28 E James St · River Rouge, MI 48218

$60,000

4 bd · 3.0 ba · 1,197 sqft · SingleFamily public records · 16 Days on market

Built 1908 3,049 sqft lot Est $90k · 33% under

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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 +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Don't miss this large 4-bedroom, 2-bath colonial offering room to grow and endless possibilities. This home provides the space, layout, and character perfect for someone ready to bring their vision to life. With its classic colonial design, multiple living areas, and abundant square footage, the property is ideal for remodeling, expanding, or creating your dream home. Whether you're an investor looking for a value-add opportunity or a buyer wanting a project with huge upside, this home is full of potential from top to bottom.

Key facts

• 3,049 sq ft lot
• Built 1908
• Listed 16 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public sewer; Other water source
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot roughly 32 x 100 (0.07 acres)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Crawl space basement; Four total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 8.1% in River Rouge — 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 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $6k of equity ($415 loan paydown + $6k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y ago; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $60k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.83% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.20%
• DSCR: 1.99
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $89,775
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Burke St	0.04mi	4/1.0	1,032 (-14%)	1mo	$45,625	$44	66
59 E Pleasant St	0.12mi	3/1.0 (-1)	1,128 (-6%)	11mo	$85,000	$75	62
235 Richter St	0.50mi	3/1.0 (-1)	1,152 (-4%)	1mo	$45,625	$40	56
98 Le Roy St	0.24mi	3/1.5 (-1)	1,368 (+14%)	1mo	$55,000	$40	53
251 Beechwood St	0.54mi	3/1.0 (-1)	1,150 (-4%)	4mo	$30,000	$26	52
16 Alexander St	0.74mi	3/1.5 (-1)	1,200 (+0%)	4mo	$135,000	$113	51
287 Richter St	0.60mi	3/1.0 (-1)	1,140 (-5%)	6mo	$120,000	$105	46
235 Goodell St	0.54mi	3/1.5 (-1)	1,092 (-9%)	4mo	$147,000	$135	46
314 Richter St	0.65mi	4/1.0	1,281 (+7%)	11mo	$78,000	$61	41
294 Richter St	0.60mi	3/1.0 (-1)	1,056 (-12%)	6mo	$123,000	$116	34
116 Walnut St	0.59mi	3/1.0 (-1)	1,344 (+12%)	9mo	$83,000	$62	32
285 Campbell St	0.69mi	3/1.0 (-1)	1,029 (-14%)	6mo	$125,000	$121	27

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: 41.0%
• Equity multiple: 4.13×
• Total profit: $52,572
• Equity at exit: $54,053

10-year hold

• IRR: 35.4%
• Equity multiple: 9.30×
• Total profit: $139,461
• Equity at exit: $116,567

Cash invested: $16,800 (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 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$217 /mo · $2,606/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $311

Break-even live

Break-even rent $705

Max offer price $60,000

Occupancy floor 67%

Sensitivity live

Price	-10% $345	-5% $328	+0% $311	+5% $294	+10% $277
Rent	-10% $224	-5% $267	+0% $311	+5% $354	+10% $397
Rate	-1.0pp $341	-0.5pp $326	base $311	+0.5pp $295	+1.0pp $279

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	44d	1	0.58mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	25d	1	0.58mi
3801 18th St Ecorse, MI	3.0	1.0	1196	$1,150	$0.96	18d	1	1.48mi

Listing history 39 events

1. 2026-06-18
   days on market $60,000 Active 16 DOM
2. 2026-06-17
   days on market $60,000 Active 15 DOM
3. 2026-06-16
   days on market $60,000 Active 14 DOM
4. 2026-06-15
   days on market $60,000 Active 13 DOM
5. 2026-06-13
   days on market $60,000 Active 11 DOM
6. 2026-06-09
   days on market $60,000 Active 7 DOM
7. 2026-06-08
   days on market $60,000 Active 6 DOM
8. 2026-06-07
   days on market $60,000 Active 5 DOM
9. 2026-06-04
   days on market $60,000 Active 2 DOM
10. 2026-06-02
    pricedays on marketlisting id $60,000 Active 1 DOM
11. 2026-06-01
    days on market $75,000 Active 47 DOM
12. 2026-05-31
    days on market $75,000 Active 46 DOM
13. 2026-04-15
    listed $75,000 Active

    Show marketing remark (531 chars)

    Don't miss this large 4-bedroom, 2-bath colonial offering room to grow and endless possibilities. This home provides the space, layout, and character perfect for someone ready to bring their vision to life. With its classic colonial design, multiple living areas, and abundant square footage, the property is ideal for remodeling, expanding, or creating your dream home. Whether you're an investor looking for a value-add opportunity or a buyer wanting a project with huge upside, this home is full of potential from top to bottom.

