4500 Katherine St · Dearborn Heights, MI 48125

$159,700

3 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 5 Days on market

Built 1941 6,534 sqft lot Est $179k · 11% 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).

• Cash flow +15.2/30.0
• ARV discount +12.4/15.0
• 1% rule +5.4/10.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS-IS. Buyer is responsible for obtaining and completing all required city inspections. Please note there is currently no DTE service connected to the property. This spacious 4-bedroom home in Dearborn Heights is ready for its next owner and offers endless potential with just a little personal touch. Outside, you'll find a fully fenced yard and a highly desirable oversized garage complete with a loft area above, perfect for storage, a workshop, or hobby space. Don't miss this great opportunity to make this home your own. BATVAI.

Key facts

• Fully fenced yard
• Loft area
• Oversized garage

Tags

• FULLY FENCED YARD
• OVERSIZED GARAGE
• LOFT AREA

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding construction
• Construction: Aluminum siding exterior
• Exterior features: Paved road access; Lot approximately 0.15 acres (47.10 x 138.00)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Crawl space basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $55 ($664/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 6.7% vs local median 5.5% in Dearborn Heights — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment D+, health & safety D+.
• Dearborn Heights School District #7 (suburban): math 13% / reading 26% proficiency, ranked #466 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oakley W Best Middle School (math 12% / reading 31%, grade F, #415 of 493 statewide, top 85%, 586 students, 82% FRL); Annapolis High School (math 12% / reading 32%, grade F, #582 of 713 statewide, top 83%, 748 students, 77% FRL) — zoned schools average 79% FRL vs 60% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 139 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 16y 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.
• Current owner paid $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,700

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $179,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4196 Clippert St	0.22mi	3/1.0	1,243 (-6%)	2mo	$189,500	$152	77
4994 Campbell St	0.34mi	3/1.0	1,422 (+7%)	1mo	$167,000	$117	71
20616 Powers Ave	0.62mi	3/1.0	1,288 (-3%)	3mo	$150,000	$116	64
4204 Hipp St	0.58mi	4/1.0 (+1)	1,296 (-2%)	1mo	$95,000	$73	63
4204 Hipp St	0.58mi	4/1.0 (+1)	1,296 (-2%)	1mo	$95,000	$73	63
4449 Academy St	0.71mi	3/2.0	1,312 (-1%)	2mo	$203,000	$155	60
4494 Huron St	0.63mi	4/1.0 (+1)	1,250 (-6%)	6mo	$190,000	$152	51
3610 Bennett St	0.71mi	3/1.5	1,456 (+10%)	2mo	$285,000	$196	47
4457 Grindley Park St	0.63mi	3/1.0	1,515 (+14%)	0mo	$125,000	$83	47
3804 Campbell St	0.47mi	3/1.5	1,130 (-15%)	6mo	$190,000	$168	46
4433 Mayfair St	0.72mi	3/1.5	1,475 (+11%)	1mo	$196,000	$133	45
3360 Alice St	0.69mi	3/2.0	1,185 (-11%)	5mo	$160,000	$135	41

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 · 2.03% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.47×
• Total profit: $-23,841
• Equity at exit: $23,812

10-year hold

• IRR: -8.3%
• Equity multiple: 0.50×
• Total profit: $-22,206
• Equity at exit: $13,808

Cash invested: $44,716 (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 48125

• Rents YoY: 2.0%
• Active inventory: 139
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,666 high
• Mortgage (P&I): −$837
• Tax from tax record: −$357 /mo · $4,278/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $55

Break-even live

Break-even rent $1,596

Max offer price $159,700

Occupancy floor 92%

Sensitivity live

Price	-10% $146	-5% $101	+0% $55	+5% $10	+10% $-35
Rent	-10% $-76	-5% $-10	+0% $55	+5% $121	+10% $187
Rate	-1.0pp $136	-0.5pp $96	base $55	+0.5pp $14	+1.0pp $-28

