389 Genessee St · River Rouge, MI 48218

$75,000

3 bd · 2.0 ba · 1,760 sqft · SingleFamily public records · 44 Days on market

Built 1928 3,485 sqft lot Est $128k · 42% under

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Why this score? — see what drove the A- 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

Key facts

• Waterfront views
• Community parks
• Walking paths

Tags

• PARTIALLY FINISHED BASEMENT
• ACCESS TO LOCAL AMENITIES
• COMMUNITY PARKS
• WATERFRONT VIEWS
• WALKING PATHS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 8.1% in River Rouge — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#454 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B+; Watch: health & safety D, schools F, crime F.
• River Rouge School District (suburban): math 3% / reading 12% proficiency, ranked #535 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.40% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.62%
• DSCR: 1.65
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $128,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
389 Genessee St	0.00mi	3/2.0	1,760 (0%)	1mo	$72,000	$41	100
20 Hill St	0.14mi	3/2.0	1,722 (-2%)	1mo	$125,000	$73	89
292 Genessee St	0.26mi	3/1.0	1,848 (+5%)	2mo	$125,000	$68	74
311 Richter St	0.25mi	3/1.0	1,644 (-7%)	1mo	$143,250	$87	73
338 Richter St	0.18mi	4/2.0 (+1)	1,728 (-2%)	13mo	$64,000	$37	73
75 Abbott St	0.11mi	4/1.0 (+1)	1,848 (+5%)	12mo	$50,000	$27	67
112 Walnut St	0.21mi	4/1.5 (+1)	1,650 (-6%)	12mo	$130,000	$79	63
60 Batavia St	0.53mi	3/1.0	1,720 (-2%)	12mo	$150,000	$87	58
25 Marie St	0.55mi	4/2.5 (+1)	1,736 (-1%)	10mo	$60,000	$35	57
116 Pine St	0.36mi	4/2.0 (+1)	1,559 (-11%)	9mo	$173,000	$111	51
92 E Pleasant St	0.68mi	3/1.0	1,831 (+4%)	12mo	$133,000	$73	48
24 Linden St	0.71mi	4/2.0 (+1)	1,889 (+7%)	3mo	$80,000	$42	47

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: 35.1%
• Equity multiple: 3.72×
• Total profit: $57,194
• Equity at exit: $67,566

10-year hold

• IRR: 30.2%
• Equity multiple: 8.41×
• Total profit: $155,710
• Equity at exit: $145,709

Cash invested: $21,000 (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 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$149 /mo · $1,789/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $256

Break-even live

Break-even rent $726

Max offer price $75,000

Occupancy floor 71%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
194 Richter St River Rouge, MI	2.0	1.0	2618	$1,050	$0.40	24d	1	0.58mi

Listing history 12 events

1. 2026-04-23
   status Pending 651-char remark

   Show marketing remark (651 chars)

   Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

2. 2026-04-23
   status Pending 651-char remark

   Show marketing remark (651 chars)

   Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

3. 2026-04-23
   status Pending

   Show marketing remark (651 chars)

   Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

4. 2026-03-10
   listed $75,000 Active 651-char remark

   Show marketing remark (651 chars)

   Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

5. 2026-03-10
   listed $75,000 Active 651-char remark

   Show marketing remark (651 chars)

   Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

6. 2026-03-10
   listed $75,000 Active

   Show marketing remark (651 chars)

   Investor alert! This solid single-family home offers strong potential for investors looking to renovate, flip, or fix and rent. Built in 1928, the property features 3 beds, 2 baths, and a partially finished basement providing room to expand living areas or create additional functionality. Conveniently positioned in River Rouge, this home provides access to local amenities and is minutes from downtown Detroit River Rouge also features community parks such as Belanger Park with waterfront views and walking paths along the Detroit River, as well as Memorial Park. Sold as-is, this property represents a clear opportunity to put your vision to work.

7. 2009-04-03
   listed $9,000
8. 2000-06-21
   soldstatus $65,900
9. 2000-04-26
   soldstatus $65,900
10. 2000-04-26
    soldstatus $65,900
11. 2000-03-14
    listed $63,900
12. 2000-03-14
    listed $63,900

ⓘ 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: $1,789 · $149/mo
• Projected year-2 tax: $1,789 · $149/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,600
• − Mortgage interest: −$4,201
• − Property taxes: −$1,789
• − Insurance: −$375
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$2,182
• Taxable income: $2,037
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $2,582/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: River Rouge School District
• NCES district ID: 2629760
• Math proficiency: 3% ▼ -7.00%
• Reading proficiency: 12% ▼ -4.00%
• Median HH income: $26,664
• Composite: 5.29/100
• National rank: #10033
• State rank: #535 of 540 in MI

Livability — River Rouge

• Score: 65/100
• State rank: #454
• US rank: #12700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Rouge, MI
• City population: 7,096
• Population (ZIP): 7,096

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 34% Two or more races 16% Hispanic / Latino 16%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▲ 77.93%
• Current HPI: 352.3551
• Rent YoY: —
• Metro: —
• 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

+17.4% since first listed

12 events — show timeline

• 2026-04-23 Pending — MiRealSource-MiMLS
• 2026-04-23 Pending — REALCOMP
• 2026-04-23 Pending — SW Michigan MLS
• 2026-03-10 Listed $75,000 REALCOMP
• 2026-03-10 Listed $75,000 SW Michigan MLS
• 2026-03-10 Listed $75,000 MiRealSource-MiMLS
• 2009-04-03 Listed $9,000 REALCOMP
• 2000-06-21 Sold (Public Records) $65,900 Public Records
• 2000-04-26 Sold (MLS) $65,900 MiRealSource-MiMLS
• 2000-04-26 Sold (MLS) $65,900 REALCOMP
• 2000-03-14 Listed $63,900 MiRealSource-MiMLS
• 2000-03-14 Listed $63,900 REALCOMP

Property tax history

+5.1%/yr

Latest (2025): $1,789 · -26.5% YoY. Source: county tax records.