17405 Greeley St · Detroit, MI 48203

$45,000

3 bd · 1.0 ba · 1,491 sqft · SingleFamily public records

Built 1918 3,920 sqft lot Est $75k · 40% 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 +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-Bedroom Home with Great Potential!Listed at $45,000, this 3-bedroom, 1.5-bath home offers both investors and first-time buyers an incredible opportunity. Features include an attached garage with a brand-new garage door, a new detached garage in the back, and a recently installed security system. Major updates have already been completed: new windows, doors, furnace, electric panel, and garage doors. The roof was repaired just 2 years ago, giving you peace of mind. With solid bones and modern upgrades already in place, this property is a perfect blank canvas ready for your personal touch.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1918

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $731 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 25.8% 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: 216 active listings in the ZIP; 20 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 42% 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 $311 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 7y 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 $7k; list at $45k implies a 543% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1918 — 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: 2.98% ✓
• Cap rate: 25.78%
• Cash-on-cash: 69.60%
• DSCR: 4.10
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $74,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17803 Saint Aubin St	0.33mi	4/2.0 (+1)	1,518 (+2%)	6mo	$50,001	$33	68
18615 Orleans St	0.58mi	3/1.5	1,516 (+2%)	3mo	$86,500	$57	66
17496 Saint Aubin St	0.33mi	4/1.5 (+1)	1,377 (-8%)	5mo	$25,000	$18	60
17428 Goddard St	0.48mi	3/1.5	1,409 (-6%)	13mo	$75,000	$53	56
18101 Marx St	0.39mi	3/1.5	1,291 (-13%)	2mo	$37,500	$29	55
18595 Dequindre St	0.60mi	3/1.5	1,393 (-7%)	13mo	$70,000	$50	48
18051 Orleans St	0.33mi	4/2.0 (+1)	1,300 (-13%)	9mo	$39,000	$30	47
50 E Nevada St	0.71mi	3/2.5	1,465 (-2%)	15mo	$130,000	$89	45
17520 Goddard Street St	0.49mi	4/2.0 (+1)	1,302 (-13%)	3mo	$54,900	$42	45
18184 Riopelle St	0.44mi	3/1.0	1,700 (+14%)	16mo	$65,000	$38	43
116 Church St	0.71mi	3/1.5	1,400 (-6%)	15mo	$106,500	$76	42
18844 Hull St	0.65mi	3/2.0	1,603 (+8%)	18mo	$125,000	$78	38

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: 69.1%
• Equity multiple: 4.12×
• Total profit: $39,283
• Equity at exit: $6,710

10-year hold

• IRR: 73.2%
• Equity multiple: 8.48×
• Total profit: $94,267
• Equity at exit: $3,891

Cash invested: $12,600 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$236
• Tax from tax record: −$74 /mo · $891/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $731

Break-even live

Break-even rent $416

Max offer price $45,000

Occupancy floor 41%

Sensitivity live

Price	-10% $756	-5% $744	+0% $731	+5% $718	+10% $705
Rent	-10% $625	-5% $678	+0% $731	+5% $784	+10% $837
Rate	-1.0pp $753	-0.5pp $742	base $731	+0.5pp $719	+1.0pp $707

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.44mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.51mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.58mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.70mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.71mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.72mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.98mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.10mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.10mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	1.13mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	1.21mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.25mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	25d	1	1.26mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.31mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.32mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	1.40mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.43mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	1.46mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.50mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	1.50mi

Listing history 27 events

1. 2026-03-04
   historical

   Show marketing remark (605 chars)

   Charming 3-Bedroom Home with Great Potential!Listed at $45,000, this 3-bedroom, 1.5-bath home offers both investors and first-time buyers an incredible opportunity. Features include an attached garage with a brand-new garage door, a new detached garage in the back, and a recently installed security system. Major updates have already been completed: new windows, doors, furnace, electric panel, and garage doors. The roof was repaired just 2 years ago, giving you peace of mind. With solid bones and modern upgrades already in place, this property is a perfect blank canvas ready for your personal touch.

2. 2026-03-04
   listed $45,000

   Show marketing remark (605 chars)

   Charming 3-Bedroom Home with Great Potential!Listed at $45,000, this 3-bedroom, 1.5-bath home offers both investors and first-time buyers an incredible opportunity. Features include an attached garage with a brand-new garage door, a new detached garage in the back, and a recently installed security system. Major updates have already been completed: new windows, doors, furnace, electric panel, and garage doors. The roof was repaired just 2 years ago, giving you peace of mind. With solid bones and modern upgrades already in place, this property is a perfect blank canvas ready for your personal touch.

