17344 Salem St · Detroit, MI 48219

$99,900

3 bd · 1.0 ba · 992 sqft · SingleFamily public records · 34 Days on market

Built 1944 8,712 sqft lot $101/sqft · 16% below area Est $121k · 17% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.8/10.0
• 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

Excellent investment opportunity at 17344 Salem in Detroit! This well-maintained 3-bedroom, 1.5-bath bungalow is tenant-occupied with a long-term, reliable tenant who has been in the property for over 10 years and is signing a new lease at $1,300 per month, making this a strong turnkey addition to any investor's portfolio. The home features an updated kitchen and full bathroom, plenty of natural light throughout, and a full basement with updated plumbing. Major improvements include a newer roof replaced within the last few years, helping provide peace of mind for future ownership. Outside, you'll find a large backyard along with a detached two-car garage. The property previously appraised for $120,000 just a couple of years ago, adding to the overall value and upside potential. Whether you are a seasoned investor or looking to start your rental portfolio, this income-producing property is a great low maintenance option!

Key facts

• Full bathroom
• Newer roof
• Large backyard

Tags

• UPDATED KITCHEN
• FULL BATHROOM
• FULL BASEMENT
• UPDATED PLUMBING
• NEWER ROOF
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps; Aluminum siding exterior; Brick/mortar foundation
• Construction: Aluminum siding construction; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.2 acres (50 x 172)

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

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 $691 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 + 8.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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.
• Current owner paid $10k; list at $100k implies a 899% 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 $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.28% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.97%
• DSCR: 1.53
• GRM: 6.5

CMA / ARV

• ARV (median comp): $120,505
• List price: $99,900
• Delta: -17.10%
• 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
17324 Salem St	0.02mi	2/1.0 (-1)	954 (-4%)	2mo	$74,900	$79	86
17630 Brady	0.21mi	3/1.0	916 (-8%)	1mo	$164,000	$179	76
16841 Winston St	0.34mi	3/1.0	954 (-4%)	4mo	$95,500	$100	74
18490 Sumner	0.64mi	3/1.0	980 (-1%)	0mo	$145,000	$148	68
17377 Glenmore St	0.55mi	3/1.0	1,050 (+6%)	4mo	$222,000	$211	61
18682 Sumner	0.73mi	3/1.0	969 (-2%)	2mo	$137,000	$141	60
16230 Winston St	0.59mi	3/1.0	917 (-8%)	1mo	$80,000	$87	59
18614 Winston St	0.56mi	3/1.0	1,064 (+7%)	5mo	$110,000	$103	58
17727 Woodbine St	0.40mi	3/1.5	850 (-14%)	0mo	$58,000	$68	55
16565 Woodbine St	0.58mi	3/1.0	1,105 (+11%)	2mo	$110,000	$100	52
18435 Glenmore	0.70mi	3/1.0	924 (-7%)	5mo	$170,000	$184	52
18671 Five Points St	0.62mi	2/1.0 (-1)	876 (-12%)	2mo	$72,000	$82	45

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: 7.2%
• Equity multiple: 1.30×
• Total profit: $8,381
• Equity at exit: $14,895

10-year hold

• IRR: 20.7%
• Equity multiple: 3.18×
• Total profit: $61,115
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$524
• Tax from tax record: −$166 /mo · $1,989/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $279

Break-even live

Break-even rent $926

Max offer price $99,900

Occupancy floor 73%

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: $24,975
• Closing costs: $2,997
• 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	0.01mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	18d	1	0.44mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	44d	1	0.51mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	44d	1	0.51mi
16800 Telegraph Rd Detroit, MI	2.0	1.0	775	$875	$1.13	44d	1	0.56mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	24d	1	0.64mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	5d	1	0.66mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	13d	1	0.69mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	18d	1	0.78mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	44d	3	0.87mi
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	5d	1	0.99mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	24d	1	1.03mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	24d	1	1.04mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	1.06mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	1.06mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	44d	2	1.20mi
26539 Clarita Redford, MI	3.0	1.5	931	$1,875	$2.01	24d	1	1.26mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	17d	1	1.30mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	44d	1	1.31mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	5d	1	1.32mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	44d	1	1.38mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $99,900 Active 34 DOM
2. 2026-06-17
   days on market $99,900 Active 33 DOM
3. 2026-06-15
   days on market $99,900 Active 31 DOM
4. 2026-06-13
   days on market $99,900 Active 29 DOM
5. 2026-06-13
   days on market $99,900 Active 28 DOM
6. 2026-06-09
   days on market $99,900 Active 25 DOM
7. 2026-06-08
   days on market $99,900 Active 24 DOM
8. 2026-06-07
   days on market $99,900 Active 23 DOM
9. 2026-06-04
   days on market $99,900 Active 20 DOM
10. 2026-06-03
    days on market $99,900 Active 19 DOM
11. 2026-06-02
    days on market $99,900 Active 18 DOM
12. 2026-06-01
    days on market $99,900 Active 17 DOM
13. 2026-05-31
    days on market $99,900 Active 16 DOM
14. 2026-05-15
    listed $99,900 Active 945-char remark

