18710 Mccormick St · Detroit, MI 48224

$63,000

3 bd · 1.0 ba · 944 sqft · SingleFamily public records · 45 Days on market

Built 1948 4,792 sqft lot $67/sqft · 7% above area Est $75k · 15% under ↓ 34% since listing

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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 +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 18710 McCormick Street - an excellent opportunity for homeowners and investors alike. This property offers solid bones and plenty of potential for customization, making it ideal for those looking to add value or create their own vision. Featuring a functional layout with generous living space, this home provides a great foundation for updates and improvements. The property sits on a manageable lot with room for outdoor enjoyment and future enhancements. Whether you're a first-time buyer looking for an affordable entry point or an investor seeking your next project, this property presents strong upside potential. Conveniently located near local amenities, schools, and major roadways, offering easy access to everything you need. Sold as-is. Buyer to verify all information.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1948

Property features AI

Exterior

• Parking: Detached driveway; Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation; Asphalt roof
• Exterior features: Paved road frontage; Lot dimensions approximately 40 x 115 (0.11 acres)

Interior

• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $61k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 36% of the median local income ($45k/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 $436 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 + 0.7% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 5 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 $8k; list at $63k implies a 678% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,110 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.15% ✓
• Cap rate: 16.83%
• Cash-on-cash: 37.64%
• DSCR: 2.67
• GRM: 3.9

CMA / ARV

• ARV (median comp): $74,549
• List price: $63,000
• Delta: -15.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16301 Coram St	0.31mi	3/1.0	929 (-2%)	1mo	$19,500	$21	82
18746 Woodside St	0.33mi	3/1.0	921 (-2%)	2mo	$110,000	$119	79
16277 Liberal St	0.43mi	3/1.0	945 (+0%)	1mo	$25,000	$26	79
12893 Payton St	0.18mi	3/1.0	1,020 (+8%)	1mo	$75,000	$74	77
12897 Riad St	0.11mi	3/1.0	831 (-12%)	1mo	$63,000	$76	74
18591 Kingsville St	0.09mi	2/1.0 (-1)	824 (-13%)	1mo	$74,000	$90	69
16209 Tacoma St	0.57mi	3/1.0	968 (+2%)	1mo	$62,900	$65	69
15260 Faircrest St	0.72mi	2/1.0 (-1)	942 (-0%)	1mo	$35,000	$37	60
11545 Roxbury St	0.62mi	3/1.0	1,003 (+6%)	1mo	$65,000	$65	60
18905 Woodland St	0.51mi	3/1.5	1,023 (+8%)	1mo	$105,000	$103	59
16291 Fairmount Dr	0.75mi	3/1.0	977 (+4%)	2mo	$112,000	$115	58
11640 Somerset Ave	0.68mi	3/2.0	1,028 (+9%)	0mo	$70,000	$68	50

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 2.25×
• Total profit: $22,080
• Equity at exit: $9,394

10-year hold

• IRR: 36.7%
• Equity multiple: 4.01×
• Total profit: $53,039
• Equity at exit: $5,447

Cash invested: $17,640 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$330
• Tax from tax record: −$159 /mo · $1,909/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $553

Break-even live

Break-even rent $653

Max offer price $63,000

Occupancy floor 54%

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.22mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.22mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.26mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.36mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.36mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.36mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	0.41mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.43mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	0.48mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	43d	1	0.50mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.52mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.52mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	0.56mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.61mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.62mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.62mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.66mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	0.78mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.82mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	0.83mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.87mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	15d	1	0.92mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.96mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.03mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	1.05mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	14d	1	1.07mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	1.07mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	1.12mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	1.13mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	15d	1	1.17mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	1.18mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	1.20mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.25mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	1.29mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.38mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	1.42mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	43d	1	1.43mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	43d	1	1.44mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	43d	1	1.44mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	2d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $63,000 Active 45 DOM
2. 2026-06-17
   days on market $63,000 Active 44 DOM
3. 2026-06-15
   days on market $63,000 Active 42 DOM
4. 2026-06-13
   days on market $63,000 Active 40 DOM
5. 2026-06-13
   days on market $63,000 Active 39 DOM
6. 2026-06-09
   days on market $63,000 Active 36 DOM
7. 2026-06-08
   days on market $63,000 Active 35 DOM
8. 2026-06-07
   days on market $63,000 Active 34 DOM
9. 2026-06-04
   days on market $63,000 Active 31 DOM
10. 2026-06-03
    days on market $63,000 Active 30 DOM
11. 2026-06-02
    days on market $63,000 Active 29 DOM
12. 2026-06-01
    days on market $63,000 Active 28 DOM
13. 2026-05-31
    days on market $63,000 Active 27 DOM
14. 2026-05-04
    listed $63,000 Active 792-char remark

