7154 Waldo St · Detroit, MI 48210

$77,000

2 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 30 Days on market

Built 1921 3,049 sqft lot Est $129k · 40% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE HOME !!! NICE NEIGHBORHOOD !! . .. .HUGE LIVING ROOM AND NICE KITCHEN !!1 CAR GARAGE , BASEMENT , NICE YARD , !!!! * PROPERTY IS RENTED WITH A GOOD PAYING TENNAT * * * * DO NOT DISTURB THE TENANTS * * *

Key facts

• 3,049 sq ft lot
• Garage
• Built 1921

Property features AI

Finance

• Other: Lot approximately 0.07 acres (30 x 100)

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation; Asphalt roof; Built area above grade: 1,312 square feet
• Exterior features: Paved road access; Pets not allowed

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• Recommended offer: $76k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 10.0% in Detroit — 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 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: 96 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; 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 $532 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,845 (1.5% below list)

Questions for the listing agent

1. Built in 1921 — 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: 1.69% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.88%
• DSCR: 2.15
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $128,576
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6898 Parkwood St	0.16mi	3/1.0 (+1)	1,332 (+2%)	19mo	$135,000	$101	69
5215 Larkins St	0.55mi	3/2.0 (+1)	1,320 (+1%)	10mo	$130,000	$98	56
4756 Casper St	0.47mi	3/2.0 (+1)	1,248 (-5%)	14mo	$120,000	$96	49
5227 Chopin St	0.55mi	3/1.5 (+1)	1,364 (+4%)	15mo	$128,500	$94	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.80×
• Total profit: $17,176
• Equity at exit: $11,481

10-year hold

• IRR: 27.9%
• Equity multiple: 3.47×
• Total profit: $53,242
• Equity at exit: $6,658

Cash invested: $21,560 (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 48210

• Home prices YoY: -22.3%
• Active inventory: 96
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$404
• Tax from tax record: −$124 /mo · $1,491/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $465

Break-even live

Break-even rent $709

Max offer price $77,000

Occupancy floor 59%

Sensitivity live

Price	-10% $509	-5% $487	+0% $465	+5% $443	+10% $421
Rent	-10% $362	-5% $414	+0% $465	+5% $516	+10% $568
Rate	-1.0pp $504	-0.5pp $485	base $465	+0.5pp $445	+1.0pp $425

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4031 Wesson St Apt 109 Detroit, MI	2.0	1.0	1000	$1,190	$1.19	45d	1	0.79mi
7263 Senator St Detroit, MI	2.0	1.0	909	$1,300	$1.43	45d	1	1.13mi
7265 Senator St Detroit, MI	2.0	1.0	1232	$1,300	$1.06	45d	1	1.13mi
2488 Woodmere St Detroit, MI	3.0	1.0	1000	$1,453	$1.45	6d	1	1.18mi

Listing history 40 events

1. 2026-06-21
   days on market $77,000 Active 30 DOM
2. 2026-06-18
   days on market $77,000 Active 27 DOM
3. 2026-06-17
   days on market $77,000 Active 26 DOM
4. 2026-06-15
   days on market $77,000 Active 24 DOM
5. 2026-06-13
   days on market $77,000 Active 22 DOM
6. 2026-06-13
   days on market $77,000 Active 21 DOM
7. 2026-06-09
   days on market $77,000 Active 18 DOM
8. 2026-06-08
   days on market $77,000 Active 17 DOM
9. 2026-06-07
   days on market $77,000 Active 16 DOM
10. 2026-06-04
    days on market $77,000 Active 13 DOM
11. 2026-06-03
    days on market $77,000 Active 12 DOM
12. 2026-06-02
    days on market $77,000 Active 11 DOM
13. 2026-06-01
    days on market $77,000 Active 10 DOM
14. 2026-05-31
    days on market $77,000 Active 9 DOM
15. 2026-05-22
    listed $77,000 Active 214-char remark

    Show marketing remark (214 chars)

    NICE HOME !!! NICE NEIGHBORHOOD !! . .. .HUGE LIVING ROOM AND NICE KITCHEN !!1 CAR GARAGE , BASEMENT , NICE YARD , !!!! * PROPERTY IS RENTED WITH A GOOD PAYING TENNAT * * * * DO NOT DISTURB THE TENANTS * * *

