4507 Oregon St · Detroit, MI 48204

$170,000

6 bd · 1.5 ba · 1,936 sqft · SingleFamily public records · 22 Days on market

Built 1915 3,920 sqft lot Est $174k · at est.

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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 +23.2/30.0
• Appreciation +10.0/10.0
• ARV discount +8.6/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• 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

SPACIOUS FULLY RENOVATED HOME NEAR SOUTHWEST, Hablamos Espanol!! This beautifully renovated 6-bedroom, 3-bathroom home offers ample space across three levels, with a bathroom on each floor. Featuring a finished basement with a complete apartment, including a full kitchen, this home is perfect for extended family or rental potential. Enjoy a large living room, formal living room, and updated features throughout. Don't miss out on this incredible opportunity!

Key facts

• 3,920 sq ft lot
• Built 1915
• Listed 22 days

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% 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: 244 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $1,876/mo this rent would consume 65% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 7 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 $57k; list at $170k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $174,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4609 Vancouver St	0.12mi	6/2.0	2,214 (+14%)	20mo	$200,000	$90	52

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: 29.9%
• Equity multiple: 3.36×
• Total profit: $112,158
• Equity at exit: $153,149

10-year hold

• IRR: 25.9%
• Equity multiple: 7.62×
• Total profit: $314,975
• Equity at exit: $330,273

Cash invested: $47,600 (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: 244
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,876 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $307

Break-even live

Break-even rent $1,487

Max offer price $170,000

Occupancy floor 79%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4114 W Euclid St Detroit, MI	6.0	2.0	1500	$1,800	$1.20	44d	1	0.32mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	0.44mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	1.25mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	1.43mi

Listing history 17 events

1. 2026-04-25
   status Pending 461-char remark

   Show marketing remark (461 chars)

   SPACIOUS FULLY RENOVATED HOME NEAR SOUTHWEST, Hablamos Espanol!! This beautifully renovated 6-bedroom, 3-bathroom home offers ample space across three levels, with a bathroom on each floor. Featuring a finished basement with a complete apartment, including a full kitchen, this home is perfect for extended family or rental potential. Enjoy a large living room, formal living room, and updated features throughout. Don't miss out on this incredible opportunity!

2. 2026-04-25
   status Pending

   Show marketing remark (461 chars)

   SPACIOUS FULLY RENOVATED HOME NEAR SOUTHWEST, Hablamos Espanol!! This beautifully renovated 6-bedroom, 3-bathroom home offers ample space across three levels, with a bathroom on each floor. Featuring a finished basement with a complete apartment, including a full kitchen, this home is perfect for extended family or rental potential. Enjoy a large living room, formal living room, and updated features throughout. Don't miss out on this incredible opportunity!

3. 2026-04-03
   listed $170,000 Active 461-char remark

   Show marketing remark (461 chars)

   SPACIOUS FULLY RENOVATED HOME NEAR SOUTHWEST, Hablamos Espanol!! This beautifully renovated 6-bedroom, 3-bathroom home offers ample space across three levels, with a bathroom on each floor. Featuring a finished basement with a complete apartment, including a full kitchen, this home is perfect for extended family or rental potential. Enjoy a large living room, formal living room, and updated features throughout. Don't miss out on this incredible opportunity!

4. 2026-04-03
   listed $170,000 Active

   Show marketing remark (461 chars)

   SPACIOUS FULLY RENOVATED HOME NEAR SOUTHWEST, Hablamos Espanol!! This beautifully renovated 6-bedroom, 3-bathroom home offers ample space across three levels, with a bathroom on each floor. Featuring a finished basement with a complete apartment, including a full kitchen, this home is perfect for extended family or rental potential. Enjoy a large living room, formal living room, and updated features throughout. Don't miss out on this incredible opportunity!

5. 2026-04-01
   historical $170,000 461-char remark

   Show marketing remark (461 chars)

   SPACIOUS FULLY RENOVATED HOME NEAR SOUTHWEST, Hablamos Espanol!! This beautifully renovated 6-bedroom, 3-bathroom home offers ample space across three levels, with a bathroom on each floor. Featuring a finished basement with a complete apartment, including a full kitchen, this home is perfect for extended family or rental potential. Enjoy a large living room, formal living room, and updated features throughout. Don't miss out on this incredible opportunity!

6. 2025-06-19
   status Active
7. 2025-06-16
   status Active
8. 2025-05-21
   historical
9. 2025-05-20
   status Pending
10. 2025-03-31
    price $199,000
11. 2025-03-31
    price $199,000
12. 2025-03-19
    historical
13. 2025-03-19
    listed $159,000 Active
14. 2025-03-19
    historical
15. 2025-03-15
    listed $159,000 Active
16. 2025-03-15
    listed $159,000 Active
17. 2006-12-08
    soldstatus $57,484

ⓘ 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 ≥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: $22,507
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$4,945
• Taxable income: $1,037
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $3,433/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

+195.7% since first listed

17 events — show timeline

• 2026-04-25 Pending — MiRealSource-MiMLS
• 2026-04-25 Pending — REALCOMP
• 2026-04-03 Listed $170,000 MiRealSource-MiMLS
• 2026-04-03 Listed $170,000 REALCOMP
• 2026-04-01 Coming Soon $170,000 MiRealSource-MiMLS
• 2025-06-19 Relisted — REALCOMP
• 2025-06-16 Relisted — REALCOMP
• 2025-05-21 Listing Removed — REALCOMP
• 2025-05-20 Pending — REALCOMP
• 2025-03-31 Price Changed $199,000 MiRealSource-MiMLS
• 2025-03-31 Price Changed $199,000 REALCOMP
• 2025-03-19 Listing Removed — REALCOMP
• 2025-03-19 Listing Removed — MiRealSource-MiMLS
• 2025-03-19 Listed $159,000 REALCOMP
• 2025-03-15 Listed $159,000 REALCOMP
• 2025-03-15 Listed $159,000 MiRealSource-MiMLS
• 2006-12-08 Sold (Public Records) $57,484 Public Records

Property tax history

-0.2%/yr

Latest (2025): $284 · +2.5% YoY. Source: county tax records.