19432 Warwick St · Detroit, MI 48219

$26,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 2 Days on market

Built 1950 4,792 sqft lot ↓ 20% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HARD WOOD FLOOR IN THE LIVING ROM, DINNING ROOM, NEW FLOOR IN TE KITCHEN, BATH IN THE BASEMENT IS PLUM FOR A FULL BATH

Key facts

• 4,792 sq ft lot
• Built 1950
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $26k.

Deal economics

• At list price, monthly cash flow is $912 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• Cap rate 48.4% 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 (+8.0%/yr); 305 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 38% of the median local income ($44k/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 $180 of loan paydown is wiped out by about $780 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 + 8.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,000

Questions for the listing agent

1. Built in 1950 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.26% ✓
• Cap rate: 48.37%
• Cash-on-cash: 150.26%
• DSCR: 7.69
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $110,292
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19749 Huntington Rd	0.24mi	3/1.5	1,093 (+0%)	0mo	$169,999	$156	86
19455 Avon Ave	0.16mi	3/1.0	1,023 (-6%)	2mo	$72,000	$70	80
19352 Margareta St	0.49mi	3/1.0	1,060 (-3%)	3mo	$105,000	$99	70
18926 Ashton Ave	0.65mi	3/1.0	1,095 (+0%)	3mo	$125,000	$114	67
19338 Fenmore St	0.61mi	3/1.0	1,120 (+3%)	1mo	$116,000	$104	66
20534 Grandville Ave	0.64mi	3/1.5	1,155 (+6%)	3mo	$213,500	$185	56
18631 Margareta St	0.56mi	3/1.0	950 (-13%)	0mo	$62,000	$65	52
18555 Edinborough Rd	0.55mi	3/1.0	950 (-13%)	2mo	$70,000	$74	51
18505 Ashton Ave	0.71mi	4/1.5 (+1)	1,200 (+10%)	0mo	$75,000	$63	43
19009 Ashton Ave	0.58mi	3/3.0	1,225 (+12%)	2mo	$170,000	$139	43
18494 Ashton Ave	0.74mi	3/1.0	943 (-14%)	2mo	$95,000	$101	41
20004 Southfield Fwy	0.66mi	2/1.0 (-1)	929 (-15%)	1mo	$20,000	$22	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.39×
• Total profit: $61,088
• Equity at exit: $3,877

10-year hold

• IRR: —
• Equity multiple: 23.10×
• Total profit: $160,908
• Equity at exit: $2,248

Cash invested: $7,280 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 305
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,368 high
• Mortgage (P&I): −$136
• Tax from tax record: −$22 /mo · $260/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $912

Break-even live

Break-even rent $214

Max offer price $26,000

Occupancy floor 28%

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: $6,500
• Closing costs: $780
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	14d	1	0.12mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	0.15mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	43d	1	0.15mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	4d	1	0.23mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	0.37mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	43d	1	0.41mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	12d	1	0.45mi
19457 Evergreen Rd Detroit, MI	2.0	1.0	1100	$1,200	$1.09	43d	1	0.48mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	24d	1	0.50mi
20271 Grandville Ave Detroit, MI	3.0	1.0	1010	$1,550	$1.53	23d	1	0.55mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	43d	1	0.57mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	16d	1	0.59mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	14d	1	0.61mi
18450 Edinborough Rd Detroit, MI	3.0	1.0	1000	$1,500	$1.50	43d	1	0.63mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	0.64mi
20200 Ashton Ave Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.67mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	43d	1	0.70mi
19400 Harlow St Detroit, MI	4.0	1.0	1298	$1,275	$0.98	16d	1	0.72mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	43d	1	0.72mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	0.74mi
19781 Fielding St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	4d	1	0.77mi
18556 Kentfield St Detroit, MI	3.0	1.0	952	$1,250	$1.31	2d	1	0.78mi
18461 Heyden St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	4d	1	0.82mi
20510 Fenmore St Detroit, MI	3.0	1.0	1194	$1,300	$1.09	1d	1	0.86mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	0.88mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	16d	1	0.88mi
20079 Patton St Detroit, MI	3.0	1.0	1150	$1,550	$1.35	4d	1	0.88mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	16d	1	0.91mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	24d	1	0.94mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	16d	1	0.94mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	4d	1	0.96mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	16d	1	0.99mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	24d	1	1.01mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	4d	1	1.04mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	24d	1	1.04mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	1.05mi
19810 Blackstone St Detroit, MI	3.0	1.0	1216	$1,395	$1.15	43d	1	1.09mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	43d	1	1.15mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	43d	1	1.18mi
18437 Trinity St Detroit, MI	3.0	1.0	875	$1,364	$1.56	14d	1	1.19mi

Listing history 15 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-09-23
   status Pending
5. 2018-04-11
   historical
6. 2017-12-04
   status Pending 118-char remark

   Show marketing remark (118 chars)

   HARD WOOD FLOOR IN THE LIVING ROM, DINNING ROOM, NEW FLOOR IN TE KITCHEN, BATH IN THE BASEMENT IS PLUM FOR A FULL BATH

7. 2017-12-03
   status Pending
8. 2017-12-01
   listed $26,000 Active

   Show marketing remark (118 chars)

   HARD WOOD FLOOR IN THE LIVING ROM, DINNING ROOM, NEW FLOOR IN TE KITCHEN, BATH IN THE BASEMENT IS PLUM FOR A FULL BATH

9. 2017-12-01
   listed $26,000 Active 118-char remark

   Show marketing remark (118 chars)

   HARD WOOD FLOOR IN THE LIVING ROM, DINNING ROOM, NEW FLOOR IN TE KITCHEN, BATH IN THE BASEMENT IS PLUM FOR A FULL BATH

10. 2017-01-18
    historical
11. 2017-01-12
    historical
12. 2016-08-16
    price $25,000
13. 2016-08-15
    price $25,000
14. 2016-08-05
    listed $32,500 Active
15. 2016-08-05
    listed $32,500 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: $260 · $22/mo
• Projected year-2 tax: $330 · $28/mo
• Expected delta: +$70/yr (+$6/mo · 27.0%)

ⓘ 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 ≥98°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: $16,412
• − Mortgage interest: −$1,456
• − Property taxes: −$260
• − Insurance: −$130
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$756
• Taxable income: $11,183
• Est. tax owed @ 24.0%: −$2,684
• After-tax cash flow: $8,255/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

-20.0% since first listed

15 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-09-23 Pending — REALCOMP
• 2018-04-11 Listing Removed — REALCOMP
• 2017-12-04 Pending — MiRealSource-MiMLS
• 2017-12-03 Pending — REALCOMP
• 2017-12-01 Listed $26,000 MiRealSource-MiMLS
• 2017-12-01 Listed $26,000 REALCOMP
• 2017-01-18 Listing Removed — MiRealSource-MiMLS
• 2017-01-12 Listing Removed — REALCOMP
• 2016-08-16 Price Changed $25,000 MiRealSource-MiMLS
• 2016-08-15 Price Changed $25,000 REALCOMP
• 2016-08-05 Listed $32,500 MiRealSource-MiMLS
• 2016-08-05 Listed $32,500 REALCOMP

Property tax history

-14.6%/yr

Latest (2025): $260 · +0.9% YoY. Source: county tax records.