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

$59,900

1 bd · 1.0 ba · 644 sqft · Condo · 121 Days on market

Built 1972 Average condition $93/sqft · 32% below area Est $89k · 32% 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 +1.3/10.0
• 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 $59,900 price doesn't fit this home's estimated sale value (~$88,657) 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 condo listed at $60k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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; 492 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $414 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 121 days — a 12% lower offer ($53k) 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 $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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: 1.82% ✓
• Cap rate: 15.25%
• Cash-on-cash: 31.99%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (median comp): $88,657
• List price: $59,900
• Delta: -32.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.4%
• Equity multiple: 1.97×
• Total profit: $16,352
• Equity at exit: $8,931

10-year hold

• IRR: 30.7%
• Equity multiple: 3.47×
• Total profit: $41,429
• Equity at exit: $5,179

Cash invested: $16,772 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,090 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $447

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 54%

Sensitivity live

Price	-10% $489	-5% $468	+0% $447	+5% $426	+10% $406
Rent	-10% $361	-5% $404	+0% $447	+5% $490	+10% $533
Rate	-1.0pp $477	-0.5pp $462	base $447	+0.5pp $432	+1.0pp $416

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4811 Cadieux Rd Unit 2 Detroit, MI	1.0	1.0	600	$950	$1.58	44d	1	0.13mi
4811 Cadieux Rd Unit 10 Detroit, MI	2.0	1.0	663	$1,200	$1.81	44d	1	0.13mi
4811 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	663	$1,200	$1.81	22d	1	0.13mi
4837 Cadieux Rd Unit 9 Detroit, MI	2.0	1.0	650	$1,200	$1.85	44d	1	0.15mi
4865 Cadieux Rd Unit 11 Detroit, MI	2.0	1.0	630	$1,200	$1.90	44d	1	0.17mi
17161 Denver St Detroit, MI	1.0	1.0	700	$800	$1.14	13d	1	0.49mi
17161 Denver St Apt 10 Detroit, MI	1.0	1.0	700	$800	$1.14	11d	1	0.49mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	15d	1	0.64mi
5284 Devonshire Rd Unit 2 Detroit, MI	1.0	1.0	750	$1,050	$1.40	15d	1	0.80mi
5284 Devonshire Rd Detroit, MI	2.0	1.0	650	$1,050	$1.62	25d	1	0.80mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	44d	1	1.09mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	4d	1	1.50mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-21
   days on market $59,900 Active 121 DOM
2. 2026-06-18
   days on market $59,900 Active 118 DOM
3. 2026-06-17
   days on market $59,900 Active 117 DOM
4. 2026-06-15
   days on market $59,900 Active 115 DOM
5. 2026-06-13
   days on market $59,900 Active 113 DOM
6. 2026-06-13
   days on market $59,900 Active 112 DOM
7. 2026-06-09
   days on market $59,900 Active 109 DOM
8. 2026-06-08
   days on market $59,900 Active 108 DOM
9. 2026-06-07
   days on market $59,900 Active 107 DOM
10. 2026-06-04
    days on market $59,900 Active 104 DOM
11. 2026-06-03
    days on market $59,900 Active 103 DOM
12. 2026-06-01
    days on market $59,900 Active 101 DOM
13. 2026-05-31
    days on market $59,900 Active 100 DOM
14. 2026-02-26
    status Active 1585-char remark

    Show marketing remark (1591 chars)

    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.

15. 2026-02-26
    status Active 1591-char remark

    Show marketing remark (1591 chars)

    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.

16. 2026-01-09
    status Pending 1585-char remark

    Show marketing remark (1591 chars)

    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.

17. 2026-01-09
    status Pending 1591-char remark

    Show marketing remark (1591 chars)

    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.

18. 2026-01-03
    listed $59,900 Active 1585-char remark

    Show marketing remark (1591 chars)

    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.

19. 2026-01-03
    listed $59,900 Active 1591-char remark

    Show marketing remark (1591 chars)

    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.

ⓘ 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: $13,079
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$1,743
• Taxable income: $4,691
• Est. tax owed @ 24.0%: −$1,126
• After-tax cash flow: $4,239/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Older cabinets need updating	Moderate	$3,000–15,000
kitchen countertops · Dated countertops need replacement	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

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

+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