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: $39,925
• Closing costs: $4,791
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4757 Dudley St Dearborn Heights, MI	3.0	1.0	995	$1,350	$1.36	12d	1	0.13mi
4934 McKinley St Dearborn Heights, MI	3.0	1.0	1051	$1,700	$1.62	0d	1	0.26mi
4810 Campbell St Dearborn Heights, MI	3.0	1.0	1000	$1,700	$1.70	0d	1	0.26mi
4638 Gertrude St Dearborn Heights, MI	3.0	1.0	1020	$1,700	$1.67	7d	1	0.31mi
4914 Gertrude St Dearborn Heights, MI	2.0	1.0	908	$1,230	$1.35	19d	1	0.34mi
3620 Monroe St Dearborn, MI	3.0	2.0	1100	$1,800	$1.64	12d	1	0.54mi
20728 Carlysle St Dearborn, MI	3.0	1.0	1087	$1,850	$1.70	0d	1	0.69mi
3901 Academy St Dearborn Heights, MI	4.0	2.0	1400	$2,100	$1.50	0d	1	0.78mi
4704 Jackson St Dearborn Heights, MI	3.0	1.0	1000	$1,500	$1.50	23d	1	0.82mi
4631 Ziegler St Dearborn Heights, MI	3.0	1.0	1050	$1,650	$1.57	45d	1	0.91mi
21337 Audette St Dearborn, MI	3.0	1.0	964	$1,850	$1.92	45d	1	1.02mi
2825 Queen St Dearborn, MI	2.0	1.0	1000	$1,299	$1.30	45d	1	1.18mi
2823 Queen St Dearborn, MI	3.0	2.0	1400	$1,599	$1.14	20d	1	1.18mi
24154 Dartmouth St Dearborn, MI	2.0	1.0	950	$1,275	$1.34	16d	1	1.24mi
5371 Culver St Dearborn Heights, MI	3.0	1.0	980	$1,500	$1.53	12d	1	1.27mi
5371 Culver St Dearborn Heights, MI	3.0	1.0	980	$1,450	$1.48	3d	1	1.27mi
2631 Woodside St Dearborn, MI	3.0	1.0	894	$1,650	$1.85	0d	1	1.37mi
24601 Andover Dr Dearborn Heights, MI	3.0	1.5	1092	$1,700	$1.56	3d	1	1.40mi
24442 Union St Dearborn, MI	3.0	1.5	1000	$1,900	$1.90	0d	1	1.42mi
24684 Lehigh St Dearborn Heights, MI	4.0	1.0	878	$1,600	$1.82	14d	1	1.45mi
4565 Fleming St Dearborn Heights, MI	3.0	1.0	1200	$1,600	$1.33	12d	1	1.46mi

Listing history 4 events

1. 2026-06-21
   days on market $159,700 Active 5 DOM
2. 2026-06-18
   days on market $159,700 Active 2 DOM
3. 2026-06-17
   remarks 539-char remark
4. 2026-06-17
   listed $159,700 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: $4,278 · $357/mo
• Projected year-2 tax: $4,278 · $357/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 2/10 Low FEMA zone X · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,989
• − Mortgage interest: −$8,946
• − Property taxes: −$4,278
• − Insurance: −$798
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$4,646
• Taxable loss: −$1,878
• Est. tax savings @ 24.0%: +$451
• After-tax cash flow: $1,115/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: Dearborn Heights School District #7
• NCES district ID: 2611610
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $47,468
• Composite: 17.21/100
• National rank: #9101
• State rank: #466 of 540 in MI

Livability — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 22,125
• Household income: $60,195
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 654.0

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 (76%)
• Race & ethnicity: White 76% Black 10% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Arab 3% Slovak 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 13% Spanish 3% Russian/Polish/Slavic 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: ▼ -214.70%
• Current HPI: 218.4698
• Rent YoY: ▲ 2.03%
• 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

+432.3% since first listed

33 events — show timeline

• 2026-06-16 Listed $159,700 REALCOMP
• 2026-06-16 Listed $159,700 MiRealSource-MiMLS
• 2024-02-26 Listing Removed — REALCOMP
• 2024-02-26 Listing Removed — MiRealSource-MiMLS
• 2024-01-24 Listing Removed — MiRealSource-MiMLS
• 2024-01-24 Listed $157,700 MiRealSource-MiMLS
• 2024-01-24 Listed $157,700 REALCOMP
• 2024-01-24 Listing Removed — REALCOMP
• 2023-12-22 Listed $157,700 MiRealSource-MiMLS
• 2023-12-22 Listed $157,700 REALCOMP
• 2020-11-11 Sold (Public Records) $115,000 Public Records
• 2020-10-30 Sold (MLS) $115,000 MiRealSource-MiMLS
• 2020-10-30 Sold (MLS) $115,000 REALCOMP
• 2020-10-21 Pending — MiRealSource-MiMLS
• 2020-10-21 Pending — REALCOMP
• 2020-10-11 Contingent — MiRealSource-MiMLS
• 2020-10-10 Contingent — REALCOMP
• 2020-09-23 Listed $119,900 MiRealSource-MiMLS
• 2020-09-23 Listed $119,900 REALCOMP
• 2017-05-04 Sold (Public Records) $57,000 Public Records
• 2017-04-20 Sold (MLS) $57,000 MiRealSource-MiMLS
• 2017-04-20 Sold (MLS) $57,000 REALCOMP
• 2017-02-24 Pending — MiRealSource-MiMLS
• 2017-02-23 Pending — REALCOMP
• 2017-01-31 Listed $69,900 MiRealSource-MiMLS
• 2017-01-30 Listed $69,900 REALCOMP
• 2011-04-14 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2011-04-14 Sold (MLS) $22,000 REALCOMP
• 2011-04-04 Listing Removed — MiRealSource-MiMLS
• 2011-02-15 Listed $22,900 MiRealSource-MiMLS
• 2011-02-15 Listed $22,900 REALCOMP
• 2010-11-17 Listing Removed — REALCOMP
• 2010-01-12 Listed $30,000 REALCOMP

Property tax history

+6.2%/yr

Latest (2025): $4,278 · +3.7% YoY. Source: county tax records.