332 Goodell St · River Rouge, MI 48218

$49,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 16 Days on market

Built 1924 3,049 sqft lot Est $78k · 37% under ↓ 8% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Discover the possibilities in this charming small ranch home, perfectly sized for easy living and primed for your vision. Nice-sized yard, easy one-floor living, and plenty of room to make it your own. This small ranch has solid bones and big upside, but with its simple layout and manageable size, it's a great candidate for a flip or rental. Perfect for investors looking for their next project!

Key facts

• 3,049 sq ft lot
• Built 1924
• Listed 16 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry; Wood siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 30 x 100 (0.07 acres)

Interior

• Bedrooms: 4 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Unfinished basement; Awning(s); Covered porch

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($903 rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 8.1% in River Rouge — 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 65/100 on livability (#454 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B+; Watch: health & safety D, schools F, crime F.
• River Rouge School District (suburban): math 3% / reading 12% proficiency, ranked #535 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($339 loan paydown + $5k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; flood insurance adds $56/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,265 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.84% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.50%
• DSCR: 1.91
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $77,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Abbott St	0.22mi	2/1.0	831 (-4%)	8mo	$72,000	$87	77
50 E Rockwood St	0.50mi	2/1.0	825 (-4%)	3mo	$50,000	$61	67
107 Pine St	0.30mi	2/1.0	800 (-7%)	9mo	$73,000	$91	66
21 E Rockwood St	0.51mi	2/1.5	864 (0%)	16mo	$95,000	$110	61
10 E Auburn Ave	0.49mi	2/1.0	942 (+9%)	4mo	$60,000	$64	59
251 Richter St	0.23mi	3/1.0 (+1)	974 (+13%)	5mo	$87,700	$90	59
42 E Henry St	0.56mi	3/1.0 (+1)	916 (+6%)	0mo	$115,000	$126	58
109 Pine St	0.29mi	3/1.5 (+1)	736 (-15%)	1mo	$95,000	$129	54
54 W Rockwood St	0.62mi	2/1.0	820 (-5%)	10mo	$25,000	$30	54
47 E Auburn St	0.43mi	3/1.0 (+1)	950 (+10%)	6mo	$35,000	$37	54
48 E James St	0.68mi	3/1.0 (+1)	784 (-9%)	10mo	$90,000	$115	39
98 E Anchor St	0.71mi	2/1.0	748 (-13%)	21mo	$18,000	$24	26

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: 35.9%
• Equity multiple: 3.79×
• Total profit: $38,212
• Equity at exit: $44,143

10-year hold

• IRR: 31.0%
• Equity multiple: 8.57×
• Total profit: $103,836
• Equity at exit: $95,196

Cash invested: $13,720 (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 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $903 high
• Mortgage (P&I): −$257
• Tax from tax record: −$201 /mo · $2,416/yr
• Insurance: −$20
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $179

Break-even live

Break-even rent $676

Max offer price $49,000

Occupancy floor 75%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Hill St Unit 2 River Rouge, MI	1.0	1.0	700	$800	$1.14	24d	1	0.26mi
97 Batavia St Unit 1 River Rouge, MI	2.0	1.0	900	$825	$0.92	24d	1	0.47mi
17 W James St Unit 17 W James Lower River Rouge, MI	2.0	1.0	900	$950	$1.06	14d	1	0.83mi
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	16d	1	1.05mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	43d	1	1.09mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	24d	1	1.09mi

Listing history 20 events

1. 2026-06-18
   days on market $49,000 Active 16 DOM
2. 2026-06-17
   days on market $49,000 Active 15 DOM
3. 2026-06-16
   days on market $49,000 Active 14 DOM
4. 2026-06-15
   days on market $49,000 Active 13 DOM
5. 2026-06-13
   days on market $49,000 Active 11 DOM
6. 2026-06-09
   days on market $49,000 Active 7 DOM
7. 2026-06-08
   days on market $49,000 Active 6 DOM
8. 2026-06-07
   days on market $49,000 Active 5 DOM
9. 2026-06-04
   days on market $49,000 Active 2 DOM
10. 2026-06-02
    pricedays on marketlisting id $49,000 Active 1 DOM
11. 2026-06-01
    days on market $69,000 Active 47 DOM
12. 2026-05-31
    days on market $69,000 Active 46 DOM
13. 2026-05-21
    status Active
14. 2026-05-21
    historical
15. 2026-04-15
    listed $69,000 Active

