10 Perrin St · River Rouge, MI 48218

$50,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 39 Days on market

Built 1900 3,049 sqft lot Est $71k · 30% under

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Investor special in desirable River Rouge location! This 3-bedroom, 2-bath home offers strong potential for a fix-and-flip or rental strategy. Conveniently located just off West Jefferson Avenue, surrounded by established homes and a quiet neighborhood setting. Property features a detached garage and solid layout ready for your vision. With nearby comparable sales supporting value, this is a great opportunity to add to your portfolio. Property needs full rehab - sold as-is. Buyer to verify all information.

Key facts

• 3,049 sq ft lot
• Garage
• Built 1900

Property features AI

Finance

• Financial info: Annual taxes reported

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding construction
• Construction: Block foundation
• Exterior features: Private maintained road; Private road frontage; Lot approximately 0.07 acres (30 x 108)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Radiant heat; Steam heat; No central cooling
• Interior features: Unfinished basement; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/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: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 8.1% in River Rouge — 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 65/100 on livability (#454 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B+; Watch: health & safety D, schools F, crime F.
• River Rouge School District (suburban): math 3% / reading 12% proficiency, ranked #535 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago 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.
• Current owner paid $35k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.09% ✓
• Cap rate: 18.28%
• Cash-on-cash: 42.82%
• DSCR: 2.91
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $71,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Goodell St	0.38mi	3/1.5	1,092 (+1%)	4mo	$147,000	$135	75
16 Alexander St	0.06mi	3/1.5	1,200 (+11%)	4mo	$135,000	$113	74
60 Forest St	0.29mi	3/1.0	1,005 (-7%)	1mo	$45,625	$45	70
41 Le Blanc St	0.38mi	3/1.0	1,133 (+5%)	2mo	$112,500	$99	68
235 Richter St	0.36mi	3/1.0	1,152 (+7%)	1mo	$45,625	$40	67
251 Richter St	0.32mi	3/1.0	974 (-10%)	5mo	$87,700	$90	61
349 Frazier St	0.72mi	3/2.0	1,036 (-4%)	2mo	$120,000	$116	58
123 Burke St	0.72mi	4/1.0 (+1)	1,032 (-4%)	1mo	$45,625	$44	49
251 Beechwood St	0.72mi	3/1.0	1,150 (+6%)	4mo	$30,000	$26	48
35 Bell St	0.70mi	3/2.0	1,176 (+9%)	6mo	$27,000	$23	48
10 E Auburn Ave	0.40mi	2/1.0 (-1)	942 (-13%)	4mo	$60,000	$64	48
57 E Glenwood St	0.49mi	4/1.5 (+1)	1,214 (+12%)	4mo	$79,900	$66	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.6%
• Equity multiple: 4.97×
• Total profit: $55,548
• Equity at exit: $45,044

10-year hold

• IRR: 47.2%
• Equity multiple: 11.10×
• Total profit: $141,416
• Equity at exit: $97,139

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 48218

• Home prices YoY: 28.4%
• Active inventory: 58
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,044 high
• Mortgage (P&I): −$262
• Tax from tax record: −$42 /mo · $506/yr
• Insurance: −$21
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $444

Break-even live

Break-even rent $482

Max offer price $50,000

Occupancy floor 52%

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Batavia St Unit 1 River Rouge, MI	2.0	1.0	900	$825	$0.92	24d	1	0.44mi
17 W James St Unit 17 W James Lower River Rouge, MI	2.0	1.0	900	$950	$1.06	15d	1	0.75mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	43d	1	0.95mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	24d	1	0.95mi
3801 18th St Ecorse, MI	3.0	1.0	1196	$1,150	$0.96	17d	1	1.05mi
4015 16th St Ecorse, MI	3.0	1.5	1170	$1,300	$1.11	24d	1	1.34mi
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	17d	1	1.45mi

Listing history 29 events

1. 2026-06-09
   days on market $50,000 Active 39 DOM
2. 2026-06-08
   days on market $50,000 Active 38 DOM
3. 2026-06-07
   days on market $50,000 Active 37 DOM
4. 2026-06-04
   days on market $50,000 Active 34 DOM
5. 2026-06-03
   days on market $50,000 Active 33 DOM
6. 2026-06-02
   days on market $50,000 Active 32 DOM
7. 2026-06-01
   days on market $50,000 Active 31 DOM
8. 2026-05-31
   days on market $50,000 Active 30 DOM
9. 2026-05-02
   listed $50,000 Active 511-char remark

   Show marketing remark (511 chars)

   Investor special in desirable River Rouge location! This 3-bedroom, 2-bath home offers strong potential for a fix-and-flip or rental strategy. Conveniently located just off West Jefferson Avenue, surrounded by established homes and a quiet neighborhood setting. Property features a detached garage and solid layout ready for your vision. With nearby comparable sales supporting value, this is a great opportunity to add to your portfolio. Property needs full rehab - sold as-is. Buyer to verify all information.

