4739 Walwit St · Dearborn, MI 48126

$119,900

4 bd · 2.0 ba · 1,314 sqft · SingleFamily public records · 115 Days on market

Built 1930 3,920 sqft lot ↓ 19% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.3% in Dearborn — 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 80/100 on livability (#84 in MI, #1,904 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, schools D-.
• Dearborn City School District (urban): math 26% / reading 39% proficiency, ranked #325 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+13.2%/yr); 107 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1,879/mo this rent would consume 54% of the median local household income ($42k/yr) (locally 2742% 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 $829 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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 1930 — 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 D-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. 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: 1.57% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $256,230
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4564 Chovin St	0.19mi	4/2.0	1,400 (+6%)	9mo	$340,000	$243	73
4736 Curtis St	0.13mi	3/2.0 (-1)	1,206 (-8%)	6mo	$220,000	$182	70
4837 Firestone St	0.10mi	3/2.5 (-1)	1,286 (-2%)	19mo	$312,000	$243	69
5264 Palmer St	0.44mi	3/3.0 (-1)	1,347 (+2%)	3mo	$340,000	$252	64
5485 Steadman St	0.57mi	3/1.5 (-1)	1,361 (+4%)	3mo	$208,000	$153	58
5045 Kenilworth St	0.56mi	3/1.0 (-1)	1,260 (-4%)	2mo	$140,000	$111	57
5061 Curtis St	0.29mi	3/1.5 (-1)	1,177 (-10%)	8mo	$230,000	$195	56
4400 Lapham St	0.40mi	3/2.0 (-1)	1,432 (+9%)	8mo	$282,000	$197	55
4886 Rosalie St	0.29mi	3/1.5 (-1)	1,176 (-10%)	8mo	$195,000	$166	55
4757 Roemer St	0.45mi	3/1.5 (-1)	1,384 (+5%)	10mo	$260,000	$188	55
14401 Wellesley St	0.61mi	3/1.0 (-1)	1,152 (-12%)	2mo	$263,000	$228	41
5444 Kenilworth St	0.72mi	3/1.0 (-1)	1,500 (+14%)	2mo	$205,000	$137	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.81×
• Total profit: $27,075
• Equity at exit: $17,877

10-year hold

• IRR: 30.5%
• Equity multiple: 4.46×
• Total profit: $116,095
• Equity at exit: $10,367

Cash invested: $33,572 (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 48126

• Rents YoY: 13.2%
• Active inventory: 107
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,879 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$233 /mo · $2,797/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $573

Break-even live

Break-even rent $1,154

Max offer price $119,900

Occupancy floor 65%

Sensitivity live

Price	-10% $641	-5% $607	+0% $573	+5% $539	+10% $505
Rent	-10% $424	-5% $499	+0% $573	+5% $647	+10% $721
Rate	-1.0pp $633	-0.5pp $603	base $573	+0.5pp $542	+1.0pp $510

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4645 Rosalie St Dearborn, MI	3.0	1.0	1588	$1,700	$1.07	0d	1	0.31mi
15630 Middlebury Dr Dearborn, MI	3.0	1.0–2.5	983	$2,205	$2.24	0d	22	0.98mi
5250 Calhoun St Dearborn, MI	3.0	1.0	1400	$1,300	$0.93	25d	1	1.06mi
6474 Saint Marys St Detroit, MI	3.0	1.0	1237	$1,350	$1.09	45d	1	1.32mi

Listing history 26 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-09-23
   status Pending
5. 2019-10-07
   historical
6. 2019-09-20
   status Pending
7. 2019-09-18
   historical
8. 2019-09-13
   status Pending
9. 2019-08-12
   historical
10. 2019-07-26
    status Pending
11. 2019-07-16
    historical
12. 2019-07-10
    soldstatus $117,000
13. 2019-06-14
    status Pending
14. 2019-06-10
    historical
15. 2019-05-10
    status Pending
16. 2019-05-08
    historical
17. 2019-03-15
    status Pending 1028-char remark

