17560 Greenlawn St · Detroit, MI 48221

$124,900

5 bd · 2.0 ba · 2,011 sqft · SingleFamily public records · 5 Days on market

Built 1929 5,227 sqft lot Est $227k · 45% under ↓ 23% since listing

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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 +29.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investment Opportunity! Brick colonial in the Bagley District. Property is in need of complete rehab. Warranty deed at closing with one exception for a quiet title currently in process. Member of the selling entity is a licensed real estate broker.

Key facts

• Complete rehab
• Bagley district
• Brick colonial

Tags

• BRICK COLONIAL
• BAGLEY DISTRICT
• COMPLETE REHAB

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ground-level entry with steps; Above-grade finished area about 2,200; Below-grade finished area about 650
• Construction: Brick construction; Block and brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 37 x 143 (0.12 acres)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Steam heating; No central cooling
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).

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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% of the median local income ($58k/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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 3.7% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.56% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.29%
• DSCR: 1.68
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $227,243
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17524 Woodingham Dr	0.07mi	4/1.5 (-1)	2,120 (+5%)	5mo	$255,000	$120	76
17540 Indiana St	0.36mi	4/2.0 (-1)	2,020 (+0%)	2mo	$155,000	$77	76
17585 Wisconsin St	0.33mi	4/2.0 (-1)	1,944 (-3%)	3mo	$290,000	$149	71
17214 Pennington Dr	0.28mi	4/2.5 (-1)	2,100 (+4%)	7mo	$275,000	$131	67
16801 Washburn St	0.72mi	4/2.0 (-1)	2,031 (+1%)	2mo	$230,000	$113	58
17592 Wisconsin St	0.30mi	4/2.0 (-1)	1,791 (-11%)	6mo	$249,000	$139	58
18661 San Juan Dr	0.54mi	4/2.5 (-1)	1,882 (-6%)	4mo	$236,000	$125	54
16796 Turner St	0.37mi	4/2.0 (-1)	1,710 (-15%)	3mo	$159,000	$93	50
18468 Santa Barbara Dr	0.39mi	4/1.5 (-1)	1,738 (-14%)	5mo	$150,000	$86	48
16503 Ohio St	0.69mi	4/1.5 (-1)	2,154 (+7%)	4mo	$70,000	$32	45
16864 Santa Rosa Dr	0.60mi	4/1.5 (-1)	1,764 (-12%)	1mo	$170,000	$96	44
18041 Griggs St	0.67mi	4/2.0 (-1)	2,300 (+14%)	3mo	$202,025	$88	37

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: 6.7%
• Equity multiple: 1.26×
• Total profit: $9,184
• Equity at exit: $18,623

10-year hold

• IRR: 16.6%
• Equity multiple: 2.40×
• Total profit: $48,819
• Equity at exit: $10,799

Cash invested: $34,972 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,945 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$383 /mo · $4,601/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $446

Break-even live

Break-even rent $1,380

Max offer price $124,900

Occupancy floor 72%

Sensitivity live

Price	-10% $516	-5% $481	+0% $446	+5% $410	+10% $375
Rent	-10% $292	-5% $369	+0% $446	+5% $523	+10% $599
Rate	-1.0pp $509	-0.5pp $478	base $446	+0.5pp $413	+1.0pp $380

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.85mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	1.05mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	5d	1	1.33mi

Listing history 5 events

1. 2026-06-21
   days on market $124,900 Active 5 DOM
2. 2026-06-19
   status $124,900 Active 2 DOM
3. 2026-06-13
   statusdays on market $124,900 Pending 2 DOM
4. 2026-06-09
   remarks 248-char remark
5. 2026-06-09
   listed $124,900 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: $4,601 · $383/mo
• Projected year-2 tax: $4,601 · $383/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: $23,335
• − Mortgage interest: −$6,996
• − Property taxes: −$4,601
• − Insurance: −$624
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$3,633
• Taxable income: $3,746
• Est. tax owed @ 24.0%: −$899
• After-tax cash flow: $4,450/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

-23.4% since first listed

9 events — show timeline

• 2026-06-08 Listed $124,900 REALCOMP
• 2026-06-08 Listed $124,900 MiRealSource-MiMLS
• 2009-03-24 Listing Removed — REALCOMP
• 2009-03-24 Listing Removed — MiRealSource-MiMLS
• 2009-03-19 Listed $25,000 REALCOMP
• 2009-03-19 Listed $25,000 MiRealSource-MiMLS
• 2007-03-23 Sold (Public Records) $153,000 Public Records
• 2007-02-21 Listing Removed — REALCOMP
• 2006-12-26 Listed $163,000 REALCOMP

Property tax history

+7.4%/yr

Latest (2025): $4,601 · +0.5% YoY. Source: county tax records.