1822 4th St · Wyandotte, MI 48192

$222,500

6 bd · 4.0 ba · — sqft · MultiFamily · 42 Days on market

Built 1907 Fair condition 6,098 sqft lot

---

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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +4.4/5.0
• Schools +3.1/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Turnkey income-producing duplex in desirable Wyandotte! Both units are occupied by established tenants with lease terms extending through Fall 2026, creating reliable cash flow from day one. Property offers a solid opportunity for investors seeking immediate income and long-term upside in a strong rental market. Conveniently located near shopping, restaurants, waterfront attractions, and commuter routes. Please do not disturb tenants.

Key facts

• 6,098 sq ft lot
• Built 1907
• Listed 42 days

Property features AI

Finance

• Other: Property listed as residential income (multi-family)
• Financial info: No investor-specific income or expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Public sewer (sewer available/connected); Electricity connected; Natural gas connected
• Home design: Multi-family residential income property; Two unit configuration (main floor and second floor)
• Construction: Vinyl siding
• Exterior features: Paved frontage on a public maintained road; Lot dimensions approximately 60 x 100 (about 0.14 acres)

Interior

• Kitchen: No specific kitchen appliance information provided
• Bedrooms: Main floor: 2 bedrooms; 2nd floor: 1 bedroom
• Flooring: No flooring information provided
• Bathrooms: Main floor: 1 bathroom; 2nd floor: 1 bathroom
• Heating & cooling: Natural gas heating; Forced air heating; Electric and baseboard heating; Window air conditioning units
• Interior features: Full basement
• Laundry & utility: No specific laundry information provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $222k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive. Per door: $406/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $222k).
• Recommended offer: $216k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.9% in Wyandotte — 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 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; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,974/mo this rent would consume 50% of the median local household income ($72k/yr) (locally 570% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $62k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $215,825 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.64%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

No comps found within radius.

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Hudson St	0.25mi	6/2.0	1,900	12mo	$230,000	$121	58
2240 Biddle Ave	0.43mi	6/2.0	2,738	6mo	$355,000	$130	54
566 Poplar St	0.47mi	5/3.0 (-1)	2,414	9mo	$258,000	$107	49

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: 11.8%
• Equity multiple: 1.50×
• Total profit: $30,951
• Equity at exit: $33,175

10-year hold

• IRR: 24.4%
• Equity multiple: 3.62×
• Total profit: $162,942
• Equity at exit: $19,238

Cash invested: $62,300 (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: 12.5×

Monthly cashflow live

• Estimated rent: $2,974 high
• Mortgage (P&I): −$1,167
• Tax est. 1.5%: −$278 /mo · $3,338/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $812

Break-even live

Break-even rent $1,946

Max offer price $222,500

Occupancy floor 68%

Sensitivity live

Price	-10% $966	-5% $889	+0% $812	+5% $735	+10% $658
Rent	-10% $577	-5% $694	+0% $812	+5% $929	+10% $1,047
Rate	-1.0pp $924	-0.5pp $868	base $812	+0.5pp $754	+1.0pp $696

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,974
Total (2 units)			$2,974

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: $55,625
• Closing costs: $6,675
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $222,500 Active 42 DOM
2. 2026-06-17
   days on market $222,500 Active 41 DOM
3. 2026-06-16
   days on market $222,500 Active 40 DOM
4. 2026-06-15
   days on market $222,500 Active 39 DOM
5. 2026-06-13
   days on market $222,500 Active 37 DOM
6. 2026-06-13
   days on market $222,500 Active 36 DOM
7. 2026-06-09
   days on market $222,500 Active 33 DOM
8. 2026-06-08
   days on market $222,500 Active 32 DOM
9. 2026-06-07
   days on market $222,500 Active 31 DOM
10. 2026-06-04
    days on market $222,500 Active 28 DOM
11. 2026-06-03
    days on market $222,500 Active 27 DOM
12. 2026-06-02
    days on market $222,500 Active 26 DOM
13. 2026-06-01
    pricedays on market $222,500 Active 25 DOM
14. 2026-05-31
    days on market $230,000 Active 24 DOM
15. 2026-05-07
    listed $230,000 Active

    Show marketing remark (438 chars)

    Turnkey income-producing duplex in desirable Wyandotte! Both units are occupied by established tenants with lease terms extending through Fall 2026, creating reliable cash flow from day one. Property offers a solid opportunity for investors seeking immediate income and long-term upside in a strong rental market. Conveniently located near shopping, restaurants, waterfront attractions, and commuter routes. Please do not disturb tenants.

16. 2026-05-07
    listed $230,000 Active 438-char remark

    Show marketing remark (438 chars)

    Turnkey income-producing duplex in desirable Wyandotte! Both units are occupied by established tenants with lease terms extending through Fall 2026, creating reliable cash flow from day one. Property offers a solid opportunity for investors seeking immediate income and long-term upside in a strong rental market. Conveniently located near shopping, restaurants, waterfront attractions, and commuter routes. Please do not disturb tenants.

ⓘ 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: $35,688
• − Mortgage interest: −$12,463
• − Property taxes: −$3,338
• − Insurance: −$1,112
• − Repairs & maintenance: −$2,855
• − Management: −$2,855
• − Depreciation: −$6,473
• Taxable income: $6,592
• Est. tax owed @ 24.0%: −$1,582
• After-tax cash flow: $8,160/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

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations, primarily in the kitchen and bathrooms, to improve its condition and value. The home is currently occupied by tenants, creating a reliable cash flow.

Repairs flagged

• Minor Kitchen clutter — Cluttered countertops and cabinets
• Minor Bathroom fixtures — Outdated pink tile and fixtures

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve curb appeal and interior aesthetics
• Both Replace outdated bathroom fixtures — Modern fixtures can increase both resale and rental value
• Both Deep clean and organize kitchen — A clean and organized kitchen can attract more tenants and buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen clutter · Cluttered countertops and cabinets	Minor	$500–3,000
Bathroom fixtures · Outdated pink tile and fixtures	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Replace outdated bathroom fixtures — Modern fixtures can increase both resale and rental value ↑
• Both Deep clean and organize kitchen — A clean and organized kitchen can attract more tenants and buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

2 events — show timeline

• 2026-05-07 Listed $230,000 MiRealSource-MiMLS
• 2026-05-07 Listed $230,000 REALCOMP