537 Rosedale Ct · Detroit, MI 48202

$50,000

6 bd · 2.0 ba · 2,074 sqft · MultiFamily public records · 314 Days on market

Built 1910 3,485 sqft lot $24/sqft · 78% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Detroit Land Bank Duplex Opportunity Spacious duplex offering 2,074 square feet of potential! This property features 3 bedrooms and 2 full bathrooms, making it ideal for an investor looking to restore and maximize rental income or a homeowner interested in multi-family living. Located in a growing area of Detroit, this is a great opportunity to add value and bring new life to a classic structure. Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. THIS IS A BUNDLED LISTING AND INCLUDES PROPERTY ADDRESS 545 ROSEDALE COURT. THESE PROPERTIES MUST BE PURCHASED TOGETHER!

Key facts

• 3,485 sq ft lot
• Built 1910
• Listed 314 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $982/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 53.4% vs local median 10.0% 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: 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.
• Zoned schools: Golightly Education Center (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 351 students, 81% FRL); Southeastern High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 644 students, 87% FRL).
• Market conditions: Rents falling (-5.1%/yr); 257 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $3,102/mo this rent would consume 85% of the median local household income ($44k/yr) (locally 1258% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 314 days — a 12% lower offer ($44k) 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: property tax is 4.9% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 314 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 6.20% ✓
• Cap rate: 53.43%
• Cash-on-cash: 168.35%
• DSCR: 8.49
• GRM: 1.3

CMA / ARV

• ARV (median comp): $226,900
• List price: $50,000
• Delta: -77.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 Belmont St	0.21mi	6/2.0	2,121 (+2%)	19mo	$253,200	$119	71
539 Kenilworth St	0.52mi	6/2.0	2,244 (+8%)	4mo	$60,000	$27	59

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.72×
• Total profit: $108,037
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 16.75×
• Total profit: $220,567
• Equity at exit: $4,323

Cash invested: $14,000 (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 48202

• Rents YoY: -5.1%
• Active inventory: 257
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $3,102 high
• Mortgage (P&I): −$262
• Tax from tax record: −$203 /mo · $2,441/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $1,964

Break-even live

Break-even rent $616

Max offer price $50,000

Occupancy floor 32%

Sensitivity live

Price	-10% $2,140	-5% $2,122	+0% $1,964	+5% $1,950	+10% $1,936
Rent	-10% $1,719	-5% $1,842	+0% $1,964	+5% $2,087	+10% $2,209
Rate	-1.0pp $1,989	-0.5pp $1,977	base $1,964	+0.5pp $1,951	+1.0pp $1,938

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,102
Total (2 units)			$3,102

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	3d	1	0.57mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	16d	1	0.57mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	23d	1	1.35mi

Listing history 15 events

1. 2026-06-21
   days on market $50,000 Active 314 DOM
2. 2026-06-18
   days on market $50,000 Active 311 DOM
3. 2026-06-17
   days on market $50,000 Active 310 DOM
4. 2026-06-15
   days on market $50,000 Active 308 DOM
5. 2026-06-13
   days on market $50,000 Active 306 DOM
6. 2026-06-13
   days on market $50,000 Active 305 DOM
7. 2026-06-09
   days on market $50,000 Active 302 DOM
8. 2026-06-08
   days on market $50,000 Active 301 DOM
9. 2026-06-07
   days on market $50,000 Active 300 DOM
10. 2026-06-04
    days on market $50,000 Active 297 DOM
11. 2026-06-03
    days on market $50,000 Active 296 DOM
12. 2026-06-01
    days on market $50,000 Active 294 DOM
13. 2026-05-31
    days on market $50,000 Active 293 DOM
14. 2025-08-11
    listed $50,000 Active 887-char remark

    Show marketing remark (887 chars)

    Detroit Land Bank Duplex Opportunity Spacious duplex offering 2,074 square feet of potential! This property features 3 bedrooms and 2 full bathrooms, making it ideal for an investor looking to restore and maximize rental income or a homeowner interested in multi-family living. Located in a growing area of Detroit, this is a great opportunity to add value and bring new life to a classic structure. Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. THIS IS A BUNDLED LISTING AND INCLUDES PROPERTY ADDRESS 545 ROSEDALE COURT. THESE PROPERTIES MUST BE PURCHASED TOGETHER!

15. 2025-08-11
    listed $50,000 Active 887-char remark

    Show marketing remark (887 chars)

    Detroit Land Bank Duplex Opportunity Spacious duplex offering 2,074 square feet of potential! This property features 3 bedrooms and 2 full bathrooms, making it ideal for an investor looking to restore and maximize rental income or a homeowner interested in multi-family living. Located in a growing area of Detroit, this is a great opportunity to add value and bring new life to a classic structure. Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. THIS IS A BUNDLED LISTING AND INCLUDES PROPERTY ADDRESS 545 ROSEDALE COURT. THESE PROPERTIES MUST BE PURCHASED TOGETHER!

ⓘ 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: $2,441 · $203/mo
• Projected year-2 tax: $2,441 · $203/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,224
• − Mortgage interest: −$2,801
• − Property taxes: −$2,441
• − Insurance: −$250
• − Repairs & maintenance: −$2,978
• − Management: −$2,978
• − Depreciation: −$1,455
• Taxable income: $24,322
• Est. tax owed @ 24.0%: −$5,837
• After-tax cash flow: $17,732/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): 15,780
• Household income: $43,627
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1258.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 60% White 26% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -239.24%
• Current HPI: 145.5509
• Rent YoY: ▼ -5.13%
• 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

+0.0% since first listed

2 events — show timeline

• 2025-08-11 Listed $50,000 REALCOMP
• 2025-08-11 Listed $50,000 MiRealSource-MiMLS

Property tax history

+13.5%/yr

Latest (2025): $2,441 · +0.0% YoY. Source: county tax records.