1815 5th St · Wyandotte, MI 48192

$155,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 189 Days on market

Built 1906 6,098 sqft lot Est $174k · 11% under ↓ 16% since listing

---

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 +17.0/30.0
• ARV discount +12.5/15.0
• DSCR +5.3/10.0
• Rent growth +4.5/5.0
• Livability +4.4/5.0
• 1% rule +4.2/10.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

Key facts

• Extra parking
• Newer roof
• Double lot

Tags

• DOUBLE LOT
• TWO CAR GARAGE
• EXTRA PARKING
• CLOSE TO DOWNTOWN WYANDOTTE
• NEWER ROOF
• NEWER FURNACE AND AC

Property features AI

Exterior

• Parking: Detached 2-car garage; Alley access
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry; Aluminum siding
• Construction: Asphalt roof; Block foundation; Built with aluminum siding
• Exterior features: Paved road access; No pool

Interior

• Kitchen: Dishwasher; Free-standing electric oven; Microwave; Free-standing freezer
• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Gas water heater; Trash compactor; Partially finished full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (8.1% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.92% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $174,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1737 Cora St	0.32mi	3/1.0	936 (-4%)	5mo	$143,000	$153	74
2096 Electric St	0.47mi	3/1.0	1,000 (+2%)	6mo	$130,000	$130	70
1248 Electric St	0.55mi	3/1.0	1,008 (+3%)	6mo	$179,900	$178	64
1477 13th St	0.65mi	3/1.0	985 (+0%)	8mo	$189,500	$192	62
2232 9th St	0.47mi	2/1.0 (-1)	920 (-6%)	2mo	$177,500	$193	62
1092 Poplar Ct	0.74mi	3/1.0	981 (+0%)	9mo	$165,000	$168	58
1429 12th St	0.62mi	3/2.0	1,048 (+7%)	0mo	$194,000	$185	55
940 Cora St	0.67mi	3/2.0	970 (-1%)	10mo	$123,500	$127	55
1072 11th St	0.72mi	3/1.5	1,062 (+8%)	1mo	$218,000	$205	50
1114 2nd St	0.50mi	2/1.0 (-1)	864 (-12%)	2mo	$175,000	$203	50
134 Perry Pl	0.72mi	2/1.0 (-1)	888 (-9%)	9mo	$70,000	$79	38
870 4th St	0.66mi	2/2.0 (-1)	836 (-15%)	5mo	$110,000	$132	32

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: -6.6%
• Equity multiple: 0.74×
• Total profit: $-11,137
• Equity at exit: $23,111

10-year hold

• IRR: 8.0%
• Equity multiple: 1.74×
• Total profit: $32,027
• Equity at exit: $13,402

Cash invested: $43,400 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$813
• Tax from tax record: −$143 /mo · $1,715/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $105

Break-even live

Break-even rent $1,292

Max offer price $155,000

Occupancy floor 88%

Sensitivity live

Price	-10% $193	-5% $149	+0% $105	+5% $61	+10% $17
Rent	-10% $-8	-5% $49	+0% $105	+5% $161	+10% $217
Rate	-1.0pp $183	-0.5pp $144	base $105	+0.5pp $65	+1.0pp $24

