195 W Greendale · Detroit, MI 48203

$44,900

4 bd · 1.0 ba · 1,456 sqft · SingleFamily public records · 113 Days on market

Built 1923 5,227 sqft lot $31/sqft · 63% below area

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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 +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 195 W Greendale! This Detroit bungalow is 1456 SQFT, 4 bedrooms (2 on each floor), 1.1 baths, with a 1200 SQFT basement. Ready for renovations to make it your own. Schedule a showing today! BTVAI

Key facts

• 5,227 sq ft lot
• Garage
• Built 1923

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.3% 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: 216 active listings in the ZIP; 11 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).
• At $1,477/mo this rent would consume 46% of the median local household income ($38k/yr) (locally 1192% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 30y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 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 1923 — 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: 3.29% ✓
• Cap rate: 28.25%
• Cash-on-cash: 78.42%
• DSCR: 4.49
• GRM: 2.5

CMA / ARV

• ARV (median comp): $121,849
• List price: $44,900
• Delta: -63.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 E Nevada St	0.23mi	3/2.5 (-1)	1,465 (+1%)	15mo	$130,000	$89	65
231 W Brentwood St	0.52mi	3/1.0 (-1)	1,489 (+2%)	17mo	$72,000	$48	53
18615 Orleans St	0.68mi	3/1.5 (-1)	1,516 (+4%)	3mo	$86,500	$57	52
250 W Hollywood	0.52mi	3/1.5 (-1)	1,560 (+7%)	6mo	$59,655	$38	52
140 W Margaret St	0.34mi	3/1.0 (-1)	1,258 (-14%)	8mo	$23,000	$18	50
17421 Oakland St	0.48mi	5/1.5 (+1)	1,269 (-13%)	10mo	$66,000	$52	41
19632 Coventry St	0.74mi	4/1.0	1,300 (-11%)	8mo	$80,000	$62	40
18051 Orleans St	0.67mi	4/2.0	1,300 (-11%)	9mo	$39,000	$30	40
574 W Greendale	0.62mi	4/2.0	1,672 (+15%)	4mo	$135,000	$81	39
18101 Marx St	0.72mi	3/1.5 (-1)	1,291 (-11%)	2mo	$37,500	$29	38
18532 Riopelle St	0.63mi	3/1.0 (-1)	1,248 (-14%)	9mo	$64,000	$51	34
19396 Keating St	0.63mi	3/2.0 (-1)	1,300 (-11%)	12mo	$115,578	$89	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 78.5%
• Equity multiple: 4.59×
• Total profit: $45,097
• Equity at exit: $6,695

10-year hold

• IRR: 82.1%
• Equity multiple: 9.50×
• Total profit: $106,829
• Equity at exit: $3,882

Cash invested: $12,572 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,477 high
• Mortgage (P&I): −$235
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $822

Break-even live

Break-even rent $437

Max offer price $44,900

Occupancy floor 39%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.59mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	0.65mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	17d	1	0.69mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.82mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.84mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.97mi
20008 Hull St Highland Park, MI	5.0	2.0	1332	$1,600	$1.20	17d	1	1.11mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.32mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	1.36mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	1.45mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	11d	1	1.49mi

Listing history 48 events

1. 2026-06-18
   days on market $44,900 Active 113 DOM
2. 2026-06-17
   days on market $44,900 Active 112 DOM
3. 2026-06-15
   days on market $44,900 Active 110 DOM
4. 2026-06-13
   days on market $44,900 Active 108 DOM
5. 2026-06-13
   days on market $44,900 Active 107 DOM
6. 2026-06-09
   days on market $44,900 Active 104 DOM
7. 2026-06-08
   days on market $44,900 Active 103 DOM
8. 2026-06-07
   days on market $44,900 Active 102 DOM
9. 2026-06-04
   days on market $44,900 Active 99 DOM
10. 2026-06-03
    days on market $44,900 Active 98 DOM
11. 2026-06-01
    days on market $44,900 Active 96 DOM
12. 2026-05-31
    days on market $44,900 Active 95 DOM
13. 2026-05-07
    price $44,900 206-char remark

    Show marketing remark (206 chars)

    Welcome to 195 W Greendale! This Detroit bungalow is 1456 SQFT, 4 bedrooms (2 on each floor), 1.1 baths, with a 1200 SQFT basement. Ready for renovations to make it your own. Schedule a showing today! BTVAI

14. 2026-05-07
    price $44,900 206-char remark

    Show marketing remark (206 chars)

    Welcome to 195 W Greendale! This Detroit bungalow is 1456 SQFT, 4 bedrooms (2 on each floor), 1.1 baths, with a 1200 SQFT basement. Ready for renovations to make it your own. Schedule a showing today! BTVAI

15. 2026-02-25
    listed $49,900 Active 206-char remark

    Show marketing remark (206 chars)

