17401 Albion St · Detroit, MI 48234

$50,000

2 bd · 1.0 ba · 865 sqft · SingleFamily public records · 55 Days on market

Built 1950 4,792 sqft lot Est $52k · at est.

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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 +9.1/15.0
• 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. This 2 bedroom brick home offers strong potential with an unfinished attic that could be converted into a third bedroom, adding value and additional living space. This property is currently tenant occupied, providing immediate rental income. This is a Cash Tenant – Rent $825/month, tenant pays all utilities. It is being sold site unseen and is contingent upon a private inspection. Don't miss this opportunity to expand your portfolio with a property that has built-in upside potential!

Key facts

• Unfinished attic
• 4,792 sq ft lot
• 2 garage spots

Tags

• UNFINISHED ATTIC
• IMMEDIATE RENTAL INCOME
• BUILT-IN UPSIDE POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% 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; 22 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 ($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 $346 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 + 6.7% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y 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 2.7% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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: 2.34% ✓
• Cap rate: 18.98%
• Cash-on-cash: 45.31%
• DSCR: 3.02
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $51,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17401 Albion St	0.00mi	2/1.0	865 (0%)	1mo	$50,000	$58	99
17311 Teppert St	0.16mi	2/1.0	875 (+1%)	14mo	$35,000	$40	79
17877 Rowe St	0.23mi	3/1.0 (+1)	868 (+0%)	11mo	$88,500	$102	74
11101 Portlance St	0.46mi	3/1.0 (+1)	897 (+4%)	9mo	$100,000	$111	60
11455 Kenmoor St	0.39mi	3/1.5 (+1)	955 (+10%)	4mo	$119,000	$125	54
11839 Greiner St	0.32mi	2/1.0	743 (-14%)	12mo	$22,000	$30	52
18488 Waltham St	0.75mi	3/1.0 (+1)	902 (+4%)	4mo	$56,000	$62	50
11294 Engleside St	0.51mi	2/1.0	986 (+14%)	4mo	$85,000	$86	50
17827 Bradford St	0.29mi	3/1.0 (+1)	992 (+15%)	15mo	$54,900	$55	45
18620 Blackmoor St	0.62mi	2/1.0	940 (+9%)	14mo	$56,000	$60	45
18081 Strasburg St	0.49mi	3/2.0 (+1)	954 (+10%)	10mo	$40,000	$42	43
11285 Christy St	0.72mi	3/1.0 (+1)	975 (+13%)	14mo	$44,250	$45	28

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: 46.9%
• Equity multiple: 3.15×
• Total profit: $30,143
• Equity at exit: $7,455

10-year hold

• IRR: 54.3%
• Equity multiple: 7.42×
• Total profit: $89,874
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$262
• Tax from tax record: −$111 /mo · $1,330/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $529

Break-even live

Break-even rent $499

Max offer price $50,000

Occupancy floor 50%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.24mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.42mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.50mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	17d	1	0.58mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.76mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.81mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.81mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.81mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.88mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.89mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.89mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.94mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.94mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	18d	1	1.06mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.08mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	1.08mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	1.10mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.17mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.24mi
14103 Rochelle Ave Unit 3 Detroit, MI	1.0	1.0	700	$800	$1.14	44d	1	1.35mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.39mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.49mi

Listing history 17 events

1. 2026-04-16
   status Pending 537-char remark

   Show marketing remark (537 chars)

   GREAT INVESTMENT OPPORTUNITY. This 2 bedroom brick home offers strong potential with an unfinished attic that could be converted into a third bedroom, adding value and additional living space. This property is currently tenant occupied, providing immediate rental income. This is a Cash Tenant – Rent $825/month, tenant pays all utilities. It is being sold site unseen and is contingent upon a private inspection. Don't miss this opportunity to expand your portfolio with a property that has built-in upside potential!

2. 2026-04-16
   status Pending

   Show marketing remark (537 chars)

   GREAT INVESTMENT OPPORTUNITY. This 2 bedroom brick home offers strong potential with an unfinished attic that could be converted into a third bedroom, adding value and additional living space. This property is currently tenant occupied, providing immediate rental income. This is a Cash Tenant – Rent $825/month, tenant pays all utilities. It is being sold site unseen and is contingent upon a private inspection. Don't miss this opportunity to expand your portfolio with a property that has built-in upside potential!

3. 2026-02-20
   listed $50,000 Active

   Show marketing remark (537 chars)

   GREAT INVESTMENT OPPORTUNITY. This 2 bedroom brick home offers strong potential with an unfinished attic that could be converted into a third bedroom, adding value and additional living space. This property is currently tenant occupied, providing immediate rental income. This is a Cash Tenant – Rent $825/month, tenant pays all utilities. It is being sold site unseen and is contingent upon a private inspection. Don't miss this opportunity to expand your portfolio with a property that has built-in upside potential!

4. 2026-02-20
   listed $50,000 Active 537-char remark

   Show marketing remark (537 chars)

   GREAT INVESTMENT OPPORTUNITY. This 2 bedroom brick home offers strong potential with an unfinished attic that could be converted into a third bedroom, adding value and additional living space. This property is currently tenant occupied, providing immediate rental income. This is a Cash Tenant – Rent $825/month, tenant pays all utilities. It is being sold site unseen and is contingent upon a private inspection. Don't miss this opportunity to expand your portfolio with a property that has built-in upside potential!

5. 2025-11-18
   historical
6. 2025-11-18
   historical
7. 2024-10-26
   listed $75,000 Active
8. 2024-10-26
   listed $75,000 Active
9. 2024-10-11
   historical
10. 2024-10-11
    historical
11. 2024-02-14
    listed $75,000 Active
12. 2024-02-13
    listed $75,000 Active
13. 2022-06-25
    historical
14. 2022-06-25
    historical
15. 2022-03-24
    listed $65,000 Active
16. 2022-03-24
    listed $65,000 Active
17. 2019-12-05
    soldstatus $168,020

ⓘ 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: $1,330 · $111/mo
• Projected year-2 tax: $1,330 · $111/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 · 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: $14,011
• − Mortgage interest: −$2,801
• − Property taxes: −$1,330
• − Insurance: −$250
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$1,455
• Taxable income: $5,934
• Est. tax owed @ 24.0%: −$1,424
• After-tax cash flow: $4,918/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

-70.2% since first listed

17 events — show timeline

• 2026-04-16 Pending — MiRealSource-MiMLS
• 2026-04-16 Pending — REALCOMP
• 2026-02-20 Listed $50,000 REALCOMP
• 2026-02-20 Listed $50,000 MiRealSource-MiMLS
• 2025-11-18 Listing Removed — MiRealSource-MiMLS
• 2025-11-18 Listing Removed — REALCOMP
• 2024-10-26 Listed $75,000 MiRealSource-MiMLS
• 2024-10-26 Listed $75,000 REALCOMP
• 2024-10-11 Listing Removed — MiRealSource-MiMLS
• 2024-10-11 Listing Removed — REALCOMP
• 2024-02-14 Listed $75,000 REALCOMP
• 2024-02-13 Listed $75,000 MiRealSource-MiMLS
• 2022-06-25 Listing Removed — MiRealSource-MiMLS
• 2022-06-25 Listing Removed — REALCOMP
• 2022-03-24 Listed $65,000 MiRealSource-MiMLS
• 2022-03-24 Listed $65,000 REALCOMP
• 2019-12-05 Sold (Public Records) $168,020 Public Records

Property tax history

-7.0%/yr

Latest (2025): $1,330 · -9.1% YoY. Source: county tax records.