24494 Edwin · Brownstown, MI 48134

$88,000

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 114 Days on market

Built 2015 Good condition 4,356 sqft lot $56/sqft · 56% below area $653/mo HOA · 37% of rent

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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 +21.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well cared for and move-in ready, this 3-bedroom, 2 full bath home offers over 1,500 square feet of comfortable living space, with walk-in closets in all three bedrooms. Situated on one of the better lot locations in the community, this home offers a backyard feel that truly stands out--plenty of outdoor space to enjoy without feeling boxed in. Add in the private driveway, carport, and move-in ready condition, and this one checks a lot of boxes. Financing available!!

Key facts

• Private driveway
• Walk-in closets
• Carport

Tags

• WALK-IN CLOSETS
• PRIVATE DRIVEWAY
• CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $88k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $80k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.3% in Brownstown — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Woodhaven-Brownstown School District (suburban): math 32% / reading 49% proficiency, ranked #189 of 540 in MI (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Erving Elementary School (math 22% / reading 37%, grade F, #866 of 1,397 statewide, top 65%, 496 students, 54% FRL); Brownstown Middle School (math 30% / reading 45%, grade F, #243 of 493 statewide, top 50%, 815 students, 53% FRL); Woodhaven High School (math 33% / reading 61%, grade D-, #187 of 713 statewide, top 29%, 1,203 students, 41% FRL) — zoned schools average 49% FRL vs 34% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 69d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $608 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.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $80,080 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.99% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.03%
• DSCR: 1.27
• GRM: 4.2

CMA / ARV

• ARV (median comp): $199,221
• List price: $88,000
• Delta: -55.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24321 Kingston Cir	0.12mi	3/2.0	1,568 (0%)	16mo	$69,500	$44	81
25182 Frontier Cir	0.64mi	3/2.0	1,568 (0%)	5mo	$50,000	$32	66
25211 Canyon Cir	0.58mi	3/2.0	1,500 (-4%)	20mo	$42,800	$29	49
24401 Christian Dr	0.66mi	3/3.5	1,726 (+10%)	1mo	$351,000	$203	46
24436 Mount Olive Dr	0.73mi	3/1.0	1,460 (-7%)	8mo	$240,000	$164	44
24821 Cherokee	0.43mi	3/2.0	1,736 (+11%)	24mo	$40,000	$23	43
24401 Christian Dr	0.66mi	3/3.5	1,726 (+10%)	12mo	$331,000	$192	37
24508 Mt. Olive Dr	0.68mi	3/2.0	1,800 (+15%)	24mo	$295,000	$164	24

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-5,940
• Equity at exit: $13,121

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $6,727
• Equity at exit: $7,609

Cash invested: $24,640 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 4 active · 9 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $90,000 ($60/sqft)
• Median days on market: 80 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +113.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48134

• Active inventory: 161
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,753 medium
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,320/yr
• Insurance: −$37
• HOA: −$653
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $124

Break-even live

Break-even rent $1,596

Max offer price $88,000

Occupancy floor 88%

Sensitivity live

Price	-10% $185	-5% $154	+0% $124	+5% $94	+10% $63
Rent	-10% $-15	-5% $55	+0% $124	+5% $193	+10% $262
Rate	-1.0pp $168	-0.5pp $146	base $124	+0.5pp $101	+1.0pp $78

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: $22,000
• Closing costs: $2,640
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23867 Greenwood Dr Flat Rock, MI	2.0	2.0	1326	$1,800	$1.36	9d	1	0.44mi
23867 Greenwood Dr Flat Rock, MI	2.0	2.0	1326	$1,800	$1.36	75d	1	0.44mi
23867 Greenwood Dr Flat Rock, MI	2.0	2.0	1326	$1,800	$1.36	69d	1	0.44mi
23501 Van Horn Rd Woodhaven, MI	3.0	2.0	1216	$1,329	$1.09	32d	1	0.54mi

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $653Community pool

Exterior

• Parking: DrivewayCarportNo garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne storyGround-level entry with stepsVinyl siding construction
• Construction: Vinyl sidingOne-level construction
• Exterior features: Covered porchIn-ground community poolPaved road access

Interior

• Kitchen: DishwasherFree-standing gas ovenFree-standing refrigerator
• Bedrooms: 3 total rooms (includes bedroom count context)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heatingNatural gas heatingCentral air conditioningCeiling fan(s)
• Interior features: DishwasherFree-standing gas ovenFree-standing refrigeratorCrawl space basementCeiling fansCentral air

