17386 Steel St · Detroit, MI 48235

$70,000

3 bd · 1.0 ba · 977 sqft · SingleFamily public records · 1 Days on market

Built 1939 4,792 sqft lot Est $107k · 35% under

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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
• ARV discount +15.0/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

Key facts

• Hardwood flooring
• Brick bungalow
• Skylight windows

Tags

• BRICK BUNGALOW
• LIVING ROOM WITH FIREPLACE
• FORMAL DINING ROOM
• 2ND FLOOR PRIMARY BEDROOM
• SKYLIGHT WINDOWS
• HARDWOOD FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 15.4% 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 (+3.2%/yr); 283 active listings in the ZIP; 33 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 38% 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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.79% ✓
• Cap rate: 15.44%
• Cash-on-cash: 32.68%
• DSCR: 2.45
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $107,470
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17365 Meyers Rd	0.09mi	2/1.0 (-1)	942 (-4%)	4mo	$49,000	$52	82
16919 Littlefield St	0.35mi	3/2.0	980 (+0%)	5mo	$199,900	$204	75
18081 Meyers Rd	0.26mi	2/1.5 (-1)	946 (-3%)	6mo	$75,000	$79	70
17147 Appoline St	0.17mi	3/2.0	1,100 (+13%)	1mo	$170,000	$155	66
16230 Cheyenne St	0.60mi	3/1.0	1,000 (+2%)	6mo	$135,000	$135	63
18000 Ilene St	0.53mi	3/2.0	1,057 (+8%)	2mo	$135,000	$128	56
16854 Lesure St	0.57mi	3/1.0	886 (-9%)	3mo	$105,000	$119	56
18235 Tracey St	0.58mi	3/2.0	1,055 (+8%)	4mo	$67,000	$64	53
16503 Ilene St	0.72mi	2/1.0 (-1)	1,048 (+7%)	0mo	$115,000	$110	49
18034 Tracey St	0.49mi	4/1.0 (+1)	1,116 (+14%)	2mo	$118,600	$106	47
16655 Stansbury St	0.69mi	3/1.0	857 (-12%)	2mo	$45,000	$53	46
16510 Littlefield St	0.56mi	2/1.0 (-1)	861 (-12%)	4mo	$45,000	$52	45

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: 28.1%
• Equity multiple: 2.17×
• Total profit: $22,975
• Equity at exit: $10,437

10-year hold

• IRR: 35.7%
• Equity multiple: 4.32×
• Total profit: $65,098
• 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: 4.7×

Monthly cashflow live

• Estimated rent: $1,253 high
• Mortgage (P&I): −$367
• Tax from tax record: −$60 /mo · $714/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $534

Break-even live

Break-even rent $577

Max offer price $70,000

Occupancy floor 52%

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 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	0.23mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	0.54mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.57mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	44d	1	0.61mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.62mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	0.65mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.80mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.93mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	0.93mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.94mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	0.94mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	44d	1	1.02mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	1.03mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.04mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	1.04mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	1.05mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	1.11mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	1.12mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	1.16mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	5d	1	1.18mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	17d	1	1.23mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	1.24mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.28mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	17d	1	1.32mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	1.42mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.42mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	1.44mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.46mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	1.46mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	1.47mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	1.48mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	5d	1	1.48mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	1.49mi

Listing history 8 events

1. 2026-05-10
   status Pending 536-char remark

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

2. 2026-05-10
   status Pending

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

3. 2026-05-04
   soldstatus Closed 536-char remark

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

4. 2026-05-04
   soldstatus Closed

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

5. 2025-11-19
   status Pending 536-char remark

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

6. 2025-11-19
   status Pending

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

7. 2025-11-18
   listed $70,000 Active 536-char remark

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

8. 2025-11-18
   listed $70,000 Active

   Show marketing remark (536 chars)

   3 Bedroom Brick bungalow home in the Northwest side of Detroit. Living room with a fireplace. Formal dining room area. 2nd Floor primary bedroom with skylight windows. Hardwood flooring throughout most of the home. Most windows updated including glass block basement windows. 2 car detached garage. Fenced in backyard in a good looking neighborhood. Come shine this diamond into a fantastic home. Sorry no land contracts. Do not approach home without your agent. Dog sometimes in back yard. Sorry no FHA or VA. Being sold as-is whereis.

ⓘ 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: $714 · $60/mo
• Projected year-2 tax: $896 · $75/mo
• Expected delta: +$182/yr (+$15/mo · 25.5%)

ⓘ 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 ≥97°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: $15,032
• − Mortgage interest: −$3,921
• − Property taxes: −$714
• − Insurance: −$350
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$2,036
• Taxable income: $5,605
• Est. tax owed @ 24.0%: −$1,345
• After-tax cash flow: $5,061/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

+0.0% since first listed

8 events — show timeline

• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-10 Pending — REALCOMP
• 2026-05-04 Sold (MLS) — REALCOMP
• 2026-05-04 Sold (MLS) — MiRealSource-MiMLS
• 2025-11-19 Pending — MiRealSource-MiMLS
• 2025-11-19 Pending — REALCOMP
• 2025-11-18 Listed $70,000 REALCOMP
• 2025-11-18 Listed $70,000 MiRealSource-MiMLS

Property tax history

-4.2%/yr

Latest (2025): $714 · -54.5% YoY. Source: county tax records.