18217 Hamann St · Riverview, MI 48193

$149,900

3 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 5 Days on market

Built 1954 5,663 sqft lot Est $191k · 21% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPLE OFFERS. .. HIGHEST AND BEST DEADLINE IS TUESDAY 4/28 AT 4:00 P. M. IMMEDIATE OCCUPANCY on this 3 bedroom brick ranch in Riverview! It's an easy life with everything on the first floor! Build some sweat equity and make this your home! This house has a new furnace and A/C ('25), updated windows and roof, walk up attic with storage, separate laundry room, large 2 car garage, 3-season room and fenced yard with fire pit. This is a great home and perfect for first time buyers, downsizers or add it to your portfolio and let it make money for you! Buyer to complete city required repairs and obtain C of O (Riverview requires an escrow).

Key facts

• New furnace
• Walk up attic
• A c

Tags

• NEW FURNACE
• A C
• UPDATED WINDOWS
• UPDATED ROOF
• WALK UP ATTIC
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Located in Riverview Gardens subdivision; Cross streets: Sibley & Fort; Directions: Fort to Sibley, east to Hamann, north to house on right

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry; Brick construction
• Construction: Brick exterior; Asphalt roof; Slab foundation
• Exterior features: Paved road access; 50 x 115 lot (0.13 acres)

Interior

• Kitchen: Free-standing gas range
• Bedrooms: 7 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Attic fan; Forced air heating; Natural gas heat
• Interior features: Free-standing gas range
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $46 ($553/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (10.0% below list).
• Recommended offer: $135k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.4% in Riverview — 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 84/100 on livability (#32 in MI, #671 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A.
• Riverview Community School District (suburban): math 28% / reading 45% proficiency, ranked #253 of 540 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Memorial Elementary School (math 22% / reading 37%, grade F, #866 of 1,397 statewide, top 65%, 412 students, 64% FRL); Seitz Middle School (math 28% / reading 44%, grade F, #269 of 493 statewide, top 56%, 600 students, 53% FRL); Riverview Community High School (math 30% / reading 59%, grade F, #214 of 713 statewide, top 36%, 883 students, 41% FRL) — zoned schools average 53% FRL vs 33% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,938 (10.0% below list)

Questions for the listing agent

1. Built in 1954 — 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. 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.
4. 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.
5. 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: 0.90% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $190,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18217 Hamann St	0.00mi	3/1.0	1,036 (0%)	1mo	$168,852	$163	99
18055 Hinton St	0.11mi	3/1.0	1,036 (0%)	3mo	$220,000	$212	93
18580 Marsha St	0.23mi	3/1.0	1,036 (0%)	1mo	$210,000	$203	88
18530 Matthews St	0.23mi	3/1.0	1,036 (0%)	1mo	$180,000	$174	88
18582 Hamann St	0.19mi	3/1.0	1,036 (0%)	5mo	$206,000	$199	87
18031 Hamann St	0.11mi	3/1.0	996 (-4%)	3mo	$175,200	$176	86
18216 Wendy Ct	0.24mi	3/1.0	1,036 (0%)	4mo	$188,900	$182	86
18616 Koester St	0.24mi	3/2.0	988 (-5%)	4mo	$185,800	$188	74
11571 Grant St	0.74mi	3/1.0	1,070 (+3%)	1mo	$155,000	$145	60
14240 Stratford St	0.74mi	3/1.5	1,038 (+0%)	6mo	$244,900	$236	58
17788 Quarry St St	0.33mi	3/2.0	1,180 (+14%)	5mo	$165,000	$140	54
11804 Garfield St	0.71mi	3/1.0	905 (-13%)	1mo	$166,400	$184	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-21,345
• Equity at exit: $22,351

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-14,765
• Equity at exit: $12,961

Cash invested: $41,972 (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 48193

• Active inventory: 36
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,349 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$171 /mo · $2,057/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $46

Break-even live

Break-even rent $1,291

Max offer price $149,900

Occupancy floor 92%

Sensitivity live

Price	-10% $131	-5% $89	+0% $46	+5% $4	+10% $-39
Rent	-10% $-61	-5% $-7	+0% $46	+5% $99	+10% $153
Rate	-1.0pp $122	-0.5pp $84	base $46	+0.5pp $7	+1.0pp $-32

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17400 Fort St Riverview, MI	1.0–2.0	1.0	800	$1,225	$1.53	0d	11	0.47mi
13861 Strathcona St Southgate, MI	1.0–2.0	1.0–1.5	797	$1,140	$1.43	0d	5	1.13mi
15027 Brookview Dr Riverview, MI	1.0–2.0	1.0	1020	$1,499	$1.47	0d	34	1.16mi
3851 17th St Wyandotte, MI	2.0	1.0	764	$1,200	$1.57	4d	1	1.38mi

