10039 Farley · Dearborn Heights, MI 48239

$194,900

3 bd · 1.0 ba · 1,073 sqft · SingleFamily public records · 12 Days on market

Built 1964 5,227 sqft lot $182/sqft · 90% above area Est $205k · at est.

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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 +14.6/30.0
• ARV discount +9.6/15.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BUYERS FINANCING FELL THROUGH, ONE BUYER'S LOSS, ANOTHER BUYER'S GAIN. Move in ready 3 bedroom ranch with the updates buyers actually want. Bright main living space, spacious bedrooms, updated full bath, and a remodeled kitchen with stainless steel appliances. Major improvements already done including newer windows, furnace, water heater, and redone floors so you can move in without the extra expense. Finished basement adds valuable bonus space for a second living area, office, gym, or entertaining. Solid layout, clean condition, and practical living throughout. Convenient location near shopping, dining, and major roads for an easy commute.

Key facts

• 5,227 sq ft lot
• Built 1964
• Listed 12 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Other water source listed; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick and vinyl siding
• Construction: Brick and vinyl siding construction
• Exterior features: Front porch; Fenced yard; Yard shed

Interior

• Kitchen: No specific appliances listed
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans
• Interior features: Gas water heater; Finished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $46 ($558/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 $174k (10.9% below list).
• Recommended offer: $174k (10.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D+, employment D+.
• 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); 192 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y ago 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

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,641 (10.9% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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?
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: 0.89% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

• ARV (median comp): $204,625
• List price: $194,900
• Delta: -4.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9636 Centralia	0.29mi	3/1.0	1,043 (-3%)	4mo	$135,000	$129	79
9964 Norborne	0.30mi	3/1.0	1,033 (-4%)	5mo	$125,900	$122	76
9922 Garfield	0.24mi	3/1.0	1,020 (-5%)	8mo	$175,000	$172	74
10044 Arnold	0.09mi	3/1.0	1,213 (+13%)	9mo	$159,990	$132	67
9938 Royal Grand	0.14mi	3/1.0	1,219 (+14%)	6mo	$197,000	$162	66
9983 Hemingway	0.68mi	3/1.0	1,059 (-1%)	3mo	$149,000	$141	64
11748 Leverne	0.67mi	3/1.5	1,075 (+0%)	4mo	$142,000	$132	63
11751 Marion	0.33mi	3/1.5	1,231 (+15%)	2mo	$141,000	$115	57
9130 Kinloch	0.68mi	3/1.5	1,144 (+7%)	3mo	$123,000	$108	53
9960 Rockland	0.48mi	3/2.0	937 (-13%)	2mo	$150,000	$160	51
11756 Berwyn	0.48mi	2/1.5 (-1)	930 (-13%)	2mo	$167,500	$180	47
24428 W Chicago	0.68mi	2/1.0 (-1)	912 (-15%)	4mo	$95,000	$104	36

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-28,170
• Equity at exit: $29,060

10-year hold

• IRR: -5.2%
• Equity multiple: 0.65×
• Total profit: $-18,859
• Equity at exit: $16,851

Cash invested: $54,572 (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: 192
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,736 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$222 /mo · $2,664/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $46

Break-even live

Break-even rent $1,678

Max offer price $194,900

Occupancy floor 92%

Sensitivity live

Price	-10% $157	-5% $102	+0% $46	+5% $-9	+10% $-64
Rent	-10% $-91	-5% $-22	+0% $46	+5% $115	+10% $184
Rate	-1.0pp $145	-0.5pp $96	base $46	+0.5pp $-4	+1.0pp $-55

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12107 Centralia Redford, MI	3.0	1.0	912	$1,800	$1.97	44d	1	0.54mi
8455 Robindale Ave Dearborn Heights, MI	3.0	1.0	1100	$1,750	$1.59	5d	1	1.03mi
8402 Robindale Ave Dearborn Heights, MI	3.0	1.0	1190	$1,600	$1.34	15d	1	1.07mi
23851 Fullerton Ave Detroit, MI	1.0–2.0	1.0	700	$999	$1.43	44d	1	1.13mi
13231 Hemingway Redford, MI	3.0	1.5	1074	$1,700	$1.58	17d	1	1.30mi
8187 Lenore St Dearborn Heights, MI	2.0	1.0	768	$1,550	$2.02	44d	1	1.34mi
12097 Cavell St Livonia, MI	3.0	1.0	985	$1,200	$1.22	2d	1	1.35mi
11726 Deering St Livonia, MI	4.0	1.5	1248	$2,125	$1.70	0d	1	1.41mi
27201 Canfield St W Dearborn Heights, MI	1.0–2.0	1.0–2.0	852	$1,499	$1.76	2d	22	1.50mi

Listing history 19 events

1. 2026-05-12
   status Pending 648-char remark

   Show marketing remark (648 chars)

   BUYERS FINANCING FELL THROUGH, ONE BUYER'S LOSS, ANOTHER BUYER'S GAIN. Move in ready 3 bedroom ranch with the updates buyers actually want. Bright main living space, spacious bedrooms, updated full bath, and a remodeled kitchen with stainless steel appliances. Major improvements already done including newer windows, furnace, water heater, and redone floors so you can move in without the extra expense. Finished basement adds valuable bonus space for a second living area, office, gym, or entertaining. Solid layout, clean condition, and practical living throughout. Convenient location near shopping, dining, and major roads for an easy commute.

