10388 Cedarlawn St · Detroit, MI 48204

$184,900

3 bd · 2.0 ba · 2,304 sqft · SingleFamily public records · 36 Days on market

Built 1925 4,356 sqft lot $80/sqft · 167% above area

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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 +11.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Schools +1.3/10.0

Listing remarks MLS

Great opportunity to own a multi-family home, perfect for rental income or multi-generational living. This well-maintained home features two spacious units. The first-floor unit includes 2 bedrooms and an expansive 600 sq ft bonus room originally designed with handicap accessibility in mind - ideal for a home office, additional living space, or recreation. The upper unit offers a 1-bedroom, 1-bath layout, providing a cozy and private setting. This home has endless opportunities. A must see in person.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-69 ($-829/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (29.6% below list).
• Recommended offer: $130k (29.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Mackenzie Elementarymiddle School (math 2% / reading 2%, grade F, #1,384 of 1,397 statewide, top 100%, 909 students, 88% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 248 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• At $1,302/mo this rent would consume 45% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k 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 $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,159 (29.6% 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. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.60%
• DSCR: 0.93
• GRM: 11.8

CMA / ARV

• ARV (median comp): $87,361
• List price: $184,900
• Delta: 111.65%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9685 Pinehurst St	0.31mi	3/1.0	2,090 (-9%)	18mo	$57,900	$28	51
11435 Wyoming St	0.25mi	4/2.5 (+1)	2,073 (-10%)	19mo	$39,000	$19	49
9615 Sorrento Ave	0.56mi	3/1.0	2,404 (+4%)	20mo	$55,000	$23	46
12666 Ilene St	0.63mi	3/1.5	2,429 (+5%)	19mo	$35,000	$14	44
9644 Littlefield St	0.67mi	4/2.5 (+1)	2,145 (-7%)	9mo	$65,000	$30	43
9420 Pinehurst St	0.51mi	3/1.5	2,062 (-10%)	19mo	$70,000	$34	41
9942 Cheyenne St	0.59mi	3/1.5	2,078 (-10%)	21mo	$47,000	$23	36

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: 23.1%
• Equity multiple: 2.86×
• Total profit: $96,212
• Equity at exit: $166,573

10-year hold

• IRR: 20.6%
• Equity multiple: 6.54×
• Total profit: $286,605
• Equity at exit: $359,220

Cash invested: $51,772 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$970
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-69

Break-even live

Break-even rent $1,389

Max offer price $172,701

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-17	+0% $-69	+5% $-121	+10% $-174
Rent	-10% $-172	-5% $-120	+0% $-69	+5% $-18	+10% $34
Rate	-1.0pp $24	-0.5pp $-22	base $-69	+0.5pp $-117	+1.0pp $-166

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	26d	1	0.60mi
9260 Manor St Detroit, MI	2.0	1.0	2760	$950	$0.34	45d	1	0.67mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	45d	1	0.72mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	45d	1	1.13mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	26d	1	1.19mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	22d	1	1.33mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	6d	1	1.35mi

Listing history 5 events

1. 2026-05-15
   status Pending 505-char remark

   Show marketing remark (509 chars)

   Great opportunity to own a multi-family home, perfect for rental income or multi-generational living. This well-maintained home features two spacious units. The first-floor unit includes 2 bedrooms and an expansive 600 sq ft bonus room originally designed with handicap accessibility in mind—ideal for a home office, additional living space, or recreation. The upper unit offers a 1-bedroom, 1-bath layout, providing a cozy and private setting. This home has endless opportunities. A must see in person.

2. 2026-05-15
   status Pending 509-char remark

   Show marketing remark (509 chars)

   Great opportunity to own a multi-family home, perfect for rental income or multi-generational living. This well-maintained home features two spacious units. The first-floor unit includes 2 bedrooms and an expansive 600 sq ft bonus room originally designed with handicap accessibility in mind—ideal for a home office, additional living space, or recreation. The upper unit offers a 1-bedroom, 1-bath layout, providing a cozy and private setting. This home has endless opportunities. A must see in person.

3. 2026-04-10
   listed $184,900 Active 509-char remark

   Show marketing remark (505 chars)

   Great opportunity to own a multi-family home, perfect for rental income or multi-generational living. This well-maintained home features two spacious units. The first-floor unit includes 2 bedrooms and an expansive 600 sq ft bonus room originally designed with handicap accessibility in mind - ideal for a home office, additional living space, or recreation. The upper unit offers a 1-bedroom, 1-bath layout, providing a cozy and private setting. This home has endless opportunities. A must see in person.

4. 2026-04-10
   listed $184,900 Active 505-char remark

   Show marketing remark (505 chars)

   Great opportunity to own a multi-family home, perfect for rental income or multi-generational living. This well-maintained home features two spacious units. The first-floor unit includes 2 bedrooms and an expansive 600 sq ft bonus room originally designed with handicap accessibility in mind - ideal for a home office, additional living space, or recreation. The upper unit offers a 1-bedroom, 1-bath layout, providing a cozy and private setting. This home has endless opportunities. A must see in person.

5. 2026-04-08
   historical $184,900 505-char remark

   Show marketing remark (505 chars)

   Great opportunity to own a multi-family home, perfect for rental income or multi-generational living. This well-maintained home features two spacious units. The first-floor unit includes 2 bedrooms and an expansive 600 sq ft bonus room originally designed with handicap accessibility in mind - ideal for a home office, additional living space, or recreation. The upper unit offers a 1-bedroom, 1-bath layout, providing a cozy and private setting. This home has endless opportunities. A must see in person.

ⓘ 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: $608 · $51/mo
• Projected year-2 tax: $1,728 · $144/mo
• Expected delta: +$1,120/yr (+$93/mo · 184.3%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,619
• − Mortgage interest: −$10,357
• − Property taxes: −$608
• − Insurance: −$924
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$5,379
• Taxable loss: −$4,148
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $167/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• Rent YoY: —
• 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

5 events — show timeline

• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-04-10 Listed $184,900 REALCOMP
• 2026-04-10 Listed $184,900 MiRealSource-MiMLS
• 2026-04-08 Coming Soon $184,900 MiRealSource-MiMLS

Property tax history

-3.0%/yr

Latest (2025): $608 · -37.1% YoY. Source: county tax records.