5154 Hereford St · Detroit, MI 48224

$87,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 101 Days on market

Built 1940 8,276 sqft lot $91/sqft · 24% above area Est $70k · 24% 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
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 3-bedroom, 1-bath home located in an attractive neighborhood of Detroit. The property features 2-car garage, frame construction, and crawlspace foundation. Currently tenant-occupied with rental income of $1,000/month. Tenant in place -- please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $79k (9.0% 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: Rents flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 36% 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 $601 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 29y 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 $67k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,170 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1940 — 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: 1.56% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.41%
• DSCR: 1.91
• GRM: 5.4

CMA / ARV

• ARV (median comp): $69,884
• List price: $87,000
• Delta: 24.49%
• 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
5220 University Pl	0.09mi	2/1.0 (-1)	1,001 (+4%)	0mo	$40,000	$40	84
5981 University Pl	0.47mi	3/1.0	964 (+0%)	3mo	$64,000	$66	75
6106 Oldtown St	0.60mi	3/1.5	961 (+0%)	1mo	$132,000	$137	69
6135 Marseilles St	0.55mi	3/1.0	988 (+3%)	0mo	$55,000	$56	69
5271 Marseilles St	0.13mi	3/1.0	1,100 (+15%)	5mo	$75,000	$68	65
6156 Lodewyck St	0.60mi	3/1.0	900 (-6%)	1mo	$51,000	$57	61
4356 Harvard Rd	0.60mi	3/2.0	921 (-4%)	1mo	$150,000	$163	60
6003 Oldtown St	0.58mi	3/1.0	1,100 (+15%)	3mo	$119,000	$108	46
4104 Woodhall St	0.63mi	3/1.0	1,090 (+14%)	3mo	$29,900	$27	46
6301 Lodewyck St	0.66mi	3/1.0	1,084 (+13%)	4mo	$70,000	$65	44
6304 Bluehill St	0.68mi	3/1.0	1,088 (+13%)	3mo	$99,000	$91	43
5007 Ashley St	0.59mi	2/1.0 (-1)	817 (-15%)	2mo	$30,000	$37	41

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: 10.0%
• Equity multiple: 1.38×
• Total profit: $9,317
• Equity at exit: $12,972

10-year hold

• IRR: 17.1%
• Equity multiple: 2.25×
• Total profit: $30,451
• Equity at exit: $7,522

Cash invested: $24,360 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$456
• Tax from tax record: −$163 /mo · $1,952/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $414

Break-even live

Break-even rent $829

Max offer price $87,000

Occupancy floor 64%

Sensitivity live

Price	-10% $464	-5% $439	+0% $414	+5% $390	+10% $365
Rent	-10% $307	-5% $361	+0% $414	+5% $468	+10% $521
Rate	-1.0pp $458	-0.5pp $436	base $414	+0.5pp $392	+1.0pp $369

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.37mi
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	25d	1	0.43mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	44d	1	0.44mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	44d	1	0.45mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	25d	1	0.46mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	22d	1	0.46mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	44d	1	0.46mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	0.51mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.60mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.61mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.67mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.68mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.70mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	0.74mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	0.74mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	0.74mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	18d	1	0.75mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	3d	1	0.75mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	18d	1	0.75mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	3d	1	0.75mi
890 Neff Rd Grosse Pointe, MI	2.0	1.0	1100	$2,000	$1.82	25d	1	0.90mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	25d	1	0.95mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.01mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	1.02mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	1.04mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	25d	1	1.05mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	1.07mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	1.09mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.11mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.11mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.14mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.14mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.17mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.19mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.27mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	1.28mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.31mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.34mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	1.44mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	1.50mi

