4517 Grindley Park St · Dearborn Heights, MI 48125

$117,500

2 bd · 1.0 ba · 868 sqft · SingleFamily public records · 1 Days on market

Built 1936 6,534 sqft lot Est $163k · 28% 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super cute and affordable- in a great neighborhood walking distance to both schools and shopping really makes this a smart choice! Home features a wonderful open floor plan, with living room and kitchen flowing perfectly together. Very tasteful luxury plank flooring and modest airy paint colors help make the living space seamless. The kitchen features oversized cabinets with updated countertops, and all appliances. Two perfect bedrooms with stylish wood flooring, and modern bathroom featuring updated flooring, vanity, toiletries and bathtub. Rounding things off, you have an extra large mud/utility room off the back of the home, with access to your yard and parking for extra privacy. Extra large corner lot for all your summertime actives and brand new garage like shed completes this home.

Key facts

• Open floor plan
• Oversized cabinets
• Updated countertops

Tags

• OPEN FLOOR PLAN
• OVERSIZED CABINETS
• UPDATED COUNTERTOPS
• EXTRA LARGE MUD UTILITY ROOM
• EXTRA LARGE CORNER LOT
• BRAND NEW GARAGE LIKE SHED

Property features AI

Finance

• Other: Listing broker: IQ Properties LLC

Exterior

• Parking: No garage; Parking pad
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Vinyl siding; Built with crawl space foundation
• Exterior features: Paved road access; Lot dimensions approximately 64 x 105 (0.15 acres)

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator; Dishwasher not listed
• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Dryer; Washer; Free-standing electric range; Free-standing refrigerator; Crawl space basement; Home warranty included
• Laundry & utility: Washer and dryer in the home

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Cap rate 8.4% vs local median 5.5% in Dearborn Heights — 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 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D+, employment D+.
• Dearborn Heights School District #7 (suburban): math 13% / reading 26% proficiency, ranked #466 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 137 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $812 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 29y 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 $53k; list at $118k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,500

Questions for the listing agent

1. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 1.22% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $163,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23245 Annapolis St	0.04mi	2/1.0	870 (+0%)	0mo	$150,000	$172	97
4140 Syracuse St	0.31mi	3/1.0 (+1)	860 (-1%)	2mo	$150,000	$174	78
4901 Cornell St	0.30mi	2/1.0	819 (-6%)	3mo	$92,150	$113	74
4165 Westpoint St	0.38mi	3/1.0 (+1)	847 (-2%)	1mo	$170,000	$201	73
4474 Syracuse St	0.24mi	3/1.0 (+1)	768 (-12%)	1mo	$165,000	$215	64
5671 Syracuse St	0.50mi	2/1.0	832 (-4%)	7mo	$144,000	$173	64
4145 Parker St	0.21mi	3/1.0 (+1)	976 (+12%)	1mo	$195,000	$200	64
24301 Stanford St	0.60mi	2/1.0	824 (-5%)	2mo	$155,000	$188	62
4506 Syracuse St	0.24mi	3/1.0 (+1)	768 (-12%)	4mo	$164,200	$214	62
24337 Ross St	0.73mi	2/1.0	780 (-10%)	7mo	$178,000	$228	43
21919 Powers Ave	0.67mi	3/1.0 (+1)	988 (+14%)	2mo	$105,000	$106	39
24360 Pennie St	0.65mi	3/1.0 (+1)	988 (+14%)	4mo	$142,000	$144	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 · 2.03% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-7,211
• Equity at exit: $17,520

10-year hold

• IRR: 2.4%
• Equity multiple: 1.16×
• Total profit: $5,422
• Equity at exit: $10,159

Cash invested: $32,900 (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 48125

• Rents YoY: 2.0%
• Active inventory: 137
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,429 high
• Mortgage (P&I): −$616
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $206