10. 2026-05-02
    listed $50,000 Active

    Show marketing remark (511 chars)

    Investor special in desirable River Rouge location! This 3-bedroom, 2-bath home offers strong potential for a fix-and-flip or rental strategy. Conveniently located just off West Jefferson Avenue, surrounded by established homes and a quiet neighborhood setting. Property features a detached garage and solid layout ready for your vision. With nearby comparable sales supporting value, this is a great opportunity to add to your portfolio. Property needs full rehab - sold as-is. Buyer to verify all information.

11. 2026-04-30
    historical $50,000 511-char remark

    Show marketing remark (511 chars)

    Investor special in desirable River Rouge location! This 3-bedroom, 2-bath home offers strong potential for a fix-and-flip or rental strategy. Conveniently located just off West Jefferson Avenue, surrounded by established homes and a quiet neighborhood setting. Property features a detached garage and solid layout ready for your vision. With nearby comparable sales supporting value, this is a great opportunity to add to your portfolio. Property needs full rehab - sold as-is. Buyer to verify all information.

12. 2018-12-19
    soldstatus $35,000 Sold 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

13. 2018-10-17
    status Pending

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

14. 2018-10-17
    status Pending 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

15. 2018-08-24
    price $39,900
16. 2018-08-23
    price $39,900 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

17. 2018-08-14
    price $47,500

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

18. 2018-08-14
    price $47,500 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

19. 2018-08-09
    status Active

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

20. 2018-08-09
    status Active 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

21. 2018-08-07
    status Pending

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

22. 2018-08-07
    status Active

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

23. 2018-08-07
    status Pending 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

24. 2018-08-07
    status Active 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

25. 2018-08-02
    status Pending

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

26. 2018-08-02
    status Pending 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

27. 2018-07-19
    listed $53,500 Active 214-char remark

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

28. 2018-07-19
    listed $53,500 Active

    Show marketing remark (214 chars)

    Welcome Home! You don't want to miss out on this cute and cozy Cape Cod style home. Recently updated in 2017. Just a quick walk to Memorial Park which consists of big skateboarding half pipes and basketball courts!

29. 1994-07-28
    soldstatus $23,000

ⓘ 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: $506 · $42/mo
• Projected year-2 tax: $638 · $53/mo
• Expected delta: +$132/yr (+$11/mo · 26.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,528
• − Mortgage interest: −$2,801
• − Property taxes: −$506
• − Insurance: −$916
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$1,455
• Taxable income: $4,846
• Est. tax owed @ 24.0%: −$1,163
• After-tax cash flow: $4,165/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: River Rouge School District
• NCES district ID: 2629760
• Math proficiency: 3% ▼ -7.00%
• Reading proficiency: 12% ▼ -4.00%
• Median HH income: $26,664
• Composite: 5.29/100
• National rank: #10033
• State rank: #535 of 540 in MI

Livability — River Rouge

• Score: 65/100
• State rank: #454
• US rank: #12700

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment F Housing B+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: River Rouge, MI
• City population: 7,096
• Population (ZIP): 7,096

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 34% Two or more races 16% Hispanic / Latino 16%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▲ 77.93%
• Current HPI: 352.3551
• Rent YoY: —
• Metro: —
• 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

+117.4% since first listed

21 events — show timeline

• 2026-05-02 Listed $50,000 MiRealSource-MiMLS
• 2026-05-02 Listed $50,000 REALCOMP
• 2026-04-30 Coming Soon $50,000 MiRealSource-MiMLS
• 2018-12-19 Sold (MLS) $35,000 REALCOMP
• 2018-10-17 Pending — MiRealSource-MiMLS
• 2018-10-17 Pending — REALCOMP
• 2018-08-24 Price Changed $39,900 MiRealSource-MiMLS
• 2018-08-23 Price Changed $39,900 REALCOMP
• 2018-08-14 Price Changed $47,500 MiRealSource-MiMLS
• 2018-08-14 Price Changed $47,500 REALCOMP
• 2018-08-09 Relisted — MiRealSource-MiMLS
• 2018-08-09 Relisted — REALCOMP
• 2018-08-07 Pending — MiRealSource-MiMLS
• 2018-08-07 Relisted — MiRealSource-MiMLS
• 2018-08-07 Pending — REALCOMP
• 2018-08-07 Relisted — REALCOMP
• 2018-08-02 Pending — MiRealSource-MiMLS
• 2018-08-02 Pending — REALCOMP
• 2018-07-19 Listed $53,500 MiRealSource-MiMLS
• 2018-07-19 Listed $53,500 REALCOMP
• 1994-07-28 Sold (Public Records) $23,000 Public Records

Property tax history

-9.1%/yr

Latest (2025): $506 · -59.5% YoY. Source: county tax records.