17206 Salem St · Detroit, MI 48219

$37,500

3 bd · 1.0 ba · 854 sqft · SingleFamily public records · 95 Days on market

Built 1944 8,712 sqft lot $44/sqft · 63% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 17206 Salem Street, a classic Detroit home with 3 bedrooms and 1 full bath! This bungalow-style residence offers a comfortable layout and plenty of potential for updates and personalization. Inside you'll find a spacious living area that flows into a practical kitchen - perfect for everyday living. The bedrooms are well-sized and the full bathroom keeps things simple and functional. A basement adds valuable storage or future finishing space based on your needs. The home sits on a deep lot with room for outdoor enjoyment, and a detached garage provides convenient parking or extra storage. With its solid structure and classic charm, this property is a great opportunity for a homeowner or investor looking to add value in Detroit. Perfect for anyone ready to bring their own updates and make it their own!

Key facts

• Deep lot
• Spacious living area
• Bungalow style

Tags

• BUNGALOW STYLE
• SPACIOUS LIVING AREA
• PRACTICAL KITCHEN
• DEEP LOT
• DETACHED GARAGE
• VALUABLE STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $34k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.2% 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 (+8.0%/yr); 305 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $259 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y ago; this cycle's ask has dropped $2k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $38k implies a 621% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,125 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 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 1944 — 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: 3.39% ✓
• Cap rate: 29.17%
• Cash-on-cash: 81.72%
• DSCR: 4.64
• GRM: 2.5

CMA / ARV

• ARV (median comp): $101,570
• List price: $37,500
• Delta: -63.08%
• 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
17727 Woodbine St	0.48mi	3/1.5	850 (-0%)	0mo	$58,000	$68	75
17630 Brady	0.30mi	3/1.0	916 (+7%)	1mo	$164,000	$179	73
16618 Salem St	0.33mi	2/1.0 (-1)	833 (-2%)	4mo	$47,500	$57	72
17324 Salem St	0.08mi	2/1.0 (-1)	954 (+12%)	2mo	$74,900	$79	70
16841 Winston St	0.24mi	3/1.0	954 (+12%)	4mo	$95,500	$100	66
16230 Winston St	0.49mi	3/1.0	917 (+7%)	1mo	$80,000	$87	64
18680 Five Points St	0.73mi	2/1.5 (-1)	837 (-2%)	1mo	$95,000	$114	55
18671 Five Points St	0.72mi	2/1.0 (-1)	876 (+3%)	2mo	$72,000	$82	55
17606 Norborne	0.74mi	3/2.0	818 (-4%)	1mo	$157,500	$193	54
25012 Midland	0.72mi	2/1.0 (-1)	900 (+5%)	4mo	$85,000	$94	49
24859 Puritan	0.62mi	2/1.0 (-1)	768 (-10%)	2mo	$92,000	$120	47
18490 Sumner	0.72mi	3/1.0	980 (+15%)	0mo	$145,000	$148	42

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: 87.8%
• Equity multiple: 5.40×
• Total profit: $46,211
• Equity at exit: $5,591

10-year hold

• IRR: 92.0%
• Equity multiple: 13.34×
• Total profit: $129,571
• Equity at exit: $3,242

Cash invested: $10,500 (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: 305
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,270 high
• Mortgage (P&I): −$197
• Tax from tax record: −$76 /mo · $910/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $715

Break-even live

Break-even rent $365

Max offer price $37,500

Occupancy floor 39%

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: $9,375
• Closing costs: $1,125
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	24d	1	0.08mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	18d	1	0.40mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	44d	1	0.45mi
16800 Telegraph Rd Detroit, MI	2.0	1.0	775	$875	$1.13	44d	1	0.52mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	44d	1	0.57mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	5d	1	0.60mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	24d	1	0.62mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	18d	1	0.73mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	13d	1	0.76mi
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	5d	1	0.92mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	44d	3	0.94mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	24d	1	1.10mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	24d	1	1.11mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	1.12mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	1.12mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	17d	1	1.23mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	44d	2	1.26mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	5d	1	1.28mi
26539 Clarita Redford, MI	3.0	1.5	931	$1,875	$2.01	24d	1	1.30mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	44d	1	1.35mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	44d	1	1.44mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.47mi

Listing history 29 events

1. 2026-06-18
   days on market $37,500 Active 95 DOM
2. 2026-06-17
   status $37,500 Active 94 DOM
3. 2026-06-07
   status $37,500 Pending 94 DOM
4. 2026-06-04
   days on market $37,500 Active 94 DOM
5. 2026-06-03
   days on market $37,500 Active 93 DOM
6. 2026-06-01
   days on market $37,500 Active 91 DOM
7. 2026-05-31
   days on market $37,500 Active 90 DOM
8. 2026-04-25
   price $37,500 824-char remark

   Show marketing remark (824 chars)

   Welcome to 17206 Salem Street, a classic Detroit home with 3 bedrooms and 1 full bath! This bungalow-style residence offers a comfortable layout and plenty of potential for updates and personalization. Inside you'll find a spacious living area that flows into a practical kitchen - perfect for everyday living. The bedrooms are well-sized and the full bathroom keeps things simple and functional. A basement adds valuable storage or future finishing space based on your needs. The home sits on a deep lot with room for outdoor enjoyment, and a detached garage provides convenient parking or extra storage. With its solid structure and classic charm, this property is a great opportunity for a homeowner or investor looking to add value in Detroit. Perfect for anyone ready to bring their own updates and make it their own!