16. 2026-05-22
    listed $77,000 Active

    Show marketing remark (214 chars)

    NICE HOME !!! NICE NEIGHBORHOOD !! . .. .HUGE LIVING ROOM AND NICE KITCHEN !!1 CAR GARAGE , BASEMENT , NICE YARD , !!!! * PROPERTY IS RENTED WITH A GOOD PAYING TENNAT * * * * DO NOT DISTURB THE TENANTS * * *

17. 2021-03-16
    soldstatus $69,900
18. 2021-01-25
    soldstatus $55,000
19. 2019-03-12
    soldstatus $55,000
20. 2017-01-19
    historical
21. 2017-01-19
    historical
22. 2016-09-01
    price $34,000
23. 2016-08-31
    price $34,000
24. 2016-07-19
    listed $39,500 Active
25. 2016-07-19
    listed $39,500 Active
26. 2016-07-13
    listed $38,000
27. 2016-07-13
    historical
28. 2016-07-13
    listed $38,000
29. 2016-07-13
    historical
30. 2015-11-20
    historical
31. 2015-11-20
    historical
32. 2015-11-07
    price $25,000
33. 2015-10-23
    listed $27,500 Active
34. 2015-10-23
    listed $25,000
35. 2015-09-30
    historical
36. 2015-09-30
    historical
37. 2015-08-18
    listed $18,000 Active
38. 2015-08-18
    listed $18,000
39. 2003-07-18
    soldstatus $32,000
40. 2003-01-25
    listed $49,900

ⓘ 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: $1,491 · $124/mo
• Projected year-2 tax: $1,491 · $124/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 6/10 Major FEMA zone X (unshaded) · 71% 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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,572
• − Mortgage interest: −$4,313
• − Property taxes: −$1,491
• − Insurance: −$385
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$2,240
• Taxable income: $4,651
• Est. tax owed @ 24.0%: −$1,116
• After-tax cash flow: $4,464/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
• City population: 572,865
• Population (ZIP): 26,925

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 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 20% Black 17% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 44% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 2% Danish 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 50% Arabic 10%

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: ▼ -85.82%
• Current HPI: 299.5909
• 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

+54.3% since first listed

26 events — show timeline

• 2026-05-22 Listed $77,000 REALCOMP
• 2026-05-22 Listed $77,000 MiRealSource-MiMLS
• 2021-03-16 Sold (Public Records) $69,900 Public Records
• 2021-01-25 Sold (Public Records) $55,000 Public Records
• 2019-03-12 Sold (Public Records) $55,000 Public Records
• 2017-01-19 Listing Removed — REALCOMP
• 2017-01-19 Listing Removed — MiRealSource-MiMLS
• 2016-09-01 Price Changed $34,000 MiRealSource-MiMLS
• 2016-08-31 Price Changed $34,000 REALCOMP
• 2016-07-19 Listed $39,500 MiRealSource-MiMLS
• 2016-07-19 Listed $39,500 REALCOMP
• 2016-07-13 Listing Removed — MiRealSource-MiMLS
• 2016-07-13 Listed $38,000 MiRealSource-MiMLS
• 2016-07-13 Listing Removed — REALCOMP
• 2016-07-13 Listed $38,000 REALCOMP
• 2015-11-20 Listing Removed — REALCOMP
• 2015-11-20 Listing Removed — MiRealSource-MiMLS
• 2015-11-07 Price Changed $25,000 REALCOMP
• 2015-10-23 Listed $27,500 REALCOMP
• 2015-10-23 Listed $25,000 MiRealSource-MiMLS
• 2015-09-30 Listing Removed — REALCOMP
• 2015-09-30 Listing Removed — MiRealSource-MiMLS
• 2015-08-18 Listed $18,000 REALCOMP
• 2015-08-18 Listed $18,000 MiRealSource-MiMLS
• 2003-07-18 Sold (MLS) $32,000 REALCOMP
• 2003-01-25 Listed $49,900 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $1,491 · -54.1% YoY. Source: county tax records.