Is 24445 Edwin Dr in Brownstown, MI a good investment?

CashFlowRE grades it B+ with a 16.3% cap rate and $783/mo modeled cash flow at a $94,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 24445 Edwin Dr?

The modeled cap rate is 16.3% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,813/month, from CashFlowRE's rent model.

B+ Composite 77.55

Why this score? — see what drove the B+ 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 +30.0/30.0
ARV discount +15.0/15.0
1% rule +10.0/10.0
DSCR +10.0/10.0
Schools +3.8/10.0
Condition / age +3.8/5.0
Rent growth +2.5/5.0
Livability +2.5/5.0
Appreciation +0.0/10.0

$94,000

24445 Edwin Dr · Brownstown, MI 48134

4 bd · 2.0 ba · 1,568 sqft · SingleFamily · 159 Days on market

Built 2017 Good condition 4,356 sqft lot $60/sqft · 23% below area Est $122k · 23% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Spacious 4-Bedroom Manufactured Home in Desirable Tanglewood Village Community Welcome home to this beautifully maintained, newer 4-bedroom manufactured home in the highly sought-after Tanglewood Village community Step inside to a huge living room that flows seamlessly into the formal dining area and expansive island kitchen. The massive kitchen island is a true centerpiece, featuring rich mocha cabinets, abundant storage, and stainless steel appliances - ideal for both everyday meals and entertaining guests. The primary suite has a large walk-in closet and a luxurious bathroom with a double vanity, open shelving, additional drawer storage, a big linen closet, a relaxing soaker tub, and a separate oversized shower. Three additional generously sized bedrooms share a second full bath, providing plenty of space for family, guests, or home offices. Additional highlights include nicely landscaped lot, a large covered patio perfect for outdoor dining and relaxation, a shed for storage and parking for three cars This all-ages manufactured home community offers a peaceful, active lifestyle with gorgeous natural surroundings, mature trees, and scenic ponds. Residents enjoy outstanding amenities including a sparkling outdoor swimming pool with sundeck, a spacious clubhouse for gatherings and events, a children's playground, sidewalks throughout, and pet-friendly policies that make it easy for the whole family (including furry members) to thrive. Conveniently located just 23 miles south of downtown Detroit, you'll benefit from easy access to excellent local schools, shopping, dining, parks, and major highways - giving you the perfect balance of community charm and suburban convenience. Schedule your private showing today and discover why Tanglewood Village is Brownstown's most desirable manufactured home community!

Key facts

Huge living room
Rich mocha cabinets
4,356 sq ft lot

What this means for you Summary

Snapshot

This is a 4-bed/2.0-bath single-family listed at $94k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $783 ($9k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $94k).
Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
Cap rate 16.3% vs local median 3.3% in Brownstown — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
Woodhaven-Brownstown School District (suburban): math 32% / reading 49% proficiency, ranked #189 of 540 in MI (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Erving Elementary School (math 22% / reading 37%, grade F, #866 of 1,397 statewide, top 65%, 496 students, 54% FRL); Brownstown Middle School (math 30% / reading 45%, grade F, #243 of 493 statewide, top 50%, 815 students, 53% FRL); Woodhaven High School (math 33% / reading 61%, grade D-, #187 of 713 statewide, top 29%, 1,203 students, 41% FRL) — zoned schools average 49% FRL vs 34% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $650 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

It's been on market 159 days — a 12% lower offer ($83k) 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.

Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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.
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.
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: 1.93% ✓
Cap rate: 16.29%
Cash-on-cash: 35.70%
DSCR: 2.59
GRM: 4.3

CMA / ARV

ARV (median comp): $121,769
List price: $94,000
Delta: -22.80%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24321 Kingston Cir	0.08mi	3/2.0 (-1)	1,568 (0%)	16mo	$69,500	$44	78
25182 Frontier Cir	0.63mi	3/2.0 (-1)	1,568 (0%)	5mo	$50,000	$32	61
25211 Canyon Cir	0.58mi	3/2.0 (-1)	1,500 (-4%)	20mo	$42,800	$29	44
24401 Christian Dr	0.68mi	3/3.5 (-1)	1,726 (+10%)	1mo	$351,000	$203	40
24821 Cherokee	0.41mi	3/2.0 (-1)	1,736 (+11%)	24mo	$40,000	$23	38
24401 Christian Dr	0.68mi	3/3.5 (-1)	1,726 (+10%)	12mo	$331,000	$192	31
24508 Mt. Olive Dr	0.72mi	3/2.0 (-1)	1,800 (+15%)	24mo	$295,000	$164	17

