15444 Heyden St · Detroit, MI 48223

$88,000

3 bd · 2.0 ba · 1,206 sqft · SingleFamily public records · 237 Days on market

Built 1949 4,792 sqft lot $73/sqft · 27% below area Est $120k · 27% under ↓ 2% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great Opportunity to own this single-family home built in 1949 featuring 3 bedrooms and 1.5 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1949

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 10.0% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 161 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $608 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 23y 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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: 1.53% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.02%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $120,073
• List price: $88,000
• Delta: -26.71%
• 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
15751 Vaughan St	0.16mi	3/1.5	1,244 (+3%)	2mo	$110,000	$88	84
15776 Vaughan St	0.20mi	3/1.5	1,255 (+4%)	9mo	$165,000	$131	75
15518 Kentfield St	0.09mi	3/1.5	1,092 (-10%)	4mo	$165,500	$152	74
15776 Evergreen Rd	0.22mi	3/1.0	1,122 (-7%)	4mo	$60,000	$53	71
15452 Stout St	0.11mi	3/1.0	1,110 (-8%)	8mo	$152,000	$137	71
15836 Patton St	0.33mi	3/1.0	1,122 (-7%)	6mo	$42,500	$38	64
15754 Evergreen Rd	0.19mi	3/1.0	1,091 (-10%)	9mo	$67,000	$61	64
16122 Trinity St	0.57mi	3/2.5	1,152 (-4%)	4mo	$169,900	$147	61
19400 Lyndon St	0.74mi	3/2.0	1,169 (-3%)	9mo	$70,000	$60	53
16115 Westbrook St	0.68mi	3/1.5	1,312 (+9%)	4mo	$77,400	$59	48
15907 Blackstone St	0.61mi	4/1.0 (+1)	1,097 (-9%)	9mo	$95,000	$87	40
16216 Westbrook St	0.71mi	3/1.5	1,378 (+14%)	4mo	$72,500	$53	38

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: 14.7%
• Equity multiple: 1.59×
• Total profit: $14,564
• Equity at exit: $13,121

10-year hold

• IRR: 23.5%
• Equity multiple: 3.02×
• Total profit: $49,857
• Equity at exit: $7,609

Cash invested: $24,640 (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 48223

• Active inventory: 161
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,344 high
• Mortgage (P&I): −$461
• Tax from tax record: −$112 /mo · $1,340/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $452

Break-even live

Break-even rent $772

Max offer price $88,000

Occupancy floor 61%

Sensitivity live

Price	-10% $502	-5% $477	+0% $452	+5% $427	+10% $402
Rent	-10% $346	-5% $399	+0% $452	+5% $505	+10% $558
Rate	-1.0pp $497	-0.5pp $475	base $452	+0.5pp $429	+1.0pp $406

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	16d	1	0.12mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	18d	1	0.13mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	45d	1	0.14mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	45d	1	0.15mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	45d	1	0.24mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	6d	1	0.31mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	25d	1	0.33mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	16d	1	0.47mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	18d	1	0.62mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	0.74mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	45d	1	0.79mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	0.84mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	45d	1	0.85mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	19d	1	0.98mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	45d	1	1.09mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	45d	1	1.09mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	45d	1	1.14mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	13d	1	1.15mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.19mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.19mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.21mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	1.23mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	45d	1	1.27mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	6d	1	1.28mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	18d	1	1.28mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	45d	1	1.31mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	18d	1	1.33mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	25d	1	1.38mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	45d	1	1.39mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	18d	1	1.39mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	25d	1	1.40mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	45d	1	1.40mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	45d	1	1.40mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	25d	1	1.44mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.45mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	25d	1	1.46mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	18d	1	1.46mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	18d	1	1.46mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.47mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	45d	1	1.47mi

Listing history 50 events

1. 2026-06-21
   days on market $88,000 Active 237 DOM
2. 2026-06-18
   days on market $88,000 Active 234 DOM
3. 2026-06-17
   days on market $88,000 Active 233 DOM
4. 2026-06-15
   days on market $88,000 Active 231 DOM
5. 2026-06-13
   days on market $88,000 Active 229 DOM
6. 2026-06-13
   days on market $88,000 Active 228 DOM
7. 2026-06-09
   days on market $88,000 Active 225 DOM
8. 2026-06-08
   days on market $88,000 Active 224 DOM
9. 2026-06-07
   days on market $88,000 Active 223 DOM
10. 2026-06-04
    days on market $88,000 Active 220 DOM
11. 2026-06-03
    days on market $88,000 Active 219 DOM
12. 2026-06-01
    days on market $88,000 Active 217 DOM
13. 2026-05-31
    days on market $88,000 Active 216 DOM
14. 2025-10-27
    listed $88,000 Active 559-char remark

    Show marketing remark (579 chars)

    Great Opportunity to own this single-family home built in 1949 featuring 3 bedrooms and 1.5 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

15. 2025-10-27
    listed $88,000 Active 579-char remark

    Show marketing remark (579 chars)

    Great Opportunity to own this single-family home built in 1949 featuring 3 bedrooms and 1.5 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

