8847 Woodbine · Redford, MI 48239

$199,900

3 bd · 1.0 ba · 981 sqft · SingleFamily public records · 15 Days on market

Built 1959 5,227 sqft lot $204/sqft · 90% above area Est $210k · at est.

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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 +9.9/30.0
• ARV discount +9.7/15.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• DSCR +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy 3-bedroom brick ranch has 2 full bathrooms. newer furnace and central air conditioner. Finished basement with a kitchen and a full bathroom. Hardwood floors t/o on the main level. (2 stoves, 2 refrigerators, dryer, washer, 65 in TV, fireplace, dehumidifier, cameras to stay ). sold As Is

Key facts

• Newer furnace
• Finished basement
• Hardwood floors

Tags

• BRICK RANCH
• FINISHED BASEMENT
• HARDWOOD FLOORS
• CENTRAL AIR CONDITIONER
• NEWER FURNACE

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved road access
• Utilities: Municipal water available; Municipal sewer available
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Covered porch

Interior

• Kitchen: Free-standing refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and other living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-125 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (14.6% below list).
• Recommended offer: $171k (14.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• South Redford School District (suburban): math 11% / reading 29% proficiency, ranked #455 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask is 12394% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $158k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,710 (14.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — 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. 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?
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: 0.85% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 9.8

CMA / ARV

• ARV (median comp): $210,408
• List price: $199,900
• Delta: 2.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8915 Wormer Ave	0.08mi	3/1.0	981 (0%)	0mo	$183,500	$187	96
8841 Virgil	0.31mi	3/1.0	1,013 (+3%)	3mo	$185,000	$183	77
9022 Winston	0.24mi	3/1.0	1,020 (+4%)	8mo	$215,000	$211	76
8627 Robindale Ave	0.50mi	3/1.0	980 (-0%)	5mo	$169,000	$172	73
9025 Appleton	0.27mi	3/1.0	1,092 (+11%)	6mo	$205,000	$188	63
24428 W Chicago	0.48mi	2/1.0 (-1)	912 (-7%)	4mo	$95,000	$104	58
8074 Nightingale St	0.75mi	3/1.0	1,020 (+4%)	6mo	$200,000	$196	54
8152 Virgil St	0.61mi	3/1.0	1,061 (+8%)	5mo	$156,000	$147	54
8656 Nightingale Ave. St	0.53mi	2/1.0 (-1)	900 (-8%)	6mo	$128,000	$142	52
25115 Joy Rd	0.49mi	2/1.0 (-1)	870 (-11%)	2mo	$80,000	$92	51
9375 Riverview	0.44mi	3/1.5	1,108 (+13%)	6mo	$210,000	$190	51
8356 Glengary St	0.74mi	3/1.0	1,100 (+12%)	7mo	$253,000	$230	39

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.29×
• Total profit: $-39,822
• Equity at exit: $29,806

10-year hold

• IRR: -12.8%
• Equity multiple: 0.24×
• Total profit: $-42,795
• Equity at exit: $17,284

Cash invested: $55,972 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$342 /mo · $4,101/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-125

Break-even live

Break-even rent $1,865

Max offer price $177,870

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8187 Lenore St Dearborn Heights, MI	2.0	1.0	768	$1,550	$2.02	43d	1	0.47mi
8455 Robindale Ave Dearborn Heights, MI	3.0	1.0	1100	$1,750	$1.59	4d	1	0.58mi
7462 N Vernon St Dearborn Heights, MI	4.0	1.0	1113	$1,900	$1.71	1d	1	0.94mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	17d	1	0.98mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,600	$1.48	4d	1	0.98mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	43d	1	0.98mi
7466 W Parkway St Redford, MI	2.0	1.5	672	$1,200	$1.79	2d	1	1.10mi
7080 Highview St Dearborn Heights, MI	3.0	2.5	1105	$2,000	$1.81	18d	1	1.36mi
7014 Kinmore St Dearborn Heights, MI	3.0	1.0	960	$1,900	$1.98	21d	1	1.44mi
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	43d	1	1.44mi
23851 Fullerton Ave Detroit, MI	1.0–2.0	1.0	700	$999	$1.43	43d	1	1.45mi