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 · 3.0% rent growth · sell at horizon

5-year hold

IRR: 31.4%
Equity multiple: 2.32×
Total profit: $34,668
Equity at exit: $14,016

10-year hold

IRR: 38.5%
Equity multiple: 4.59×
Total profit: $94,518
Equity at exit: $8,127

Cash invested: $26,320 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 4 active · 8 under contract
Months of supply: 3.0 mo (33%/mo absorbed)
Median asking: $87,000 ($58/sqft)
Median days on market: 73 d
This list price: 75% of active listings are priced below it
ARV vs active asking: +34.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48134

Active inventory: 161
Price-to-rent: 4.3×

Monthly cashflow live

Estimated rent: $1,813 medium interval (Pro) →
Mortgage (P&I): −$493
Tax est. 1.5%: −$118 /mo · $1,410/yr
Insurance: −$39
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$381
Net cashflow: $783

Break-even live

Break-even rent $822

Max offer price $94,000

Occupancy floor 52%

Sensitivity live

Price	-10% $848	-5% $816	+0% $783	+5% $751	+10% $718
Rent	-10% $640	-5% $711	+0% $783	+5% $855	+10% $926
Rate	-1.0pp $830	-0.5pp $807	base $783	+0.5pp $759	+1.0pp $734

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: $23,500
Closing costs: $2,820
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23501 Van Horn Rd Woodhaven, MI	3.0	2.0	1216	$1,329	$1.09	32d	1	0.54mi

Property features AI

Finance

Other: Private maintained, paved road frontage on a private roadLot roughly 0.1 acre (50 x 100)Community in-ground outdoor pool
HOA & community: Community poolClubhouseFitness centerSidewalks

Exterior

Parking: No garageParking padAssigned parking
Security: Smoke detectors
Utilities: Public waterPublic sewerElectric with circuit breakers and 220 voltsCable availableUnderground utilities
Home design: Single-family residenceOne levelGround-level entry with stepsVinyl siding
Construction: Vinyl siding exteriorAsphalt roofPillar/post/pier foundationBuilt on one level
Exterior features: PatioPorchShed

Interior

Kitchen: DishwasherFree-standing gas rangeFree-standing refrigeratorMicrowave
Bathrooms: 2 full bathrooms
Heating & cooling: Forced air heating (natural gas)No central air conditioning
Interior features: DishwasherDryerFree-standing gas rangeFree-standing refrigeratorMicrowaveWasherSmoke detector(s)
Laundry & utility: Dedicated laundry roomWasher and dryer included

