18402 Revere St St · Detroit, MI 48234

$69,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 40 Days on market

Built 1925 4,792 sqft lot $60/sqft · 67% above area Est $74k · 6% 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 +10.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Detroit investment opportunity packed with potential and positioned for value-add growth. This spacious colonial-style home features 3 bedrooms, 1 full bathroom, offering the perfect canvas for investors, flippers, landlords, or savvy buyers looking to build equity. Situated on an extra large corner lot, this property provides ample outdoor space for future enhancements, expansion possibilities, parking accommodations, or outdoor entertaining concepts. The property does need some TLC, but with the right vision and updates, this home has the potential to become a standout income producing property or a beautifully restored primary residence. The seller is highly motivated and willing to cons

Key facts

• 4,792 sq ft lot
• Built 1925
• Listed 40 days

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Corner lot; Lot is paved
• Construction: Aluminum siding, vinyl siding, and block construction; Block foundation; Asphalt roof; Built above grade with finished living area and additional finished space below grade
• Exterior features: Awning(s); Covered porch

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Partially finished basement; 3 total rooms
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 44% of the median local income ($35k/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 $477 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 + 6.7% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y 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 $50k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.89% ✓
• Cap rate: 16.36%
• Cash-on-cash: 35.97%
• DSCR: 2.60
• GRM: 4.4

CMA / ARV

• ARV (median comp): $73,602
• List price: $69,000
• Delta: -6.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3952 Stockton St	0.17mi	3/1.0	1,149 (-0%)	1mo	$55,000	$48	91
19155 Gallagher St	0.46mi	3/1.5	1,208 (+5%)	0mo	$129,900	$108	68
19155 Ryan Rd	0.50mi	3/1.0	1,068 (-7%)	2mo	$45,000	$42	63
17833 Binder St	0.27mi	3/1.0	1,000 (-13%)	4mo	$46,000	$46	62
18547 Anglin St	0.40mi	3/1.0	1,000 (-13%)	6mo	$93,000	$93	54
19360 Revere St	0.64mi	3/1.0	1,050 (-9%)	2mo	$78,000	$74	54
18905 Dean St	0.45mi	3/1.0	990 (-14%)	6mo	$88,900	$90	51
17144 Justine St	0.73mi	3/1.0	1,252 (+9%)	2mo	$81,999	$65	50
19322 Shields St	0.72mi	3/1.0	1,050 (-9%)	6mo	$43,000	$41	46
18844 Healy St	0.71mi	4/2.0 (+1)	1,252 (+9%)	2mo	$45,000	$36	42
19364 Norwood St	0.64mi	2/1.0 (-1)	1,296 (+12%)	4mo	$20,000	$15	41
17520 Goddard Street St	0.63mi	4/2.0 (+1)	1,302 (+13%)	3mo	$54,900	$42	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 2.59×
• Total profit: $30,770
• Equity at exit: $10,288

10-year hold

• IRR: 44.3%
• Equity multiple: 6.01×
• Total profit: $96,736
• Equity at exit: $5,966

Cash invested: $19,320 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$362
• Tax from tax record: −$60 /mo · $726/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $579

Break-even live

Break-even rent $571

Max offer price $69,000

Occupancy floor 51%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	24d	1	0.18mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.37mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	17d	1	0.41mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	0.55mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.67mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.67mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	0.75mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	0.77mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	14d	1	0.86mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	43d	1	0.89mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.90mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	43d	1	0.90mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.92mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	0.94mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	1d	1	0.94mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.98mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	1.01mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	1.01mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	4d	1	1.01mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	4d	1	1.02mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	1.03mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	23d	1	1.08mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.10mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	21d	1	1.16mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.29mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	1.43mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	16d	1	1.45mi

