9045 Riverdale St · Redford, MI 48239

$225,000

5 bd · 1.5 ba · 2,204 sqft · SingleFamily public records · 62 Days on market

Built 1925 0.38 ac lot $102/sqft · 23% above area Est $267k · 16% under

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Why this score? — see what drove the C 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 +22.6/30.0
• ARV discount +14.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.5/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This roomy 4-bed, 2-bath home sits on a large lot with endless possibilities. The 2-car garage, wide yard, and outdoor space make it ideal for gatherings, projects, or simply enjoying peaceful surroundings. Inside, the layout provides flexibility for living, working, and hosting. Bring your vision - this home needs some TLC but offers strong upside for the right buyer.

Key facts

• 0.38 acre lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• South Redford School District (suburban): math 11% / reading 29% proficiency, ranked #455 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $165k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (median comp): $266,527
• List price: $225,000
• Delta: -15.58%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8128 Grayfield St	0.63mi	5/2.0	2,336 (+6%)	9mo	$255,000	$109	51
8126 Dale St	0.66mi	4/2.0 (-1)	2,088 (-5%)	9mo	$310,000	$148	46
11314 Hazelton	0.69mi	4/2.5 (-1)	2,432 (+10%)	4mo	$240,000	$99	38
8314 Fenton St	0.67mi	6/2.0 (+1)	2,039 (-8%)	20mo	$265,000	$130	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-11,413
• Equity at exit: $33,548

10-year hold

• IRR: 5.1%
• Equity multiple: 1.38×
• Total profit: $23,961
• Equity at exit: $19,454

Cash invested: $63,000 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,355 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$203 /mo · $2,431/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $384

Break-even live

Break-even rent $1,869

Max offer price $225,000

Occupancy floor 79%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-17
   status $225,000 Pending 62 DOM
2. 2026-06-17
   days on market $225,000 Active Under Contract 62 DOM
3. 2026-06-16
   days on market $225,000 Active Under Contract 61 DOM
4. 2026-06-15
   days on market $225,000 Active Under Contract 60 DOM
5. 2026-06-13
   days on market $225,000 Active Under Contract 58 DOM
6. 2026-06-09
   days on market $225,000 Active Under Contract 54 DOM
7. 2026-06-08
   days on market $225,000 Active Under Contract 53 DOM
8. 2026-06-07
   statusdays on market $225,000 Active Under Contract 52 DOM
9. 2026-06-04
   days on market $225,000 Active 49 DOM
10. 2026-06-03
    days on market $225,000 Active 48 DOM
11. 2026-06-02
    days on market $225,000 Active 47 DOM
12. 2026-06-01
    days on market $225,000 Active 46 DOM
13. 2026-05-31
    days on market $225,000 Active 45 DOM
14. 2026-05-18
    price $225,000 371-char remark

    Show marketing remark (375 chars)

    This roomy 4-bed, 2-bath home sits on a large lot with endless possibilities. The 2-car garage, wide yard, and outdoor space make it ideal for gatherings, projects, or simply enjoying peaceful surroundings. Inside, the layout provides flexibility for living, working, and hosting. Bring your vision—this home needs some TLC but offers strong upside for the right buyer.

15. 2026-05-18
    price $225,000 375-char remark

    Show marketing remark (375 chars)

    This roomy 4-bed, 2-bath home sits on a large lot with endless possibilities. The 2-car garage, wide yard, and outdoor space make it ideal for gatherings, projects, or simply enjoying peaceful surroundings. Inside, the layout provides flexibility for living, working, and hosting. Bring your vision—this home needs some TLC but offers strong upside for the right buyer.

16. 2026-04-17
    listed $215,000 Active 371-char remark

    Show marketing remark (375 chars)

    This roomy 4-bed, 2-bath home sits on a large lot with endless possibilities. The 2-car garage, wide yard, and outdoor space make it ideal for gatherings, projects, or simply enjoying peaceful surroundings. Inside, the layout provides flexibility for living, working, and hosting. Bring your vision—this home needs some TLC but offers strong upside for the right buyer.

17. 2026-04-17
    listed $215,000 Active 375-char remark

    Show marketing remark (375 chars)

    This roomy 4-bed, 2-bath home sits on a large lot with endless possibilities. The 2-car garage, wide yard, and outdoor space make it ideal for gatherings, projects, or simply enjoying peaceful surroundings. Inside, the layout provides flexibility for living, working, and hosting. Bring your vision—this home needs some TLC but offers strong upside for the right buyer.

