17172 Waltham St · Detroit, MI 48205

$104,900

3 bd · 1.0 ba · 785 sqft · SingleFamily public records · 15 Days on market

Built 1924 3,485 sqft lot

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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 +29.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and move-in-ready bungalow offering 2–3 bedrooms, 1 full bath, and a functional layout perfect for first-time homebuyers or investors! The main floor features a spacious living room, formal dining room, updated kitchen, 2 bedrooms, and a full bath. The upper level provides a versatile bonus space that can be used as a third bedroom, home office, playroom, or additional storage. Recent improvements include a newer furnace and newer hot water tank for added peace of mind. The property also features a 2-car garage with convenient alley access. Ideally located near schools, shopping, restaurants, parks, and major freeways, providing easy access to Downtown Detroit and surrounding communities. Whether you're looking for a great starter home or an excellent investment property with strong rental potential, this home is a fantastic opportunity!

Key facts

• Newer furnace
• Newer hot water tank
• Functional layout

Tags

• MOVE IN READY BUNGALOW
• FUNCTIONAL LAYOUT
• VERSATILE BONUS SPACE
• NEWER FURNACE
• NEWER HOT WATER TANK
• 2 CAR GARAGE

Property features AI

Exterior

• Parking: Detached garage with alley access (2 car spaces)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot approximately 30 x 120 (0.08 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% 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 (+1.3%/yr); 373 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 40% of the median local income ($39k/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 $725 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 + 1.3% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y 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 $1k; list at $105k implies a 7393% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,326 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.43%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $45,530
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11839 Greiner St	0.46mi	2/1.0 (-1)	743 (-5%)	12mo	$22,000	$30	55
18488 Waltham St	0.41mi	3/1.0	902 (+15%)	4mo	$56,000	$62	53
17877 Rowe St	0.49mi	3/1.0	868 (+11%)	11mo	$88,500	$102	50
12001 Greiner St	0.38mi	2/1.0 (-1)	734 (-6%)	20mo	$65,000	$89	50
17401 Albion St	0.59mi	2/1.0 (-1)	865 (+10%)	1mo	$50,000	$58	50
11544 Kennebec St	0.61mi	2/1.0 (-1)	795 (+1%)	18mo	$35,000	$44	50
12834 August Ave	0.62mi	3/1.0	897 (+14%)	15mo	$22,000	$25	35
17311 Teppert St	0.73mi	2/1.0 (-1)	875 (+12%)	14mo	$35,000	$40	30

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $4,875
• Equity at exit: $15,641

10-year hold

• IRR: 12.3%
• Equity multiple: 1.90×
• Total profit: $26,566
• Equity at exit: $9,070

Cash invested: $29,372 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$550
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $378

Break-even live

Break-even rent $826

Max offer price $104,900

Occupancy floor 66%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.25mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.36mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.48mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.48mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.51mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.52mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	0.59mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.59mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.60mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.60mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	0.62mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.73mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	0.78mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.84mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.99mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.99mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	1.03mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.04mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.32mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.36mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	1.36mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.39mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	1.43mi

Listing history 11 events

1. 2026-06-18
   days on market $104,900 Active 15 DOM
2. 2026-06-17
   days on market $104,900 Active 14 DOM
3. 2026-06-16
   days on market $104,900 Active 13 DOM
4. 2026-06-15
   days on market $104,900 Active 12 DOM
5. 2026-06-13
   days on market $104,900 Active 10 DOM
6. 2026-06-13
   days on market $104,900 Active 9 DOM
7. 2026-06-09
   days on market $104,900 Active 6 DOM
8. 2026-06-08
   days on market $104,900 Active 5 DOM
9. 2026-06-07
   days on market $104,900 Active 4 DOM
10. 2026-06-04
    remarks 693-char remark
11. 2026-06-04
    listed $104,900 Active 1 DOM

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $1,158 · $96/mo
• Expected delta: +$458/yr (+$38/mo · 65.4%)

ⓘ 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 ≥96°F today · 14 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: $15,643
• − Mortgage interest: −$5,876
• − Property taxes: −$700
• − Insurance: −$524
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$3,052
• Taxable income: $2,988
• Est. tax owed @ 24.0%: −$717
• After-tax cash flow: $3,815/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+482.8% since first listed

14 events — show timeline

• 2026-06-01 Listed $104,900 REALCOMP
• 2026-06-01 Listed $104,900 MiRealSource-MiMLS
• 2010-02-02 Sold (MLS) $1,400 MiRealSource-MiMLS
• 2010-02-02 Sold (MLS) $1,400 REALCOMP
• 2009-12-08 Listing Removed — MiRealSource-MiMLS
• 2009-09-18 Listed $1,600 MiRealSource-MiMLS
• 2009-09-18 Listed $1,600 REALCOMP
• 2003-06-19 Sold (Public Records) $50,000 Public Records
• 2003-02-13 Sold (MLS) $50,000 REALCOMP
• 2003-02-13 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2002-12-23 Listing Removed — MiRealSource-MiMLS
• 2002-12-22 Listed $50,000 REALCOMP
• 2002-12-22 Listed $50,000 MiRealSource-MiMLS
• 2002-05-28 Sold (Public Records) $18,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $700 · -50.4% YoY. Source: county tax records.