5903 Wayburn St · Detroit, MI 48224

$145,000

4 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 76 Days on market

Built 1926 3,920 sqft lot $128/sqft · 139% above area

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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 +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully renovated 4-bedroom, 2 full bathroom home, thoughtfully updated from top to bottom with modern finishes and a functional layout designed for today's lifestyle. This home features two spacious bedrooms on the main level and two additional bedrooms upstairs, offering flexibility for families, guests, or a home office setup. Each level is complemented by a full bathroom, providing both comfort and convenience. Step inside to discover a bright and inviting interior with updated flooring, a refreshed kitchen with contemporary finishes, and stylishly renovated bathrooms. Every detail has been carefully curated to create a clean, modern aesthetic while maintaining a warm and welcoming feel. Whether you're a first-time buyer or looking for a turnkey property, this home offers the perfect blend of space, style, and functionality. Mechanicals to be installed before closing.

Key facts

• 3,920 sq ft lot
• Built 1926
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 10.2% in Detroit — 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 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 39% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 76 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $88k; list at $145k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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?
8. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

• ARV (median comp): $59,983
• List price: $145,000
• Delta: 141.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5777 Lakepointe St	0.13mi	4/2.5	1,075 (-5%)	2mo	$174,999	$163	77
5566 LAKEPOINTE S S. Chandler Park St	0.25mi	3/1.5 (-1)	1,108 (-2%)	3mo	$57,000	$51	75
9500 Lakepointe St	0.43mi	3/1.0 (-1)	1,130 (-0%)	0mo	$125,000	$111	74
4871 Lakepointe St	0.59mi	3/1.5 (-1)	1,100 (-3%)	2mo	$160,000	$145	59
4844 Manistique St	0.60mi	3/1.0 (-1)	1,088 (-4%)	2mo	$19,900	$18	58
4820 Lakepointe St	0.64mi	3/1.5 (-1)	1,100 (-3%)	2mo	$160,000	$145	56
4810 Lakepointe St	0.65mi	4/1.0	1,218 (+7%)	3mo	$200,000	$164	55
9988 Somerset Ave	0.70mi	3/1.0 (-1)	1,206 (+6%)	1mo	$130,000	$108	51
9768 Manistique St	0.56mi	3/1.0 (-1)	986 (-13%)	0mo	$35,000	$35	47
13113 Camden St	0.73mi	3/1.0 (-1)	1,224 (+8%)	2mo	$88,000	$72	46
9817 Somerset Ave	0.61mi	3/1.0 (-1)	1,290 (+14%)	2mo	$30,000	$23	42
10185 Beaconsfield St	0.71mi	3/1.0 (-1)	1,300 (+14%)	2mo	$73,000	$56	36

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.65×
• Total profit: $-14,316
• Equity at exit: $21,620

10-year hold

• IRR: -3.8%
• Equity multiple: 0.77×
• Total profit: $-9,274
• Equity at exit: $12,537

Cash invested: $40,600 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,466 high
• Mortgage (P&I): −$760
• Tax from tax record: −$142 /mo · $1,704/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $196

Break-even live

Break-even rent $1,219

Max offer price $145,000

Occupancy floor 82%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.14mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.27mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.29mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.34mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	0.44mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.47mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.52mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.53mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.56mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	0.58mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.58mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.60mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.67mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.67mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.78mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.83mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.84mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.87mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.87mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.93mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.93mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.97mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.01mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	1.03mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	2d	1	1.14mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.20mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.25mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	1.28mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.31mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.32mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.32mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.33mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	1.34mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	1.34mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	1.37mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.38mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.39mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	1.42mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	44d	1	1.45mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	44d	1	1.49mi

Listing history 30 events

1. 2026-06-18
   days on market $145,000 Active 76 DOM
2. 2026-06-17
   days on market $145,000 Active 75 DOM
3. 2026-06-15
   days on market $145,000 Active 73 DOM
4. 2026-06-13
   days on market $145,000 Active 71 DOM
5. 2026-06-13
   days on market $145,000 Active 70 DOM
6. 2026-06-09
   days on market $145,000 Active 67 DOM
7. 2026-06-08
   days on market $145,000 Active 66 DOM
8. 2026-06-07
   days on market $145,000 Active 65 DOM
9. 2026-06-04
   days on market $145,000 Active 62 DOM
10. 2026-06-03
    days on market $145,000 Active 61 DOM
11. 2026-06-02
    days on market $145,000 Active 60 DOM
12. 2026-06-01
    days on market $145,000 Active 59 DOM
13. 2026-05-31
    days on market $145,000 Active 58 DOM
14. 2026-05-14
    price $145,000 904-char remark

    Show marketing remark (916 chars)

    Welcome to this beautifully renovated 4-bedroom, 2 full bathroom home, thoughtfully updated from top to bottom with modern finishes and a functional layout designed for today’s lifestyle. This home features two spacious bedrooms on the main level and two additional bedrooms upstairs, offering flexibility for families, guests, or a home office setup. Each level is complemented by a full bathroom, providing both comfort and convenience. Step inside to discover a bright and inviting interior with updated flooring, a refreshed kitchen with contemporary finishes, and stylishly renovated bathrooms. Every detail has been carefully curated to create a clean, modern aesthetic while maintaining a warm and welcoming feel. Whether you’re a first-time buyer or looking for a turnkey property, this home offers the perfect blend of space, style, and functionality. Mechanicals to be installed before closing.