Listing history 44 events

1. 2026-06-18
   days on market $69,000 Active 40 DOM
2. 2026-06-17
   days on market $69,000 Active 39 DOM
3. 2026-06-15
   days on market $69,000 Active 37 DOM
4. 2026-06-13
   days on market $69,000 Active 35 DOM
5. 2026-06-13
   days on market $69,000 Active 34 DOM
6. 2026-06-09
   days on market $69,000 Active 31 DOM
7. 2026-06-08
   days on market $69,000 Active 30 DOM
8. 2026-06-07
   days on market $69,000 Active 29 DOM
9. 2026-06-04
   days on market $69,000 Active 26 DOM
10. 2026-06-03
    days on market $69,000 Active 25 DOM
11. 2026-06-02
    days on market $69,000 Active 24 DOM
12. 2026-06-01
    days on market $69,000 Active 23 DOM
13. 2026-05-31
    days on market $69,000 Active 22 DOM
14. 2026-05-11
    historical
15. 2026-05-11
    historical
16. 2026-05-10
    listed $69,000 Active
17. 2026-05-10
    listed $69,000 Active
18. 2026-05-10
    historical $69,000
19. 2026-04-28
    price $69,000
20. 2026-04-28
    status Active
21. 2026-04-28
    status Active
22. 2026-04-28
    price $69,000
23. 2026-04-17
    historical Accepting Backup Offers
24. 2026-04-17
    historical Active Under Contract
25. 2026-04-16
    price $69,900
26. 2026-04-16
    price $69,900
27. 2026-04-11
    price $69,999
28. 2026-04-10
    price $69,999
29. 2026-03-27
    listed $70,000 Active
30. 2026-03-27
    listed $70,000 Active
31. 2026-03-26
    historical
32. 2023-05-11
    soldstatus $50,000
33. 2023-02-24
    soldstatus $43,000 Sold
34. 2023-02-24
    soldstatus $43,000 Closed
35. 2023-02-01
    status Pending
36. 2023-02-01
    status Pending
37. 2023-01-11
    price $45,000
38. 2023-01-10
    price $45,000
39. 2022-12-22
    listed $49,000 Active
40. 2022-12-22
    listed $49,000 Active
41. 2022-08-10
    historical
42. 2022-08-10
    historical
43. 2022-06-13
    listed $52,000 Active
44. 2022-06-13
    listed $52,000 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: $726 · $60/mo
• Projected year-2 tax: $894 · $75/mo
• Expected delta: +$168/yr (+$14/mo · 23.2%)

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,648
• − Mortgage interest: −$3,865
• − Property taxes: −$726
• − Insurance: −$345
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$2,007
• Taxable income: $6,202
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $5,461/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+32.7% since first listed

31 events — show timeline

• 2026-05-11 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Listing Removed — REALCOMP
• 2026-05-10 Listed $69,000 MiRealSource-MiMLS
• 2026-05-10 Listed $69,000 REALCOMP
• 2026-05-10 Coming Soon $69,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $69,000 MiRealSource-MiMLS
• 2026-04-28 Relisted — MiRealSource-MiMLS
• 2026-04-28 Relisted — REALCOMP
• 2026-04-28 Price Changed $69,000 REALCOMP
• 2026-04-17 Contingent — MiRealSource-MiMLS
• 2026-04-17 Contingent — REALCOMP
• 2026-04-16 Price Changed $69,900 MiRealSource-MiMLS
• 2026-04-16 Price Changed $69,900 REALCOMP
• 2026-04-11 Price Changed $69,999 MiRealSource-MiMLS
• 2026-04-10 Price Changed $69,999 REALCOMP
• 2026-03-27 Listed $70,000 MiRealSource-MiMLS
• 2026-03-27 Listed $70,000 REALCOMP
• 2026-03-26 Coming Soon — MiRealSource-MiMLS
• 2023-05-11 Sold (Public Records) $50,000 Public Records
• 2023-02-24 Sold (MLS) $43,000 MiRealSource-MiMLS
• 2023-02-24 Sold (MLS) $43,000 REALCOMP
• 2023-02-01 Pending — MiRealSource-MiMLS
• 2023-02-01 Pending — REALCOMP
• 2023-01-11 Price Changed $45,000 MiRealSource-MiMLS
• 2023-01-10 Price Changed $45,000 REALCOMP
• 2022-12-22 Listed $49,000 MiRealSource-MiMLS
• 2022-12-22 Listed $49,000 REALCOMP
• 2022-08-10 Listing Removed — REALCOMP
• 2022-08-10 Listing Removed — MiRealSource-MiMLS
• 2022-06-13 Listed $52,000 MiRealSource-MiMLS
• 2022-06-13 Listed $52,000 REALCOMP

Property tax history

-2.6%/yr

Latest (2019): $726 · +2.5% YoY. Source: county tax records.