16176 Tracey St · Detroit, MI 48235

$89,900

4 bd · 1.0 ba · 1,270 sqft · SingleFamily public records · 171 Days on market

Built 1930 3,485 sqft lot $71/sqft · 35% above area Est $67k · 35% over

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Why this score? — see what drove the C+ 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
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Character-filled bungalow ideal for a savvy investor or hands-on homeowner ready to unlock its full potential. Features a massive unfinished attic with strong upside — easily convertible into two additional bedrooms plus a full bath. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 100,000.00 purchase price, 30,000.00 down payment, 8% interest, 120 Months Term. 849.00/month. Seller financing / Land contract terms are negotiable. Purchaser to pay 395 processing fee at closing. As-is sale. Can be sold separately or combined with 15864 Tracey.

Key facts

• Full bath
• 3,485 sq ft lot
• Built 1930

Tags

• MASSIVE UNFINISHED ATTIC
• FULL BATH

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• At $1,486/mo this rent would consume 45% of the median local household income ($39k/yr) (locally 3064% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y 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 $17k; list at $90k implies a 432% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.65% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.23%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (median comp): $66,714
• List price: $89,900
• Delta: 34.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16176 Tracey St	0.00mi	3/2.0 (-1)	1,270 (0%)	0mo	$70,000	$55	91
16180 Snowden St	0.16mi	3/1.0 (-1)	1,137 (-10%)	0mo	$61,000	$54	70
15824 Snowden St	0.25mi	3/1.0 (-1)	1,127 (-11%)	0mo	$61,000	$54	64
15824 Snowden St	0.25mi	3/1.0 (-1)	1,127 (-11%)	0mo	$61,000	$54	64
16863 Tracey St	0.34mi	3/2.0 (-1)	1,200 (-6%)	2mo	$165,000	$138	64
15770 Stansbury St	0.26mi	3/1.0 (-1)	1,100 (-13%)	1mo	$50,000	$45	60
16516 Appoline St	0.51mi	3/1.0 (-1)	1,350 (+6%)	1mo	$39,500	$29	60
17531 Ardmore St	0.75mi	4/2.0	1,304 (+3%)	2mo	$195,000	$150	55
15053 Littlefield St	0.71mi	3/2.0 (-1)	1,286 (+1%)	2mo	$75,000	$58	54
17161 Ward Ave	0.55mi	3/1.5 (-1)	1,377 (+8%)	2mo	$194,500	$141	52
15841 Steel St	0.45mi	3/1.0 (-1)	1,460 (+15%)	1mo	$50,000	$34	48
17147 Appoline St	0.65mi	3/2.0 (-1)	1,100 (-13%)	1mo	$170,000	$155	37

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: 20.3%
• Equity multiple: 1.83×
• Total profit: $20,878
• Equity at exit: $13,404

10-year hold

• IRR: 28.7%
• Equity multiple: 3.58×
• Total profit: $64,952
• Equity at exit: $7,773

Cash invested: $25,172 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,486 high
• Mortgage (P&I): −$471
• Tax from tax record: −$115 /mo · $1,376/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $550

Break-even live

Break-even rent $789

Max offer price $89,900

Occupancy floor 58%

Sensitivity live

Price	-10% $601	-5% $576	+0% $550	+5% $525	+10% $499
Rent	-10% $433	-5% $492	+0% $550	+5% $609	+10% $668
Rate	-1.0pp $596	-0.5pp $573	base $550	+0.5pp $527	+1.0pp $503

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.16mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	44d	1	0.16mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	44d	1	0.26mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.42mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	0.44mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	0.52mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.68mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	25d	1	0.69mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	0.78mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	0.84mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.85mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.86mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.89mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.91mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	13d	1	0.92mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	25d	1	0.92mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	25d	1	0.92mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	0.97mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	0.98mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.00mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	17d	1	1.01mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	3d	1	1.05mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	44d	1	1.10mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	20d	1	1.10mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	1.12mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	1.18mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.20mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	1.21mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	1.27mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	1.28mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	1.29mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	1.29mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	25d	1	1.31mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	17d	1	1.31mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.36mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	1.42mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.45mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	17d	1	1.47mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	25d	1	1.49mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	3d	1	1.50mi

Listing history 25 events

1. 2025-12-06
   listed $89,900 Active 555-char remark

   Show marketing remark (551 chars)

   Character-filled bungalow ideal for a savvy investor or hands-on homeowner ready to unlock its full potential. Features a massive unfinished attic with strong upside - easily convertible into two additional bedrooms plus a full bath. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 100,000.00 purchase price, 30,000.00 down payment, 8% interest, 120 Months Term. 849.00/month. Seller financing / Land contract terms are negotiable. Purchaser to pay 395 processing fee at closing. As-is sale. Can be sold separately or combined with 15864 Tracey.

