3825 Waverly St · Detroit, MI 48238

$159,900

6 bd · 2.5 ba · 2,656 sqft · Townhouse public records · 9 Days on market

Built 1929 3,485 sqft lot Est $165k · at est.

---

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 +11.0/30.0
• ARV discount +8.9/15.0
• 1% rule +5.5/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into a prime Detroit investment, a handsome multi-family home in the heart of Russell Woods. Inside the 2,656 sq ft footprint, you'll discover six well-sized bedrooms and three full bathrooms spread across multiple units. Built in 1929, this brick property retains classic presence while enjoying thoughtful updates. Each unit is accessed separately (buyer to verify), offering flexibility for tenants or an owner-occupant scenario. The deep backyard, generous lot, and flexible parking options provide outdoor potential or future expansion space. Located right across from a park and just 200 feet from a major bus line, convenience is built in. Whether you're seeking consistent cash flow or scaling your multi-family portfolio, this property balances strong bones, modern touches, and location upside. Schedule a showing today!

Key facts

• Generous lot
• Across from a park
• Multi-family home

Tags

• MULTI-FAMILY HOME
• DEEP BACKYARD
• GENEROUS LOT
• FLEXIBLE PARKING OPTIONS
• ACROSS FROM A PARK
• MAJOR BUS LINE

Property features AI

Finance

• Financial info: Income property (multi-family)

Exterior

• Parking: 4 parking spaces; Other parking features
• Utilities: Public water; Public sewer / sewer connected; Electricity connected
• Home design: Residential income property (multi-family)
• Construction: Brick construction; Other foundation type
• Exterior features: Paved road access; Other-style roof

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Bathrooms: Unit 1: 2 bathrooms; Unit 2: 1 bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Laundry located in the basement
• Laundry & utility: Basement laundry

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $-67 ($-809/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (7.4% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $148k (7.4% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 rising fast (+6.1%/yr); 346 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,676/mo this rent would consume 60% of the median local household income ($33k/yr) (locally 2172% 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 $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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 10y ago; this cycle's ask is 14436% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,997 (7.4% 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. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.05% ✓
• Cap rate: 5.79%
• Cash-on-cash: -1.81%
• DSCR: 0.92
• GRM: 7.9

CMA / ARV

• ARV (median comp): $164,863
• List price: $159,900
• Delta: -3.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.45×
• Total profit: $-24,538
• Equity at exit: $23,842

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-2,164
• Equity at exit: $13,825

Cash invested: $44,772 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$487 /mo · $5,839/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-67

Break-even live

Break-even rent $1,762

Max offer price $147,997

Occupancy floor 99%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	0.48mi

Listing history 50 events

1. 2026-05-18
   historical $1,100

   Show marketing remark (835 chars)

   Step into a prime Detroit investment, a handsome multi-family home in the heart of Russell Woods. Inside the 2,656 sq ft footprint, you'll discover six well-sized bedrooms and three full bathrooms spread across multiple units. Built in 1929, this brick property retains classic presence while enjoying thoughtful updates. Each unit is accessed separately (buyer to verify), offering flexibility for tenants or an owner-occupant scenario. The deep backyard, generous lot, and flexible parking options provide outdoor potential or future expansion space. Located right across from a park and just 200 feet from a major bus line, convenience is built in. Whether you're seeking consistent cash flow or scaling your multi-family portfolio, this property balances strong bones, modern touches, and location upside. Schedule a showing today!

2. 2026-05-18
   status Pending 835-char remark

   Show marketing remark (835 chars)

   Step into a prime Detroit investment, a handsome multi-family home in the heart of Russell Woods. Inside the 2,656 sq ft footprint, you'll discover six well-sized bedrooms and three full bathrooms spread across multiple units. Built in 1929, this brick property retains classic presence while enjoying thoughtful updates. Each unit is accessed separately (buyer to verify), offering flexibility for tenants or an owner-occupant scenario. The deep backyard, generous lot, and flexible parking options provide outdoor potential or future expansion space. Located right across from a park and just 200 feet from a major bus line, convenience is built in. Whether you're seeking consistent cash flow or scaling your multi-family portfolio, this property balances strong bones, modern touches, and location upside. Schedule a showing today!