15. 2026-05-14
    price $145,000 916-char remark

    Show marketing remark (916 chars)

    Welcome to this beautifully renovated 4-bedroom, 2 full bathroom home, thoughtfully updated from top to bottom with modern finishes and a functional layout designed for today’s lifestyle. This home features two spacious bedrooms on the main level and two additional bedrooms upstairs, offering flexibility for families, guests, or a home office setup. Each level is complemented by a full bathroom, providing both comfort and convenience. Step inside to discover a bright and inviting interior with updated flooring, a refreshed kitchen with contemporary finishes, and stylishly renovated bathrooms. Every detail has been carefully curated to create a clean, modern aesthetic while maintaining a warm and welcoming feel. Whether you’re a first-time buyer or looking for a turnkey property, this home offers the perfect blend of space, style, and functionality. Mechanicals to be installed before closing.

16. 2026-04-03
    listed $150,000 Active 904-char remark

    Show marketing remark (916 chars)

    Welcome to this beautifully renovated 4-bedroom, 2 full bathroom home, thoughtfully updated from top to bottom with modern finishes and a functional layout designed for today’s lifestyle. This home features two spacious bedrooms on the main level and two additional bedrooms upstairs, offering flexibility for families, guests, or a home office setup. Each level is complemented by a full bathroom, providing both comfort and convenience. Step inside to discover a bright and inviting interior with updated flooring, a refreshed kitchen with contemporary finishes, and stylishly renovated bathrooms. Every detail has been carefully curated to create a clean, modern aesthetic while maintaining a warm and welcoming feel. Whether you’re a first-time buyer or looking for a turnkey property, this home offers the perfect blend of space, style, and functionality. Mechanicals to be installed before closing.

17. 2026-04-03
    listed $150,000 Active 916-char remark

    Show marketing remark (916 chars)

    Welcome to this beautifully renovated 4-bedroom, 2 full bathroom home, thoughtfully updated from top to bottom with modern finishes and a functional layout designed for today’s lifestyle. This home features two spacious bedrooms on the main level and two additional bedrooms upstairs, offering flexibility for families, guests, or a home office setup. Each level is complemented by a full bathroom, providing both comfort and convenience. Step inside to discover a bright and inviting interior with updated flooring, a refreshed kitchen with contemporary finishes, and stylishly renovated bathrooms. Every detail has been carefully curated to create a clean, modern aesthetic while maintaining a warm and welcoming feel. Whether you’re a first-time buyer or looking for a turnkey property, this home offers the perfect blend of space, style, and functionality. Mechanicals to be installed before closing.

18. 2023-01-17
    soldstatus $88,500
19. 2022-12-21
    soldstatus $60,000
20. 2018-08-02
    soldstatus $31,500 Sold
21. 2018-08-02
    soldstatus $31,500 Closed
22. 2018-07-10
    status Pending
23. 2018-07-10
    status Pending
24. 2018-06-22
    listed $34,900 Active
25. 2018-06-22
    listed $34,900 Active
26. 2007-04-04
    soldstatus $28,900
27. 2007-04-04
    soldstatus $28,900
28. 2007-03-29
    historical
29. 2007-03-05
    listed $28,900
30. 2007-03-05
    listed $28,900

ⓘ 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: $1,704 · $142/mo
• Projected year-2 tax: $1,968 · $164/mo
• Expected delta: +$265/yr (+$22/mo · 15.5%)

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,595
• − Mortgage interest: −$8,122
• − Property taxes: −$1,704
• − Insurance: −$725
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − Depreciation: −$4,218
• Taxable income: $11
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $2,344/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+401.7% since first listed

17 events — show timeline

• 2026-05-14 Price Changed $145,000 MiRealSource-MiMLS
• 2026-05-14 Price Changed $145,000 REALCOMP
• 2026-04-03 Listed $150,000 REALCOMP
• 2026-04-03 Listed $150,000 MiRealSource-MiMLS
• 2023-01-17 Sold (Public Records) $88,500 Public Records
• 2022-12-21 Sold (Public Records) $60,000 Public Records
• 2018-08-02 Sold (MLS) $31,500 MiRealSource-MiMLS
• 2018-08-02 Sold (MLS) $31,500 REALCOMP
• 2018-07-10 Pending — MiRealSource-MiMLS
• 2018-07-10 Pending — REALCOMP
• 2018-06-22 Listed $34,900 MiRealSource-MiMLS
• 2018-06-22 Listed $34,900 REALCOMP
• 2007-04-04 Sold (MLS) $28,900 REALCOMP
• 2007-04-04 Sold (MLS) $28,900 MiRealSource-MiMLS
• 2007-03-29 Listing Removed — MiRealSource-MiMLS
• 2007-03-05 Listed $28,900 REALCOMP
• 2007-03-05 Listed $28,900 MiRealSource-MiMLS

Property tax history

+6.2%/yr

Latest (2025): $1,704 · -54.2% YoY. Source: county tax records.