5594 Greenway St · Detroit, MI 48204

$90,000

3 bd · 1.0 ba · 1,482 sqft · SingleFamily public records · 133 Days on market

Built 1922 6,098 sqft lot $61/sqft · 92% above area

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Beautifully updated property offering modern finishes and move-in-ready appeal. Recent improvements enhance both functionality and style, making this home a great option for homeowners or investors alike. Features include refreshed interiors, and a layout designed for comfortable living. Conveniently located near major roads, schools, and local amenities. Schedule your showing today and bring your best offer - this one won't last.

Key facts

• Updated property
• Modern finishes
• Refreshed interiors

Tags

• UPDATED PROPERTY
• MODERN FINISHES
• REFRESHED INTERIORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

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: 248 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 43% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $90k implies a 2258% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — 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. 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: 1.36% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.45%
• DSCR: 1.82
• GRM: 6.1

CMA / ARV

• ARV (median comp): $42,955
• List price: $90,000
• Delta: 109.52%
• 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
5640 Underwood Ave	0.08mi	3/1.0	1,450 (-2%)	2mo	$65,000	$45	91
9539 Beechwood St St	0.25mi	3/1.0	1,440 (-3%)	2mo	$36,000	$25	82
5125 Whitfield St	0.19mi	4/2.0 (+1)	1,530 (+3%)	2mo	$136,800	$89	75
9414 American St	0.41mi	2/1.0 (-1)	1,476 (-0%)	8mo	$17,000	$12	68
5535 Vancouver St	0.63mi	3/1.0	1,440 (-3%)	3mo	$110,000	$76	64
10163 Monica St	0.73mi	3/1.0	1,486 (+0%)	8mo	$46,000	$31	59
5260 Spokane St	0.58mi	2/1.0 (-1)	1,438 (-3%)	7mo	$12,250	$9	58
5250 Vancouver St	0.68mi	4/2.0 (+1)	1,450 (-2%)	1mo	$151,000	$104	54
5357 Spokane Ave	0.55mi	3/1.5	1,288 (-13%)	6mo	$47,997	$37	46
5297 Vancouver St	0.68mi	4/1.5 (+1)	1,363 (-8%)	4mo	$60,000	$44	44
5327 Vancouver St	0.67mi	3/1.0	1,274 (-14%)	5mo	$40,000	$31	41
8127 American St	0.67mi	4/1.0 (+1)	1,317 (-11%)	8mo	$29,000	$22	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 3.92×
• Total profit: $73,691
• Equity at exit: $81,079

10-year hold

• IRR: 32.7%
• Equity multiple: 8.84×
• Total profit: $197,584
• Equity at exit: $174,850

Cash invested: $25,200 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,225 high
• Mortgage (P&I): −$472
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $388

Break-even live

Break-even rent $735

Max offer price $90,000

Occupancy floor 63%

Sensitivity live

Price	-10% $438	-5% $413	+0% $388	+5% $362	+10% $337
Rent	-10% $291	-5% $339	+0% $388	+5% $436	+10% $484
Rate	-1.0pp $433	-0.5pp $410	base $388	+0.5pp $364	+1.0pp $340

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$995	$1.11	0d	1	0.18mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	0.67mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	18d	1	0.72mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	26d	1	0.76mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	45d	1	0.78mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	25d	1	0.79mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	22d	1	0.86mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	18d	1	0.94mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	26d	1	0.95mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	26d	1	0.95mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	6d	1	1.01mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	1.02mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,278	$1.42	0d	1	1.03mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	23d	1	1.04mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	0d	1	1.05mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	26d	1	1.06mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	45d	1	1.07mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	26d	1	1.08mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	18d	1	1.11mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	26d	1	1.12mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	18d	1	1.24mi
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	5d	1	1.24mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	45d	1	1.27mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	45d	1	1.30mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	45d	1	1.31mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	18d	1	1.31mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	45d	1	1.34mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	1.37mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	45d	1	1.38mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	26d	1	1.38mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	23d	1	1.40mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	45d	1	1.41mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	14d	1	1.42mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	45d	1	1.42mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	45d	1	1.45mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	45d	1	1.45mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	18d	1	1.45mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	45d	1	1.47mi

