346 Labadie St · Ecorse, MI 48229

$69,900

3 bd · 1.0 ba · 879 sqft · SingleFamily public records · 81 Days on market

Built 1965 3,049 sqft lot Est $88k · 20% under ↓ 15% since listing

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.3/10.0

Listing remarks MLS

Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

Key facts

• 3,049 sq ft lot
• Garage
• Built 1965

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick construction
• Construction: Brick exterior; One-story structure
• Exterior features: Paved road access; Lot approximately 30 x 100 (0.07 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 10.0% in Ecorse — 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 69/100 on livability (#348 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, crime F, amenities F.
• Ecorse Public Schools (suburban): math 3% / reading 7% proficiency, ranked #536 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ralph J Bunche Academy (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 318 students, 90% FRL); Grandport Elementary Academy (math 2% / reading 8%, grade F, #488 of 493 statewide, top 100%, 335 students, 89% FRL); Ecorse Community High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 296 students, 81% FRL).
• Market conditions: 60 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.79% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.72%
• DSCR: 2.46
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $87,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 Labadie St	0.01mi	3/1.0	960 (+9%)	3mo	$99,000	$103	82
4250 7th St	0.29mi	2/1.0 (-1)	935 (+6%)	1mo	$37,750	$40	70
1260 Marion Ave	0.71mi	3/1.0	874 (-1%)	1mo	$155,000	$177	65
4635 5th St	0.56mi	3/1.0	965 (+10%)	1mo	$99,900	$104	56
483 Park Ave	0.36mi	3/2.0	988 (+12%)	3mo	$206,000	$209	56
4134 17th St	0.55mi	3/2.0	822 (-6%)	5mo	$59,000	$72	55
1312 Ferris Ave	0.74mi	3/1.5	930 (+6%)	4mo	$117,000	$126	50
4353 3rd St	0.36mi	2/2.0 (-1)	769 (-12%)	4mo	$22,000	$29	50
4435 High St	0.62mi	2/1.0 (-1)	792 (-10%)	2mo	$50,000	$63	48
4260 Pitt St	0.60mi	3/1.5	998 (+14%)	2mo	$31,000	$31	46
25 W Broadway St	0.71mi	3/1.0	1,000 (+14%)	2mo	$69,000	$69	42
4059 High St	0.72mi	3/2.0	996 (+13%)	3mo	$100,000	$100	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.3%
• Equity multiple: 4.68×
• Total profit: $72,065
• Equity at exit: $62,971

10-year hold

• IRR: 43.0%
• Equity multiple: 10.48×
• Total profit: $185,494
• Equity at exit: $135,800

Cash invested: $19,572 (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 48229

• Home prices YoY: 33.9%
• Active inventory: 60
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,254 high
• Mortgage (P&I): −$367
• Tax from tax record: −$61 /mo · $737/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $534

Break-even live

Break-even rent $579

Max offer price $69,900

Occupancy floor 52%

Sensitivity live

Price	-10% $573	-5% $554	+0% $534	+5% $514	+10% $494
Rent	-10% $435	-5% $484	+0% $534	+5% $583	+10% $633
Rate	-1.0pp $569	-0.5pp $551	base $534	+0.5pp $516	+1.0pp $497

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1331 Pingree Ave Lincoln Park, MI	2.0	1.0	725	$1,300	$1.79	1d	1	0.37mi
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	26d	1	0.44mi
4573 3rd St Ecorse, MI	2.0	1.0	1000	$1,300	$1.30	16d	1	0.50mi
4435 High St Ecorse, MI	2.0	1.0	792	$1,095	$1.38	6d	1	0.59mi
4471 High St Unit 71-7 Ecorse, MI	2.0	1.0	700	$1,150	$1.64	26d	1	0.62mi
4471 High St Unit 81-13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	26d	1	0.62mi
4581 High St Unit 13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	26d	1	0.73mi
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	19d	1	0.82mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	19d	1	0.85mi
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	18d	1	1.07mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	19d	1	1.12mi
177 N Riverbank St Wyandotte, MI	2.0	1.0	671	$1,600	$2.38	0d	1	1.17mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	26d	1	1.20mi
168 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,295	$1.20	6d	1	1.30mi
170 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,399	$1.30	4d	1	1.30mi
146 Bondie St Wyandotte, MI	2.0	1.0	820	$1,650	$2.01	0d	1	1.30mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	16d	1	1.34mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	26d	1	1.35mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	26d	1	1.42mi

