19455 Mccormick St · Detroit, MI 48224

$59,900

2 bd · 1.0 ba · 709 sqft · SingleFamily public records · 21 Days on market

Built 1943 6,098 sqft lot Est $65k · 8% 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 +11.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brick ranch on Detroit's east side near the Harper Woods border featuring 2 bedrooms, 1 bath, full basement, and spacious lot. Functional layout with strong rental, flip, or owner-occupant potential. Conveniently located near shopping, schools, and major roadways. Great value-add opportunity in an established neighborhood.

Key facts

• Full basement
• Spacious lot
• Conveniently located

Tags

• FULL BASEMENT
• SPACIOUS LOT
• STRONG RENTAL POTENTIAL
• CONVENIENTLY LOCATED
• VALUE-ADD OPPORTUNITY
• ESTABLISHED NEIGHBORHOOD

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: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.14 acres (55 x 114)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 flat; 484 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 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 + 0.7% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y 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 $29k; list at $60k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — 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: 1.76% ✓
• Cap rate: 13.97%
• Cash-on-cash: 27.43%
• DSCR: 2.22
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $65,228
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19379 Mccormick St	0.07mi	2/1.0	696 (-2%)	4mo	$118,900	$171	90
19331 Mccormick St	0.11mi	2/1.0	696 (-2%)	6mo	$20,000	$29	87
19404 Roscommon St	0.25mi	2/1.0	700 (-1%)	4mo	$85,000	$121	82
19380 Roscommon St	0.26mi	2/1.0	684 (-4%)	5mo	$100,500	$147	78
18996 Roscommon St	0.39mi	2/1.0	698 (-2%)	5mo	$98,000	$140	75
19139 Kenosha St	0.28mi	2/1.0	681 (-4%)	7mo	$95,000	$140	74
18700 Mccormick St	0.51mi	2/1.0	706 (-0%)	5mo	$63,000	$89	72
12505 Laing St	0.49mi	3/1.0 (+1)	752 (+6%)	3mo	$54,600	$73	59
18547 Mccormick St	0.58mi	3/1.0 (+1)	689 (-3%)	7mo	$30,000	$44	58
11624 Wayburn St	0.68mi	3/1.0 (+1)	756 (+7%)	3mo	$17,000	$22	50
10878 Balfour Rd	0.64mi	3/1.0 (+1)	784 (+11%)	6mo	$70,000	$89	43
10827 Balfour Rd	0.68mi	3/1.0 (+1)	784 (+11%)	7mo	$72,500	$92	40

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 1.74×
• Total profit: $12,395
• Equity at exit: $8,931

10-year hold

• IRR: 25.5%
• Equity multiple: 2.98×
• Total profit: $33,161
• Equity at exit: $5,179

Cash invested: $16,772 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,053 high
• Mortgage (P&I): −$314
• Tax from tax record: −$110 /mo · $1,315/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $383

Break-even live

Break-even rent $568

Max offer price $59,900

Occupancy floor 59%

Sensitivity live

Price	-10% $417	-5% $400	+0% $383	+5% $366	+10% $349
Rent	-10% $300	-5% $342	+0% $383	+5% $425	+10% $467
Rate	-1.0pp $414	-0.5pp $399	base $383	+0.5pp $368	+1.0pp $352

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.48mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.55mi
16241 Seven Mile E Unit 4 Detroit, MI	1.0	1.0	650	$650	$1.00	44d	1	0.68mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.70mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	4d	1	1.06mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	44d	1	1.22mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	15d	1	1.43mi

Listing history 50 events

1. 2026-06-18
   days on market $59,900 Active 21 DOM
2. 2026-06-17
   days on market $59,900 Active 20 DOM
3. 2026-06-15
   days on market $59,900 Active 18 DOM
4. 2026-06-13
   days on market $59,900 Active 16 DOM
5. 2026-06-13
   days on market $59,900 Active 15 DOM
6. 2026-06-09
   days on market $59,900 Active 12 DOM
7. 2026-06-08
   days on market $59,900 Active 11 DOM
8. 2026-06-07
   days on market $59,900 Active 10 DOM
9. 2026-06-04
   days on market $59,900 Active 7 DOM
10. 2026-06-03
    days on market $59,900 Active 6 DOM
11. 2026-06-02
    days on market $59,900 Active 5 DOM
12. 2026-06-01
    days on market $59,900 Active 4 DOM
13. 2026-05-31
    days on market $59,900 Active 3 DOM
14. 2026-05-28
    listed $59,900 Active 324-char remark

    Show marketing remark (324 chars)

    Brick ranch on Detroit's east side near the Harper Woods border featuring 2 bedrooms, 1 bath, full basement, and spacious lot. Functional layout with strong rental, flip, or owner-occupant potential. Conveniently located near shopping, schools, and major roadways. Great value-add opportunity in an established neighborhood.

15. 2026-05-28
    listed $59,900 Active

    Show marketing remark (324 chars)

    Brick ranch on Detroit's east side near the Harper Woods border featuring 2 bedrooms, 1 bath, full basement, and spacious lot. Functional layout with strong rental, flip, or owner-occupant potential. Conveniently located near shopping, schools, and major roadways. Great value-add opportunity in an established neighborhood.