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

18. 2019-03-15
    status Pending

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

19. 2019-03-15
    status Active

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

20. 2019-02-21
    historical
21. 2019-02-09
    price $119,900 1028-char remark

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

22. 2019-02-09
    price $119,900

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

23. 2019-01-17
    status Active
24. 2019-01-15
    historical
25. 2018-11-20
    listed $145,000 Active

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

26. 2018-11-20
    listed $145,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    Welcome to over 1400 sq ft of beautifully finished & remodeled Home! Allow Hardwood flooring guide you thru formal living rm with natural fireplace that centers the spacious room that's captured with wall to wall windows, formal dining room, generous kitchen, full bath & 2 bedrooms at entry level. Upper level carries 2 bedrooms, family rm/office & 5th room, & Full Bath, Perfect for large family! This home captures a time of luxury built during its time! Full lower level is ready for finishing touch's and offers a fully open layout that opens the possibility of 2nd kitchen, full bath, living space & family time fun! Beautiful Rose gardens surrounds property and Encompass's the beauty of Dearborn living. Absolute perfection in the location, with minutes away from Performing Arts Theater, Historic Henry Ford Library, World Headquarters for Ford Motor Co. Police, Train station, & Civic Center! entertainment! Some cosmetic work is needed. mls Data is estimated. Agent related to seller

ⓘ 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: $2,797 · $233/mo
• Projected year-2 tax: $2,797 · $233/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 2/10 Low FEMA zone X (unshaded) · 3% 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,553
• − Mortgage interest: −$6,716
• − Property taxes: −$2,797
• − Insurance: −$600
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$3,488
• Taxable income: $5,344
• Est. tax owed @ 24.0%: −$1,283
• After-tax cash flow: $5,593/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: Dearborn City School District
• NCES district ID: 2611600
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $46,884
• Composite: 27.93/100
• National rank: #6864
• State rank: #325 of 540 in MI

Livability — Dearborn

• Score: 80/100
• State rank: #84
• US rank: #1904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn, MI
• County: Wayne County · 1,562,939 people
• City population: 86,476
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 51,997
• Household income: $42,140
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 2742.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Arab 8% Romanian 2% Armenian 1%
• Foreign-born: 43% · Canada, South Korea
• Languages at home: 26% English-only · Arabic 70% Other Indo-European 2% Spanish 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: ▼ -266.09%
• Current HPI: 241.0732
• Rent YoY: ▲ 13.15%
• 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

-19.3% since first listed

26 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-09-23 Pending — REALCOMP
• 2019-10-07 Listing Removed — REALCOMP
• 2019-09-20 Pending — REALCOMP
• 2019-09-18 Listing Removed — REALCOMP
• 2019-09-13 Pending — REALCOMP
• 2019-08-12 Listing Removed — REALCOMP
• 2019-07-26 Pending — REALCOMP
• 2019-07-16 Listing Removed — REALCOMP
• 2019-07-10 Sold (Public Records) $117,000 Public Records
• 2019-06-14 Pending — REALCOMP
• 2019-06-10 Listing Removed — REALCOMP
• 2019-05-10 Pending — REALCOMP
• 2019-05-08 Listing Removed — REALCOMP
• 2019-03-15 Pending — MiRealSource-MiMLS
• 2019-03-15 Pending — REALCOMP
• 2019-03-15 Relisted — REALCOMP
• 2019-02-21 Listing Removed — REALCOMP
• 2019-02-09 Price Changed $119,900 MiRealSource-MiMLS
• 2019-02-09 Price Changed $119,900 REALCOMP
• 2019-01-17 Relisted — REALCOMP
• 2019-01-15 Listing Removed — REALCOMP
• 2018-11-20 Listed $145,000 MiRealSource-MiMLS
• 2018-11-20 Listed $145,000 REALCOMP

Property tax history

-11.5%/yr

Latest (2025): $2,797 · -13.5% YoY. Source: county tax records.