16508 Strathmoor St · Detroit, MI 48235

$117,000

9 bd · 2.0 ba · 2,163 sqft · SingleFamily public records · 79 Days on market

Built 1924 10,454 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Really well located Big house 9 bedrooms 3 bathrooms and big lot perfect for to MULTIPLE STAIRS. DO YOU HAVE A BIG IMAGINATION? BECAUSE THE AREA IS GREAT. JUST NEEDS LOVE. WATER SISTEM IS UPDATED, ELECTRIC UPDATED. NEW ITEMS THROUGHOUT. GOOD STRUCTURE. BIG PARKING AREA FOR 6 O MORE CARS This home is conveniently located with easy access to major freeways and close to hospitals, restaurants, shopping, and more, . 24 HOUR NOTICE TO SHOW, NO EXCEPTIONS! The buyer's agent must be physically present for all showings. PLEASE LEAVE A business card. ALL FORNITURE CAN BE NEGOTIATED. For any questions or concerns, please contact us at 313-455-10-93. buyer's agent is responsible for verifying all information and measurements.

Key facts

• Multiple stairs
• Big lot
• Water system updated

Tags

• BIG LOT
• MULTIPLE STAIRS
• WATER SYSTEM UPDATED
• ELECTRIC UPDATED
• BIG PARKING AREA
• EASY ACCESS TO MAJOR FREEWAYS

What this means for you Summary

Snapshot

• This is a 9-bed/2.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 10.1% in Detroit — 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 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); 290 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,830/mo this rent would consume 56% of the median local household income ($39k/yr) (locally 3064% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $809 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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 $8k; list at $117k implies a 1460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,980 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.56% ✓
• Cap rate: 13.51%
• Cash-on-cash: 25.76%
• DSCR: 2.15
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.80×
• Total profit: $26,283
• Equity at exit: $17,445

10-year hold

• IRR: 28.1%
• Equity multiple: 3.52×
• Total profit: $82,416
• Equity at exit: $10,116

Cash invested: $32,760 (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: 290
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$614
• Tax from tax record: −$80 /mo · $963/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $703

Break-even live

Break-even rent $940

Max offer price $117,000

Occupancy floor 57%

Sensitivity live

Price	-10% $770	-5% $736	+0% $703	+5% $670	+10% $637
Rent	-10% $559	-5% $631	+0% $703	+5% $776	+10% $848
Rate	-1.0pp $762	-0.5pp $733	base $703	+0.5pp $673	+1.0pp $642

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $117,000 Active 79 DOM
2. 2026-06-18
   days on market $117,000 Active 76 DOM
3. 2026-06-17
   days on market $117,000 Active 75 DOM
4. 2026-06-15
   days on market $117,000 Active 73 DOM
5. 2026-06-13
   days on market $117,000 Active 71 DOM
6. 2026-06-13
   days on market $117,000 Active 70 DOM
7. 2026-06-09
   days on market $117,000 Active 67 DOM
8. 2026-06-08
   days on market $117,000 Active 66 DOM
9. 2026-06-07
   days on market $117,000 Active 65 DOM
10. 2026-06-04
    days on market $117,000 Active 62 DOM
11. 2026-06-03
    days on market $117,000 Active 61 DOM
12. 2026-06-02
    days on market $117,000 Active 60 DOM
13. 2026-06-01
    days on market $117,000 Active 59 DOM
14. 2026-05-31
    days on market $117,000 Active 58 DOM
15. 2026-04-03
    listed $117,000 Active 724-char remark

    Show marketing remark (742 chars)

    Really well located Big house 9 bedrooms 3 bathrooms and big lot perfect for to MULTIPLE STAIRS. DO YOU HAVE A BIG IMAGINATION? BECAUSE THE AREA IS GREAT. JUST NEEDS LOVE. WATER SISTEM IS UPDATED, ELECTRIC UPDATED. NEW ITEMS THROUGHOUT. GOOD STRUCTURE. BIG PARKING AREA FOR 6 O MORE CARS This home is conveniently located with easy access to major freeways and close to hospitals, restaurants, shopping, and more, . 24 HOUR NOTICE TO SHOW, NO EXCEPTIONS! The buyer’s agent must be physically present for all showings. PLEASE LEAVE A business card. ALL FORNITURE CAN BE NEGOTIATED. For any questions or concerns, please contact us at 313-455-10-93. buyer’s agent is responsible for verifying all information and measurements.

16. 2026-04-03
    listed $117,000 Active 742-char remark

    Show marketing remark (742 chars)

    Really well located Big house 9 bedrooms 3 bathrooms and big lot perfect for to MULTIPLE STAIRS. DO YOU HAVE A BIG IMAGINATION? BECAUSE THE AREA IS GREAT. JUST NEEDS LOVE. WATER SISTEM IS UPDATED, ELECTRIC UPDATED. NEW ITEMS THROUGHOUT. GOOD STRUCTURE. BIG PARKING AREA FOR 6 O MORE CARS This home is conveniently located with easy access to major freeways and close to hospitals, restaurants, shopping, and more, . 24 HOUR NOTICE TO SHOW, NO EXCEPTIONS! The buyer’s agent must be physically present for all showings. PLEASE LEAVE A business card. ALL FORNITURE CAN BE NEGOTIATED. For any questions or concerns, please contact us at 313-455-10-93. buyer’s agent is responsible for verifying all information and measurements.

17. 2013-09-05
    historical
18. 2013-09-05
    historical
19. 2013-03-05
    listed $7,599
20. 2013-03-05
    listed $7,599
21. 2011-03-13
    historical
22. 2011-03-10
    historical
23. 2010-11-03
    listed $5,000
24. 2010-11-03
    listed $5,000
25. 1993-11-24
    soldstatus $7,500

ⓘ 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: $963 · $80/mo
• Projected year-2 tax: $1,382 · $115/mo
• Expected delta: +$419/yr (+$35/mo · 43.6%)

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 14 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: $21,962
• − Mortgage interest: −$6,554
• − Property taxes: −$963
• − Insurance: −$585
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$3,404
• Taxable income: $6,943
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $6,773/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

+1460.0% since first listed

11 events — show timeline

• 2026-04-03 Listed $117,000 REALCOMP
• 2026-04-03 Listed $117,000 MiRealSource-MiMLS
• 2013-09-05 Listing Removed — REALCOMP
• 2013-09-05 Listing Removed — MiRealSource-MiMLS
• 2013-03-05 Listed $7,599 REALCOMP
• 2013-03-05 Listed $7,599 MiRealSource-MiMLS
• 2011-03-13 Listing Removed — MiRealSource-MiMLS
• 2011-03-10 Listing Removed — REALCOMP
• 2010-11-03 Listed $5,000 REALCOMP
• 2010-11-03 Listed $5,000 MiRealSource-MiMLS
• 1993-11-24 Sold (Public Records) $7,500 Public Records

Property tax history

-2.5%/yr

Latest (2025): $963 · -55.0% YoY. Source: county tax records.