5540 Guilford St · Detroit, MI 48224

$62,000

3 bd · 1.0 ba · 1,169 sqft · SingleFamily public records · 47 Days on market

Built 1928 6,970 sqft lot $53/sqft · 44% below area Est $111k · 44% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This all-brick property presents a strong opportunity for a savvy investor or handyman looking for their next rehab project. Featuring three bedrooms, one full bathroom, and one half bath, this home offers a functional layout ready for renovation. Built in 1928, the property retains classic character and includes a full basement and a spacious yard, providing additional flexibility for improvements and long-term use. The home is being sold as-is and will require a full rehab due to smoke damage, making it ideal for investors seeking a project with clear value-add potential. Whether your strategy is to renovate and resell or hold as a rental, this property offers a solid foundation to execute your vision. The large yard and brick construction add to its appeal, while the existing layout supports a straightforward renovation plan. Located in an established neighborhood, the property is surrounded by similar homes and ongoing investment activity, supporting long-term upside. This is a great opportunity for those experienced in renovation projects or looking to expand their portfolio with a property that can be transformed through TLC and thoughtful updates.

Key facts

• Spacious yard
• All brick property
• Full basement

Tags

• ALL BRICK PROPERTY
• FULL BASEMENT
• SPACIOUS YARD
• ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Natural gas water heater
• Home design: Ranch-style single family residence; Built in 1928
• Construction: Brick construction
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating
• Interior features: Fireplace; 6 total rooms; Basement (other type)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.7% 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: 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 37% 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 $429 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($60k) 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.
• Current owner paid $21k; list at $62k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,140 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 2.24% ✓
• Cap rate: 16.74%
• Cash-on-cash: 37.32%
• DSCR: 2.66
• GRM: 3.7

CMA / ARV

• ARV (median comp): $111,449
• List price: $62,000
• Delta: -44.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5279 Cadieux Rd	0.21mi	3/2.0	1,161 (-1%)	0mo	$68,000	$59	85
5330 Hereford St	0.20mi	3/1.0	1,204 (+3%)	3mo	$103,000	$86	84
5762 Oldtown St	0.19mi	3/1.5	1,240 (+6%)	2mo	$138,000	$111	78
6230 Oldtown St	0.47mi	3/1.0	1,149 (-2%)	2mo	$76,000	$66	74
6003 Oldtown St	0.33mi	3/1.0	1,100 (-6%)	3mo	$119,000	$108	72
5210 Farmbrook St	0.45mi	2/1.0 (-1)	1,188 (+2%)	3mo	$85,000	$72	69
6304 Bluehill St	0.47mi	3/1.0	1,088 (-7%)	3mo	$99,000	$91	64
5057 University Pl	0.33mi	3/1.0	1,301 (+11%)	3mo	$110,000	$85	63
4503 Bishop St	0.60mi	3/1.5	1,215 (+4%)	3mo	$158,000	$130	61
9369 Sanilac St	0.75mi	3/1.0	1,124 (-4%)	1mo	$65,000	$58	58
5220 University Pl	0.31mi	2/1.0 (-1)	1,001 (-14%)	0mo	$40,000	$40	56
18904 Mallina St	0.73mi	3/1.0	1,107 (-5%)	2mo	$85,575	$77	55

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: 30.4%
• Equity multiple: 2.23×
• Total profit: $21,331
• Equity at exit: $9,244

10-year hold

• IRR: 36.2%
• Equity multiple: 3.94×
• Total profit: $51,079
• Equity at exit: $5,361

Cash invested: $17,360 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,391 high
• Mortgage (P&I): −$325
• Tax from tax record: −$208 /mo · $2,497/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $540

Break-even live

Break-even rent $708

Max offer price $62,000

Occupancy floor 56%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.21mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	17d	1	0.28mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	44d	1	0.40mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.43mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.46mi
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	24d	1	0.46mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.48mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	0.48mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	0.49mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.50mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.51mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.59mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	0.62mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	0.62mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	0.75mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	0.81mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.85mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	2d	1	0.85mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	4d	1	0.85mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.85mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	0.85mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.87mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	0.87mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	2d	1	0.87mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.89mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	3d	1	0.89mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	18d	1	0.89mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	3d	1	0.90mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	17d	1	0.90mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	2d	1	0.90mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.90mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.93mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.93mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.95mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.95mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	24d	1	0.96mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.96mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.97mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	0.98mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	1.00mi

