17538 Matthews St · Riverview, MI 48193

$140,000

4 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 37 Days on market

Built 1942 4,792 sqft lot Est $190k · 26% 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.6/10.0
• Livability +4.2/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

Key facts

• Unfinished basement
• Fenced in back yard
• 4,792 sq ft lot

Tags

• FENCED IN BACK YARD
• UNFINISHED BASEMENT

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$190,080) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.4% in Riverview — 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 84/100 on livability (#32 in MI, #671 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A; Watch: schools C-.
• Riverview Community School District (suburban): math 28% / reading 45% proficiency, ranked #253 of 540 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y 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 $109k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1942 — 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. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $190,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18055 Hinton St	0.31mi	3/1.0 (-1)	1,036 (-4%)	3mo	$220,000	$212	71
18217 Hamann St	0.41mi	3/1.0 (-1)	1,036 (-4%)	1mo	$168,852	$163	68
18216 Wendy Ct	0.39mi	3/1.0 (-1)	1,036 (-4%)	4mo	$188,900	$182	66
11571 Grant St	0.57mi	3/1.0 (-1)	1,070 (-1%)	1mo	$155,000	$145	66
18031 Hamann St	0.31mi	3/1.0 (-1)	996 (-8%)	3mo	$175,200	$176	65
18530 Matthews St	0.52mi	3/1.0 (-1)	1,036 (-4%)	1mo	$180,000	$174	63
17788 Quarry St St	0.21mi	3/2.0 (-1)	1,180 (+9%)	5mo	$165,000	$140	62
18580 Marsha St	0.57mi	3/1.0 (-1)	1,036 (-4%)	1mo	$210,000	$203	61
4298 19th St	0.65mi	3/1.0 (-1)	1,050 (-3%)	1mo	$195,000	$186	59
11531 Grant St	0.61mi	3/1.0 (-1)	1,028 (-5%)	1mo	$150,000	$146	58
4436 15th St	0.75mi	3/1.0 (-1)	1,036 (-4%)	2mo	$158,000	$153	52
18616 Koester St	0.65mi	3/2.0 (-1)	988 (-8%)	4mo	$185,800	$188	43

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,626
• Equity at exit: $20,874

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $37,133
• Equity at exit: $12,105

Cash invested: $39,200 (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 48193

• Active inventory: 36
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,762 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $413

Break-even live

Break-even rent $1,240

Max offer price $140,000

Occupancy floor 72%

Sensitivity live

Price	-10% $492	-5% $452	+0% $413	+5% $373	+10% $333
Rent	-10% $273	-5% $343	+0% $413	+5% $482	+10% $552
Rate	-1.0pp $483	-0.5pp $448	base $413	+0.5pp $376	+1.0pp $339

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13185 Sycamore St Southgate, MI	3.0	1.0	1080	$1,700	$1.57	25d	1	1.32mi
1569 Sycamore St Wyandotte, MI	3.0	1.0	944	$1,695	$1.80	44d	1	1.42mi

Listing history 22 events

1. 2026-04-27
   status Pending 248-char remark

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

2. 2026-04-27
   status Pending 248-char remark

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

3. 2026-04-27
   status Pending

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

4. 2026-04-22
   status Active 248-char remark

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

5. 2026-04-22
   status Active 248-char remark

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

6. 2026-04-22
   status Active

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

7. 2026-04-17
   status Pending 248-char remark

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

8. 2026-04-17
   status Pending 248-char remark

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

9. 2026-04-17
   status Pending

   Show marketing remark (248 chars)

   TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

10. 2026-03-16
    listed $140,000 Active 248-char remark

    Show marketing remark (248 chars)

    TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

11. 2026-03-16
    listed $140,000 Active 248-char remark

    Show marketing remark (248 chars)

    TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

12. 2026-03-16
    listed $140,000 Active

    Show marketing remark (248 chars)

    TENANT OCCUPIED! 2 story home with 4 bedrooms and 1 bath. Carpet in all the rooms. Fenced in back yard. No garage. Unfinished basement. Photos from before tenant occupancy. Tenant since 2015, paying $1,327.41 - currently on a month to month status.

13. 2018-06-08
    soldstatus $109,000
14. 2015-06-18
    soldstatus $1,000
15. 2015-06-05
    historical
16. 2015-05-11
    listed $1,000
17. 2015-03-26
    soldstatus $50,000 Sold
18. 2015-03-26
    soldstatus $50,000
19. 2015-03-16
    historical
20. 2015-03-16
    historical
21. 2015-03-11
    listed $54,900 Active
22. 2015-03-10
    listed $54,900

ⓘ 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: $2,245 · $187/mo
• Projected year-2 tax: $2,245 · $187/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,147
• − Mortgage interest: −$7,842
• − Property taxes: −$2,245
• − Insurance: −$700
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$4,073
• Taxable income: $2,904
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $4,254/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: Riverview Community School District
• NCES district ID: 2629910
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $51,029
• Composite: 31.63/100
• National rank: #5935
• State rank: #253 of 540 in MI

Livability — Riverview

• Score: 84/100
• State rank: #32
• US rank: #671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverview, MI
• County: Wayne County · 1,562,939 people
• City population: 16,119
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 16,119
• Household income: $74,566
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 591.0

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 White (73%)
• Race & ethnicity: White 73% Black 9% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 12% Lithuanian 5% Italian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Arabic 2% 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: ▼ -127.37%
• Current HPI: 212.8017
• Rent YoY: —
• 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

+155.0% since first listed

22 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — SW Michigan MLS
• 2026-04-22 Relisted — REALCOMP
• 2026-04-22 Relisted — MiRealSource-MiMLS
• 2026-04-22 Relisted — SW Michigan MLS
• 2026-04-17 Pending — MiRealSource-MiMLS
• 2026-04-17 Pending — REALCOMP
• 2026-04-17 Pending — SW Michigan MLS
• 2026-03-16 Listed $140,000 REALCOMP
• 2026-03-16 Listed $140,000 SW Michigan MLS
• 2026-03-16 Listed $140,000 MiRealSource-MiMLS
• 2018-06-08 Sold (Public Records) $109,000 Public Records
• 2015-06-18 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2015-06-05 Listing Removed — MiRealSource-MiMLS
• 2015-05-11 Listed $1,000 MiRealSource-MiMLS
• 2015-03-26 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2015-03-26 Sold (MLS) $50,000 REALCOMP
• 2015-03-16 Listing Removed — REALCOMP
• 2015-03-16 Listing Removed — MiRealSource-MiMLS
• 2015-03-11 Listed $54,900 REALCOMP
• 2015-03-10 Listed $54,900 MiRealSource-MiMLS

Property tax history

+1.7%/yr

Latest (2025): $2,245 · -35.8% YoY. Source: county tax records.