1532 Woodmere St · Detroit, MI 48209

$190,000

4 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 28 Days on market

Built 1924 3,049 sqft lot $155/sqft · 80% above area ↓ 10% since listing

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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 +13.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Welcome to 1532 Woodmere, a beautifully renovated colonial that perfectly blends timeless character with modern updates. This spacious home features 4 generously sized bedrooms and 2 full bathrooms, offering plenty of room for comfortable living, entertaining, and growing into your space. The home has been fully renovated from top to bottom, showcasing updated finishes, fresh paint, and a thoughtfully designed layout that feels both inviting and functional. The bright and airy living spaces flow seamlessly, creating the perfect setting for everyday living or hosting guests. The kitchen has been tastefully updated, providing a stylish and practical space to cook and gather, while both full bathrooms have been refreshed with modern touches for a clean, contemporary feel. Each bedroom offers ample space, natural light, and versatility to fit your needs - whether it's a home office, guest room, or personal retreat. BATVAI.

Key facts

• 3,049 sq ft lot
• Built 1924
• Listed 28 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.07 acre (30 x 100)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $8 ($97/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 $151k (20.5% below list).
• Recommended offer: $151k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 42% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 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 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,050 (20.5% below list)

Questions for the listing agent

1. Built in 1924 — 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. 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?
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: 0.80% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (median comp): $116,205
• List price: $190,000
• Delta: 80.71%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9113 Avis St	0.16mi	3/1.5 (-1)	1,232 (+1%)	12mo	$160,000	$130	74
8792 Chamberlain St	0.31mi	3/1.5 (-1)	1,224 (0%)	8mo	$110,000	$90	71
1976 Cabot St	0.42mi	4/3.0	1,213 (-1%)	5mo	$160,000	$132	66
8072 Senator St	0.66mi	4/1.5	1,214 (-1%)	1mo	$133,000	$110	65
8080 Gartner St	0.61mi	3/1.0 (-1)	1,200 (-2%)	3mo	$165,000	$138	61
1431 Canterbury St	0.41mi	3/1.5 (-1)	1,152 (-6%)	5mo	$210,000	$182	60
9954 Tuxedo St	0.42mi	3/2.0 (-1)	1,152 (-6%)	9mo	$206,000	$179	54

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: 24.4%
• Equity multiple: 2.95×
• Total profit: $103,939
• Equity at exit: $171,167

10-year hold

• IRR: 21.6%
• Equity multiple: 6.74×
• Total profit: $305,567
• Equity at exit: $369,128

Cash invested: $53,200 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 66
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,510 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $8

Break-even live

Break-even rent $1,500

Max offer price $190,000

Occupancy floor 94%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2488 Woodmere St Detroit, MI	3.0	1.0	1000	$1,453	$1.45	4d	1	0.58mi

Listing history 18 events

1. 2026-06-17
   status $190,000 Pending 28 DOM

   Show marketing remark (932 chars)

   Welcome to 1532 Woodmere, a beautifully renovated colonial that perfectly blends timeless character with modern updates. This spacious home features 4 generously sized bedrooms and 2 full bathrooms, offering plenty of room for comfortable living, entertaining, and growing into your space. The home has been fully renovated from top to bottom, showcasing updated finishes, fresh paint, and a thoughtfully designed layout that feels both inviting and functional. The bright and airy living spaces flow seamlessly, creating the perfect setting for everyday living or hosting guests. The kitchen has been tastefully updated, providing a stylish and practical space to cook and gather, while both full bathrooms have been refreshed with modern touches for a clean, contemporary feel. Each bedroom offers ample space, natural light, and versatility to fit your needs - whether it's a home office, guest room, or personal retreat. BATVAI.

2. 2026-06-17
   days on market $190,000 Active 28 DOM

   Show marketing remark (932 chars)

   Welcome to 1532 Woodmere, a beautifully renovated colonial that perfectly blends timeless character with modern updates. This spacious home features 4 generously sized bedrooms and 2 full bathrooms, offering plenty of room for comfortable living, entertaining, and growing into your space. The home has been fully renovated from top to bottom, showcasing updated finishes, fresh paint, and a thoughtfully designed layout that feels both inviting and functional. The bright and airy living spaces flow seamlessly, creating the perfect setting for everyday living or hosting guests. The kitchen has been tastefully updated, providing a stylish and practical space to cook and gather, while both full bathrooms have been refreshed with modern touches for a clean, contemporary feel. Each bedroom offers ample space, natural light, and versatility to fit your needs - whether it's a home office, guest room, or personal retreat. BATVAI.

3. 2026-06-15
   days on market $190,000 Active 26 DOM
4. 2026-06-13
   days on market $190,000 Active 24 DOM
5. 2026-06-13
   days on market $190,000 Active 23 DOM
6. 2026-06-09
   days on market $190,000 Active 20 DOM
7. 2026-06-08
   days on market $190,000 Active 19 DOM
8. 2026-06-07
   days on market $190,000 Active 18 DOM
9. 2026-06-04
   days on market $190,000 Active 15 DOM
10. 2026-06-03
    days on market $190,000 Active 14 DOM
11. 2026-06-02
    days on market $190,000 Active 13 DOM
12. 2026-06-01
    days on market $190,000 Active 12 DOM
13. 2026-05-31
    days on market $190,000 Active 11 DOM
14. 2026-05-18
    historical
15. 2026-05-18
    historical
16. 2026-04-17
    listed $210,000 Active
17. 2026-04-17
    listed $210,000 Active
18. 2026-04-16
    historical

ⓘ 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: $1,316 · $110/mo
• Projected year-2 tax: $2,121 · $177/mo
• Expected delta: +$805/yr (+$67/mo · 61.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 14 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: $18,126
• − Mortgage interest: −$10,643
• − Property taxes: −$1,316
• − Insurance: −$950
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$5,527
• Taxable loss: −$3,210
• Est. tax savings @ 24.0%: +$770
• After-tax cash flow: $868/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• 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

-9.5% since first listed

9 events — show timeline

• 2026-06-17 Pending — MiRealSource-MiMLS
• 2026-06-17 Pending — REALCOMP
• 2026-05-20 Listed $190,000 REALCOMP
• 2026-05-20 Listed $190,000 MiRealSource-MiMLS
• 2026-05-18 Listing Removed — REALCOMP
• 2026-05-18 Listing Removed — MiRealSource-MiMLS
• 2026-04-17 Listed $210,000 MiRealSource-MiMLS
• 2026-04-17 Listed $210,000 REALCOMP
• 2026-04-16 Coming Soon — MiRealSource-MiMLS

Property tax history

+6.4%/yr

Latest (2025): $1,316 · +1.7% YoY. Source: county tax records.