6953 N Vernon St · Dearborn Heights, MI 48127

$130,000

3 bd · 1.0 ba · 1,006 sqft · SingleFamily public records · 3 Days on market

Built 1950 5,663 sqft lot Est $182k · 29% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * MULTIPLE OFFERS RECEIVED. . Please submit your highest and best offer by 7pm on 5-24-26 with proof of funds. Allow 24 hours for a response. Charming 1,000 sq. ft. bungalow in the heart of Dearborn Heights offering great potential for homeowners or investors alike! Built in 1950, this home features a functional layout with a full basement and a detached two-car garage, providing plenty of storage and workspace options. Inside, you'll find hardwood flooring in two bedrooms. The kitchen appliances are included. Conveniently located near shopping, dining, parks, and major roadways, this property is ready for your personal touch. Home is being sold as-is. Don't miss the chance to make this classic bungalow your own!

Key facts

• Hardwood flooring
• Full basement
• 5,663 sq ft lot

Tags

• FULL BASEMENT
• DETACHED TWO-CAR GARAGE
• HARDWOOD FLOORING
• KITCHEN APPLIANCES INCLUDED

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Ground-level entry with steps; Brick exterior
• Construction: Built with block foundation
• Exterior features: Asphalt roof; Paved road access; Lot approximately 0.13 acres (42 x 132 x 42 x 132)

Interior

• Kitchen: Free-standing gas oven; Free-standing refrigerator; Gas water heater
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfurnished; Full unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.8% vs local median 5.5% in Dearborn Heights — 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 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment D+, health & safety D+.
• Crestwood School District (suburban): math 32% / reading 43% proficiency, ranked #242 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside Middle School (math 37% / reading 57%, grade D+, #143 of 493 statewide, top 30%, 1,172 students, 78% FRL); Crestwood High School (math 36% / reading 48%, grade F, #264 of 713 statewide, top 41%, 1,336 students, 72% FRL) — zoned schools average 75% FRL vs 59% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 148 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 35% of the median local income ($61k/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 $899 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.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 1.36% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.22%
• DSCR: 1.72
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $182,086
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6953 N Vernon St	0.00mi	3/1.0	1,006 (0%)	1mo	$190,000	$189	99
6556 Drexel St	0.26mi	3/1.0	988 (-2%)	2mo	$230,000	$233	84
6564 N Waverly St	0.37mi	3/1.0	1,014 (+1%)	2mo	$160,000	$158	80
6822 N Lafayette St	0.16mi	3/1.0	1,080 (+7%)	0mo	$150,000	$139	80
6627 Mayburn St	0.22mi	3/1.0	960 (-5%)	5mo	$160,000	$167	78
24903 Hass St	0.49mi	3/1.5	999 (-1%)	5mo	$255,000	$255	70
7420 Fenton St	0.27mi	2/1.0 (-1)	1,080 (+7%)	2mo	$160,000	$148	69
6894 N Gulley Rd	0.55mi	3/1.5	999 (-1%)	6mo	$235,000	$235	66
7302 Nightingale St	0.47mi	3/1.0	1,118 (+11%)	4mo	$155,000	$139	57
5955 N Silvery Ln	0.74mi	2/1.0 (-1)	975 (-3%)	4mo	$224,900	$231	52
6062 Fenton St	0.58mi	2/2.0 (-1)	1,130 (+12%)	1mo	$205,000	$181	43
6165 Nightingale St	0.67mi	2/1.0 (-1)	864 (-14%)	1mo	$150,000	$174	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 · 0.41% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.16×
• Total profit: $5,819
• Equity at exit: $19,383

10-year hold

• IRR: 11.2%
• Equity multiple: 1.77×
• Total profit: $28,084
• Equity at exit: $11,240

Cash invested: $36,400 (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 48127

• Rents YoY: 0.4%
• Active inventory: 148
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,762 high
• Mortgage (P&I): −$682
• Tax from tax record: −$164 /mo · $1,973/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $492

Break-even live

Break-even rent $1,140

Max offer price $130,000

Occupancy floor 67%

Sensitivity live

Price	-10% $566	-5% $529	+0% $492	+5% $455	+10% $418
Rent	-10% $353	-5% $422	+0% $492	+5% $562	+10% $631
Rate	-1.0pp $557	-0.5pp $525	base $492	+0.5pp $458	+1.0pp $424

