16591 Wormer St · Detroit, MI 48219

$46,800

3 bd · 1.0 ba · 968 sqft · SingleFamily public records · 34 Days on market

Built 1955 6,970 sqft lot $48/sqft · 49% below area Est $91k · 49% 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
• 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

Great Investment Opportunity in Detroit, West of Telegraph, just blocks away from Redford Twp. Full interior and exterior rehad is needed. Close to Freways and shopping. BUYER TO ASSUME IN AS-IS CONDITION. ALL INFORMATION IS ESTIMATED, INTERESTED PARTIES TO VERIFY ALL INFORMATION PRIOR TO CLOSING. NO ASIGNS.

Key facts

• 6,970 sq ft lot
• Built 1955
• Listed 34 days

Property features AI

Finance

• Other: No additional financial amenities provided
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA details provided

Exterior

• Parking: No garage
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Built with other construction materials; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 46 x 150 (0.16 acres)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $45k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.8% vs local median 10.1% 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); 308 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 35% 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 $324 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 + 8.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $32k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,396 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1955 — 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. 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: 2.68% ✓
• Cap rate: 20.85%
• Cash-on-cash: 51.98%
• DSCR: 3.31
• GRM: 3.1

CMA / ARV

• ARV (median comp): $91,301
• List price: $46,800
• Delta: -48.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16841 Winston St	0.24mi	3/1.0	954 (-1%)	4mo	$95,500	$100	83
16230 Winston St	0.21mi	3/1.0	917 (-5%)	1mo	$80,000	$87	81
16565 Woodbine St	0.07mi	3/1.0	1,105 (+14%)	2mo	$110,000	$100	72
17324 Salem St	0.51mi	2/1.0 (-1)	954 (-1%)	2mo	$74,900	$79	67
15512 Dixie	0.57mi	3/1.0	924 (-4%)	4mo	$130,000	$141	63
15490 Dixie	0.59mi	3/1.0	912 (-6%)	2mo	$135,000	$148	62
16618 Salem St	0.26mi	2/1.0 (-1)	833 (-14%)	4mo	$47,500	$57	56
16165 W Parkway St	0.65mi	3/1.0	1,022 (+6%)	5mo	$50,000	$49	56
17630 Brady	0.73mi	3/1.0	916 (-5%)	1mo	$164,000	$179	56
25012 Midland	0.54mi	2/1.0 (-1)	900 (-7%)	4mo	$85,000	$94	55
17727 Woodbine St	0.72mi	3/1.5	850 (-12%)	0mo	$58,000	$68	44
15478 Lola Dr	0.65mi	4/1.0 (+1)	1,100 (+14%)	2mo	$800,000	$727	40

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: 56.2%
• Equity multiple: 3.69×
• Total profit: $35,280
• Equity at exit: $6,978

10-year hold

• IRR: 63.2%
• Equity multiple: 9.23×
• Total profit: $107,788
• Equity at exit: $4,046

Cash invested: $13,104 (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: 308
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$245
• Tax from tax record: −$159 /mo · $1,909/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $568

Break-even live

Break-even rent $537

Max offer price $46,800

Occupancy floor 50%

Sensitivity live

Price	-10% $594	-5% $581	+0% $568	+5% $554	+10% $541
Rent	-10% $468	-5% $518	+0% $568	+5% $617	+10% $667
Rate	-1.0pp $591	-0.5pp $579	base $568	+0.5pp $555	+1.0pp $543

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: $11,700
• Closing costs: $1,404
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	45d	1	0.02mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	19d	1	0.09mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	6d	1	0.17mi
16800 Telegraph Rd Detroit, MI	2.0	1.0	775	$875	$1.13	45d	1	0.21mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	19d	1	0.30mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	25d	1	0.49mi
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	6d	1	0.60mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	45d	1	0.84mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	25d	1	0.90mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	6d	1	0.90mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	18d	1	1.02mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	14d	1	1.13mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	45d	1	1.18mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	45d	3	1.24mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	1.37mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	1.38mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	1.40mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	1.40mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	45d	1	1.46mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.46mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	45d	1	1.47mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	18d	1	1.47mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.48mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.48mi
14292 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.49mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	18d	1	1.49mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	45d	2	1.49mi
14286 Riverview St Unit HF Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.50mi
14298 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.50mi
14300 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.50mi
14302 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.50mi
14294 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.50mi
14296 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.50mi

Listing history 6 events

1. 2026-06-02
   status $46,800 Pending 34 DOM
2. 2026-06-01
   days on market $46,800 Active 34 DOM

   Show marketing remark (309 chars)

   Great Investment Opportunity in Detroit, West of Telegraph, just blocks away from Redford Twp. Full interior and exterior rehad is needed. Close to Freways and shopping. BUYER TO ASSUME IN AS-IS CONDITION. ALL INFORMATION IS ESTIMATED, INTERESTED PARTIES TO VERIFY ALL INFORMATION PRIOR TO CLOSING. NO ASIGNS.

3. 2026-05-31
   days on market $46,800 Active 33 DOM
4. 2026-04-28
   listed $46,800 Active 309-char remark

   Show marketing remark (309 chars)

   Great Investment Opportunity in Detroit, West of Telegraph, just blocks away from Redford Twp. Full interior and exterior rehad is needed. Close to Freways and shopping. BUYER TO ASSUME IN AS-IS CONDITION. ALL INFORMATION IS ESTIMATED, INTERESTED PARTIES TO VERIFY ALL INFORMATION PRIOR TO CLOSING. NO ASIGNS.

5. 2026-04-28
   listed $46,800 Active 309-char remark

   Show marketing remark (309 chars)

   Great Investment Opportunity in Detroit, West of Telegraph, just blocks away from Redford Twp. Full interior and exterior rehad is needed. Close to Freways and shopping. BUYER TO ASSUME IN AS-IS CONDITION. ALL INFORMATION IS ESTIMATED, INTERESTED PARTIES TO VERIFY ALL INFORMATION PRIOR TO CLOSING. NO ASIGNS.

6. 1996-11-14
   soldstatus $31,800

ⓘ 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: $1,909 · $159/mo
• Projected year-2 tax: $1,909 · $159/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 (shaded) · 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,062
• − Mortgage interest: −$2,622
• − Property taxes: −$1,909
• − Insurance: −$234
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$1,361
• Taxable income: $6,526
• Est. tax owed @ 24.0%: −$1,566
• After-tax cash flow: $5,245/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

+47.2% since first listed

5 events — show timeline

• 2026-06-01 Pending — MiRealSource-MiMLS
• 2026-06-01 Pending — REALCOMP
• 2026-04-28 Listed $46,800 REALCOMP
• 2026-04-28 Listed $46,800 MiRealSource-MiMLS
• 1996-11-14 Sold (Public Records) $31,800 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,909 · -0.3% YoY. Source: county tax records.