18426 Winthrop St · Detroit, MI 48235

$125,000

3 bd · 1.0 ba · 998 sqft · SingleFamily public records · 2 Days on market

Built 1947 0.34 ac lot

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Why this score? — see what drove the C 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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming and well maintained, this 3-bedroom, 2-bathroom bungalow offers a perfect blend of preserved character and incredible room to grow. Step inside to discover a solid, inviting layout featuring original architectural details and hidden hardwood floors some waiting to be uncovered beneath the carpet. A bonus flex space off one of the main-floor bedrooms could serve as the ideal dedicated home office. The kitchen comes fully equipped with all appliances included, opening up to a clean canvas ready for your personal design touches. The living space extends down into a partially finished basement complete with a wet bar and a second full bath, making year-round entertaining a breeze. Outs

Key facts

• Wet bar
• Bonus flex space
• 0.34 acre lot

Tags

• ORIGINAL ARCHITECTURAL DETAILS
• HIDDEN HARDWOOD FLOORS
• BONUS FLEX SPACE
• FULLY EQUIPPED KITCHEN
• PARTIALLY FINISHED BASEMENT
• WET BAR

Property features AI

Exterior

• Parking: Detached 2-car garage (20 x 22) with garage door opener
• Utilities: Public water; Public sewer (implied); Electric service (implied)
• Home design: Residential property; 1 1/2-story structure; Built in 1947; Located on the east side of Winthrop in the Laurelhurst subdivision, Detroit
• Construction: Vinyl siding exterior; Basement foundation; Basement area partially finished (about 500 finished below-grade area)
• Exterior features: Fenced yard; Porch; Paved street access

Interior

• Kitchen: Kitchen on entry level (11 x 8) with laminate flooring; Includes range/oven and refrigerator
• Bedrooms: Primary bedroom on second level (23 x 12) with carpet; Second bedroom on entry level (11 x 11) with carpet; Third bedroom on entry level (approx. 10' wide) with carpet
• Flooring: Carpet in bedrooms; Wood flooring in living room; Laminate in dining room and kitchen; Ceramic in main bathroom; Vinyl in basement bathroom; Concrete in laundry room
• Bathrooms: Two full bathrooms; Main-level bathroom with ceramic flooring (approx. 8 x 7); Basement bathroom with vinyl flooring (approx. 6 x 6)
• Heating & cooling: Forced air heating; Central A/C; Natural gas heating fuel; Gas water heater
• Interior features: 11 total rooms; Partially finished basement; Basement laundry room (13 x 10)
• Laundry & utility: Washer and dryer included; Laundry in basement on concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/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 (+3.2%/yr); 283 active listings in the ZIP; 28 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 ($39k/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 $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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1947 — 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: 1.09% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $76,846
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18435 Robson St	0.36mi	3/1.0	925 (-7%)	0mo	$86,000	$93	71
19165 Rutherford St	0.47mi	3/1.0	1,013 (+2%)	6mo	$43,500	$43	71
17355 Saint Marys St	0.58mi	3/1.0	1,000 (+0%)	5mo	$55,000	$55	69
19152 Whitcomb St	0.45mi	2/1.5 (-1)	1,012 (+1%)	1mo	$110,000	$109	68
19348 Montrose St	0.55mi	3/1.5	990 (-1%)	5mo	$145,900	$147	67
19215 Winthrop St	0.46mi	3/1.5	1,030 (+3%)	6mo	$137,000	$133	66
17552 Ferguson St	0.59mi	3/1.0	957 (-4%)	5mo	$43,000	$45	62
18239 Saint Marys St	0.36mi	3/1.0	1,136 (+14%)	1mo	$124,900	$110	59
18990 Prevost St	0.34mi	3/1.0	1,124 (+13%)	6mo	$71,300	$63	58
18937 Lindsay St	0.72mi	3/1.0	951 (-5%)	2mo	$59,000	$62	57
17540 Asbury Park St	0.55mi	3/1.0	1,100 (+10%)	4mo	$57,500	$52	54
19160 Gilchrist St	0.72mi	3/1.0	1,100 (+10%)	5mo	$85,000	$77	45

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,277
• Equity at exit: $18,638

10-year hold

• IRR: 8.9%
• Equity multiple: 1.69×
• Total profit: $24,223
• 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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,364 high
• Mortgage (P&I): −$656
• Tax from tax record: −$77 /mo · $925/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $293

Break-even live

Break-even rent $993

Max offer price $125,000

Occupancy floor 74%

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 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	4d	1	0.06mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	0.14mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	0.19mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	16d	1	0.26mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	1d	1	0.58mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.69mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	0.70mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	16d	1	0.73mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	0.98mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	12d	1	0.98mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	0.98mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	1.09mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	1.22mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	24d	1	1.26mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	14d	1	1.28mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	4d	1	1.29mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	10d	1	1.29mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	4d	1	1.30mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	14d	5	1.31mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	43d	1	1.36mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	4d	1	1.37mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	43d	1	1.39mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	16d	1	1.40mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	1.40mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	1.43mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	43d	1	1.45mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	43d	1	1.47mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	1.48mi

Listing history 5 events

1. 2026-06-18
   days on market $125,000 Active 2 DOM
2. 2026-06-17
   statusdays on marketlisting id $125,000 Active 1 DOM
3. 2026-06-16
   days on market $125,000 Coming Soon 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $125,000 Coming Soon 1 DOM

ⓘ 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: $925 · $77/mo
• Projected year-2 tax: $1,425 · $119/mo
• Expected delta: +$500/yr (+$42/mo · 54.0%)

ⓘ 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 ≥98°F today · 14 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: $16,370
• − Mortgage interest: −$7,002
• − Property taxes: −$925
• − Insurance: −$625
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$3,636
• Taxable income: $1,563
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $3,141/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

1 event — show timeline

• 2026-06-14 Coming Soon $125,000 MiRealSource-MiMLS

Property tax history

-3.4%/yr

Latest (2025): $925 · -1.5% YoY. Source: county tax records.