4535 Cadieux # 18 and 42 · Detroit, MI 48224

$120,000

None bd · 2.0 ba · 1,926 sqft · Condo · 222 Days on market

Built 1972 Good condition

---

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 +25.2/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

Key facts

• No association fees
• Tree-lined street
• Quick access to i-94

Tags

• THREE SEPARATE UNITS
• DEDICATED PARKING SPOT
• NO ASSOCIATION FEES
• EXCELLENT INCOME POTENTIAL
• QUICK ACCESS TO I-94
• TREE-LINED STREET

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath condo listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% of the median local income ($45k/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 $830 of loan paydown is wiped out by about $4k 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

• It's been on market 222 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $90k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.16% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.84×
• Total profit: $-5,507
• Equity at exit: $17,892

10-year hold

• IRR: 2.3%
• Equity multiple: 1.15×
• Total profit: $5,048
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $267

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 76%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5050 Three Mile Dr Detroit, MI	2.0	1.0	2127	$1,150	$0.54	44d	1	0.63mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	44d	1	0.70mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.86mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.86mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	0.93mi
5944 Marseilles St Detroit, MI	3.0	1.0	1910	$1,300	$0.68	17d	1	0.94mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.96mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	0.99mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	1.19mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	4d	1	1.22mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	2d	1	1.22mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	1.22mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	1.25mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.26mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	1.36mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	1.40mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watergaselectricsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-04
   status $120,000 Pending 222 DOM
2. 2026-06-03
   days on market $120,000 Active 222 DOM
3. 2026-06-01
   days on market $120,000 Active 220 DOM
4. 2026-05-31
   days on market $120,000 Active 219 DOM
5. 2026-03-08
   status Active 1457-char remark

   Show marketing remark (1457 chars)

   Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

6. 2026-01-06
   status Pending 1457-char remark

   Show marketing remark (1457 chars)

   Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

7. 2025-12-08
   price $120,000 1457-char remark

   Show marketing remark (1457 chars)

   Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

8. 2025-10-10
   price $189,900 1457-char remark

   Show marketing remark (1457 chars)

   Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

9. 2025-09-08
   price $209,900 1457-char remark

   Show marketing remark (1457 chars)

   Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

10. 2025-08-25
    listed $210,000 Active 1457-char remark

    Show marketing remark (1457 chars)

    Welcome to 4535 Cadieux, an outstanding investment opportunity in the heart of Detroit's 48224 ZIP code. This property features two separate units, each generating monthly rental income for a total of $2,000 per month SECTION 8. Each unit includes one dedicated parking spot, providing added convenience for tenants. There are no association fees, and the owner does not pay for water or gas - tenants are responsible for managing their own electrical utility bills. This arrangement makes the property a truly hassle-free investment with excellent income potential. The neighborhood offers convenient access to local amenities, sitting just 0.3 miles from the Cadieux Café and less than a mile from Balduck Park's green spaces. Families will appreciate the proximity to Carleton Elementary School and East English Village Preparatory Academy, and grocery shopping couldn't be easier with Aldi just 0.6 miles away. Quick access to I-94 ensures easy commutes and connections throughout Detroit. Nestled on a welcoming, tree-lined street, this property provides both a peaceful atmosphere and the benefits of urban living. Enjoy the vibrant community known for its friendly neighbors and strong sense of security - an attractive feature for potential tenants and owners alike. If you are seeking a well-located multifamily property with proven income and low expenses, 4535 Cadieux is an exceptional choice. Discover how this property can work for you.

11. 2024-08-02
    historical
12. 2024-08-02
    historical
13. 2024-05-07
    price $49,900
14. 2024-05-07
    price $49,900
15. 2024-03-29
    listed $54,900 Active
16. 2024-03-29
    listed $54,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,655
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$3,491
• Taxable income: $1,378
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $2,876/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 · 13 photos

Good 75/100 Cosmetic rehab

This property is in good condition with minimal repairs needed. Painting the exterior and replacing the carpet would significantly enhance its curb appeal and resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace carpet — Fresh carpet improves comfort and resale value
• Both Upgrade kitchen appliances — Modern appliances increase appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet — Fresh carpet improves comfort and resale value ↑
• Both Upgrade kitchen appliances — Modern appliances increase appeal and rental value ↑

ⓘ 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: 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

+118.6% since first listed

12 events — show timeline

• 2026-03-08 Relisted — MiRealSource-MiMLS
• 2026-01-06 Pending — MiRealSource-MiMLS
• 2025-12-08 Price Changed $120,000 MiRealSource-MiMLS
• 2025-10-10 Price Changed $189,900 MiRealSource-MiMLS
• 2025-09-08 Price Changed $209,900 MiRealSource-MiMLS
• 2025-08-25 Listed $210,000 MiRealSource-MiMLS
• 2024-08-02 Listing Removed — MiRealSource-MiMLS
• 2024-08-02 Listing Removed — REALCOMP
• 2024-05-07 Price Changed $49,900 MiRealSource-MiMLS
• 2024-05-07 Price Changed $49,900 REALCOMP
• 2024-03-29 Listed $54,900 MiRealSource-MiMLS
• 2024-03-29 Listed $54,900 REALCOMP