pulled 2026-09-15. No published low/high range was available on the page pulled. |
| Financial | Second independent AVM (Redfin Estimate) | MANUAL | Redfin did not publish an Estimate on the page pulled 2026-09-15, which is common while a listing is new. Re-check the Redfin listing page in a week and record the figure with its pull date. |
| Financial | Closed-sale comps (MLS) | NOT_AVAILABLE | No closed comps were obtained. The two nearby figures recorded are ACTIVE ASKING PRICES, not sales, and neither carries a reconciled square footage, so no $/sq ft and no comp-implied value is computed anywhere in this report. Closed comps need MLS access through an agent or a paid data feed. |
| Financial | Rent estimate | NOT_AVAILABLE | No current rent estimate was obtained and none is used anywhere in this report. If the house is to be held as an income property rather than occupied, source a current market rent from an agent or a paid data feed before underwriting it that way. |
| Financial | Mortgage rate benchmark | FOUND | FRED MORTGAGE30US 6.76%, week ending 2026-09-10 (pulled 2026-09-15) |
| Financial | Buyer financing inputs | MANUAL | The 20% down payment used here is a stated convention, not this buyer's plan. Supply the actual down payment, the rate actually quoted (the 6.76% national average is a benchmark, not a quote), and the credit band if the down payment will be under 20% and PMI applies. |
| Taxes | SEV + current taxable value | FOUND | Detroit Open Data Parcels_Current, parcel 21074217. — 2025 SEV $54,000, 2025 taxable value $16,143, homestead_pre 0, pulled 2026-09-15 |
| Taxes | Millage rates (PRE / non-PRE) | FOUND | Michigan Treasury 2025 rates, Detroit / Detroit City School District: 64.1844 PRE / 82.1844 non-PRE |
| Taxes | The two published tax figures DO NOT RECONCILE — get the actual bill | MANUAL | Redfin publishes taxes paid of $3,260 for 2025. The assessor roll's 2025 taxable value of $16,143 at Detroit's 82.1844 non-PRE mills computes to $1,327 for the year, and at 64.1844 PRE mills to $1,036. The published bill is roughly 2.5 times the roll arithmetic. Both figures are reproduced in this report unchanged and neither has been adjusted to fit the other. The seller's bill figure of $3,260 is what the tax-change comparison uses, so that comparison is only as good as that figure. Retrieval: pull the actual 2025 summer and winter bills for parcel 21074217. from the Detroit Treasurer (detroitmi.gov property tax lookup, or by phone) and ask specifically whether the bill includes special assessments or solid-waste charges that the millage arithmetic would not capture. |
| Taxes | Why taxable value did not uncap after the 2017-02-17 sale | MANUAL | A recorded transfer normally uncaps taxable value to SEV the following January 1, yet the 2025 taxable value is still $16,143 against a $54,000 SEV. Ask the City of Detroit Assessor's Office to explain how the 2017 transfer was treated and to confirm in writing what the taxable value will be for the year after this sale closes. This is the single largest open dollar question in the file. |
| Taxes | Buyer occupancy (PRE) intent | MANUAL | This report applies the homestead (PRE) mills, which assumes the buyer will occupy and file Form 2368 by the deadline. The non-homestead figure is shown alongside it. If the buyer will not occupy, the non-homestead figure is the one that applies. |
| Taxes | Delinquent property taxes | MANUAL | https://pta.waynecounty.com/ — Free search by address or parcel — shows delinquency and forfeiture status for all Wayne County municipalities. Run it on parcel 21074217. before any offer. |
| Taxes | NEZ certificate status | MANUAL | The roll carries a Neighborhood Enterprise Zone designation, 'English Village North (H064)'. NEZ tax treatment attaches to a certificate held for a specific parcel and owner and does not automatically pass to a buyer. Confirm with the City of Detroit Assessor whether any NEZ certificate is active on this parcel, and if so what happens to it on transfer. |
| Permits | Building permit history (BSEED open data) | FOUND | Detroit Open Data bseed_building_permits, bseed_trades_permits, bseed_building_permit_plan_reviews, bseed_occupancy_certificates, bseed_demolition_permits and bseed_presale_inspections — all queried on parcel_id '21074217.' 2026-09-15 — 0 records in every one of the six services. Verified as a real absence by running the identical query against 5903 Kensington Ave and 6127 Grayton St, which do return permits. |
| Permits | Listing-sqft vs assessor-sqft mismatch check | FOUND | Listing 2,410 sq ft vs assessor total_floor_area 1,410 sq ft — a difference of 1,000 sq ft, or 70.9%, against a threshold of more than 10% or more than 150 sq ft. No permit on file accounts for the difference. |
| Permits | Confirm the permit record at the counter, not just in open data | MANUAL | The open dataset carries no final-inspection status and no contractor name, and a zero-record result should be confirmed against the source system before it is relied on. Search the address at Accela (aca-prod.accela.com/DETROIT, no login required) and, if the answer matters to the offer, request the property's permit file from BSEED in writing. |
