16588 Woodingham Dr · Detroit, MI 48221

$123,000

3 bd · 1.0 ba · 1,382 sqft · SingleFamily public records · 115 Days on market

Built 1929 3,049 sqft lot $89/sqft · at area comps Est $122k · at est.

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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 +23.2/30.0
• DSCR +7.4/10.0
• ARV discount +7.0/15.0
• 1% rule +6.3/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is truly a must-see! Every update reflects thoughtful craftsmanship and attention to detail - it's more than a renovation; it's a careful restoration that preserves the unique character and timeless Detroit appeal throughout. From corner to corner, you'll notice the care that went into maintaining its original charm while enhancing it with modern touches. An amazing starter home and a standout investment opportunity. Seller financing available - schedule your showing today!

Key facts

• 3,049 sq ft lot
• Built 1929
• Listed 115 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).
• Recommended offer: $112k (9.0% below list) — sets the bar for market timing.

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 rising (+3.4%/yr); 349 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $850 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 115 days — a 9% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y 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.
• Current owner paid $65k; list at $123k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,930 (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 1929 — 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: 1.13% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

• ARV (median comp): $121,519
• List price: $123,000
• Delta: 1.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16659 Lilac St	0.14mi	3/2.0	1,296 (-6%)	1mo	$40,000	$31	78
15703 Northlawn St	0.54mi	4/1.0 (+1)	1,365 (-1%)	5mo	$70,000	$51	64
16820 Santa Rosa Dr	0.38mi	3/1.0	1,224 (-11%)	0mo	$10,000	$8	63
17600 Santa Barbara Dr	0.60mi	3/1.0	1,446 (+5%)	2mo	$145,000	$100	62
16204 Wisconsin St	0.38mi	3/1.5	1,536 (+11%)	1mo	$163,000	$106	61
16811 Stoepel St	0.40mi	3/2.0	1,500 (+8%)	5mo	$138,000	$92	59
16143 Monica St	0.36mi	4/2.0 (+1)	1,500 (+8%)	2mo	$175,000	$117	58
16500 Griggs St	0.69mi	3/1.5	1,427 (+3%)	4mo	$130,000	$91	57
16800 Ilene St	0.64mi	3/2.5	1,298 (-6%)	1mo	$210,000	$162	53
15379 Woodingham Dr	0.66mi	4/1.0 (+1)	1,300 (-6%)	4mo	$7,000	$5	51
17421 Quincy St	0.73mi	3/1.5	1,474 (+7%)	2mo	$234,500	$159	51
17190 Washburn St	0.67mi	4/1.0 (+1)	1,581 (+14%)	3mo	$65,250	$41	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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-5,125
• Equity at exit: $18,340

10-year hold

• IRR: 6.3%
• Equity multiple: 1.48×
• Total profit: $16,456
• Equity at exit: $10,635

Cash invested: $34,440 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,385 high
• Mortgage (P&I): −$645
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $222

Break-even live

Break-even rent $1,104

Max offer price $123,000

Occupancy floor 79%

Sensitivity live

Price	-10% $292	-5% $257	+0% $222	+5% $187	+10% $153
Rent	-10% $113	-5% $168	+0% $222	+5% $277	+10% $332
Rate	-1.0pp $284	-0.5pp $254	base $222	+0.5pp $190	+1.0pp $158

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.15mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	18d	1	0.20mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.34mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	0.35mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	0.36mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	20d	1	0.37mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	25d	1	0.37mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	18d	1	0.38mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	25d	1	0.39mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	0.41mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	0.41mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.42mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.43mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.47mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	44d	1	0.50mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.51mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.56mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.57mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.60mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	0.61mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.62mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	0.62mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	0.65mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	44d	1	0.67mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	25d	1	0.67mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	0.75mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	0.78mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.89mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.95mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.95mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	0.99mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	1.01mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	1.05mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.11mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	1.11mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	1.13mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.14mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.18mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	5d	1	1.21mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	1.23mi

Listing history 31 events

1. 2026-06-18
   days on market $123,000 Active 115 DOM
2. 2026-06-17
   days on market $123,000 Active 114 DOM
3. 2026-06-15
   pricedays on market $123,000 Active 112 DOM
4. 2026-06-13
   days on market $124,000 Active 110 DOM
5. 2026-06-13
   days on market $124,000 Active 109 DOM
6. 2026-06-09
   days on market $124,000 Active 106 DOM
7. 2026-06-08
   days on market $124,000 Active 105 DOM
8. 2026-06-07
   days on market $124,000 Active 104 DOM
9. 2026-06-04
   days on market $124,000 Active 101 DOM
10. 2026-06-03
    days on market $124,000 Active 100 DOM
11. 2026-06-01
    days on market $124,000 Active 98 DOM
12. 2026-05-31
    days on market $124,000 Active 97 DOM
13. 2026-05-04
    price $124,000 488-char remark