    Show marketing remark (933 chars)

    Excellent investment opportunity at 17344 Salem in Detroit! This well-maintained 3-bedroom, 1.5-bath bungalow is tenant-occupied with a long-term, reliable tenant who has been in the property for over 10 years and is signing a new lease at $1,300 per month, making this a strong turnkey addition to any investor's portfolio. The home features an updated kitchen and full bathroom, plenty of natural light throughout, and a full basement with updated plumbing. Major improvements include a newer roof replaced within the last few years, helping provide peace of mind for future ownership. Outside, you'll find a large backyard along with a detached two-car garage. The property previously appraised for $120,000 just a couple of years ago, adding to the overall value and upside potential. Whether you are a seasoned investor or looking to start your rental portfolio, this income-producing property is a great low maintenance option!

15. 2026-05-15
    listed $99,900 Active 933-char remark

    Show marketing remark (933 chars)

    Excellent investment opportunity at 17344 Salem in Detroit! This well-maintained 3-bedroom, 1.5-bath bungalow is tenant-occupied with a long-term, reliable tenant who has been in the property for over 10 years and is signing a new lease at $1,300 per month, making this a strong turnkey addition to any investor's portfolio. The home features an updated kitchen and full bathroom, plenty of natural light throughout, and a full basement with updated plumbing. Major improvements include a newer roof replaced within the last few years, helping provide peace of mind for future ownership. Outside, you'll find a large backyard along with a detached two-car garage. The property previously appraised for $120,000 just a couple of years ago, adding to the overall value and upside potential. Whether you are a seasoned investor or looking to start your rental portfolio, this income-producing property is a great low maintenance option!

16. 2015-04-30
    soldstatus $10,000 Sold

    Show marketing remark (113 chars)

    3 BEDROOM BUNGALOW STYLE HOME WITH BASEMENT, 2 CAR GARAGE. GREAT LOCATION NEAR MOST AMENITIES. GREAT STATER HOME.

17. 2015-04-30
    soldstatus $10,000

    Show marketing remark (113 chars)

    3 BEDROOM BUNGALOW STYLE HOME WITH BASEMENT, 2 CAR GARAGE. GREAT LOCATION NEAR MOST AMENITIES. GREAT STATER HOME.

18. 2015-04-13
    historical

    Show marketing remark (113 chars)

    3 BEDROOM BUNGALOW STYLE HOME WITH BASEMENT, 2 CAR GARAGE. GREAT LOCATION NEAR MOST AMENITIES. GREAT STATER HOME.

19. 2015-04-13
    historical

    Show marketing remark (113 chars)

    3 BEDROOM BUNGALOW STYLE HOME WITH BASEMENT, 2 CAR GARAGE. GREAT LOCATION NEAR MOST AMENITIES. GREAT STATER HOME.

20. 2015-04-01
    listed $10,000 Active

    Show marketing remark (113 chars)

    3 BEDROOM BUNGALOW STYLE HOME WITH BASEMENT, 2 CAR GARAGE. GREAT LOCATION NEAR MOST AMENITIES. GREAT STATER HOME.

21. 2015-03-31
    listed $10,000
22. 2004-04-23
    soldstatus $119,000
23. 2003-10-04
    historical
24. 2003-04-23
    listed $119,900
25. 2002-07-05
    soldstatus $93,795
26. 2002-01-25
    soldstatus $89,843
27. 2000-11-28
    soldstatus $84,000

ⓘ 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: $1,989 · $166/mo
• Projected year-2 tax: $1,989 · $166/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: $15,345
• − Mortgage interest: −$5,596
• − Property taxes: −$1,989
• − Insurance: −$500
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$2,906
• Taxable income: $1,899
• Est. tax owed @ 24.0%: −$456
• After-tax cash flow: $2,892/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

+18.9% since first listed

14 events — show timeline

• 2026-05-15 Listed $99,900 MiRealSource-MiMLS
• 2026-05-15 Listed $99,900 REALCOMP
• 2015-04-30 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2015-04-30 Sold (MLS) $10,000 REALCOMP
• 2015-04-13 Listing Removed — REALCOMP
• 2015-04-13 Listing Removed — MiRealSource-MiMLS
• 2015-04-01 Listed $10,000 REALCOMP
• 2015-03-31 Listed $10,000 MiRealSource-MiMLS
• 2004-04-23 Sold (Public Records) $119,000 Public Records
• 2003-10-04 Listing Removed — REALCOMP
• 2003-04-23 Listed $119,900 REALCOMP
• 2002-07-05 Sold (Public Records) $93,795 Public Records
• 2002-01-25 Sold (Public Records) $89,843 Public Records
• 2000-11-28 Sold (Public Records) $84,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,989 · +0.6% YoY. Source: county tax records.