17861 Annott St · Detroit, MI 48205

$50,000

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 118 Days on market

Built 1964 5,227 sqft lot $54/sqft · 25% below area Est $66k · 25% 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 +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently occupied by the maintenance technician. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1964

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.9% 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 (+1.3%/yr); 373 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 39% 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 $346 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 + 1.3% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $45,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 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 1964 — 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: 2.55% ✓
• Cap rate: 20.86%
• Cash-on-cash: 52.04%
• DSCR: 3.32
• GRM: 3.3

CMA / ARV

• ARV (median comp): $66,267
• List price: $50,000
• Delta: -24.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17401 Albion St	0.26mi	2/1.0 (-1)	865 (-6%)	1mo	$50,000	$58	73
17892 Runyon St	0.23mi	3/1.5	995 (+8%)	2mo	$56,000	$56	72
18488 Waltham St	0.49mi	3/1.0	902 (-2%)	4mo	$56,000	$62	71
17694 Teppert St	0.30mi	3/1.0	1,013 (+10%)	6mo	$120,000	$118	64
18982 Hamburg St	0.59mi	3/1.0	952 (+4%)	3mo	$45,000	$47	64
11455 Kenmoor St	0.59mi	3/1.5	955 (+4%)	4mo	$119,000	$125	61
19145 Strasburg St	0.65mi	3/1.5	931 (+1%)	7mo	$90,000	$97	60
19161 Hamburg St	0.69mi	3/1.0	960 (+5%)	2mo	$116,000	$121	59
18709 Runyon St	0.49mi	3/1.0	1,000 (+9%)	7mo	$62,000	$62	57
19140 Algonac St	0.71mi	2/1.0 (-1)	892 (-3%)	1mo	$46,000	$52	56
18696 Blackmoor St	0.67mi	3/1.0	1,010 (+10%)	0mo	$77,500	$77	52
11294 Engleside St	0.72mi	2/1.0 (-1)	986 (+7%)	4mo	$85,000	$86	46

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 48.0%
• Equity multiple: 3.04×
• Total profit: $28,510
• Equity at exit: $7,455

10-year hold

• IRR: 52.9%
• Equity multiple: 5.75×
• Total profit: $66,468
• Equity at exit: $4,323

Cash invested: $14,000 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,275 high
• Mortgage (P&I): −$262
• Tax from tax record: −$117 /mo · $1,409/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $607

Break-even live

Break-even rent $507

Max offer price $50,000

Occupancy floor 47%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.18mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	0.19mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.52mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	0.57mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.57mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.65mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.69mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	21d	1	0.69mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.76mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.76mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.78mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.78mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.85mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	0.92mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.96mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.00mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	1.15mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.25mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.32mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.34mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.42mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.49mi

Listing history 25 events

1. 2026-06-18
   days on market $50,000 Active 118 DOM
2. 2026-06-17
   days on market $50,000 Active 117 DOM
3. 2026-06-15
   days on market $50,000 Active 115 DOM
4. 2026-06-13
   days on market $50,000 Active 113 DOM
5. 2026-06-13
   days on market $50,000 Active 112 DOM
6. 2026-06-09
   days on market $50,000 Active 109 DOM
7. 2026-06-08
   days on market $50,000 Active 108 DOM
8. 2026-06-07
   days on market $50,000 Active 107 DOM
9. 2026-06-04
   days on market $50,000 Active 104 DOM
10. 2026-06-03
    days on market $50,000 Active 103 DOM
11. 2026-06-01
    days on market $50,000 Active 101 DOM
12. 2026-05-31
    days on market $50,000 Active 100 DOM
13. 2026-02-20
    listed $50,000 Active 439-char remark

    Show marketing remark (439 chars)

    GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently occupied by the maintenance technician. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

14. 2026-02-20
    listed $50,000 Active 439-char remark

    Show marketing remark (439 chars)

    GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently occupied by the maintenance technician. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

15. 2025-11-18
    historical
16. 2025-11-18
    historical
17. 2025-04-23
    status Active
18. 2025-04-09
    historical
19. 2024-10-26
    listed $68,000 Active
20. 2024-10-26
    listed $68,000 Active
21. 2024-10-11
    historical
22. 2024-10-11
    historical
23. 2024-02-15
    listed $68,000 Active
24. 2024-02-15
    listed $68,000 Active
25. 2019-12-05
    soldstatus $168,020

ⓘ 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: $1,409 · $117/mo
• Projected year-2 tax: $1,409 · $117/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 ≥96°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: $15,305
• − Mortgage interest: −$2,801
• − Property taxes: −$1,409
• − Insurance: −$250
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$1,455
• Taxable income: $6,942
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $5,619/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

-70.2% since first listed

13 events — show timeline

• 2026-02-20 Listed $50,000 REALCOMP
• 2026-02-20 Listed $50,000 MiRealSource-MiMLS
• 2025-11-18 Listing Removed — REALCOMP
• 2025-11-18 Listing Removed — MiRealSource-MiMLS
• 2025-04-23 Relisted — REALCOMP
• 2025-04-09 Listing Removed — REALCOMP
• 2024-10-26 Listed $68,000 REALCOMP
• 2024-10-26 Listed $68,000 MiRealSource-MiMLS
• 2024-10-11 Listing Removed — MiRealSource-MiMLS
• 2024-10-11 Listing Removed — REALCOMP
• 2024-02-15 Listed $68,000 MiRealSource-MiMLS
• 2024-02-15 Listed $68,000 REALCOMP
• 2019-12-05 Sold (Public Records) $168,020 Public Records

Property tax history

-1.3%/yr

Latest (2025): $1,409 · -9.3% YoY. Source: county tax records.