| Permits | What the extra 1,000 sq ft actually is | MANUAL | Nothing in the public record establishes whether the extra area is a finished attic, a finished basement, an addition, or a measurement difference between the assessor and the listing agent. Ask the listing agent in writing how the 2,410 sq ft was derived, and have the inspector measure. Do not assume either figure is correct. |
| City | Certificate of occupancy and presale inspection | MANUAL | The City's open data holds no certificate of occupancy and no presale inspection for this parcel. Ask BSEED directly what is on file for this address, whether a presale inspection or certificate is required for this transfer, and what would be needed to obtain one. Get the answer in writing before waiving contingencies. |
| Title | Deed chain, liens and encumbrances | MANUAL | https://wayne.mi.publicsearch.us/search/advanced — Free name-search index; address and parcel search sit behind the $6 per 15 minutes On-Demand tier. Run it against the parcel and against the owner as named on the current deed, and buy document images only if something needs verification. A full title search at offer is the step that surfaces any encumbrance the open data does not show, and it is not optional on a parcel with no permit record. |
| History | Recorded sale chain | FOUND | Detroit Open Data Parcels_Current — one recorded sale, 2017-02-17 at $51,600 — Neither Redfin nor Zillow shows this transaction in its price history. The one recorded transaction that establishes the current owner's basis exists only in the city parcel roll, which is a plain demonstration of why the public record is pulled directly rather than read off a portal. |
| History | Sales before 2017 | NOT_AVAILABLE | The assessor roll carries only the most recent sale, so no earlier price is on record and this parcel's own long-run appreciation rate cannot be computed from a single point. The report therefore projects on the published metro index rather than on this house's own history. Earlier deeds are obtainable from the Wayne County register of deeds if the chain matters. |
| History | Assessment and tax history | FOUND | Assessed values 2023 $32,900, 2024 $43,100, 2025 $54,000 (Zillow tax-history table; the 2024 and 2025 figures are independently confirmed by the Detroit assessor roll's assessed_value and prior-year fields). Taxes paid 2023 $1,568, 2024 $2,373, 2025 $3,260 (Redfin tax-history table). — Assessment trajectory: +31.0% then +25.3%, or +64.1% over two years, all of it while the taxable value stayed capped. |
| History | Prior insurance claims (CLUE) | MANUAL | Only the owner can order a CLUE report. Ask the seller for the CLUE Home Seller's Disclosure Report, or make the offer contingent on it. Worth pressing here: a 1930 house marketed as remodeled with no permit record behind any of the work. |
| History | Seller's disclosure statement | MANUAL | Michigan requires a Seller's Disclosure Statement on most residential resales. A seller that has never occupied the house will disclose little, but the form is still the document that puts the renovation and square-footage questions on the record in writing. Request it and read what it does not say. |
| Costs | Insurance quote | MANUAL | NOT ESTIMATED and deliberately excluded from every figure in this report, so the real monthly cost shown is understated by the whole insurance line. Get a real bindable quote. Tell the carrier the truth about the property: built 1930, no permit record for any electrical, plumbing or mechanical work, and no certificate of occupancy on file — each of those can change the premium or the carrier's willingness to write it at all. |
| Costs | Utilities baseline | MANUAL | NOT ESTIMATED and excluded from every figure here, so the real monthly cost is understated by the whole utilities line as well. Ask the seller for 12 months of DTE Energy history for the address. A 1930 house with no mechanical permit on record has an unknown heating system of unknown efficiency. |
| Costs | Maintenance reserve basis | FOUND | Stated convention, not a property-specific figure: 1.0% of purchase price per year. It is a modelling assumption and is labelled as one. For a 1930 house with no permit history behind any major component, treat it as a floor. |
| Costs | HOA | MANUAL | Entered as zero. Zoning is R1 single family and no association fee appears in the listing, but absence from a listing is not proof of absence. Confirm with the listing agent and at title. |
| Risk | FEMA flood zone | FOUND | FEMA NFHL MapServer layer 28 point query (42.40589,-82.93256), checked 2026-09-15 — Zone X, area of minimal flood hazard |
| Risk | Lead paint | FOUND | Pre-1978 rule applied (built 1930); federal lead disclosure required. Assume lead paint is present until a certified test says otherwise, and treat any surface disturbed by the claimed remodel as the place to test first. |
| Risk | Professional inspection | MANUAL | Nothing in this report is a physical inspection and no part of it substitutes for one. Given zero permits behind a claimed full remodel, a licensed inspector plus a separate licensed electrician's opinion on the panel and the wiring is the minimum before waiving contingencies. |
Behind every tab
Where the figures came from.
