18968 Goulburn St · Detroit, MI 48205

$75,000

3 bd · 1.0 ba · 1,227 sqft · SingleFamily public records · 3 Days on market

Built 1939 4,356 sqft lot Est $64k · 18% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

THREE BEDROOM BRICK HOME NEWLY FULLY RENOVATED , MOVE-IN READY WITH CENTRAL A/C. THE PROPERTY IS GOOD FOR FIRST TIME BUYERS OR INVESTORS. THE PROPERTY HAS TWO CAR DETACHED BRICK GARAGE. THE BASEMENT INCLUDES FRESHLY PAINTED WALLS.

Key facts

• Central a/c
• Brick home
• 4,356 sq ft lot

Tags

• BRICK HOME
• NEWLY FULLY RENOVATED
• CENTRAL A/C
• TWO CAR DETACHED GARAGE
• FRESHLY PAINTED WALLS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Built area: above grade finished ~1,200; below grade finished ~818
• Exterior features: Paved road access; Lot approximately 0.1 acre (36 x 120)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 14.5% vs local median 10.0% 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 (+1.3%/yr); 376 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 43% 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 $519 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 + 1.3% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 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: property tax is 2.6% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1939 — 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. 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.
7. 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.
8. 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: 1.86% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.36%
• DSCR: 2.31
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $63,804
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18680 Westphalia St	0.13mi	4/1.0 (+1)	1,247 (+2%)	1mo	$75,000	$60	86
18652 Goulburn St	0.14mi	4/1.0 (+1)	1,200 (-2%)	2mo	$23,000	$19	83
18631 Fairport St	0.19mi	3/1.5	1,173 (-4%)	6mo	$9,000	$8	77
19230 Mapleview St	0.52mi	3/2.0	1,160 (-6%)	7mo	$65,000	$56	57
13830 Eastwood St	0.59mi	3/1.5	1,300 (+6%)	6mo	$68,000	$52	56
19940 Westphalia St	0.62mi	3/1.0	1,114 (-9%)	0mo	$30,000	$27	55
19353 Strasburg St	0.37mi	2/1.0 (-1)	1,103 (-10%)	7mo	$68,000	$62	55
18430 Alcoy St	0.38mi	3/1.0	1,064 (-13%)	7mo	$18,000	$17	54
11821 Greiner St	0.65mi	4/1.5 (+1)	1,198 (-2%)	7mo	$26,000	$22	53
18488 Fairport St	0.27mi	4/2.0 (+1)	1,066 (-13%)	7mo	$83,000	$78	51
19753 Westphalia St	0.50mi	3/1.0	1,070 (-13%)	7mo	$30,000	$28	50
19521 Strasburg St	0.43mi	4/1.5 (+1)	1,381 (+13%)	7mo	$135,000	$98	46

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 1.87×
• Total profit: $18,337
• Equity at exit: $11,183

10-year hold

• IRR: 28.7%
• Equity multiple: 3.34×
• Total profit: $49,236
• Equity at exit: $6,485

Cash invested: $21,000 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,392 high
• Mortgage (P&I): −$393
• Tax from tax record: −$161 /mo · $1,934/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $514

Break-even live

Break-even rent $741

Max offer price $75,000

Occupancy floor 58%

Sensitivity live

Price	-10% $556	-5% $535	+0% $514	+5% $493	+10% $471
Rent	-10% $404	-5% $459	+0% $514	+5% $569	+10% $624
Rate	-1.0pp $552	-0.5pp $533	base $514	+0.5pp $494	+1.0pp $475

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	19d	1	0.13mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	45d	1	0.15mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	19d	1	0.16mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	23d	1	0.20mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	0.20mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	0.21mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	45d	1	0.21mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	19d	1	0.29mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	19d	1	0.29mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	0.36mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	19d	1	0.42mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	19d	1	0.51mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	19d	1	0.55mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	19d	1	0.60mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	19d	1	0.74mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	45d	1	0.77mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	19d	1	0.79mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	3d	1	0.85mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	19d	1	0.90mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	19d	1	0.90mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	13d	1	0.90mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	0.91mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	19d	1	0.96mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	19d	1	0.99mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,200	$0.92	0d	1	1.00mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	1.00mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	5d	1	1.01mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	13d	1	1.02mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	1.05mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	1.12mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	1.12mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	1.15mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	45d	1	1.15mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	5d	1	1.17mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	45d	1	1.20mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	19d	1	1.21mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	45d	1	1.22mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	19d	1	1.22mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	45d	1	1.23mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.24mi

Listing history 3 events

1. 2026-06-21
   days on market $75,000 Active 3 DOM
2. 2026-06-19
   remarks 234-char remark
3. 2026-06-19
   listed $75,000 Active 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: $1,934 · $161/mo
• Projected year-2 tax: $1,934 · $161/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 ≥96°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: $16,703
• − Mortgage interest: −$4,201
• − Property taxes: −$1,934
• − Insurance: −$375
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$2,182
• Taxable income: $5,338
• Est. tax owed @ 24.0%: −$1,281
• After-tax cash flow: $4,885/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

2 events — show timeline

• 2026-06-18 Listed $75,000 MiRealSource-MiMLS
• 2026-06-18 Listed $75,000 REALCOMP

Property tax history

-0.0%/yr

Latest (2025): $1,934 · +19.8% YoY. Source: county tax records.