18. 2026-04-13
    historical $215,000 371-char remark

    Show marketing remark (371 chars)

    This roomy 4-bed, 2-bath home sits on a large lot with endless possibilities. The 2-car garage, wide yard, and outdoor space make it ideal for gatherings, projects, or simply enjoying peaceful surroundings. Inside, the layout provides flexibility for living, working, and hosting. Bring your vision - this home needs some TLC but offers strong upside for the right buyer.

19. 2026-04-06
    historical
20. 2026-03-21
    status Active
21. 2026-03-21
    status Active
22. 2026-03-19
    status Pending
23. 2026-03-19
    status Pending
24. 2026-03-19
    historical
25. 2026-03-05
    listed $215,000 Active
26. 2026-03-05
    listed $215,000 Active
27. 2026-03-03
    historical
28. 2021-09-14
    soldstatus $165,395
29. 2021-07-16
    historical
30. 2021-01-31
    status Pending
31. 2021-01-31
    status Pending
32. 2021-01-31
    historical
33. 2021-01-12
    historical Accepting Backup Offers
34. 2021-01-12
    historical Accepting Backup Offers
35. 2020-12-13
    listed $179,000 Active
36. 2020-12-13
    listed $179,000 Active
37. 2020-08-03
    historical
38. 2020-02-27
    status Pending
39. 2020-02-27
    status Pending
40. 2020-02-26
    historical
41. 2019-12-04
    price $180,000
42. 2019-12-04
    price $180,000
43. 2019-09-28
    listed $200,000 Active
44. 2019-09-28
    listed $200,000 Active

ⓘ 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: $2,431 · $203/mo
• Projected year-2 tax: $2,948 · $246/mo
• Expected delta: +$517/yr (+$43/mo · 21.3%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,259
• − Mortgage interest: −$12,603
• − Property taxes: −$2,431
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,261
• − Management: −$2,261
• − Depreciation: −$6,545
• Taxable income: $1,033
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $4,362/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: South Redford School District
• NCES district ID: 2632280
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $52,775
• Composite: 18.1/100
• National rank: #8972
• State rank: #455 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 36,976
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 1%

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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+12.5% since first listed

31 events — show timeline

• 2026-05-18 Price Changed $225,000 MiRealSource-MiMLS
• 2026-05-18 Price Changed $225,000 REALCOMP
• 2026-04-17 Listed $215,000 MiRealSource-MiMLS
• 2026-04-17 Listed $215,000 REALCOMP
• 2026-04-13 Coming Soon $215,000 MiRealSource-MiMLS
• 2026-04-06 Listing Removed — MiRealSource-MiMLS
• 2026-03-21 Relisted — MiRealSource-MiMLS
• 2026-03-21 Relisted — REALCOMP
• 2026-03-19 Pending — MiRealSource-MiMLS
• 2026-03-19 Pending — REALCOMP
• 2026-03-19 Listing Removed — REALCOMP
• 2026-03-05 Listed $215,000 MiRealSource-MiMLS
• 2026-03-05 Listed $215,000 REALCOMP
• 2026-03-03 Coming Soon — MiRealSource-MiMLS
• 2021-09-14 Sold (Public Records) $165,395 Public Records
• 2021-07-16 Listing Removed — REALCOMP
• 2021-01-31 Pending — MiRealSource-MiMLS
• 2021-01-31 Pending — REALCOMP
• 2021-01-31 Listing Removed — MiRealSource-MiMLS
• 2021-01-12 Contingent — MiRealSource-MiMLS
• 2021-01-12 Contingent — REALCOMP
• 2020-12-13 Listed $179,000 MiRealSource-MiMLS
• 2020-12-13 Listed $179,000 REALCOMP
• 2020-08-03 Listing Removed — REALCOMP
• 2020-02-27 Pending — MiRealSource-MiMLS
• 2020-02-27 Pending — REALCOMP
• 2020-02-26 Listing Removed — MiRealSource-MiMLS
• 2019-12-04 Price Changed $180,000 MiRealSource-MiMLS
• 2019-12-04 Price Changed $180,000 REALCOMP
• 2019-09-28 Listed $200,000 MiRealSource-MiMLS
• 2019-09-28 Listed $200,000 REALCOMP

Property tax history

-1.0%/yr

Latest (2025): $2,431 · -65.2% YoY. Source: county tax records.