18096 Hamburg St · Detroit, MI 48205

$79,900

3 bd · 1.0 ba · 893 sqft · SingleFamily public records · 92 Days on market

Built 1943 4,792 sqft lot $89/sqft · 30% above area Est $61k · 30% over

---

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

Listing remarks MLS

Excellent Investment Opportunity! 3-bedroom bungalow located on the east side. Currently rented at $1,000/month with a rental increase scheduled soon, offering strong and growing cash flow. Well-maintained home featuring spacious rooms and solid mechanicals. Convenient location near schools, parks, and major commuter routes. Immediate income with upside potential—perfect for any investor’s portfolio! Seller will require an accepted offer with proof of funds before access can be permitted. Let's make a deal.

Key facts

• Strong cash flow
• Near schools
• Near parks

Tags

• INVESTMENT OPPORTUNITY
• STRONG CASH FLOW
• WELL MAINTAINED
• CONVENIENT LOCATION
• NEAR SCHOOLS
• NEAR PARKS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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 (+1.3%/yr); 373 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 41% 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 $552 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 + 1.3% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $49k; list at $80k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.65% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.80%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (median comp): $61,385
• List price: $79,900
• Delta: 30.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18488 Waltham St	0.17mi	3/1.0	902 (+1%)	4mo	$56,000	$62	88
18982 Hamburg St	0.35mi	3/1.0	952 (+7%)	3mo	$45,000	$47	70
19161 Hamburg St	0.47mi	3/1.0	960 (+8%)	2mo	$116,000	$121	64
19145 Strasburg St	0.47mi	3/1.5	931 (+4%)	7mo	$90,000	$97	64
17401 Albion St	0.58mi	2/1.0 (-1)	865 (-3%)	1mo	$50,000	$58	62
17892 Runyon St	0.52mi	3/1.5	995 (+11%)	2mo	$56,000	$56	53
17330 Waltham St	0.25mi	4/1.0 (+1)	1,020 (+14%)	8mo	$51,400	$50	53
19161 Joann St	0.58mi	2/1.0 (-1)	816 (-9%)	6mo	$70,000	$86	48
19544 Hamburg St	0.69mi	3/1.0	962 (+8%)	8mo	$50,000	$52	48
18709 Runyon St	0.59mi	3/1.0	1,000 (+12%)	7mo	$62,000	$62	47
17694 Teppert St	0.62mi	3/1.0	1,013 (+13%)	6mo	$120,000	$118	44
19193 Alcoy St	0.63mi	3/1.0	1,024 (+15%)	8mo	$21,000	$21	39

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: 17.6%
• Equity multiple: 1.69×
• Total profit: $15,536
• Equity at exit: $11,913

10-year hold

• IRR: 24.8%
• Equity multiple: 2.99×
• Total profit: $44,441
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$419
• Tax from tax record: −$106 /mo · $1,273/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $481

Break-even live

Break-even rent $707

Max offer price $79,900

Occupancy floor 58%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 27 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	0.20mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.23mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.26mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.36mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.37mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.37mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.43mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.53mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.60mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.68mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.68mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.68mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.81mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.88mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.89mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.91mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.92mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.11mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.13mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.24mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.29mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	1.30mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.30mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	1.31mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.31mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	1.32mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $79,900 Active 92 DOM
2. 2026-06-17
   days on market $79,900 Active 91 DOM
3. 2026-06-15
   days on market $79,900 Active 89 DOM
4. 2026-06-13
   days on market $79,900 Active 87 DOM
5. 2026-06-13
   days on market $79,900 Active 86 DOM
6. 2026-06-09
   days on market $79,900 Active 83 DOM
7. 2026-06-08
   days on market $79,900 Active 82 DOM
8. 2026-06-07
   days on market $79,900 Active 81 DOM
9. 2026-06-04
   days on market $79,900 Active 78 DOM
10. 2026-06-03
    days on market $79,900 Active 77 DOM
11. 2026-06-01
    days on market $79,900 Active 75 DOM
12. 2026-05-31
    days on market $79,900 Active 74 DOM
13. 2026-03-18
    listed $79,900 Active 524-char remark

    Show marketing remark (514 chars)

    Excellent Investment Opportunity! 3-bedroom bungalow located on the east side. Currently rented at $1,000/month with a rental increase scheduled soon, offering strong and growing cash flow. Well-maintained home featuring spacious rooms and solid mechanicals. Convenient location near schools, parks, and major commuter routes. Immediate income with upside potential - perfect for any investor's portfolio! Seller will require an accepted offer with proof of funds before access can be permitted. Let's make a deal.

14. 2026-03-18
    listed $79,900 Active 514-char remark

    Show marketing remark (514 chars)

    Excellent Investment Opportunity! 3-bedroom bungalow located on the east side. Currently rented at $1,000/month with a rental increase scheduled soon, offering strong and growing cash flow. Well-maintained home featuring spacious rooms and solid mechanicals. Convenient location near schools, parks, and major commuter routes. Immediate income with upside potential - perfect for any investor's portfolio! Seller will require an accepted offer with proof of funds before access can be permitted. Let's make a deal.

15. 2026-01-29
    historical
16. 2026-01-29
    historical
17. 2025-10-28
    listed $80,000 Active
18. 2025-10-28
    listed $80,000 Active
19. 2021-03-12
    historical
20. 2020-08-10
    status Pending
21. 2020-08-10
    status Pending
22. 2020-08-06
    historical
23. 2018-12-13
    listed $19,500 Active
24. 2018-12-13
    listed $19,500 Active
25. 2009-01-20
    historical
26. 2008-08-01
    listed $9,900
27. 1999-06-15
    soldstatus $49,000

ⓘ 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: $1,273 · $106/mo
• Projected year-2 tax: $1,273 · $106/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 ≥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: $15,788
• − Mortgage interest: −$4,476
• − Property taxes: −$1,273
• − Insurance: −$400
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$2,324
• Taxable income: $4,789
• Est. tax owed @ 24.0%: −$1,149
• After-tax cash flow: $4,622/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

+63.1% since first listed

15 events — show timeline

• 2026-03-18 Listed $79,900 REALCOMP
• 2026-03-18 Listed $79,900 MiRealSource-MiMLS
• 2026-01-29 Listing Removed — REALCOMP
• 2026-01-29 Listing Removed — MiRealSource-MiMLS
• 2025-10-28 Listed $80,000 REALCOMP
• 2025-10-28 Listed $80,000 MiRealSource-MiMLS
• 2021-03-12 Listing Removed — REALCOMP
• 2020-08-10 Pending — MiRealSource-MiMLS
• 2020-08-10 Pending — REALCOMP
• 2020-08-06 Listing Removed — MiRealSource-MiMLS
• 2018-12-13 Listed $19,500 MiRealSource-MiMLS
• 2018-12-13 Listed $19,500 REALCOMP
• 2009-01-20 Listing Removed — REALCOMP
• 2008-08-01 Listed $9,900 REALCOMP
• 1999-06-15 Sold (Public Records) $49,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,273 · -9.0% YoY. Source: county tax records.