124 Le Roy St · River Rouge, MI 48218

$74,700

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 42 Days on market

Built 1914 3,485 sqft lot Est $92k · 19% 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 +25.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +7.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Property is being SOLD AS-IS. Buyer to assume all repairs. FHA and VA financing are welcome; however, seller will make no repairs, including any lender-required repairs. BATVAI

Key facts

• 3,485 sq ft lot
• 2 garage spots
• Built 1914

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Sewer available; Other water source
• Home design: Single-family residence; One-and-a-half story
• Construction: Aluminum siding; Slab foundation
• Exterior features: Paved road access; Lot roughly 30 x 110 (0.08 acres)

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Five total rooms; Ground-level entry with steps

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($906 rent vs $75k).
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.

Location & tenants

• 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, schools F, crime 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.
• Market conditions: 58 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $8k of equity ($516 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 25y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $75k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,459 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $91,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Burke St	0.30mi	4/1.0 (+1)	1,032 (+1%)	1mo	$45,625	$44	78
251 Richter St	0.27mi	3/1.0	974 (-4%)	5mo	$87,700	$90	76
111 Burke St	0.32mi	2/1.0 (-1)	1,000 (-2%)	5mo	$24,000	$24	73
235 Goodell St	0.25mi	3/1.5	1,092 (+7%)	4mo	$147,000	$135	71
294 Richter St	0.38mi	3/1.0	1,056 (+4%)	6mo	$123,000	$116	71
42 E Henry St	0.25mi	3/1.0	916 (-10%)	0mo	$115,000	$126	71
235 Richter St	0.23mi	3/1.0	1,152 (+13%)	1mo	$45,625	$40	67
59 E Pleasant St	0.19mi	3/1.0	1,128 (+11%)	11mo	$85,000	$75	64
332 Richter St	0.49mi	3/1.5	1,056 (+4%)	12mo	$101,000	$96	59
287 Richter St	0.37mi	3/1.0	1,140 (+12%)	6mo	$120,000	$105	59
251 Beechwood St	0.74mi	3/1.0	1,150 (+13%)	4mo	$30,000	$26	41
208 Fairmont St	0.72mi	4/1.0 (+1)	1,166 (+14%)	10mo	$80,000	$69	29

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: 31.6%
• Equity multiple: 3.48×
• Total profit: $51,786
• Equity at exit: $67,296

10-year hold

• IRR: 27.3%
• Equity multiple: 7.88×
• Total profit: $143,851
• Equity at exit: $145,126

Cash invested: $20,916 (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 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $906 high
• Mortgage (P&I): −$392
• Tax from tax record: −$119 /mo · $1,428/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $174

Break-even live

Break-even rent $686

Max offer price $74,700

Occupancy floor 76%

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: $18,675
• Closing costs: $2,241
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Batavia St Unit 1 River Rouge, MI	2.0	1.0	900	$825	$0.92	24d	1	0.12mi
17 W James St Unit 17 W James Lower River Rouge, MI	2.0	1.0	900	$950	$1.06	14d	1	0.46mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	43d	1	0.88mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	24d	1	0.88mi
3801 18th St Ecorse, MI	3.0	1.0	1196	$1,150	$0.96	17d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $74,700 Active 42 DOM
2. 2026-06-17
   days on market $74,700 Active 41 DOM
3. 2026-06-16
   days on market $74,700 Active 40 DOM
4. 2026-06-15
   days on market $74,700 Active 39 DOM
5. 2026-06-13
   days on market $74,700 Active 37 DOM
6. 2026-06-09
   days on market $74,700 Active 33 DOM
7. 2026-06-08
   days on market $74,700 Active 32 DOM
8. 2026-06-07
   days on market $74,700 Active 31 DOM
9. 2026-06-04
   days on market $74,700 Active 28 DOM
10. 2026-06-03
    days on market $74,700 Active 27 DOM
11. 2026-06-02
    pricedays on market $74,700 Active 26 DOM
12. 2026-06-01
    days on market $79,700 Active 25 DOM
13. 2026-05-31
    days on market $79,700 Active 24 DOM
14. 2026-05-19
    price $79,700 176-char remark

    Show marketing remark (176 chars)

    Property is being SOLD AS-IS. Buyer to assume all repairs. FHA and VA financing are welcome; however, seller will make no repairs, including any lender-required repairs. BATVAI

15. 2026-05-19
    price $79,700

    Show marketing remark (176 chars)

    Property is being SOLD AS-IS. Buyer to assume all repairs. FHA and VA financing are welcome; however, seller will make no repairs, including any lender-required repairs. BATVAI

16. 2026-05-07
    listed $89,700 Active 176-char remark

    Show marketing remark (176 chars)

    Property is being SOLD AS-IS. Buyer to assume all repairs. FHA and VA financing are welcome; however, seller will make no repairs, including any lender-required repairs. BATVAI

17. 2026-05-07
    listed $89,700 Active

    Show marketing remark (176 chars)

    Property is being SOLD AS-IS. Buyer to assume all repairs. FHA and VA financing are welcome; however, seller will make no repairs, including any lender-required repairs. BATVAI