    Welcome to 195 W Greendale! This Detroit bungalow is 1456 SQFT, 4 bedrooms (2 on each floor), 1.1 baths, with a 1200 SQFT basement. Ready for renovations to make it your own. Schedule a showing today! BTVAI

16. 2026-02-25
    listed $49,900 Active 206-char remark

    Show marketing remark (206 chars)

    Welcome to 195 W Greendale! This Detroit bungalow is 1456 SQFT, 4 bedrooms (2 on each floor), 1.1 baths, with a 1200 SQFT basement. Ready for renovations to make it your own. Schedule a showing today! BTVAI

17. 2026-02-16
    historical
18. 2025-12-17
    price $39,900
19. 2025-12-16
    price $39,900
20. 2025-09-21
    price $49,900
21. 2025-09-21
    price $49,900
22. 2025-08-14
    price $59,900
23. 2025-08-14
    price $59,900
24. 2025-07-29
    listed $79,900 Active
25. 2025-07-29
    listed $79,900 Active
26. 2015-05-26
    historical
27. 2015-05-25
    historical
28. 2015-04-08
    listed $3,000 Active
29. 2015-04-08
    listed $3,000
30. 2014-03-01
    historical
31. 2014-03-01
    historical
32. 2013-08-11
    listed $2,000
33. 2013-08-11
    listed $2,000
34. 2013-08-11
    historical
35. 2013-08-11
    historical
36. 2013-08-08
    listed $3,000
37. 2013-08-08
    listed $3,000
38. 2006-10-18
    soldstatus $105,000
39. 2005-12-31
    historical
40. 2004-12-09
    soldstatus $18,000
41. 2004-11-03
    listed $29,900
42. 2004-11-03
    historical
43. 2004-10-19
    listed $40,000
44. 2004-10-19
    listed $40,000
45. 2003-11-13
    soldstatus $55,000
46. 1997-03-11
    historical
47. 1996-07-11
    listed $39,900
48. 1992-09-25
    soldstatus $8,000

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,093 · $91/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,725
• − Mortgage interest: −$2,515
• − Property taxes: −$1,093
• − Insurance: −$224
• − Repairs & maintenance: −$1,418
• − Management: −$1,418
• − Depreciation: −$1,306
• Taxable income: $9,750
• Est. tax owed @ 24.0%: −$2,340
• After-tax cash flow: $7,519/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -90.13%
• Current HPI: 297.0176
• 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

+461.2% since first listed

36 events — show timeline

• 2026-05-07 Price Changed $44,900 MiRealSource-MiMLS
• 2026-05-07 Price Changed $44,900 REALCOMP
• 2026-02-25 Listed $49,900 REALCOMP
• 2026-02-25 Listed $49,900 MiRealSource-MiMLS
• 2026-02-16 Listing Removed — MiRealSource-MiMLS
• 2025-12-17 Price Changed $39,900 MiRealSource-MiMLS
• 2025-12-16 Price Changed $39,900 REALCOMP
• 2025-09-21 Price Changed $49,900 MiRealSource-MiMLS
• 2025-09-21 Price Changed $49,900 REALCOMP
• 2025-08-14 Price Changed $59,900 MiRealSource-MiMLS
• 2025-08-14 Price Changed $59,900 REALCOMP
• 2025-07-29 Listed $79,900 REALCOMP
• 2025-07-29 Listed $79,900 MiRealSource-MiMLS
• 2015-05-26 Listing Removed — REALCOMP
• 2015-05-25 Listing Removed — MiRealSource-MiMLS
• 2015-04-08 Listed $3,000 REALCOMP
• 2015-04-08 Listed $3,000 MiRealSource-MiMLS
• 2014-03-01 Listing Removed — REALCOMP
• 2014-03-01 Listing Removed — MiRealSource-MiMLS
• 2013-08-11 Listing Removed — MiRealSource-MiMLS
• 2013-08-11 Listing Removed — REALCOMP
• 2013-08-11 Listed $2,000 REALCOMP
• 2013-08-11 Listed $2,000 MiRealSource-MiMLS
• 2013-08-08 Listed $3,000 MiRealSource-MiMLS
• 2013-08-08 Listed $3,000 REALCOMP
• 2006-10-18 Sold (Public Records) $105,000 Public Records
• 2005-12-31 Listing Removed — MiRealSource-MiMLS
• 2004-12-09 Sold (MLS) $18,000 REALCOMP
• 2004-11-03 Listing Removed — REALCOMP
• 2004-11-03 Listed $29,900 REALCOMP
• 2004-10-19 Listed $40,000 REALCOMP
• 2004-10-19 Listed $40,000 MiRealSource-MiMLS
• 2003-11-13 Sold (Public Records) $55,000 Public Records
• 1997-03-11 Listing Removed — REALCOMP
• 1996-07-11 Listed $39,900 REALCOMP
• 1992-09-25 Sold (Public Records) $8,000 Public Records

Property tax history

-2.7%/yr

Latest (2025): $1,093 · -53.8% YoY. Source: county tax records.