Break-even live

Break-even rent $1,168

Max offer price $117,500

Occupancy floor 81%

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4481 Westpoint St Dearborn Heights, MI	3.0	2.0	768	$1,549	$2.02	14d	1	0.35mi
4934 McKinley St Dearborn Heights, MI	3.0	1.0	1051	$1,700	$1.62	1d	1	0.47mi
5640 Pardee Ave Unit 7 Dearborn Heights, MI	1.0	1.0	799	$999	$1.25	2d	1	0.50mi
5680 Pardee Ave Unit 3 Dearborn Heights, MI	1.0	1.0	750	$999	$1.33	18d	1	0.52mi
5680 Pardee Ave Dearborn Heights, MI	1.0	1.0	750	$999	$1.33	24d	1	0.52mi
5640 Pardee Ave Dearborn Heights, MI	1.0	1.0	799	$999	$1.25	24d	1	0.58mi
24154 Dartmouth St Dearborn, MI	2.0	1.0	950	$1,275	$1.34	15d	1	0.67mi
4757 Dudley St Dearborn Heights, MI	3.0	1.0	995	$1,350	$1.36	10d	1	0.71mi
3620 Monroe St Dearborn, MI	3.0	2.0	1100	$1,800	$1.64	10d	1	0.76mi
24601 Andover Dr Dearborn Heights, MI	3.0	1.5	1092	$1,700	$1.56	1d	1	0.80mi
4810 Campbell St Dearborn Heights, MI	3.0	1.0	1000	$1,700	$1.70	1d	1	0.87mi
24442 Union St Dearborn, MI	3.0	1.5	1000	$1,900	$1.90	1d	1	0.88mi
4638 Gertrude St Dearborn Heights, MI	3.0	1.0	1020	$1,700	$1.67	5d	1	0.92mi
4914 Gertrude St Dearborn Heights, MI	2.0	1.0	908	$1,230	$1.35	17d	1	0.93mi
25016 Lehigh St Dearborn Heights, MI	2.0	1.0	1000	$1,400	$1.40	4d	1	0.96mi
2825 Queen St Dearborn, MI	2.0	1.0	1000	$1,299	$1.30	43d	1	1.01mi
6477 Westpoint St Taylor, MI	1.0	1.0	650	$900	$1.38	5d	1	1.12mi
3809 Heritage Pkwy Dearborn, MI	2.0	1.5	1035	$1,400	$1.35	43d	1	1.14mi
20728 Carlysle St Dearborn, MI	3.0	1.0	1087	$1,850	$1.70	1d	1	1.20mi
3755 Heritage Pkwy Dearborn, MI	2.0	1.0	830	$1,450	$1.75	43d	1	1.20mi
3763 Heritage Pkwy Dearborn, MI	2.0	1.5	1035	$1,450	$1.40	43d	1	1.21mi
5845 Michael St Taylor, MI	2.0	1.0	618	$1,325	$2.14	4d	1	1.26mi
21337 Audette St Dearborn, MI	3.0	1.0	964	$1,850	$1.92	43d	1	1.29mi
4681 Weddell St Dearborn Heights, MI	3.0	1.0	860	$1,600	$1.86	1d	1	1.40mi
4704 Jackson St Dearborn Heights, MI	3.0	1.0	1000	$1,500	$1.50	21d	1	1.44mi
25722 Carlysle St Dearborn Heights, MI	3.0	1.0	1040	$1,450	$1.39	17d	1	1.46mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $117,500 Active 1 DOM

ⓘ 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: $3,094 · $258/mo
• Projected year-2 tax: $3,094 · $258/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 4/10 Moderate FEMA zone X (shaded) · 33% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,150
• − Mortgage interest: −$6,582
• − Property taxes: −$3,094
• − Insurance: −$588
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$3,418
• Taxable income: $724
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $2,298/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 Heights School District #7
• NCES district ID: 2611610
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $47,468
• Composite: 17.21/100
• National rank: #9101
• State rank: #466 of 540 in MI

Livability — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 22,125
• Household income: $60,195
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 654.0

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 (76%)
• Race & ethnicity: White 76% Black 10% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Arab 3% Slovak 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 13% Spanish 3% Russian/Polish/Slavic 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: ▼ -214.70%
• Current HPI: 218.4698
• Rent YoY: ▲ 2.03%
• 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

+83.6% since first listed

4 events — show timeline

• 2026-06-17 Listed $117,500 MiRealSource-MiMLS
• 2026-06-17 Listed $117,500 REALCOMP
• 1997-09-12 Sold (MLS) $53,250 REALCOMP
• 1997-06-07 Listed $64,000 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $3,094 · +3.7% YoY. Source: county tax records.