24611 Oxford St · Dearborn, MI 48124

$159,000

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 2 Days on market

Built 1943 5,663 sqft lot Est $176k · 10% under

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Why this score? — see what drove the C 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 +20.7/30.0
• ARV discount +11.8/15.0
• DSCR +6.6/10.0
• 1% rule +5.3/10.0
• 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

Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

Key facts

• 5,663 sq ft lot
• Garage
• Built 1943

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half levels; Ground-level entry with steps
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Lot approximately 0.13 acres (40 x 137)

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Cap rate 7.9% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $5k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $159k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,000

Questions for the listing agent

1. Built in 1943 — 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: 1.03% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.83%
• DSCR: 1.26
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $175,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24611 Oxford St	0.00mi	3/1.0	972 (0%)	0mo	$155,000	$159	100
24611 Oxford St	0.00mi	3/1.0	972 (0%)	0mo	$155,000	$159	100
24412 Chicago St	0.24mi	3/1.0	1,024 (+5%)	7mo	$175,000	$171	74
24731 Notre Dame St	0.44mi	3/1.0	1,000 (+3%)	6mo	$205,000	$205	70
25452 Notre Dame St	0.62mi	3/1.0	1,025 (+6%)	7mo	$185,500	$181	56
24440 New York St	0.35mi	4/1.0 (+1)	1,104 (+14%)	3mo	$209,900	$190	53
23840 Oxford St	0.43mi	2/2.0 (-1)	1,050 (+8%)	6mo	$196,000	$187	52
2819 Geneva St	0.63mi	3/2.0	1,050 (+8%)	1mo	$208,000	$198	52
24313 Carlysle St	0.71mi	4/2.0 (+1)	986 (+1%)	6mo	$260,000	$264	50
24420 Calvin St	0.48mi	2/1.0 (-1)	860 (-12%)	4mo	$135,000	$157	50
24304 Carlysle St	0.67mi	2/1.0 (-1)	895 (-8%)	2mo	$137,000	$153	49
25716 Notre Dame St	0.74mi	2/1.0 (-1)	850 (-13%)	6mo	$105,000	$124	35

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-11,050
• Equity at exit: $23,707

10-year hold

• IRR: 3.6%
• Equity multiple: 1.27×
• Total profit: $12,040
• Equity at exit: $13,747

Cash invested: $44,520 (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 →

ZIP-level market 48124

• Rents YoY: 3.6%
• Active inventory: 148
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,630 high
• Mortgage (P&I): −$834
• Tax from tax record: −$172 /mo · $2,060/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $216

Break-even live

Break-even rent $1,357

Max offer price $159,000

Occupancy floor 82%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24720 Michigan Ave Dearborn, MI	2.0	1.0	900	$1,350	$1.50	43d	1	0.41mi
24442 Union St Dearborn, MI	3.0	1.5	1000	$1,900	$1.90	1d	1	0.59mi
25745 Princeton St Dearborn Heights, MI	3.0	1.0	1080	$1,500	$1.39	10d	1	0.68mi
2825 Queen St Dearborn, MI	2.0	1.0	1000	$1,299	$1.30	43d	1	0.78mi
24154 Dartmouth St Dearborn, MI	2.0	1.0	950	$1,275	$1.34	14d	1	0.79mi
3763 Heritage Pkwy Dearborn, MI	2.0	1.5	1035	$1,450	$1.40	43d	1	0.82mi
3809 Heritage Pkwy Dearborn, MI	2.0	1.5	1035	$1,400	$1.35	43d	1	0.84mi
24601 Andover Dr Dearborn Heights, MI	3.0	1.5	1092	$1,700	$1.56	1d	1	0.86mi
3755 Heritage Pkwy Dearborn, MI	2.0	1.0	830	$1,450	$1.75	43d	1	0.87mi
25722 Carlysle St Dearborn Heights, MI	3.0	1.0	1040	$1,450	$1.39	17d	1	0.91mi
24684 Lehigh St Dearborn Heights, MI	4.0	1.0	878	$1,600	$1.82	12d	1	1.03mi
25016 Lehigh St Dearborn Heights, MI	2.0	1.0	1000	$1,400	$1.40	4d	1	1.04mi
4481 Westpoint St Dearborn Heights, MI	3.0	2.0	768	$1,549	$2.02	14d	1	1.18mi
572 Tobin Dr Inkster, MI	1.0–3.0	1.0–2.0	936	$1,600	$1.71	1d	22	1.24mi
22700 Garrison St Dearborn, MI	1.0–2.0	1.0	780	$1,550	$1.99	43d	2	1.35mi
26089 Lehigh St Inkster, MI	2.0	1.0	900	$1,295	$1.44	17d	1	1.35mi
26159 Stanford St Inkster, MI	4.0	1.0	1056	$1,350	$1.28	5d	1	1.36mi
26707 Penn St Inkster, MI	3.0	1.0	900	$1,400	$1.56	5d	1	1.38mi
26382 Colgate St Inkster, MI	2.0	1.0	850	$935	$1.10	24d	1	1.39mi
26742 Penn St Inkster, MI	3.0	1.0	1000	$1,300	$1.30	16d	1	1.40mi
3620 Monroe St Dearborn, MI	3.0	2.0	1100	$1,800	$1.64	10d	1	1.43mi

