18037 Ferguson St · Detroit, MI 48235

$70,000

2 bd · 1.0 ba · 693 sqft · SingleFamily public records · 61 Days on market

Built 1943 4,356 sqft lot $101/sqft · at area comps Est $73k · at est.

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors looking to add a turnkey rental property to your portfolio. Currently tenant occupied at 1,100 / month. Tenant set to vacate by closing with an option to extend their lease if the buyer is interested. Property is Section 8 approved with a certificate of occupancy on file. Plumbing updated, new carpet, new paint and updates throughout. This is an amazing opportunity for a home buyer to acquire a great home. Offering easy access to John C. Lodge Fwy and Outer Dr W, this home is just minutes from local parks, restaurants, and shopping, making it a perfect blend of convenience and comfort. Please respect the tenant's right to privacy. No showings until an offer has been accepted. House is currently managed by a professional management company. Schedule your tour today!

Key facts

• Plumbing updated
• New carpet
• New paint

Tags

• TURNKEY RENTAL PROPERTY
• CERTIFICATE OF OCCUPANCY
• PLUMBING UPDATED
• NEW CARPET
• NEW PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 35% 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 $484 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 22y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 11.89%
• Cash-on-cash: 19.98%
• DSCR: 1.89
• GRM: 5.1

CMA / ARV

• ARV (median comp): $72,837
• List price: $70,000
• Delta: 2.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17227 Curtis St	0.14mi	3/1.0 (+1)	717 (+4%)	2mo	$77,000	$107	81
18262 Gilchrist St	0.17mi	2/1.0	728 (+5%)	8mo	$55,000	$76	77
18410 Forrer St	0.49mi	3/1.0 (+1)	689 (-1%)	2mo	$60,000	$87	70
18247 Harlow St	0.32mi	2/1.0	728 (+5%)	10mo	$90,000	$124	69
18928 Biltmore St	0.50mi	2/1.0	694 (+0%)	20mo	$89,000	$128	60
16939 Curtis St	0.07mi	3/1.0 (+1)	778 (+12%)	16mo	$87,000	$112	58
18950 Biltmore St	0.52mi	2/1.0	781 (+13%)	1mo	$46,000	$59	54
16861 FORRER St	0.62mi	2/1.0	708 (+2%)	17mo	$93,000	$131	53
18262 Harlow St	0.30mi	2/1.0	777 (+12%)	21mo	$58,000	$75	48
18509 Prevost St	0.46mi	2/1.0	793 (+14%)	14mo	$32,500	$41	43
16713 Rutherford St	0.70mi	2/1.0	779 (+12%)	10mo	$90,000	$116	39

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: 12.5%
• Equity multiple: 1.50×
• Total profit: $9,810
• Equity at exit: $10,437

10-year hold

• IRR: 21.7%
• Equity multiple: 2.88×
• Total profit: $36,816
• Equity at exit: $6,052

Cash invested: $19,600 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,149 high
• Mortgage (P&I): −$367
• Tax from tax record: −$185 /mo · $2,220/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $326

Break-even live

Break-even rent $736

Max offer price $70,000

Occupancy floor 67%

Sensitivity live

Price	-10% $366	-5% $346	+0% $326	+5% $307	+10% $287
Rent	-10% $236	-5% $281	+0% $326	+5% $372	+10% $417
Rate	-1.0pp $362	-0.5pp $344	base $326	+0.5pp $308	+1.0pp $290

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	44d	1	0.27mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	13d	1	0.99mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	15d	1	1.36mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	2d	1	1.39mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	44d	1	1.39mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	25d	1	1.44mi

Listing history 50 events

1. 2026-06-18
   days on market $70,000 Active 61 DOM
2. 2026-06-17
   price $70,000 Active 60 DOM
3. 2026-06-17
   days on market $75,000 Active 60 DOM
4. 2026-06-15
   days on market $75,000 Active 58 DOM
5. 2026-06-13
   days on market $75,000 Active 56 DOM
6. 2026-06-13
   days on market $75,000 Active 55 DOM
7. 2026-06-09
   days on market $75,000 Active 52 DOM
8. 2026-06-08
   days on market $75,000 Active 51 DOM
9. 2026-06-07
   days on market $75,000 Active 50 DOM
10. 2026-06-04
    days on market $75,000 Active 47 DOM
11. 2026-06-03
    days on market $75,000 Active 46 DOM
12. 2026-06-02
    days on market $75,000 Active 45 DOM
13. 2026-06-01
    days on market $75,000 Active 44 DOM
14. 2026-05-31
    days on market $75,000 Active 43 DOM
15. 2026-04-18
    listed $75,000 Active 797-char remark

    Show marketing remark (797 chars)

    Calling all investors looking to add a turnkey rental property to your portfolio. Currently tenant occupied at 1,100 / month. Tenant set to vacate by closing with an option to extend their lease if the buyer is interested. Property is Section 8 approved with a certificate of occupancy on file. Plumbing updated, new carpet, new paint and updates throughout. This is an amazing opportunity for a home buyer to acquire a great home. Offering easy access to John C. Lodge Fwy and Outer Dr W, this home is just minutes from local parks, restaurants, and shopping, making it a perfect blend of convenience and comfort. Please respect the tenant's right to privacy. No showings until an offer has been accepted. House is currently managed by a professional management company. Schedule your tour today!

