4535 Cadieux Rd Unit 42 / 210 · Detroit, MI 48224

$59,000

1 bd · 1.0 ba · 644 sqft · Townhouse · 261 Days on market

Built 1972 Average condition $92/sqft · 35% below area Est $90k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Rent growth +2.7/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Currently leased to a Section 8 tenant at $1,000 per month, this newly updated one-bedroom condo offers impressive savings on energy costs and a smart, space-efficient layout. This is a fantastic investment opportunity with income in place, or a future home that balances comfort and convenience in a well-established Detroit neighborhood. This apartment features a thoughtfully designed floor plan that maximizes both living space and natural light, creating an airy and inviting atmosphere. The recent updates ensure a modern feel throughout, with low-maintenance finishes and an efficient kitchen designed for daily living. Large windows brighten the living areas and bedroom, contributing to energy savings and a cheerful interior. The co-op structure provides notable cost advantages, with lower utility expenses and access to shared amenities that support an affordable lifestyle. Enjoy off-street parking and well-kept outdoor spaces, perfect for relaxation or gathering with guests. The grounds are attractively landscaped, enhancing the overall sense of home. You'll appreciate proximity to local highlights such as Cadieux Cafe, St. John Hospital and Medical Center, and Balduck Park. Everyday shopping and dining options are also within easy reach. Major roads and public services are close by, offering simple travel throughout Detroit and the surrounding areas. This property is tenant-occupied; please do not disturb the current resident. For more details on this turnkey, income-producing property or to coordinate a showing, please contact your real estate agent today.

Key facts

• Large windows
• Natural light
• Efficient kitchen

Tags

• SPACE-EFFICIENT LAYOUT
• INVESTMENT OPPORTUNITY
• NATURAL LIGHT
• LOW-MAINTENANCE FINISHES
• EFFICIENT KITCHEN
• LARGE WINDOWS

🏷️ Possibly a rental listed for sale. The $59,000 price doesn't fit this home's estimated sale value (~$90,327) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $59k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 9.8% 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: 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.
• Zoned schools: Marquette Elementarymiddle School (514 students, 94% FRL); East English Village Preparatory Academy At Finney (math 10% / reading 10%, grade F, #659 of 713 statewide, top 97%, 697 students, 85% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents flat; 529 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 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 $408 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 261 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. 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 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. 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.
8. 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.
9. 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: 1.79% ✓
• Cap rate: 14.94%
• Cash-on-cash: 30.87%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $90,327
• List price: $59,000
• Delta: -34.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4535 Cadieux # 18/103 Rd	0.00mi	1/1.0	642 (-0%)	5mo	$55,000	$86	95
17131 E Denver St #10	0.47mi	1/1.0	600 (-7%)	18mo	$17,000	$28	52
17560 Mack Ave #10	0.55mi	1/1.0	736 (+14%)	1mo	$109,000	$148	50
17560 Mack Ave	0.55mi	1/1.0	736 (+14%)	1mo	$109,000	$148	50
17131 Denver St #14	0.47mi	1/1.0	600 (-7%)	21mo	$18,000	$30	49

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: 23.0%
• Equity multiple: 1.92×
• Total profit: $15,172
• Equity at exit: $8,797

10-year hold

• IRR: 29.5%
• Equity multiple: 3.35×
• Total profit: $38,903
• Equity at exit: $5,101

Cash invested: $16,520 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 3 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48224

• Rents YoY: 0.7%
• Active inventory: 529
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,054 high
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $425

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 55%

Sensitivity live

Price	-10% $466	-5% $445	+0% $425	+5% $405	+10% $384
Rent	-10% $342	-5% $383	+0% $425	+5% $467	+10% $508
Rate	-1.0pp $455	-0.5pp $440	base $425	+0.5pp $410	+1.0pp $394

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: $14,750
• Closing costs: $1,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4811 Cadieux Rd Apt 9 Detroit, MI	1.0	1.0	600	$950	$1.58	2d	1	0.13mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	10d	1	0.13mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	184d	1	0.13mi
4811 Cadieux Rd Unit 2 Detroit, MI	1.0	1.0	600	$950	$1.58	184d	1	0.13mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	10d	1	0.15mi
4865 Cadieux Rd Unit 3 Detroit, MI	2.0	1.0	750	$1,200	$1.60	10d	1	0.16mi
4865 Cadieux Rd Unit 9 Detroit, MI	1.0	1.0	600	$950	$1.58	10d	1	0.16mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	184d	1	0.17mi
4830 Grayton St Unit 2N Detroit, MI	1.0	1.0	600	$795	$1.32	10d	1	0.18mi
5217 Neff Ave Detroit, MI	2.0	1.0	720	$1,050	$1.46	10d	1	0.48mi
17161 Denver St Detroit, MI	1.0	1.0	700	$800	$1.14	153d	1	0.49mi
17161 Denver St Apt 10 Detroit, MI	1.0	1.0	700	$800	$1.14	151d	1	0.49mi
5251 Neff Ave Detroit, MI	2.0	1.0	720	$1,200	$1.67	88d	1	0.50mi
3500 Bluehill St Unit 204 Detroit, MI	1.0	1.0	750	$1,000	$1.33	1d	1	0.53mi
3500 Bluehill St Unit 204 Detroit, MI	1.0	1.0	750	$1,000	$1.33	88d	1	0.53mi
3500 Bluehill St Apt 107 Detroit, MI	1.0	1.0	600	$900	$1.50	139d	1	0.53mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$995	$1.66	0d	1	0.64mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	165d	1	0.80mi
5284 Devonshire Rd Unit 2 Detroit, MI	1.0	1.0	750	$1,050	$1.40	155d	1	0.80mi
5745 Radnor St Detroit, MI	2.0	1.5	700	$1,400	$2.00	10d	1	0.92mi
5759 Radnor St Detroit, MI	1.0	1.0	600	$1,250	$2.08	10d	1	0.93mi
5235 Chatsworth St Unit 5237 Detroit, MI	1.0	1.0	700	$850	$1.21	63d	1	0.99mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	10d	1	1.09mi
9180 Whittier Ave Apt 5 Detroit, MI	1.0	1.0	575	$700	$1.22	3d	1	1.12mi
15811 Harper Ave Unit 07 Detroit, MI	1.0	1.0	427	$675	$1.58	69d	1	1.20mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	144d	1	1.50mi

