14295 Wade St · Detroit, MI 48213

$50,000

3 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 21 Days on market

Built 1938 3,920 sqft lot Est $74k · 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
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brick Bungalow located near major roads, schools and restaurants. This home features some updates throughout, full bathroom, full unfinished basement.

Key facts

• Brick bungalow
• Full bathroom
• 3,920 sq ft lot

Tags

• BRICK BUNGALOW
• FULL BATHROOM
• FULL UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 110)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full, unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 10.0% 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: 192 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $1,328/mo this rent would consume 47% of the median local household income ($34k/yr) (locally 1202% 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 $346 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 + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 26y ago; this cycle's ask is 4067% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.66% ✓
• Cap rate: 20.08%
• Cash-on-cash: 49.22%
• DSCR: 3.19
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $73,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9768 Manistique St	0.38mi	3/1.0	986 (-4%)	0mo	$35,000	$35	76
9204 Wayburn St	0.44mi	4/1.0 (+1)	1,045 (+2%)	4mo	$80,000	$77	68
10904 N Mogul St	0.70mi	3/1.0	1,045 (+2%)	0mo	$113,000	$108	64
13136 Maiden St	0.27mi	4/1.0 (+1)	1,144 (+12%)	1mo	$10,000	$9	62
12561 Maiden St	0.65mi	3/1.0	963 (-6%)	1mo	$69,690	$72	59
5818 Beaconsfield St	0.73mi	3/1.5	1,038 (+2%)	3mo	$60,000	$58	59
9509 Lakepointe St	0.50mi	3/1.0	1,112 (+9%)	4mo	$109,000	$98	59
10696 Stratman St	0.73mi	3/1.5	1,000 (-2%)	3mo	$53,000	$53	58
9500 Lakepointe St	0.53mi	3/1.0	1,130 (+11%)	0mo	$125,000	$111	58
14750 Lannette St	0.67mi	3/1.0	1,099 (+8%)	3mo	$78,000	$71	54
10058 Greensboro St	0.69mi	3/1.0	928 (-9%)	3mo	$40,000	$43	50
5777 Lakepointe St	0.66mi	4/2.5 (+1)	1,075 (+5%)	2mo	$174,999	$163	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 3.04×
• Total profit: $28,572
• Equity at exit: $7,455

10-year hold

• IRR: 52.7%
• Equity multiple: 6.17×
• Total profit: $72,381
• Equity at exit: $4,323

Cash invested: $14,000 (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 48213

• Active inventory: 192
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$262
• Tax from tax record: −$192 /mo · $2,306/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $574

Break-even live

Break-even rent $602

Max offer price $50,000

Occupancy floor 52%

Sensitivity live

Price	-10% $739	-5% $588	+0% $574	+5% $560	+10% $546
Rent	-10% $469	-5% $522	+0% $574	+5% $627	+10% $679
Rate	-1.0pp $599	-0.5pp $587	base $574	+0.5pp $561	+1.0pp $548

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	16d	1	0.21mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	45d	1	0.25mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.31mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	0.43mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.45mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.47mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	5d	1	0.48mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	0.52mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	0.64mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	19d	1	0.65mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.69mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	0.69mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	0.70mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	45d	1	0.71mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	19d	1	0.75mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	45d	1	0.76mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	45d	1	0.78mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	45d	1	0.78mi
5911 Somerset Ave Detroit, MI	3.0	1.0	1200	$1,350	$1.12	0d	1	0.80mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,225	$1.11	0d	1	0.81mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	12d	1	0.82mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	45d	1	0.88mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	0.92mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	0.98mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	1.04mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	1.08mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	45d	1	1.09mi
5856 Barrett St Unit 1 Detroit, MI	3.0	1.0	1070	$1,000	$0.93	0d	1	1.09mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	6d	1	1.12mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.13mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	5d	1	1.17mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	1.18mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	45d	1	1.20mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	1.22mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	1.22mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	1.24mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	45d	1	1.30mi
15238 Seymour St Detroit, MI	3.0	1.0	1064	$1,300	$1.22	0d	1	1.32mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.38mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	16d	1	1.40mi

