19421 Forrer St · Detroit, MI 48235

$85,000

2 bd · 1.0 ba · 794 sqft · SingleFamily public records · 15 Days on market

Built 1943 4,792 sqft lot Est $58k · 47% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1125.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer (side lot included) and 19400 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

Key facts

• 4,792 sq ft lot
• Built 1943
• Listed 15 days

Property features AI

Exterior

• Home design: Ranch-style single family home; Built in 1943
• Construction: Brick construction
• Exterior features: Lot about 0.11 acres; Public water

Interior

• Kitchen: Kitchen (10 x 10)
• Bedrooms: Primary bedroom (10 x 10); Second bedroom (10 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 10.1% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+3.2%/yr); 290 active listings in the ZIP; 37 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 39% of the median local income ($39k/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 $588 of loan paydown is wiped out by about $3k 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 + 3.2% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — 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. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.33%
• DSCR: 2.04
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $57,962
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19470 Forrer St	0.05mi	2/1.0	771 (-3%)	6mo	$27,000	$35	88
18950 Biltmore St	0.53mi	2/1.0	781 (-2%)	1mo	$46,000	$59	71
19913 Prevost St	0.25mi	2/1.0	716 (-10%)	4mo	$27,900	$39	69
19510 Ferguson St	0.36mi	2/1.0	717 (-10%)	3mo	$21,000	$29	65
19786 Oakfield St	0.61mi	3/1.0 (+1)	780 (-2%)	7mo	$80,000	$103	58
19751 Oakfield St	0.63mi	2/1.0	735 (-7%)	1mo	$17,500	$24	57
19781 Oakfield St	0.63mi	2/1.0	752 (-5%)	8mo	$65,000	$86	55
19966 Prevost St	0.32mi	3/1.0 (+1)	890 (+12%)	7mo	$130,000	$146	54
19975 Ferguson St	0.53mi	3/1.0 (+1)	889 (+12%)	1mo	$50,650	$57	50
19142 Murray Hill St	0.33mi	3/1.0 (+1)	907 (+14%)	8mo	$87,000	$96	49
19318 Harlow St	0.65mi	3/1.0 (+1)	853 (+7%)	9mo	$62,500	$73	45
18410 Forrer St	0.64mi	3/1.0 (+1)	689 (-13%)	2mo	$60,000	$87	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.67×
• Total profit: $16,020
• Equity at exit: $12,674

10-year hold

• IRR: 25.4%
• Equity multiple: 3.24×
• Total profit: $53,239
• Equity at exit: $7,349

Cash invested: $23,800 (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 48235

• Rents YoY: 3.2%
• Active inventory: 290
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,291 high
• Mortgage (P&I): −$446
• Tax from tax record: −$76 /mo · $914/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $463

Break-even live

Break-even rent $705

Max offer price $85,000

Occupancy floor 59%

Sensitivity live

Price	-10% $511	-5% $487	+0% $463	+5% $439	+10% $415
Rent	-10% $361	-5% $412	+0% $463	+5% $514	+10% $565
Rate	-1.0pp $505	-0.5pp $484	base $463	+0.5pp $441	+1.0pp $418

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	0.07mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	17d	1	0.11mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	13d	1	0.48mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	0.60mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	4d	1	0.62mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	6d	1	0.63mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	25d	1	0.65mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	16d	5	0.68mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.69mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	6d	1	0.70mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	44d	1	0.76mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	6d	1	0.77mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	16d	1	0.82mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	17d	1	0.83mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	44d	1	0.84mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	44d	1	0.87mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	44d	1	0.92mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	17d	1	0.98mi
20539 Southfield Rd Detroit, MI	1.0	1.0	700	$800	$1.14	11d	4	1.06mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	3d	1	1.10mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	44d	1	1.10mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	25d	1	1.12mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	44d	1	1.14mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	44d	1	1.18mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.18mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	6d	1	1.22mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	44d	1	1.24mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.24mi
21697 Greenfield Rd Unit A-219 Oak Park, MI	1.0	1.0	714	$1,774	$2.48	25d	1	1.27mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	25d	1	1.31mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	1.38mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	16d	1	1.43mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	6d	1	1.44mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	44d	1	1.45mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	13d	1	1.46mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	17d	1	1.48mi
16500 N Park Dr Southfield, MI	1.0–3.0	1.0–2.5	1500	$1,844	$1.23	0d	1	1.50mi

Listing history 18 events

1. 2026-06-13
   statusdays on market $85,000 Pending 15 DOM
2. 2026-06-09
   days on market $85,000 Active 14 DOM
3. 2026-06-08
   days on market $85,000 Active 13 DOM
4. 2026-06-07
   days on market $85,000 Active 12 DOM
5. 2026-06-04
   days on market $85,000 Active 9 DOM
6. 2026-06-03
   days on market $85,000 Active 8 DOM
7. 2026-06-02
   days on market $85,000 Active 7 DOM
8. 2026-06-01
   days on market $85,000 Active 6 DOM
9. 2026-05-31
   days on market $85,000 Active 5 DOM
10. 2026-05-26
    listed $85,000 Active 455-char remark

    Show marketing remark (455 chars)

    DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1125.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer (side lot included) and 19400 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

11. 2026-05-26
    listed $85,000 Active

    Show marketing remark (455 chars)

    DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1125.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer (side lot included) and 19400 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

12. 2026-05-26
    listed $85,000 Active 455-char remark

    Show marketing remark (455 chars)

    DO NOT APPROACH THE TENANT OR PROPERTY. TENANT OCCUPIED - 1 YR LEASE IN PLACE RENT IS $1125.00 Charming brick home with 2 bedrooms, 1 bathroom home, finished basement and 1 car garage. The seller is also selling 19414 Forrer (side lot included) and 19400 Forrer if buyer is willing to buy all three plus the lot for a bulk price. No showing without an accepted offer. Property is subject to tenant rights. Don't miss out on this income producing property.

13. 2007-12-13
    historical
14. 2007-09-09
    listed $59,900
15. 2007-07-17
    historical
16. 2007-04-16
    listed $65,000
17. 2007-01-16
    historical
18. 2006-10-18
    listed $70,000

ⓘ 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: $914 · $76/mo
• Projected year-2 tax: $1,111 · $93/mo
• Expected delta: +$198/yr (+$16/mo · 21.6%)

ⓘ 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,493
• − Mortgage interest: −$4,761
• − Property taxes: −$914
• − Insurance: −$425
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$2,473
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,486/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+21.4% since first listed

9 events — show timeline

• 2026-05-26 Listed $85,000 REALCOMP
• 2026-05-26 Listed $85,000 MiRealSource-MiMLS
• 2026-05-26 Listed $85,000 SW Michigan MLS
• 2007-12-13 Listing Removed — REALCOMP
• 2007-09-09 Listed $59,900 REALCOMP
• 2007-07-17 Listing Removed — REALCOMP
• 2007-04-16 Listed $65,000 REALCOMP
• 2007-01-16 Listing Removed — REALCOMP
• 2006-10-18 Listed $70,000 REALCOMP

Property tax history

-4.3%/yr

Latest (2025): $914 · -53.6% YoY. Source: county tax records.