17403 Quincy St · Detroit, MI 48221

$125,000

3 bd · 2.0 ba · 1,419 sqft · Manufactured public records · 12 Days on market

Built 1936 6,098 sqft lot $88/sqft · at area comps Est $152k · 18% under ↓ 6% since listing

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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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +6.5/10.0
• 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 University District! Get into the most sought after anchor neighborhood in Detroit for under 200k! This 2 family home has been an investment property for the past 46 years and has come to market for the first time this century! Don't miss your chance to own this piece of Detroit history located just across the street from what was the first Monastery in Detroit and is still an active church that is still active and invested in the community. First unit on the entry level is 2 bedrooms and 1 bathroom with a large sitting room, formal dining room, and kitchen. Second unit on the upper level has 1 bedroom and 1 bathroom with a large sitting room and added storage in the attic space. Full basement is common with 2 furnaces, hot water tanks, and separate electric and gas meters. Needs some concrete work and some grading, active water in basement due to poor downspout and grade management. Wallside windows, built-ins, 15 years on the roof. Subject to tenants rights. All showings for this property will be held on Fridays, 1-3 pm, no lockbox; please do not disturb tenants. * * * Please note that one year leases are in place charging $1000 for the entry level unit and $750 for the upper level unit. * * *

Key facts

• Added storage
• Large sitting room
• Investment property

Tags

• INVESTMENT PROPERTY
• LARGE SITTING ROOM
• ADDED STORAGE
• COMMON BASEMENT
• WALLSIDE WINDOWS
• BUILT-INS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

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); 48% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $35k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1936 — 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: 1.15% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• GRM: 7.2

CMA / ARV

• ARV (median comp): $152,277
• List price: $125,000
• Delta: -1.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $4,357
• Equity at exit: $18,638

10-year hold

• IRR: 13.1%
• Equity multiple: 2.06×
• Total profit: $37,208
• Equity at exit: $10,808

Cash invested: $35,000 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$656
• Tax from tax record: −$56 /mo · $670/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $377

Break-even live

Break-even rent $966

Max offer price $125,000

Occupancy floor 69%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	43d	1	0.16mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	43d	1	0.22mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	24d	1	0.22mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	43d	1	0.23mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.31mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	0.35mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	43d	1	0.39mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	24d	1	0.44mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	0.54mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	43d	1	0.56mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	0.60mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	24d	1	0.68mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	43d	1	0.70mi
19031 Livernois Unit F Detroit, MI	2.0	2.0	1100	$2,135	$1.94	43d	1	0.71mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	0.75mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	20d	1	0.78mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	24d	1	0.78mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.79mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	16d	1	0.85mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.85mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	43d	1	0.85mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	16d	1	0.91mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	1.01mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	1.05mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	43d	1	1.05mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	43d	1	1.06mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	1.07mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	43d	1	1.10mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	43d	1	1.11mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	43d	1	1.11mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	43d	1	1.11mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	1.15mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	43d	1	1.15mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	5d	1	1.20mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	43d	1	1.21mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	1.21mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	43d	1	1.22mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	1.23mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	43d	1	1.26mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	1.29mi

Listing history 16 events

1. 2026-06-15
   status $125,000 Pending 12 DOM
2. 2026-06-15
   days on market $125,000 Active 12 DOM
3. 2026-06-13
   days on market $125,000 Active 10 DOM
4. 2026-06-13
   days on market $125,000 Active 9 DOM
5. 2026-06-09
   days on market $125,000 Active 6 DOM
6. 2026-06-08
   days on market $125,000 Active 5 DOM
7. 2026-06-07
   days on market $125,000 Active 4 DOM
8. 2026-06-04
   pricedays on marketlisting id $125,000 Active 1 DOM
9. 2026-06-03
   days on market $150,000 Active 175 DOM
10. 2026-06-01
    days on market $150,000 Active 173 DOM
11. 2026-05-31
    days on market $150,000 Active 172 DOM
12. 2026-03-24
    price $150,000 1229-char remark

    Show marketing remark (1231 chars)

    Welcome to University District! Get into the most sought after anchor neighborhood in Detroit for under 200k! This 2 family home has been an investment property for the past 46 years and has come to market for the first time this century! Don't miss your chance to own this piece of Detroit history located just across the street from what was the first Monastery in Detroit and is still an active church that is still active and invested in the community. First unit on the entry level is 2 bedrooms and 1 bathroom with a large sitting room, formal dining room, and kitchen. Second unit on the upper level has 1 bedroom and 1 bathroom with a large sitting room and added storage in the attic space. Full basement is common with 2 furnaces, hot water tanks, and separate electric and gas meters. Needs some concrete work and some grading, active water in basement due to poor downspout and grade management. Wallside windows, built-ins, 15 years on the roof. Subject to tenants rights. All showings for this property will be held on Fridays, 1-3 pm, no lockbox; please do not disturb tenants. * * * Please note that one year leases are in place charging $1000 for the entry level unit and $750 for the upper level unit. * * *

13. 2026-03-24
    price $150,000 1231-char remark

    Show marketing remark (1231 chars)