    Show marketing remark (514 chars)

    This home is truly a must-see! Every update reflects thoughtful craftsmanship and attention to detail—it’s more than a renovation; it’s a careful restoration that preserves the unique character and timeless Detroit appeal throughout. From corner to corner, you’ll notice the care that went into maintaining its original charm while enhancing it with modern touches. An amazing starter home and a standout investment opportunity. Seller financing available—schedule your showing today!

14. 2026-05-04
    price $124,000 514-char remark

    Show marketing remark (514 chars)

    This home is truly a must-see! Every update reflects thoughtful craftsmanship and attention to detail—it’s more than a renovation; it’s a careful restoration that preserves the unique character and timeless Detroit appeal throughout. From corner to corner, you’ll notice the care that went into maintaining its original charm while enhancing it with modern touches. An amazing starter home and a standout investment opportunity. Seller financing available—schedule your showing today!

15. 2026-02-23
    listed $125,000 Active 514-char remark

    Show marketing remark (488 chars)

    This home is truly a must-see! Every update reflects thoughtful craftsmanship and attention to detail - it's more than a renovation; it's a careful restoration that preserves the unique character and timeless Detroit appeal throughout. From corner to corner, you'll notice the care that went into maintaining its original charm while enhancing it with modern touches. An amazing starter home and a standout investment opportunity. Seller financing available - schedule your showing today!

16. 2026-02-23
    listed $125,000 Active 488-char remark

    Show marketing remark (488 chars)

    This home is truly a must-see! Every update reflects thoughtful craftsmanship and attention to detail - it's more than a renovation; it's a careful restoration that preserves the unique character and timeless Detroit appeal throughout. From corner to corner, you'll notice the care that went into maintaining its original charm while enhancing it with modern touches. An amazing starter home and a standout investment opportunity. Seller financing available - schedule your showing today!

17. 2026-02-12
    historical
18. 2025-09-10
    status Active
19. 2025-09-10
    status Active
20. 2025-08-18
    historical
21. 2025-08-18
    price $125,000
22. 2025-08-18
    historical
23. 2025-08-18
    price $125,000
24. 2025-08-11
    listed $69,999 Active
25. 2025-08-11
    listed $69,999 Active
26. 2022-12-09
    soldstatus $65,000
27. 2022-07-28
    historical
28. 2022-07-27
    historical
29. 2022-06-19
    listed $69,000 Active
30. 2022-06-19
    listed $69,000 Active
31. 2019-10-30
    soldstatus $76,900

ⓘ 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: $2,110 · $176/mo
• Projected year-2 tax: $2,110 · $176/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,624
• − Mortgage interest: −$6,890
• − Property taxes: −$2,110
• − Insurance: −$615
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$3,578
• Taxable income: $771
• Est. tax owed @ 24.0%: −$185
• After-tax cash flow: $2,482/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+61.2% since first listed

19 events — show timeline

• 2026-05-04 Price Changed $124,000 MiRealSource-MiMLS
• 2026-05-04 Price Changed $124,000 REALCOMP
• 2026-02-23 Listed $125,000 REALCOMP
• 2026-02-23 Listed $125,000 MiRealSource-MiMLS
• 2026-02-12 Listing Removed — MiRealSource-MiMLS
• 2025-09-10 Relisted — MiRealSource-MiMLS
• 2025-09-10 Relisted — REALCOMP
• 2025-08-18 Price Changed $125,000 REALCOMP
• 2025-08-18 Listing Removed — REALCOMP
• 2025-08-18 Price Changed $125,000 MiRealSource-MiMLS
• 2025-08-18 Listing Removed — MiRealSource-MiMLS
• 2025-08-11 Listed $69,999 REALCOMP
• 2025-08-11 Listed $69,999 MiRealSource-MiMLS
• 2022-12-09 Sold (Public Records) $65,000 Public Records
• 2022-07-28 Listing Removed — REALCOMP
• 2022-07-27 Listing Removed — MiRealSource-MiMLS
• 2022-06-19 Listed $69,000 MiRealSource-MiMLS
• 2022-06-19 Listed $69,000 REALCOMP
• 2019-10-30 Sold (Public Records) $76,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,110 · -54.3% YoY. Source: county tax records.