4226 18th St · Detroit, MI 48208

$60,000

3 bd · 1.5 ba · 1,565 sqft · SingleFamily public records · 83 Days on market

Built 1900 9,148 sqft lot Est $100k · 40% 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 +15.0/15.0
• 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

This property is sold with 4200, 4206,and 4214 18th St. Not sold separately. A buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with POF, Pre-App letter, or new construction loan of the property. Projects will require approval of the Design Review from the city of Detroit. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

Key facts

• 9,148 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 30.5% 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: 184 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $1,987/mo this rent would consume 66% of the median local household income ($36k/yr) (locally 601% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $9k; list at $60k implies a 567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1900 — 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: 3.31% ✓
• Cap rate: 30.49%
• Cash-on-cash: 86.43%
• DSCR: 4.85
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $100,160
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3914 24th St	0.51mi	4/2.0 (+1)	1,547 (-1%)	8mo	$51,000	$33	60
2844 16th St	0.67mi	3/2.5	1,534 (-2%)	2mo	$208,869	$136	60
3420 Buchanan St	0.49mi	4/1.5 (+1)	1,455 (-7%)	7mo	$20,000	$14	55
2931 Poplar St	0.21mi	3/1.5	1,756 (+12%)	22mo	$290,000	$165	51
3066 23rd St	0.67mi	4/2.0 (+1)	1,570 (+0%)	12mo	$100,000	$64	51
3024 25th St	0.73mi	2/1.5 (-1)	1,440 (-8%)	12mo	$228,500	$159	38
2848 Williams St	0.69mi	3/1.0	1,351 (-14%)	19mo	$60,000	$44	27

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: 86.9%
• Equity multiple: 5.01×
• Total profit: $67,342
• Equity at exit: $8,946

10-year hold

• IRR: 90.0%
• Equity multiple: 10.40×
• Total profit: $157,862
• Equity at exit: $5,188

Cash invested: $16,800 (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 48208

• Home prices YoY: -5.9%
• Active inventory: 184
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,987 high
• Mortgage (P&I): −$315
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $1,210

Break-even live

Break-even rent $455

Max offer price $60,000

Occupancy floor 34%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3998 15th St Unit 1 Detroit, MI	2.0	1.0	1200	$1,300	$1.08	43d	1	0.19mi
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	2d	1	0.22mi
3309 14th St Detroit, MI	1.0–3.0	1.0–2.5	942	$2,230	$2.37	1d	11	0.53mi
3984 Commonwealth St Unit B Detroit, MI	3.0	2.0	1100	$2,400	$2.18	24d	1	0.64mi
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	16d	1	0.78mi
2732 Harrison St Detroit, MI	2.0	2.5	1320	$2,750	$2.08	43d	1	0.91mi
1493 W Grand Blvd Detroit, MI	2.0	1.0	1250	$1,145	$0.92	43d	1	1.00mi
944 W Alexandrine St Unit 1 Detroit, MI	3.0	1.0	1100	$1,950	$1.77	43d	1	1.01mi
6077 Linwood St Detroit, MI	2.0	1.0	1200	$2,000	$1.67	43d	1	1.07mi
2223 Wabash St Detroit, MI	2.0	2.0	1300	$2,800	$2.15	12d	1	1.12mi
701 W Canfield St Unit 4 Detroit, MI	2.0	1.5	1094	$3,000	$2.74	43d	1	1.13mi
701 W Canfield St Unit 1 Detroit, MI	2.0	1.5	1144	$3,250	$2.84	43d	1	1.13mi
677 W Canfield St Detroit, MI	2.0	1.5	1200	$2,750	$2.29	17d	1	1.15mi
669 W Canfield St Unit 2 Detroit, MI	2.0	2.0	1500	$2,400	$1.60	43d	1	1.16mi
6144 16th St Detroit, MI	3.0	1.0	1284	$1,200	$0.93	43d	1	1.18mi
640 W Willis St Detroit, MI	1.0–2.0	1.0	1037	$1,750	$1.69	4d	10	1.18mi
1611 Michigan Ave Detroit, MI	1.0–2.0	1.0–2.5	1487	$4,750	$3.19	1d	8	1.29mi
1620 Michigan Ave Detroit, MI	2.0	1.0–2.0	1052	$3,500	$3.33	1d	1	1.29mi
6183 Hecla St Detroit, MI	3.0	1.0	1100	$1,700	$1.55	24d	1	1.30mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	43d	1	1.40mi
1640 Bagley St #13 Detroit, MI	2.0	2.5	1400	$4,250	$3.04	43d	1	1.43mi
3012 Lothrop Detroit, MI	2.0	1.0	1800	$1,300	$0.72	2d	1	1.47mi