3. 2026-05-18
   status Pending 835-char remark

   Show marketing remark (835 chars)

   Step into a prime Detroit investment, a handsome multi-family home in the heart of Russell Woods. Inside the 2,656 sq ft footprint, you'll discover six well-sized bedrooms and three full bathrooms spread across multiple units. Built in 1929, this brick property retains classic presence while enjoying thoughtful updates. Each unit is accessed separately (buyer to verify), offering flexibility for tenants or an owner-occupant scenario. The deep backyard, generous lot, and flexible parking options provide outdoor potential or future expansion space. Located right across from a park and just 200 feet from a major bus line, convenience is built in. Whether you're seeking consistent cash flow or scaling your multi-family portfolio, this property balances strong bones, modern touches, and location upside. Schedule a showing today!

4. 2026-05-12
   listed $1,100
5. 2026-05-09
   listed $159,900 Active 835-char remark

   Show marketing remark (835 chars)

   Step into a prime Detroit investment, a handsome multi-family home in the heart of Russell Woods. Inside the 2,656 sq ft footprint, you'll discover six well-sized bedrooms and three full bathrooms spread across multiple units. Built in 1929, this brick property retains classic presence while enjoying thoughtful updates. Each unit is accessed separately (buyer to verify), offering flexibility for tenants or an owner-occupant scenario. The deep backyard, generous lot, and flexible parking options provide outdoor potential or future expansion space. Located right across from a park and just 200 feet from a major bus line, convenience is built in. Whether you're seeking consistent cash flow or scaling your multi-family portfolio, this property balances strong bones, modern touches, and location upside. Schedule a showing today!

6. 2026-05-09
   listed $159,900 Active 835-char remark

   Show marketing remark (835 chars)

   Step into a prime Detroit investment, a handsome multi-family home in the heart of Russell Woods. Inside the 2,656 sq ft footprint, you'll discover six well-sized bedrooms and three full bathrooms spread across multiple units. Built in 1929, this brick property retains classic presence while enjoying thoughtful updates. Each unit is accessed separately (buyer to verify), offering flexibility for tenants or an owner-occupant scenario. The deep backyard, generous lot, and flexible parking options provide outdoor potential or future expansion space. Located right across from a park and just 200 feet from a major bus line, convenience is built in. Whether you're seeking consistent cash flow or scaling your multi-family portfolio, this property balances strong bones, modern touches, and location upside. Schedule a showing today!

7. 2026-05-07
   historical
8. 2025-12-11
   listed $165,000 Active
9. 2025-12-11
   listed $165,000 Active
10. 2025-12-02
    historical
11. 2025-12-01
    historical
12. 2025-11-25
    price $165,000
13. 2025-11-24
    price $165,000
14. 2025-10-01
    listed $175,000 Active
15. 2025-10-01
    listed $175,000 Active
16. 2025-04-29
    historical
17. 2025-04-29
    historical
18. 2025-04-27
    price $143,900
19. 2025-04-27
    price $143,900
20. 2025-02-12
    price $154,000
21. 2025-02-11
    price $154,000
22. 2024-12-03
    listed $165,000 Active
23. 2024-12-01
    listed $165,000 Active
24. 2023-12-19
    soldstatus $145,000
25. 2023-05-09
    soldstatus $100,000
26. 2023-05-05
    soldstatus $100,000 Sold
27. 2023-05-05
    soldstatus $100,000 Closed
28. 2023-04-22
    status Pending
29. 2023-04-22
    status Pending
30. 2023-04-13
    price $99,000
31. 2023-04-13
    price $99,000
32. 2023-04-11
    status Active
33. 2023-04-11
    status Active
34. 2023-04-05
    status Pending
35. 2023-04-05
    status Pending
36. 2023-03-30
    listed $105,000 Active
37. 2023-03-27
    listed $105,000 Active
38. 2017-11-09
    soldstatus $65,000
39. 2017-10-30
    soldstatus $21,000 Sold
40. 2017-10-30
    soldstatus $21,000 Closed
41. 2017-10-18
    status Pending
42. 2017-10-18
    status Pending
43. 2017-10-05
    price $24,800
44. 2017-10-05
    price $24,800
45. 2017-10-04
    listed $34,800 Active
46. 2017-10-04
    listed $34,800 Active
47. 2017-03-01
    historical
48. 2017-03-01
    historical
49. 2017-01-26
    price $9,900
50. 2017-01-25
    price $9,900

