18926 Fleming St · Detroit, MI 48234

$65,000

3 bd · 1.0 ba · 1,010 sqft · SingleFamily public records · 108 Days on market

Built 1946 4,356 sqft lot $64/sqft · 122% above area Est $53k · 22% 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
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• 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

Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

Key facts

• Large bedrooms
• Upper master bedroom
• Formal dining room

Tags

• UPPER MASTER BEDROOM
• LARGE BEDROOMS
• LIVING ROOM
• FORMAL DINING ROOM
• PARTIALLY FINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 10.2% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 44% of the median local income ($35k/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 $449 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 + 6.7% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 17y 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 $2k; list at $65k implies a 4233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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: 2.00% ✓
• Cap rate: 17.29%
• Cash-on-cash: 39.29%
• DSCR: 2.75
• GRM: 4.2

CMA / ARV

• ARV (median comp): $53,220
• List price: $65,000
• Delta: 22.14%
• 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
19365 Goddard St	0.29mi	3/1.0	1,100 (+9%)	1mo	$97,500	$89	71
18128 Fleming St	0.32mi	2/1.0 (-1)	950 (-6%)	1mo	$21,500	$23	69
18877 Fleming St	0.05mi	2/1.0 (-1)	870 (-14%)	3mo	$9,900	$11	67
19163 Orleans St	0.35mi	2/1.0 (-1)	1,080 (+7%)	2mo	$32,500	$30	65
19662 Charest St	0.60mi	3/1.0	1,041 (+3%)	2mo	$69,000	$66	65
19360 Revere St	0.63mi	3/1.0	1,050 (+4%)	2mo	$78,000	$74	62
19181 Marx St	0.30mi	3/1.0	1,152 (+14%)	1mo	$40,500	$35	62
17888 Marx St	0.54mi	3/1.0	937 (-7%)	2mo	$34,000	$36	61
19619 Norwood St	0.72mi	3/1.0	941 (-7%)	2mo	$30,500	$32	54
19145 Riopelle St	0.41mi	3/2.0	1,152 (+14%)	2mo	$80,000	$69	52
18660 Klinger St	0.55mi	4/2.0 (+1)	880 (-13%)	0mo	$21,000	$24	44
19710 Greeley St	0.65mi	3/1.5	1,143 (+13%)	3mo	$80,000	$70	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 39.6%
• Equity multiple: 2.78×
• Total profit: $32,470
• Equity at exit: $9,692

10-year hold

• IRR: 47.8%
• Equity multiple: 6.47×
• Total profit: $99,527
• Equity at exit: $5,620

Cash invested: $18,200 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,299 high
• Mortgage (P&I): −$341
• Tax from tax record: −$63 /mo · $753/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $596

Break-even live

Break-even rent $545

Max offer price $65,000

Occupancy floor 49%

Sensitivity live

Price	-10% $633	-5% $614	+0% $596	+5% $577	+10% $559
Rent	-10% $493	-5% $545	+0% $596	+5% $647	+10% $698
Rate	-1.0pp $629	-0.5pp $612	base $596	+0.5pp $579	+1.0pp $562

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.13mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.24mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.25mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	0.35mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.35mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.47mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	0.64mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.67mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.67mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	25d	1	0.71mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.72mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	25d	1	0.90mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.92mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.95mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.98mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	44d	1	1.16mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	1.18mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.20mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	1.28mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	25d	1	1.32mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	1.34mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	1.35mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.37mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	1.44mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	2d	1	1.46mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	1.46mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.46mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.46mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	44d	1	1.47mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	1.47mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	25d	1	1.48mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $65,000 Active 108 DOM
2. 2026-06-17
   days on market $65,000 Active 107 DOM
3. 2026-06-15
   days on market $65,000 Active 105 DOM
4. 2026-06-13
   days on market $65,000 Active 103 DOM
5. 2026-06-13
   days on market $65,000 Active 102 DOM
6. 2026-06-09
   days on market $65,000 Active 99 DOM
7. 2026-06-08
   days on market $65,000 Active 98 DOM
8. 2026-06-07
   days on market $65,000 Active 97 DOM
9. 2026-06-04
   days on market $65,000 Active 94 DOM
10. 2026-06-03
    days on market $65,000 Active 93 DOM
11. 2026-06-01
    days on market $65,000 Active 91 DOM
12. 2026-05-31
    days on market $65,000 Active 90 DOM
13. 2026-03-12
    status Active 248-char remark

    Show marketing remark (250 chars)

    Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

14. 2026-03-12
    status Active 250-char remark

    Show marketing remark (250 chars)

    Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

15. 2026-03-08
    historical Accepting Backup Offers 248-char remark

    Show marketing remark (250 chars)

    Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

16. 2026-03-08
    historical Active Under Contract 250-char remark

    Show marketing remark (250 chars)

    Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

17. 2026-03-02
    listed $65,000 Active 248-char remark

    Show marketing remark (250 chars)

    Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

18. 2026-03-02
    listed $65,000 Active 250-char remark

    Show marketing remark (250 chars)

    Charming 3 bedroom bungalow that features a spacious upper master bedroom and two large bedrooms on the first floor. The Large living room and formal dining room is perfect for hosting gatherings. Partially finished basement has loads of potential.

