3950 Cadieux Rd · Detroit, MI 48224

$40,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 150 Days on market

Built 1920 10,454 sqft lot $44/sqft · 52% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom one bath with the potential for a third bedroom upstairs, a value add opportunity. Solid investment property. One car garage and brand new roof put on in 2022. The house has a large backyard which backs up to Messmer park giving you tons of space and a great view. The backyard is 150' by 40'. Close to shopping and grocery stores in Grosse Pointe. Cadieux Cafe just down the block with feather bowling and live music. Sold AS IS BATVAI

Key facts

• Brand new roof
• Large backyard
• Close to shopping

Tags

• POTENTIAL FOR A THIRD BEDROOM
• VALUE ADD OPPORTUNITY
• BRAND NEW ROOF
• LARGE BACKYARD
• BACKS UP TO MESSMER PARK
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.4% vs local median 10.0% 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: Rents flat; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($45k/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 $277 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 30y ago 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.
• Current owner paid $33k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 2.97% ✓
• Cap rate: 25.37%
• Cash-on-cash: 68.14%
• DSCR: 4.03
• GRM: 2.8

CMA / ARV

• ARV (median comp): $82,763
• List price: $40,000
• Delta: -51.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3950 Cadieux Rd	0.00mi	2/1.0	900 (0%)	0mo	$30,000	$33	100
4356 Harvard Rd	0.26mi	3/2.0 (+1)	921 (+2%)	1mo	$150,000	$163	74
4236 Cadieux Rd	0.13mi	3/1.0 (+1)	849 (-6%)	7mo	$77,500	$91	73
4410 Guilford St	0.33mi	3/1.0 (+1)	911 (+1%)	11mo	$40,000	$44	68
4150 Woodhall St	0.24mi	3/1.0 (+1)	989 (+10%)	8mo	$75,500	$76	61
4325 Cadieux Rd	0.22mi	3/1.0 (+1)	1,002 (+11%)	7mo	$85,000	$85	60
4163 University Pl	0.43mi	3/1.0 (+1)	975 (+8%)	7mo	$75,000	$77	55
4515 Hereford St	0.45mi	3/1.5 (+1)	984 (+9%)	7mo	$75,000	$76	50
4422 Yorkshire Rd	0.40mi	3/1.0 (+1)	1,015 (+13%)	10mo	$162,000	$160	46
4138 University Pl	0.45mi	3/1.0 (+1)	780 (-13%)	7mo	$77,500	$99	46
4481 Radnor St	0.68mi	2/1.0	792 (-12%)	5mo	$32,000	$40	44
17173 New York St	0.51mi	3/1.0 (+1)	1,000 (+11%)	10mo	$102,000	$102	44

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 64.9%
• Equity multiple: 3.80×
• Total profit: $31,402
• Equity at exit: $5,964

10-year hold

• IRR: 68.5%
• Equity multiple: 7.18×
• Total profit: $69,230
• Equity at exit: $3,458

Cash invested: $11,200 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,189 high
• Mortgage (P&I): −$210
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $636

Break-even live

Break-even rent $384

Max offer price $40,000

Occupancy floor 42%

Sensitivity live

Price	-10% $659	-5% $647	+0% $636	+5% $625	+10% $613
Rent	-10% $542	-5% $589	+0% $636	+5% $683	+10% $730
Rate	-1.0pp $656	-0.5pp $646	base $636	+0.5pp $626	+1.0pp $615

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17161 Denver St Detroit, MI	1.0	1.0	700	$800	$1.14	14d	1	0.18mi
17161 Denver St Apt 10 Detroit, MI	1.0	1.0	700	$800	$1.14	12d	1	0.18mi
3500 Bluehill St Apt 107 Detroit, MI	1.0	1.0	600	$900	$1.50	0d	1	0.23mi
890 Neff Rd Grosse Pointe, MI	2.0	1.0	1100	$2,000	$1.82	26d	1	0.37mi
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	26d	1	0.40mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	45d	1	0.44mi
4811 Cadieux Rd Unit 2 Detroit, MI	1.0	1.0	600	$950	$1.58	45d	1	0.44mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	23d	1	0.44mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	45d	1	0.46mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	45d	1	0.48mi
16530 E Warren Ave Unit 209 Detroit, MI	1.0	1.0	850	$1,292	$1.52	45d	1	0.62mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	21d	1	0.73mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	0.86mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	0.88mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	16d	1	0.96mi
542 Neff Ln Grosse Pointe, MI	2.0	1.0	900	$1,595	$1.77	45d	1	0.96mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	45d	1	0.99mi
509 Saint Clair Ave Grosse Pointe, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	1.01mi
5284 Devonshire Rd Unit 2 Detroit, MI	1.0	1.0	750	$1,050	$1.40	16d	1	1.02mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	26d	1	1.02mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	45d	1	1.05mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	18d	1	1.06mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	19d	1	1.11mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	19d	1	1.12mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	6d	1	1.13mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.17mi
5025 Somerset Ave Detroit, MI	1.0	1.0	772	$900	$1.17	45d	1	1.20mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	26d	1	1.22mi
389 Saint Clair Ave Grosse Pointe, MI	2.0	2.0	1000	$3,150	$3.15	45d	1	1.24mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	1.28mi
1236 Beaconsfield Ave Unit 1 Grosse Pointe Park, MI	2.0	1.0	1100	$1,600	$1.45	26d	1	1.32mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	1.32mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	1.34mi
295 Rivard Blvd heuristic Grosse Pointe, MI	2.0	1.0	1000	$2,000	$2.00	26d	1	1.34mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	1.35mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	45d	1	1.35mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	45d	1	1.39mi
1314 Maryland St Grosse Pointe Park, MI	2.0	1.0	1008	$1,250	$1.24	45d	1	1.40mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	23d	1	1.41mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	5d	1	1.41mi

