147 1st St · Wyandotte, MI 48192

$224,900

4 bd · 3.0 ba · 1,606 sqft · SingleFamily public records · 160 Days on market

Built 1918 4,792 sqft lot Est $246k · 8% under

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Why this score? — see what drove the D- 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).

• ARV discount +11.3/15.0
• Cash flow +8.6/30.0
• Rent growth +4.5/5.0
• Livability +4.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1918

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Ground-level entry with steps; Brick construction; Asphalt roof
• Construction: Brick exterior; Brick/mortar foundation; Asphalt roof; Built area above grade: 1,875 (finished); Finished below-grade area: 877
• Exterior features: Patio; Porch; Fenced yard; Paved road access

Interior

• Kitchen: Free-standing refrigerator
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced air heating (natural gas)
• Interior features: Finished full basement; 11 total rooms; Washer and Dryer; Free-standing refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (15.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (28.5% below list).
• Recommended offer: $161k (28.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 88/100 on livability (#11 in MI, #181 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-.
• Wyandotte School District (suburban): math 27% / reading 45% proficiency, ranked #262 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.9%/yr); 117 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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 160 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 28y ago; this cycle's ask has dropped $55k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $225k implies a 603% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,763 (28.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.70%
• DSCR: 0.84
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $245,718
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
173 S Riverbank St	0.28mi	4/2.0	1,599 (-0%)	7mo	$166,000	$104	77
82 Emmons Blvd	0.02mi	3/2.0 (-1)	1,791 (+12%)	12mo	$289,000	$161	61
243 2nd St	0.10mi	3/1.5 (-1)	1,428 (-11%)	10mo	$219,000	$153	58
403 Clinton St	0.46mi	4/2.0	1,782 (+11%)	2mo	$260,000	$146	55
637 Emmons Blvd	0.53mi	3/2.0 (-1)	1,659 (+3%)	12mo	$290,000	$175	50
313 Clinton St	0.40mi	4/1.5	1,440 (-10%)	13mo	$200,000	$139	47
113 Bondie St	0.37mi	3/1.0 (-1)	1,400 (-13%)	4mo	$220,000	$157	45
3620 N Shore Dr	0.73mi	3/2.0 (-1)	1,636 (+2%)	13mo	$265,000	$162	43
335 6th St	0.51mi	3/1.5 (-1)	1,450 (-10%)	8mo	$215,000	$148	42
230 Saint Johns St	0.51mi	3/2.5 (-1)	1,765 (+10%)	13mo	$307,000	$174	42
836 Clinton St	0.74mi	3/2.0 (-1)	1,656 (+3%)	14mo	$236,000	$143	40
716 Kings Hwy	0.60mi	3/2.0 (-1)	1,842 (+15%)	2mo	$181,000	$98	37

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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.36×
• Total profit: $-40,597
• Equity at exit: $33,533

10-year hold

• IRR: -2.8%
• Equity multiple: 0.78×
• Total profit: $-13,981
• Equity at exit: $19,445

Cash invested: $62,972 (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 48192

• Rents YoY: 7.9%
• Active inventory: 117
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,608 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$191 /mo · $2,294/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $-194

Break-even live

Break-even rent $1,853

Max offer price $190,592

Occupancy floor —

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
168 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,295	$1.20	4d	1	0.32mi
170 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,399	$1.30	2d	1	0.32mi
4509 High St Ecorse, MI	3.0	1.5	2250	$1,700	$0.76	1d	1	0.53mi
357 Emmons Blvd Lincoln Park, MI	3.0	1.0	1268	$1,695	$1.34	1d	1	0.76mi
1159 McKinley St Wyandotte, MI	3.0	1.0	1050	$1,350	$1.29	1d	1	0.82mi
4282 7th St Ecorse, MI	3.0	1.0	1144	$1,250	$1.09	24d	1	1.06mi
1473 Empire Ave Lincoln Park, MI	3.0	2.0	1342	$1,700	$1.27	1d	1	1.33mi
854 Harrison Blvd Lincoln Park, MI	3.0	1.0	1410	$1,750	$1.24	43d	1	1.34mi

Listing history 36 events

1. 2026-06-18
   days on market $224,900 Active 160 DOM
2. 2026-06-17
   days on market $224,900 Active 159 DOM
3. 2026-06-16
   days on market $224,900 Active 158 DOM
4. 2026-06-15
   days on market $224,900 Active 157 DOM
5. 2026-06-13
   days on market $224,900 Active 155 DOM
6. 2026-06-13
   days on market $224,900 Active 154 DOM
7. 2026-06-09
   days on market $224,900 Active 151 DOM
8. 2026-06-08
   days on market $224,900 Active 150 DOM
9. 2026-06-07
   days on market $224,900 Active 149 DOM
10. 2026-06-04
    days on market $224,900 Active 146 DOM
11. 2026-06-03
    days on market $224,900 Active 145 DOM
12. 2026-06-02
    days on market $224,900 Active 144 DOM
13. 2026-06-01
    days on market $224,900 Active 143 DOM
14. 2026-05-31
    days on market $224,900 Active 142 DOM
15. 2026-04-28
    price $224,900 796-char remark

