21489 Danbury St · Woodhaven, MI 48183

$183,000

8 bd · 1.5 ba · 1,731 sqft · SingleFamily public records · 5 Days on market

Built 1969 7,405 sqft lot ↓ 27% since listing

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Why this score? — see what drove the C- 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in this spacious 2-story brick home in Woodhaven Woods! Spacious 1,731 sq ft. ,4 bedroom home with an attached 2-car garage on a fenced lot, this property has the bones and space to become something special! It needs renovation and is priced accordingly. The home features hardwood floors throughout the lower main living areas and the upper level, a fireplace in the family room, sliding glass door access to a covered brick paver patio, and a spacious fenced backyard with mature trees and a fire pit. The home is missing its furnace, central air conditioning unit, and hot water heater. The bathrooms have been gutted and will require new fixtures and finishes to make it your own. Cash or renovation financing only. Could be a great FHA 203(k) candidate. HUD homes are sold as-is. Seller makes no warranties as to property condition. Seller may contribute up to 3% for buyer's closing costs upon buyer request. Equal Housing Opportunity. Buyer & Buyer Agent to verify all inf

Key facts

• 2 story brick home
• Hardwood floors
• Mature trees

Tags

• 2 STORY BRICK HOME
• HARDWOOD FLOORS
• FIREPLACE IN FAMILY ROOM
• COVERED BRICK PAVER PATIO
• SPACIOUS FENCED BACKYARD
• MATURE TREES

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water
• Home design: Colonial-style single family home; Living area 1,731 total
• Construction: Built in 1969; Brick and vinyl siding exterior
• Exterior features: 0.17-acre lot; Public water

Interior

• Kitchen: Kitchen (25 x 10)
• Bedrooms: Primary bedroom (12 x 12); Bedroom 2 (11 x 10); Bedroom 3 (12 x 9); Bedroom 4 (12 x 9)
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Forced air heating
• Interior features: Fireplace; Total of 9 rooms; Full basement

What this means for you Summary

Snapshot

• This is a 8-bed/1.5-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $183k).
• Cap rate 8.1% vs local median 3.7% in Woodhaven — 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 83/100 on livability (#49 in MI, #1,017 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Woodhaven-Brownstown School District (suburban): math 32% / reading 49% proficiency, ranked #189 of 540 in MI (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 171 active listings in the ZIP; solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 5y 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.

Recommended offer $183,000

Questions for the listing agent

1. Built in 1969 — 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. 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.
4. 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.
5. 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: 1.06% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-12,189
• Equity at exit: $27,286

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $11,957
• Equity at exit: $15,822

Cash invested: $51,240 (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 48183

• Active inventory: 171
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,947 medium
• Mortgage (P&I): −$960
• Tax est. 1.5%: −$229 /mo · $2,745/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $274

Break-even live

Break-even rent $1,601

Max offer price $183,000

Occupancy floor 81%

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: $45,750
• Closing costs: $5,490
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-08
   statusdays on market $183,000 Pending 5 DOM
2. 2026-06-07
   days on market $183,000 Active 4 DOM
3. 2026-06-04
   remarks 699-char remark
4. 2026-06-04
   listed $183,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,369
• − Mortgage interest: −$10,251
• − Property taxes: −$2,745
• − Insurance: −$915
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$5,324
• Taxable income: $395
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $3,190/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: Woodhaven-Brownstown School District
• NCES district ID: 2636485
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $58,200
• Composite: 35.63/100
• National rank: #4885
• State rank: #189 of 540 in MI

Livability — Woodhaven

• Score: 83/100
• State rank: #49
• US rank: #1017

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodhaven, MI
• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 41,765
• Household income: $83,508
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 836.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 15% Lithuanian 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% 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: ▼ -222.34%
• Current HPI: 216.3623
• 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

-26.8% since first listed

16 events — show timeline

• 2026-06-01 Listed $183,000 SW Michigan MLS
• 2026-06-01 Listed $183,000 REALCOMP
• 2026-06-01 Listed $183,000 MiRealSource-MiMLS
• 2022-02-01 Sold (Public Records) $250,000 Public Records
• 2022-01-21 Sold (MLS) $250,000 MiRealSource-MiMLS
• 2022-01-21 Sold (MLS) $250,000 REALCOMP
• 2021-12-24 Pending — MiRealSource-MiMLS
• 2021-12-24 Pending — REALCOMP
• 2021-12-22 Relisted — MiRealSource-MiMLS
• 2021-12-20 Relisted — REALCOMP
• 2021-11-06 Pending — MiRealSource-MiMLS
• 2021-11-06 Pending — REALCOMP
• 2021-10-15 Listed $249,900 MiRealSource-MiMLS
• 2021-10-15 Listed $249,900 REALCOMP
• 2021-10-15 Coming Soon $249,900 MiRealSource-MiMLS
• 2021-10-15 Coming Soon $249,900 REALCOMP

Property tax history

+12.0%/yr

Latest (2025): $10,076 · +13.5% YoY. Source: county tax records.