5093 Underwood Ave · Detroit, MI 48204

$35,000

3 bd · 1.5 ba · 1,533 sqft · SingleFamily public records · 7 Days on market

Built 1921 4,356 sqft lot Est $67k · 48% under ↓ 52% 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 +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

property fire damaged must sign hold harmless before showing

Key facts

• 4,356 sq ft lot
• 120 garage spots
• Built 1921

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Public water
• Home design: Colonial-style single family residence; Residential property; Built in 1921; Living area approximately 1,533
• Construction: Brick construction
• Exterior features: 0.1-acre lot

Interior

• Kitchen: Kitchen (14 x 12) — fire damaged
• Bedrooms: Primary bedroom (14 x 14) — fire damaged; Bedroom 2 (12 x 14) — fire damaged; Bedroom 3 (12 x 12) — fire damaged
• Bathrooms: 1 full bathroom (12 x 10) — fire damaged
• Heating & cooling: Forced air heating; Has heating
• Interior features: Fireplace; Michigan-style basement; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 32.9% 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: 244 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 45% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($242 loan paydown + $4k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1921 — 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: 3.69% ✓
• Cap rate: 32.95%
• Cash-on-cash: 95.20%
• DSCR: 5.24
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $67,452
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5125 Whitfield St	0.07mi	4/2.0 (+1)	1,530 (-0%)	2mo	$136,800	$89	87
5640 Underwood Ave	0.20mi	3/1.0	1,450 (-5%)	2mo	$65,000	$45	78
9539 Beechwood St St	0.19mi	3/1.0	1,440 (-6%)	2mo	$36,000	$25	77
10155 Monica St	0.71mi	3/1.5	1,535 (+0%)	8mo	$46,000	$30	60
5535 Vancouver St	0.62mi	3/1.0	1,440 (-6%)	3mo	$110,000	$76	57
9414 American St	0.50mi	2/1.0 (-1)	1,476 (-4%)	8mo	$17,000	$12	57
5250 Vancouver St	0.62mi	4/2.0 (+1)	1,450 (-5%)	1mo	$151,000	$104	54
5260 Spokane St	0.50mi	2/1.0 (-1)	1,438 (-6%)	7mo	$12,250	$9	54
10163 Monica St	0.71mi	3/1.0	1,486 (-3%)	8mo	$46,000	$31	53
5297 Vancouver St	0.63mi	4/1.5 (+1)	1,363 (-11%)	4mo	$60,000	$44	44
5519 Pacific St	0.75mi	3/1.0	1,420 (-7%)	10mo	$75,000	$53	43
10032 Bordeau St	0.54mi	4/1.0 (+1)	1,344 (-12%)	10mo	$21,000	$16	39

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: —
• Equity multiple: 8.00×
• Total profit: $68,597
• Equity at exit: $31,531

10-year hold

• IRR: 99.4%
• Equity multiple: 17.64×
• Total profit: $163,107
• Equity at exit: $67,997

Cash invested: $9,800 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,290 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $777

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 35%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	16d	1	0.48mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	16d	1	0.58mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	23d	1	0.75mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	24d	1	0.80mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	24d	1	0.80mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	0.90mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	24d	1	0.92mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	21d	1	0.94mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	16d	1	0.94mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	43d	1	0.97mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	1.02mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	16d	1	1.07mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	24d	1	1.10mi
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	3d	1	1.10mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	16d	1	1.11mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.13mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	43d	1	1.14mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	16d	1	1.15mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	1d	1	1.22mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	24d	1	1.23mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	12d	1	1.27mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	43d	1	1.27mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	1.31mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.32mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.32mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	1.32mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	21d	1	1.36mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	1.36mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.40mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	43d	1	1.45mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	4d	1	1.46mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	43d	1	1.46mi
3012 Lothrop Detroit, MI	2.0	1.0	1800	$1,300	$0.72	2d	1	1.47mi

Listing history 7 events

1. 2026-06-18
   days on market $35,000 Active 7 DOM
2. 2026-06-17
   days on market $35,000 Active 6 DOM
3. 2026-06-16
   days on market $35,000 Active 5 DOM
4. 2026-06-15
   days on market $35,000 Active 4 DOM
5. 2026-06-13
   days on market $35,000 Active 2 DOM
6. 2026-06-13
   remarks 60-char remark
7. 2026-06-13
   listed $35,000 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,483
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$1,018
• Taxable income: $9,327
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $7,091/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• Rent YoY: —
• 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

-52.1% since first listed

5 events — show timeline

• 2026-06-11 Listed $35,000 REALCOMP
• 2026-06-11 Listed $35,000 MiRealSource-MiMLS
• 2026-06-11 Listed $35,000 SW Michigan MLS
• 2005-03-02 Sold (Public Records) $86,000 Public Records
• 2001-11-05 Sold (Public Records) $73,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,137 · +38.1% YoY. Source: county tax records.