5575 Buckingham Ave · Detroit, MI 48224

$128,500

3 bd · 1.0 ba · 948 sqft · SingleFamily public records · 66 Days on market

Built 1939 4,792 sqft lot $136/sqft · 56% above area Est $143k · 10% under

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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 +21.6/30.0
• ARV discount +12.2/15.0
• DSCR +6.9/10.0
• 1% rule +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled 3-bedroom bungalow with 1.5 baths! This home boasts mostly new windows, bringing in plenty of natural light. The large backyard is partially paved - ideal for gatherings, parking, or outdoor enjoyment. Located on a quiet, well-kept block with friendly neighbors. Move-in ready and a must-see! BATVAI

Key facts

• 4,792 sq ft lot
• Built 1939
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Rents flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 35% 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 $888 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y ago; this cycle's ask has dropped $22k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $128k implies a 2634% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,790 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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: 1.02% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (median comp): $143,492
• List price: $128,500
• Delta: -10.45%
• 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
5066 Chatsworth St	0.27mi	3/1.0	853 (-10%)	4mo	$49,500	$58	67
10058 Greensboro St	0.64mi	3/1.0	928 (-2%)	3mo	$40,000	$43	64
5818 Beaconsfield St	0.35mi	3/1.5	1,038 (+10%)	3mo	$60,000	$58	63
5921 Audubon Rd	0.40mi	3/1.0	1,039 (+10%)	6mo	$190,000	$183	61
5759 Barham St	0.39mi	3/1.0	1,075 (+13%)	5mo	$72,000	$67	55
5744 Philip St	0.72mi	3/1.0	1,000 (+6%)	5mo	$21,500	$22	53
9459 Lakepointe St	0.67mi	3/1.0	855 (-10%)	2mo	$40,000	$47	51
5114 Wayburn St	0.58mi	2/1.0 (-1)	864 (-9%)	5mo	$40,000	$46	49
10326 Beaconsfield St	0.72mi	3/1.0	1,042 (+10%)	3mo	$66,000	$63	47
5777 Lakepointe St	0.45mi	4/2.5 (+1)	1,075 (+13%)	2mo	$174,999	$163	44
9204 Wayburn St	0.67mi	4/1.0 (+1)	1,045 (+10%)	4mo	$80,000	$77	43
9729 Lakepointe St	0.72mi	3/1.0	1,068 (+13%)	6mo	$44,000	$41	40

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-11,370
• Equity at exit: $19,160

10-year hold

• IRR: -2.5%
• Equity multiple: 0.85×
• Total profit: $-5,435
• Equity at exit: $11,110

Cash invested: $35,980 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$674
• Tax from tax record: −$109 /mo · $1,305/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $194

Break-even live

Break-even rent $1,058

Max offer price $128,500

Occupancy floor 80%

Sensitivity live

Price	-10% $267	-5% $231	+0% $194	+5% $158	+10% $122
Rent	-10% $91	-5% $143	+0% $194	+5% $246	+10% $297
Rate	-1.0pp $259	-0.5pp $227	base $194	+0.5pp $161	+1.0pp $127

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: $32,125
• Closing costs: $3,855
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	0.18mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.18mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.23mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.30mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	0.33mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.35mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	0.51mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	0.57mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	0.58mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.61mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	0.67mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.72mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.73mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	18d	1	0.82mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.82mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.88mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	0.89mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	44d	1	0.89mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	44d	1	0.90mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	44d	1	0.91mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	22d	1	0.91mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.91mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.95mi
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	25d	1	0.99mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	1.00mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	1.04mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.08mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.08mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	1.12mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	1.15mi
4667 Eastlawn St Detroit, MI	3.0	1.0	646	$1,095	$1.70	4d	1	1.16mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	1.18mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.19mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.19mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	1.33mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	44d	1	1.34mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.35mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	5d	1	1.36mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	1.37mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	1.37mi

Listing history 40 events

1. 2026-06-18
   days on market $128,500 Active 66 DOM
2. 2026-06-17
   days on market $128,500 Active 65 DOM
3. 2026-06-15
   days on market $128,500 Active 63 DOM
4. 2026-06-13
   days on market $128,500 Active 61 DOM
5. 2026-06-13
   days on market $128,500 Active 60 DOM
6. 2026-06-09
   days on market $128,500 Active 57 DOM
7. 2026-06-08
   days on market $128,500 Active 56 DOM
8. 2026-06-07
   days on market $128,500 Active 55 DOM
9. 2026-06-04
   days on market $128,500 Active 52 DOM
10. 2026-06-03
    days on market $128,500 Active 51 DOM
11. 2026-06-02
    days on market $128,500 Active 50 DOM
12. 2026-06-01
    days on market $128,500 Active 49 DOM
13. 2026-05-31
    days on market $128,500 Active 48 DOM
14. 2026-05-09
    price $138,500 321-char remark