3. 2026-03-04
   historical 605-char remark

   Show marketing remark (605 chars)

   Charming 3-Bedroom Home with Great Potential!Listed at $45,000, this 3-bedroom, 1.5-bath home offers both investors and first-time buyers an incredible opportunity. Features include an attached garage with a brand-new garage door, a new detached garage in the back, and a recently installed security system. Major updates have already been completed: new windows, doors, furnace, electric panel, and garage doors. The roof was repaired just 2 years ago, giving you peace of mind. With solid bones and modern upgrades already in place, this property is a perfect blank canvas ready for your personal touch.

4. 2026-03-04
   listed $45,000 605-char remark

   Show marketing remark (605 chars)

   Charming 3-Bedroom Home with Great Potential!Listed at $45,000, this 3-bedroom, 1.5-bath home offers both investors and first-time buyers an incredible opportunity. Features include an attached garage with a brand-new garage door, a new detached garage in the back, and a recently installed security system. Major updates have already been completed: new windows, doors, furnace, electric panel, and garage doors. The roof was repaired just 2 years ago, giving you peace of mind. With solid bones and modern upgrades already in place, this property is a perfect blank canvas ready for your personal touch.

5. 2026-02-06
   historical
6. 2026-02-05
   historical
7. 2025-11-06
   price $35,000
8. 2025-11-05
   price $35,000
9. 2025-11-05
   price $35,000
10. 2025-08-05
    listed $45,000 Active
11. 2025-08-05
    listed $45,000 Active
12. 2021-01-18
    historical
13. 2020-12-09
    status Pending
14. 2020-12-09
    status Pending
15. 2020-12-09
    historical
16. 2020-11-28
    price $6,000
17. 2020-11-27
    price $6,000
18. 2020-10-26
    price $7,000
19. 2020-10-26
    price $7,000
20. 2020-09-23
    listed $6,800 Active
21. 2020-09-23
    listed $6,800 Active
22. 2019-08-09
    soldstatus $7,000 Sold
23. 2019-08-09
    soldstatus $7,000 Closed
24. 2019-07-16
    status Pending
25. 2019-07-16
    status Pending
26. 2019-07-01
    listed $6,000 Active
27. 2019-07-01
    listed $6,000 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: $891 · $74/mo
• Projected year-2 tax: $891 · $74/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: $16,098
• − Mortgage interest: −$2,521
• − Property taxes: −$891
• − Insurance: −$225
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$1,309
• Taxable income: $8,576
• Est. tax owed @ 24.0%: −$2,058
• After-tax cash flow: $6,711/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

+650.0% since first listed

27 events — show timeline

• 2026-03-04 Listed $45,000 MiRealSource-MiMLS
• 2026-03-04 Listing Removed — MiRealSource-MiMLS
• 2026-03-04 Listed $45,000 REALCOMP
• 2026-03-04 Listing Removed — REALCOMP
• 2026-02-06 Listing Removed — MiRealSource-MiMLS
• 2026-02-05 Listing Removed — REALCOMP
• 2025-11-06 Price Changed $35,000 MiRealSource-MiMLS
• 2025-11-05 Price Changed $35,000 REALCOMP
• 2025-11-05 Price Changed $35,000 SW Michigan MLS
• 2025-08-05 Listed $45,000 REALCOMP
• 2025-08-05 Listed $45,000 MiRealSource-MiMLS
• 2021-01-18 Listing Removed — REALCOMP
• 2020-12-09 Pending — MiRealSource-MiMLS
• 2020-12-09 Pending — REALCOMP
• 2020-12-09 Listing Removed — MiRealSource-MiMLS
• 2020-11-28 Price Changed $6,000 MiRealSource-MiMLS
• 2020-11-27 Price Changed $6,000 REALCOMP
• 2020-10-26 Price Changed $7,000 MiRealSource-MiMLS
• 2020-10-26 Price Changed $7,000 REALCOMP
• 2020-09-23 Listed $6,800 MiRealSource-MiMLS
• 2020-09-23 Listed $6,800 REALCOMP
• 2019-08-09 Sold (MLS) $7,000 MiRealSource-MiMLS
• 2019-08-09 Sold (MLS) $7,000 REALCOMP
• 2019-07-16 Pending — MiRealSource-MiMLS
• 2019-07-16 Pending — REALCOMP
• 2019-07-01 Listed $6,000 MiRealSource-MiMLS
• 2019-07-01 Listed $6,000 REALCOMP

Property tax history

+3.3%/yr

Latest (2025): $891 · +1.7% YoY. Source: county tax records.