17387 Greeley St · Detroit, MI 48203

$42,500

2 bd · 1.0 ba · 767 sqft · SingleFamily public records · 15 Days on market

Built 1916 3,920 sqft lot $55/sqft · 7% below area Est $45k · 7% 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 +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR OPPORTUNITY. . TWO BEDROOMS HOME . . IN HIGHLAND PARK - RIGHT OFF I-75.. INFORMATION DEEMED RELIABLE BUT NOT ASSURED. .

Key facts

• 3,920 sq ft lot
• Built 1916
• Listed 14 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.09 acres (30 x 125)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 10.0% 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: 218 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 34% of the median local income ($38k/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 $294 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $41,862 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — 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: 2.56% ✓
• Cap rate: 21.57%
• Cash-on-cash: 54.57%
• DSCR: 3.43
• GRM: 3.3

CMA / ARV

• ARV (median comp): $45,459
• List price: $42,500
• Delta: -6.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17867 Mackay St	0.59mi	2/1.0	771 (+0%)	6mo	$30,000	$39	67
17869 Lumpkin St	0.40mi	2/1.0	786 (+2%)	13mo	$46,900	$60	66
18149 Riopelle St	0.41mi	2/1.0	750 (-2%)	20mo	$25,000	$33	60
18064 Greeley St	0.33mi	2/1.0	680 (-11%)	12mo	$24,000	$35	55
18042 Russell St	0.32mi	3/1.0 (+1)	851 (+11%)	9mo	$45,000	$53	55
17419 Wanda St	0.42mi	3/1.0 (+1)	777 (+1%)	24mo	$52,500	$68	53
18828 Hawthorne St	0.68mi	2/1.0	684 (-11%)	0mo	$50,000	$73	50
18036 Mackay St	0.65mi	2/1.0	716 (-7%)	19mo	$13,000	$18	43
974 E Hildale Ave	0.56mi	2/1.0	832 (+8%)	21mo	$33,000	$40	42
17171 Goddard St	0.48mi	2/1.0	859 (+12%)	20mo	$54,000	$63	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.8%
• Equity multiple: 3.32×
• Total profit: $27,611
• Equity at exit: $6,337

10-year hold

• IRR: 58.1%
• Equity multiple: 6.76×
• Total profit: $68,553
• Equity at exit: $3,675

Cash invested: $11,900 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 218
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,089 high
• Mortgage (P&I): −$223
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $541

Break-even live

Break-even rent $404

Max offer price $42,500

Occupancy floor 45%

Sensitivity live

Price	-10% $565	-5% $553	+0% $541	+5% $529	+10% $517
Rent	-10% $455	-5% $498	+0% $541	+5% $584	+10% $627
Rate	-1.0pp $563	-0.5pp $552	base $541	+0.5pp $530	+1.0pp $519

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	18d	1	0.62mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	18d	1	0.63mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	45d	1	0.72mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.74mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	0.75mi
10 Ferris St Highland Park, MI	1.0	1.0	700	$725	$1.04	14d	1	0.92mi
10 Ferris St Unit 208/209 Highland Park, MI	1.0	1.0	700	$725	$1.04	21d	1	0.92mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.98mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	45d	1	1.18mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	45d	1	1.18mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	45d	1	1.27mi
730 Whitmore Rd Detroit, MI	1.0–2.0	1.0	850	$850	$1.00	45d	3	1.32mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.41mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.45mi
885 Covington Dr Unit 102 Highland Park, MI	1.0	1.0	550	$1,050	$1.91	45d	1	1.45mi
885 Covington Dr Unit 412 Highland Park, MI	1.0	1.0	600	$1,045	$1.74	16d	1	1.45mi
885 Covington Dr Unit 312 Highland Park, MI	1.0	1.0	650	$1,045	$1.61	45d	1	1.45mi
885 Covington Dr Unit 304 Highland Park, MI	1.0	1.0	600	$1,010	$1.68	45d	1	1.45mi
941 Merton Rd Highland Park, MI	2.0	1.0	850	$1,000	$1.18	45d	1	1.46mi
931 Covington Dr Unit 205 Highland Park, MI	1.0	1.0	550	$1,070	$1.95	45d	1	1.49mi
931 Covington Dr Unit 204 Highland Park, MI	1.0	1.0	550	$1,100	$2.00	45d	1	1.49mi
931 Covington Dr Unit 216 Highland Park, MI	1.0	1.0	550	$1,125	$2.05	45d	1	1.49mi
931 Covington Dr Unit 202 Highland Park, MI	2.0	2.0	550	$1,400	$2.55	45d	1	1.49mi
931 Covington Dr Unit 214 Highland Park, MI	1.0	1.0	550	$930	$1.69	45d	1	1.49mi
931 Covington Dr Unit 201 Highland Park, MI	1.0	1.0	550	$1,110	$2.02	45d	1	1.49mi
931 Covington Dr Unit 206 Highland Park, MI	1.0	1.0	550	$1,095	$1.99	45d	1	1.49mi
931 Covington Dr Unit 106 Highland Park, MI	1.0	2.0	1000	$1,275	$1.27	45d	1	1.49mi
931 Covington Dr Unit 210 Highland Park, MI	1.0	1.0	550	$1,090	$1.98	45d	1	1.49mi
17449 Manderson Rd Unit 3 Detroit, MI	1.0	1.0	700	$950	$1.36	4d	1	1.50mi
17449 Manderson Rd Unit 13 Detroit, MI	1.0	1.0	700	$1,010	$1.44	0d	1	1.50mi
17449 Manderson Rd Unit 8 Detroit, MI	1.0	1.0	700	$950	$1.36	21d	1	1.50mi
17449 Manderson Rd Unit 16 Detroit, MI	1.0	1.0	700	$950	$1.36	25d	1	1.50mi
17449 Manderson Rd Unit 3 Detroit, MI	1.0	1.0	700	$1,015	$1.45	25d	1	1.50mi
17449 Manderson Rd Unit 1 Detroit, MI	2.0	1.0	750	$1,150	$1.53	25d	1	1.50mi

Listing history 2 events

1. 2026-05-11
   listed $42,500 Active 128-char remark
2. 2026-05-11
   listed $42,500 Active 128-char remark

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $940 · $78/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 2/10 Low 6 d/yr ≥97°F today · 13 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: $13,064
• − Mortgage interest: −$2,381
• − Property taxes: −$940
• − Insurance: −$212
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,236
• Taxable income: $6,204
• Est. tax owed @ 24.0%: −$1,489
• After-tax cash flow: $5,005/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

3 events — show timeline

• 2026-05-26 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Listed $42,500 MiRealSource-MiMLS
• 2026-05-11 Listed $42,500 REALCOMP

Property tax history

+7.3%/yr

Latest (2025): $940 · +2.3% YoY. Source: county tax records.