Listing history 11 events

1. 2026-02-09
   status Pending 845-char remark

   Show marketing remark (845 chars)

   This property is sold with 4200, 4206,and 4214 18th St. Not sold separately. A buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with POF, Pre-App letter, or new construction loan of the property. Projects will require approval of the Design Review from the city of Detroit. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

2. 2026-02-09
   status Pending

   Show marketing remark (845 chars)

   This property is sold with 4200, 4206,and 4214 18th St. Not sold separately. A buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with POF, Pre-App letter, or new construction loan of the property. Projects will require approval of the Design Review from the city of Detroit. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

3. 2025-11-18
   listed $60,000 Active 845-char remark

   Show marketing remark (845 chars)

   This property is sold with 4200, 4206,and 4214 18th St. Not sold separately. A buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with POF, Pre-App letter, or new construction loan of the property. Projects will require approval of the Design Review from the city of Detroit. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

4. 2025-11-18
   listed $60,000 Active

   Show marketing remark (845 chars)

   This property is sold with 4200, 4206,and 4214 18th St. Not sold separately. A buyer must submit a proposal to purchase, including construction plans or precedent architectural images of proposed development & financing plan with POF, Pre-App letter, or new construction loan of the property. Projects will require approval of the Design Review from the city of Detroit. The Tax Capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights & may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development financing. BATVAI Please see attached documents for DLBA requirements. Proposal should be submitted through google doc application. Use the link in the attachments.

5. 2025-09-16
   historical
6. 2025-09-16
   historical
7. 2024-11-26
   price $50,000
8. 2024-11-26
   price $50,000
9. 2022-12-15
   listed $60,000 Active
10. 2022-12-12
    listed $60,000 Active
11. 2002-06-17
    soldstatus $9,000

ⓘ 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: $240 · $20/mo
• Projected year-2 tax: $582 · $48/mo
• Expected delta: +$342/yr (+$28/mo · 142.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,843
• − Mortgage interest: −$3,361
• − Property taxes: −$240
• − Insurance: −$300
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$1,745
• Taxable income: $14,382
• Est. tax owed @ 24.0%: −$3,452
• After-tax cash flow: $11,069/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): 8,037
• Household income: $36,194
• Rent vs Own: 65.7% rent · 34.3% own
• Severe rent burden: 601.0

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 (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% Arabic 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: ▼ -10.56%
• Current HPI: 168.8907
• 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

+566.7% since first listed

11 events — show timeline

• 2026-02-09 Pending — MiRealSource-MiMLS
• 2026-02-09 Pending — REALCOMP
• 2025-11-18 Listed $60,000 REALCOMP
• 2025-11-18 Listed $60,000 MiRealSource-MiMLS
• 2025-09-16 Listing Removed — MiRealSource-MiMLS
• 2025-09-16 Listing Removed — REALCOMP
• 2024-11-26 Price Changed $50,000 MiRealSource-MiMLS
• 2024-11-26 Price Changed $50,000 REALCOMP
• 2022-12-15 Listed $60,000 REALCOMP
• 2022-12-12 Listed $60,000 MiRealSource-MiMLS
• 2002-06-17 Sold (Public Records) $9,000 Public Records

Property tax history

-38.4%/yr

Latest (2016): $240 · -51.2% YoY. Source: county tax records.