16. 2022-07-28
    historical
17. 2022-07-28
    historical
18. 2022-06-23
    historical
19. 2022-06-23
    listed $115,000 Active
20. 2022-06-23
    historical
21. 2022-05-04
    listed $115,000 Active
22. 2022-05-04
    listed $115,000 Active
23. 2022-05-04
    listed $115,000 Active
24. 2017-10-03
    soldstatus $90,000
25. 2017-09-15
    soldstatus $90,000 Sold
26. 2017-09-15
    soldstatus $90,000 Closed
27. 2017-07-19
    status Pending
28. 2017-07-19
    status Pending
29. 2017-07-06
    listed $69,900 Active
30. 2017-07-05
    listed $69,900 Active
31. 2016-06-24
    historical
32. 2016-06-24
    status Pending
33. 2016-06-24
    historical
34. 2016-06-21
    soldstatus $6,000 Sold
35. 2016-06-21
    soldstatus $6,000 Closed
36. 2016-06-08
    status Pending
37. 2016-06-07
    status Pending
38. 2016-06-03
    listed $7,500 Active
39. 2016-06-03
    listed $7,500 Active
40. 2016-02-10
    soldstatus $11,200 Sold
41. 2016-02-10
    soldstatus $11,200
42. 2016-01-26
    status Pending
43. 2016-01-25
    historical
44. 2016-01-20
    price $11,200
45. 2016-01-01
    status Active
46. 2016-01-01
    price $14,560
47. 2015-12-24
    historical
48. 2015-12-09
    price $17,920
49. 2015-12-09
    status Active
50. 2015-12-02
    historical

ⓘ 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: $1,340 · $112/mo
• Projected year-2 tax: $1,347 · $112/mo
• Expected delta: +$8/yr (+$1/mo · 0.6%)

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 14 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: $16,132
• − Mortgage interest: −$4,929
• − Property taxes: −$1,340
• − Insurance: −$440
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$2,560
• Taxable income: $4,282
• Est. tax owed @ 24.0%: −$1,028
• After-tax cash flow: $4,399/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• 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: ▼ -303.41%
• Current HPI: 138.2779
• 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

-2.1% since first listed

47 events — show timeline

• 2025-10-27 Listed $88,000 REALCOMP
• 2025-10-27 Listed $88,000 MiRealSource-MiMLS
• 2022-07-28 Listing Removed — REALCOMP
• 2022-07-28 Listing Removed — MiRealSource-MiMLS
• 2022-06-23 Listing Removed — REALCOMP
• 2022-06-23 Listing Removed — MiRealSource-MiMLS
• 2022-06-23 Listed $115,000 REALCOMP
• 2022-05-04 Listed $115,000 MiRealSource-MiMLS
• 2022-05-04 Listed $115,000 MiRealSource-MiMLS
• 2022-05-04 Listed $115,000 REALCOMP
• 2017-10-03 Sold (Public Records) $90,000 Public Records
• 2017-09-15 Sold (MLS) $90,000 MiRealSource-MiMLS
• 2017-09-15 Sold (MLS) $90,000 REALCOMP
• 2017-07-19 Pending — MiRealSource-MiMLS
• 2017-07-19 Pending — REALCOMP
• 2017-07-06 Listed $69,900 MiRealSource-MiMLS
• 2017-07-05 Listed $69,900 REALCOMP
• 2016-06-24 Listing Removed — MiRealSource-MiMLS
• 2016-06-24 Pending — MiRealSource-MiMLS
• 2016-06-24 Listing Removed — MiRealSource-MiMLS
• 2016-06-21 Sold (MLS) $6,000 MiRealSource-MiMLS
• 2016-06-21 Sold (MLS) $6,000 REALCOMP
• 2016-06-08 Pending — MiRealSource-MiMLS
• 2016-06-07 Pending — REALCOMP
• 2016-06-03 Listed $7,500 MiRealSource-MiMLS
• 2016-06-03 Listed $7,500 REALCOMP
• 2016-02-10 Sold (MLS) $11,200 MiRealSource-MiMLS
• 2016-02-10 Sold (MLS) $11,200 REALCOMP
• 2016-01-26 Pending — REALCOMP
• 2016-01-25 Listing Removed — MiRealSource-MiMLS
• 2016-01-20 Price Changed $11,200 REALCOMP
• 2016-01-01 Relisted — REALCOMP
• 2016-01-01 Price Changed $14,560 REALCOMP
• 2015-12-24 Listing Removed — REALCOMP
• 2015-12-09 Price Changed $17,920 REALCOMP
• 2015-12-09 Relisted — REALCOMP
• 2015-12-02 Listing Removed — REALCOMP
• 2015-11-22 Listed $21,280 REALCOMP
• 2015-11-13 Listing Removed — REALCOMP
• 2015-11-13 Listing Removed — MiRealSource-MiMLS
• 2015-10-29 Price Changed $24,640 REALCOMP
• 2015-09-17 Listed $28,000 REALCOMP
• 2015-09-16 Listed $24,640 MiRealSource-MiMLS
• 2015-09-16 Listed $11,200 MiRealSource-MiMLS
• 2004-04-23 Sold (Public Records) $89,000 Public Records
• 2004-02-20 Sold (MLS) $89,000 REALCOMP
• 2003-12-02 Listed $89,900 REALCOMP

Property tax history

-4.5%/yr

Latest (2025): $1,340 · -37.2% YoY. Source: county tax records.