21733 Audette St · Dearborn, MI 48124

$149,900

3 bd · 2.0 ba · 1,414 sqft · SingleFamily public records · 7 Days on market

Built 1967 4,792 sqft lot Est $239k · 37% under ↓ 6% since listing

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1967

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.9% vs local median 4.3% in Dearborn — 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 80/100 on livability (#84 in MI, #1,904 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, schools D-.
• Dearborn City School District (urban): math 26% / reading 39% proficiency, ranked #325 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.6%/yr); 148 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 24y 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.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $238,966
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22101 Francis St	0.38mi	3/1.5	1,403 (-1%)	1mo	$305,000	$217	78
3020 Williams St	0.20mi	2/1.5 (-1)	1,352 (-4%)	2mo	$220,000	$163	74
21230 Audette St	0.23mi	4/2.0 (+1)	1,248 (-12%)	1mo	$202,500	$162	64
3205 Lincoln St	0.42mi	3/1.0	1,500 (+6%)	4mo	$193,000	$129	63
3400 Dudley St	0.41mi	2/1.0 (-1)	1,370 (-3%)	6mo	$120,000	$88	61
2920 Hubbard St	0.54mi	3/1.0	1,534 (+8%)	1mo	$220,000	$143	56
21709 Edna St	0.65mi	3/2.0	1,521 (+8%)	6mo	$325,000	$214	52
22153 Park St	0.73mi	3/2.0	1,552 (+10%)	0mo	$305,000	$197	50
2829 Bennett St	0.56mi	3/1.0	1,244 (-12%)	1mo	$209,900	$169	49
22742 Beech St	0.56mi	3/1.5	1,594 (+13%)	2mo	$359,500	$226	49
21522 Audrey St	0.57mi	3/1.0	1,213 (-14%)	4mo	$230,000	$190	42
23256 Cleveland St	0.72mi	2/1.0 (-1)	1,520 (+8%)	6mo	$160,000	$105	40

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 · 3.57% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,246
• Equity at exit: $22,351

10-year hold

• IRR: 9.0%
• Equity multiple: 1.71×
• Total profit: $29,682
• Equity at exit: $12,961

Cash invested: $41,972 (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 48124

• Rents YoY: 3.6%
• Active inventory: 148
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,835 high
• Mortgage (P&I): −$786
• Tax from tax record: −$273 /mo · $3,270/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $328

Break-even live

Break-even rent $1,419

Max offer price $149,900

Occupancy floor 77%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21337 Audette St Dearborn, MI	3.0	1.0	964	$1,850	$1.92	43d	1	0.17mi
3620 Monroe St Dearborn, MI	3.0	2.0	1100	$1,800	$1.64	10d	1	0.59mi
2825 Queen St Dearborn, MI	2.0	1.0	1000	$1,299	$1.30	43d	1	0.67mi
2823 Queen St Dearborn, MI	3.0	2.0	1400	$1,599	$1.14	18d	1	0.67mi
22340 Park St Dearborn, MI	2.0	1.0	1056	$1,350	$1.28	5d	1	0.68mi
20728 Carlysle St Dearborn, MI	3.0	1.0	1087	$1,850	$1.70	1d	1	0.73mi
1008 S Military St Dearborn, MI	2.0	1.5	1500	$2,295	$1.53	43d	1	0.77mi
2631 Woodside St Dearborn, MI	3.0	1.0	894	$1,650	$1.85	1d	1	1.02mi
3901 Academy St Dearborn Heights, MI	4.0	2.0	1400	$2,100	$1.50	1d	1	1.09mi
21954 Morley Ave #108 Dearborn, MI	2.0	1.0	1000	$1,750	$1.75	24d	1	1.12mi
4638 Gertrude St Dearborn Heights, MI	3.0	1.0	1020	$1,700	$1.67	5d	1	1.18mi
4757 Dudley St Dearborn Heights, MI	3.0	1.0	995	$1,350	$1.36	11d	1	1.20mi
4810 Campbell St Dearborn Heights, MI	3.0	1.0	1000	$1,700	$1.70	1d	1	1.21mi
4914 Gertrude St Dearborn Heights, MI	2.0	1.0	908	$1,230	$1.35	17d	1	1.28mi
4934 McKinley St Dearborn Heights, MI	3.0	1.0	1051	$1,700	$1.62	1d	1	1.31mi
4631 Ziegler St Dearborn Heights, MI	3.0	1.0	1050	$1,650	$1.57	43d	1	1.42mi
4704 Jackson St Dearborn Heights, MI	3.0	1.0	1000	$1,500	$1.50	21d	1	1.42mi
24154 Dartmouth St Dearborn, MI	2.0	1.0	950	$1,275	$1.34	15d	1	1.46mi
24442 Union St Dearborn, MI	3.0	1.5	1000	$1,900	$1.90	1d	1	1.49mi