Listing history 13 events

1. 2026-06-21
   days on market $50,000 Active 21 DOM
2. 2026-06-18
   days on market $50,000 Active 18 DOM
3. 2026-06-17
   days on market $50,000 Active 17 DOM
4. 2026-06-15
   days on market $50,000 Active 15 DOM
5. 2026-06-13
   days on market $50,000 Active 13 DOM
6. 2026-06-13
   days on market $50,000 Active 12 DOM
7. 2026-06-09
   days on market $50,000 Active 9 DOM
8. 2026-06-08
   days on market $50,000 Active 8 DOM
9. 2026-06-07
   days on market $50,000 Active 7 DOM
10. 2026-06-04
    days on market $50,000 Active 4 DOM
11. 2026-06-03
    days on market $50,000 Active 3 DOM
12. 2026-06-02
    remarks 150-char remark

    Show marketing remark (150 chars)

    Brick Bungalow located near major roads, schools and restaurants. This home features some updates throughout, full bathroom, full unfinished basement.

13. 2026-06-02
    listed $50,000 Active 2 DOM

    Show marketing remark (150 chars)

    Brick Bungalow located near major roads, schools and restaurants. This home features some updates throughout, full bathroom, full unfinished basement.

ⓘ 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: $2,306 · $192/mo
• Projected year-2 tax: $2,306 · $192/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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,942
• − Mortgage interest: −$2,801
• − Property taxes: −$2,306
• − Insurance: −$250
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$1,455
• Taxable income: $6,579
• Est. tax owed @ 24.0%: −$1,579
• After-tax cash flow: $5,312/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

+0.2% since first listed

41 events — show timeline

• 2026-06-02 Price Changed $50,000 MiRealSource-MiMLS
• 2026-06-02 Relisted — MiRealSource-MiMLS
• 2026-06-02 Relisted — REALCOMP
• 2026-06-02 Price Changed $50,000 REALCOMP
• 2026-04-09 Listed for Rent $1,200 REALSOURCE
• 2026-04-08 Listing Removed — MiRealSource-MiMLS
• 2026-04-06 Listed $85,000 REALCOMP
• 2026-04-06 Listed $85,000 MiRealSource-MiMLS
• 2016-05-10 Listing Removed — REALCOMP
• 2016-05-10 Listed $8,000 REALCOMP
• 2016-05-10 Listed $8,000 MiRealSource-MiMLS
• 2016-05-10 Listing Removed — MiRealSource-MiMLS
• 2016-03-25 Listing Removed — REALCOMP
• 2016-03-25 Listing Removed — MiRealSource-MiMLS
• 2016-03-25 Listing Removed — MiRealSource-MiMLS
• 2016-03-25 Listing Removed — REALCOMP
• 2016-03-15 Price Changed $3,000 MiRealSource-MiMLS
• 2016-03-15 Price Changed $2,500 MiRealSource-MiMLS
• 2016-03-15 Price Changed $3,000 REALCOMP
• 2016-03-15 Price Changed $2,500 REALCOMP
• 2016-02-18 Price Changed $5,800 MiRealSource-MiMLS
• 2016-02-17 Price Changed $5,800 REALCOMP
• 2016-02-07 Relisted — REALCOMP
• 2016-02-01 Listing Removed — REALCOMP
• 2016-01-13 Price Changed $6,900 MiRealSource-MiMLS
• 2016-01-12 Price Changed $6,900 REALCOMP
• 2015-12-14 Listed $8,000 MiRealSource-MiMLS
• 2015-12-14 Listed $8,000 REALCOMP
• 2015-12-14 Listed $3,000 REALCOMP
• 2015-12-09 Listed $3,000 MiRealSource-MiMLS
• 2010-02-09 Listing Removed — REALCOMP
• 2009-12-06 Listed $4,999 REALCOMP
• 2004-01-28 Sold (Public Records) $56,000 Public Records
• 2003-12-31 Listing Removed — REALCOMP
• 2003-05-07 Listed $59,900 REALCOMP
• 2003-04-05 Listing Removed — REALCOMP
• 2002-11-04 Listed $57,900 REALCOMP
• 2002-07-02 Listing Removed — REALCOMP
• 2002-04-02 Listed $55,000 REALCOMP
• 2000-06-06 Listing Removed — REALCOMP
• 2000-03-13 Listed $49,900 REALCOMP

Property tax history

+5.0%/yr

Latest (2025): $2,306 · +1822.0% YoY. Source: county tax records.