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

16. 2026-04-27
    price $224,900
17. 2026-03-13
    price $234,900 796-char remark

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

18. 2026-03-13
    price $234,900

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

19. 2026-01-29
    price $249,900 796-char remark

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

20. 2026-01-29
    price $249,900

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

21. 2026-01-09
    listed $279,900 Active

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

22. 2026-01-09
    listed $279,900 Active 796-char remark

    Show marketing remark (796 chars)

    Welcome to this spacious 3-story home offering 1,875 SQFT of living space with 4 bedrooms, 2 full bathrooms, and 2 half bathrooms. Enter from the covered front porch to the 1st floor featuring a comfortable living room with a fireplace, recessed lighting throughout, a kitchen with a breakfast nook, a formal dining room, and a convenient half bath. On the second level, you'll find the primary bedroom with an ensuite bathroom, along with three additional ample sized bedrooms. The fully finished third floor includes a half bathroom and offers ample space for an additional bedroom, home office, or flexible living area. The finished basement adds even more versatility with a full bathroom, laundry room, and plenty of room for storage or extra living space. Schedule your showing today! BTVAI

23. 2015-08-19
    historical
24. 2015-08-18
    historical
25. 2014-04-22
    listed $109,900 Active
26. 2014-04-22
    listed $109,900
27. 2013-02-28
    soldstatus $32,000
28. 2013-02-28
    soldstatus $32,000
29. 2013-01-19
    historical
30. 2013-01-19
    historical
31. 2012-10-08
    listed $31,900
32. 2012-10-08
    listed $31,900
33. 1999-03-17
    soldstatus $121,900
34. 1998-09-01
    historical
35. 1998-06-08
    listed $129,900
36. 1994-05-17
    soldstatus $85,000

ⓘ 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: $2,294 · $191/mo
• Projected year-2 tax: $2,878 · $240/mo
• Expected delta: +$585/yr (+$49/mo · 25.5%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,292
• − Mortgage interest: −$12,598
• − Property taxes: −$2,294
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$6,543
• Taxable loss: −$6,354
• Est. tax savings @ 24.0%: +$1,525
• After-tax cash flow: $-806/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: Wyandotte School District
• NCES district ID: 2636540
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $50,265
• Composite: 31.13/100
• National rank: #6060
• State rank: #262 of 540 in MI

Livability — Wyandotte

• Score: 88/100
• State rank: #11
• US rank: #181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyandotte, MI
• County: Wayne County · 1,562,939 people
• City population: 24,489
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,489
• Household income: $71,987
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 570.0

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% Hispanic / Latino 8% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 19% Lithuanian 4% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 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: ▼ -228.97%
• Current HPI: 174.8428
• Rent YoY: ▲ 7.86%
• 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

+164.6% since first listed

22 events — show timeline

• 2026-04-28 Price Changed $224,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $224,900 REALCOMP
• 2026-03-13 Price Changed $234,900 MiRealSource-MiMLS
• 2026-03-13 Price Changed $234,900 REALCOMP
• 2026-01-29 Price Changed $249,900 MiRealSource-MiMLS
• 2026-01-29 Price Changed $249,900 REALCOMP
• 2026-01-09 Listed $279,900 REALCOMP
• 2026-01-09 Listed $279,900 MiRealSource-MiMLS
• 2015-08-19 Listing Removed — REALCOMP
• 2015-08-18 Listing Removed — MiRealSource-MiMLS
• 2014-04-22 Listed $109,900 MiRealSource-MiMLS
• 2014-04-22 Listed $109,900 REALCOMP
• 2013-02-28 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2013-02-28 Sold (MLS) $32,000 REALCOMP
• 2013-01-19 Listing Removed — MiRealSource-MiMLS
• 2013-01-19 Listing Removed — REALCOMP
• 2012-10-08 Listed $31,900 MiRealSource-MiMLS
• 2012-10-08 Listed $31,900 REALCOMP
• 1999-03-17 Sold (Public Records) $121,900 Public Records
• 1998-09-01 Listing Removed — REALCOMP
• 1998-06-08 Listed $129,900 REALCOMP
• 1994-05-17 Sold (Public Records) $85,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $2,294 · -15.4% YoY. Source: county tax records.