    Welcome to University District! Get into the most sought after anchor neighborhood in Detroit for under 200k! This 2 family home has been an investment property for the past 46 years and has come to market for the first time this century! Don't miss your chance to own this piece of Detroit history located just across the street from what was the first Monastery in Detroit and is still an active church that is still active and invested in the community. First unit on the entry level is 2 bedrooms and 1 bathroom with a large sitting room, formal dining room, and kitchen. Second unit on the upper level has 1 bedroom and 1 bathroom with a large sitting room and added storage in the attic space. Full basement is common with 2 furnaces, hot water tanks, and separate electric and gas meters. Needs some concrete work and some grading, active water in basement due to poor downspout and grade management. Wallside windows, built-ins, 15 years on the roof. Subject to tenants rights. All showings for this property will be held on Fridays, 1-3 pm, no lockbox; please do not disturb tenants. * * * Please note that one year leases are in place charging $1000 for the entry level unit and $750 for the upper level unit. * * *

14. 2025-12-11
    listed $160,000 Active 1229-char remark

    Show marketing remark (1231 chars)

    Welcome to University District! Get into the most sought after anchor neighborhood in Detroit for under 200k! This 2 family home has been an investment property for the past 46 years and has come to market for the first time this century! Don't miss your chance to own this piece of Detroit history located just across the street from what was the first Monastery in Detroit and is still an active church that is still active and invested in the community. First unit on the entry level is 2 bedrooms and 1 bathroom with a large sitting room, formal dining room, and kitchen. Second unit on the upper level has 1 bedroom and 1 bathroom with a large sitting room and added storage in the attic space. Full basement is common with 2 furnaces, hot water tanks, and separate electric and gas meters. Needs some concrete work and some grading, active water in basement due to poor downspout and grade management. Wallside windows, built-ins, 15 years on the roof. Subject to tenants rights. All showings for this property will be held on Fridays, 1-3 pm, no lockbox; please do not disturb tenants. * * * Please note that one year leases are in place charging $1000 for the entry level unit and $750 for the upper level unit. * * *

15. 2025-12-11
    listed $160,000 Active 1231-char remark

    Show marketing remark (1231 chars)

    Welcome to University District! Get into the most sought after anchor neighborhood in Detroit for under 200k! This 2 family home has been an investment property for the past 46 years and has come to market for the first time this century! Don't miss your chance to own this piece of Detroit history located just across the street from what was the first Monastery in Detroit and is still an active church that is still active and invested in the community. First unit on the entry level is 2 bedrooms and 1 bathroom with a large sitting room, formal dining room, and kitchen. Second unit on the upper level has 1 bedroom and 1 bathroom with a large sitting room and added storage in the attic space. Full basement is common with 2 furnaces, hot water tanks, and separate electric and gas meters. Needs some concrete work and some grading, active water in basement due to poor downspout and grade management. Wallside windows, built-ins, 15 years on the roof. Subject to tenants rights. All showings for this property will be held on Fridays, 1-3 pm, no lockbox; please do not disturb tenants. * * * Please note that one year leases are in place charging $1000 for the entry level unit and $750 for the upper level unit. * * *

16. 2025-12-08
    historical $160,000 1229-char remark

    Show marketing remark (1229 chars)

    Welcome to University District! Get into the most sought after anchor neighborhood in Detroit for under 200k! This 2 family home has been an investment property for the past 46 years and has come to market for the first time this century! Don't miss your chance to own this piece of Detroit history located just across the street from what was the first Monastery in Detroit and is still an active church that is still active and invested in the community. First unit on the entry level is 2 bedrooms and 1 bathroom with a large sitting room, formal dining room, and kitchen. Second unit on the upper level has 1 bedroom and 1 bathroom with a large sitting room and added storage in the attic space. Full basement is common with 2 furnaces, hot water tanks, and separate electric and gas meters. Needs some concrete work and some grading, active water in basement due to poor downspout and grade management. Wallside windows, built-ins, 15 years on the roof. Subject to tenants rights. All showings for this property will be held on Fridays, 1-3 pm, no lockbox; please do not disturb tenants. * * * Please note that one year leases are in place charging $1000 for the entry level unit and $750 for the upper level unit. * * *

ⓘ 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: $670 · $56/mo
• Projected year-2 tax: $1,298 · $108/mo
• Expected delta: +$627/yr (+$52/mo · 93.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $17,323
• − Mortgage interest: −$7,002
• − Property taxes: −$670
• − Insurance: −$625
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$3,636
• Taxable income: $2,618
• Est. tax owed @ 24.0%: −$628
• After-tax cash flow: $3,896/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

-6.2% since first listed

5 events — show timeline

• 2026-03-24 Price Changed $150,000 MiRealSource-MiMLS
• 2026-03-24 Price Changed $150,000 REALCOMP
• 2025-12-11 Listed $160,000 MiRealSource-MiMLS
• 2025-12-11 Listed $160,000 REALCOMP
• 2025-12-08 Coming Soon $160,000 MiRealSource-MiMLS

Property tax history

-3.6%/yr

Latest (2019): $670 · +3.0% YoY. Source: county tax records.