2. 2026-05-12
   status Pending 648-char remark

   Show marketing remark (648 chars)

   BUYERS FINANCING FELL THROUGH, ONE BUYER'S LOSS, ANOTHER BUYER'S GAIN. Move in ready 3 bedroom ranch with the updates buyers actually want. Bright main living space, spacious bedrooms, updated full bath, and a remodeled kitchen with stainless steel appliances. Major improvements already done including newer windows, furnace, water heater, and redone floors so you can move in without the extra expense. Finished basement adds valuable bonus space for a second living area, office, gym, or entertaining. Solid layout, clean condition, and practical living throughout. Convenient location near shopping, dining, and major roads for an easy commute.

3. 2026-05-02
   price $194,900 648-char remark

   Show marketing remark (648 chars)

   BUYERS FINANCING FELL THROUGH, ONE BUYER'S LOSS, ANOTHER BUYER'S GAIN. Move in ready 3 bedroom ranch with the updates buyers actually want. Bright main living space, spacious bedrooms, updated full bath, and a remodeled kitchen with stainless steel appliances. Major improvements already done including newer windows, furnace, water heater, and redone floors so you can move in without the extra expense. Finished basement adds valuable bonus space for a second living area, office, gym, or entertaining. Solid layout, clean condition, and practical living throughout. Convenient location near shopping, dining, and major roads for an easy commute.

4. 2026-05-01
   price $194,900 648-char remark
5. 2026-04-30
   listed $199,900 Active 648-char remark

   Show marketing remark (648 chars)

   BUYERS FINANCING FELL THROUGH, ONE BUYER'S LOSS, ANOTHER BUYER'S GAIN. Move in ready 3 bedroom ranch with the updates buyers actually want. Bright main living space, spacious bedrooms, updated full bath, and a remodeled kitchen with stainless steel appliances. Major improvements already done including newer windows, furnace, water heater, and redone floors so you can move in without the extra expense. Finished basement adds valuable bonus space for a second living area, office, gym, or entertaining. Solid layout, clean condition, and practical living throughout. Convenient location near shopping, dining, and major roads for an easy commute.

6. 2026-04-30
   listed $199,900 Active 648-char remark

   Show marketing remark (648 chars)

   BUYERS FINANCING FELL THROUGH, ONE BUYER'S LOSS, ANOTHER BUYER'S GAIN. Move in ready 3 bedroom ranch with the updates buyers actually want. Bright main living space, spacious bedrooms, updated full bath, and a remodeled kitchen with stainless steel appliances. Major improvements already done including newer windows, furnace, water heater, and redone floors so you can move in without the extra expense. Finished basement adds valuable bonus space for a second living area, office, gym, or entertaining. Solid layout, clean condition, and practical living throughout. Convenient location near shopping, dining, and major roads for an easy commute.

7. 2026-04-07
   historical Accepting Backup Offers
8. 2026-04-07
   historical Active Under Contract
9. 2026-04-07
   historical
10. 2026-04-01
    listed $199,900 Active
11. 2026-04-01
    listed $199,900 Active
12. 2017-01-13
    soldstatus $102,000
13. 2016-12-28
    historical
14. 2016-12-27
    soldstatus $102,000 Sold
15. 2016-12-27
    soldstatus $102,000 Closed
16. 2016-11-03
    status Pending
17. 2016-11-03
    status Pending
18. 2016-10-24
    listed $100,000 Active
19. 2016-10-24
    listed $100,000 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: $2,664 · $222/mo
• Projected year-2 tax: $2,833 · $236/mo
• Expected delta: +$169/yr (+$14/mo · 6.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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: $20,837
• − Mortgage interest: −$10,917
• − Property taxes: −$2,664
• − Insurance: −$974
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$5,670
• Taxable loss: −$2,723
• Est. tax savings @ 24.0%: +$653
• After-tax cash flow: $1,211/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 — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 61,771
• 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

+103.0% since first listed

21 events — show timeline

• 2026-05-27 Sold (MLS) $203,000 REALCOMP
• 2026-05-27 Sold (MLS) $203,000 MiRealSource-MiMLS
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-05-02 Price Changed $194,900 MiRealSource-MiMLS
• 2026-05-01 Price Changed $194,900 REALCOMP
• 2026-04-30 Listed $199,900 REALCOMP
• 2026-04-30 Listed $199,900 MiRealSource-MiMLS
• 2026-04-07 Contingent — MiRealSource-MiMLS
• 2026-04-07 Contingent — REALCOMP
• 2026-04-07 Listing Removed — MiRealSource-MiMLS
• 2026-04-01 Listed $199,900 REALCOMP
• 2026-04-01 Listed $199,900 MiRealSource-MiMLS
• 2017-01-13 Sold (Public Records) $102,000 Public Records
• 2016-12-28 Listing Removed — MiRealSource-MiMLS
• 2016-12-27 Sold (MLS) $102,000 MiRealSource-MiMLS
• 2016-12-27 Sold (MLS) $102,000 REALCOMP
• 2016-11-03 Pending — MiRealSource-MiMLS
• 2016-11-03 Pending — REALCOMP
• 2016-10-24 Listed $100,000 MiRealSource-MiMLS
• 2016-10-24 Listed $100,000 REALCOMP

Property tax history

+5.5%/yr

Latest (2025): $2,664 · +2.7% YoY. Source: county tax records.