Listing history 17 events

1. 2026-06-18
   days on market $62,000 Active 47 DOM
2. 2026-06-17
   days on market $62,000 Active 46 DOM
3. 2026-06-15
   days on market $62,000 Active 44 DOM
4. 2026-06-13
   days on market $62,000 Active 42 DOM
5. 2026-06-13
   days on market $62,000 Active 41 DOM
6. 2026-06-09
   days on market $62,000 Active 38 DOM
7. 2026-06-08
   days on market $62,000 Active 37 DOM
8. 2026-06-07
   days on market $62,000 Active 36 DOM
9. 2026-06-04
   days on market $62,000 Active 33 DOM
10. 2026-06-03
    days on market $62,000 Active 32 DOM
11. 2026-06-02
    days on market $62,000 Active 31 DOM
12. 2026-06-01
    days on market $62,000 Active 30 DOM
13. 2026-05-31
    days on market $62,000 Active 29 DOM
14. 2026-05-02
    listed $62,000 Active 1174-char remark

    Show marketing remark (986 chars)

    This all-brick property presents a strong opportunity for a savvy investor or handyman looking for their next rehab project. Featuring three bedrooms, one full bathroom, and one half bath, this home offers a functional layout ready for renovation. Built in 1928, the property retains classic character and includes a full basement and a spacious yard, providing additional flexibility for improvements and long-term use. The home is being sold as-is and will require a full rehab due to smoke damage, making it ideal for investors seeking a project with clear value-add potential. Whether your strategy is to renovate and resell or hold as a rental, this property offers a solid foundation to execute your vision. The large yard and brick construction add to its appeal, while the existing layout supports a straightforward renovation plan. Located in an established neighborhood, the property is surrounded by similar homes and ongoing investment activity, supporting long-term upside.

15. 2026-05-02
    listed $62,000 Active 1172-char remark

    Show marketing remark (986 chars)

    This all-brick property presents a strong opportunity for a savvy investor or handyman looking for their next rehab project. Featuring three bedrooms, one full bathroom, and one half bath, this home offers a functional layout ready for renovation. Built in 1928, the property retains classic character and includes a full basement and a spacious yard, providing additional flexibility for improvements and long-term use. The home is being sold as-is and will require a full rehab due to smoke damage, making it ideal for investors seeking a project with clear value-add potential. Whether your strategy is to renovate and resell or hold as a rental, this property offers a solid foundation to execute your vision. The large yard and brick construction add to its appeal, while the existing layout supports a straightforward renovation plan. Located in an established neighborhood, the property is surrounded by similar homes and ongoing investment activity, supporting long-term upside.

16. 2026-05-02
    listed $62,000 Active

    Show marketing remark (986 chars)

    This all-brick property presents a strong opportunity for a savvy investor or handyman looking for their next rehab project. Featuring three bedrooms, one full bathroom, and one half bath, this home offers a functional layout ready for renovation. Built in 1928, the property retains classic character and includes a full basement and a spacious yard, providing additional flexibility for improvements and long-term use. The home is being sold as-is and will require a full rehab due to smoke damage, making it ideal for investors seeking a project with clear value-add potential. Whether your strategy is to renovate and resell or hold as a rental, this property offers a solid foundation to execute your vision. The large yard and brick construction add to its appeal, while the existing layout supports a straightforward renovation plan. Located in an established neighborhood, the property is surrounded by similar homes and ongoing investment activity, supporting long-term upside.

17. 1991-05-03
    soldstatus $21,000

ⓘ 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: $2,497 · $208/mo
• Projected year-2 tax: $2,497 · $208/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,692
• − Mortgage interest: −$3,473
• − Property taxes: −$2,497
• − Insurance: −$310
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$1,804
• Taxable income: $5,938
• Est. tax owed @ 24.0%: −$1,425
• After-tax cash flow: $5,053/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

+195.2% since first listed

4 events — show timeline

• 2026-05-02 Listed $62,000 MiRealSource-MiMLS
• 2026-05-02 Listed $62,000 REALCOMP
• 2026-05-02 Listed $62,000 SW Michigan MLS
• 1991-05-03 Sold (Public Records) $21,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,497 · +35.4% YoY. Source: county tax records.