19010 Charest St · Detroit, MI 48234

$75,000

3 bd · 1.0 ba · 974 sqft · SingleFamily public records · 23 Days on market

Built 1946

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This property is Tenant Occupied and we hope the next owner would keep the tenant as it has been a very good tenant since we have rented to them. Its really a good property and the lot next to it is being sold with it.

Key facts

• Built 1946
• Listed 23 days

Property features AI

Exterior

• Home design: Built in 1946
• Construction: Living area approximately 974
• Exterior features: Located in the Conant Gardens subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 45% of the median local income ($35k/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 $519 of loan paydown is wiped out by about $2k 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 + 6.7% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 15 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.
• Current owner paid $5k; list at $75k implies a 1342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — 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: 1.75% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.32%
• DSCR: 2.35
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $43,830
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19619 Norwood St	0.44mi	3/1.0	941 (-3%)	2mo	$30,500	$32	72
19227 Ryan Rd	0.41mi	3/1.0	919 (-6%)	1mo	$38,000	$41	70
19360 Revere St	0.33mi	3/1.0	1,050 (+8%)	2mo	$78,000	$74	70
18660 Klinger St	0.16mi	4/2.0 (+1)	880 (-10%)	0mo	$21,000	$24	67
19662 Charest St	0.46mi	3/1.0	1,041 (+7%)	2mo	$69,000	$66	65
18128 Fleming St	0.53mi	2/1.0 (-1)	950 (-2%)	1mo	$21,500	$23	65
19155 Ryan Rd	0.39mi	3/1.0	1,068 (+10%)	2mo	$45,000	$42	64
17833 Binder St	0.64mi	3/1.0	1,000 (+3%)	4mo	$46,000	$46	62
19392 Justine St	0.69mi	3/1.0	1,000 (+3%)	3mo	$45,000	$45	60
17955 Charest St	0.46mi	3/1.0	880 (-10%)	4mo	$51,800	$59	59
19365 Goddard St	0.49mi	3/1.0	1,100 (+13%)	0mo	$97,500	$89	55
18877 Fleming St	0.46mi	2/1.0 (-1)	870 (-11%)	3mo	$9,900	$11	54

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.27×
• Total profit: $26,748
• Equity at exit: $11,183

10-year hold

• IRR: 38.5%
• Equity multiple: 5.26×
• Total profit: $89,412
• Equity at exit: $6,485

Cash invested: $21,000 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$393
• Tax from tax record: −$80 /mo · $966/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $531

Break-even live

Break-even rent $639

Max offer price $75,000

Occupancy floor 55%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.14mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.35mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.45mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.45mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	0.49mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.50mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.54mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	0.59mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.65mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.71mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	0.90mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.96mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.97mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	1.05mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	1.10mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	1.13mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	1.13mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.16mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	43d	1	1.16mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.29mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.35mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	1.48mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	1.50mi

