511 Wadsworth St · Monroe, MI 48161

$199,900

3 bd · 1.0 ba · 1,702 sqft · SingleFamily public records · 9 Days on market

Built 1903 6,098 sqft lot Est $177k · 13% over

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Why this score? — see what drove the F 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 +7.9/30.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.9/10.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 4 bedroom, colonial style home with detached garage. Walk to downtown Monroe. Investor special, rehab, fixer upper or tear down and build. SOLD AS_IS. Great rental or first time home for a handy owner. Price reflects condition. SUBJECT TO APPROVAL FROM MONROE COUNTY CIRCUIT COURT HEARING.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1903

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sanitary sewer
• Home design: Residential property; 2-story structure; Built in 1903; Below-grade finished area not reported
• Construction: Aluminum construction; Basement foundation; Year built 1903
• Exterior features: Aluminum exterior; Road frontage

Interior

• Kitchen: Main-level kitchen (14 x 15); Dishwasher; Microwave; Range/Oven; Refrigerator; Dining room on main level (9 x 14)
• Bedrooms: Main-level bedroom (10 x 14); Second-floor bedroom (14 x 15); Second-floor bedroom (approx. 14 wide); Second-floor bedroom (13 x 17)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 8 rooms; Basement present
• Laundry & utility: Basement provides laundry/utility space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (18.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (31.0% below list).
• Recommended offer: $138k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 4.0% in Monroe — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 152 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y ago; this cycle's ask is 186% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $90k; list at $200k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,911 (31.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1903 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.69% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.54%
• DSCR: 0.80
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $177,008
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 E 5th St	0.04mi	3/1.5	1,515 (-11%)	4mo	$125,000	$83	74
422 E 1st St	0.29mi	4/2.0 (+1)	1,728 (+2%)	2mo	$179,900	$104	73
412 Winchester St	0.49mi	3/2.0	1,757 (+3%)	3mo	$145,000	$83	66
515 E Elm St	0.60mi	3/1.5	1,651 (-3%)	6mo	$132,000	$80	59
329 W 7th St	0.58mi	4/2.0 (+1)	1,716 (+1%)	5mo	$205,000	$119	58
616 Hubble St	0.59mi	4/1.5 (+1)	1,629 (-4%)	0mo	$220,000	$135	58
312 Navarre St	0.19mi	4/2.0 (+1)	1,456 (-14%)	4mo	$189,900	$130	55
57 Navarre St	0.41mi	4/2.0 (+1)	1,556 (-9%)	6mo	$124,900	$80	52
220 W 7th St	0.50mi	4/2.0 (+1)	1,536 (-10%)	2mo	$128,000	$83	50
424 W 4th St	0.64mi	3/1.5	1,904 (+12%)	1mo	$190,000	$100	48
139 N Macomb St	0.64mi	4/1.5 (+1)	1,614 (-5%)	8mo	$182,000	$113	48
108 E Willow St	0.66mi	3/2.0	1,456 (-14%)	5mo	$158,000	$109	37

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: -24.0%
• Equity multiple: 0.18×
• Total profit: $-45,910
• Equity at exit: $29,806

10-year hold

• IRR: -19.2%
• Equity multiple: -0.03×
• Total profit: $-57,463
• Equity at exit: $17,284

Cash invested: $55,972 (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 48161

• Active inventory: 152
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$170 /mo · $2,036/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-212

Break-even live

Break-even rent $1,647

Max offer price $162,485

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-155	+0% $-212	+5% $-268	+10% $-325
Rent	-10% $-321	-5% $-266	+0% $-212	+5% $-157	+10% $-103
Rate	-1.0pp $-111	-0.5pp $-161	base $-212	+0.5pp $-264	+1.0pp $-316

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Harrison St Monroe, MI	3.0	2.0	1188	$1,600	$1.35	44d	1	0.39mi
765 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.20mi
767 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.20mi
75 Briarwood Trl Monroe, MI	3.0–4.0	2.0	1360	$1,199	$0.88	15d	1	1.37mi

Listing history 10 events

1. 2026-06-16
   status $199,900 Pending 9 DOM
2. 2026-06-15
   remarks 549-char remark
3. 2026-06-15
   days on market $199,900 Active 9 DOM
4. 2026-06-14
   days on market $199,900 Active 7 DOM
5. 2026-06-12
   days on market $199,900 Active 6 DOM
6. 2026-06-09
   days on market $199,900 Active 3 DOM
7. 2026-06-08
   days on market $199,900 Active 2 DOM
8. 2026-06-07
   statuslisting id $199,900 Active 1 DOM
9. 2026-06-05
   remarks 501-char remark
10. 2026-06-05
    listed $199,900 Coming Soon 1 DOM

ⓘ 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: $2,036 · $170/mo
• Projected year-2 tax: $2,557 · $213/mo
• Expected delta: +$521/yr (+$43/mo · 25.6%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,549
• − Mortgage interest: −$11,198
• − Property taxes: −$2,036
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$5,815
• Taxable loss: −$6,147
• Est. tax savings @ 24.0%: +$1,475
• After-tax cash flow: $-1,066/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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 26,304
• Household income: $67,414
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 733.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 10% Romanian 8% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.99%
• Current HPI: 126.2638
• Rent YoY: —
• Metro: Monroe, 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

+299.8% since first listed

15 events — show timeline

• 2026-06-04 Coming Soon $199,900 MiRealSource-MiMLS
• 2024-01-11 Sold (Public Records) $90,000 Public Records
• 2023-02-24 Sold (Public Records) $54,000 Public Records
• 2023-01-31 Sold (MLS) $54,000 MiRealSource-MiMLS
• 2023-01-31 Sold (MLS) $54,000 REALCOMP
• 2022-11-15 Listing Removed — MiRealSource-MiMLS
• 2022-11-15 Listed $70,000 MiRealSource-MiMLS
• 2022-11-15 Listing Removed — REALCOMP
• 2022-11-15 Listed $70,000 REALCOMP
• 2022-06-28 Listing Removed — REALCOMP
• 2022-03-17 Pending — MiRealSource-MiMLS
• 2022-03-17 Pending — REALCOMP
• 2022-03-17 Listing Removed — MiRealSource-MiMLS
• 2022-03-06 Listed $50,000 MiRealSource-MiMLS
• 2022-03-06 Listed $50,000 REALCOMP

Property tax history

+6.8%/yr

Latest (2025): $2,036 · -44.1% YoY. Source: county tax records.