16639 Monica St · Detroit, MI 48221

$109,900

4 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 27 Days on market

Built 1926 3,485 sqft lot $108/sqft · at area comps Est $110k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.7/15.0
• 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

CASH, CONVENTIONAL OR LAND CONTRACT TERMS are Available. MUST COME INSIDE TO APPRECIATE THIS 4 BEDROOM COMPLETELY REMODELED BUNGALOW. OWNER IS READY TO SALE! Yes it is Move in Ready, Completely Painted inside & Out with New Flooring throughout, New Kitchen & Bath, LR and Formal Dinning. This one has 2 Nice Size Bedrooms on the main Level and 2 Upstairs with Walkin Closets outside each Bedroom. Also, has Large Open Basement. So get your Bags Packed, it is Ready. Lots of Renovation taking place with Parks & Transportation in Walking distance. Contact City of Detroit for lot purchase next door. Home next door reportedly to be Rehabbed by Horatio Williams Foundation

Key facts

• New bath
• New kitchen
• Walkin closets

Tags

• COMPLETELY REMODELED BUNGALOW
• NEW KITCHEN
• NEW BATH
• LARGE OPEN BASEMENT
• WALKIN CLOSETS
• PARKS IN WALKING DISTANCE

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1926
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot of about 0.08 acres; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eight total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% 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 (+3.4%/yr); 349 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 31% of the median local income ($58k/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 $760 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 + 3.4% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 31y 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 $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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: 1.37% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.62%
• DSCR: 1.87
• GRM: 6.1

CMA / ARV

• ARV (median comp): $110,290
• List price: $109,900
• Delta: -0.35%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16665 Tuller St	0.21mi	3/1.0 (-1)	960 (-6%)	1mo	$25,000	$26	75
16519 Monica St	0.12mi	3/2.0 (-1)	1,000 (-2%)	10mo	$165,000	$165	74
15853 Santa Rosa Dr	0.42mi	4/1.0	1,050 (+3%)	2mo	$140,000	$133	74
16212 Turner St	0.30mi	3/1.0 (-1)	1,080 (+6%)	12mo	$4,500	$4	61
16177 Turner St	0.34mi	4/2.0	1,118 (+10%)	8mo	$55,000	$49	57
15775 Tuller St	0.51mi	4/2.5	1,004 (-2%)	16mo	$50,000	$50	54
16135 Monica St	0.27mi	3/2.0 (-1)	1,139 (+12%)	11mo	$159,900	$140	50
15822 Quincy St	0.53mi	3/1.0 (-1)	1,080 (+6%)	15mo	$30,000	$28	48
15745 Holmur St	0.60mi	3/1.0 (-1)	1,070 (+5%)	13mo	$25,000	$23	48
15863 Belden St	0.58mi	3/1.0 (-1)	1,156 (+13%)	1mo	$18,600	$16	45
16765 Turner St	0.28mi	3/3.0 (-1)	1,173 (+15%)	9mo	$165,000	$141	41
16128 Wisconsin St	0.69mi	3/1.0 (-1)	1,128 (+11%)	8mo	$75,000	$66	39

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: 12.1%
• Equity multiple: 1.48×
• Total profit: $14,889
• Equity at exit: $16,386

10-year hold

• IRR: 21.4%
• Equity multiple: 2.85×
• Total profit: $56,917
• Equity at exit: $9,502

Cash invested: $30,772 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$576
• Tax from tax record: −$64 /mo · $774/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $503

Break-even live

Break-even rent $869

Max offer price $109,900

Occupancy floor 62%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	0.08mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	0.21mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.22mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.27mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	0.29mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.49mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	0.51mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	0.70mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	0.75mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.76mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	0.91mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	0.96mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	1.15mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.19mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	1.26mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.32mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	1.32mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	5d	1	1.35mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.41mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	1.42mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	1.43mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	1.50mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	1.50mi

Listing history 33 events

1. 2026-06-17
   status $109,900 Pending 27 DOM

   Show marketing remark (688 chars)

   CASH, CONVENTIONAL OR LAND CONTRACT TERMS are Available. MUST COME INSIDE TO APPRECIATE THIS 4 BEDROOM COMPLETELY REMODELED BUNGALOW. OWNER IS READY TO SALE! Yes it is Move in Ready, Completely Painted inside & Out with New Flooring throughout, New Kitchen & Bath, LR and Formal Dinning. This one has 2 Nice Size Bedrooms on the main Level and 2 Upstairs with Walkin Closets outside each Bedroom. Also, has Large Open Basement. So get your Bags Packed, it is Ready. Lots of Renovation taking place with Parks & Transportation in Walking distance. Contact City of Detroit for lot purchase next door. Home next door reportedly to be Rehabbed by Horatio Williams Foundation

2. 2026-06-17
   days on market $109,900 Active 27 DOM

   Show marketing remark (688 chars)

