24353 Dartmouth St · Dearborn Heights, MI 48125

$165,000

3 bd · 1.0 ba · 710 sqft · SingleFamily public records · 8 Days on market

Built 1949 5,227 sqft lot Est $152k · 9% over

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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 +20.5/30.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• ARV discount +3.6/15.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained by the same owner for approximately 75 years, this pristine bungalow offers a rare opportunity to own a lovingly cared-for home in desirable Dearborn Heights. Showcasing timeless character and exceptional upkeep, this home features a brand new roof (2024), furnace (2025), hot water heater (2023), and updated main bathroom fixtures (2025), giving buyers peace of mind while preserving the home's original charm. The central air condenser was replaced in 1996. Step inside to discover immaculate original-condition interiors highlighted by hardwood floors hidden beneath the carpet in the main living area and bedrooms. The finished basement is perfect for entertaining, comp

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1949

Property features AI

Finance

• Other: Pets allowed; Paved street frontage; Approx. frontage 40 feet; Approximately 0.12 acre lot

Exterior

• Parking: Detached 2-car garage with electricity
• Utilities: Public water; Natural gas; Public power (central A/C, forced air heating)
• Home design: 1 1/2-story residential home; Built in 1949; Basement present (below-grade finished area listed)
• Construction: Aluminum and vinyl siding exterior; Basement foundation
• Exterior features: Fenced yard; Porch

Interior

• Kitchen: Kitchen on entry level, approx. 12 x 9, carpet; Range/oven; Refrigerator
• Bedrooms: Bedroom 1 on second level, approx. 18 x 11, carpet; Bedroom 2 on entry level, approx. 10 x 9, carpet; Bedroom 3 on entry level, approx. 9 (width listed), carpet; Total of 8 rooms
• Flooring: Carpet in living areas and bedrooms; Ceramic in bathroom; Linoleum in laundry room
• Bathrooms: One full bathroom with ceramic floor (approx. 7 x 5) located on entry level
• Heating & cooling: Forced air heating (natural gas); Gas water heater; Central A/C
• Interior features: Cable/internet available; DSL available; Partially finished basement
• Laundry & utility: Washer and dryer; Laundry room in basement, approx. 12 x 7, linoleum

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $161k (2.5% below list).
• Recommended offer: $161k (2.5% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.5% in Dearborn Heights — 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 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+.
• Westwood Community School District (suburban): math 6% / reading 11% proficiency, ranked #529 of 540 in MI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $5k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,917 (2.5% below list)

Questions for the listing agent

1. Built in 1949 — 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: 0.98% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $151,940
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24425 Lehigh St	0.26mi	2/1.0 (-1)	693 (-2%)	2mo	$155,000	$224	78
24691 Dartmouth St	0.20mi	2/1.0 (-1)	720 (+1%)	11mo	$185,000	$257	74
24754 Annapolis St	0.43mi	2/1.0 (-1)	702 (-1%)	3mo	$121,000	$172	71
24337 Ross St	0.06mi	2/1.0 (-1)	780 (+10%)	7mo	$178,000	$228	70
24637 Hopkins St	0.34mi	2/1.0 (-1)	702 (-1%)	13mo	$125,000	$178	66
24098 Hopkins St	0.30mi	2/1.0 (-1)	750 (+6%)	8mo	$132,000	$176	65
24324 Mcdonald St	0.41mi	2/1.0 (-1)	728 (+2%)	10mo	$137,500	$189	63
4474 Syracuse St	0.50mi	3/1.0	768 (+8%)	1mo	$165,000	$215	63
4506 Syracuse St	0.52mi	3/1.0	768 (+8%)	4mo	$164,200	$214	59
24427 Mcdonald St	0.44mi	3/1.0	800 (+13%)	13mo	$167,000	$209	48
25037 Hopkins St	0.46mi	2/1.0 (-1)	812 (+14%)	2mo	$159,900	$197	48
2746 Homeplace St	0.72mi	2/1.0 (-1)	614 (-14%)	8mo	$173,500	$283	32

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 · 2.03% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-14,419
• Equity at exit: $24,602

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,033
• Equity at exit: $14,266

Cash invested: $46,200 (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 48125

• Rents YoY: 2.0%
• Active inventory: 137
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,609 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$119 /mo · $1,427/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $218

Break-even live

Break-even rent $1,333

Max offer price $165,000

Occupancy floor 81%

Sensitivity live

Price	-10% $312	-5% $265	+0% $218	+5% $172	+10% $125
Rent	-10% $91	-5% $155	+0% $218	+5% $282	+10% $345
Rate	-1.0pp $301	-0.5pp $260	base $218	+0.5pp $176	+1.0pp $132

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5845 Michael St Taylor, MI	2.0	1.0	618	$1,325	$2.14	5d	1	0.99mi

Listing history 9 events

1. 2026-06-19
   status $165,000 Pending 8 DOM
2. 2026-06-18
   days on market $165,000 Active 8 DOM
3. 2026-06-17
   days on market $165,000 Active 7 DOM
4. 2026-06-16
   days on market $165,000 Active 6 DOM
5. 2026-06-15
   days on market $165,000 Active 5 DOM
6. 2026-06-13
   days on market $165,000 Active 3 DOM
7. 2026-06-13
   statusdays on marketlisting id $165,000 Active 2 DOM
8. 2026-06-08
   remarks 699-char remark
9. 2026-06-08
   listed $165,000 Coming Soon 1 DOM

ⓘ 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: $1,427 · $119/mo
• Projected year-2 tax: $1,984 · $165/mo
• Expected delta: +$557/yr (+$46/mo · 39.0%)

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

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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,310
• − Mortgage interest: −$9,243
• − Property taxes: −$1,427
• − Insurance: −$825
• − Repairs & maintenance: −$1,545
• − Management: −$1,545
• − Depreciation: −$4,800
• Taxable loss: −$74
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $2,637/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: Westwood Community School District
• NCES district ID: 2611640
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $36,350
• Composite: 7.06/100
• National rank: #9967
• State rank: #529 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

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 22,125
• Household income: $60,195
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 654.0

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 White (76%)
• Race & ethnicity: White 76% Black 10% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Arab 3% Slovak 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 13% Spanish 3% Russian/Polish/Slavic 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: ▼ -214.70%
• Current HPI: 218.4698
• Rent YoY: ▲ 2.03%
• 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

1 event — show timeline

• 2026-06-08 Coming Soon $165,000 MiRealSource-MiMLS

Property tax history

+2.6%/yr

Latest (2025): $1,427 · +3.6% YoY. Source: county tax records.