3808 Cadieux Rd · Detroit, MI 48224

$62,500

6 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 45 Days on market

Built 1915 3,920 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Here's a clean, polished leasing/marketing description you can use. It keeps your voice - direct, clear, and focused on value - while giving the property some lift: --- * * Two-Family Home With Great Potential * * This classic two-family offers strong rental appeal and flexible living space. * * Unit 1 * * features two bedrooms, a comfortable living room, formal dining room, kitchen, and full bath. * * Unit 2 * * includes one bedroom, a full kitchen, bathroom, and a spacious great room that can serve as a living and dining area combined. Ideal for an investor, multi-generational living, or an owner-occupant looking to offset expenses. --- If you want, I can tailor this for MLS, Zillow, a flyer, or a more persuasive leasing version that highlights benefits for tenants.

Key facts

• 3,920 sq ft lot
• Built 1915
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $61k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.7% vs local median 10.2% in Detroit — 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 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; 484 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,870/mo this rent would consume 50% of the median local household income ($45k/yr) (locally 2515% 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 $432 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $62k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,625 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.99% ✓
• Cap rate: 25.73%
• Cash-on-cash: 69.42%
• DSCR: 4.09
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $163,098
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3909 Neff Ave	0.26mi	5/3.0 (-1)	1,344 (+1%)	18mo	$165,000	$123	57

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: 66.3%
• Equity multiple: 3.87×
• Total profit: $50,225
• Equity at exit: $9,319

10-year hold

• IRR: 69.8%
• Equity multiple: 7.32×
• Total profit: $110,587
• Equity at exit: $5,404

Cash invested: $17,500 (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: 484
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,870 medium
• Mortgage (P&I): −$328
• Tax from tax record: −$111 /mo · $1,330/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $1,012

Break-even live

Break-even rent $588

Max offer price $62,500

Occupancy floor 41%

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-19
   status Pending 788-char remark

   Show marketing remark (788 chars)

   Here's a clean, polished leasing/marketing description you can use. It keeps your voice - direct, clear, and focused on value - while giving the property some lift: --- * * Two-Family Home With Great Potential * * This classic two-family offers strong rental appeal and flexible living space. * * Unit 1 * * features two bedrooms, a comfortable living room, formal dining room, kitchen, and full bath. * * Unit 2 * * includes one bedroom, a full kitchen, bathroom, and a spacious great room that can serve as a living and dining area combined. Ideal for an investor, multi-generational living, or an owner-occupant looking to offset expenses. --- If you want, I can tailor this for MLS, Zillow, a flyer, or a more persuasive leasing version that highlights benefits for tenants.

2. 2026-03-19
   status Pending

   Show marketing remark (788 chars)

   Here's a clean, polished leasing/marketing description you can use. It keeps your voice - direct, clear, and focused on value - while giving the property some lift: --- * * Two-Family Home With Great Potential * * This classic two-family offers strong rental appeal and flexible living space. * * Unit 1 * * features two bedrooms, a comfortable living room, formal dining room, kitchen, and full bath. * * Unit 2 * * includes one bedroom, a full kitchen, bathroom, and a spacious great room that can serve as a living and dining area combined. Ideal for an investor, multi-generational living, or an owner-occupant looking to offset expenses. --- If you want, I can tailor this for MLS, Zillow, a flyer, or a more persuasive leasing version that highlights benefits for tenants.

3. 2026-03-11
   price $62,500 788-char remark

   Show marketing remark (788 chars)

   Here's a clean, polished leasing/marketing description you can use. It keeps your voice - direct, clear, and focused on value - while giving the property some lift: --- * * Two-Family Home With Great Potential * * This classic two-family offers strong rental appeal and flexible living space. * * Unit 1 * * features two bedrooms, a comfortable living room, formal dining room, kitchen, and full bath. * * Unit 2 * * includes one bedroom, a full kitchen, bathroom, and a spacious great room that can serve as a living and dining area combined. Ideal for an investor, multi-generational living, or an owner-occupant looking to offset expenses. --- If you want, I can tailor this for MLS, Zillow, a flyer, or a more persuasive leasing version that highlights benefits for tenants.

4. 2026-03-11
   price $62,500

   Show marketing remark (788 chars)

   Here's a clean, polished leasing/marketing description you can use. It keeps your voice - direct, clear, and focused on value - while giving the property some lift: --- * * Two-Family Home With Great Potential * * This classic two-family offers strong rental appeal and flexible living space. * * Unit 1 * * features two bedrooms, a comfortable living room, formal dining room, kitchen, and full bath. * * Unit 2 * * includes one bedroom, a full kitchen, bathroom, and a spacious great room that can serve as a living and dining area combined. Ideal for an investor, multi-generational living, or an owner-occupant looking to offset expenses. --- If you want, I can tailor this for MLS, Zillow, a flyer, or a more persuasive leasing version that highlights benefits for tenants.

5. 2026-02-03
   listed $72,500 Active
6. 2026-02-02
   listed $72,500 Active 788-char remark

   Show marketing remark (788 chars)

   Here's a clean, polished leasing/marketing description you can use. It keeps your voice - direct, clear, and focused on value - while giving the property some lift: --- * * Two-Family Home With Great Potential * * This classic two-family offers strong rental appeal and flexible living space. * * Unit 1 * * features two bedrooms, a comfortable living room, formal dining room, kitchen, and full bath. * * Unit 2 * * includes one bedroom, a full kitchen, bathroom, and a spacious great room that can serve as a living and dining area combined. Ideal for an investor, multi-generational living, or an owner-occupant looking to offset expenses. --- If you want, I can tailor this for MLS, Zillow, a flyer, or a more persuasive leasing version that highlights benefits for tenants.

7. 1992-05-27
   soldstatus $24,000
8. 1992-02-18
   soldstatus $15,500

ⓘ 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: $1,330 · $111/mo
• Projected year-2 tax: $1,330 · $111/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 · 15 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: $22,437
• − Mortgage interest: −$3,501
• − Property taxes: −$1,330
• − Insurance: −$312
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$1,818
• Taxable income: $11,885
• Est. tax owed @ 24.0%: −$2,852
• After-tax cash flow: $9,296/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

+303.2% since first listed

8 events — show timeline

• 2026-03-19 Pending — MiRealSource-MiMLS
• 2026-03-19 Pending — REALCOMP
• 2026-03-11 Price Changed $62,500 MiRealSource-MiMLS
• 2026-03-11 Price Changed $62,500 REALCOMP
• 2026-02-03 Listed $72,500 REALCOMP
• 2026-02-02 Listed $72,500 MiRealSource-MiMLS
• 1992-05-27 Sold (Public Records) $24,000 Public Records
• 1992-02-18 Sold (Public Records) $15,500 Public Records

Property tax history

-3.5%/yr

Latest (2025): $1,330 · -37.2% YoY. Source: county tax records.