4598 Lodewyck St · Detroit, MI 48224

$73,000

3 bd · 1.0 ba · 636 sqft · SingleFamily public records · 91 Days on market

Built 1947 5,227 sqft lot $115/sqft · 61% above area Est $71k · at est.

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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 +6.3/15.0
• 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

CHARMING 3 BR RANCH HOME NEAR GROSSE POINTE BORDER FOR UNDER 100K! Sitting on a nice sized lot with wide driveway and detached garage/work area. This low maintenance home features gorgeous hardwood flooring, spacious living room and large private upper primary bedroom. Yard is large and fenced. Great location near Finney high school, Balduck park and all the amenities of neighboring suburbs. Purchaser to pay $495 processing fee to the listing broker at closing. Buyer will receive a clean title, warranty deed, and title insurance! Call/Text for showings today.

Key facts

• Large fenced yard
• Wide driveway
• 5,227 sq ft lot

Tags

• WIDE DRIVEWAY
• DETACHED GARAGE WORK AREA
• LARGE FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $66k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 10.2% 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; 484 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 36% 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 $505 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,430 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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: 1.83% ✓
• Cap rate: 15.14%
• Cash-on-cash: 31.61%
• DSCR: 2.41
• GRM: 4.6

CMA / ARV

• ARV (median comp): $71,082
• List price: $73,000
• Delta: 2.70%
• 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
4528 Marseilles St	0.08mi	3/1.0	637 (+0%)	7mo	$77,500	$122	90
4607 Radnor St	0.07mi	2/1.0 (-1)	731 (+15%)	2mo	$50,000	$68	65
4811 Radnor St	0.09mi	2/1.0 (-1)	719 (+13%)	10mo	$50,000	$70	61
5036 Farmbrook St	0.22mi	2/1.0 (-1)	670 (+5%)	18mo	$28,000	$42	61
5558 Radnor St	0.49mi	2/1.0 (-1)	660 (+4%)	6mo	$18,000	$27	61
5031 Anatole St	0.40mi	2/1.0 (-1)	654 (+3%)	18mo	$85,000	$130	56
5310 Lafontaine St	0.52mi	2/1.0 (-1)	629 (-1%)	16mo	$69,900	$111	56
5220 Lafontaine St	0.49mi	2/1.0 (-1)	604 (-5%)	14mo	$30,500	$50	52
5251 Neff Ave	0.46mi	2/1.0 (-1)	720 (+13%)	2mo	$46,000	$64	50
5298 Neff Ave	0.47mi	2/1.0 (-1)	720 (+13%)	2mo	$46,000	$64	50
5290 University Pl	0.41mi	2/1.0 (-1)	721 (+13%)	5mo	$60,000	$83	49
5546 Neff Ave	0.54mi	2/1.0 (-1)	720 (+13%)	14mo	$74,900	$104	37

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: 23.9%
• Equity multiple: 1.95×
• Total profit: $19,509
• Equity at exit: $10,885

10-year hold

• IRR: 30.3%
• Equity multiple: 3.43×
• Total profit: $49,575
• Equity at exit: $6,312

Cash invested: $20,440 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,333 high
• Mortgage (P&I): −$383
• Tax from tax record: −$101 /mo · $1,215/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $538

Break-even live

Break-even rent $651

Max offer price $73,000

Occupancy floor 55%

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	43d	1	0.55mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	22d	1	0.55mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	43d	1	0.55mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	43d	1	0.55mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	24d	1	1.26mi

Listing history 50 events

1. 2026-06-18
   days on market $73,000 Active 91 DOM
2. 2026-06-17
   days on market $73,000 Active 90 DOM
3. 2026-06-15
   days on market $73,000 Active 88 DOM
4. 2026-06-13
   days on market $73,000 Active 86 DOM
5. 2026-06-13
   days on market $73,000 Active 85 DOM
6. 2026-06-09
   days on market $73,000 Active 82 DOM
7. 2026-06-08
   days on market $73,000 Active 81 DOM
8. 2026-06-07
   pricedays on market $73,000 Active 80 DOM
9. 2026-06-04
   days on market $75,000 Active 77 DOM
10. 2026-06-03
    days on market $75,000 Active 76 DOM
11. 2026-06-01
    days on market $75,000 Active 74 DOM
12. 2026-05-31
    days on market $75,000 Active 73 DOM
13. 2026-03-19
    listed $75,000 Active 565-char remark

    Show marketing remark (567 chars)

    CHARMING 3 BR RANCH HOME NEAR GROSSE POINTE BORDER FOR UNDER 100K! Sitting on a nice sized lot with wide driveway and detached garage/work area. This low maintenance home features gorgeous hardwood flooring, spacious living room and large private upper primary bedroom. Yard is large and fenced. Great location near Finney high school, Balduck park and all the amenities of neighboring suburbs. Purchaser to pay $495 processing fee to the listing broker at closing. Buyer will receive a clean title, warranty deed, and title insurance! Call/Text for showings today.

14. 2026-03-19
    listed $75,000 Active 567-char remark

    Show marketing remark (567 chars)

    CHARMING 3 BR RANCH HOME NEAR GROSSE POINTE BORDER FOR UNDER 100K! Sitting on a nice sized lot with wide driveway and detached garage/work area. This low maintenance home features gorgeous hardwood flooring, spacious living room and large private upper primary bedroom. Yard is large and fenced. Great location near Finney high school, Balduck park and all the amenities of neighboring suburbs. Purchaser to pay $495 processing fee to the listing broker at closing. Buyer will receive a clean title, warranty deed, and title insurance! Call/Text for showings today.

