19195 Greeley St · Detroit, MI 48203

$42,500

2 bd · 1.0 ba · 838 sqft · SingleFamily public records · 15 Days on market

Built 1924 3,049 sqft lot $51/sqft · 9% below area Est $46k · 9% 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 +30.0/30.0
• ARV discount +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK OWNED MIN EMD $750 TO BE HELD BY LIST OFFICE IN CERTIFIED FUNDS. PROOF OF FUNDS OR PRE APPROVAL LETTER REQUIRED FOR ALL OFFERS. BUYER RESPONSIBLE FOR ALL CITY CERT AND INSPECTIONS, INCLUDING BUT NOT LIMITED TO ACR, WELL, SEPTIC AND CERT OF OCCUPANCY. DIMENSIONS ARE APPROXIMATE. BATVAI.

Key facts

• 3,049 sq ft lot
• Built 1924
• Listed 14 days

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and a half stories; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.07 acres (30 x 100)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 6 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.6% 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: 216 active listings in the ZIP; 25 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 38% of the median local income ($38k/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 $294 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $2k; list at $42k implies a 1600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $41,862 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.89% ✓
• Cap rate: 23.61%
• Cash-on-cash: 61.84%
• DSCR: 3.75
• GRM: 2.9

CMA / ARV

• ARV (median comp): $46,490
• List price: $42,500
• Delta: -8.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18877 Fleming St	0.47mi	2/1.0	870 (+4%)	3mo	$9,900	$11	70
19210 Cameron St	0.28mi	2/1.0	750 (-10%)	5mo	$52,500	$70	66
18042 Russell St	0.58mi	3/1.0 (+1)	851 (+2%)	9mo	$45,000	$53	58
19164 Dequindre St	0.28mi	3/1.5 (+1)	918 (+10%)	8mo	$80,000	$87	58
18882 Marx St	0.28mi	2/1.0	945 (+13%)	13mo	$28,000	$30	55
19235 Fleming St	0.44mi	2/1.0	720 (-14%)	6mo	$57,000	$79	52
19308 Lumpkin St	0.42mi	3/1.0 (+1)	747 (-11%)	10mo	$38,000	$51	49
18128 Fleming St	0.65mi	2/1.0	950 (+13%)	1mo	$21,500	$23	47
709 E Margaret St	0.65mi	3/1.5 (+1)	913 (+9%)	6mo	$15,000	$16	42
17888 Marx St	0.67mi	3/1.0 (+1)	937 (+12%)	2mo	$34,000	$36	42
20401 Greeley St	0.75mi	3/1.0 (+1)	928 (+11%)	1mo	$55,000	$59	41
18908 Mackay St	0.59mi	2/1.0	724 (-14%)	11mo	$32,624	$45	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.8%
• Equity multiple: 3.71×
• Total profit: $32,227
• Equity at exit: $6,337

10-year hold

• IRR: 65.4%
• Equity multiple: 7.60×
• Total profit: $78,590
• Equity at exit: $3,675

Cash invested: $11,900 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,230 high
• Mortgage (P&I): −$223
• Tax from tax record: −$118 /mo · $1,416/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $613

Break-even live

Break-even rent $454

Max offer price $42,500

Occupancy floor 45%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.27mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	0.47mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.51mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	0.71mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.73mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.83mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.97mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.02mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.03mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	1.04mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	1.04mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.08mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.10mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	1d	1	1.13mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	1.21mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	1.26mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	1.30mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.31mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	1d	1	1.33mi
27 E Milton Ave Hazel Park, MI	1.0	1.0	568	$1,050	$1.85	15d	1	1.35mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	24d	1	1.35mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	1.35mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	1.35mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	1.42mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	43d	1	1.44mi

Listing history 10 events

1. 2026-05-11
   listed $42,500 Active 149-char remark
2. 2026-05-11
   listed $42,500 Active 149-char remark
3. 2010-06-23
   soldstatus $2,500

   Show marketing remark (291 chars)

   BANK OWNED MIN EMD $750 TO BE HELD BY LIST OFFICE IN CERTIFIED FUNDS. PROOF OF FUNDS OR PRE APPROVAL LETTER REQUIRED FOR ALL OFFERS. BUYER RESPONSIBLE FOR ALL CITY CERT AND INSPECTIONS, INCLUDING BUT NOT LIMITED TO ACR, WELL, SEPTIC AND CERT OF OCCUPANCY. DIMENSIONS ARE APPROXIMATE. BATVAI.

4. 2010-03-26
   listed $2,500

   Show marketing remark (291 chars)

   BANK OWNED MIN EMD $750 TO BE HELD BY LIST OFFICE IN CERTIFIED FUNDS. PROOF OF FUNDS OR PRE APPROVAL LETTER REQUIRED FOR ALL OFFERS. BUYER RESPONSIBLE FOR ALL CITY CERT AND INSPECTIONS, INCLUDING BUT NOT LIMITED TO ACR, WELL, SEPTIC AND CERT OF OCCUPANCY. DIMENSIONS ARE APPROXIMATE. BATVAI.

5. 2010-03-04
   historical
6. 2009-12-18
   historical
7. 2009-12-17
   listed $4,900
8. 2009-04-22
   listed $2,400
9. 2007-11-20
   soldstatus $67,000
10. 2006-11-02
    soldstatus $30,000

ⓘ 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: $1,416 · $118/mo
• Projected year-2 tax: $1,416 · $118/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 2/10 Low 7 d/yr ≥97°F today · 14 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: $14,761
• − Mortgage interest: −$2,381
• − Property taxes: −$1,416
• − Insurance: −$212
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$1,236
• Taxable income: $7,154
• Est. tax owed @ 24.0%: −$1,717
• After-tax cash flow: $5,641/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
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

+41.7% since first listed

11 events — show timeline

• 2026-05-26 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Listed $42,500 REALCOMP
• 2026-05-11 Listed $42,500 MiRealSource-MiMLS
• 2010-06-23 Sold (MLS) $2,500 REALCOMP
• 2010-03-26 Listed $2,500 REALCOMP
• 2010-03-04 Listing Removed — REALCOMP
• 2009-12-18 Listing Removed — REALCOMP
• 2009-12-17 Listed $4,900 REALCOMP
• 2009-04-22 Listed $2,400 REALCOMP
• 2007-11-20 Sold (Public Records) $67,000 Public Records
• 2006-11-02 Sold (Public Records) $30,000 Public Records

Property tax history

+15.2%/yr

Latest (2025): $1,416 · +1.5% YoY. Source: county tax records.