2. 2025-12-06
   listed $89,900 Active 551-char remark

   Show marketing remark (551 chars)

   Character-filled bungalow ideal for a savvy investor or hands-on homeowner ready to unlock its full potential. Features a massive unfinished attic with strong upside - easily convertible into two additional bedrooms plus a full bath. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 100,000.00 purchase price, 30,000.00 down payment, 8% interest, 120 Months Term. 849.00/month. Seller financing / Land contract terms are negotiable. Purchaser to pay 395 processing fee at closing. As-is sale. Can be sold separately or combined with 15864 Tracey.

3. 2025-12-01
   historical
4. 2025-07-15
   price $89,900
5. 2025-07-14
   price $89,900
6. 2025-07-14
   status Active
7. 2025-07-14
   status Active
8. 2025-03-13
   historical
9. 2025-03-13
   status Pending
10. 2025-03-13
    status Pending
11. 2024-12-10
    price $89,800
12. 2024-12-09
    price $89,800
13. 2024-11-08
    listed $89,900 Active
14. 2024-11-08
    listed $89,900 Active
15. 2024-10-31
    historical
16. 2024-10-31
    historical
17. 2024-10-08
    price $89,500
18. 2024-10-07
    price $89,500
19. 2024-04-01
    listed $89,900 Active
20. 2024-04-01
    listed $89,900 Active
21. 2024-03-31
    historical
22. 2024-03-31
    historical
23. 2023-09-16
    listed $89,900 Active
24. 2023-09-16
    listed $89,900 Active
25. 1996-05-14
    soldstatus $16,900

ⓘ 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: $1,376 · $115/mo
• Projected year-2 tax: $1,380 · $115/mo
• Expected delta: +$4/yr ($0/mo · 0.3%)

ⓘ 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: $17,831
• − Mortgage interest: −$5,036
• − Property taxes: −$1,376
• − Insurance: −$450
• − Repairs & maintenance: −$1,426
• − Management: −$1,426
• − Depreciation: −$2,615
• Taxable income: $5,501
• Est. tax owed @ 24.0%: −$1,320
• After-tax cash flow: $5,283/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

+432.0% since first listed

25 events — show timeline

• 2025-12-06 Listed $89,900 REALCOMP
• 2025-12-06 Listed $89,900 MiRealSource-MiMLS
• 2025-12-01 Listing Removed — MiRealSource-MiMLS
• 2025-07-15 Price Changed $89,900 MiRealSource-MiMLS
• 2025-07-14 Price Changed $89,900 REALCOMP
• 2025-07-14 Relisted — MiRealSource-MiMLS
• 2025-07-14 Relisted — REALCOMP
• 2025-03-13 Listing Removed — REALCOMP
• 2025-03-13 Pending — MiRealSource-MiMLS
• 2025-03-13 Pending — REALCOMP
• 2024-12-10 Price Changed $89,800 MiRealSource-MiMLS
• 2024-12-09 Price Changed $89,800 REALCOMP
• 2024-11-08 Listed $89,900 REALCOMP
• 2024-11-08 Listed $89,900 MiRealSource-MiMLS
• 2024-10-31 Listing Removed — MiRealSource-MiMLS
• 2024-10-31 Listing Removed — REALCOMP
• 2024-10-08 Price Changed $89,500 MiRealSource-MiMLS
• 2024-10-07 Price Changed $89,500 REALCOMP
• 2024-04-01 Listed $89,900 MiRealSource-MiMLS
• 2024-04-01 Listed $89,900 REALCOMP
• 2024-03-31 Listing Removed — MiRealSource-MiMLS
• 2024-03-31 Listing Removed — REALCOMP
• 2023-09-16 Listed $89,900 MiRealSource-MiMLS
• 2023-09-16 Listed $89,900 REALCOMP
• 1996-05-14 Sold (Public Records) $16,900 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,376 · -9.2% YoY. Source: county tax records.