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6978 Mayburn St Dearborn Heights, MI	3.0	2.0	1250	$1,800	$1.44	45d	1	0.16mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	45d	1	0.28mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,600	$1.48	6d	1	0.28mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	19d	1	0.28mi
7462 N Vernon St Dearborn Heights, MI	4.0	1.0	1113	$1,900	$1.71	0d	1	0.30mi
7080 Highview St Dearborn Heights, MI	3.0	2.5	1105	$2,000	$1.81	19d	1	0.48mi
7014 Kinmore St Dearborn Heights, MI	3.0	1.0	960	$1,900	$1.98	23d	1	0.60mi
7618 Hazelton St Dearborn Heights, MI	3.0	1.0	1310	$1,700	$1.30	19d	1	0.77mi
8187 Lenore St Dearborn Heights, MI	2.0	1.0	768	$1,550	$2.02	45d	1	0.78mi
22330 W Warren Ave Redford Charter Twp, MI	2.0	1.0	750	$1,200	$1.60	45d	1	0.99mi
8402 Robindale Ave Dearborn Heights, MI	3.0	1.0	1190	$1,600	$1.34	16d	1	0.99mi
8455 Robindale Ave Dearborn Heights, MI	3.0	1.0	1100	$1,750	$1.59	6d	1	1.04mi
181 Terri Dr Unit 181 Dearborn Heights, MI	2.0	2.0	840	$1,119	$1.33	6d	1	1.09mi
8254 W Parkway St Redford, MI	3.0	1.0	1220	$1,350	$1.11	14d	1	1.09mi
79 3rd St Unit 79 Dearborn Heights, MI	2.0	1.0	840	$1,339	$1.59	26d	1	1.15mi
5722 Centralia St Dearborn Heights, MI	3.0	1.0	999	$1,750	$1.75	0d	1	1.17mi
26620 Baldwin St Dearborn Heights, MI	3.0	1.5	1156	$1,800	$1.56	0d	1	1.34mi

Listing history 2 events

1. 2026-05-22
   listed $130,000 Active

   Show marketing remark (728 chars)

   * * * MULTIPLE OFFERS RECEIVED. . Please submit your highest and best offer by 7pm on 5-24-26 with proof of funds. Allow 24 hours for a response. Charming 1,000 sq. ft. bungalow in the heart of Dearborn Heights offering great potential for homeowners or investors alike! Built in 1950, this home features a functional layout with a full basement and a detached two-car garage, providing plenty of storage and workspace options. Inside, you'll find hardwood flooring in two bedrooms. The kitchen appliances are included. Conveniently located near shopping, dining, parks, and major roadways, this property is ready for your personal touch. Home is being sold as-is. Don't miss the chance to make this classic bungalow your own!

2. 2026-05-22
   listed $130,000 Active 728-char remark

   Show marketing remark (728 chars)

   * * * MULTIPLE OFFERS RECEIVED. . Please submit your highest and best offer by 7pm on 5-24-26 with proof of funds. Allow 24 hours for a response. Charming 1,000 sq. ft. bungalow in the heart of Dearborn Heights offering great potential for homeowners or investors alike! Built in 1950, this home features a functional layout with a full basement and a detached two-car garage, providing plenty of storage and workspace options. Inside, you'll find hardwood flooring in two bedrooms. The kitchen appliances are included. Conveniently located near shopping, dining, parks, and major roadways, this property is ready for your personal touch. Home is being sold as-is. Don't miss the chance to make this classic bungalow your own!

ⓘ 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: $1,973 · $164/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$14/yr (+$1/mo · 0.7%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,149
• − Mortgage interest: −$7,282
• − Property taxes: −$1,973
• − Insurance: −$650
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$3,782
• Taxable income: $4,078
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $4,925/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: Crestwood School District
• NCES district ID: 2600016
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $47,101
• Composite: 32.1/100
• National rank: #5806
• State rank: #242 of 540 in MI

Livability — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

Amenities B- Commute A+ Cost of living A+ Crime D+ Employment D+ Housing A+ Health & safety D+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,646
• Household income: $60,742
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1196.0

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 White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Arab 8% Romanian 7% Lithuanian 2%
• Foreign-born: 31% · Canada
• Languages at home: 46% English-only · Arabic 45% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -319.04%
• Current HPI: 225.9407
• Rent YoY: ▲ 0.41%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $130,000 MiRealSource-MiMLS
• 2026-05-22 Listed $130,000 REALCOMP

Property tax history

-0.8%/yr

Latest (2025): $1,973 · -27.6% YoY. Source: county tax records.