ⓘ 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: $5,839 · $487/mo
• Projected year-2 tax: $5,839 · $487/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,117
• − Mortgage interest: −$8,957
• − Property taxes: −$5,839
• − Insurance: −$800
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$4,652
• Taxable loss: −$3,349
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $-5/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-98.7% since first listed

53 events — show timeline

• 2026-05-18 Rental Removed $1,100 REALCOMP
• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-05-12 Listed for Rent $1,100 REALCOMP
• 2026-05-09 Listed $159,900 REALCOMP
• 2026-05-09 Listed $159,900 MiRealSource-MiMLS
• 2026-05-07 Listing Removed — MiRealSource-MiMLS
• 2025-12-11 Listed $165,000 REALCOMP
• 2025-12-11 Listed $165,000 MiRealSource-MiMLS
• 2025-12-02 Listing Removed — MiRealSource-MiMLS
• 2025-12-01 Listing Removed — REALCOMP
• 2025-11-25 Price Changed $165,000 MiRealSource-MiMLS
• 2025-11-24 Price Changed $165,000 REALCOMP
• 2025-10-01 Listed $175,000 REALCOMP
• 2025-10-01 Listed $175,000 MiRealSource-MiMLS
• 2025-04-29 Listing Removed — MiRealSource-MiMLS
• 2025-04-29 Listing Removed — REALCOMP
• 2025-04-27 Price Changed $143,900 MiRealSource-MiMLS
• 2025-04-27 Price Changed $143,900 REALCOMP
• 2025-02-12 Price Changed $154,000 MiRealSource-MiMLS
• 2025-02-11 Price Changed $154,000 REALCOMP
• 2024-12-03 Listed $165,000 REALCOMP
• 2024-12-01 Listed $165,000 MiRealSource-MiMLS
• 2023-12-19 Sold (Public Records) $145,000 Public Records
• 2023-05-09 Sold (Public Records) $100,000 Public Records
• 2023-05-05 Sold (MLS) $100,000 MiRealSource-MiMLS
• 2023-05-05 Sold (MLS) $100,000 REALCOMP
• 2023-04-22 Pending — MiRealSource-MiMLS
• 2023-04-22 Pending — REALCOMP
• 2023-04-13 Price Changed $99,000 MiRealSource-MiMLS
• 2023-04-13 Price Changed $99,000 REALCOMP
• 2023-04-11 Relisted — MiRealSource-MiMLS
• 2023-04-11 Relisted — REALCOMP
• 2023-04-05 Pending — MiRealSource-MiMLS
• 2023-04-05 Pending — REALCOMP
• 2023-03-30 Listed $105,000 REALCOMP
• 2023-03-27 Listed $105,000 MiRealSource-MiMLS
• 2017-11-09 Sold (Public Records) $65,000 Public Records
• 2017-10-30 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2017-10-30 Sold (MLS) $21,000 REALCOMP
• 2017-10-18 Pending — MiRealSource-MiMLS
• 2017-10-18 Pending — REALCOMP
• 2017-10-05 Price Changed $24,800 MiRealSource-MiMLS
• 2017-10-05 Price Changed $24,800 REALCOMP
• 2017-10-04 Listed $34,800 MiRealSource-MiMLS
• 2017-10-04 Listed $34,800 REALCOMP
• 2017-03-01 Listing Removed — MiRealSource-MiMLS
• 2017-03-01 Listing Removed — REALCOMP
• 2017-01-26 Price Changed $9,900 MiRealSource-MiMLS
• 2017-01-25 Price Changed $9,900 REALCOMP
• 2016-08-30 Listed $14,900 MiRealSource-MiMLS
• 2016-08-30 Listed $14,900 REALCOMP
• 2002-11-26 Sold (Public Records) $85,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $5,839 · +0.1% YoY. Source: county tax records.