    Show marketing remark (792 chars)

    Welcome to 18710 McCormick Street - an excellent opportunity for homeowners and investors alike. This property offers solid bones and plenty of potential for customization, making it ideal for those looking to add value or create their own vision. Featuring a functional layout with generous living space, this home provides a great foundation for updates and improvements. The property sits on a manageable lot with room for outdoor enjoyment and future enhancements. Whether you're a first-time buyer looking for an affordable entry point or an investor seeking your next project, this property presents strong upside potential. Conveniently located near local amenities, schools, and major roadways, offering easy access to everything you need. Sold as-is. Buyer to verify all information.

15. 2026-05-04
    listed $63,000 Active 796-char remark

    Show marketing remark (792 chars)

    Welcome to 18710 McCormick Street - an excellent opportunity for homeowners and investors alike. This property offers solid bones and plenty of potential for customization, making it ideal for those looking to add value or create their own vision. Featuring a functional layout with generous living space, this home provides a great foundation for updates and improvements. The property sits on a manageable lot with room for outdoor enjoyment and future enhancements. Whether you're a first-time buyer looking for an affordable entry point or an investor seeking your next project, this property presents strong upside potential. Conveniently located near local amenities, schools, and major roadways, offering easy access to everything you need. Sold as-is. Buyer to verify all information.

16. 2011-10-06
    soldstatus $8,100

    Show marketing remark (316 chars)

    3 Bedroom, Alum Sided Bungalow with a full size partially finished basement and 2 car Detached garage. Breakfast Nook off of the kitchen area. Some updated vinyl windows. Hardwood floors. Owner occupant bidders only until 9-4-2011. After that it will be available to all bidders including investors on a daily basis.

17. 2011-10-06
    soldstatus $8,100

    Show marketing remark (316 chars)

    3 Bedroom, Alum Sided Bungalow with a full size partially finished basement and 2 car Detached garage. Breakfast Nook off of the kitchen area. Some updated vinyl windows. Hardwood floors. Owner occupant bidders only until 9-4-2011. After that it will be available to all bidders including investors on a daily basis.

18. 2011-09-20
    historical

    Show marketing remark (316 chars)

    3 Bedroom, Alum Sided Bungalow with a full size partially finished basement and 2 car Detached garage. Breakfast Nook off of the kitchen area. Some updated vinyl windows. Hardwood floors. Owner occupant bidders only until 9-4-2011. After that it will be available to all bidders including investors on a daily basis.

19. 2011-08-31
    listed $9,000

    Show marketing remark (316 chars)

    3 Bedroom, Alum Sided Bungalow with a full size partially finished basement and 2 car Detached garage. Breakfast Nook off of the kitchen area. Some updated vinyl windows. Hardwood floors. Owner occupant bidders only until 9-4-2011. After that it will be available to all bidders including investors on a daily basis.

20. 2011-08-31
    listed $9,000

    Show marketing remark (316 chars)

    3 Bedroom, Alum Sided Bungalow with a full size partially finished basement and 2 car Detached garage. Breakfast Nook off of the kitchen area. Some updated vinyl windows. Hardwood floors. Owner occupant bidders only until 9-4-2011. After that it will be available to all bidders including investors on a daily basis.

21. 2007-02-08
    soldstatus $75,000
22. 2006-10-31
    listed $95,000

ⓘ 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: $1,909 · $159/mo
• Projected year-2 tax: $1,909 · $159/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 3/10 Moderate 7 d/yr ≥95°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: $16,239
• − Mortgage interest: −$3,529
• − Property taxes: −$1,909
• − Insurance: −$315
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$1,833
• Taxable income: $6,055
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $5,187/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-33.7% since first listed

9 events — show timeline

• 2026-05-04 Listed $63,000 REALCOMP
• 2026-05-04 Listed $63,000 MiRealSource-MiMLS
• 2011-10-06 Sold (MLS) $8,100 REALCOMP
• 2011-10-06 Sold (MLS) $8,100 MiRealSource-MiMLS
• 2011-09-20 Listing Removed — MiRealSource-MiMLS
• 2011-08-31 Listed $9,000 REALCOMP
• 2011-08-31 Listed $9,000 MiRealSource-MiMLS
• 2007-02-08 Sold (MLS) $75,000 REALCOMP
• 2006-10-31 Listed $95,000 REALCOMP

Property tax history

+1.1%/yr

Latest (2025): $1,909 · +1.2% YoY. Source: county tax records.