7350 N Inkster Rd #118 · Dearborn Heights, MI 48127

$75,000

1 bd · 1.0 ba · 721 sqft · Condo public records · 74 Days on market

Built 1964 $389/mo HOA · 36% of rent

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Why this score? — see what drove the D 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 +11.0/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Schools +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Unit 118 at the Riviera Condominiums, located at 7350 Inkster Road in Dearborn Heights. This updated condo offers comfortable and affordable living. The unit features new flooring, fresh paint, and an updated bathroom, along with a bright living area that flows into a functional kitchen with included appliances. The building offers secured entry, shared laundry facilities, and additional basement storage. Residents can also enjoy the in-ground community pool, and the association covers exterior maintenance, water, and heat. Buyer and buyer’s agent to verify all information.

Key facts

• Functional kitchen
• Bright living area
• Updated bathroom

Tags

• UPDATED BATHROOM
• BRIGHT LIVING AREA
• FUNCTIONAL KITCHEN
• SECURED ENTRY
• ADDITIONAL BASEMENT STORAGE
• IN-GROUND COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $-32 ($-386/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (7.6% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $69k (7.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment D+, health & safety D+.
• Crestwood School District (suburban): math 32% / reading 43% proficiency, ranked #242 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside Middle School (math 37% / reading 57%, grade D+, #143 of 493 statewide, top 30%, 1,172 students, 78% FRL); Crestwood High School (math 36% / reading 48%, grade F, #264 of 713 statewide, top 41%, 1,336 students, 72% FRL) — zoned schools average 75% FRL vs 59% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 148 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $519 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.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $45k; list at $75k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $69,319 (7.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.42% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.41% rent growth · sell at horizon

5-year hold

• IRR: -24.1%
• Equity multiple: 0.21×
• Total profit: $-16,678
• Equity at exit: $11,183

10-year hold

• IRR: -41.3%
• Equity multiple: -0.27×
• Total profit: $-26,769
• Equity at exit: $6,485

Cash invested: $21,000 (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 48127

• Rents YoY: 0.4%
• Active inventory: 148
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$31
• HOA: −$389
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $-32

Break-even live

Break-even rent $1,108

Max offer price $69,319

Occupancy floor 98%

Sensitivity live

Price	-10% $10	-5% $-11	+0% $-32	+5% $-53	+10% $-75
Rent	-10% $-116	-5% $-74	+0% $-32	+5% $10	+10% $52
Rate	-1.0pp $6	-0.5pp $-13	base $-32	+0.5pp $-52	+1.0pp $-71

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6954 Inkster Rd Dearborn Heights, MI	1.0–2.0	1.0–1.5	837	$949	$1.13	0d	9	0.26mi
27201 Canfield St W Dearborn Heights, MI	1.0–2.0	1.0–2.0	852	$1,024	$1.20	0d	21	0.74mi
5726 Inkster Rd Dearborn Heights, MI	1.0	1.0	630	$1,050	$1.67	46d	1	0.98mi

HOA detail condo

• Monthly dues: $389 · $4,668/yr
• Likely covers: waterexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-03-17
   listed $75,000 Active 597-char remark

   Show marketing remark (591 chars)

   Welcome to Unit 118 at the Riviera Condominiums, located at 7350 Inkster Road in Dearborn Heights. This updated condo offers comfortable and affordable living. The unit features new flooring, fresh paint, and an updated bathroom, along with a bright living area that flows into a functional kitchen with included appliances. The building offers secured entry, shared laundry facilities, and additional basement storage. Residents can also enjoy the in-ground community pool, and the association covers exterior maintenance, water, and heat. Buyer and buyer's agent to verify all information.

2. 2026-03-17
   listed $75,000 Active 591-char remark

   Show marketing remark (591 chars)

   Welcome to Unit 118 at the Riviera Condominiums, located at 7350 Inkster Road in Dearborn Heights. This updated condo offers comfortable and affordable living. The unit features new flooring, fresh paint, and an updated bathroom, along with a bright living area that flows into a functional kitchen with included appliances. The building offers secured entry, shared laundry facilities, and additional basement storage. Residents can also enjoy the in-ground community pool, and the association covers exterior maintenance, water, and heat. Buyer and buyer's agent to verify all information.

3. 2007-01-30
   soldstatus $45,000
4. 2007-01-30
   soldstatus $45,000
5. 2007-01-15
   historical
6. 2006-07-15
   listed $50,000
7. 2006-07-15
   listed $50,000
8. 1991-10-17
   soldstatus $32,500

ⓘ 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: $744 · $62/mo
• Projected year-2 tax: $949 · $79/mo
• Expected delta: +$206/yr (+$17/mo · 27.6%)

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

Taxation est. · year 1

• Rental income: $12,811
• − Mortgage interest: −$4,201
• − Property taxes: −$744
• − Insurance: −$375
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − HOA: −$4,668
• − Depreciation: −$2,182
• Taxable loss: −$1,409
• Est. tax savings @ 24.0%: +$338
• After-tax cash flow: $-48/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: Crestwood School District
• NCES district ID: 2600016
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $47,101
• Composite: 32.1/100
• National rank: #5806
• State rank: #242 of 540 in MI

Livability — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,646
• Household income: $60,742
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1196.0

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 (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Arab 8% Romanian 7% Lithuanian 2%
• Foreign-born: 31% · Canada
• Languages at home: 46% English-only · Arabic 45% Russian/Polish/Slavic 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: ▼ -319.04%
• Current HPI: 225.9407
• Rent YoY: ▲ 0.41%
• 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

+130.8% since first listed

8 events — show timeline

• 2026-03-17 Listed $75,000 REALCOMP
• 2026-03-17 Listed $75,000 MiRealSource-MiMLS
• 2007-01-30 Sold (MLS) $45,000 REALCOMP
• 2007-01-30 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2007-01-15 Listing Removed — MiRealSource-MiMLS
• 2006-07-15 Listed $50,000 REALCOMP
• 2006-07-15 Listed $50,000 MiRealSource-MiMLS
• 1991-10-17 Sold (Public Records) $32,500 Public Records

Property tax history

+3.0%/yr

Latest (2025): $744 · -27.6% YoY. Source: county tax records.