75 E Henry St

River Rouge, MI 48218

$67,400A-

2 bd · 1.0 ba · 1,404 sqft · Built 1903 · SingleFamily · Active · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $911/mo
• Mortgage (P&I): −$353
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$191
• Net cashflow: $188/mo
• Annual: $2,254/yr
• Cap rate: 10.82%
• Cash-on-cash: 16.17%
• DSCR: 1.72
• 1% rule: 1.35%
• Cash to close: $18,872

Investor read

• This is a 2-bed/1.0-bath single-family listed at $67k.
• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($911 rent vs $67k).
• It's been on market 196 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($466 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#454 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B+; Watch: health & safety D, crime F, amenities F.
• River Rouge School District (suburban): math 3% / reading 12% proficiency, ranked #535 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ann Visger K5 Preparatory Academy (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 621 students, 93% FRL); Cb Sabbath 68 Preparatory Academy (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 301 students, 93% FRL); River Rouge High School (math 2% / reading 8%, grade F, #704 of 713 statewide, top 100%, 966 students, 85% FRL) — zoned schools at 90% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 60 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $12k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $67k implies a 142% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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?
• 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?
• 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.