16. 2025-10-07
    soldstatus $29,000 Closed 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

17. 2025-10-07
    soldstatus $29,000 Closed

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

18. 2025-09-28
    status Pending

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

19. 2025-09-28
    status Pending 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

20. 2025-08-05
    price $44,000

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

21. 2025-08-05
    price $44,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

22. 2025-05-07
    price $48,000
23. 2025-05-06
    price $48,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

24. 2025-04-17
    price $50,000
25. 2025-04-16
    price $50,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

26. 2024-09-12
    price $53,000

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

27. 2024-09-12
    price $53,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

28. 2024-08-09
    price $55,000
29. 2024-08-08
    price $55,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

30. 2024-07-08
    price $58,000

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

31. 2024-07-08
    price $58,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

32. 2024-05-30
    price $59,000
33. 2024-05-29
    price $59,000 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

34. 2024-04-09
    listed $62,500 Active 104-char remark

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

35. 2024-04-09
    listed $62,500 Active

    Show marketing remark (104 chars)

    Brick ranch on Detroit's east side. Nice location near the Detroit / Harper Woods border. Full basement.

36. 2024-03-30
    historical
37. 2024-03-30
    historical
38. 2024-01-30
    price $62,500
39. 2024-01-30
    price $62,500
40. 2023-10-31
    listed $65,000 Active
41. 2023-10-31
    listed $65,000 Active
42. 2018-06-06
    soldstatus $28,000 Sold
43. 2018-06-06
    soldstatus $28,000 Closed
44. 2018-06-06
    soldstatus $28,000 Closed
45. 2018-05-14
    status Pending
46. 2018-05-14
    status Pending
47. 2018-05-14
    status Pending
48. 2018-05-02
    listed $35,000 Active
49. 2018-05-02
    listed $35,000 Active
50. 2018-05-02
    listed $35,000 Active

ⓘ 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: $1,315 · $110/mo
• Projected year-2 tax: $1,315 · $110/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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,638
• − Mortgage interest: −$3,355
• − Property taxes: −$1,315
• − Insurance: −$300
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$1,743
• Taxable income: $3,904
• Est. tax owed @ 24.0%: −$937
• After-tax cash flow: $3,663/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+117.8% since first listed

39 events — show timeline

• 2026-05-28 Listed $59,900 REALCOMP
• 2026-05-28 Listed $59,900 MiRealSource-MiMLS
• 2025-10-07 Sold (MLS) $29,000 MiRealSource-MiMLS
• 2025-10-07 Sold (MLS) $29,000 REALCOMP
• 2025-09-28 Pending — MiRealSource-MiMLS
• 2025-09-28 Pending — REALCOMP
• 2025-08-05 Price Changed $44,000 MiRealSource-MiMLS
• 2025-08-05 Price Changed $44,000 REALCOMP
• 2025-05-07 Price Changed $48,000 MiRealSource-MiMLS
• 2025-05-06 Price Changed $48,000 REALCOMP
• 2025-04-17 Price Changed $50,000 MiRealSource-MiMLS
• 2025-04-16 Price Changed $50,000 REALCOMP
• 2024-09-12 Price Changed $53,000 MiRealSource-MiMLS
• 2024-09-12 Price Changed $53,000 REALCOMP
• 2024-08-09 Price Changed $55,000 MiRealSource-MiMLS
• 2024-08-08 Price Changed $55,000 REALCOMP
• 2024-07-08 Price Changed $58,000 MiRealSource-MiMLS
• 2024-07-08 Price Changed $58,000 REALCOMP
• 2024-05-30 Price Changed $59,000 MiRealSource-MiMLS
• 2024-05-29 Price Changed $59,000 REALCOMP
• 2024-04-09 Listed $62,500 MiRealSource-MiMLS
• 2024-04-09 Listed $62,500 REALCOMP
• 2024-03-30 Listing Removed — MiRealSource-MiMLS
• 2024-03-30 Listing Removed — REALCOMP
• 2024-01-30 Price Changed $62,500 MiRealSource-MiMLS
• 2024-01-30 Price Changed $62,500 REALCOMP
• 2023-10-31 Listed $65,000 MiRealSource-MiMLS
• 2023-10-31 Listed $65,000 REALCOMP
• 2018-06-06 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2018-06-06 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2018-06-06 Sold (MLS) $28,000 REALCOMP
• 2018-05-14 Pending — MiRealSource-MiMLS
• 2018-05-14 Pending — REALCOMP
• 2018-05-14 Pending — MiRealSource-MiMLS
• 2018-05-02 Listed $35,000 MiRealSource-MiMLS
• 2018-05-02 Listed $35,000 MiRealSource-MiMLS
• 2018-05-02 Listed $35,000 REALCOMP
• 2000-03-13 Sold (Public Records) $46,000 Public Records
• 1994-02-11 Sold (Public Records) $27,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,315 · -54.0% YoY. Source: county tax records.