Listing history 12 events

1. 2026-05-06
   status Pending 297-char remark

   Show marketing remark (297 chars)

   Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

2. 2026-05-06
   status Pending

   Show marketing remark (297 chars)

   Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

3. 2026-05-05
   price $159,000 297-char remark

   Show marketing remark (297 chars)

   Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

4. 2026-05-05
   price $159,000

   Show marketing remark (297 chars)

   Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

5. 2026-05-01
   listed $169,900 Active 297-char remark

   Show marketing remark (297 chars)

   Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

6. 2026-05-01
   listed $169,900 Active

   Show marketing remark (297 chars)

   Cute 3 bedroom bungalow in Dearborn. Popular layout with 2 beds on main level and large upper level primary bedroom! Full basement, fenced yard w/ 1 car garage and up to city code! Call for your apt today. Tenant occupied, minimum 24 hr notice to show. BATVAI. Measurements Approx. Better hurry!!!

7. 2015-12-29
   soldstatus $54,000
8. 2015-11-23
   soldstatus $54,000 30-char remark

   Show marketing remark (30 chars)

   SOLD SOLD SOLD!! THANKS JOE D!

9. 2015-10-19
   historical 30-char remark

   Show marketing remark (30 chars)

   SOLD SOLD SOLD!! THANKS JOE D!

10. 2015-10-12
    listed $64,900

    Show marketing remark (30 chars)

    SOLD SOLD SOLD!! THANKS JOE D!

11. 2015-10-12
    listed $64,900 30-char remark

    Show marketing remark (30 chars)

    SOLD SOLD SOLD!! THANKS JOE D!

12. 2000-12-07
    soldstatus $50,000

ⓘ 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: $2,060 · $172/mo
• Projected year-2 tax: $2,254 · $188/mo
• Expected delta: +$194/yr (+$16/mo · 9.4%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,563
• − Mortgage interest: −$8,906
• − Property taxes: −$2,060
• − Insurance: −$795
• − Repairs & maintenance: −$1,565
• − Management: −$1,565
• − Depreciation: −$4,625
• Taxable income: $46
• Est. tax owed @ 24.0%: −$11
• After-tax cash flow: $2,583/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

+218.0% since first listed

12 events — show timeline

• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — REALCOMP
• 2026-05-05 Price Changed $159,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $159,000 REALCOMP
• 2026-05-01 Listed $169,900 REALCOMP
• 2026-05-01 Listed $169,900 MiRealSource-MiMLS
• 2015-12-29 Sold (Public Records) $54,000 Public Records
• 2015-11-23 Sold (MLS) $54,000 MiRealSource-MiMLS
• 2015-10-19 Listing Removed — MiRealSource-MiMLS
• 2015-10-12 Listed $64,900 MiRealSource-MiMLS
• 2015-10-12 Listed $64,900 REALCOMP
• 2000-12-07 Sold (Public Records) $50,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,060 · -12.0% YoY. Source: county tax records.