5601 Marlborough St · Detroit, MI 48224

$56,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 92 Days on market

Built 1924 4,356 sqft lot $45/sqft · 19% above area Est $51k · 10% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• ARV discount +2.8/15.0
• 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

Brick, colonial features, three large bedrooms, large living room, dining room, kitchen. Home needs a lot of TLC but has newer privacy fence, newer furnace and hot water heater, updated sewer pipe and wiring. Great for our first time homebuyers or even better for Investors! Two huge lots adjacent to the house are included in the sale address 5589 Marlborough and 5595 Marlborough.

Key facts

• Two huge lots
• Newer furnace
• Updated wiring

Tags

• NEWER PRIVACY FENCE
• NEWER FURNACE
• HOT WATER HEATER
• UPDATED SEWER PIPE
• UPDATED WIRING
• TWO HUGE LOTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $51k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.1% 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 $387 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 15 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 $40k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,960 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.46% ✓
• Cap rate: 20.14%
• Cash-on-cash: 49.45%
• DSCR: 3.20
• GRM: 3.4

CMA / ARV

• ARV (median comp): $50,754
• List price: $56,000
• Delta: 10.34%
• 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
5557 Lakeview St	0.33mi	3/1.0	1,233 (-1%)	4mo	$40,000	$32	79
13113 Camden St	0.68mi	3/1.0	1,224 (-2%)	2mo	$88,000	$72	63
4810 Lakepointe St	0.60mi	4/1.0 (+1)	1,218 (-2%)	3mo	$200,000	$164	60
5566 LAKEPOINTE S S. Chandler Park St	0.38mi	3/1.5	1,108 (-11%)	3mo	$57,000	$51	59
4844 Manistique St	0.45mi	3/1.0	1,088 (-13%)	2mo	$19,900	$18	56
5050 Somerset Ave	0.66mi	3/1.0	1,356 (+9%)	1mo	$84,900	$63	54
9500 Lakepointe St	0.69mi	3/1.0	1,130 (-10%)	0mo	$125,000	$111	52
4871 Lakepointe St	0.55mi	3/1.5	1,100 (-12%)	2mo	$160,000	$145	51
4820 Lakepointe St	0.60mi	3/1.5	1,100 (-12%)	2mo	$160,000	$145	49
5777 Lakepointe St	0.37mi	4/2.5 (+1)	1,075 (-14%)	2mo	$174,999	$163	47
13136 Maiden St	0.73mi	4/1.0 (+1)	1,144 (-8%)	1mo	$10,000	$9	47
9509 Lakepointe St	0.69mi	3/1.0	1,112 (-11%)	4mo	$109,000	$98	46

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: 44.4%
• Equity multiple: 2.85×
• Total profit: $29,056
• Equity at exit: $8,350

10-year hold

• IRR: 49.3%
• Equity multiple: 5.24×
• Total profit: $66,459
• Equity at exit: $4,842

Cash invested: $15,680 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,376 high
• Mortgage (P&I): −$294
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $646

Break-even live

Break-even rent $558

Max offer price $56,000

Occupancy floor 48%

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.32mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.39mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	0.51mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.53mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.57mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.63mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.72mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	0.72mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	0.75mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.79mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.79mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	0.81mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.83mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.84mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	0.84mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.87mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.87mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.87mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.88mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.88mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.88mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	0.89mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.91mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	17d	1	0.94mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	2d	1	1.01mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.04mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.05mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.05mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.11mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	1.11mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	1.21mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.26mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	1.27mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	1.28mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.30mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	44d	1	1.31mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.33mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	1.34mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	1.37mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.37mi

Listing history 50 events

1. 2026-06-18
   days on market $56,000 Active 92 DOM
2. 2026-06-17
   days on market $56,000 Active 91 DOM
3. 2026-06-15
   days on market $56,000 Active 89 DOM
4. 2026-06-13
   days on market $56,000 Active 87 DOM
5. 2026-06-13
   days on market $56,000 Active 86 DOM
6. 2026-06-09
   days on market $56,000 Active 83 DOM
7. 2026-06-08
   days on market $56,000 Active 82 DOM
8. 2026-06-07
   days on market $56,000 Active 81 DOM
9. 2026-06-04
   days on market $56,000 Active 78 DOM
10. 2026-06-03
    days on market $56,000 Active 77 DOM
11. 2026-06-01
    days on market $56,000 Active 75 DOM
12. 2026-05-31
    days on market $56,000 Active 74 DOM
13. 2026-03-18
    listed $56,000 Active 382-char remark

    Show marketing remark (382 chars)

    Brick, colonial features, three large bedrooms, large living room, dining room, kitchen. Home needs a lot of TLC but has newer privacy fence, newer furnace and hot water heater, updated sewer pipe and wiring. Great for our first time homebuyers or even better for Investors! Two huge lots adjacent to the house are included in the sale address 5589 Marlborough and 5595 Marlborough.

