3337 Edgewood St · Dearborn, MI 48124

$184,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 45 Days on market

Built 1943 4,792 sqft lot $183/sqft · 14% below area Est $215k · 14% 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 +17.1/30.0
• ARV discount +13.8/15.0
• DSCR +5.3/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check this one investors or 1st timers!! Excellent location on this 3 could be 4 bedroom vinyl sided Bungalow. Full basement, 1.5 baths, thermal pane windows & oversize 2.5 car garage. This one won't see next week. Use LB for EZ showings.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1943

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (5.1% below list).
• Recommended offer: $175k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.3% in Dearborn — 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 80/100 on livability (#84 in MI, #1,904 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, schools D-.
• Dearborn City School District (urban): math 26% / reading 39% proficiency, ranked #325 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.6%/yr); 148 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 45 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $185k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,430 (5.1% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.95% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.99%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (median comp): $214,997
• List price: $184,900
• Delta: -14.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3371 Byrd St	0.06mi	4/1.0 (+1)	1,026 (+2%)	4mo	$230,000	$224	86
4012 Weddell St	0.58mi	3/1.0	1,007 (-0%)	1mo	$220,000	$218	71
3907 Detroit St	0.32mi	3/1.0	1,072 (+6%)	4mo	$155,000	$145	71
3157 Dallas St	0.12mi	2/1.0 (-1)	1,125 (+12%)	2mo	$187,000	$166	68
4445 Bedford St	0.59mi	3/1.0	1,025 (+2%)	4mo	$200,000	$195	66
3201 Croissant St	0.37mi	3/1.0	1,102 (+9%)	3mo	$220,000	$200	65
4630 Pelham Street St	0.73mi	3/1.0	1,000 (-1%)	5mo	$150,000	$150	61
4005 Weddell St	0.56mi	3/1.0	1,087 (+8%)	5mo	$157,000	$144	57
20728 Carlysle St	0.71mi	3/1.0	1,087 (+8%)	2mo	$185,000	$170	52
1600 Hollywood St	0.57mi	2/1.0 (-1)	1,134 (+12%)	5mo	$172,000	$152	44
1421 Hollywood St	0.68mi	3/2.0	1,121 (+11%)	3mo	$251,000	$224	43
4168 Kingston St	0.49mi	2/2.0 (-1)	858 (-15%)	4mo	$135,000	$157	40

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 · 3.57% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-20,724
• Equity at exit: $27,569

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-3,216
• Equity at exit: $15,987

Cash invested: $51,772 (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 48124

• Rents YoY: 3.6%
• Active inventory: 148
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,754 high
• Mortgage (P&I): −$970
• Tax from tax record: −$210 /mo · $2,523/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $129

Break-even live

Break-even rent $1,591

Max offer price $184,900

Occupancy floor 88%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2631 Woodside St Dearborn, MI	3.0	1.0	894	$1,650	$1.85	1d	1	0.23mi
4565 Fleming St Dearborn Heights, MI	3.0	1.0	1200	$1,600	$1.33	10d	1	0.72mi
20728 Carlysle St Dearborn, MI	3.0	1.0	1087	$1,850	$1.70	1d	1	0.73mi
4631 Ziegler St Dearborn Heights, MI	3.0	1.0	1050	$1,650	$1.57	43d	1	0.77mi
4681 Weddell St Dearborn Heights, MI	3.0	1.0	860	$1,600	$1.86	1d	1	0.86mi
4704 Jackson St Dearborn Heights, MI	3.0	1.0	1000	$1,500	$1.50	22d	1	0.86mi
5371 Culver St Dearborn Heights, MI	3.0	1.0	980	$1,450	$1.48	2d	1	1.00mi
5371 Culver St Dearborn Heights, MI	3.0	1.0	980	$1,500	$1.53	11d	1	1.00mi
21337 Audette St Dearborn, MI	3.0	1.0	964	$1,850	$1.92	43d	1	1.04mi
4638 Gertrude St Dearborn Heights, MI	3.0	1.0	1020	$1,700	$1.67	5d	1	1.15mi
4914 Gertrude St Dearborn Heights, MI	2.0	1.0	908	$1,230	$1.35	17d	1	1.21mi
4810 Campbell St Dearborn Heights, MI	3.0	1.0	1000	$1,700	$1.70	1d	1	1.22mi
3620 Monroe St Dearborn, MI	3.0	2.0	1100	$1,800	$1.64	10d	1	1.27mi
4775 Willow Cove Blvd Allen Park, MI	1.0–2.0	1.0	805	$1,649	$2.05	24d	4	1.34mi
4757 Dudley St Dearborn Heights, MI	3.0	1.0	995	$1,350	$1.36	11d	1	1.34mi

Listing history 22 events

1. 2026-06-02
   status $184,900 Pending 45 DOM
2. 2026-06-01
   days on market $184,900 Active 45 DOM
3. 2026-05-31
   days on market $184,900 Active 44 DOM
4. 2026-05-06
   price $184,900 244-char remark

   Show marketing remark (245 chars)

   Check this one investors or 1st timers!! Excellent location on this 3 could be 4 bedroom vinyl sided Bungalow. Full basement, 1.5 baths, thermal pane windows & oversize 2.5 car garage. This one won't see next week. Use LB for EZ showings.

