5963 Wayburn St · Detroit, MI 48224 3042

$50,000

3 bd · 1.5 ba · 1,069 sqft · SingleFamily · 10 Days on market

Built 1928 Poor condition 3,920 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.3/10.0
• Condition / age +1.0/5.0

Listing remarks

First-time homebuyer or investor special! A 3-bedroom bungalow needs a few repairs, make this your dream home or a special addition to your investment portfolio. Tenant will vacate the premises prior to closing. Licensed real estate agents must accompany the showing. All data and measurements EST. BATVAI.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1928

🏷️ Possibly a rental listed for sale. The $50,000 price doesn't fit this home's estimated sale value (~$115,452) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 22.2% vs local median 10.2% in Detroit — 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 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: 1 active listings in the ZIP; 40 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 $2k of equity ($346 loan paydown + $2k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1928 — 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. 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.
7. 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.
8. 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: 2.55% ✓
• Cap rate: 22.15%
• Cash-on-cash: 56.64%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $115,452
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5777 Lakepointe St	0.16mi	4/2.5 (+1)	1,075 (+1%)	2mo	$174,999	$163	81
5566 LAKEPOINTE S S. Chandler Park St	0.29mi	3/1.5	1,108 (+4%)	3mo	$57,000	$51	78
9500 Lakepointe St	0.38mi	3/1.0	1,130 (+6%)	0mo	$125,000	$111	70
4871 Lakepointe St	0.64mi	3/1.5	1,100 (+3%)	2mo	$160,000	$145	64
4844 Manistique St	0.66mi	3/1.0	1,088 (+2%)	2mo	$19,900	$18	62
9768 Manistique St	0.50mi	3/1.0	986 (-8%)	0mo	$35,000	$35	61
4820 Lakepointe St	0.70mi	3/1.5	1,100 (+3%)	2mo	$160,000	$145	61
10441 Roxbury St	0.74mi	3/1.5	1,127 (+5%)	3mo	$59,000	$52	54
13136 Maiden St	0.72mi	4/1.0 (+1)	1,144 (+7%)	1mo	$10,000	$9	47
9988 Somerset Ave	0.67mi	3/1.0	1,206 (+13%)	1mo	$130,000	$108	44
13113 Camden St	0.70mi	3/1.0	1,224 (+14%)	2mo	$88,000	$72	39
4810 Lakepointe St	0.70mi	4/1.0 (+1)	1,218 (+14%)	3mo	$200,000	$164	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.6%
• Equity multiple: 4.44×
• Total profit: $48,128
• Equity at exit: $22,482

10-year hold

• IRR: 61.2%
• Equity multiple: 9.03×
• Total profit: $112,385
• Equity at exit: $34,648

Cash invested: $14,000 (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 3042

• Active inventory: 1
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,274 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $661

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 43%

Sensitivity live

Price	-10% $695	-5% $678	+0% $661	+5% $644	+10% $626
Rent	-10% $560	-5% $610	+0% $661	+5% $711	+10% $761
Rate	-1.0pp $686	-0.5pp $674	base $661	+0.5pp $648	+1.0pp $635

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: $12,500
• Closing costs: $1,500
• 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	0.20mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.22mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.27mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	0.30mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.31mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.37mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	0.42mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.45mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	0.45mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.48mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	0.50mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.52mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	0.54mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.55mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.62mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.64mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.70mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.71mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.73mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.73mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.75mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	0.76mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.80mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.80mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.86mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	0.91mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	0.92mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.94mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.95mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.98mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	0.99mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	1.01mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	18d	1	1.08mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	1.09mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	1.12mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.18mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.23mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.25mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.26mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	1.26mi

Listing history 2 events

1. 2025-12-11
   status Pending
2. 2025-12-01
   listed $50,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $15,286
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$1,455
• Taxable income: $7,585
• Est. tax owed @ 24.0%: −$1,820
• After-tax cash flow: $6,109/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This single-family home requires extensive repairs and maintenance, including a new roof, repainting, and landscaping. Significant improvements can be made to increase its resale and rental value.

Repairs flagged

• Major roof — Signs of significant wear and tear
• Major siding — Peeling and deteriorating
• Major landscaping — Overgrown and unkempt
• Major fencing — Not visible

Value-add opportunities

• Both landscaping — Aesthetic improvement and increased curb appeal
• Both painting — Enhances the home's appearance and can increase its value
• Both roof replacement — Essential for structural integrity and long-term value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of significant wear and tear	Major	$15,000–50,000
siding · Peeling and deteriorating	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
fencing · Not visible	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both landscaping — Aesthetic improvement and increased curb appeal ↑
• Both painting — Enhances the home's appearance and can increase its value ↑
• Both roof replacement — Essential for structural integrity and long-term value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

2 events — show timeline

• 2025-12-11 Pending — MiRealSource-MiMLS
• 2025-12-01 Listed $50,000 MiRealSource-MiMLS