18109 Justine St · Detroit, MI 48234

$15,900

2 bd · 1.0 ba · 915 sqft · SingleFamily public records · 21 Days on market

Built 1924 3,049 sqft lot $17/sqft · 67% below area

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Why this score? — see what drove the D 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 +7.5/15.0
• 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

Amazing opportunity on this Detroit home! Over 900 square feet. The possibilities are endless! Spacious backyard. Property is located near the Chrysler plant on Mound Rd. Sold as is. Buyer and agent to verify all information. Seller does not prorate taxes or pay delinquent taxes. Buyer assumes all closing and deed costs. Buyer must hire a title company/attorney and order a title search to confirm clear title. Buyer can close with Title search, Deed and Settlement Statement, OR a Full Closing with Insurance. Either is fine and buyers choice. * BUYER must CHOOSE TITLE COMPANY and BUYER assumes all closing and deed costs (buyer and seller side).

Key facts

• Spacious backyard
• 3,049 sq ft lot
• Built 1924

Tags

• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Recommended offer: $16k (1.5% below list) — sets the bar for market timing.
• Cap rate 71.5% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 22 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 ($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 $110 of loan paydown is wiped out by about $477 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $14k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,661 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.68% ✓
• Cap rate: 71.51%
• Cash-on-cash: 232.93%
• DSCR: 11.36
• GRM: 1.1

CMA / ARV

• ARV (median comp): $48,631
• List price: $15,900
• Delta: -65.25%
• 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
18830 Hasse St	0.33mi	3/1.0 (+1)	898 (-2%)	7mo	$36,500	$41	70
19227 Ryan Rd	0.57mi	3/1.0 (+1)	919 (+0%)	1mo	$38,000	$41	66
19235 Lamont St	0.57mi	2/1.0	960 (+5%)	1mo	$40,000	$42	65
17885 Binder St	0.31mi	3/1.0 (+1)	844 (-8%)	6mo	$75,000	$89	63
17833 Binder St	0.34mi	3/1.0 (+1)	1,000 (+9%)	4mo	$46,000	$46	60
18905 Dean St	0.40mi	3/1.0 (+1)	990 (+8%)	6mo	$88,900	$90	58
17955 Charest St	0.61mi	3/1.0 (+1)	880 (-4%)	4mo	$51,800	$59	57
18485 Moenart St	0.44mi	3/1.0 (+1)	834 (-9%)	4mo	$58,500	$70	56
19300 Binder St	0.64mi	2/1.0	820 (-10%)	4mo	$10,000	$12	50
19392 Justine St	0.66mi	3/1.0 (+1)	1,000 (+9%)	3mo	$45,000	$45	46
19322 Shields St	0.60mi	3/1.0 (+1)	1,050 (+15%)	6mo	$43,000	$41	38
17892 Mitchell St	0.70mi	3/1.0 (+1)	1,051 (+15%)	7mo	$32,500	$31	32

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: 13.85×
• Total profit: $57,219
• Equity at exit: $2,371

10-year hold

• IRR: —
• Equity multiple: 32.84×
• Total profit: $141,762
• Equity at exit: $1,375

Cash invested: $4,452 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,222 high
• Mortgage (P&I): −$83
• Tax from tax record: −$11 /mo · $130/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $864

Break-even live

Break-even rent $128

Max offer price $15,900

Occupancy floor 24%

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: $3,975
• Closing costs: $477
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	17d	1	0.19mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	0.55mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.55mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	0.61mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	0.61mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.71mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.74mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.74mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	23d	1	0.75mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.76mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.80mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.94mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	0.96mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.97mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	1.06mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.06mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	1.17mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	43d	1	1.20mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.29mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.33mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.40mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	1.50mi

