4522 Hereford St · Detroit, MI 48224

$119,900

4 bd · 1.5 ba · 1,942 sqft · Townhouse public records · 272 Days on market

Built 1930 8,712 sqft lot

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Why this score? — see what drove the C+ 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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

Key facts

• Separate utilities
• Brick duplex
• Florida room

Tags

• BRICK DUPLEX
• FLORIDA ROOM
• SEPARATE UTILITIES
• SPACIOUS LIVING AREAS
• LARGE FENCED BACKYARD

Property features AI

Finance

• Other: Above-grade finished area approximately 1,942 square feet; Unit sizes: one 2-bedroom unit (~950 sq ft) and one 3-bedroom unit (~950 sq ft)
• Financial info: Income property (residential income, multi-family)

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Two-story building; 50 x 175 lot (approximately 0.2 acres); Residential zoning
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Paved road access; Pets allowed

Interior

• Bedrooms: Two-bedroom unit; Three-bedroom unit
• Bathrooms: Two full bathrooms (building total); Each unit has one bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling reported
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

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; 484 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 41% 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 $829 of loan paydown is wiped out by about $4k 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 272 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 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 1930 — 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: 1.29% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.05%
• DSCR: 1.63
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $2,184
• Equity at exit: $17,877

10-year hold

• IRR: 9.0%
• Equity multiple: 1.62×
• Total profit: $20,701
• Equity at exit: $10,367

Cash invested: $33,572 (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: 484
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $393

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 70%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5944 Marseilles St Detroit, MI	3.0	1.0	1910	$1,300	$0.68	17d	1	0.83mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	43d	1	0.99mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	1.07mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	1.22mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.22mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.26mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	1d	1	1.27mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	43d	1	1.28mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	1.30mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	1.33mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.39mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	1.41mi
371 Neff Rd Grosse Pointe, MI	3.0	1.5	1835	$2,395	$1.31	24d	1	1.50mi

Listing history 27 events

1. 2026-06-04
   status $119,900 Pending 272 DOM
2. 2026-06-03
   statusdays on market $119,900 Active 272 DOM
3. 2026-06-01
   days on market $119,900 Active Under Contract 270 DOM
4. 2026-05-31
   days on market $119,900 Active Under Contract 269 DOM
5. 2026-02-16
   historical Accepting Backup Offers 290-char remark

   Show marketing remark (290 chars)

   Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

6. 2026-02-16
   historical Active Under Contract

   Show marketing remark (290 chars)

   Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

7. 2025-12-29
   price $119,900 290-char remark

   Show marketing remark (290 chars)

   Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

8. 2025-12-28
   price $119,900
9. 2025-12-02
   price $125,000 290-char remark

   Show marketing remark (290 chars)

   Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

10. 2025-12-01
    price $125,000
11. 2025-11-10
    price $129,900 290-char remark

    Show marketing remark (290 chars)

    Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

12. 2025-11-09
    price $129,900
13. 2025-10-04
    price $133,999 290-char remark

    Show marketing remark (290 chars)

    Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

14. 2025-10-03
    price $133,999
15. 2025-09-04
    listed $134,999 Active 290-char remark

    Show marketing remark (290 chars)

    Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

16. 2025-09-04
    listed $134,999 Active

    Show marketing remark (290 chars)

    Move-in ready brick duplex in Cornerstone Village. Each unit has 2 bedrooms, 1 bath, and a Florida room that could be used as a third bedroom or office. Features separate utilities, spacious living areas, and a large fenced backyard. Great option for investors or multi-generational living.

17. 2025-02-27
    historical
18. 2025-02-27
    historical
19. 2024-11-26
    price $130,000
20. 2024-11-26
    price $130,000
21. 2024-10-18
    status Active
22. 2024-10-15
    historical
23. 2024-08-26
    listed $155,000 Active
24. 2024-08-26
    listed $155,000 Active
25. 2024-04-16
    soldstatus $144,500
26. 2024-01-24
    soldstatus $99,000
27. 2019-03-13
    soldstatus $72,500

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 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: $18,559
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$3,488
• Taxable income: $2,987
• Est. tax owed @ 24.0%: −$717
• After-tax cash flow: $4,002/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

+65.4% since first listed

23 events — show timeline

• 2026-02-16 Contingent — MiRealSource-MiMLS
• 2026-02-16 Contingent — REALCOMP
• 2025-12-29 Price Changed $119,900 MiRealSource-MiMLS
• 2025-12-28 Price Changed $119,900 REALCOMP
• 2025-12-02 Price Changed $125,000 MiRealSource-MiMLS
• 2025-12-01 Price Changed $125,000 REALCOMP
• 2025-11-10 Price Changed $129,900 MiRealSource-MiMLS
• 2025-11-09 Price Changed $129,900 REALCOMP
• 2025-10-04 Price Changed $133,999 MiRealSource-MiMLS
• 2025-10-03 Price Changed $133,999 REALCOMP
• 2025-09-04 Listed $134,999 REALCOMP
• 2025-09-04 Listed $134,999 MiRealSource-MiMLS
• 2025-02-27 Listing Removed — MiRealSource-MiMLS
• 2025-02-27 Listing Removed — REALCOMP
• 2024-11-26 Price Changed $130,000 MiRealSource-MiMLS
• 2024-11-26 Price Changed $130,000 REALCOMP
• 2024-10-18 Relisted — MiRealSource-MiMLS
• 2024-10-15 Listing Removed — MiRealSource-MiMLS
• 2024-08-26 Listed $155,000 REALCOMP
• 2024-08-26 Listed $155,000 MiRealSource-MiMLS
• 2024-04-16 Sold (Public Records) $144,500 Public Records
• 2024-01-24 Sold (Public Records) $99,000 Public Records
• 2019-03-13 Sold (Public Records) $72,500 Public Records

Property tax history

+12.6%/yr

Latest (2025): $6,224 · -48.4% YoY. Source: county tax records.