18676 Syracuse St · Detroit, MI 48234

$84,900

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 76 Days on market

Built 1960 3,920 sqft lot $93/sqft · 185% above area

---

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 +9.7/10.0
• 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 MLS

Why pay rent? This single-family residence offers three comfortable bedrooms, providing personal sanctuaries, and one and a half bathrooms, a partially finished basement, ensuring convenience for occupants. A welcoming porch extends an invitation to enjoy the outdoors, adding to the charm of this 1960-built dwelling. This inviting single-family residence offers a truly comfortable and appealing setting for creating cherished memories. This home also comes with an oversized two-car detached garage that is great for storage.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 42% 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 $587 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 + 6.7% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $79,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.47% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.02%
• DSCR: 2.02
• GRM: 5.7

CMA / ARV

• ARV (median comp): $42,844
• List price: $84,900
• Delta: 98.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18485 Moenart St	0.27mi	3/1.0	834 (-9%)	4mo	$58,500	$70	70
19437 Conley St	0.61mi	3/1.0	912 (0%)	4mo	$28,500	$31	68
19451 Conley St	0.62mi	3/1.0	900 (-1%)	3mo	$54,000	$60	67
18830 Hasse St	0.54mi	3/1.0	898 (-2%)	7mo	$36,500	$41	66
19351 Dwyer St	0.43mi	3/1.0	971 (+6%)	6mo	$120,000	$124	64
19162 Conley St	0.42mi	2/1.0 (-1)	954 (+5%)	7mo	$47,500	$50	62
18818 Sherwood St	0.62mi	3/1.0	940 (+3%)	6mo	$38,000	$40	61
19400 Dwyer St	0.48mi	3/1.5	960 (+5%)	8mo	$50,000	$52	60
19235 Lamont St	0.57mi	2/1.0 (-1)	960 (+5%)	1mo	$40,000	$42	59
19608 Buffalo St	0.54mi	3/1.0	1,014 (+11%)	1mo	$68,000	$67	55
18710 Hasse St	0.53mi	3/1.0	988 (+8%)	9mo	$45,000	$46	54
18824 Helen St	0.74mi	3/1.0	844 (-8%)	5mo	$34,000	$40	49

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: 19.9%
• Equity multiple: 1.85×
• Total profit: $20,104
• Equity at exit: $12,659

10-year hold

• IRR: 30.5%
• Equity multiple: 4.21×
• Total profit: $76,255
• Equity at exit: $7,341

Cash invested: $23,772 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,245 high
• Mortgage (P&I): −$445
• Tax from tax record: −$47 /mo · $566/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $456

Break-even live

Break-even rent $668

Max offer price $84,900

Occupancy floor 58%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	0.20mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	0.20mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	0.26mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.36mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.40mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	23d	1	0.47mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	0.49mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.63mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	17d	1	0.74mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.92mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.98mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.00mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.07mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	1.17mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.18mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.20mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	1.31mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	1.36mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.37mi

Listing history 15 events

1. 2026-06-18
   days on market $84,900 Active 76 DOM
2. 2026-06-17
   days on market $84,900 Active 75 DOM
3. 2026-06-15
   days on market $84,900 Active 73 DOM
4. 2026-06-13
   days on market $84,900 Active 71 DOM
5. 2026-06-13
   days on market $84,900 Active 70 DOM
6. 2026-06-09
   days on market $84,900 Active 67 DOM
7. 2026-06-08
   days on market $84,900 Active 66 DOM
8. 2026-06-07
   days on market $84,900 Active 65 DOM
9. 2026-06-04
   days on market $84,900 Active 62 DOM
10. 2026-06-03
    days on market $84,900 Active 61 DOM
11. 2026-06-02
    days on market $84,900 Active 60 DOM
12. 2026-06-01
    days on market $84,900 Active 59 DOM
13. 2026-05-31
    days on market $84,900 Active 58 DOM
14. 2026-04-03
    listed $92,500 Active 529-char remark

    Show marketing remark (528 chars)

    Why pay rent? This single-family residence offers three comfortable bedrooms, providing personal sanctuaries, and one and a half bathrooms, a partially finished basement, ensuring convenience for occupants. A welcoming porch extends an invitation to enjoy the outdoors, adding to the charm of this 1960-built dwelling. This inviting single-family residence offers a truly comfortable and appealing setting for creating cherished memories. This home also comes with an oversized two-car detached garage that is great for storage.

15. 2026-04-03
    listed $92,500 Active 528-char remark

    Show marketing remark (528 chars)

    Why pay rent? This single-family residence offers three comfortable bedrooms, providing personal sanctuaries, and one and a half bathrooms, a partially finished basement, ensuring convenience for occupants. A welcoming porch extends an invitation to enjoy the outdoors, adding to the charm of this 1960-built dwelling. This inviting single-family residence offers a truly comfortable and appealing setting for creating cherished memories. This home also comes with an oversized two-car detached garage that is great for storage.

ⓘ 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: $566 · $47/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$371/yr (+$31/mo · 65.5%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,944
• − Mortgage interest: −$4,756
• − Property taxes: −$566
• − Insurance: −$424
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$2,470
• Taxable income: $4,336
• Est. tax owed @ 24.0%: −$1,041
• After-tax cash flow: $4,431/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

+0.0% since first listed

2 events — show timeline

• 2026-04-03 Listed $92,500 MiRealSource-MiMLS
• 2026-04-03 Listed $92,500 REALCOMP

Property tax history

-4.9%/yr

Latest (2025): $566 · -39.0% YoY. Source: county tax records.