28 E Henry St · River Rouge, MI 48218

$120,000

3 bd · 4.0 ba · 1,026 sqft · SingleFamily public records · 30 Days on market

Built 1910 3,485 sqft lot Est $108k · 11% over

---

Why this score? — see what drove the D- 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 +10.7/30.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +0.5/10.0

Listing remarks MLS

Endless possibilities await! Bring your ideas and vision to transform this property into your dream home or investment opportunity. Previously configured as a 4-unit property and now reconfigured into a 2-unit layout, this home offers flexibility for owner-occupants or investors alike. Live in one unit while letting a tenant help pay half your mortgage, or explore the potential for future income opportunities. A rare chance to build equity and create something truly special! Freshly painted throughout, new flooring and new gas furnace.

Key facts

• 2 unit layout
• New flooring
• 4 unit property

Tags

• 4 UNIT PROPERTY
• 2 UNIT LAYOUT
• NEW FLOORING
• NEW GAS FURNACE

Property features AI

Exterior

• Utilities: Natural gas connected
• Home design: Single-family residence; Residential property
• Construction: Built in 1910; Aluminum siding; Asphalt shingle roof
• Exterior features: Paved road access; Public water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 8 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-57 ($-689/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (20.0% below list).
• Recommended offer: $96k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 8.1% in River Rouge — 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 65/100 on livability (#454 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B+; Watch: health & safety D, schools F, crime F.
• River Rouge School District (suburban): math 3% / reading 12% proficiency, ranked #535 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $13k of equity ($830 loan paydown + $12k 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $120k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,051 (20.0% 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 1910 — 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 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?
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: 0.80% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $107,730
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Burke St	0.21mi	4/1.0 (+1)	1,032 (+1%)	1mo	$45,625	$44	71
42 E Henry St	0.05mi	3/1.0	916 (-11%)	0mo	$115,000	$126	67
111 Burke St	0.25mi	2/1.0 (-1)	1,000 (-2%)	5mo	$24,000	$24	63
349 Frazier St	0.66mi	3/2.0	1,036 (+1%)	2mo	$120,000	$116	58
294 Richter St	0.48mi	3/1.0	1,056 (+3%)	6mo	$123,000	$116	56
251 Richter St	0.43mi	3/1.0	974 (-5%)	5mo	$87,700	$90	55
285 Campbell St	0.59mi	3/1.0	1,029 (+0%)	6mo	$125,000	$121	55
235 Goodell St	0.46mi	3/1.5	1,092 (+6%)	4mo	$147,000	$135	54
235 Richter St	0.41mi	3/1.0	1,152 (+12%)	1mo	$45,625	$40	47
251 Beechwood St	0.44mi	3/1.0	1,150 (+12%)	4mo	$30,000	$26	44
287 Richter St	0.48mi	3/1.0	1,140 (+11%)	6mo	$120,000	$105	42
319 Polk Ave	0.52mi	2/1.0 (-1)	912 (-11%)	6mo	$38,500	$42	35

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: 22.8%
• Equity multiple: 2.84×
• Total profit: $61,707
• Equity at exit: $108,106

10-year hold

• IRR: 20.4%
• Equity multiple: 6.49×
• Total profit: $184,604
• Equity at exit: $233,134

Cash invested: $33,600 (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 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $961 high
• Mortgage (P&I): −$629
• Tax from tax record: −$137 /mo · $1,643/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $-57

Break-even live

Break-even rent $1,033

Max offer price $109,864

Occupancy floor —

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 W James St Unit 17 W James Lower River Rouge, MI	2.0	1.0	900	$950	$1.06	14d	1	0.19mi
97 Batavia St Unit 1 River Rouge, MI	2.0	1.0	900	$825	$0.92	24d	1	0.24mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	43d	1	0.54mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	24d	1	0.54mi
3801 18th St Ecorse, MI	3.0	1.0	1196	$1,150	$0.96	17d	1	1.31mi

Listing history 41 events

1. 2026-06-18
   days on market $120,000 Active 30 DOM
2. 2026-06-17
   price $120,000 Active 29 DOM
3. 2026-06-17
   days on market $130,000 Active 29 DOM
4. 2026-06-16
   days on market $130,000 Active 28 DOM
5. 2026-06-15
   days on market $130,000 Active 27 DOM
6. 2026-06-13
   days on market $130,000 Active 25 DOM
7. 2026-06-09
   days on market $130,000 Active 21 DOM
8. 2026-06-08
   days on market $130,000 Active 20 DOM
9. 2026-06-07
   days on market $130,000 Active 19 DOM
10. 2026-06-04
    days on market $130,000 Active 16 DOM
11. 2026-06-03
    days on market $130,000 Active 15 DOM
12. 2026-06-02
    pricedays on market $130,000 Active 14 DOM
13. 2026-06-01
    days on market $140,000 Active 13 DOM
14. 2026-05-31
    days on market $140,000 Active 12 DOM
15. 2026-05-18
    listed $140,000 Active 541-char remark

    Show marketing remark (541 chars)

    Endless possibilities await! Bring your ideas and vision to transform this property into your dream home or investment opportunity. Previously configured as a 4-unit property and now reconfigured into a 2-unit layout, this home offers flexibility for owner-occupants or investors alike. Live in one unit while letting a tenant help pay half your mortgage, or explore the potential for future income opportunities. A rare chance to build equity and create something truly special! Freshly painted throughout, new flooring and new gas furnace.