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1159 McKinley St Wyandotte, MI	3.0	1.0	1050	$1,350	$1.29	2d	1	0.46mi
82 Poplar St Apt 2 Wyandotte, MI	2.0	1.0	900	$1,295	$1.44	44d	1	0.54mi
2700 6th St Wyandotte, MI	1.0–2.0	1.0	900	$1,095	$1.22	44d	2	0.64mi
20 Chestnut St Unit 1003-4 Wyandotte, MI	2.0	2.0	1100	$1,990	$1.81	44d	1	0.78mi
850 Biddle Ave Unit 2 Wyandotte, MI	2.0	1.0	800	$1,300	$1.62	5d	1	0.78mi
1163 17th St Wyandotte, MI	3.0	1.0	1010	$1,695	$1.68	44d	1	0.93mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	24d	1	0.94mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	3d	1	0.94mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	3d	1	0.96mi
170 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,399	$1.30	3d	1	0.96mi
168 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,295	$1.20	5d	1	0.96mi
146 Bondie St Wyandotte, MI	2.0	1.0	820	$1,650	$2.01	2d	1	0.97mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	5d	1	0.98mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	24d	1	1.00mi
1650 19th St Wyandotte, MI	3.0	2.0	1100	$1,899	$1.73	18d	1	1.01mi
177 N Riverbank St Wyandotte, MI	2.0	1.0	671	$1,600	$2.38	2d	1	1.09mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	18d	1	1.15mi
1130 21st St Wyandotte, MI	3.0	1.0	864	$1,420	$1.64	2d	1	1.18mi
667 Pine St Unit 1 Wyandotte, MI	3.0	1.0	1000	$1,500	$1.50	2d	1	1.22mi
667 Pine St Unit 2 Wyandotte, MI	2.0	1.0	800	$1,400	$1.75	2d	1	1.22mi
1024 Adelaide St Wyandotte, MI	2.0	1.0	800	$3,100	$3.88	2d	1	1.29mi
1569 Sycamore St Wyandotte, MI	3.0	1.0	944	$1,695	$1.80	44d	1	1.31mi
13020 Pullman St Southgate, MI	4.0	1.0	1050	$1,550	$1.48	3d	1	1.48mi

Listing history 11 events

1. 2026-05-05
   status Pending 347-char remark

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

2. 2026-05-05
   status Pending

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

3. 2026-04-27
   status Accepting Backup Offers 347-char remark

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

4. 2026-04-27
   status Active Under Contract

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

5. 2026-04-23
   historical 347-char remark

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

6. 2026-03-18
   price $155,000 347-char remark

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

7. 2026-03-17
   price $155,000
8. 2025-11-26
   price $160,000 347-char remark

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

9. 2025-11-26
   price $160,000

   Show marketing remark (347 chars)

   Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

10. 2025-10-24
    listed $185,000 Active 347-char remark

    Show marketing remark (347 chars)

    Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

11. 2025-10-24
    listed $185,000 Active

    Show marketing remark (347 chars)

    Charming and cute 3 bedroom home situated on a double lot with nice two car garage. Extra parking in the back gets those cars off of the street as well. Located close to Downtown Wyandotte where bountiful shopping and dining exist. Roof-2014, furnace and AC-2011 are newer all that is left is your own personal touches. Come see this gem today!!!!

ⓘ 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: $1,715 · $143/mo
• Projected year-2 tax: $2,051 · $171/mo
• Expected delta: +$336/yr (+$28/mo · 19.6%)

ⓘ 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 2/10 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,093
• − Mortgage interest: −$8,682
• − Property taxes: −$1,715
• − Insurance: −$775
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$4,509
• Taxable loss: −$1,324
• Est. tax savings @ 24.0%: +$318
• After-tax cash flow: $1,577/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

-16.2% since first listed

11 events — show timeline

• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-05 Pending — REALCOMP
• 2026-04-27 Relisted — MiRealSource-MiMLS
• 2026-04-27 Relisted — REALCOMP
• 2026-04-23 Listing Removed — MiRealSource-MiMLS
• 2026-03-18 Price Changed $155,000 MiRealSource-MiMLS
• 2026-03-17 Price Changed $155,000 REALCOMP
• 2025-11-26 Price Changed $160,000 MiRealSource-MiMLS
• 2025-11-26 Price Changed $160,000 REALCOMP
• 2025-10-24 Listed $185,000 REALCOMP
• 2025-10-24 Listed $185,000 MiRealSource-MiMLS

Property tax history

+0.6%/yr

Latest (2025): $1,715 · -15.4% YoY. Source: county tax records.