Listing history 50 events

1. 2026-11-08
   days on market $88,000 Active 114 DOM
2. 2026-11-07
   days on market $88,000 Active 113 DOM
3. 2026-11-06
   days on market $88,000 Active 112 DOM
4. 2026-11-05
   days on market $88,000 Active 111 DOM
5. 2026-11-04
   days on market $88,000 Active 110 DOM
6. 2026-11-02
   days on market $88,000 Active 108 DOM
7. 2026-11-01
   days on market $88,000 Active 107 DOM
8. 2026-10-31
   days on market $88,000 Active 106 DOM
9. 2026-10-30
   days on market $88,000 Active 105 DOM
10. 2026-10-29
    days on market $88,000 Active 104 DOM
11. 2026-10-28
    days on market $88,000 Active 103 DOM
12. 2026-10-27
    days on marketlisting id $88,000 Active 102 DOM
13. 2026-10-26
    days on market $88,000 Active 101 DOM
14. 2026-10-25
    days on market $88,000 Active 100 DOM
15. 2026-10-24
    days on market $88,000 Active 99 DOM
16. 2026-10-23
    days on market $88,000 Active 98 DOM
17. 2026-10-22
    days on market $88,000 Active 97 DOM
18. 2026-10-21
    days on market $88,000 Active 96 DOM
19. 2026-10-20
    days on market $88,000 Active 95 DOM
20. 2026-10-19
    days on market $88,000 Active 94 DOM
21. 2026-10-18
    days on market $88,000 Active 93 DOM
22. 2026-10-17
    days on market $88,000 Active 92 DOM
23. 2026-10-16
    pricelisting id $88,000 Active 91 DOM
24. 2026-10-16
    days on market $96,000 Active 91 DOM
25. 2026-10-15
    days on market $96,000 Active 90 DOM
26. 2026-10-14
    days on market $96,000 Active 89 DOM
27. 2026-10-13
    days on market $96,000 Active 88 DOM
28. 2026-10-12
    days on market $96,000 Active 87 DOM
29. 2026-10-11
    days on market $96,000 Active 86 DOM
30. 2026-10-10
    days on market $96,000 Active 85 DOM
31. 2026-10-09
    days on market $96,000 Active 84 DOM
32. 2026-10-08
    days on market $96,000 Active 83 DOM
33. 2026-10-07
    days on market $96,000 Active 82 DOM
34. 2026-10-06
    days on market $96,000 Active 81 DOM
35. 2026-10-05
    days on market $96,000 Active 80 DOM
36. 2026-10-04
    days on market $96,000 Active 79 DOM
37. 2026-10-03
    days on market $96,000 Active 78 DOM
38. 2026-10-02
    days on market $96,000 Active 77 DOM
39. 2026-10-01
    days on market $96,000 Active 76 DOM
40. 2026-09-30
    days on market $96,000 Active 75 DOM
41. 2026-09-29
    days on market $96,000 Active 74 DOM
42. 2026-09-28
    days on market $96,000 Active 73 DOM
43. 2026-09-27
    pricedays on marketlisting id $96,000 Active 72 DOM
44. 2026-09-25
    days on market $92,000 Active 70 DOM
45. 2026-09-24
    days on market $92,000 Active 69 DOM
46. 2026-09-23
    days on market $92,000 Active 68 DOM
47. 2026-09-22
    days on market $92,000 Active 67 DOM
48. 2026-09-21
    days on market $92,000 Active 66 DOM
49. 2026-09-20
    days on market $92,000 Active 65 DOM
50. 2026-09-19
    days on market $92,000 Active 64 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,039
• − Mortgage interest: −$4,929
• − Property taxes: −$1,320
• − Insurance: −$440
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − HOA: −$7,836
• − Depreciation: −$2,560
• Taxable income: $587
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $1,346/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $7,840–$23,520 screening

This move-in ready home offers a good condition with some minor repairs needed in the kitchen and bathrooms. Updates to paint and replace worn carpet would significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Dated appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn carpet — Fresh carpet improves comfort and appearance ↑
• Both Update kitchen cabinets — Fresh cabinets improve functionality and aesthetics ↑
• Both Update bathroom fixtures — Fresh fixtures improve functionality and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Erving Elementary School F MI #866/1,397 Nat'l #26,716/41,679 Middle Brownstown Middle School F MI #243/493 Nat'l #6,708/14,009 High Woodhaven High School D- MI #187/713 Nat'l #6,330/17,239

Schools (NCES district)

• District: Woodhaven-Brownstown School District
• NCES district ID: 2636485
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $58,200
• Composite: 35.63/100
• National rank: #4885
• State rank: #189 of 540 in MI

Livability — Brownstown

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,675,273 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 23,935
• Household income: $92,076
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Black 8%
• Hispanic origin (detail): Mexican 6%
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

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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: ▼ -223.42%
• Current HPI: 232.7533
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $653Community pool

Exterior

• Parking: DrivewayCarportNo garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne storyGround-level entry with stepsVinyl siding construction
• Construction: Vinyl sidingOne-level construction
• Exterior features: Covered porchIn-ground community poolPaved road access

Interior

• Kitchen: DishwasherFree-standing gas ovenFree-standing refrigerator
• Bedrooms: 3 total rooms (includes bedroom count context)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heatingNatural gas heatingCentral air conditioningCeiling fan(s)
• Interior features: DishwasherFree-standing gas ovenFree-standing refrigeratorCrawl space basementCeiling fansCentral air

Price history

+0.0% since first listed

15 events — show timeline

• 2026-07-20 Listing Removed — REALCOMP
• 2026-07-17 Listing Removed — REALCOMP
• 2026-07-17 Listing Removed — MiRealSource-MiMLS
• 2026-07-17 Price Changed $96,000 MiRealSource-MiMLS
• 2026-07-16 Price Changed $96,000 REALCOMP
• 2026-07-08 Price Changed $98,000 MiRealSource-MiMLS
• 2026-07-07 Price Changed $98,000 REALCOMP
• 2026-05-12 Price Changed $100,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $100,000 REALCOMP
• 2026-04-18 Listed $96,000 MiRealSource-MiMLS
• 2026-04-18 Listed $96,000 REALCOMP
• 2026-04-18 Listed $96,000 MiRealSource-MiMLS
• 2026-04-18 Listed $105,000 REALCOMP
• 2026-04-18 Listed $105,000 MiRealSource-MiMLS
• 2026-04-18 Listed $96,000 REALCOMP