23 W Broadway St · Ecorse, MI 48229

$89,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 16 Days on market

Built 1924 3,049 sqft lot Est $60k · 49% over

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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 +27.3/30.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome home to this charming and move-in-ready 2-bedroom, 1-bath ranch! Perfect for first-time homebuyers, downsizers, or investors looking to add a turnkey property to their portfolio. This well-maintained home features brand-new stainless-steel appliances, including a washer and dryer, fresh paint throughout, and new carpeting, creating a clean and modern feel from the moment you walk in. The full basement offers endless possibilities for additional living space, storage, or future finishing opportunities. Step outside to enjoy the fully privacy-fenced backyard with an extra-large lot, providing plenty of room for entertaining, pets, gardening, or simply relaxing outdoors. Conveniently located and offering immediate comfort and value, this home is a fantastic opportunity you won't want to miss. Schedule your private showing today!

Key facts

• Extra-large lot
• Full basement
• 3,049 sq ft lot

Tags

• STAINLESS-STEEL APPLIANCES
• FULL BASEMENT
• PRIVACY-FENCED BACKYARD
• EXTRA-LARGE LOT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation; Built area above grade: 865 square feet
• Exterior features: Paved road access; Lot approximately 0.07 acres (30 x 100)

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Dryer and Washer included; Free-standing gas range; Free-standing refrigerator; Full unfinished basement
• Laundry & utility: Washer and Dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#348 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, schools F, crime F.
• Ecorse Public Schools (suburban): math 3% / reading 7% proficiency, ranked #536 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 56 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 23y 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 $6k; list at $90k implies a 1350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.36%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $60,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 E Alexis Ave	0.21mi	3/1.0 (+1)	928 (+7%)	1mo	$65,000	$70	72
4250 7th St	0.43mi	2/1.0	935 (+8%)	0mo	$37,750	$40	66
36 E Charlotte Ave	0.26mi	2/1.0	991 (+15%)	1mo	$88,000	$89	62
27 Knox St St	0.37mi	2/1.0	792 (-8%)	10mo	$74,000	$93	61
4435 High St	0.55mi	2/1.0	792 (-8%)	2mo	$50,000	$63	59
3929 14th St	0.69mi	3/1.0 (+1)	876 (+1%)	3mo	$78,000	$89	58
50 E Rockwood St	0.75mi	2/1.0	825 (-4%)	3mo	$50,000	$61	55
3765 12th St	0.75mi	3/2.0 (+1)	864 (0%)	2mo	$50,000	$58	55
30 Ridge St	0.44mi	2/1.0	748 (-13%)	3mo	$50,000	$67	54
58 Ridge St	0.44mi	3/1.0 (+1)	950 (+10%)	8mo	$87,000	$92	51
4353 3rd St	0.53mi	2/2.0	769 (-11%)	4mo	$22,000	$29	49
350 Labadie St	0.72mi	3/1.0 (+1)	960 (+11%)	3mo	$99,000	$103	40

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: 33.4%
• Equity multiple: 3.60×
• Total profit: $65,487
• Equity at exit: $80,989

10-year hold

• IRR: 28.8%
• Equity multiple: 8.15×
• Total profit: $179,902
• Equity at exit: $174,656

Cash invested: $25,172 (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 48229

• Home prices YoY: 33.9%
• Active inventory: 56
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,115 high
• Mortgage (P&I): −$471
• Tax from tax record: −$113 /mo · $1,355/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $259

Break-even live

Break-even rent $787

Max offer price $89,900

Occupancy floor 72%

Sensitivity live

Price	-10% $310	-5% $285	+0% $259	+5% $234	+10% $208
Rent	-10% $171	-5% $215	+0% $259	+5% $303	+10% $347
Rate	-1.0pp $304	-0.5pp $282	base $259	+0.5pp $236	+1.0pp $212

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4435 High St Ecorse, MI	2.0	1.0	792	$1,095	$1.38	5d	1	0.55mi
4471 High St Unit 81-13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	25d	1	0.63mi
4471 High St Unit 71-7 Ecorse, MI	2.0	1.0	700	$1,150	$1.64	25d	1	0.63mi
4471 High St Unit 25-4 Ecorse, MI	1.0	1.0	600	$1,025	$1.71	18d	1	0.63mi
4581 High St Unit 13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	25d	1	0.84mi
25 Le Blanc St Unit 4 Ecorse, MI	1.0	1.0	650	$1,025	$1.58	18d	1	0.84mi
4573 3rd St Ecorse, MI	2.0	1.0	1000	$1,300	$1.30	15d	1	0.84mi
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	17d	1	0.90mi
1331 Pingree Ave Lincoln Park, MI	2.0	1.0	725	$1,300	$1.79	0d	1	0.92mi
88 Hill St Unit 2 River Rouge, MI	1.0	1.0	700	$800	$1.14	25d	1	0.97mi
800 Montie Rd Apt 12 Lincoln Park, MI	1.0	1.0	700	$1,000	$1.43	25d	1	1.02mi
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	18d	1	1.04mi
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	25d	1	1.11mi
1583 Empire Ave Lincoln Park, MI	1.0	1.0	700	$1,050	$1.50	25d	1	1.11mi
1563 Wilson Ave Lincoln Park, MI	1.0	1.0	750	$895	$1.19	5d	1	1.28mi
177 N Riverbank St Wyandotte, MI	2.0	1.0	671	$1,600	$2.38	0d	1	1.42mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	18d	1	1.45mi
1201 Fort St Lincoln Park, MI	1.0	1.0	636	$795	$1.25	22d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   status $89,900 Active 16 DOM
2. 2026-06-18
   days on market $89,900 Active Under Contract 16 DOM
3. 2026-06-17
   days on market $89,900 Active Under Contract 15 DOM
4. 2026-06-16
   days on market $89,900 Active Under Contract 14 DOM
5. 2026-06-15
   days on market $89,900 Active Under Contract 13 DOM
6. 2026-06-13
   statusdays on market $89,900 Active Under Contract 11 DOM
7. 2026-06-09
   days on market $89,900 Active 7 DOM
8. 2026-06-08
   days on market $89,900 Active 6 DOM
9. 2026-06-07
   days on market $89,900 Active 5 DOM
10. 2026-06-04
    days on market $89,900 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark

    Show marketing remark (845 chars)

    Welcome home to this charming and move-in-ready 2-bedroom, 1-bath ranch! Perfect for first-time homebuyers, downsizers, or investors looking to add a turnkey property to their portfolio. This well-maintained home features brand-new stainless-steel appliances, including a washer and dryer, fresh paint throughout, and new carpeting, creating a clean and modern feel from the moment you walk in. The full basement offers endless possibilities for additional living space, storage, or future finishing opportunities. Step outside to enjoy the fully privacy-fenced backyard with an extra-large lot, providing plenty of room for entertaining, pets, gardening, or simply relaxing outdoors. Conveniently located and offering immediate comfort and value, this home is a fantastic opportunity you won't want to miss. Schedule your private showing today!

12. 2026-06-02
    listed $89,900 Active 1 DOM

    Show marketing remark (845 chars)

    Welcome home to this charming and move-in-ready 2-bedroom, 1-bath ranch! Perfect for first-time homebuyers, downsizers, or investors looking to add a turnkey property to their portfolio. This well-maintained home features brand-new stainless-steel appliances, including a washer and dryer, fresh paint throughout, and new carpeting, creating a clean and modern feel from the moment you walk in. The full basement offers endless possibilities for additional living space, storage, or future finishing opportunities. Step outside to enjoy the fully privacy-fenced backyard with an extra-large lot, providing plenty of room for entertaining, pets, gardening, or simply relaxing outdoors. Conveniently located and offering immediate comfort and value, this home is a fantastic opportunity you won't want to miss. Schedule your private showing today!

ⓘ 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: $1,355 · $113/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$15/yr (+$1/mo · 1.1%)

ⓘ 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 · 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: $13,383
• − Mortgage interest: −$5,036
• − Property taxes: −$1,355
• − Insurance: −$450
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$2,615
• Taxable income: $1,786
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $2,682/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: Ecorse Public Schools
• NCES district ID: 2612930
• Math proficiency: 3% ▼ -4.00%
• Reading proficiency: 7% ▼ -6.00%
• Median HH income: $28,957
• Composite: 3.46/100
• National rank: #10075
• State rank: #536 of 540 in MI

Livability — Ecorse

• Score: 69/100
• State rank: #348
• US rank: #8880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ecorse, MI
• City population: 9,166
• Population (ZIP): 9,166

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 0.69)
• Race & ethnicity: Black 45% White 26% Hispanic / Latino 21% Two or more races 15% Native American 4%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala, Jamaica
• Languages at home: 86% English-only · Spanish 13%

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: ▲ 102.51%
• Current HPI: 404.5927
• 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

+80.2% since first listed

27 events — show timeline

• 2026-06-02 Listed $89,900 REALCOMP
• 2026-06-02 Listed $89,900 MiRealSource-MiMLS
• 2014-06-11 Listing Removed — MiRealSource-MiMLS
• 2014-06-11 Listing Removed — REALCOMP
• 2013-11-26 Listed $8,990 MiRealSource-MiMLS
• 2013-11-26 Listed $8,990 REALCOMP
• 2008-04-14 Sold (MLS) $6,200 MiRealSource-MiMLS
• 2008-04-14 Sold (MLS) $6,200 REALCOMP
• 2008-02-08 Listing Removed — MiRealSource-MiMLS
• 2008-01-20 Listing Removed — REALCOMP
• 2007-10-23 Listed $14,900 REALCOMP
• 2007-10-23 Listed $9,900 MiRealSource-MiMLS
• 2007-10-22 Listed $9,900 REALCOMP
• 2003-11-18 Sold (Public Records) $61,800 Public Records
• 2003-11-15 Listing Removed — MiRealSource-MiMLS
• 2003-08-04 Listing Removed — MiRealSource-MiMLS
• 2003-06-04 Listed $54,900 REALCOMP
• 2003-06-04 Listed $54,900 MiRealSource-MiMLS
• 2003-05-15 Listed $55,000 REALCOMP
• 2003-05-15 Listed $55,000 MiRealSource-MiMLS
• 2003-05-06 Sold (MLS) $42,900 REALCOMP
• 2003-04-29 Sold (MLS) $42,900 REALCOMP
• 2003-04-29 Sold (MLS) $42,900 MiRealSource-MiMLS
• 2003-02-27 Listing Removed — MiRealSource-MiMLS
• 2003-02-08 Listed $49,900 REALCOMP
• 2003-02-08 Listed $49,900 MiRealSource-MiMLS
• 2003-02-08 Listed $49,900 REALCOMP

Property tax history

-2.5%/yr

Latest (2025): $1,355 · -0.0% YoY. Source: county tax records.