16. 2026-05-18
    listed $140,000 Active 541-char remark

    Show marketing remark (541 chars)

    Endless possibilities await! Bring your ideas and vision to transform this property into your dream home or investment opportunity. Previously configured as a 4-unit property and now reconfigured into a 2-unit layout, this home offers flexibility for owner-occupants or investors alike. Live in one unit while letting a tenant help pay half your mortgage, or explore the potential for future income opportunities. A rare chance to build equity and create something truly special! Freshly painted throughout, new flooring and new gas furnace.

17. 2026-05-18
    listed $140,000 Active

    Show marketing remark (541 chars)

    Endless possibilities await! Bring your ideas and vision to transform this property into your dream home or investment opportunity. Previously configured as a 4-unit property and now reconfigured into a 2-unit layout, this home offers flexibility for owner-occupants or investors alike. Live in one unit while letting a tenant help pay half your mortgage, or explore the potential for future income opportunities. A rare chance to build equity and create something truly special! Freshly painted throughout, new flooring and new gas furnace.

18. 2023-10-15
    historical $700
19. 2023-10-02
    price $700
20. 2023-08-21
    listed $900
21. 2023-04-27
    historical
22. 2023-04-27
    historical
23. 2023-04-25
    listed $700 Active
24. 2023-04-25
    listed $700 Active
25. 2022-05-05
    soldstatus $73,500
26. 2022-04-29
    historical
27. 2022-04-28
    soldstatus $73,500 Sold
28. 2022-04-28
    soldstatus $73,500 Closed
29. 2022-03-07
    status Pending
30. 2022-03-07
    status Pending
31. 2022-02-11
    price $75,000
32. 2022-02-11
    price $75,000
33. 2021-12-31
    status Active
34. 2021-12-23
    historical
35. 2021-10-27
    listed $85,000 Active
36. 2021-10-27
    listed $85,000 Active
37. 2008-08-18
    soldstatus $21,450
38. 2008-07-25
    historical
39. 2007-10-24
    historical
40. 2007-09-10
    listed $39,500
41. 2007-03-24
    listed $67,900

ⓘ 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: $1,643 · $137/mo
• Projected year-2 tax: $1,745 · $145/mo
• Expected delta: +$103/yr (+$9/mo · 6.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,526
• − Mortgage interest: −$6,722
• − Property taxes: −$1,643
• − Insurance: −$600
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$3,491
• Taxable loss: −$2,774
• Est. tax savings @ 24.0%: +$666
• After-tax cash flow: $-23/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: River Rouge School District
• NCES district ID: 2629760
• Math proficiency: 3% ▼ -7.00%
• Reading proficiency: 12% ▼ -4.00%
• Median HH income: $26,664
• Composite: 5.29/100
• National rank: #10033
• State rank: #535 of 540 in MI

Livability — River Rouge

• Score: 65/100
• State rank: #454
• US rank: #12700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Rouge, MI
• City population: 7,096
• Population (ZIP): 7,096

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 0.66)
• Race & ethnicity: Black 45% White 34% Two or more races 16% Hispanic / Latino 16%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Arabic 2% 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: ▲ 77.93%
• Current HPI: 352.3551
• 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

+106.2% since first listed

27 events — show timeline

• 2026-05-18 Listed $140,000 SW Michigan MLS
• 2026-05-18 Listed $140,000 REALCOMP
• 2026-05-18 Listed $140,000 MiRealSource-MiMLS
• 2023-10-15 Rental Removed $700 APPFOLIO
• 2023-10-02 Price Changed $700 APPFOLIO
• 2023-08-21 Listed for Rent $900 APPFOLIO
• 2023-04-27 Listing Removed — MiRealSource-MiMLS
• 2023-04-27 Listing Removed — REALCOMP
• 2023-04-25 Listed $700 MiRealSource-MiMLS
• 2023-04-25 Listed $700 REALCOMP
• 2022-05-05 Sold (Public Records) $73,500 Public Records
• 2022-04-29 Listing Removed — REALCOMP
• 2022-04-28 Sold (MLS) $73,500 MiRealSource-MiMLS
• 2022-04-28 Sold (MLS) $73,500 REALCOMP
• 2022-03-07 Pending — MiRealSource-MiMLS
• 2022-03-07 Pending — REALCOMP
• 2022-02-11 Price Changed $75,000 MiRealSource-MiMLS
• 2022-02-11 Price Changed $75,000 REALCOMP
• 2021-12-31 Relisted — MiRealSource-MiMLS
• 2021-12-23 Listing Removed — MiRealSource-MiMLS
• 2021-10-27 Listed $85,000 MiRealSource-MiMLS
• 2021-10-27 Listed $85,000 REALCOMP
• 2008-08-18 Sold (MLS) $21,450 MiRealSource-MiMLS
• 2008-07-25 Listing Removed — MiRealSource-MiMLS
• 2007-10-24 Listing Removed — MiRealSource-MiMLS
• 2007-09-10 Listed $39,500 MiRealSource-MiMLS
• 2007-03-24 Listed $67,900 MiRealSource-MiMLS

Property tax history

-4.2%/yr

Latest (2025): $1,643 · -27.7% YoY. Source: county tax records.