15. 2025-12-23
    historical
16. 2025-12-23
    historical
17. 2025-06-05
    price $91,900
18. 2025-06-05
    listed $919,000 Active
19. 2025-06-05
    listed $91,900 Active
20. 2025-05-07
    historical
21. 2025-05-07
    historical
22. 2025-01-15
    listed $91,900 Active
23. 2025-01-15
    listed $91,900 Active
24. 2025-01-01
    historical
25. 2025-01-01
    historical
26. 2024-09-23
    price $91,900
27. 2024-09-23
    price $91,900
28. 2024-08-22
    price $93,000
29. 2024-08-21
    price $93,000
30. 2024-06-26
    listed $99,000 Active
31. 2024-06-26
    listed $99,000 Active
32. 2021-09-07
    soldstatus $65,900
33. 2021-06-02
    soldstatus $27,500 Sold
34. 2021-06-02
    soldstatus $27,500 Closed
35. 2021-06-01
    status Pending
36. 2021-06-01
    status Pending
37. 2021-05-30
    price $30,000
38. 2021-05-29
    price $30,000
39. 2021-05-28
    price $35,000
40. 2021-05-28
    price $35,000
41. 2021-05-27
    status Active
42. 2021-05-27
    status Active
43. 2021-05-11
    status Pending
44. 2021-05-11
    status Pending
45. 2021-05-11
    price $29,000
46. 2021-05-11
    price $29,000
47. 2021-05-11
    status Active
48. 2021-05-11
    status Active
49. 2021-05-10
    status Pending
50. 2021-05-10
    status Pending

ⓘ 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: $1,215 · $101/mo
• Projected year-2 tax: $1,215 · $101/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $15,992
• − Mortgage interest: −$4,089
• − Property taxes: −$1,215
• − Insurance: −$365
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$2,124
• Taxable income: $5,641
• Est. tax owed @ 24.0%: −$1,354
• After-tax cash flow: $5,106/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

+403.4% since first listed

52 events — show timeline

• 2026-03-19 Listed $75,000 REALCOMP
• 2026-03-19 Listed $75,000 MiRealSource-MiMLS
• 2025-12-23 Listing Removed — MiRealSource-MiMLS
• 2025-12-23 Listing Removed — REALCOMP
• 2025-06-05 Price Changed $91,900 REALCOMP
• 2025-06-05 Listed $919,000 REALCOMP
• 2025-06-05 Listed $91,900 MiRealSource-MiMLS
• 2025-05-07 Listing Removed — REALCOMP
• 2025-05-07 Listing Removed — MiRealSource-MiMLS
• 2025-01-15 Listed $91,900 REALCOMP
• 2025-01-15 Listed $91,900 MiRealSource-MiMLS
• 2025-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-01-01 Listing Removed — REALCOMP
• 2024-09-23 Price Changed $91,900 MiRealSource-MiMLS
• 2024-09-23 Price Changed $91,900 REALCOMP
• 2024-08-22 Price Changed $93,000 MiRealSource-MiMLS
• 2024-08-21 Price Changed $93,000 REALCOMP
• 2024-06-26 Listed $99,000 REALCOMP
• 2024-06-26 Listed $99,000 MiRealSource-MiMLS
• 2021-09-07 Sold (Public Records) $65,900 Public Records
• 2021-06-02 Sold (MLS) $27,500 MiRealSource-MiMLS
• 2021-06-02 Sold (MLS) $27,500 REALCOMP
• 2021-06-01 Pending — MiRealSource-MiMLS
• 2021-06-01 Pending — REALCOMP
• 2021-05-30 Price Changed $30,000 MiRealSource-MiMLS
• 2021-05-29 Price Changed $30,000 REALCOMP
• 2021-05-28 Price Changed $35,000 MiRealSource-MiMLS
• 2021-05-28 Price Changed $35,000 REALCOMP
• 2021-05-27 Relisted — MiRealSource-MiMLS
• 2021-05-27 Relisted — REALCOMP
• 2021-05-11 Pending — MiRealSource-MiMLS
• 2021-05-11 Pending — REALCOMP
• 2021-05-11 Price Changed $29,000 MiRealSource-MiMLS
• 2021-05-11 Price Changed $29,000 REALCOMP
• 2021-05-11 Relisted — MiRealSource-MiMLS
• 2021-05-11 Relisted — REALCOMP
• 2021-05-10 Pending — MiRealSource-MiMLS
• 2021-05-10 Pending — REALCOMP
• 2021-05-05 Relisted — MiRealSource-MiMLS
• 2021-05-05 Relisted — REALCOMP
• 2021-04-30 Pending — MiRealSource-MiMLS
• 2021-04-30 Pending — REALCOMP
• 2021-04-21 Relisted — MiRealSource-MiMLS
• 2021-04-21 Relisted — REALCOMP
• 2021-04-19 Pending — MiRealSource-MiMLS
• 2021-04-19 Pending — REALCOMP
• 2021-04-03 Listed $29,900 MiRealSource-MiMLS
• 2021-04-03 Listed $29,900 REALCOMP
• 2013-05-23 Listing Removed — REALCOMP
• 2013-05-23 Listing Removed — MiRealSource-MiMLS
• 2013-03-21 Listed $14,900 REALCOMP
• 2013-03-21 Listed $14,900 MiRealSource-MiMLS

Property tax history

+2.6%/yr

Latest (2025): $1,215 · -53.9% YoY. Source: county tax records.