24162 Dartmouth St · Dearborn, MI 48124

$149,900

2 bd · 1.0 ba · 978 sqft · SingleFamily public records · 6 Days on market

Built 1949 5,663 sqft lot Est $151k · at est.

---

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 +18.8/30.0
• ARV discount +7.7/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, solid ranch on a corner lot with a large, fully fenced back yard. Separate dining room with look-through window into living space. Extra storage room with shelving off kitchen. Nice curb appeal with a sprawling beautiful shade tree. Large 2-car detached garage with side entry and garage opener. Home has passed city inspection. Prime location with easy access to 94, Telegraph and amenities.

Key facts

• Separate dining room
• Sprawling shade tree
• Corner lot

Tags

• CORNER LOT
• FULLY FENCED BACK YARD
• SEPARATE DINING ROOM
• EXTRA STORAGE ROOM
• SPRAWLING SHADE TREE
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Natural gas available; Electricity available; Public water
• Home design: Ranch-style single-family residence; Approximately 978 total building area; Built in 1949
• Construction: Block construction; Shingle roof; Slab foundation
• Exterior features: Corner lot with sidewalk; Paved road access; Public water

Interior

• Kitchen: Disposal
• Bedrooms: Primary bedroom (approx. 11 x 11); Second bedroom (approx. 9 x 9)
• Bathrooms: 1 full bathroom (approx. 10 x 6)
• Heating & cooling: Forced air heating
• Interior features: Garage door opener; Window treatments
• Laundry & utility: Slab foundation (no basement finish indicated)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 7.5% vs local median 4.3% in Dearborn — 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 80/100 on livability (#84 in MI, #1,904 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D.
• Dearborn City School District (urban): math 26% / reading 39% proficiency, ranked #325 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Long Elementary School (math 22% / reading 32%, grade F, #923 of 1,397 statewide, top 69%, 230 students, 70% FRL); Smith Middle School (math 24% / reading 40%, grade F, #317 of 493 statewide, top 65%, 465 students, 62% FRL); Edsel Ford High School (math 20% / reading 43%, grade F, #425 of 713 statewide, top 60%, 1,639 students, 68% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 154 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 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 $4k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 26y 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 $112k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1949 — 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 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?
4. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $150,612
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24304 Carlysle St	0.13mi	2/1.0	895 (-8%)	2mo	$137,000	$153	78
25036 Colgate St	0.42mi	3/1.0 (+1)	945 (-3%)	1mo	$85,000	$90	69
24360 Pennie St	0.56mi	3/1.0 (+1)	988 (+1%)	4mo	$142,000	$144	64
4145 Parker St	0.68mi	3/1.0 (+1)	976 (-0%)	1mo	$195,000	$200	62
25046 Andover Dr	0.41mi	3/1.0 (+1)	910 (-7%)	3mo	$140,000	$154	61
4116 Syracuse St	0.36mi	3/1.0 (+1)	1,068 (+9%)	3mo	$153,000	$143	61
24337 Pennie St	0.59mi	3/1.0 (+1)	1,008 (+3%)	2mo	$168,000	$167	60
24409 Stanford St	0.24mi	3/1.0 (+1)	1,107 (+13%)	2mo	$129,900	$117	60
4165 Westpoint St	0.30mi	3/1.0 (+1)	847 (-13%)	1mo	$170,000	$201	58
4140 Syracuse St	0.37mi	3/1.0 (+1)	860 (-12%)	2mo	$150,000	$174	56
25038 Annapolis St	0.55mi	2/1.0	841 (-14%)	1mo	$125,000	$149	50
23245 Annapolis St	0.72mi	2/1.0	870 (-11%)	1mo	$150,000	$172	48

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 · 3.57% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-13,855
• Equity at exit: $22,351

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $3,918
• Equity at exit: $12,961

Cash invested: $41,972 (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 48124

• Rents YoY: 3.6%
• Active inventory: 154
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$786
• Tax from tax record: −$188 /mo · $2,261/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $150

Break-even live

Break-even rent $1,313

Max offer price $149,900

Occupancy floor 85%

Sensitivity live

Price	-10% $235	-5% $192	+0% $150	+5% $107	+10% $65
Rent	-10% $31	-5% $91	+0% $150	+5% $209	+10% $269
Rate	-1.0pp $225	-0.5pp $188	base $150	+0.5pp $111	+1.0pp $72

