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

CashFlowRE grades it B with a 13.0% cap rate and $524/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 13.0% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,486/month, from CashFlowRE's rent model.

B Composite 73.65

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
Appreciation +2.5/10.0
Rent growth +2.5/5.0
Livability +2.5/5.0
Manufactured-home adj. -6.4

$94,000

24445 Edwin Dr · Brownstown, MI 48134

4 bd · 2.0 ba · 1,568 sqft · Manufactured · 114 Days on market

Manufactured home Built 2017 Good condition 4,356 sqft lot $60/sqft · 20% below area Est $117k · 20% 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
Abundant storage

What this means for you Summary

Snapshot

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

Deal economics

At list price, monthly cash flow is $524 ($6k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($1k rent vs $94k).
Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
Cap rate 13.0% vs local median 3.2% 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: 114 active listings in the ZIP; 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 ~6 years — after that, you're playing with house money.

Negotiation context

It's been on market 114 days — a 9% lower offer ($86k) 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 $85,540 (9.0% below list)

Questions for the listing agent

It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.58% ✓
Cap rate: 12.98%
Cash-on-cash: 23.90%
DSCR: 2.06
GRM: 5.3

CMA / ARV

ARV (median comp): $117,000
List price: $94,000
Delta: -19.66%
Verdict: UNDERPRICED
Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24832 Chinook Ct	0.48mi	3/2.0 (-1)	1,600 (+2%)	2mo	$117,000	$73	68
25182 Frontier Cir	0.63mi	3/2.0 (-1)	1,568 (0%)	4mo	$50,000	$32	62
24066 HEMLOCK Dr	0.38mi	3/3.0 (-1)	1,763 (+12%)	2mo	$335,000	$190	51
25947 Rebecca Dr	0.84mi	3/2.5 (-1)	1,504 (-4%)	2mo	$295,000	$196	50
24317 Mount Olive Dr	0.83mi	3/2.0 (-1)	1,664 (+6%)	2mo	$250,000	$150	48
22162 Provincial St	1.38mi	3/1.5 (-1)	1,514 (-3%)	5mo	$182,500	$121	48
24611 Mount Olive Dr	0.62mi	4/2.0	1,246 (-20%)	0mo	$215,500	$173	46
22184 Derby Rd	1.19mi	3/1.5 (-1)	1,653 (+5%)	4mo	$295,000	$178	45
24860 Woodland Dr	0.60mi	3/1.5 (-1)	1,314 (-16%)	0mo	$297,000	$226	40
24816 Pamela St	1.03mi	4/1.5	1,822 (+16%)	4mo	$325,000	$178	35
22050 Provincial St	1.44mi	3/2.0 (-1)	1,806 (+15%)	4mo	$334,300	$185	32
24503 Crescent St	1.25mi	3/1.0 (-1)	1,307 (-17%)	3mo	$235,000	$180	28

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: 17.1%
Equity multiple: 1.69×
Total profit: $18,171
Equity at exit: $14,016

10-year hold

IRR: 25.6%
Equity multiple: 3.24×
Total profit: $58,897
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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 5 active · 2 under contract
Months of supply: 30.0 mo (3%/mo absorbed)
Median asking: $86,000 ($59/sqft)
Median days on market: 69 d
This list price: 80% of active listings are priced below it
ARV vs active asking: +27.2% 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: 114
Price-to-rent: 5.3×

Monthly cashflow live

Estimated rent: $1,486 medium interval (Pro) →
Mortgage (P&I): −$493
Tax est. 1.5%: −$118 /mo · $1,410/yr
Insurance: −$39
HOA: −$0
Lot rent leased land?: −$0
Vacancy / Maint / Mgmt: −$312
Net cashflow: $524

Break-even live

Break-even rent $822

Max offer price $94,000

Occupancy floor 60%

Sensitivity live

Price	-10% $589	-5% $557	+0% $524	+5% $492	+10% $459
Rent	-10% $407	-5% $465	+0% $524	+5% $583	+10% $641
Rate	-1.0pp $571	-0.5pp $548	base $524	+0.5pp $500	+1.0pp $475

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.

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

2026-09-24

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
2026-09-17

days on market $94,000 Active 107 DOM
2026-09-16

days on market $94,000 Active 106 DOM
2026-09-15

days on market $94,000 Active 105 DOM
2026-09-14

days on market $94,000 Active 104 DOM
2026-09-13

days on market $94,000 Active 103 DOM
2026-09-12

days on market $94,000 Active 102 DOM
2026-09-11

days on market $94,000 Active 101 DOM
2026-09-05

days on market $94,000 Active 95 DOM
2026-09-04

days on market $94,000 Active 94 DOM
2026-09-03

days on market $94,000 Active 93 DOM
2026-08-31

days on market $94,000 Active 90 DOM
2026-08-29

days on market $94,000 Active 88 DOM
2026-08-28

days on market $94,000 Active 87 DOM
2026-08-27

days on market $94,000 Active 86 DOM
2026-08-25

days on market $94,000 Active 84 DOM
2026-08-24

days on market $94,000 Active 83 DOM
2026-08-23

days on market $94,000 Active 82 DOM
2026-08-22

days on market $94,000 Active 81 DOM
2026-08-21

days on market $94,000 Active 80 DOM
2026-08-20

days on market $94,000 Active 79 DOM
2026-08-19

days on market $94,000 Active 78 DOM
2026-08-18

days on market $94,000 Active 77 DOM
2026-08-17

days on market $94,000 Active 76 DOM
2026-08-16

days on market $94,000 Active 75 DOM
2026-08-15

days on market $94,000 Active 74 DOM
2026-08-14

days on market $94,000 Active 73 DOM
2026-08-13

days on market $94,000 Active 72 DOM
2026-08-12

days on market $94,000 Active 71 DOM
2026-08-11

days on market $94,000 Active 70 DOM
2026-08-10

days on market $94,000 Active 69 DOM
2026-08-09

days on market $94,000 Active 68 DOM
2026-08-08

days on market $94,000 Active 67 DOM
2026-08-06

days on market $94,000 Active 65 DOM
2026-08-05

days on market $94,000 Active 64 DOM
2026-08-04

days on market $94,000 Active 63 DOM
2026-08-03

days on market $94,000 Active 62 DOM
2026-07-31

days on market $94,000 Active 59 DOM
2026-07-30

days on market $94,000 Active 58 DOM
2026-07-30

days on market $94,000 Active 57 DOM
2026-07-28

days on market $94,000 Active 56 DOM
2026-07-26

days on market $94,000 Active 54 DOM
2026-07-24

days on market $94,000 Active 52 DOM
2026-07-23

remarks 699-char remark

ⓘ 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: $17,829
− Mortgage interest: −$5,265
− Property taxes: −$1,410
− Insurance: −$470
− Repairs & maintenance: −$1,426
− Management: −$1,426
− Depreciation: −$2,735
Taxable income: $5,096

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

Est. tax owed @ 24.0%: −$1,223
After-tax cash flow: $5,066/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%
Common ancestry: Romanian 13% Lithuanian 5% Portuguese 3%
Foreign-born: 3% · Canada
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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