Listing history 26 events

1. 2026-06-21
   days on market $90,000 Active 133 DOM
2. 2026-06-18
   days on market $90,000 Active 130 DOM
3. 2026-06-17
   days on market $90,000 Active 129 DOM
4. 2026-06-15
   days on market $90,000 Active 127 DOM
5. 2026-06-13
   days on market $90,000 Active 125 DOM
6. 2026-06-13
   days on market $90,000 Active 124 DOM
7. 2026-06-09
   days on market $90,000 Active 121 DOM
8. 2026-06-08
   days on market $90,000 Active 120 DOM
9. 2026-06-07
   days on market $90,000 Active 119 DOM
10. 2026-06-04
    days on market $90,000 Active 116 DOM
11. 2026-06-03
    days on market $90,000 Active 115 DOM
12. 2026-06-01
    days on market $90,000 Active 113 DOM
13. 2026-05-31
    days on market $90,000 Active 112 DOM
14. 2026-04-24
    price $90,000 434-char remark

    Show marketing remark (444 chars)

    Beautifully updated property offering modern finishes and move-in-ready appeal. Recent improvements enhance both functionality and style, making this home a great option for homeowners or investors alike. Features include refreshed interiors, and a layout designed for comfortable living. Conveniently located near major roads, schools, and local amenities. Schedule your showing today and bring your best offer—this one won’t last.

15. 2026-04-24
    price $90,000 444-char remark

    Show marketing remark (444 chars)

    Beautifully updated property offering modern finishes and move-in-ready appeal. Recent improvements enhance both functionality and style, making this home a great option for homeowners or investors alike. Features include refreshed interiors, and a layout designed for comfortable living. Conveniently located near major roads, schools, and local amenities. Schedule your showing today and bring your best offer—this one won’t last.

16. 2026-02-09
    listed $120,000 Active 444-char remark

    Show marketing remark (444 chars)

    Beautifully updated property offering modern finishes and move-in-ready appeal. Recent improvements enhance both functionality and style, making this home a great option for homeowners or investors alike. Features include refreshed interiors, and a layout designed for comfortable living. Conveniently located near major roads, schools, and local amenities. Schedule your showing today and bring your best offer—this one won’t last.

17. 2026-02-08
    listed $120,000 Active 434-char remark

    Show marketing remark (434 chars)

    Beautifully updated property offering modern finishes and move-in-ready appeal. Recent improvements enhance both functionality and style, making this home a great option for homeowners or investors alike. Features include refreshed interiors, and a layout designed for comfortable living. Conveniently located near major roads, schools, and local amenities. Schedule your showing today and bring your best offer - this one won't last.

18. 2010-09-09
    soldstatus $3,817
19. 2010-06-11
    listed $3,000
20. 2007-09-03
    historical
21. 2007-03-03
    listed $89,000
22. 2006-12-26
    historical
23. 2006-09-06
    listed $95,000
24. 2000-03-30
    soldstatus $69,000
25. 2000-03-10
    soldstatus $69,000
26. 2000-01-12
    listed $70,000

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$266/yr (+$22/mo · 31.2%)

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,706
• − Mortgage interest: −$5,041
• − Property taxes: −$854
• − Insurance: −$450
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,618
• Taxable income: $3,390
• Est. tax owed @ 24.0%: −$813
• After-tax cash flow: $3,837/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+28.6% since first listed

13 events — show timeline

• 2026-04-24 Price Changed $90,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $90,000 REALCOMP
• 2026-02-09 Listed $120,000 REALCOMP
• 2026-02-08 Listed $120,000 MiRealSource-MiMLS
• 2010-09-09 Sold (MLS) $3,817 REALCOMP
• 2010-06-11 Listed $3,000 REALCOMP
• 2007-09-03 Listing Removed — REALCOMP
• 2007-03-03 Listed $89,000 REALCOMP
• 2006-12-26 Listing Removed — REALCOMP
• 2006-09-06 Listed $95,000 REALCOMP
• 2000-03-30 Sold (Public Records) $69,000 Public Records
• 2000-03-10 Sold (MLS) $69,000 REALCOMP
• 2000-01-12 Listed $70,000 REALCOMP

Property tax history

-1.1%/yr

Latest (2025): $854 · -53.5% YoY. Source: county tax records.