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24154 Dartmouth St Dearborn, MI	2.0	1.0	950	$1,275	$1.34	17d	1	0.02mi
24601 Andover Dr Dearborn Heights, MI	3.0	1.5	1092	$1,700	$1.56	4d	1	0.22mi
24442 Union St Dearborn, MI	3.0	1.5	1000	$1,900	$1.90	0d	1	0.23mi
4481 Westpoint St Dearborn Heights, MI	3.0	2.0	768	$1,549	$2.02	17d	1	0.41mi
25016 Lehigh St Dearborn Heights, MI	2.0	1.0	1000	$1,400	$1.40	6d	1	0.47mi
3809 Heritage Pkwy Dearborn, MI	2.0	1.5	1035	$1,400	$1.35	46d	1	0.53mi
3763 Heritage Pkwy Dearborn, MI	2.0	1.5	1035	$1,450	$1.40	46d	1	0.58mi
3755 Heritage Pkwy Dearborn, MI	2.0	1.0	830	$1,450	$1.75	46d	1	0.59mi
25722 Carlysle St Dearborn Heights, MI	3.0	1.0	1040	$1,450	$1.39	19d	1	0.83mi
2825 Queen St Dearborn, MI	2.0	1.0	1000	$1,299	$1.30	46d	1	0.87mi
25745 Princeton St Dearborn Heights, MI	3.0	1.0	1080	$1,500	$1.39	13d	1	1.02mi
26089 Lehigh St Inkster, MI	2.0	1.0	900	$1,295	$1.44	19d	1	1.08mi
5845 Michael St Taylor, MI	2.0	1.0	618	$1,325	$2.14	6d	1	1.10mi
3620 Monroe St Dearborn, MI	3.0	2.0	1100	$1,800	$1.64	12d	1	1.12mi
4934 McKinley St Dearborn Heights, MI	3.0	1.0	1051	$1,700	$1.62	0d	1	1.13mi
5640 Pardee Ave Unit 7 Dearborn Heights, MI	1.0	1.0	799	$999	$1.25	5d	1	1.13mi
5680 Pardee Ave Unit 3 Dearborn Heights, MI	1.0	1.0	750	$999	$1.33	20d	1	1.14mi
5680 Pardee Ave Dearborn Heights, MI	1.0	1.0	750	$999	$1.33	26d	1	1.14mi
24720 Michigan Ave Dearborn, MI	2.0	1.0	900	$1,350	$1.50	46d	1	1.19mi
5640 Pardee Ave Dearborn Heights, MI	1.0	1.0	799	$999	$1.25	26d	1	1.20mi
26382 Colgate St Inkster, MI	2.0	1.0	850	$935	$1.10	26d	1	1.29mi
1441 S Telegraph Rd Dearborn, MI	1.0	1.0	608	$900	$1.48	6d	1	1.29mi
4757 Dudley St Dearborn Heights, MI	3.0	1.0	995	$1,350	$1.36	13d	1	1.34mi
6477 Westpoint St Taylor, MI	1.0	1.0	650	$900	$1.38	7d	1	1.43mi
26707 Penn St Inkster, MI	3.0	1.0	900	$1,400	$1.56	7d	1	1.47mi
4810 Campbell St Dearborn Heights, MI	3.0	1.0	1000	$1,700	$1.70	0d	1	1.49mi
26742 Penn St Inkster, MI	3.0	1.0	1000	$1,300	$1.30	19d	1	1.50mi

Listing history 5 events

1. 2026-06-22
   days on market $149,900 Active 6 DOM
2. 2026-06-21
   days on market $149,900 Active 5 DOM
3. 2026-06-18
   days on market $149,900 Active 2 DOM
4. 2026-06-17
   remarks 398-char remark
5. 2026-06-17
   listed $149,900 Active 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: $2,261 · $188/mo
• Projected year-2 tax: $2,285 · $190/mo
• Expected delta: +$24/yr (+$2/mo · 1.1%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,027
• − Mortgage interest: −$8,397
• − Property taxes: −$2,261
• − Insurance: −$750
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$4,361
• Taxable loss: −$625
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $1,948/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: Dearborn City School District
• NCES district ID: 2611600
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $46,884
• Composite: 27.93/100
• National rank: #6864
• State rank: #325 of 540 in MI

Livability — Dearborn

• Score: 80/100
• State rank: #84
• US rank: #1904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn, MI
• County: Wayne County · 1,562,939 people
• City population: 86,476
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 34,479
• Household income: $81,796
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 444.0

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 White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Arabic 12% Spanish 2% Other Indo-European 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: ▼ -278.39%
• Current HPI: 204.5229
• Rent YoY: ▲ 3.57%
• 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

+66.7% since first listed

25 events — show timeline

• 2026-06-16 Listed $149,900 REALCOMP
• 2026-06-16 Listed $149,900 SW Michigan MLS
• 2026-06-16 Listed $149,900 MiRealSource-MiMLS
• 2005-11-10 Sold (Public Records) $112,000 Public Records
• 2005-08-31 Sold (MLS) $113,000 REALCOMP
• 2005-07-07 Listed $109,900 REALCOMP
• 2005-07-01 Listing Removed — REALCOMP
• 2005-02-28 Listed $107,900 REALCOMP
• 2005-02-27 Listing Removed — REALCOMP
• 2004-08-27 Listed $107,900 REALCOMP
• 2003-08-28 Listing Removed — MiRealSource-MiMLS
• 2003-06-22 Listing Removed — REALCOMP
• 2003-03-03 Listed $110,000 REALCOMP
• 2003-03-03 Listed $110,000 REALCOMP
• 2003-03-03 Listed $110,000 MiRealSource-MiMLS
• 2001-05-10 Sold (MLS) $87,000 REALCOMP
• 2001-05-10 Sold (MLS) $87,000 MiRealSource-MiMLS
• 2001-03-14 Listing Removed — REALCOMP
• 2001-03-14 Listed $89,900 REALCOMP
• 2001-03-14 Listed $89,900 MiRealSource-MiMLS
• 2001-03-11 Listing Removed — REALCOMP
• 2001-03-11 Listing Removed — MiRealSource-MiMLS
• 2000-09-11 Listed $89,900 REALCOMP
• 2000-09-11 Listed $89,900 MiRealSource-MiMLS
• 2000-09-11 Listed $89,900 REALCOMP

Property tax history

+1.5%/yr

Latest (2025): $2,261 · -0.3% YoY. Source: county tax records.