34 sources stand behind this one address. They ship inside the report, not as a footnote, because a number you cannot trace is a number you cannot use at a negotiating table.
- ListingRedfin listing page for MLS# 26046757 (status Active, $215,000, listed 2026-09-05, 10 days on market), pulled 2026-09-15; corroborated on Zillow for the same MLS number 26046757 (status Active, $215,000), pulled 2026-09-15. Listing agent Shea Hicks-Whitfield, Prep Realty. Provenance caveat: Redfin labels the feed 'SW Michigan MLS' and Zillow labels it 'MichRIC' for the same MLS number, so the MLS number is stated and the MLS name is not.
- Third-party value estimateZestimate (Zillow), pulled 2026-09-15. Zillow did not publish a low/high range on the page pulled, so none is shown.
- Rent estimateNOT ESTIMATED. No current published rent estimate for this address was obtained, so no rent figure is used anywhere in this report. This report is written for a buyer of the home; if it is to be held as an income property, a current market rent has to be sourced separately. See the Data Checklist.
- MillageMichigan Treasury 2025 rates via site/lib/millage.js -> engine/data/millage.json — Detroit / Detroit City School District: 64.1844 PRE / 82.1844 non-PRE. The SEV (54,000) and the seller's capped taxable value (16,143) are separate assessor records from Detroit Parcels_Current, not from the millage sheet.
- Mortgage rate benchmarkFRED MORTGAGE30US, week ending 2026-09-10 (fredgraph.csv, pulled 2026-09-15)
- Insurance basisNOT ESTIMATED. No quote was obtained for this property and no published figure specific to it exists, so no number is entered. Both the listing-implied payment and the real monthly cost below therefore exclude insurance; the real cost is higher than shown. See the Data Checklist.
- Permit recordCity of Detroit BSEED via Detroit Open Data, queried 2026-09-15 on parcel_id '21074217.' across six services: bseed_building_permits (0 records), bseed_trades_permits (0 records — no electrical, mechanical or plumbing permit of any kind, ever), bseed_building_permit_plan_reviews (0), bseed_occupancy_certificates (0), bseed_demolition_permits (0), bseed_presale_inspections (0). The open data carries no final-inspection status and no contractor name; Accela is the manual check for those.
- FEMA flood zoneFEMA NFHL MapServer layer 28 point query (42.40589,-82.93256), checked 2026-09-15
- Appreciation: Detroit-Warren-Dearborn metroFHFA All-Transactions House Price Index via FRED ATNHPIUS19804Q, 10-yr CAGR 2016Q2-2026Q2 (149.19 to 302.95), re-pulled 2026-09-15
- Appreciation: MichiganFHFA All-Transactions House Price Index via FRED MISTHPI, 10-yr CAGR 2016Q2-2026Q2 (287.39 to 584.90), re-pulled 2026-09-15
- Appreciation: United StatesFHFA All-Transactions House Price Index via FRED USSTHPI, 10-yr CAGR 2016Q2-2026Q2 (372.35 to 719.87), re-pulled 2026-09-15
- Municipal: Assessing recordDetroit Open Data Parcels_Current (services2.arcgis.com/qvkbeam7Wirps6zC), pulled 2026-09-15
- Municipal: Building and trades permits (BSEED)Detroit Open Data BSEED services, queried on parcel_id '21074217.' 2026-09-15
- Municipal: Lot size discrepancyDetroit Parcels_Current vs Redfin listing page, both pulled 2026-09-15
- Municipal: Certificate of occupancy / presale inspectionDetroit Open Data bseed_occupancy_certificates + bseed_presale_inspections, queried on parcel_id '21074217.' 2026-09-15
- Risk: FEMA flood zoneFEMA NFHL MapServer layer 28 point query (42.40589,-82.93256), checked 2026-09-15
- Risk: Renovation claimed, no permit on fileDetroit Open Data BSEED services, queried on parcel_id '21074217.' 2026-09-15
- Risk: Lead paint (built 1930)year built (assessor roll); EPA/HUD cohort data
- Risk: Taxable value never uncapped after the 2017 transferDetroit Open Data Parcels_Current (sale_date, taxable_value, assessed_value), pulled 2026-09-15
- Risk: Owner of record is not an occupantDetroit Open Data Parcels_Current (homestead_pre, taxpayer type), queried 2026-09-15
- Checklist: Asking price + listing detailsRedfin listing page MLS# 26046757, status Active, $215,000, listed 2026-09-05, pulled 2026-09-15; corroborated on Zillow for the same MLS number
- Checklist: Independent value estimate (AVM)Zestimate $210,500 (Zillow), pulled 2026-09-15. No published low/high range was available on the page pulled.