Listing history 24 events

1. 2026-06-21
   days on market $69,900 Active 81 DOM
2. 2026-06-18
   days on market $69,900 Active 78 DOM
3. 2026-06-17
   days on market $69,900 Active 77 DOM
4. 2026-06-16
   days on market $69,900 Active 76 DOM
5. 2026-06-15
   days on market $69,900 Active 75 DOM
6. 2026-06-13
   days on market $69,900 Active 73 DOM
7. 2026-06-09
   days on market $69,900 Active 69 DOM
8. 2026-06-08
   days on market $69,900 Active 68 DOM
9. 2026-06-07
   days on market $69,900 Active 67 DOM
10. 2026-06-04
    days on market $69,900 Active 64 DOM
11. 2026-06-03
    days on market $69,900 Active 63 DOM
12. 2026-06-02
    days on market $69,900 Active 62 DOM
13. 2026-06-01
    days on market $69,900 Active 61 DOM
14. 2026-05-31
    days on market $69,900 Active 60 DOM
15. 2026-05-09
    price $72,500 626-char remark

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

16. 2026-05-08
    price $72,500
17. 2026-04-22
    price $75,000 626-char remark

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

18. 2026-04-21
    status Active 626-char remark

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

19. 2026-04-21
    status Active

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

20. 2026-04-21
    price $75,000

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

21. 2026-04-07
    status Pending 626-char remark

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

22. 2026-04-07
    status Pending

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

23. 2026-03-18
    listed $85,000 Active

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

24. 2026-03-18
    listed $85,000 Active 626-char remark

    Show marketing remark (626 chars)

    Great investment opportunity! This ranch home with attached garage and full basement offers solid potential for the right buyer. With some cleaning and cosmetic updates, this property could make an excellent rental or addition to your investment portfolio. Conveniently located near major roads, shopping, and amenities. Property is being sold as-is. Buyer to assume any required repairs. All measurements and information are deemed reliable but not guaranteed; buyer and buyer's agent to verify all information. Property is under 24-hour surveillance. Don't miss out on this value-add opportunity schedule your showing today!

ⓘ 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: $737 · $61/mo
• Projected year-2 tax: $907 · $76/mo
• Expected delta: +$170/yr (+$14/mo · 23.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,050
• − Mortgage interest: −$3,915
• − Property taxes: −$737
• − Insurance: −$350
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$2,033
• Taxable income: $5,607
• Est. tax owed @ 24.0%: −$1,346
• After-tax cash flow: $5,059/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: Ecorse Public Schools
• NCES district ID: 2612930
• Math proficiency: 3% ▼ -4.00%
• Reading proficiency: 7% ▼ -6.00%
• Median HH income: $28,957
• Composite: 3.46/100
• National rank: #10075
• State rank: #536 of 540 in MI

Livability — Ecorse

• Score: 69/100
• State rank: #348
• US rank: #8880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ecorse, MI
• City population: 9,166
• Population (ZIP): 9,166

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 45% White 26% Hispanic / Latino 21% Two or more races 15% Native American 4%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala, Jamaica
• Languages at home: 86% English-only · Spanish 13%

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: ▲ 102.51%
• Current HPI: 404.5927
• Rent YoY: —
• Metro: —
• 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

-14.7% since first listed

10 events — show timeline

• 2026-05-09 Price Changed $72,500 MiRealSource-MiMLS
• 2026-05-08 Price Changed $72,500 REALCOMP
• 2026-04-22 Price Changed $75,000 MiRealSource-MiMLS
• 2026-04-21 Relisted — MiRealSource-MiMLS
• 2026-04-21 Relisted — REALCOMP
• 2026-04-21 Price Changed $75,000 REALCOMP
• 2026-04-07 Pending — MiRealSource-MiMLS
• 2026-04-07 Pending — REALCOMP
• 2026-03-18 Listed $85,000 REALCOMP
• 2026-03-18 Listed $85,000 MiRealSource-MiMLS

Property tax history

-8.3%/yr

Latest (2025): $737 · -48.5% YoY. Source: county tax records.