18090 Washburn St · Detroit, MI 48221

$79,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 377 Days on market

Built 1949 4,792 sqft lot $100/sqft · 15% below area Est $93k · 15% under

---

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 +29.3/30.0
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is a tenant occupied bungalow on Detroit's west side. Current rent is $925 / month. Lease and rent roll available upon request. No showings prior to accepted offer. Very nice location near Wyoming and 7 Mile.

Key facts

• Bungalow
• 4,792 sq ft lot
• Built 1949

Tags

• BUNGALOW
• NEAR WYOMING AND 7 MILE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

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 (+3.4%/yr); 349 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $546 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 + 3.4% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 377 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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: property tax is 3.1% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 377 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.03%
• DSCR: 1.67
• GRM: 5.6

CMA / ARV

• ARV (median comp): $92,956
• List price: $79,000
• Delta: -15.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18681 Ilene St	0.37mi	3/1.0 (+1)	801 (+1%)	18mo	$120,000	$150	61
10710 Curtis St	0.36mi	2/1.0	865 (+9%)	11mo	$37,500	$43	58
18300 Birwood St	0.22mi	3/1.0 (+1)	856 (+8%)	22mo	$92,000	$107	53
18046 Steel St	0.56mi	3/1.0 (+1)	909 (+15%)	19mo	$86,500	$95	28

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $5,446
• Equity at exit: $11,779

10-year hold

• IRR: 16.2%
• Equity multiple: 2.35×
• Total profit: $29,955
• Equity at exit: $6,830

Cash invested: $22,120 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,174 high
• Mortgage (P&I): −$414
• Tax from tax record: −$203 /mo · $2,437/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $277

Break-even live

Break-even rent $823

Max offer price $79,000

Occupancy floor 71%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18461 Washburn St Detroit, MI	1.0	1.0	690	$775	$1.12	43d	1	0.20mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	43d	2	0.53mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	43d	1	0.56mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.59mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	17d	1	0.88mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	0.94mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	0.95mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	43d	1	0.96mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	0.99mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	43d	1	1.02mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.04mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.04mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	17d	1	1.04mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	43d	1	1.05mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	17d	1	1.07mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	1.08mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	17d	1	1.09mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	17d	1	1.13mi
19031 Livernois Unit F Detroit, MI	2.0	2.0	1100	$2,135	$1.94	43d	1	1.15mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	43d	1	1.16mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	1d	1	1.16mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	1.17mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	43d	1	1.17mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	1.17mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	1.18mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	43d	1	1.21mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	43d	1	1.25mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	5d	1	1.25mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	17d	1	1.26mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	43d	1	1.26mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	1.26mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	1.26mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	43d	1	1.27mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	43d	1	1.32mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	1.34mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	10d	1	1.36mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	2d	1	1.37mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	24d	1	1.38mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	17d	1	1.39mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	17d	1	1.40mi

Listing history 26 events

1. 2026-06-18
   days on market $79,000 Active 377 DOM
2. 2026-06-17
   days on market $79,000 Active 376 DOM
3. 2026-06-15
   days on market $79,000 Active 374 DOM
4. 2026-06-13
   days on market $79,000 Active 372 DOM
5. 2026-06-13
   days on market $79,000 Active 371 DOM
6. 2026-06-09
   days on market $79,000 Active 368 DOM
7. 2026-06-08
   days on market $79,000 Active 367 DOM
8. 2026-06-07
   days on market $79,000 Active 366 DOM
9. 2026-06-04
   days on market $79,000 Active 363 DOM
10. 2026-06-03
    days on market $79,000 Active 362 DOM
11. 2026-06-01
    days on market $79,000 Active 360 DOM
12. 2026-05-31
    days on market $79,000 Active 359 DOM
13. 2025-08-26
    price $79,000 213-char remark

    Show marketing remark (213 chars)

    Here is a tenant occupied bungalow on Detroit's west side. Current rent is $925 / month. Lease and rent roll available upon request. No showings prior to accepted offer. Very nice location near Wyoming and 7 Mile.

14. 2025-08-26
    price $79,000 213-char remark

    Show marketing remark (213 chars)

    Here is a tenant occupied bungalow on Detroit's west side. Current rent is $925 / month. Lease and rent roll available upon request. No showings prior to accepted offer. Very nice location near Wyoming and 7 Mile.

15. 2025-06-06
    listed $81,000 Active 213-char remark

    Show marketing remark (213 chars)

    Here is a tenant occupied bungalow on Detroit's west side. Current rent is $925 / month. Lease and rent roll available upon request. No showings prior to accepted offer. Very nice location near Wyoming and 7 Mile.

16. 2025-06-06
    listed $81,000 Active 213-char remark

    Show marketing remark (213 chars)

    Here is a tenant occupied bungalow on Detroit's west side. Current rent is $925 / month. Lease and rent roll available upon request. No showings prior to accepted offer. Very nice location near Wyoming and 7 Mile.

17. 2022-01-05
    soldstatus $73,000
18. 2021-12-20
    soldstatus $55,000
19. 2021-11-02
    soldstatus $55,000 Sold
20. 2021-11-02
    soldstatus $55,000 Closed
21. 2021-10-21
    status Pending
22. 2021-10-21
    status Pending
23. 2021-09-18
    price $59,000
24. 2021-09-18
    price $59,000
25. 2021-09-02
    listed $67,000 Active
26. 2021-09-02
    listed $67,000 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: $2,437 · $203/mo
• Projected year-2 tax: $2,437 · $203/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 ≥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: $14,086
• − Mortgage interest: −$4,425
• − Property taxes: −$2,437
• − Insurance: −$395
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,298
• Taxable income: $2,277
• Est. tax owed @ 24.0%: −$546
• After-tax cash flow: $2,778/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+17.9% since first listed

14 events — show timeline

• 2025-08-26 Price Changed $79,000 MiRealSource-MiMLS
• 2025-08-26 Price Changed $79,000 REALCOMP
• 2025-06-06 Listed $81,000 REALCOMP
• 2025-06-06 Listed $81,000 MiRealSource-MiMLS
• 2022-01-05 Sold (Public Records) $73,000 Public Records
• 2021-12-20 Sold (Public Records) $55,000 Public Records
• 2021-11-02 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2021-11-02 Sold (MLS) $55,000 REALCOMP
• 2021-10-21 Pending — MiRealSource-MiMLS
• 2021-10-21 Pending — REALCOMP
• 2021-09-18 Price Changed $59,000 MiRealSource-MiMLS
• 2021-09-18 Price Changed $59,000 REALCOMP
• 2021-09-02 Listed $67,000 MiRealSource-MiMLS
• 2021-09-02 Listed $67,000 REALCOMP

Property tax history

+5.0%/yr

Latest (2025): $2,437 · -37.9% YoY. Source: county tax records.