4575 Neff Ave · Detroit, MI 48224

$90,000

3 bd · 1.0 ba · 721 sqft · SingleFamily public records · 7 Days on market

Built 1943 7,841 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD CASE #261-795205. FHA. INSURED. FINANCING. NOT AVAIL. HOME SOLD AS IS. HUD MAKES NO REPAIRS. ELECTRONIC BIDDING VIA THE PHONE/INTERNET ONLY! COOP COMM. UP TO 5%. MCB & FUTURE MAKE NO WARRANTY AS TO EXISTENCE OF MOLD IN PROP. & IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS THEREOF. APPTS. MUST BE MADE THRU LISTING OFFICE.

Key facts

• Turn-key bungalow
• Updated kitchen
• 7,841 sq ft lot

Tags

• TURN-KEY BUNGALOW
• BRIGHT WELCOMING LIVING ROOM
• LUXURY VINYL PLANK FLOORING
• DEDICATED DINING AREA
• UPDATED KITCHEN
• CERAMIC TILE FLOORING

Property features AI

Finance

• Other: Lot frontage approximately 50 feet; Acreage approximately 0.18 acres
• Financial info: No additional financial details provided
• HOA & community: No land contract

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Public water; Natural gas; Forced air heating system
• Home design: Residential 1-1/2 story home; Built in 1943; Facing unspecified
• Construction: Basement foundation; Aluminum construction
• Exterior features: Aluminum exterior; Paved street frontage

Interior

• Kitchen: Entry-level kitchen (9 x 11) with ceramic flooring; Adjacent dining area (6 x 6) at entry level
• Bedrooms: Second-level primary bedroom (11 x 26) with carpet; Entry-level bedroom (9 x 9) with carpet; Entry-level bedroom (approx. 10' wide) with carpet
• Flooring: Carpet in bedrooms and living areas; Ceramic in kitchen and bathroom; Concrete in laundry/basement
• Bathrooms: One full bathroom (entry level) with ceramic flooring; approx. 5 x 4
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 8 rooms; Has unfinished basement
• Laundry & utility: Basement laundry room (8 x 8) with concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

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; 492 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $622 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y 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 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1943 — 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: 1.48% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $59,843
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5251 Neff Ave	0.37mi	2/1.0 (-1)	720 (-0%)	2mo	$46,000	$64	76
4607 Radnor St	0.36mi	2/1.0 (-1)	731 (+1%)	2mo	$50,000	$68	74
5298 Neff Ave	0.41mi	2/1.0 (-1)	720 (-0%)	2mo	$46,000	$64	74
5290 University Pl	0.44mi	2/1.0 (-1)	721 (0%)	5mo	$60,000	$83	70
17197 Waveney St	0.24mi	3/1.0	763 (+6%)	11mo	$79,500	$104	70
4811 Radnor St	0.36mi	2/1.0 (-1)	719 (-0%)	10mo	$50,000	$70	69
4138 University Pl	0.29mi	3/1.0	780 (+8%)	7mo	$77,500	$99	67
4528 Marseilles St	0.24mi	3/1.0	637 (-12%)	7mo	$77,500	$122	63
4481 Radnor St	0.38mi	2/1.0 (-1)	792 (+10%)	5mo	$32,000	$40	57
5203 Marseilles St	0.38mi	3/1.0	816 (+13%)	7mo	$77,500	$95	54
5243 Neff Ave	0.36mi	2/1.0 (-1)	816 (+13%)	7mo	$85,000	$104	51
5558 Radnor St	0.63mi	2/1.0 (-1)	660 (-8%)	6mo	$18,000	$27	46

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: 6.1%
• Equity multiple: 1.23×
• Total profit: $5,851
• Equity at exit: $13,419

10-year hold

• IRR: 13.3%
• Equity multiple: 1.94×
• Total profit: $23,720
• Equity at exit: $7,782

Cash invested: $25,200 (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: 492
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,336 high
• Mortgage (P&I): −$472
• Tax from tax record: −$179 /mo · $2,154/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $367

Break-even live

Break-even rent $872

Max offer price $90,000

Occupancy floor 68%

Sensitivity live

Price	-10% $418	-5% $392	+0% $367	+5% $341	+10% $316
Rent	-10% $261	-5% $314	+0% $367	+5% $420	+10% $472
Rate	-1.0pp $412	-0.5pp $390	base $367	+0.5pp $343	+1.0pp $320

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	44d	1	0.27mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	23d	1	0.27mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	44d	1	0.27mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	44d	1	0.28mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	1.00mi

Listing history 8 events

1. 2026-06-21
   days on market $90,000 Active 7 DOM
2. 2026-06-18
   days on market $90,000 Active 4 DOM
3. 2026-06-17
   days on market $90,000 Active 3 DOM
4. 2026-06-16
   days on market $90,000 Active 2 DOM
5. 2026-06-15
   days on marketlisting id $90,000 Active 1 DOM
6. 2026-06-15
   days on market $90,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $90,000 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: $2,154 · $179/mo
• Projected year-2 tax: $2,154 · $179/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 · 14 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: $16,036
• − Mortgage interest: −$5,041
• − Property taxes: −$2,154
• − Insurance: −$450
• − Repairs & maintenance: −$1,283
• − Management: −$1,283
• − Depreciation: −$2,618
• Taxable income: $3,207
• Est. tax owed @ 24.0%: −$770
• After-tax cash flow: $3,631/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

+210.3% since first listed

9 events — show timeline

• 2026-06-13 Listed $90,000 MiRealSource-MiMLS
• 2006-01-10 Sold (Public Records) $105,000 Public Records
• 2005-11-15 Sold (MLS) $43,500 REALCOMP
• 2005-05-27 Listed $43,200 REALCOMP
• 2002-03-22 Sold (Public Records) $70,000 Public Records
• 2001-12-10 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2001-11-26 Listing Removed — MiRealSource-MiMLS
• 2001-01-31 Listed $69,000 MiRealSource-MiMLS
• 1998-02-04 Sold (Public Records) $29,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,154 · +13.5% YoY. Source: county tax records.