- Checklist: Mortgage rate benchmarkFRED MORTGAGE30US 6.76%, week ending 2026-09-10 (pulled 2026-09-15)
- Checklist: SEV + current taxable valueDetroit Open Data Parcels_Current, parcel 21074217. — 2025 SEV $54,000, 2025 taxable value $16,143, homestead_pre 0, pulled 2026-09-15
- Checklist: Millage rates (PRE / non-PRE)Michigan Treasury 2025 rates, Detroit / Detroit City School District: 64.1844 PRE / 82.1844 non-PRE
- Checklist: Delinquent property taxeshttps://pta.waynecounty.com/
- Checklist: Building permit history (BSEED open data)Detroit Open Data bseed_building_permits, bseed_trades_permits, bseed_building_permit_plan_reviews, bseed_occupancy_certificates, bseed_demolition_permits and bseed_presale_inspections — all queried on parcel_id '21074217.' 2026-09-15
- Checklist: Deed chain, liens and encumbranceshttps://wayne.mi.publicsearch.us/search/advanced
- Checklist: Recorded sale chainDetroit Open Data Parcels_Current — one recorded sale, 2017-02-17 at $51,600
- Checklist: Assessment and tax historyAssessed values 2023 $32,900, 2024 $43,100, 2025 $54,000 (Zillow tax-history table; the 2024 and 2025 figures are independently confirmed by the Detroit assessor roll's assessed_value and prior-year fields). Taxes paid 2023 $1,568, 2024 $2,373, 2025 $3,260 (Redfin tax-history table).
- Checklist: FEMA flood zoneFEMA NFHL MapServer layer 28 point query (42.40589,-82.93256), checked 2026-09-15 — Zone X, area of minimal flood hazard
- Component service lives and replacement costsStandard trade service lives; 2026 metro-Detroit contractor replacement cost bands for a 1,200-1,800 sq ft single-family home
- Michigan transfer taxMCL 207.526 (state 0.75%) + MCL 207.504 (county 0.11%)
- Michigan tax uncappingMCL 211.27a (Proposal A)
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How to read this document
- What the verdicts mean. Proceed — the records and numbers as found support moving to the next stage of due diligence. Conditional — specific named items must resolve first. Walk Away — the numbers or the record as found do not support the asking price. None of these is a recommendation to buy, not buy, or transact at any price.
- This is not a valuation. We do not issue an opinion of value. Every value figure is a third-party published estimate or a public assessment record, reproduced with its source, and the only thing we add is arithmetic. This report is not an appraisal and may not be used as one.
- This is not an inspection, title search, survey, legal opinion, or lending advice, and it does not replace any of them. No one from our team entered or physically examined the property.
- The forward-looking tabs are arithmetic on stated assumptions, not predictions. Growth rates, component lifespans, and cost bands are labeled where they appear. Actual results will differ.
- Michigan tax figures use Proposal A uncapping (taxable value resets to the state equalized value on the January 1 following a transfer, MCL 211.27a) and the current published millage. Your actual bill depends on the assessor's next SEV determination and any millage changes approved by voters.
- We are paid the same whether you buy this house or walk away from it. We receive no commission, referral fee, or compensation from any party to this transaction.
- Financial Inspection by DealAssay. Questions: support@dealassay.com | (313) 288-9974.
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Under MCL 339.2501(u) a paid market analysis is broker activity, and under MCL 339.2601/2607 a paid opinion, conclusion, or analysis relating to the value of real property is appraisal activity. This report therefore never states an original opinion of value: it reproduces what third parties already publish, does arithmetic on those published figures, and frames the verdict as due-diligence screening.
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