Listing history 42 events

1. 2026-06-18
   days on market $15,900 Active 21 DOM
2. 2026-06-17
   days on market $15,900 Active 20 DOM
3. 2026-06-15
   days on market $15,900 Active 18 DOM
4. 2026-06-13
   days on market $15,900 Active 16 DOM
5. 2026-06-13
   pricedays on market $15,900 Active 15 DOM
6. 2026-06-09
   days on market $16,900 Active 12 DOM
7. 2026-06-08
   days on market $16,900 Active 11 DOM
8. 2026-06-07
   days on market $16,900 Active 10 DOM
9. 2026-06-04
   days on market $16,900 Active 7 DOM
10. 2026-06-03
    days on market $16,900 Active 6 DOM
11. 2026-06-02
    days on market $16,900 Active 5 DOM
12. 2026-06-01
    days on market $16,900 Active 4 DOM
13. 2026-05-31
    days on market $16,900 Active 3 DOM
14. 2026-05-17
    historical
15. 2026-05-17
    historical
16. 2026-05-13
    price $16,900
17. 2026-05-12
    price $16,900
18. 2026-04-27
    price $18,900
19. 2026-04-27
    price $18,900
20. 2026-02-21
    price $20,900
21. 2026-02-20
    price $21,900
22. 2026-02-20
    price $20,900
23. 2026-02-20
    price $21,900
24. 2026-01-24
    price $23,900
25. 2026-01-23
    price $23,900
26. 2026-01-10
    price $26,900
27. 2026-01-09
    price $26,900
28. 2025-12-01
    listed $29,900 Active
29. 2025-12-01
    listed $29,900 Active
30. 2024-04-17
    historical
31. 2024-04-17
    historical
32. 2024-04-08
    price $18,000
33. 2024-04-08
    price $18,000
34. 2024-04-04
    price $20,000
35. 2024-04-04
    price $20,000
36. 2024-03-29
    listed $25,000 Active
37. 2024-03-29
    listed $25,000 Active
38. 2005-01-12
    soldstatus $23,000
39. 2003-12-15
    historical
40. 2003-07-02
    listed $29,900
41. 2001-09-27
    soldstatus $61,000
42. 1993-08-04
    soldstatus $9,176

ⓘ 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: $130 · $11/mo
• Projected year-2 tax: $187 · $16/mo
• Expected delta: +$57/yr (+$5/mo · 44.2%)

ⓘ 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: $14,658
• − Mortgage interest: −$891
• − Property taxes: −$130
• − Insurance: −$80
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$463
• Taxable income: $10,750
• Est. tax owed @ 24.0%: −$2,580
• After-tax cash flow: $7,790/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

+84.2% since first listed

29 events — show timeline

• 2026-05-17 Listing Removed — MiRealSource-MiMLS
• 2026-05-17 Listing Removed — REALCOMP
• 2026-05-13 Price Changed $16,900 MiRealSource-MiMLS
• 2026-05-12 Price Changed $16,900 REALCOMP
• 2026-04-27 Price Changed $18,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $18,900 REALCOMP
• 2026-02-21 Price Changed $20,900 MiRealSource-MiMLS
• 2026-02-20 Price Changed $21,900 MiRealSource-MiMLS
• 2026-02-20 Price Changed $20,900 REALCOMP
• 2026-02-20 Price Changed $21,900 REALCOMP
• 2026-01-24 Price Changed $23,900 MiRealSource-MiMLS
• 2026-01-23 Price Changed $23,900 REALCOMP
• 2026-01-10 Price Changed $26,900 MiRealSource-MiMLS
• 2026-01-09 Price Changed $26,900 REALCOMP
• 2025-12-01 Listed $29,900 REALCOMP
• 2025-12-01 Listed $29,900 MiRealSource-MiMLS
• 2024-04-17 Listing Removed — MiRealSource-MiMLS
• 2024-04-17 Listing Removed — REALCOMP
• 2024-04-08 Price Changed $18,000 MiRealSource-MiMLS
• 2024-04-08 Price Changed $18,000 REALCOMP
• 2024-04-04 Price Changed $20,000 MiRealSource-MiMLS
• 2024-04-04 Price Changed $20,000 REALCOMP
• 2024-03-29 Listed $25,000 MiRealSource-MiMLS
• 2024-03-29 Listed $25,000 REALCOMP
• 2005-01-12 Sold (Public Records) $23,000 Public Records
• 2003-12-15 Listing Removed — REALCOMP
• 2003-07-02 Listed $29,900 REALCOMP
• 2001-09-27 Sold (Public Records) $61,000 Public Records
• 1993-08-04 Sold (Public Records) $9,176 Public Records

Property tax history

-7.1%/yr

Latest (2025): $130 · -50.2% YoY. Source: county tax records.