19. 2025-11-15
    historical $975
20. 2025-11-01
    listed $975
21. 2025-11-01
    historical $975
22. 2025-10-12
    price $975
23. 2025-09-24
    price $1,150
24. 2025-06-14
    listed $1,200
25. 2025-05-15
    historical
26. 2025-05-12
    price $55,000
27. 2025-05-12
    price $55,000
28. 2025-04-25
    price $59,900
29. 2025-04-25
    price $59,900
30. 2025-01-22
    listed $60,000 Active
31. 2025-01-22
    listed $60,000 Active
32. 2023-11-16
    historical
33. 2023-11-16
    historical
34. 2023-08-22
    price $55,000
35. 2023-08-22
    price $55,000
36. 2023-08-05
    listed $60,000 Active
37. 2023-08-05
    listed $60,000 Active
38. 2023-08-02
    historical
39. 2023-08-02
    historical
40. 2010-05-04
    soldstatus $1,500
41. 2010-05-04
    soldstatus $1,500
42. 2010-04-01
    historical
43. 2010-03-05
    listed $2,900
44. 2010-03-05
    listed $2,900
45. 2009-12-31
    historical
46. 2009-11-09
    listed $2,900
47. 2009-11-01
    historical
48. 2009-06-04
    listed $3,997
49. 2007-04-19
    soldstatus $72,000
50. 2002-05-08
    soldstatus $23,000

ⓘ 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: $753 · $63/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: +$124/yr (+$10/mo · 16.5%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,593
• − Mortgage interest: −$3,641
• − Property taxes: −$753
• − Insurance: −$325
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$1,891
• Taxable income: $6,488
• Est. tax owed @ 24.0%: −$1,557
• After-tax cash flow: $5,593/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · French/Haitian/Cajun 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+182.6% since first listed

38 events — show timeline

• 2026-03-12 Relisted — MiRealSource-MiMLS
• 2026-03-12 Relisted — REALCOMP
• 2026-03-08 Contingent — MiRealSource-MiMLS
• 2026-03-08 Contingent — REALCOMP
• 2026-03-02 Listed $65,000 REALCOMP
• 2026-03-02 Listed $65,000 MiRealSource-MiMLS
• 2025-11-15 Rental Removed $975 BUILDIUM
• 2025-11-01 Listed for Rent $975 BUILDIUM
• 2025-11-01 Rental Removed $975 TENANTTURNER2
• 2025-10-12 Price Changed $975 TENANTTURNER2
• 2025-09-24 Price Changed $1,150 TENANTTURNER2
• 2025-06-14 Listed for Rent $1,200 TENANTTURNER2
• 2025-05-15 Listing Removed — MiRealSource-MiMLS
• 2025-05-12 Price Changed $55,000 MiRealSource-MiMLS
• 2025-05-12 Price Changed $55,000 REALCOMP
• 2025-04-25 Price Changed $59,900 MiRealSource-MiMLS
• 2025-04-25 Price Changed $59,900 REALCOMP
• 2025-01-22 Listed $60,000 REALCOMP
• 2025-01-22 Listed $60,000 MiRealSource-MiMLS
• 2023-11-16 Listing Removed — MiRealSource-MiMLS
• 2023-11-16 Listing Removed — REALCOMP
• 2023-08-22 Price Changed $55,000 MiRealSource-MiMLS
• 2023-08-22 Price Changed $55,000 REALCOMP
• 2023-08-05 Listed $60,000 MiRealSource-MiMLS
• 2023-08-05 Listed $60,000 REALCOMP
• 2023-08-02 Coming Soon — MiRealSource-MiMLS
• 2023-08-02 Coming Soon — REALCOMP
• 2010-05-04 Sold (MLS) $1,500 REALCOMP
• 2010-05-04 Sold (MLS) $1,500 MiRealSource-MiMLS
• 2010-04-01 Listing Removed — MiRealSource-MiMLS
• 2010-03-05 Listed $2,900 REALCOMP
• 2010-03-05 Listed $2,900 MiRealSource-MiMLS
• 2009-12-31 Listing Removed — REALCOMP
• 2009-11-09 Listed $2,900 REALCOMP
• 2009-11-01 Listing Removed — REALCOMP
• 2009-06-04 Listed $3,997 REALCOMP
• 2007-04-19 Sold (Public Records) $72,000 Public Records
• 2002-05-08 Sold (Public Records) $23,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $753 · -50.2% YoY. Source: county tax records.