Listing history 32 events

1. 2026-06-18
   days on market $87,000 Active 101 DOM
2. 2026-06-17
   days on market $87,000 Active 100 DOM
3. 2026-06-15
   days on market $87,000 Active 98 DOM
4. 2026-06-13
   days on market $87,000 Active 96 DOM
5. 2026-06-13
   days on market $87,000 Active 95 DOM
6. 2026-06-09
   days on market $87,000 Active 92 DOM
7. 2026-06-08
   days on market $87,000 Active 91 DOM
8. 2026-06-07
   days on market $87,000 Active 90 DOM
9. 2026-06-04
   days on market $87,000 Active 87 DOM
10. 2026-06-03
    days on market $87,000 Active 86 DOM
11. 2026-06-01
    days on market $87,000 Active 84 DOM
12. 2026-05-31
    days on market $87,000 Active 83 DOM
13. 2026-03-09
    listed $87,000 Active 353-char remark

    Show marketing remark (352 chars)

    Well-maintained 3-bedroom, 1-bath home located in an attractive neighborhood of Detroit. The property features 2-car garage, frame construction, and crawlspace foundation. Currently tenant-occupied with rental income of $1,000/month. Tenant in place -- please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

14. 2026-03-09
    listed $87,000 Active 352-char remark

    Show marketing remark (352 chars)

    Well-maintained 3-bedroom, 1-bath home located in an attractive neighborhood of Detroit. The property features 2-car garage, frame construction, and crawlspace foundation. Currently tenant-occupied with rental income of $1,000/month. Tenant in place -- please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

15. 2026-03-09
    listed $87,000 Active

    Show marketing remark (352 chars)

    Well-maintained 3-bedroom, 1-bath home located in an attractive neighborhood of Detroit. The property features 2-car garage, frame construction, and crawlspace foundation. Currently tenant-occupied with rental income of $1,000/month. Tenant in place -- please do not disturb. Showings and inspections will be scheduled only upon accepted offer. BATVAI.

16. 2024-01-01
    historical
17. 2024-01-01
    historical
18. 2023-12-22
    listed $80,000 Active
19. 2023-12-21
    listed $80,000 Active
20. 2021-09-21
    soldstatus $67,000
21. 2014-08-31
    historical
22. 2013-08-20
    listed $330,000
23. 2005-03-23
    soldstatus $55,000
24. 2005-01-02
    historical
25. 2004-12-14
    soldstatus $55,000
26. 2004-11-19
    historical
27. 2004-10-20
    listed $64,900
28. 2004-09-08
    listed $64,900
29. 1998-03-17
    soldstatus $36,000
30. 1998-02-11
    soldstatus $36,000
31. 1997-11-07
    historical
32. 1997-08-13
    listed $38,000

ⓘ 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: $1,952 · $163/mo
• Projected year-2 tax: $1,952 · $163/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,244
• − Mortgage interest: −$4,873
• − Property taxes: −$1,952
• − Insurance: −$435
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$2,531
• Taxable income: $3,854
• Est. tax owed @ 24.0%: −$925
• After-tax cash flow: $4,046/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

+128.9% since first listed

20 events — show timeline

• 2026-03-09 Listed $87,000 REALCOMP
• 2026-03-09 Listed $87,000 SW Michigan MLS
• 2026-03-09 Listed $87,000 MiRealSource-MiMLS
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-12-22 Listed $80,000 REALCOMP
• 2023-12-21 Listed $80,000 MiRealSource-MiMLS
• 2021-09-21 Sold (Public Records) $67,000 Public Records
• 2014-08-31 Listing Removed — MiRealSource-MiMLS
• 2013-08-20 Listed $330,000 MiRealSource-MiMLS
• 2005-03-23 Sold (Public Records) $55,000 Public Records
• 2005-01-02 Listing Removed — REALCOMP
• 2004-12-14 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2004-11-19 Listing Removed — MiRealSource-MiMLS
• 2004-10-20 Listed $64,900 REALCOMP
• 2004-09-08 Listed $64,900 MiRealSource-MiMLS
• 1998-03-17 Sold (Public Records) $36,000 Public Records
• 1998-02-11 Sold (MLS) $36,000 MiRealSource-MiMLS
• 1997-11-07 Listing Removed — MiRealSource-MiMLS
• 1997-08-13 Listed $38,000 MiRealSource-MiMLS

Property tax history

+1.7%/yr

Latest (2025): $1,952 · -10.0% YoY. Source: county tax records.