Listing history 30 events

1. 2026-06-18
   days on market $199,900 Active 15 DOM
2. 2026-06-17
   days on market $199,900 Active 14 DOM
3. 2026-06-16
   days on market $199,900 Active 13 DOM
4. 2026-06-15
   days on market $199,900 Active 12 DOM
5. 2026-06-13
   days on market $199,900 Active 10 DOM
6. 2026-06-09
   days on market $199,900 Active 6 DOM
7. 2026-06-08
   days on market $199,900 Active 5 DOM
8. 2026-06-07
   days on market $199,900 Active 4 DOM
9. 2026-06-04
   remarks 297-char remark
10. 2026-06-04
    pricedays on marketlisting id $199,900 Active 1 DOM
11. 2026-06-02
    days on market $215,000 Active 26 DOM
12. 2026-06-01
    days on market $215,000 Active 25 DOM
13. 2026-05-31
    days on market $215,000 Active 24 DOM
14. 2026-05-07
    listed $215,000 Active 189-char remark
15. 2026-05-07
    listed $215,000 Active 189-char remark
16. 2026-05-07
    historical
17. 2026-05-07
    historical
18. 2026-04-13
    listed $225,000 Active
19. 2026-04-13
    listed $225,000 Active
20. 2021-06-02
    soldstatus $158,000
21. 2021-05-18
    soldstatus $158,000 Sold
22. 2021-05-18
    soldstatus $158,000 Closed
23. 2021-03-17
    status Pending
24. 2021-03-17
    status Pending
25. 2021-03-15
    status Accepting Backup Offers
26. 2021-03-15
    historical Accepting Backup Offers
27. 2021-03-15
    historical Accepting Backup Offers
28. 2021-03-15
    historical
29. 2021-03-12
    listed $149,000 Active
30. 2021-03-12
    listed $149,000 Active

ⓘ 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: $4,101 · $342/mo
• Projected year-2 tax: $4,101 · $342/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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,485
• − Mortgage interest: −$11,198
• − Property taxes: −$4,101
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$5,815
• Taxable loss: −$4,905
• Est. tax savings @ 24.0%: +$1,177
• After-tax cash flow: $-319/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: South Redford School District
• NCES district ID: 2632280
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $52,775
• Composite: 18.1/100
• National rank: #8972
• State rank: #455 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 36,976
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

-98.9% since first listed

22 events — show timeline

• 2026-06-16 Listed for Rent $1,600 REALSOURCE
• 2026-06-03 Listed $199,900 MiRealSource-MiMLS
• 2026-06-03 Listed $199,900 REALCOMP
• 2026-06-02 Listing Removed — REALCOMP
• 2026-06-02 Listing Removed — MiRealSource-MiMLS
• 2026-05-07 Listing Removed — REALCOMP
• 2026-05-07 Listing Removed — MiRealSource-MiMLS
• 2026-05-07 Listed $215,000 REALCOMP
• 2026-05-07 Listed $215,000 MiRealSource-MiMLS
• 2026-04-13 Listed $225,000 REALCOMP
• 2026-04-13 Listed $225,000 MiRealSource-MiMLS
• 2021-06-02 Sold (Public Records) $158,000 Public Records
• 2021-05-18 Sold (MLS) $158,000 MiRealSource-MiMLS
• 2021-05-18 Sold (MLS) $158,000 REALCOMP
• 2021-03-17 Pending — MiRealSource-MiMLS
• 2021-03-17 Pending — REALCOMP
• 2021-03-15 Relisted — MiRealSource-MiMLS
• 2021-03-15 Contingent — MiRealSource-MiMLS
• 2021-03-15 Contingent — REALCOMP
• 2021-03-15 Listing Removed — MiRealSource-MiMLS
• 2021-03-12 Listed $149,000 MiRealSource-MiMLS
• 2021-03-12 Listed $149,000 REALCOMP

Property tax history

+9.6%/yr

Latest (2025): $4,101 · +2.6% YoY. Source: county tax records.