   CASH, CONVENTIONAL OR LAND CONTRACT TERMS are Available. MUST COME INSIDE TO APPRECIATE THIS 4 BEDROOM COMPLETELY REMODELED BUNGALOW. OWNER IS READY TO SALE! Yes it is Move in Ready, Completely Painted inside & Out with New Flooring throughout, New Kitchen & Bath, LR and Formal Dinning. This one has 2 Nice Size Bedrooms on the main Level and 2 Upstairs with Walkin Closets outside each Bedroom. Also, has Large Open Basement. So get your Bags Packed, it is Ready. Lots of Renovation taking place with Parks & Transportation in Walking distance. Contact City of Detroit for lot purchase next door. Home next door reportedly to be Rehabbed by Horatio Williams Foundation

3. 2026-06-15
   days on market $109,900 Active 25 DOM
4. 2026-06-13
   days on market $109,900 Active 23 DOM
5. 2026-06-13
   days on market $109,900 Active 22 DOM
6. 2026-06-09
   days on market $109,900 Active 19 DOM
7. 2026-06-08
   days on market $109,900 Active 18 DOM
8. 2026-06-07
   days on market $109,900 Active 17 DOM
9. 2026-06-04
   days on market $109,900 Active 14 DOM
10. 2026-06-03
    days on market $109,900 Active 13 DOM
11. 2026-06-02
    days on market $109,900 Active 12 DOM
12. 2026-06-01
    days on market $109,900 Active 11 DOM
13. 2026-05-31
    days on market $109,900 Active 10 DOM
14. 2026-04-23
    price $109,900 824-char remark
15. 2026-04-23
    price $109,900 825-char remark
16. 2026-04-23
    price $109,900
17. 2026-03-23
    listed $119,900 Active 825-char remark
18. 2026-03-23
    listed $119,900 Active 824-char remark
19. 2026-03-23
    listed $119,900 Active
20. 2026-03-22
    historical $119,900 824-char remark
21. 2026-03-22
    historical $119,900
22. 2006-03-31
    soldstatus $12,500
23. 2005-11-30
    listed $12,900
24. 2005-11-21
    historical
25. 2005-05-24
    listed $50,000
26. 2004-02-18
    historical
27. 2003-08-18
    listed $70,000
28. 2000-08-31
    historical
29. 2000-02-29
    listed $35,000
30. 2000-02-06
    historical
31. 1999-10-06
    listed $30,000
32. 1996-06-28
    historical
33. 1995-12-28
    listed $10,000

ⓘ 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: $774 · $64/mo
• Projected year-2 tax: $1,233 · $103/mo
• Expected delta: +$459/yr (+$38/mo · 59.4%)

ⓘ 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: $18,073
• − Mortgage interest: −$6,156
• − Property taxes: −$774
• − Insurance: −$550
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$3,197
• Taxable income: $4,505
• Est. tax owed @ 24.0%: −$1,081
• After-tax cash flow: $4,957/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

+979.0% since first listed

29 events — show timeline

• 2026-06-18 Sold (MLS) $107,900 MiRealSource-MiMLS
• 2026-06-18 Sold (MLS) $107,900 REALCOMP
• 2026-06-18 Sold (MLS) $107,900 SW Michigan MLS
• 2026-06-17 Pending — MiRealSource-MiMLS
• 2026-06-17 Pending — REALCOMP
• 2026-06-17 Pending — SW Michigan MLS
• 2026-05-21 Listing Removed — MiRealSource-MiMLS
• 2026-05-21 Listed $109,900 MiRealSource-MiMLS
• 2026-05-21 Listed $109,900 REALCOMP
• 2026-05-21 Listed $109,900 SW Michigan MLS
• 2026-05-20 Listing Removed — REALCOMP
• 2026-04-23 Price Changed $109,900 MiRealSource-MiMLS
• 2026-04-23 Price Changed $109,900 REALCOMP
• 2026-04-23 Price Changed $109,900 SW Michigan MLS
• 2026-03-23 Listed $119,900 REALCOMP
• 2026-03-23 Listed $119,900 MiRealSource-MiMLS
• 2026-03-22 Coming Soon — MiRealSource-MiMLS
• 2006-03-31 Sold (MLS) $12,500 REALCOMP
• 2005-11-30 Listed $12,900 REALCOMP
• 2005-11-21 Listing Removed — REALCOMP
• 2005-05-24 Listed $50,000 REALCOMP
• 2004-02-18 Listing Removed — REALCOMP
• 2003-08-18 Listed $70,000 REALCOMP
• 2000-08-31 Listing Removed — REALCOMP
• 2000-02-29 Listed $35,000 REALCOMP
• 2000-02-06 Listing Removed — REALCOMP
• 1999-10-06 Listed $30,000 REALCOMP
• 1996-06-28 Listing Removed — REALCOMP
• 1995-12-28 Listed $10,000 REALCOMP

Property tax history

+9.5%/yr

Latest (2025): $774 · -36.2% YoY. Source: county tax records.