9. 2026-04-24
   price $37,500 834-char remark

   Show marketing remark (834 chars)

   Welcome to 17206 Salem Street, a classic Detroit home with 3 bedrooms and 1 full bath! This bungalow-style residence offers a comfortable layout and plenty of potential for updates and personalization. Inside you’ll find a spacious living area that flows into a practical kitchen — perfect for everyday living. The bedrooms are well-sized and the full bathroom keeps things simple and functional. A basement adds valuable storage or future finishing space based on your needs. The home sits on a deep lot with room for outdoor enjoyment, and a detached garage provides convenient parking or extra storage. With its solid structure and classic charm, this property is a great opportunity for a homeowner or investor looking to add value in Detroit. Perfect for anyone ready to bring their own updates and make it their own!

10. 2026-03-02
    listed $40,000 Active 824-char remark

    Show marketing remark (834 chars)

    Welcome to 17206 Salem Street, a classic Detroit home with 3 bedrooms and 1 full bath! This bungalow-style residence offers a comfortable layout and plenty of potential for updates and personalization. Inside you’ll find a spacious living area that flows into a practical kitchen — perfect for everyday living. The bedrooms are well-sized and the full bathroom keeps things simple and functional. A basement adds valuable storage or future finishing space based on your needs. The home sits on a deep lot with room for outdoor enjoyment, and a detached garage provides convenient parking or extra storage. With its solid structure and classic charm, this property is a great opportunity for a homeowner or investor looking to add value in Detroit. Perfect for anyone ready to bring their own updates and make it their own!

11. 2026-03-02
    listed $40,000 Active 834-char remark

    Show marketing remark (834 chars)

    Welcome to 17206 Salem Street, a classic Detroit home with 3 bedrooms and 1 full bath! This bungalow-style residence offers a comfortable layout and plenty of potential for updates and personalization. Inside you’ll find a spacious living area that flows into a practical kitchen — perfect for everyday living. The bedrooms are well-sized and the full bathroom keeps things simple and functional. A basement adds valuable storage or future finishing space based on your needs. The home sits on a deep lot with room for outdoor enjoyment, and a detached garage provides convenient parking or extra storage. With its solid structure and classic charm, this property is a great opportunity for a homeowner or investor looking to add value in Detroit. Perfect for anyone ready to bring their own updates and make it their own!

12. 2013-03-01
    soldstatus $5,200
13. 2013-03-01
    soldstatus $5,200
14. 2013-02-01
    historical
15. 2013-01-25
    listed $3,500
16. 2013-01-25
    listed $3,500
17. 2013-01-25
    historical
18. 2013-01-25
    historical
19. 2012-07-19
    listed $5,500
20. 2012-07-19
    listed $5,500
21. 2012-02-01
    historical
22. 2012-02-01
    historical
23. 2011-03-30
    listed $10,000
24. 2011-03-30
    listed $10,000
25. 2011-03-29
    historical
26. 2011-03-29
    historical
27. 2010-12-03
    listed $61,900
28. 2010-12-03
    listed $61,900
29. 1993-11-04
    soldstatus $33,052

ⓘ 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: $910 · $76/mo
• Projected year-2 tax: $910 · $76/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 ≥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: $15,237
• − Mortgage interest: −$2,101
• − Property taxes: −$910
• − Insurance: −$188
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$1,091
• Taxable income: $8,510
• Est. tax owed @ 24.0%: −$2,043
• After-tax cash flow: $6,538/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

+13.5% since first listed

22 events — show timeline

• 2026-04-25 Price Changed $37,500 MiRealSource-MiMLS
• 2026-04-24 Price Changed $37,500 REALCOMP
• 2026-03-02 Listed $40,000 REALCOMP
• 2026-03-02 Listed $40,000 MiRealSource-MiMLS
• 2013-03-01 Sold (MLS) $5,200 REALCOMP
• 2013-03-01 Sold (MLS) $5,200 MiRealSource-MiMLS
• 2013-02-01 Listing Removed — MiRealSource-MiMLS
• 2013-01-25 Listing Removed — MiRealSource-MiMLS
• 2013-01-25 Listing Removed — REALCOMP
• 2013-01-25 Listed $3,500 REALCOMP
• 2013-01-25 Listed $3,500 MiRealSource-MiMLS
• 2012-07-19 Listed $5,500 MiRealSource-MiMLS
• 2012-07-19 Listed $5,500 REALCOMP
• 2012-02-01 Listing Removed — REALCOMP
• 2012-02-01 Listing Removed — MiRealSource-MiMLS
• 2011-03-30 Listed $10,000 REALCOMP
• 2011-03-30 Listed $10,000 MiRealSource-MiMLS
• 2011-03-29 Listing Removed — REALCOMP
• 2011-03-29 Listing Removed — MiRealSource-MiMLS
• 2010-12-03 Listed $61,900 REALCOMP
• 2010-12-03 Listed $61,900 MiRealSource-MiMLS
• 1993-11-04 Sold (Public Records) $33,052 Public Records

Property tax history

-5.3%/yr

Latest (2025): $910 · -7.8% YoY. Source: county tax records.