16164 Monica St · Detroit, MI 48221

$4,500

2 bd · 1.0 ba · 801 sqft · SingleFamily public records · 1357 Days on market

Built 1926 3,920 sqft lot $6/sqft · 91% 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
• 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

Welcome to the latest offering from the Detroit Land Bank Authority. 2 bedroom frame home just ready for your renovation touches. Property needs a full rehab and all buyers are required to follow DLBA offer guidelines in order to purchase. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

Key facts

• 3,920 sq ft lot
• Garage
• Built 1926

Property features AI

Finance

• Other: No additional financial details
• Financial info: No financial or investor details provided
• HOA & community: HOA information not provided

Exterior

• Parking: Detached 1-car garage
• Security: Security features not provided
• Utilities: Public water; Public sewer; Sewer available
• Home design: Single-family residence; One-story; Ground-level entry with steps
• Construction: Wood siding; Block foundation
• Exterior features: Paved road; Lot dimensions approximately 35 x 111 feet; Lot about 0.09 acres

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Bedrooms count not specified
• Flooring: Flooring details not provided
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Unfinished basement; Two total rooms
• Laundry & utility: Laundry details not provided

🏷️ Possibly a rental listed for sale. The $4,500 price doesn't fit this home's estimated sale value (~$52,872) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $4k.

Deal economics

• At list price, monthly cash flow is $917 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $4k).
• Recommended offer: $4k (12.0% below list) — sets the bar for market timing.
• Cap rate 250.8% 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 (+3.4%/yr); 349 active listings in the ZIP; 40 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; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $31 of loan paydown is wiped out by about $135 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 $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1357 days — a 12% lower offer ($4k) is reasonable based on typical stale-listing flexibility.
• 2 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: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 1357 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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?
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: 26.67% ✓
• Cap rate: 250.80%
• Cash-on-cash: 873.22%
• DSCR: 39.85
• GRM: 0.3

CMA / ARV

• ARV (median comp): $52,872
• List price: $4,500
• Delta: -91.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16898 Lilac St	0.40mi	2/1.0	814 (+2%)	0mo	$62,000	$76	79
6445 SW Globe St S	0.30mi	2/1.0	795 (-1%)	18mo	$30,000	$38	70
6362 Globe St	0.29mi	2/1.0	888 (+11%)	0mo	$15,000	$17	68
16230 Santa Rosa Dr	0.08mi	2/1.0	895 (+12%)	10mo	$120,000	$134	68
15841 Tuller St	0.28mi	3/1.0 (+1)	816 (+2%)	23mo	$27,200	$33	60
15893 Alden St	0.66mi	2/1.5	836 (+4%)	1mo	$24,000	$29	59
16135 Cherrylawn St	0.58mi	3/1.0 (+1)	816 (+2%)	7mo	$70,000	$86	59
7300 Ellsworth St	0.61mi	2/1.0	836 (+4%)	10mo	$30,000	$36	56
7326 Ellsworth St	0.61mi	2/1.0	756 (-6%)	13mo	$35,000	$46	52

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: —
• Equity multiple: 47.21×
• Total profit: $58,219
• Equity at exit: $671

10-year hold

• IRR: —
• Equity multiple: 102.73×
• Total profit: $128,174
• Equity at exit: $389

Cash invested: $1,260 (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: 0.3×

Monthly cashflow live

• Estimated rent: $1,200 high
• Mortgage (P&I): −$24
• Tax est. 1.5%: −$6 /mo · $68/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $917

Break-even live

Break-even rent $39

Max offer price $4,500

Occupancy floor 19%

Sensitivity live

Price	-10% $920	-5% $918	+0% $917	+5% $915	+10% $914
Rent	-10% $822	-5% $869	+0% $917	+5% $964	+10% $1,012
Rate	-1.0pp $919	-0.5pp $918	base $917	+0.5pp $916	+1.0pp $915

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: $1,125
• Closing costs: $135
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.28mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.36mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.36mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.47mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	0.48mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	18d	1	0.48mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.58mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.70mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.70mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.70mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.70mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	0.73mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	44d	1	0.76mi
14950 Stoepel St Detroit, MI	2.0	1.0	600	$900	$1.50	24d	1	0.77mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	0.78mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.78mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	0.79mi
2623 W McNichols Rd Unit 23106 Detroit, MI	1.0	1.0	750	$1,075	$1.43	44d	1	0.88mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	0.92mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.99mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.13mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	1.13mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	1.13mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	1.13mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.13mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	1.22mi
3808 Kendall St Unit 3 Detroit, MI	1.0	1.0	550	$700	$1.27	44d	1	1.24mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	1.29mi
1875 Ewald Cir Unit 2E Detroit, MI	1.0	1.0	725	$875	$1.21	5d	1	1.30mi
2341 Ewald Cir Unit 3 Detroit, MI	1.0	1.0	600	$900	$1.50	44d	1	1.33mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	1.33mi
1705 Oakman Blvd Unit 5 Detroit, MI	1.0	1.0	650	$895	$1.38	44d	1	1.34mi
1705 Oakman Blvd Unit 10 Detroit, MI	1.0	1.0	650	$895	$1.38	24d	1	1.34mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	1.36mi
19031 Livernois Unit F Detroit, MI	2.0	2.0	1100	$2,135	$1.94	44d	1	1.40mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	1.41mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	1.42mi
3266 Pasadena St Unit 3 Detroit, MI	1.0	1.0	696	$700	$1.01	44d	1	1.42mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	1.43mi
18461 Washburn St Detroit, MI	1.0	1.0	690	$775	$1.12	44d	1	1.43mi

Listing history 14 events

1. 2026-06-18
   days on market $4,500 Active 1357 DOM
2. 2026-06-17
   days on market $4,500 Active 1356 DOM
3. 2026-06-15
   days on market $4,500 Active 1354 DOM
4. 2026-06-13
   days on market $4,500 Active 1352 DOM
5. 2026-06-13
   days on market $4,500 Active 1351 DOM
6. 2026-06-09
   days on market $4,500 Active 1348 DOM
7. 2026-06-08
   days on market $4,500 Active 1347 DOM
8. 2026-06-07
   days on market $4,500 Active 1346 DOM
9. 2026-06-04
   days on market $4,500 Active 1343 DOM
10. 2026-06-03
    days on market $4,500 Active 1342 DOM
11. 2026-06-01
    days on market $4,500 Active 1340 DOM
12. 2026-05-31
    days on market $4,500 Active 1339 DOM
13. 2022-09-30
    listed $4,500 Active
14. 2022-09-29
    listed $4,500 Active 839-char remark

    Show marketing remark (839 chars)

    Welcome to the latest offering from the Detroit Land Bank Authority. 2 bedroom frame home just ready for your renovation touches. Property needs a full rehab and all buyers are required to follow DLBA offer guidelines in order to purchase. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,400
• − Mortgage interest: −$252
• − Property taxes: −$68
• − Insurance: −$22
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$131
• Taxable income: $11,623
• Est. tax owed @ 24.0%: −$2,789
• After-tax cash flow: $8,213/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

+0.0% since first listed

2 events — show timeline

• 2022-09-30 Listed $4,500 REALCOMP
• 2022-09-29 Listed $4,500 MiRealSource-MiMLS

Property tax history

+16.0%/yr

Latest (2025): $1,227 · +0.0% YoY. Source: county tax records.