5. 2026-05-06
   price $184,900 245-char remark

   Show marketing remark (245 chars)

   Check this one investors or 1st timers!! Excellent location on this 3 could be 4 bedroom vinyl sided Bungalow. Full basement, 1.5 baths, thermal pane windows & oversize 2.5 car garage. This one won't see next week. Use LB for EZ showings.

6. 2026-04-17
   listed $199,900 Active 244-char remark

   Show marketing remark (245 chars)

   Check this one investors or 1st timers!! Excellent location on this 3 could be 4 bedroom vinyl sided Bungalow. Full basement, 1.5 baths, thermal pane windows & oversize 2.5 car garage. This one won't see next week. Use LB for EZ showings.

7. 2026-04-17
   listed $199,900 Active 245-char remark

   Show marketing remark (245 chars)

   Check this one investors or 1st timers!! Excellent location on this 3 could be 4 bedroom vinyl sided Bungalow. Full basement, 1.5 baths, thermal pane windows & oversize 2.5 car garage. This one won't see next week. Use LB for EZ showings.

8. 2018-09-10
   soldstatus $117,000
9. 2018-08-17
   soldstatus $117,000 Sold
10. 2018-08-17
    soldstatus $117,000 Closed
11. 2018-07-15
    status Pending
12. 2018-07-15
    historical
13. 2018-07-13
    listed $119,900 Active
14. 2018-07-13
    listed $119,900
15. 2013-08-20
    historical
16. 2013-05-20
    listed $1,000
17. 2011-01-07
    soldstatus $62,500
18. 2010-12-03
    soldstatus $62,500
19. 2010-10-07
    listed $69,900
20. 2010-08-18
    soldstatus $38,000
21. 2010-06-28
    listed $42,900
22. 2006-03-06
    soldstatus $107,000

ⓘ 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: $2,523 · $210/mo
• Projected year-2 tax: $2,685 · $224/mo
• Expected delta: +$162/yr (+$14/mo · 6.4%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,052
• − Mortgage interest: −$10,357
• − Property taxes: −$2,523
• − Insurance: −$924
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$5,379
• Taxable loss: −$1,501
• Est. tax savings @ 24.0%: +$360
• After-tax cash flow: $1,907/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: Dearborn City School District
• NCES district ID: 2611600
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $46,884
• Composite: 27.93/100
• National rank: #6864
• State rank: #325 of 540 in MI

Livability — Dearborn

• Score: 80/100
• State rank: #84
• US rank: #1904

Category grades

Amenities D Commute A+ Cost of living A+ Crime C Employment C Housing A+ Health & safety C User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn, MI
• County: Wayne County · 1,562,939 people
• City population: 86,476
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 34,479
• Household income: $81,796
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 444.0

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: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Arabic 12% Spanish 2% Other Indo-European 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: ▼ -278.39%
• Current HPI: 204.5229
• Rent YoY: ▲ 3.57%
• 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

+72.8% since first listed

19 events — show timeline

• 2026-05-06 Price Changed $184,900 MiRealSource-MiMLS
• 2026-05-06 Price Changed $184,900 REALCOMP
• 2026-04-17 Listed $199,900 REALCOMP
• 2026-04-17 Listed $199,900 MiRealSource-MiMLS
• 2018-09-10 Sold (Public Records) $117,000 Public Records
• 2018-08-17 Sold (MLS) $117,000 MiRealSource-MiMLS
• 2018-08-17 Sold (MLS) $117,000 REALCOMP
• 2018-07-15 Pending — REALCOMP
• 2018-07-15 Listing Removed — MiRealSource-MiMLS
• 2018-07-13 Listed $119,900 MiRealSource-MiMLS
• 2018-07-13 Listed $119,900 REALCOMP
• 2013-08-20 Listing Removed — MiRealSource-MiMLS
• 2013-05-20 Listed $1,000 MiRealSource-MiMLS
• 2011-01-07 Sold (Public Records) $62,500 Public Records
• 2010-12-03 Sold (MLS) $62,500 REALCOMP
• 2010-10-07 Listed $69,900 REALCOMP
• 2010-08-18 Sold (MLS) $38,000 REALCOMP
• 2010-06-28 Listed $42,900 REALCOMP
• 2006-03-06 Sold (Public Records) $107,000 Public Records

Property tax history

-2.8%/yr

Latest (2025): $2,523 · -27.8% YoY. Source: county tax records.