Listing history 50 events

1. 2026-11-08
   days on market $59,000 Active 261 DOM
2. 2026-11-07
   days on market $59,000 Active 260 DOM
3. 2026-11-06
   days on market $59,000 Active 259 DOM
4. 2026-11-05
   days on market $59,000 Active 258 DOM
5. 2026-11-04
   days on market $59,000 Active 257 DOM
6. 2026-11-02
   days on market $59,000 Active 255 DOM
7. 2026-11-01
   days on market $59,000 Active 254 DOM
8. 2026-10-31
   days on market $59,000 Active 253 DOM
9. 2026-10-30
   days on market $59,000 Active 252 DOM
10. 2026-10-29
    days on market $59,000 Active 251 DOM
11. 2026-10-28
    days on market $59,000 Active 250 DOM
12. 2026-10-27
    days on marketlisting id $59,000 Active 249 DOM
13. 2026-10-26
    days on market $59,000 Active 248 DOM
14. 2026-10-25
    days on market $59,000 Active 247 DOM
15. 2026-10-24
    days on market $59,000 Active 246 DOM
16. 2026-10-23
    days on market $59,000 Active 245 DOM
17. 2026-10-22
    days on market $59,000 Active 244 DOM
18. 2026-10-21
    days on market $59,000 Active 243 DOM
19. 2026-10-20
    days on market $59,000 Active 242 DOM
20. 2026-10-19
    days on market $59,000 Active 241 DOM
21. 2026-10-18
    days on market $59,000 Active 240 DOM
22. 2026-10-17
    days on market $59,000 Active 239 DOM
23. 2026-10-16
    days on market $59,000 Active 238 DOM
24. 2026-10-15
    pricedays on market $59,000 Active 237 DOM
25. 2026-10-14
    days on market $59,900 Active 236 DOM
26. 2026-10-13
    days on market $59,900 Active 235 DOM
27. 2026-10-12
    days on market $59,900 Active 234 DOM
28. 2026-10-11
    days on market $59,900 Active 233 DOM
29. 2026-10-10
    days on market $59,900 Active 232 DOM
30. 2026-10-09
    days on market $59,900 Active 231 DOM
31. 2026-10-08
    days on market $59,900 Active 230 DOM
32. 2026-10-07
    days on market $59,900 Active 229 DOM
33. 2026-10-06
    days on market $59,900 Active 228 DOM
34. 2026-10-05
    days on market $59,900 Active 227 DOM
35. 2026-10-04
    days on market $59,900 Active 226 DOM
36. 2026-10-04
    days on market $59,900 Active 225 DOM
37. 2026-10-02
    days on market $59,900 Active 224 DOM
38. 2026-10-01
    days on market $59,900 Active 223 DOM
39. 2026-09-30
    days on market $59,900 Active 222 DOM
40. 2026-09-29
    days on market $59,900 Active 221 DOM
41. 2026-09-28
    days on market $59,900 Active 220 DOM
42. 2026-09-27
    days on market $59,900 Active 219 DOM
43. 2026-09-25
    days on market $59,900 Active 217 DOM
44. 2026-09-24
    days on market $59,900 Active 216 DOM
45. 2026-09-23
    days on market $59,900 Active 215 DOM
46. 2026-09-22
    days on market $59,900 Active 214 DOM
47. 2026-09-21
    days on market $59,900 Active 213 DOM
48. 2026-09-20
    days on market $59,900 Active 212 DOM
49. 2026-09-19
    days on market $59,900 Active 211 DOM
50. 2026-09-18
    days on market $59,900 Active 210 DOM

ⓘ 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: $12,650
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$1,716
• Taxable income: $4,425
• Est. tax owed @ 24.0%: −$1,062
• After-tax cash flow: $4,039/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 · 12 photos

Average 55/100 Cosmetic rehab Est. rehab $3,220–$9,660 screening

This one-bedroom condo is currently leased and offers a good investment opportunity with a thoughtfully designed floor plan. It needs some cosmetic updates, particularly in the kitchen, to increase its value.

Repairs flagged

• Moderate kitchen cabinets — Older cabinets need updating
• Moderate kitchen countertops — Dated countertops need replacement

Value-add opportunities

• Both New kitchen cabinets and countertops — Improves both resale and rental value ↑
• Both Landscaping and curb appeal — Enhances curb appeal and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 10/100

Zoned Schools

Elementary Marquette Elementarymiddle School High East English Village Preparatory Academy At Finney F MI #659/713 Nat'l #15,975/17,239

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

B Composite livability gradescore 73/100

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 · 1,675,273 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: 9% of renters

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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%

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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%
• Languages at home: 97% English-only · Spanish 2%

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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

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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

+0.0% since first listed

6 events — show timeline

• 2026-02-26 Relisted — MiRealSource-MiMLS
• 2026-02-26 Relisted — REALCOMP
• 2026-01-09 Pending — MiRealSource-MiMLS
• 2026-01-09 Pending — REALCOMP
• 2026-01-03 Listed $59,900 REALCOMP
• 2026-01-03 Listed $59,900 MiRealSource-MiMLS