Listing history 50 events

2026-11-08

days on market $94,000 Active 159 DOM
2026-11-07

days on market $94,000 Active 158 DOM
2026-11-06

days on market $94,000 Active 157 DOM
2026-11-05

days on market $94,000 Active 156 DOM
2026-11-04

days on market $94,000 Active 155 DOM
2026-11-02

days on market $94,000 Active 153 DOM
2026-11-01

days on market $94,000 Active 152 DOM
2026-10-31

days on market $94,000 Active 151 DOM
2026-10-30

days on market $94,000 Active 150 DOM
2026-10-29

days on market $94,000 Active 149 DOM
2026-10-28

days on market $94,000 Active 148 DOM
2026-10-27

days on marketlisting id $94,000 Active 147 DOM
2026-10-26

days on market $94,000 Active 146 DOM
2026-10-25

days on market $94,000 Active 145 DOM
2026-10-24

days on market $94,000 Active 144 DOM
2026-10-23

days on market $94,000 Active 143 DOM
2026-10-22

days on market $94,000 Active 142 DOM
2026-10-21

days on market $94,000 Active 141 DOM
2026-10-20

days on market $94,000 Active 140 DOM
2026-10-19

days on market $94,000 Active 139 DOM
2026-10-18

days on market $94,000 Active 138 DOM
2026-10-17

days on market $94,000 Active 137 DOM
2026-10-16

days on market $94,000 Active 136 DOM
2026-10-15

days on market $94,000 Active 135 DOM
2026-10-14

days on market $94,000 Active 134 DOM
2026-10-13

days on market $94,000 Active 133 DOM
2026-10-12

days on market $94,000 Active 132 DOM
2026-10-11

days on market $94,000 Active 131 DOM
2026-10-10

days on market $94,000 Active 130 DOM
2026-10-09

days on market $94,000 Active 129 DOM
2026-10-08

days on market $94,000 Active 128 DOM
2026-10-07

days on market $94,000 Active 127 DOM
2026-10-06

days on market $94,000 Active 126 DOM
2026-10-05

days on market $94,000 Active 125 DOM
2026-10-04

days on market $94,000 Active 124 DOM
2026-10-03

days on market $94,000 Active 123 DOM
2026-10-02

days on market $94,000 Active 122 DOM
2026-10-01

days on market $94,000 Active 121 DOM
2026-09-30

days on market $94,000 Active 120 DOM
2026-09-29

days on market $94,000 Active 119 DOM
2026-09-28

days on market $94,000 Active 118 DOM
2026-09-27

days on market $94,000 Active 117 DOM
2026-09-25

days on market $94,000 Active 115 DOM
2026-09-24

days on market $94,000 Active 114 DOM
2026-09-23

days on market $94,000 Active 113 DOM
2026-09-22

days on market $94,000 Active 112 DOM
2026-09-21

days on market $94,000 Active 111 DOM
2026-09-20

days on market $94,000 Active 110 DOM
2026-09-19

days on market $94,000 Active 109 DOM
2026-09-18

days on market $94,000 Active 108 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $21,762
− Mortgage interest: −$5,265
− Property taxes: −$1,410
− Insurance: −$470
− Repairs & maintenance: −$1,741
− Management: −$1,741
− Depreciation: −$2,735
Taxable income: $8,400

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$2,016
After-tax cash flow: $7,381/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $7,840–$23,520 screening

This well-maintained, modern manufactured home in Tanglewood Village offers a spacious layout with good condition and potential for further value enhancement through minor updates.

Value-add opportunities

Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and appeal ↑
Both Replace carpet with hardwood flooring — Hardwood flooring is more durable and can increase both resale and rental value ↑
Resale Install modern lighting fixtures — Modern lighting can enhance the home's curb appeal and interior aesthetics ↑
Both Add a smart home system — A smart home system can improve energy efficiency and add value for both buyers and renters ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Erving Elementary School F MI #866/1,397 Nat'l #26,716/41,679 Middle Brownstown Middle School F MI #243/493 Nat'l #6,708/14,009 High Woodhaven High School D- MI #187/713 Nat'l #6,330/17,239

Schools (NCES district)

District: Woodhaven-Brownstown School District
NCES district ID: 2636485
Math proficiency: 32% ▼ -11.00%
Reading proficiency: 49% ▼ -7.00%
Median HH income: $58,200
Composite: 35.63/100
National rank: #4885
State rank: #189 of 540 in MI

Livability — Brownstown

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

Census & demographics

County: Wayne County · 1,675,273 people
Metro: Detroit-Warren-Dearborn, MI
Population (ZIP): 23,935
Household income: $92,076
Rent vs Own: 15.7% rent · 84.3% own
Severe rent burden: 7% of renters

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 (77%)
Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Black 8%
Hispanic origin (detail): Mexican 6%
Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -223.42%
Current HPI: 232.7533
Rent YoY: —
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
#249 Lear Southfield $23.5B #250 BorgWarner Auburn Hills $14.2B #306 Autolivery Auburn Hills $10.4B
Automotive	2	$372B
#18 General Motors Detroit $187.4B #19 Ford Motor Dearborn $185.0B
Chemicals	1	$45B
#102 Dow Midland $44.6B
Automotive Retail	1	$29B
#225 Penske Automotive Group Bloomfield Hills $29.4B
Healthcare / Medical Devices	1	$23B
#156 Stryker Kalamazoo $22.6B
Automotive Technology	1	$20B
#341 Aptiv Dublin $19.8B

Price history

+0.0% since first listed

2 events — show timeline

2026-06-02 Listed $94,000 MiRealSource-MiMLS
2026-06-02 Listed $94,000 REALCOMP

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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