Listing history 40 events

1. 2026-06-03
   statusdays on market $40,000 Pending 150 DOM
2. 2026-06-01
   days on market $40,000 Active 149 DOM
3. 2026-05-31
   days on market $40,000 Active 148 DOM
4. 2026-01-03
   listed $40,000 Active 448-char remark

   Show marketing remark (449 chars)

   Two bedroom one bath with the potential for a third bedroom upstairs, a value add opportunity. Solid investment property. One car garage and brand new roof put on in 2022. The house has a large backyard which backs up to Messmer park giving you tons of space and a great view. The backyard is 150' by 40'. Close to shopping and grocery stores in Grosse Pointe. Cadieux Cafe just down the block with feather bowling and live music. Sold AS IS BATVAI

5. 2026-01-03
   listed $40,000 Active 449-char remark

   Show marketing remark (449 chars)

   Two bedroom one bath with the potential for a third bedroom upstairs, a value add opportunity. Solid investment property. One car garage and brand new roof put on in 2022. The house has a large backyard which backs up to Messmer park giving you tons of space and a great view. The backyard is 150' by 40'. Close to shopping and grocery stores in Grosse Pointe. Cadieux Cafe just down the block with feather bowling and live music. Sold AS IS BATVAI

6. 2025-09-02
   historical
7. 2025-09-02
   historical
8. 2024-04-17
   status Active
9. 2024-04-17
   status Active
10. 2024-04-12
    status Pending
11. 2024-04-12
    status Pending
12. 2024-04-04
    status Active
13. 2024-04-04
    status Active
14. 2024-03-25
    status Pending
15. 2024-03-25
    status Pending
16. 2023-12-12
    status Active
17. 2023-12-12
    status Active
18. 2023-11-24
    status Pending
19. 2023-11-24
    status Pending
20. 2023-11-02
    historical Accepting Backup Offers
21. 2023-11-02
    historical Accepting Backup Offers
22. 2023-10-18
    listed $49,000 Active
23. 2023-10-18
    listed $49,000 Active
24. 2004-05-26
    soldstatus $33,000
25. 2004-03-17
    listed $43,500
26. 2004-03-16
    historical
27. 2004-02-01
    listed $49,500
28. 2004-01-23
    historical
29. 2004-01-01
    listed $49,500
30. 2003-12-12
    historical
31. 2003-10-06
    listed $69,990
32. 2003-10-03
    historical
33. 2003-09-22
    listed $69,990
34. 2003-09-02
    historical
35. 2003-06-05
    listed $79,990
36. 1998-03-17
    soldstatus $30,000
37. 1997-08-01
    soldstatus $15,000
38. 1997-06-10
    soldstatus $30,000
39. 1996-09-04
    historical
40. 1996-08-05
    listed $35,500

ⓘ 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: $920 · $77/mo
• Projected year-2 tax: $920 · $77/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,264
• − Mortgage interest: −$2,241
• − Property taxes: −$920
• − Insurance: −$200
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$1,164
• Taxable income: $7,458
• Est. tax owed @ 24.0%: −$1,790
• After-tax cash flow: $5,842/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+12.7% since first listed

37 events — show timeline

• 2026-01-03 Listed $40,000 REALCOMP
• 2026-01-03 Listed $40,000 MiRealSource-MiMLS
• 2025-09-02 Listing Removed — MiRealSource-MiMLS
• 2025-09-02 Listing Removed — REALCOMP
• 2024-04-17 Relisted — REALCOMP
• 2024-04-17 Relisted — MiRealSource-MiMLS
• 2024-04-12 Pending — MiRealSource-MiMLS
• 2024-04-12 Pending — REALCOMP
• 2024-04-04 Relisted — MiRealSource-MiMLS
• 2024-04-04 Relisted — REALCOMP
• 2024-03-25 Pending — MiRealSource-MiMLS
• 2024-03-25 Pending — REALCOMP
• 2023-12-12 Relisted — MiRealSource-MiMLS
• 2023-12-12 Relisted — REALCOMP
• 2023-11-24 Pending — MiRealSource-MiMLS
• 2023-11-24 Pending — REALCOMP
• 2023-11-02 Contingent — MiRealSource-MiMLS
• 2023-11-02 Contingent — REALCOMP
• 2023-10-18 Listed $49,000 MiRealSource-MiMLS
• 2023-10-18 Listed $49,000 REALCOMP
• 2004-05-26 Sold (MLS) $33,000 REALCOMP
• 2004-03-17 Listed $43,500 REALCOMP
• 2004-03-16 Listing Removed — REALCOMP
• 2004-02-01 Listed $49,500 REALCOMP
• 2004-01-23 Listing Removed — REALCOMP
• 2004-01-01 Listed $49,500 REALCOMP
• 2003-12-12 Listing Removed — REALCOMP
• 2003-10-06 Listed $69,990 REALCOMP
• 2003-10-03 Listing Removed — REALCOMP
• 2003-09-22 Listed $69,990 REALCOMP
• 2003-09-02 Listing Removed — REALCOMP
• 2003-06-05 Listed $79,990 REALCOMP
• 1998-03-17 Sold (Public Records) $30,000 Public Records
• 1997-08-01 Sold (Public Records) $15,000 Public Records
• 1997-06-10 Sold (MLS) $30,000 MiRealSource-MiMLS
• 1996-09-04 Listing Removed — MiRealSource-MiMLS
• 1996-08-05 Listed $35,500 MiRealSource-MiMLS

Property tax history

-0.7%/yr

Latest (2025): $920 · -53.6% YoY. Source: county tax records.