18. 2026-04-23
    historical
19. 2026-04-01
    status Active
20. 2026-03-31
    historical
21. 2026-03-18
    listed $99,700 Active
22. 2026-03-17
    listed $99,700 Active
23. 2021-03-12
    soldstatus $45,000
24. 2021-03-04
    soldstatus $45,000 Sold
25. 2021-03-04
    soldstatus $45,000 Closed
26. 2021-02-23
    status Pending
27. 2021-02-23
    status Pending
28. 2021-01-26
    price $53,000
29. 2021-01-25
    price $53,000
30. 2021-01-15
    status Active
31. 2021-01-13
    historical
32. 2020-12-07
    listed $59,900 Active
33. 2020-12-07
    listed $59,900 Active
34. 2020-12-05
    historical $59,900
35. 2020-12-05
    historical $59,900
36. 2009-08-06
    soldstatus $5,000
37. 2009-08-06
    soldstatus $5,000
38. 2008-08-06
    soldstatus $5,000
39. 2008-07-18
    historical
40. 2008-05-13
    listed $5,000
41. 2008-05-13
    listed $5,000
42. 2008-05-13
    listed $5,000
43. 2008-02-14
    historical
44. 2008-02-14
    historical
45. 2008-01-18
    historical
46. 2007-11-26
    listed $19,900
47. 2007-11-26
    listed $19,900
48. 2007-11-07
    listed $9,900
49. 2007-11-07
    listed $9,900
50. 2004-12-14
    soldstatus $34,200

ⓘ 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: $1,428 · $119/mo
• Projected year-2 tax: $1,428 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,872
• − Mortgage interest: −$4,184
• − Property taxes: −$1,428
• − Insurance: −$374
• − Repairs & maintenance: −$870
• − Management: −$870
• − Depreciation: −$2,173
• Taxable income: $973
• Est. tax owed @ 24.0%: −$234
• After-tax cash flow: $1,853/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: River Rouge School District
• NCES district ID: 2629760
• Math proficiency: 3% ▼ -7.00%
• Reading proficiency: 12% ▼ -4.00%
• Median HH income: $26,664
• Composite: 5.29/100
• National rank: #10033
• State rank: #535 of 540 in MI

Livability — River Rouge

• Score: 65/100
• State rank: #454
• US rank: #12700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Rouge, MI
• City population: 7,096
• Population (ZIP): 7,096

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 0.66)
• Race & ethnicity: Black 45% White 34% Two or more races 16% Hispanic / Latino 16%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Arabic 2% 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: ▲ 77.93%
• Current HPI: 352.3551
• 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

+59.7% since first listed

47 events — show timeline

• 2026-05-19 Price Changed $79,700 MiRealSource-MiMLS
• 2026-05-19 Price Changed $79,700 REALCOMP
• 2026-05-07 Listed $89,700 REALCOMP
• 2026-05-07 Listed $89,700 MiRealSource-MiMLS
• 2026-04-23 Listing Removed — MiRealSource-MiMLS
• 2026-04-01 Relisted — REALCOMP
• 2026-03-31 Listing Removed — REALCOMP
• 2026-03-18 Listed $99,700 REALCOMP
• 2026-03-17 Listed $99,700 MiRealSource-MiMLS
• 2021-03-12 Sold (Public Records) $45,000 Public Records
• 2021-03-04 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2021-03-04 Sold (MLS) $45,000 REALCOMP
• 2021-02-23 Pending — MiRealSource-MiMLS
• 2021-02-23 Pending — REALCOMP
• 2021-01-26 Price Changed $53,000 MiRealSource-MiMLS
• 2021-01-25 Price Changed $53,000 REALCOMP
• 2021-01-15 Relisted — REALCOMP
• 2021-01-13 Listing Removed — REALCOMP
• 2020-12-07 Listed $59,900 MiRealSource-MiMLS
• 2020-12-07 Listed $59,900 REALCOMP
• 2020-12-05 Coming Soon $59,900 MiRealSource-MiMLS
• 2020-12-05 Coming Soon $59,900 REALCOMP
• 2009-08-06 Sold (MLS) $5,000 MiRealSource-MiMLS
• 2009-08-06 Sold (MLS) $5,000 REALCOMP
• 2008-08-06 Sold (MLS) $5,000 REALCOMP
• 2008-07-18 Listing Removed — MiRealSource-MiMLS
• 2008-05-13 Listed $5,000 REALCOMP
• 2008-05-13 Listed $5,000 MiRealSource-MiMLS
• 2008-05-13 Listed $5,000 REALCOMP
• 2008-02-14 Listing Removed — REALCOMP
• 2008-02-14 Listing Removed — MiRealSource-MiMLS
• 2008-01-18 Listing Removed — MiRealSource-MiMLS
• 2007-11-26 Listed $19,900 REALCOMP
• 2007-11-26 Listed $19,900 MiRealSource-MiMLS
• 2007-11-07 Listed $9,900 REALCOMP
• 2007-11-07 Listed $9,900 MiRealSource-MiMLS
• 2004-12-14 Sold (MLS) $34,200 REALCOMP
• 2004-07-23 Listed $34,200 REALCOMP
• 2003-09-29 Listing Removed — MiRealSource-MiMLS
• 2003-05-29 Listed $63,900 REALCOMP
• 2003-05-29 Listed $63,900 MiRealSource-MiMLS
• 2001-09-18 Sold (Public Records) $52,400 Public Records
• 2001-07-31 Sold (MLS) $52,400 REALCOMP
• 2001-07-31 Sold (MLS) $52,400 MiRealSource-MiMLS
• 2001-07-02 Listing Removed — MiRealSource-MiMLS
• 2001-06-09 Listed $49,900 REALCOMP
• 2001-06-09 Listed $49,900 MiRealSource-MiMLS

Property tax history

-3.1%/yr

Latest (2025): $1,428 · -27.7% YoY. Source: county tax records.