Listing history 4 events

1. 2026-04-29
   status Pending 644-char remark

   Show marketing remark (644 chars)

   MULTIPLE OFFERS. .. HIGHEST AND BEST DEADLINE IS TUESDAY 4/28 AT 4:00 P. M. IMMEDIATE OCCUPANCY on this 3 bedroom brick ranch in Riverview! It's an easy life with everything on the first floor! Build some sweat equity and make this your home! This house has a new furnace and A/C ('25), updated windows and roof, walk up attic with storage, separate laundry room, large 2 car garage, 3-season room and fenced yard with fire pit. This is a great home and perfect for first time buyers, downsizers or add it to your portfolio and let it make money for you! Buyer to complete city required repairs and obtain C of O (Riverview requires an escrow).

2. 2026-04-29
   status Pending

   Show marketing remark (644 chars)

   MULTIPLE OFFERS. .. HIGHEST AND BEST DEADLINE IS TUESDAY 4/28 AT 4:00 P. M. IMMEDIATE OCCUPANCY on this 3 bedroom brick ranch in Riverview! It's an easy life with everything on the first floor! Build some sweat equity and make this your home! This house has a new furnace and A/C ('25), updated windows and roof, walk up attic with storage, separate laundry room, large 2 car garage, 3-season room and fenced yard with fire pit. This is a great home and perfect for first time buyers, downsizers or add it to your portfolio and let it make money for you! Buyer to complete city required repairs and obtain C of O (Riverview requires an escrow).

3. 2026-04-22
   listed $149,900 Active 644-char remark

   Show marketing remark (644 chars)

   MULTIPLE OFFERS. .. HIGHEST AND BEST DEADLINE IS TUESDAY 4/28 AT 4:00 P. M. IMMEDIATE OCCUPANCY on this 3 bedroom brick ranch in Riverview! It's an easy life with everything on the first floor! Build some sweat equity and make this your home! This house has a new furnace and A/C ('25), updated windows and roof, walk up attic with storage, separate laundry room, large 2 car garage, 3-season room and fenced yard with fire pit. This is a great home and perfect for first time buyers, downsizers or add it to your portfolio and let it make money for you! Buyer to complete city required repairs and obtain C of O (Riverview requires an escrow).

4. 2026-04-22
   listed $149,900 Active

   Show marketing remark (644 chars)

   MULTIPLE OFFERS. .. HIGHEST AND BEST DEADLINE IS TUESDAY 4/28 AT 4:00 P. M. IMMEDIATE OCCUPANCY on this 3 bedroom brick ranch in Riverview! It's an easy life with everything on the first floor! Build some sweat equity and make this your home! This house has a new furnace and A/C ('25), updated windows and roof, walk up attic with storage, separate laundry room, large 2 car garage, 3-season room and fenced yard with fire pit. This is a great home and perfect for first time buyers, downsizers or add it to your portfolio and let it make money for you! Buyer to complete city required repairs and obtain C of O (Riverview requires an escrow).

ⓘ 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: $2,057 · $171/mo
• Projected year-2 tax: $2,183 · $182/mo
• Expected delta: +$126/yr (+$10/mo · 6.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,193
• − Mortgage interest: −$8,397
• − Property taxes: −$2,057
• − Insurance: −$750
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$4,361
• Taxable loss: −$1,962
• Est. tax savings @ 24.0%: +$471
• After-tax cash flow: $1,024/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: Riverview Community School District
• NCES district ID: 2629910
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $51,029
• Composite: 31.63/100
• National rank: #5935
• State rank: #253 of 540 in MI

Livability — Riverview

• Score: 84/100
• State rank: #32
• US rank: #671

Category grades

Amenities B+ Commute A Cost of living A+ Crime A- Employment B- Housing A+ Health & safety B- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverview, MI
• County: Wayne County · 1,562,939 people
• City population: 16,119
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 16,119
• Household income: $74,566
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 591.0

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 White (73%)
• Race & ethnicity: White 73% Black 9% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 12% Lithuanian 5% Italian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Arabic 2% 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: ▼ -127.37%
• Current HPI: 212.8017
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-29 Pending — REALCOMP
• 2026-04-22 Listed $149,900 REALCOMP
• 2026-04-22 Listed $149,900 MiRealSource-MiMLS

Property tax history

-0.6%/yr

Latest (2025): $2,057 · -35.8% YoY. Source: county tax records.