509 Cleophus Pkwy · Lincoln Park, MI 48146

$174,900

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 24 Days on market

Built 1958 3,920 sqft lot Est $130k · 35% over ↓ 3% since listing

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Why this score? — see what drove the F 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 +12.6/30.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Rent growth +3.7/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this 3-bedroom, 1-bath home with a finished basement and on a double lot! This property features updated kitchen and tiled bathroom with tons of space and potential to be your dream home! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out - homes like this don't last long!

Key facts

• Near schools
• Near i-75
• Double lot

Tags

• FINISHED BASEMENT
• DOUBLE LOT
• NEAR I-75
• NEAR SCHOOLS
• NEAR SHOPPING CENTERS
• NEAR PARKS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 116)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished basement; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-24 ($-282/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (23.5% below list).
• Recommended offer: $134k (23.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#82 in MI, #1,720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D-, crime F, employment D-.
• Lincoln Park School District (suburban): math 15% / reading 32% proficiency, ranked #440 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 154 active listings in the ZIP; 21 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 24 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,836 (23.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1958 — 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 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $129,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Garfield Ave	0.18mi	3/1.0	888 (0%)	6mo	$64,000	$72	86
483 Park Ave	0.05mi	3/2.0	988 (+11%)	3mo	$206,000	$209	72
350 Labadie St	0.32mi	3/1.0	960 (+8%)	3mo	$99,000	$103	69
1368 Wilson Ave	0.61mi	3/1.0	912 (+3%)	5mo	$165,000	$181	63
1260 Marion Ave	0.73mi	3/1.0	874 (-2%)	1mo	$155,000	$177	62
4635 5th St	0.49mi	3/1.0	965 (+9%)	1mo	$99,900	$104	62
277 White St	0.30mi	3/1.0	1,007 (+13%)	6mo	$151,000	$150	59
1473 Austin Ave	0.69mi	3/1.0	864 (-3%)	6mo	$126,150	$146	59
4250 7th St	0.61mi	2/1.0 (-1)	935 (+5%)	0mo	$37,750	$40	57
816 London Ave	0.72mi	3/1.0	944 (+6%)	2mo	$187,000	$198	54
1312 Ferris Ave	0.74mi	3/1.5	930 (+5%)	4mo	$117,000	$126	52
4353 3rd St	0.58mi	2/2.0 (-1)	769 (-13%)	4mo	$22,000	$29	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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-27,639
• Equity at exit: $26,078

10-year hold

• IRR: -4.9%
• Equity multiple: 0.66×
• Total profit: $-16,648
• Equity at exit: $15,122

Cash invested: $48,972 (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 48146

• Home prices YoY: -32.7%
• Rents YoY: 4.7%
• Active inventory: 154
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$917
• Tax from tax record: −$91 /mo · $1,089/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-24

Break-even live

Break-even rent $1,368

Max offer price $170,747

Occupancy floor 97%

Sensitivity live

Price	-10% $76	-5% $26	+0% $-24	+5% $-73	+10% $-123
Rent	-10% $-129	-5% $-76	+0% $-24	+5% $29	+10% $82
Rate	-1.0pp $65	-0.5pp $21	base $-24	+0.5pp $-69	+1.0pp $-115

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	25d	1	0.25mi
1331 Pingree Ave Lincoln Park, MI	2.0	1.0	725	$1,300	$1.79	0d	1	0.41mi
4573 3rd St Ecorse, MI	2.0	1.0	1000	$1,300	$1.30	16d	1	0.58mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	18d	1	0.68mi
4471 High St Unit 81-13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	25d	1	0.83mi
4471 High St Unit 71-7 Ecorse, MI	2.0	1.0	700	$1,150	$1.64	25d	1	0.83mi
4435 High St Ecorse, MI	2.0	1.0	792	$1,095	$1.38	6d	1	0.83mi
4581 High St Unit 13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	25d	1	0.86mi
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	18d	1	0.95mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	19d	1	0.95mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	25d	1	1.11mi
177 N Riverbank St Wyandotte, MI	2.0	1.0	671	$1,600	$2.38	0d	1	1.15mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	25d	1	1.17mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	19d	1	1.18mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	25d	1	1.19mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	15d	1	1.21mi
168 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,295	$1.20	6d	1	1.26mi
170 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,399	$1.30	3d	1	1.26mi
146 Bondie St Wyandotte, MI	2.0	1.0	820	$1,650	$2.01	0d	1	1.27mi
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	17d	1	1.32mi
850 Biddle Ave Unit 2 Wyandotte, MI	2.0	1.0	800	$1,300	$1.62	0d	1	1.46mi

Listing history 6 events

1. 2026-05-12
   status Active
2. 2026-05-11
   historical
3. 2026-05-07
   price $174,900 385-char remark

   Show marketing remark (385 chars)

   Welcome home to this 3-bedroom, 1-bath home with a finished basement and on a double lot! This property features updated kitchen and tiled bathroom with tons of space and potential to be your dream home! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out - homes like this don't last long!

4. 2026-05-07
   price $174,900

   Show marketing remark (385 chars)

   Welcome home to this 3-bedroom, 1-bath home with a finished basement and on a double lot! This property features updated kitchen and tiled bathroom with tons of space and potential to be your dream home! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out - homes like this don't last long!

5. 2026-05-01
   listed $179,900 Active

   Show marketing remark (385 chars)

   Welcome home to this 3-bedroom, 1-bath home with a finished basement and on a double lot! This property features updated kitchen and tiled bathroom with tons of space and potential to be your dream home! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out - homes like this don't last long!

6. 2026-05-01
   listed $179,900 Active 385-char remark

   Show marketing remark (385 chars)

   Welcome home to this 3-bedroom, 1-bath home with a finished basement and on a double lot! This property features updated kitchen and tiled bathroom with tons of space and potential to be your dream home! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out - homes like this don't last long!

ⓘ 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: $1,089 · $91/mo
• Projected year-2 tax: $1,891 · $158/mo
• Expected delta: +$802/yr (+$67/mo · 73.7%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,060
• − Mortgage interest: −$9,797
• − Property taxes: −$1,089
• − Insurance: −$874
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$5,088
• Taxable loss: −$3,358
• Est. tax savings @ 24.0%: +$806
• After-tax cash flow: $524/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: Lincoln Park School District
• NCES district ID: 2621600
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $41,486
• Composite: 19.93/100
• National rank: #8678
• State rank: #440 of 540 in MI

Livability — Lincoln Park

• Score: 80/100
• State rank: #82
• US rank: #1720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Park, MI
• County: Wayne County · 1,562,939 people
• City population: 39,257
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,257
• Household income: $58,616
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1142.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 17% Arabic 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: ▼ -108.25%
• Current HPI: 222.8545
• Rent YoY: ▲ 4.65%
• 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

-2.8% since first listed

6 events — show timeline

• 2026-05-12 Relisted — REALCOMP
• 2026-05-11 Listing Removed — REALCOMP
• 2026-05-07 Price Changed $174,900 MiRealSource-MiMLS
• 2026-05-07 Price Changed $174,900 REALCOMP
• 2026-05-01 Listed $179,900 MiRealSource-MiMLS
• 2026-05-01 Listed $179,900 REALCOMP

Property tax history

+0.2%/yr

Latest (2025): $1,089 · -19.3% YoY. Source: county tax records.