    Show marketing remark (321 chars)

    Beautifully remodeled 3-bedroom bungalow with 1.5 baths! This home boasts mostly new windows, bringing in plenty of natural light. The large backyard is partially paved - ideal for gatherings, parking, or outdoor enjoyment. Located on a quiet, well-kept block with friendly neighbors. Move-in ready and a must-see! BATVAI

15. 2026-05-08
    price $138,500 325-char remark

    Show marketing remark (325 chars)

    Beautifully remodeled 3-bedroom bungalow with 1.5 baths! This home boasts mostly new windows, bringing in plenty of natural light. The large backyard is partially paved—ideal for gatherings, parking, or outdoor enjoyment. Located on a quiet, well-kept block with friendly neighbors. Move-in ready and a must-see! BATVAI

16. 2026-04-13
    listed $150,000 Active 325-char remark

    Show marketing remark (321 chars)

    Beautifully remodeled 3-bedroom bungalow with 1.5 baths! This home boasts mostly new windows, bringing in plenty of natural light. The large backyard is partially paved - ideal for gatherings, parking, or outdoor enjoyment. Located on a quiet, well-kept block with friendly neighbors. Move-in ready and a must-see! BATVAI

17. 2026-04-13
    listed $150,000 Active 321-char remark

    Show marketing remark (321 chars)

    Beautifully remodeled 3-bedroom bungalow with 1.5 baths! This home boasts mostly new windows, bringing in plenty of natural light. The large backyard is partially paved - ideal for gatherings, parking, or outdoor enjoyment. Located on a quiet, well-kept block with friendly neighbors. Move-in ready and a must-see! BATVAI

18. 2019-06-04
    historical
19. 2019-06-03
    historical
20. 2019-02-22
    status Active
21. 2019-01-25
    historical
22. 2019-01-03
    listed $52,000 Active
23. 2019-01-03
    listed $52,000 Active
24. 2017-05-27
    historical
25. 2017-05-27
    historical
26. 2017-04-21
    status Active
27. 2017-04-11
    historical
28. 2017-03-15
    listed $35,000 Active
29. 2017-03-15
    listed $35,000 Active
30. 2008-12-01
    soldstatus $4,700
31. 2008-10-16
    listed $4,700
32. 2005-12-14
    historical
33. 2005-10-14
    listed $125,000
34. 2005-08-18
    historical
35. 2005-06-22
    listed $107,500
36. 2002-06-24
    soldstatus $86,000
37. 2002-01-28
    soldstatus $85,000
38. 2001-08-12
    historical
39. 2001-07-18
    listed $79,900
40. 2000-11-01
    soldstatus $42,000

ⓘ 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: $1,305 · $109/mo
• Projected year-2 tax: $1,642 · $137/mo
• Expected delta: +$337/yr (+$28/mo · 25.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,654
• − Mortgage interest: −$7,198
• − Property taxes: −$1,305
• − Insurance: −$642
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$3,738
• Taxable income: $265
• Est. tax owed @ 24.0%: −$64
• After-tax cash flow: $2,269/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• 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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+229.8% since first listed

27 events — show timeline

• 2026-05-09 Price Changed $138,500 MiRealSource-MiMLS
• 2026-05-08 Price Changed $138,500 REALCOMP
• 2026-04-13 Listed $150,000 REALCOMP
• 2026-04-13 Listed $150,000 MiRealSource-MiMLS
• 2019-06-04 Listing Removed — REALCOMP
• 2019-06-03 Listing Removed — MiRealSource-MiMLS
• 2019-02-22 Relisted — REALCOMP
• 2019-01-25 Listing Removed — REALCOMP
• 2019-01-03 Listed $52,000 MiRealSource-MiMLS
• 2019-01-03 Listed $52,000 REALCOMP
• 2017-05-27 Listing Removed — REALCOMP
• 2017-05-27 Listing Removed — MiRealSource-MiMLS
• 2017-04-21 Relisted — REALCOMP
• 2017-04-11 Listing Removed — REALCOMP
• 2017-03-15 Listed $35,000 MiRealSource-MiMLS
• 2017-03-15 Listed $35,000 REALCOMP
• 2008-12-01 Sold (MLS) $4,700 REALCOMP
• 2008-10-16 Listed $4,700 REALCOMP
• 2005-12-14 Listing Removed — MiRealSource-MiMLS
• 2005-10-14 Listed $125,000 MiRealSource-MiMLS
• 2005-08-18 Listing Removed — REALCOMP
• 2005-06-22 Listed $107,500 REALCOMP
• 2002-06-24 Sold (Public Records) $86,000 Public Records
• 2002-01-28 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2001-08-12 Listing Removed — MiRealSource-MiMLS
• 2001-07-18 Listed $79,900 MiRealSource-MiMLS
• 2000-11-01 Sold (Public Records) $42,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,305 · -54.0% YoY. Source: county tax records.