1857 Roslyn Rd

Grosse Pointe Woods, MI 48236

$299,900F

3 bd · 1.0 ba · 1,342 sqft · Built 1941 · SingleFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,913/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$660
• HOA: −$0
• Vac / Maint / Mgmt: −$402
• Net cashflow: $-722/mo
• Annual: $-8,659/yr
• Cap rate: 3.41%
• Cash-on-cash: -10.31%
• DSCR: 0.54
• 1% rule: 0.64%
• Cash to close: $83,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $-722 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (42.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (36.2% below list).
• It's been on market 27 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (42.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#34 in MI, #643 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: health & safety D+, amenities F.
• Grosse Pointe Public Schools (suburban): math 56% / reading 68% proficiency, ranked #24 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Stevens T Mason Elementary School (math 42% / reading 37%, grade F, #606 of 1,397 statewide, top 48%, 301 students, 45% FRL); Parcells Middle School (math 43% / reading 56%, grade C, #127 of 493 statewide, top 26%, 677 students, 36% FRL); Grosse Pointe North High School (math 45% / reading 73%, grade C+, #87 of 713 statewide, top 12%, 1,081 students, 31% FRL) — zoned schools average 37% FRL vs 13% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 49% at this address vs 62% district-wide (-13 pts) — the specific schools serving this property underperform the Grosse Pointe Public Schools average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 162 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 14 sale attempts since 32y 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.

Questions for listing agent

• 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?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.
• 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.