    Show marketing remark (397 chars)

    Discover the possibilities in this charming small ranch home, perfectly sized for easy living and primed for your vision. Nice-sized yard, easy one-floor living, and plenty of room to make it your own. This small ranch has solid bones and big upside, but with its simple layout and manageable size, it's a great candidate for a flip or rental. Perfect for investors looking for their next project!

16. 2026-04-15
    listed $69,000 Active 397-char remark

    Show marketing remark (397 chars)

    Discover the possibilities in this charming small ranch home, perfectly sized for easy living and primed for your vision. Nice-sized yard, easy one-floor living, and plenty of room to make it your own. This small ranch has solid bones and big upside, but with its simple layout and manageable size, it's a great candidate for a flip or rental. Perfect for investors looking for their next project!

17. 2026-04-15
    historical

    Show marketing remark (397 chars)

    Discover the possibilities in this charming small ranch home, perfectly sized for easy living and primed for your vision. Nice-sized yard, easy one-floor living, and plenty of room to make it your own. This small ranch has solid bones and big upside, but with its simple layout and manageable size, it's a great candidate for a flip or rental. Perfect for investors looking for their next project!

18. 2026-04-15
    historical

    Show marketing remark (397 chars)

    Discover the possibilities in this charming small ranch home, perfectly sized for easy living and primed for your vision. Nice-sized yard, easy one-floor living, and plenty of room to make it your own. This small ranch has solid bones and big upside, but with its simple layout and manageable size, it's a great candidate for a flip or rental. Perfect for investors looking for their next project!

19. 2025-11-17
    listed $75,000 Active
20. 2025-11-17
    listed $75,000 Active

ⓘ 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: $2,416 · $201/mo
• Projected year-2 tax: $2,416 · $201/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,832
• − Mortgage interest: −$2,745
• − Property taxes: −$2,416
• − Insurance: −$912
• − Repairs & maintenance: −$867
• − Management: −$867
• − Depreciation: −$1,425
• Taxable income: $1,601
• Est. tax owed @ 24.0%: −$384
• After-tax cash flow: $1,762/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: River Rouge School District
• NCES district ID: 2629760
• Math proficiency: 3% ▼ -7.00%
• Reading proficiency: 12% ▼ -4.00%
• Median HH income: $26,664
• Composite: 5.29/100
• National rank: #10033
• State rank: #535 of 540 in MI

Livability — River Rouge

• Score: 65/100
• State rank: #454
• US rank: #12700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Rouge, MI
• City population: 7,096
• Population (ZIP): 7,096

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 34% Two or more races 16% Hispanic / Latino 16%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Arabic 2% Other Indo-European 1%

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: ▲ 77.93%
• Current HPI: 352.3551
• Rent YoY: —
• Metro: —
• 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

-8.0% since first listed

8 events — show timeline

• 2026-05-21 Relisted — REALCOMP
• 2026-05-21 Listing Removed — REALCOMP
• 2026-04-15 Listed $69,000 REALCOMP
• 2026-04-15 Listing Removed — MiRealSource-MiMLS
• 2026-04-15 Listing Removed — REALCOMP
• 2026-04-15 Listed $69,000 MiRealSource-MiMLS
• 2025-11-17 Listed $75,000 REALCOMP
• 2025-11-17 Listed $75,000 MiRealSource-MiMLS

Property tax history

+4.8%/yr

Latest (2025): $2,416 · +23.6% YoY. Source: county tax records.