18128 Fleming St · Detroit, MI 48234

$23,000

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 76 Days on market

Built 1926 3,485 sqft lot Est $31k · 27% under ↓ 39% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• 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! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

Key facts

• Bonus room
• Large lot
• Full basement

Tags

• INVESTMENT OPPORTUNITY
• BONUS ROOM
• FULL BASEMENT
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $22k (6.0% below list) — sets the bar for market timing.
• Cap rate 45.7% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 ($35k/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 $159 of loan paydown is wiped out by about $690 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 + 6.7% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $12k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,620 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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: 5.18% ✓
• Cap rate: 45.66%
• Cash-on-cash: 140.59%
• DSCR: 7.26
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $31,350
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18128 Fleming St	0.00mi	2/1.0	950 (0%)	1mo	$21,500	$23	99
17888 Marx St	0.28mi	3/1.0 (+1)	937 (-1%)	2mo	$34,000	$36	78
18547 Anglin St	0.22mi	3/1.0 (+1)	1,000 (+5%)	6mo	$93,000	$93	71
18877 Fleming St	0.28mi	2/1.0	870 (-8%)	3mo	$9,900	$11	71
17569 Orleans St	0.45mi	3/1.0 (+1)	1,002 (+6%)	6mo	$85,000	$85	60
17955 Charest St	0.46mi	3/1.0 (+1)	880 (-7%)	4mo	$51,800	$59	58
17139 Mackay St	0.60mi	3/1.0 (+1)	896 (-6%)	1mo	$30,000	$33	57
17892 Mitchell St	0.41mi	3/1.0 (+1)	1,051 (+11%)	7mo	$32,500	$31	52
17489 Saint Aubin St	0.39mi	3/1.0 (+1)	1,072 (+13%)	6mo	$70,000	$65	50
19163 Orleans St	0.55mi	2/1.0	1,080 (+14%)	2mo	$32,500	$30	50
19403 Anglin St	0.67mi	3/1.0 (+1)	1,000 (+5%)	7mo	$22,500	$23	49
17138 Marx St	0.63mi	3/1.0 (+1)	1,089 (+15%)	2mo	$26,500	$24	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.61×
• Total profit: $48,986
• Equity at exit: $3,429

10-year hold

• IRR: —
• Equity multiple: 20.44×
• Total profit: $125,163
• Equity at exit: $1,989

Cash invested: $6,440 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,191 high
• Mortgage (P&I): −$121
• Tax from tax record: −$56 /mo · $675/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $754

Break-even live

Break-even rent $236

Max offer price $23,000

Occupancy floor 32%

Sensitivity live

Price	-10% $768	-5% $761	+0% $754	+5% $748	+10% $741
Rent	-10% $660	-5% $707	+0% $754	+5% $802	+10% $849
Rate	-1.0pp $766	-0.5pp $760	base $754	+0.5pp $749	+1.0pp $742

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	0.09mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.15mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.16mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.35mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.37mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	0.81mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	44d	1	0.89mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.90mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.91mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.96mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.17mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	1.19mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.33mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.42mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.45mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.45mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	1.46mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	1.46mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	1.50mi

Listing history 26 events

1. 2026-04-22
   status Pending

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

2. 2026-04-22
   status Pending 371-char remark

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

3. 2026-03-24
   price $23,000 371-char remark

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

4. 2026-03-24
   status Active 371-char remark

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

5. 2026-03-24
   status Active

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

6. 2026-03-24
   price $23,000

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

7. 2026-02-07
   status Pending 371-char remark

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

8. 2026-02-07
   status Pending

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

9. 2026-01-24
   price $26,000 371-char remark

   Show marketing remark (371 chars)

   Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

10. 2026-01-23
    price $26,000
11. 2026-01-10
    price $29,000 371-char remark

    Show marketing remark (371 chars)

    Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

12. 2026-01-10
    price $29,000

    Show marketing remark (371 chars)

    Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

13. 2025-12-22
    listed $35,000 Active

    Show marketing remark (371 chars)

    Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

14. 2025-12-22
    listed $35,000 Active 371-char remark

    Show marketing remark (371 chars)

    Great investment opportunity! Start the year off right with a fix and flip or with an income generating rental property in a nice neighborhood. 2 bedroom, 1 bath with a bonus room in the upper level that can be used as an additional bedroom. Full basement and large lot adjacent to house great for gatherings! CASH ONLY. SOLD AS IS. Probate sale, court approval required.

15. 2025-11-07
    status Pending
16. 2025-05-23
    status Pending
17. 2025-05-23
    status Pending
18. 2025-05-22
    historical
19. 2025-05-22
    historical
20. 2025-05-22
    historical
21. 2025-05-15
    price $29,000
22. 2025-05-14
    price $29,000
23. 2025-02-02
    price $34,000
24. 2025-02-01
    price $34,000
25. 2025-01-15
    listed $38,000 Active
26. 2025-01-15
    listed $38,000 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: $675 · $56/mo
• Projected year-2 tax: $675 · $56/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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,292
• − Mortgage interest: −$1,288
• − Property taxes: −$675
• − Insurance: −$115
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$669
• Taxable income: $9,258
• Est. tax owed @ 24.0%: −$2,222
• After-tax cash flow: $6,832/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

-39.5% since first listed

26 events — show timeline

• 2026-04-22 Pending — REALCOMP
• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-03-24 Price Changed $23,000 MiRealSource-MiMLS
• 2026-03-24 Relisted — MiRealSource-MiMLS
• 2026-03-24 Relisted — REALCOMP
• 2026-03-24 Price Changed $23,000 REALCOMP
• 2026-02-07 Pending — MiRealSource-MiMLS
• 2026-02-07 Pending — REALCOMP
• 2026-01-24 Price Changed $26,000 MiRealSource-MiMLS
• 2026-01-23 Price Changed $26,000 REALCOMP
• 2026-01-10 Price Changed $29,000 MiRealSource-MiMLS
• 2026-01-10 Price Changed $29,000 REALCOMP
• 2025-12-22 Listed $35,000 MiRealSource-MiMLS
• 2025-12-22 Listed $35,000 REALCOMP
• 2025-11-07 Pending — REALCOMP
• 2025-05-23 Pending — MiRealSource-MiMLS
• 2025-05-23 Pending — REALCOMP
• 2025-05-22 Listing Removed — MiRealSource-MiMLS
• 2025-05-22 Listing Removed — REALCOMP
• 2025-05-22 Listing Removed — REALCOMP
• 2025-05-15 Price Changed $29,000 MiRealSource-MiMLS
• 2025-05-14 Price Changed $29,000 REALCOMP
• 2025-02-02 Price Changed $34,000 MiRealSource-MiMLS
• 2025-02-01 Price Changed $34,000 REALCOMP
• 2025-01-15 Listed $38,000 REALCOMP
• 2025-01-15 Listed $38,000 MiRealSource-MiMLS

Property tax history

-0.8%/yr

Latest (2025): $675 · -53.2% YoY. Source: county tax records.