4600 Neff Ave · Detroit, MI 48224

$55,000

3 bd · 1.0 ba · 866 sqft · SingleFamily public records · 4 Days on market

Built 1943 6,098 sqft lot Est $70k · 22% under

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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
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

GREAT LOCATION BETWEEN MORNIGSIDE AND GROSSE POINTE AREA. STRONG RENTAL POTENCIAL.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1943

Property features AI

Finance

• Other: Property located in the city of Detroit (Brown Investment Co subdivision); Directions: Neff between Mack Ave and E Warren Ave

Exterior

• Parking: Detached garage with 1 parking space
• Utilities: Public water; Natural gas; Forced air heating
• Home design: Residential property; 1 1/2-story structure; Built in 1943; Basement foundation
• Construction: Steel construction; Basement foundation; Built in 1943
• Exterior features: Steel exterior construction; Paved street access; Frontage approximately 35 feet

Interior

• Bedrooms: Bedroom 1 (entry level) — 10 x 10, carpet; Bedroom 2 (entry level) — 10 x 8, carpet; Bedroom 3 (second level) — approx. 13' wide, carpet
• Flooring: Carpet in bedrooms; Ceramic tile in bathroom
• Bathrooms: 1 full bathroom (entry level) — ceramic floor, approx. 8 x 8
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 4 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 21.3% vs local median 10.2% in Detroit — 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 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 484 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 36% of the median local income ($45k/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 $380 of loan paydown is wiped out by about $2k 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 + 0.7% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 20y 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

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

Recommended offer $55,000

Questions for the listing agent

1. Built in 1943 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
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: 2.45% ✓
• Cap rate: 21.27%
• Cash-on-cash: 53.49%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $70,146
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4236 Cadieux Rd	0.39mi	3/1.0	849 (-2%)	7mo	$77,500	$91	73
5203 Marseilles St	0.34mi	3/1.0	816 (-6%)	7mo	$77,500	$95	68
4356 Harvard Rd	0.38mi	3/2.0	921 (+6%)	1mo	$150,000	$163	67
3950 Cadieux Rd	0.49mi	2/1.0 (-1)	900 (+4%)	0mo	$30,000	$33	65
4515 Hereford St	0.10mi	3/1.5	984 (+14%)	7mo	$75,000	$76	65
5243 Neff Ave	0.34mi	2/1.0 (-1)	816 (-6%)	7mo	$85,000	$104	64
4138 University Pl	0.29mi	3/1.0	780 (-10%)	7mo	$77,500	$99	64
4163 University Pl	0.26mi	3/1.0	975 (+13%)	7mo	$75,000	$77	61
4481 Radnor St	0.36mi	2/1.0 (-1)	792 (-8%)	5mo	$32,000	$40	60
5243 Marseilles St	0.37mi	3/1.0	961 (+11%)	7mo	$77,500	$81	58
5007 Ashley St	0.72mi	2/1.0 (-1)	817 (-6%)	2mo	$30,000	$37	50
5955 Guilford St	0.73mi	3/1.0	802 (-7%)	6mo	$43,000	$54	49

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 49.0%
• Equity multiple: 3.07×
• Total profit: $31,813
• Equity at exit: $8,201

10-year hold

• IRR: 53.6%
• Equity multiple: 5.69×
• Total profit: $72,259
• Equity at exit: $4,755

Cash invested: $15,400 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,350 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $686

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 44%

Sensitivity live

Price	-10% $724	-5% $705	+0% $686	+5% $667	+10% $648
Rent	-10% $580	-5% $633	+0% $686	+5% $740	+10% $793
Rate	-1.0pp $714	-0.5pp $700	base $686	+0.5pp $672	+1.0pp $658

