16850 Woodbine St · Detroit, MI 48219

$22,000

3 bd · 1.0 ba · 884 sqft · SingleFamily public records · 10 Days on market

Built 1953 6,970 sqft lot

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Why this score? — see what drove the D 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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

Key facts

• 6,970 sq ft lot
• Built 1953
• Listed 10 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Cap rate 48.6% 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 rising fast (+8.0%/yr); 308 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 34% of the median local income ($44k/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 $152 of loan paydown is wiped out by about $660 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 + 8.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $28k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.64% ✓
• Cap rate: 48.59%
• Cash-on-cash: 151.08%
• DSCR: 7.72
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $88,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16230 Winston St	0.37mi	3/1.0	917 (+4%)	1mo	$80,000	$87	76
16841 Winston St	0.30mi	3/1.0	954 (+8%)	4mo	$95,500	$100	69
16618 Salem St	0.37mi	2/1.0 (-1)	833 (-6%)	4mo	$47,500	$57	64
17727 Woodbine St	0.58mi	3/1.5	850 (-4%)	0mo	$58,000	$68	64
17679 Woodbine St	0.54mi	3/1.0	850 (-4%)	6mo	$90,000	$106	64
17630 Brady	0.69mi	3/1.0	916 (+4%)	1mo	$164,000	$179	61
16555 Bramell St	0.69mi	3/1.0	918 (+4%)	3mo	$60,000	$65	59
15490 Dixie	0.75mi	3/1.0	912 (+3%)	2mo	$135,000	$148	58
17324 Salem St	0.46mi	2/1.0 (-1)	954 (+8%)	2mo	$74,900	$79	58
25012 Midland	0.70mi	2/1.0 (-1)	900 (+2%)	4mo	$85,000	$94	56
15512 Dixie	0.73mi	3/1.0	924 (+4%)	4mo	$130,000	$141	55
24859 Puritan	0.57mi	2/1.0 (-1)	768 (-13%)	2mo	$92,000	$120	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.51×
• Total profit: $52,442
• Equity at exit: $3,280

10-year hold

• IRR: —
• Equity multiple: 23.62×
• Total profit: $139,342
• Equity at exit: $1,902

Cash invested: $6,160 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 308
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$115
• Tax from tax record: −$81 /mo · $970/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $776

Break-even live

Break-even rent $260

Max offer price $22,000

Occupancy floor 33%

Sensitivity live

Price	-10% $788	-5% $782	+0% $776	+5% $769	+10% $763
Rent	-10% $677	-5% $726	+0% $776	+5% $825	+10% $874
Rate	-1.0pp $787	-0.5pp $781	base $776	+0.5pp $770	+1.0pp $764

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	18d	1	0.09mi
16800 Telegraph Rd Detroit, MI	2.0	1.0	775	$875	$1.13	44d	1	0.11mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	44d	1	0.18mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	5d	1	0.29mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	18d	1	0.37mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	25d	1	0.46mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	44d	1	0.71mi
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	6d	1	0.76mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	5d	1	0.87mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	25d	1	0.97mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	13d	1	1.03mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.08mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	44d	3	1.10mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	17d	1	1.19mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	1.23mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	1.24mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	1.26mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	1.26mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	44d	1	1.29mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	17d	1	1.32mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	44d	1	1.33mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	17d	1	1.33mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	44d	2	1.34mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	17d	1	1.34mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	44d	2	1.34mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.34mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	25d	1	1.37mi
21455 Pickford St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.43mi
21434 Karl St Detroit, MI	2.0	1.0	1000	$1,350	$1.35	44d	1	1.43mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	44d	1	1.49mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	25d	1	1.49mi

Listing history 25 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-09-23
   status Pending
5. 2021-01-28
   status Pending 256-char remark

   Show marketing remark (256 chars)

   Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

6. 2021-01-27
   status Pending 256-char remark

   Show marketing remark (256 chars)

   Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

7. 2021-01-27
   soldstatus $49,900 Sold 256-char remark

   Show marketing remark (256 chars)

   Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

8. 2021-01-27
   soldstatus $49,900 Closed 256-char remark

   Show marketing remark (256 chars)

   Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

9. 2021-01-19
   listed $49,900 Active 256-char remark

   Show marketing remark (256 chars)

   Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

10. 2021-01-19
    listed $49,900 Active 256-char remark

    Show marketing remark (256 chars)

    Nice 3 bedroom ranch style home with full basement and large backyard. Great opportunity for first time buyers. Property available on land contract terms witih $5000 down. Great location near most freeways and amenities. Buyer to pay $395 ADM fee at close.

11. 2019-11-18
    historical
12. 2019-10-18
    status Pending
13. 2019-10-15
    historical
14. 2019-07-08
    status Pending
15. 2019-07-08
    status Pending
16. 2019-06-28
    listed $22,000 Active
17. 2019-06-28
    listed $22,000 Active
18. 2007-08-13
    soldstatus $66,300
19. 2007-07-17
    soldstatus $66,300
20. 2007-05-04
    historical
21. 2007-05-02
    listed $69,900
22. 2007-04-03
    listed $79,900
23. 2007-04-03
    historical
24. 2007-01-20
    listed $79,900
25. 2000-09-05
    soldstatus $50,000

ⓘ 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: $970 · $81/mo
• Projected year-2 tax: $970 · $81/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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,899
• − Mortgage interest: −$1,232
• − Property taxes: −$970
• − Insurance: −$110
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$640
• Taxable income: $9,563
• Est. tax owed @ 24.0%: −$2,295
• After-tax cash flow: $7,011/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

-0.2% since first listed

25 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-09-23 Pending — REALCOMP
• 2021-01-28 Pending — MiRealSource-MiMLS
• 2021-01-27 Pending — REALCOMP
• 2021-01-27 Sold (MLS) $49,900 MiRealSource-MiMLS
• 2021-01-27 Sold (MLS) $49,900 REALCOMP
• 2021-01-19 Listed $49,900 MiRealSource-MiMLS
• 2021-01-19 Listed $49,900 REALCOMP
• 2019-11-18 Listing Removed — REALCOMP
• 2019-10-18 Pending — REALCOMP
• 2019-10-15 Listing Removed — REALCOMP
• 2019-07-08 Pending — MiRealSource-MiMLS
• 2019-07-08 Pending — REALCOMP
• 2019-06-28 Listed $22,000 MiRealSource-MiMLS
• 2019-06-28 Listed $22,000 REALCOMP
• 2007-08-13 Sold (Public Records) $66,300 Public Records
• 2007-07-17 Sold (MLS) $66,300 REALCOMP
• 2007-05-04 Listing Removed — REALCOMP
• 2007-05-02 Listed $69,900 REALCOMP
• 2007-04-03 Listing Removed — REALCOMP
• 2007-04-03 Listed $79,900 REALCOMP
• 2007-01-20 Listed $79,900 REALCOMP
• 2000-09-05 Sold (Public Records) $50,000 Public Records

Property tax history

-4.1%/yr

Latest (2025): $970 · -36.7% YoY. Source: county tax records.