19400 Forrer St · Detroit, MI 48235

$85,000

2 bd · 1.0 ba · 927 sqft · SingleFamily public records · 42 Days on market

Built 1943 5,227 sqft lot $92/sqft · 25% above area Est $68k · 25% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1300.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer and 19421 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

Key facts

• 5,227 sq ft lot
• Built 1943
• Listed 42 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Ranch-style single family home; Approximately 927 total living area
• Construction: Brick construction; Built in 1943; Michigan-style basement
• Exterior features: Public water

Interior

• Kitchen: Kitchen (approx. 10 x 10)
• Bedrooms: Primary bedroom (approx. 10 x 10); Bedroom 2 (approx. 10 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Fireplace; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents rising (+3.2%/yr); 283 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 40% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 + 3.2% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $14k; list at $85k implies a 507% 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 $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.52% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.36%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $67,902
• List price: $85,000
• Delta: 25.18%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19348 Montrose St	0.08mi	3/1.5 (+1)	990 (+7%)	5mo	$145,900	$147	74
20232 Prevost St	0.52mi	3/1.0 (+1)	933 (+1%)	4mo	$110,000	$118	66
19152 Whitcomb St	0.36mi	2/1.5	1,012 (+9%)	1mo	$110,000	$109	65
19165 Rutherford St	0.23mi	3/1.0 (+1)	1,013 (+9%)	6mo	$43,500	$43	64
19215 Winthrop St	0.17mi	3/1.5 (+1)	1,030 (+11%)	6mo	$137,000	$133	62
19975 Ferguson St	0.56mi	3/1.0 (+1)	889 (-4%)	1mo	$50,650	$57	61
18435 Robson St	0.74mi	3/1.0 (+1)	925 (-0%)	0mo	$86,000	$93	60
18937 Lindsay St	0.67mi	3/1.0 (+1)	951 (+3%)	2mo	$59,000	$62	58
20069 Asbury Park	0.56mi	3/1.0 (+1)	1,008 (+9%)	6mo	$73,000	$72	50
16442 Pembroke Ave	0.46mi	3/1.0 (+1)	1,050 (+13%)	4mo	$40,000	$38	48
19950 Oakfield St	0.71mi	3/1.0 (+1)	1,001 (+8%)	5mo	$40,000	$40	45
20025 Hubbell St	0.74mi	3/1.0 (+1)	1,022 (+10%)	1mo	$59,500	$58	43

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.57×
• Total profit: $13,564
• Equity at exit: $12,674

10-year hold

• IRR: 23.2%
• Equity multiple: 3.02×
• Total profit: $48,013
• Equity at exit: $7,349

Cash invested: $23,800 (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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,295 high
• Mortgage (P&I): −$446
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $424

Break-even live

Break-even rent $759

Max offer price $85,000

Occupancy floor 62%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.12mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	16d	1	0.15mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	12d	1	0.53mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	0.58mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	4d	1	0.61mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	0.63mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	14d	5	0.68mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	24d	1	0.69mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	16d	1	0.70mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	4d	1	0.74mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	4d	1	0.80mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	0.81mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	14d	1	0.86mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	16d	1	0.87mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	43d	1	0.89mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	0.90mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	43d	1	0.97mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	1.02mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	1d	1	1.06mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	43d	1	1.06mi
20539 Southfield Rd Detroit, MI	1.0	1.0	700	$800	$1.14	10d	4	1.10mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	4d	1	1.17mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	24d	1	1.17mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	1d	1	1.18mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	43d	1	1.18mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	43d	1	1.23mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	1.26mi
21697 Greenfield Rd Unit A-219 Oak Park, MI	1.0	1.0	714	$1,774	$2.48	24d	1	1.27mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	1.29mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	1.29mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.34mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	14d	1	1.48mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	4d	1	1.49mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	43d	1	1.50mi

Listing history 14 events

1. 2026-06-13
   statusdays on market $85,000 Pending 42 DOM
2. 2026-06-09
   days on market $85,000 Active 41 DOM
3. 2026-06-08
   days on market $85,000 Active 40 DOM
4. 2026-06-07
   days on market $85,000 Active 39 DOM
5. 2026-06-04
   days on market $85,000 Active 36 DOM
6. 2026-06-03
   days on market $85,000 Active 35 DOM
7. 2026-06-02
   days on market $85,000 Active 34 DOM
8. 2026-06-01
   days on market $85,000 Active 33 DOM
9. 2026-05-31
   days on market $85,000 Active 32 DOM
10. 2026-04-26
    listed $85,000 Active 435-char remark

    Show marketing remark (435 chars)

    DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1300.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer and 19421 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

11. 2026-04-26
    listed $85,000 Active 435-char remark

    Show marketing remark (435 chars)

    DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1300.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer and 19421 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

12. 2026-04-26
    listed $85,000 Active

    Show marketing remark (435 chars)

    DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1300.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer and 19421 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

13. 2015-03-17
    soldstatus $14,000
14. 1992-11-04
    soldstatus $30,700

ⓘ 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: $1,418 · $118/mo
• Projected year-2 tax: $1,418 · $118/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,539
• − Mortgage interest: −$4,761
• − Property taxes: −$1,418
• − Insurance: −$425
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$2,473
• Taxable income: $3,976
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $4,130/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+176.9% since first listed

8 events — show timeline

• 2026-06-10 Pending — MiRealSource-MiMLS
• 2026-06-10 Pending — REALCOMP
• 2026-06-10 Pending — SW Michigan MLS
• 2026-04-26 Listed $85,000 SW Michigan MLS
• 2026-04-26 Listed $85,000 REALCOMP
• 2026-04-26 Listed $85,000 MiRealSource-MiMLS
• 2015-03-17 Sold (Public Records) $14,000 Public Records
• 1992-11-04 Sold (Public Records) $30,700 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,418 · -49.3% YoY. Source: county tax records.