16. 2026-04-18
    listed $75,000 Active 797-char remark

    Show marketing remark (797 chars)

    Calling all investors looking to add a turnkey rental property to your portfolio. Currently tenant occupied at 1,100 / month. Tenant set to vacate by closing with an option to extend their lease if the buyer is interested. Property is Section 8 approved with a certificate of occupancy on file. Plumbing updated, new carpet, new paint and updates throughout. This is an amazing opportunity for a home buyer to acquire a great home. Offering easy access to John C. Lodge Fwy and Outer Dr W, this home is just minutes from local parks, restaurants, and shopping, making it a perfect blend of convenience and comfort. Please respect the tenant's right to privacy. No showings until an offer has been accepted. House is currently managed by a professional management company. Schedule your tour today!

17. 2025-07-07
    soldstatus $55,000
18. 2025-06-13
    soldstatus $55,000 Closed
19. 2025-06-13
    soldstatus $55,000 Closed
20. 2025-05-29
    status Pending
21. 2025-05-29
    status Pending
22. 2025-05-19
    historical Accepting Backup Offers
23. 2025-05-19
    historical Active Under Contract
24. 2025-05-06
    status Active
25. 2025-05-06
    status Active
26. 2025-04-24
    historical Accepting Backup Offers
27. 2025-04-24
    historical Active Under Contract
28. 2025-04-22
    price $60,000
29. 2025-04-21
    price $60,000
30. 2025-04-15
    price $70,000
31. 2025-04-14
    price $70,000
32. 2025-03-29
    price $80,000
33. 2025-03-29
    price $80,000
34. 2025-03-05
    price $85,000
35. 2025-03-04
    price $85,000
36. 2025-02-04
    listed $90,000 Active
37. 2025-02-03
    listed $90,000 Active
38. 2024-07-26
    historical $1,050
39. 2024-07-12
    listed $1,050
40. 2024-07-01
    historical
41. 2024-07-01
    historical
42. 2024-06-10
    price $99,900
43. 2024-06-10
    price $99,900
44. 2024-05-31
    listed $105,000 Active
45. 2024-05-31
    listed $105,000 Active
46. 2024-03-22
    soldstatus $59,900
47. 2024-03-19
    soldstatus $59,900 Sold
48. 2024-03-19
    soldstatus $59,900 Closed
49. 2024-02-11
    status Pending
50. 2024-02-11
    status Pending

ⓘ 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: $2,220 · $185/mo
• Projected year-2 tax: $2,220 · $185/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: $13,786
• − Mortgage interest: −$3,921
• − Property taxes: −$2,220
• − Insurance: −$350
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$2,036
• Taxable income: $3,053
• Est. tax owed @ 24.0%: −$733
• After-tax cash flow: $3,184/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

+257.1% since first listed

43 events — show timeline

• 2026-04-18 Listed $75,000 REALCOMP
• 2026-04-18 Listed $75,000 MiRealSource-MiMLS
• 2025-07-07 Sold (Public Records) $55,000 Public Records
• 2025-06-13 Sold (MLS) $55,000 REALCOMP
• 2025-06-13 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2025-05-29 Pending — MiRealSource-MiMLS
• 2025-05-29 Pending — REALCOMP
• 2025-05-19 Contingent — MiRealSource-MiMLS
• 2025-05-19 Contingent — REALCOMP
• 2025-05-06 Relisted — MiRealSource-MiMLS
• 2025-05-06 Relisted — REALCOMP
• 2025-04-24 Contingent — MiRealSource-MiMLS
• 2025-04-24 Contingent — REALCOMP
• 2025-04-22 Price Changed $60,000 MiRealSource-MiMLS
• 2025-04-21 Price Changed $60,000 REALCOMP
• 2025-04-15 Price Changed $70,000 MiRealSource-MiMLS
• 2025-04-14 Price Changed $70,000 REALCOMP
• 2025-03-29 Price Changed $80,000 MiRealSource-MiMLS
• 2025-03-29 Price Changed $80,000 REALCOMP
• 2025-03-05 Price Changed $85,000 MiRealSource-MiMLS
• 2025-03-04 Price Changed $85,000 REALCOMP
• 2025-02-04 Listed $90,000 MiRealSource-MiMLS
• 2025-02-03 Listed $90,000 REALCOMP
• 2024-07-26 Rental Removed $1,050 APPFOLIO
• 2024-07-12 Listed for Rent $1,050 APPFOLIO
• 2024-07-01 Listing Removed — MiRealSource-MiMLS
• 2024-07-01 Listing Removed — REALCOMP
• 2024-06-10 Price Changed $99,900 MiRealSource-MiMLS
• 2024-06-10 Price Changed $99,900 REALCOMP
• 2024-05-31 Listed $105,000 MiRealSource-MiMLS
• 2024-05-31 Listed $105,000 REALCOMP
• 2024-03-22 Sold (Public Records) $59,900 Public Records
• 2024-03-19 Sold (MLS) $59,900 MiRealSource-MiMLS
• 2024-03-19 Sold (MLS) $59,900 REALCOMP
• 2024-02-11 Pending — MiRealSource-MiMLS
• 2024-02-11 Pending — REALCOMP
• 2024-02-09 Listed $59,900 MiRealSource-MiMLS
• 2024-02-09 Listed $59,900 REALCOMP
• 2024-02-08 Coming Soon $59,900 MiRealSource-MiMLS
• 2024-02-08 Coming Soon $59,900 REALCOMP
• 2004-10-08 Sold (MLS) $17,632 REALCOMP
• 2004-04-02 Listed $19,000 REALCOMP
• 2001-10-01 Sold (Public Records) $21,000 Public Records

Property tax history

+11.8%/yr

Latest (2025): $2,220 · +219.1% YoY. Source: county tax records.