14. 2026-03-18
    listed $56,000 Active 382-char remark

    Show marketing remark (382 chars)

    Brick, colonial features, three large bedrooms, large living room, dining room, kitchen. Home needs a lot of TLC but has newer privacy fence, newer furnace and hot water heater, updated sewer pipe and wiring. Great for our first time homebuyers or even better for Investors! Two huge lots adjacent to the house are included in the sale address 5589 Marlborough and 5595 Marlborough.

15. 2025-10-31
    historical
16. 2025-10-31
    historical
17. 2025-08-12
    listed $65,000 Active
18. 2025-08-12
    listed $65,000 Active
19. 2024-01-17
    soldstatus $40,000 Sold
20. 2024-01-17
    soldstatus $40,000 Closed
21. 2024-01-16
    status Pending
22. 2024-01-16
    status Pending
23. 2024-01-04
    status Active
24. 2024-01-04
    status Active
25. 2023-12-29
    historical Accepting Backup Offers
26. 2023-12-29
    historical Accepting Backup Offers
27. 2023-12-12
    listed $49,900 Active
28. 2023-12-12
    listed $49,900 Active
29. 2023-12-11
    historical
30. 2023-12-10
    historical
31. 2023-10-27
    price $49,900
32. 2023-10-27
    price $49,900
33. 2023-09-27
    price $81,000
34. 2023-09-27
    price $81,000
35. 2023-08-12
    price $56,900
36. 2023-08-12
    price $56,900
37. 2023-07-10
    historical
38. 2023-07-10
    listed $59,900 Active
39. 2023-07-10
    listed $59,900 Active
40. 2023-07-10
    historical
41. 2023-07-08
    price $59,900
42. 2023-07-08
    price $59,900
43. 2023-06-29
    price $63,900
44. 2023-06-28
    price $63,900
45. 2023-06-12
    listed $73,900 Active
46. 2023-06-12
    listed $73,900 Active
47. 2023-06-07
    historical
48. 2023-06-07
    historical
49. 2023-05-14
    listed $81,900 Active
50. 2023-05-14
    listed $81,900 Active

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $1,486 · $124/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 ≥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: $16,511
• − Mortgage interest: −$3,137
• − Property taxes: −$1,486
• − Insurance: −$280
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$1,629
• Taxable income: $7,337
• Est. tax owed @ 24.0%: −$1,761
• After-tax cash flow: $5,992/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

+711.6% since first listed

41 events — show timeline

• 2026-03-18 Listed $56,000 REALCOMP
• 2026-03-18 Listed $56,000 MiRealSource-MiMLS
• 2025-10-31 Listing Removed — REALCOMP
• 2025-10-31 Listing Removed — MiRealSource-MiMLS
• 2025-08-12 Listed $65,000 REALCOMP
• 2025-08-12 Listed $65,000 MiRealSource-MiMLS
• 2024-01-17 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2024-01-17 Sold (MLS) $40,000 REALCOMP
• 2024-01-16 Pending — MiRealSource-MiMLS
• 2024-01-16 Pending — REALCOMP
• 2024-01-04 Relisted — MiRealSource-MiMLS
• 2024-01-04 Relisted — REALCOMP
• 2023-12-29 Contingent — MiRealSource-MiMLS
• 2023-12-29 Contingent — REALCOMP
• 2023-12-12 Listed $49,900 MiRealSource-MiMLS
• 2023-12-12 Listed $49,900 REALCOMP
• 2023-12-11 Listing Removed — MiRealSource-MiMLS
• 2023-12-10 Listing Removed — REALCOMP
• 2023-10-27 Price Changed $49,900 MiRealSource-MiMLS
• 2023-10-27 Price Changed $49,900 REALCOMP
• 2023-09-27 Price Changed $81,000 MiRealSource-MiMLS
• 2023-09-27 Price Changed $81,000 REALCOMP
• 2023-08-12 Price Changed $56,900 MiRealSource-MiMLS
• 2023-08-12 Price Changed $56,900 REALCOMP
• 2023-07-10 Listing Removed — MiRealSource-MiMLS
• 2023-07-10 Listed $59,900 MiRealSource-MiMLS
• 2023-07-10 Listed $59,900 REALCOMP
• 2023-07-10 Listing Removed — REALCOMP
• 2023-07-08 Price Changed $59,900 MiRealSource-MiMLS
• 2023-07-08 Price Changed $59,900 REALCOMP
• 2023-06-29 Price Changed $63,900 MiRealSource-MiMLS
• 2023-06-28 Price Changed $63,900 REALCOMP
• 2023-06-12 Listed $73,900 MiRealSource-MiMLS
• 2023-06-12 Listed $73,900 REALCOMP
• 2023-06-07 Listing Removed — MiRealSource-MiMLS
• 2023-06-07 Listing Removed — REALCOMP
• 2023-05-14 Listed $81,900 MiRealSource-MiMLS
• 2023-05-14 Listed $81,900 REALCOMP
• 2012-07-20 Sold (Public Records) $47,850 Public Records
• 2008-03-20 Sold (MLS) $4,100 REALCOMP
• 2007-10-03 Listed $6,900 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $1,486 · -47.4% YoY. Source: county tax records.