Listing history 45 events

1. 2026-06-18
   days on market $75,000 Active 23 DOM
2. 2026-06-17
   days on market $75,000 Active 22 DOM
3. 2026-06-15
   days on market $75,000 Active 20 DOM
4. 2026-06-13
   days on market $75,000 Active 18 DOM
5. 2026-06-13
   days on market $75,000 Active 17 DOM
6. 2026-06-09
   days on market $75,000 Active 14 DOM
7. 2026-06-08
   days on market $75,000 Active 13 DOM
8. 2026-06-07
   days on market $75,000 Active 12 DOM
9. 2026-06-04
   days on market $75,000 Active 9 DOM
10. 2026-06-03
    days on market $75,000 Active 8 DOM
11. 2026-06-01
    days on market $75,000 Active 6 DOM
12. 2026-05-31
    days on market $75,000 Active 5 DOM
13. 2026-05-26
    listed $75,000 Active
14. 2017-01-05
    historical
15. 2017-01-05
    historical
16. 2016-02-19
    historical
17. 2016-02-19
    listed $7,500
18. 2016-02-19
    listed $7,500
19. 2016-02-19
    historical
20. 2015-11-25
    price $9,899
21. 2015-10-12
    listed $9,900 Active
22. 2015-10-12
    listed $9,899
23. 2011-04-05
    soldstatus $5,200
24. 2011-04-05
    soldstatus $5,200
25. 2011-03-03
    historical
26. 2011-02-26
    listed $5,200
27. 2011-02-25
    listed $7,700
28. 2011-02-19
    historical
29. 2011-02-18
    historical
30. 2011-01-22
    listed $7,700
31. 2011-01-22
    listed $7,700
32. 2010-09-02
    historical
33. 2010-09-02
    historical
34. 2010-07-30
    listed $7,700
35. 2010-07-30
    listed $7,700
36. 2010-07-19
    soldstatus $8,100
37. 2010-07-19
    soldstatus $8,100
38. 2010-07-01
    historical
39. 2010-06-10
    listed $7,700
40. 2010-06-10
    listed $7,700
41. 2007-10-23
    soldstatus $8,000
42. 2007-02-22
    listed $8,900
43. 2006-08-17
    historical
44. 2006-05-17
    listed $75,000
45. 2002-11-15
    soldstatus $11,215

ⓘ 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: $966 · $80/mo
• Projected year-2 tax: $1,060 · $88/mo
• Expected delta: +$95/yr (+$8/mo · 9.8%)

ⓘ 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: $15,732
• − Mortgage interest: −$4,201
• − Property taxes: −$966
• − Insurance: −$375
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$2,182
• Taxable income: $5,491
• Est. tax owed @ 24.0%: −$1,318
• After-tax cash flow: $5,050/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+568.7% since first listed

33 events — show timeline

• 2026-05-26 Listed $75,000 FSBO.com
• 2017-01-05 Listing Removed — MiRealSource-MiMLS
• 2017-01-05 Listing Removed — REALCOMP
• 2016-02-19 Listing Removed — REALCOMP
• 2016-02-19 Listing Removed — MiRealSource-MiMLS
• 2016-02-19 Listed $7,500 MiRealSource-MiMLS
• 2016-02-19 Listed $7,500 REALCOMP
• 2015-11-25 Price Changed $9,899 REALCOMP
• 2015-10-12 Listed $9,900 REALCOMP
• 2015-10-12 Listed $9,899 MiRealSource-MiMLS
• 2011-04-05 Sold (MLS) $5,200 REALCOMP
• 2011-04-05 Sold (MLS) $5,200 MiRealSource-MiMLS
• 2011-03-03 Listing Removed — MiRealSource-MiMLS
• 2011-02-26 Listed $5,200 MiRealSource-MiMLS
• 2011-02-25 Listed $7,700 REALCOMP
• 2011-02-19 Listing Removed — MiRealSource-MiMLS
• 2011-02-18 Listing Removed — REALCOMP
• 2011-01-22 Listed $7,700 REALCOMP
• 2011-01-22 Listed $7,700 MiRealSource-MiMLS
• 2010-09-02 Listing Removed — MiRealSource-MiMLS
• 2010-09-02 Listing Removed — REALCOMP
• 2010-07-30 Listed $7,700 MiRealSource-MiMLS
• 2010-07-30 Listed $7,700 REALCOMP
• 2010-07-19 Sold (MLS) $8,100 MiRealSource-MiMLS
• 2010-07-19 Sold (MLS) $8,100 REALCOMP
• 2010-07-01 Listing Removed — MiRealSource-MiMLS
• 2010-06-10 Listed $7,700 MiRealSource-MiMLS
• 2010-06-10 Listed $7,700 REALCOMP
• 2007-10-23 Sold (MLS) $8,000 REALCOMP
• 2007-02-22 Listed $8,900 REALCOMP
• 2006-08-17 Listing Removed — REALCOMP
• 2006-05-17 Listed $75,000 REALCOMP
• 2002-11-15 Sold (Public Records) $11,215 Public Records

Property tax history

-0.6%/yr

Latest (2025): $966 · -45.5% YoY. Source: county tax records.