14. 2026-04-15
    historical

    Show marketing remark (531 chars)

    Don't miss this large 4-bedroom, 2-bath colonial offering room to grow and endless possibilities. This home provides the space, layout, and character perfect for someone ready to bring their vision to life. With its classic colonial design, multiple living areas, and abundant square footage, the property is ideal for remodeling, expanding, or creating your dream home. Whether you're an investor looking for a value-add opportunity or a buyer wanting a project with huge upside, this home is full of potential from top to bottom.

15. 2026-04-15
    listed $75,000 Active 531-char remark

    Show marketing remark (531 chars)

    Don't miss this large 4-bedroom, 2-bath colonial offering room to grow and endless possibilities. This home provides the space, layout, and character perfect for someone ready to bring their vision to life. With its classic colonial design, multiple living areas, and abundant square footage, the property is ideal for remodeling, expanding, or creating your dream home. Whether you're an investor looking for a value-add opportunity or a buyer wanting a project with huge upside, this home is full of potential from top to bottom.

16. 2026-04-15
    historical

    Show marketing remark (531 chars)

    Don't miss this large 4-bedroom, 2-bath colonial offering room to grow and endless possibilities. This home provides the space, layout, and character perfect for someone ready to bring their vision to life. With its classic colonial design, multiple living areas, and abundant square footage, the property is ideal for remodeling, expanding, or creating your dream home. Whether you're an investor looking for a value-add opportunity or a buyer wanting a project with huge upside, this home is full of potential from top to bottom.

17. 2025-11-17
    listed $80,000 Active
18. 2025-11-17
    listed $80,000 Active
19. 2020-09-24
    soldstatus $20,000 Sold
20. 2020-09-24
    soldstatus $20,000 Closed
21. 2020-02-03
    status Pending
22. 2020-02-03
    status Pending
23. 2020-01-15
    listed $20,000 Active
24. 2020-01-15
    listed $20,000 Active
25. 2019-10-28
    historical
26. 2019-10-28
    historical
27. 2019-09-26
    price $34,900
28. 2019-09-25
    price $34,900
29. 2019-09-25
    price $299,900
30. 2019-09-25
    price $299,900
31. 2019-08-08
    listed $39,900 Active
32. 2019-08-08
    listed $39,900 Active
33. 2009-02-18
    soldstatus $2,500
34. 2008-07-21
    listed $44,900
35. 2005-03-07
    soldstatus $74,000
36. 2005-02-16
    soldstatus $74,000
37. 2004-12-17
    historical
38. 2004-10-20
    listed $74,900
39. 1997-05-21
    soldstatus $21,000

ⓘ 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: $2,606 · $217/mo
• Projected year-2 tax: $2,606 · $217/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $13,178
• − Mortgage interest: −$3,361
• − Property taxes: −$2,606
• − Insurance: −$300
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$1,745
• Taxable income: $3,057
• Est. tax owed @ 24.0%: −$734
• After-tax cash flow: $2,995/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

+257.1% since first listed

27 events — show timeline

• 2026-04-15 Listed $75,000 REALCOMP
• 2026-04-15 Listing Removed — MiRealSource-MiMLS
• 2026-04-15 Listed $75,000 MiRealSource-MiMLS
• 2026-04-15 Listing Removed — REALCOMP
• 2025-11-17 Listed $80,000 REALCOMP
• 2025-11-17 Listed $80,000 MiRealSource-MiMLS
• 2020-09-24 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2020-09-24 Sold (MLS) $20,000 REALCOMP
• 2020-02-03 Pending — MiRealSource-MiMLS
• 2020-02-03 Pending — REALCOMP
• 2020-01-15 Listed $20,000 MiRealSource-MiMLS
• 2020-01-15 Listed $20,000 REALCOMP
• 2019-10-28 Listing Removed — REALCOMP
• 2019-10-28 Listing Removed — MiRealSource-MiMLS
• 2019-09-26 Price Changed $34,900 MiRealSource-MiMLS
• 2019-09-25 Price Changed $34,900 REALCOMP
• 2019-09-25 Price Changed $299,900 MiRealSource-MiMLS
• 2019-09-25 Price Changed $299,900 REALCOMP
• 2019-08-08 Listed $39,900 MiRealSource-MiMLS
• 2019-08-08 Listed $39,900 REALCOMP
• 2009-02-18 Sold (MLS) $2,500 REALCOMP
• 2008-07-21 Listed $44,900 REALCOMP
• 2005-03-07 Sold (Public Records) $74,000 Public Records
• 2005-02-16 Sold (MLS) $74,000 MiRealSource-MiMLS
• 2004-12-17 Listing Removed — MiRealSource-MiMLS
• 2004-10-20 Listed $74,900 MiRealSource-MiMLS
• 1997-05-21 Sold (Public Records) $21,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,606 · +49.7% YoY. Source: county tax records.