Listing history 32 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-09-23
   status Pending
5. 2019-07-16
   historical
6. 2018-12-05
   status Pending 107-char remark

   Show marketing remark (107 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

7. 2018-07-20
   historical 107-char remark

   Show marketing remark (107 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

8. 2018-06-08
   status Pending
9. 2018-06-06
   historical
10. 2018-05-14
    status Pending 107-char remark

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

11. 2018-05-14
    status Pending

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

12. 2018-05-14
    status Pending

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

13. 2018-05-14
    historical

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

14. 2018-05-14
    historical

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

15. 2018-05-07
    listed $149,900 Active

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

16. 2018-05-07
    listed $149,900 Active 107-char remark

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

17. 2018-05-07
    listed $149,900 Active

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

18. 2018-05-07
    listed $149,900

    Show marketing remark (107 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 2 FULL BATH, KITCHEN, LIVING ROOM, DINING ROOM, BASEMENT, AND 2 CAR GARAGE.

19. 2003-11-17
    soldstatus $135,000
20. 2003-08-27
    soldstatus $135,000
21. 2003-06-10
    historical
22. 2003-05-30
    listed $149,900
23. 2003-05-30
    historical
24. 2003-05-28
    listed $157,900
25. 2003-05-28
    historical
26. 2003-04-07
    listed $157,900
27. 2003-04-07
    historical
28. 2003-03-27
    listed $159,900
29. 2003-03-27
    listed $159,900
30. 2003-03-10
    listed $159,900
31. 2002-11-22
    historical
32. 2002-10-17
    listed $159,900

ⓘ 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: $3,270 · $273/mo
• Projected year-2 tax: $3,270 · $273/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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,015
• − Mortgage interest: −$8,397
• − Property taxes: −$3,270
• − Insurance: −$750
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$4,361
• Taxable income: $1,715
• Est. tax owed @ 24.0%: −$412
• After-tax cash flow: $3,527/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: Dearborn City School District
• NCES district ID: 2611600
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $46,884
• Composite: 27.93/100
• National rank: #6864
• State rank: #325 of 540 in MI

Livability — Dearborn

• Score: 80/100
• State rank: #84
• US rank: #1904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn, MI
• County: Wayne County · 1,562,939 people
• City population: 86,476
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 34,479
• Household income: $81,796
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 444.0

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 White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Arabic 12% Spanish 2% Other Indo-European 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: ▼ -278.39%
• Current HPI: 204.5229
• Rent YoY: ▲ 3.57%
• 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

-6.3% since first listed

32 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-09-23 Pending — REALCOMP
• 2019-07-16 Listing Removed — REALCOMP
• 2018-12-05 Pending — MiRealSource-MiMLS
• 2018-07-20 Listing Removed — MiRealSource-MiMLS
• 2018-06-08 Pending — REALCOMP
• 2018-06-06 Listing Removed — REALCOMP
• 2018-05-14 Pending — MiRealSource-MiMLS
• 2018-05-14 Pending — MiRealSource-MiMLS
• 2018-05-14 Pending — REALCOMP
• 2018-05-14 Listing Removed — REALCOMP
• 2018-05-14 Listing Removed — MiRealSource-MiMLS
• 2018-05-07 Listed $149,900 REALCOMP
• 2018-05-07 Listed $149,900 MiRealSource-MiMLS
• 2018-05-07 Listed $149,900 MiRealSource-MiMLS
• 2018-05-07 Listed $149,900 REALCOMP
• 2003-11-17 Sold (Public Records) $135,000 Public Records
• 2003-08-27 Sold (MLS) $135,000 REALCOMP
• 2003-06-10 Listing Removed — MiRealSource-MiMLS
• 2003-05-30 Listing Removed — REALCOMP
• 2003-05-30 Listed $149,900 REALCOMP
• 2003-05-28 Listing Removed — REALCOMP
• 2003-05-28 Listed $157,900 REALCOMP
• 2003-04-07 Listing Removed — REALCOMP
• 2003-04-07 Listed $157,900 REALCOMP
• 2003-03-27 Listed $159,900 REALCOMP
• 2003-03-27 Listed $159,900 MiRealSource-MiMLS
• 2003-03-10 Listed $159,900 REALCOMP
• 2002-11-22 Listing Removed — REALCOMP
• 2002-10-17 Listed $159,900 REALCOMP

Property tax history

+0.5%/yr

Latest (2025): $3,270 · -24.6% YoY. Source: county tax records.