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	25d	1	0.27mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	22d	1	0.33mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	44d	1	0.33mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	44d	1	0.33mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	44d	1	0.34mi
890 Neff Rd Grosse Pointe, MI	2.0	1.0	1100	$2,000	$1.82	25d	1	0.63mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.63mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	25d	1	0.73mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	0.74mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	0.85mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.87mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.88mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.94mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.94mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	3d	1	0.95mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	18d	1	0.95mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	3d	1	0.95mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	18d	1	0.95mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.95mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.95mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	0.96mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	0.98mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	1.01mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	1.01mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	1.05mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.07mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	25d	1	1.22mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.27mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	1.29mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.30mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	25d	1	1.33mi
542 Neff Ln Grosse Pointe, MI	2.0	1.0	900	$1,595	$1.77	44d	1	1.33mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.35mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.37mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.39mi
509 Saint Clair Ave Grosse Pointe, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.40mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.42mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.43mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	18d	1	1.44mi

Listing history 7 events

1. 2026-06-18
   days on market $55,000 Active 4 DOM
2. 2026-06-17
   days on market $55,000 Active 3 DOM
3. 2026-06-16
   days on market $55,000 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $55,000 Active 1 DOM
5. 2026-06-15
   days on market $55,000 Active 3 DOM
6. 2026-06-13
   remarks 82-char remark
7. 2026-06-13
   listed $55,000 Active 1 DOM

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

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 ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,201
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$1,600
• Taxable income: $7,828
• Est. tax owed @ 24.0%: −$1,879
• After-tax cash flow: $6,359/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: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 Black (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+90.6% since first listed

37 events — show timeline

• 2026-06-12 Listed $55,000 MiRealSource-MiMLS
• 2025-01-22 Listing Removed — REALCOMP
• 2025-01-21 Listing Removed — MiRealSource-MiMLS
• 2024-09-20 Listed $65,000 MiRealSource-MiMLS
• 2024-09-20 Listed $65,000 REALCOMP
• 2024-09-01 Listing Removed — MiRealSource-MiMLS
• 2024-08-31 Listing Removed — REALCOMP
• 2024-05-13 Listed $65,000 MiRealSource-MiMLS
• 2024-05-13 Listed $65,000 REALCOMP
• 2021-12-08 Sold (Public Records) $90,000 Public Records
• 2020-07-31 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2020-07-31 Sold (MLS) $15,000 REALCOMP
• 2020-07-08 Pending — MiRealSource-MiMLS
• 2020-07-08 Pending — REALCOMP
• 2020-07-01 Price Changed $15,000 MiRealSource-MiMLS
• 2020-07-01 Price Changed $15,000 REALCOMP
• 2020-03-06 Price Changed $18,000 MiRealSource-MiMLS
• 2020-03-05 Price Changed $18,000 REALCOMP
• 2020-02-12 Price Changed $20,000 MiRealSource-MiMLS
• 2020-02-11 Price Changed $20,000 REALCOMP
• 2019-09-17 Listed $34,000 MiRealSource-MiMLS
• 2019-09-17 Listed $34,000 REALCOMP
• 2018-07-16 Sold (MLS) $10,925 MiRealSource-MiMLS
• 2018-07-16 Sold (MLS) $10,925 REALCOMP
• 2018-05-16 Pending — REALCOMP
• 2018-05-16 Listed $11,500 MiRealSource-MiMLS
• 2018-05-16 Listing Removed — MiRealSource-MiMLS
• 2018-05-16 Listed $11,500 REALCOMP
• 2006-11-22 Listing Removed — REALCOMP
• 2006-11-22 Listing Removed — MiRealSource-MiMLS
• 2006-11-21 Listed $49,995 REALCOMP
• 2006-11-21 Listed $49,995 MiRealSource-MiMLS
• 2006-11-20 Listing Removed — REALCOMP
• 2006-11-20 Listing Removed — MiRealSource-MiMLS
• 2006-07-10 Listed $49,995 REALCOMP
• 2006-07-10 Listed $49,995 MiRealSource-MiMLS
• 1992-07-30 Sold (Public Records) $28,850 Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,019 · +45.0% YoY. Source: county tax records.