18900 Forrer St · Detroit, MI 48235

$159,900

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 10 Days on market

Built 1948 6,098 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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated 3-bedroom brick bungalow situated on a desirable corner lot! This move-in-ready home offers the perfect blend of classic charm and modern updates. Step inside to find fresh paint throughout, all new flooring, stylish recessed lighting, and new six-panel interior doors. The completely updated kitchen features beautiful oak wood cabinetry, a custom tile backsplash, and stainless-steel appliances. The spacious second-floor primary bedroom provides a private retreat with plenty of room for a sitting area or home office. The finished basement adds valuable living space and includes a second full bathroom, making it ideal for entertaining, a recreation room, home gym, or guest accommodations. Outside, you'll enjoy a covered rear porch overlooking the yard, a newer vinyl privacy fence, and a 2-car detached garage. The corner lot offers added privacy and curb appeal. Conveniently located near several parks and recreational destinations including Rouge Park, one of Detroit's largest parks featuring walking trails, playgrounds, sports fields, and picnic areas. Residents also enjoy easy access to Patton Park, offering athletic fields, tennis courts, and community activities. With its extensive updates, finished basement, corner-lot location, and proximity to parks and recreation, this home is a fantastic opportunity for homeowners and investors alike. Schedule your private showing today!

Key facts

• Oak wood cabinetry
• Finished basement
• Updated kitchen

Tags

• UPDATED KITCHEN
• OAK WOOD CABINETRY
• CUSTOM TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES
• FINISHED BASEMENT
• COVERED REAR PORCH

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half levels; Ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.14 acres (40 x 140.18)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Wood-burning fireplace in the living room; Finished full basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $35 ($425/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 $138k (13.4% below list).
• Recommended offer: $138k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+3.2%/yr); 283 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 42% 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 $1k of loan paydown is wiped out by about $5k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 18y 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 $30k; list at $160k implies a 433% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,409 (13.4% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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?
4. 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?
5. 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?
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: 0.87% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $89,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18435 Robson St	0.47mi	3/1.0	925 (-1%)	0mo	$86,000	$93	76
18460 Winthrop St	0.21mi	3/1.0	1,002 (+7%)	7mo	$65,000	$65	73
19142 Murray Hill St	0.34mi	3/1.0	907 (-3%)	8mo	$87,000	$96	72
19165 Rutherford St	0.25mi	3/1.0	1,013 (+8%)	6mo	$43,500	$43	70
19348 Montrose St	0.32mi	3/1.5	990 (+6%)	5mo	$145,900	$147	70
18937 Lindsay St	0.60mi	3/1.0	951 (+2%)	2mo	$59,000	$62	68
19215 Winthrop St	0.24mi	3/1.5	1,030 (+10%)	6mo	$137,000	$133	65
19132 Gilchrist St	0.55mi	3/1.0	916 (-2%)	8mo	$85,000	$93	64
19152 Whitcomb St	0.32mi	2/1.5 (-1)	1,012 (+8%)	1mo	$110,000	$109	63
17552 Ferguson St	0.70mi	3/1.0	957 (+2%)	5mo	$43,000	$45	60
19966 Prevost St	0.72mi	3/1.0	890 (-5%)	7mo	$130,000	$146	53
18277 Asbury Park	0.49mi	3/1.5	1,038 (+11%)	7mo	$123,500	$119	51

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-23,312
• Equity at exit: $23,842

10-year hold

• IRR: -5.4%
• Equity multiple: 0.64×
• Total profit: $-15,986
• Equity at exit: $13,825

Cash invested: $44,772 (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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$839
• Tax from tax record: −$153 /mo · $1,834/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $35

Break-even live

Break-even rent $1,339

Max offer price $159,900

Occupancy floor 92%

Sensitivity live

Price	-10% $126	-5% $81	+0% $35	+5% $-10	+10% $-55
Rent	-10% $-74	-5% $-19	+0% $35	+5% $90	+10% $145
Rate	-1.0pp $116	-0.5pp $76	base $35	+0.5pp $-6	+1.0pp $-48

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	0.25mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	5d	1	0.27mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	4d	1	0.31mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.39mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	0.42mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	17d	1	0.45mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	44d	1	0.73mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	13d	1	0.74mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	0.84mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	17d	1	0.94mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	25d	1	0.99mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	44d	1	1.00mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	15d	5	1.03mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	5d	1	1.03mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	15d	1	1.06mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	5d	1	1.11mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	1.12mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	44d	1	1.12mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	25d	1	1.13mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	17d	1	1.15mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	44d	1	1.18mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	5d	1	1.21mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	44d	1	1.33mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	44d	1	1.36mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	25d	1	1.37mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	44d	1	1.43mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	44d	1	1.43mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.47mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	17d	1	1.48mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	44d	1	1.49mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	13d	1	1.49mi

Listing history 7 events

1. 2026-06-15
   statusdays on market $159,900 Pending 10 DOM
2. 2026-06-13
   days on market $159,900 Active 9 DOM
3. 2026-06-13
   days on market $159,900 Active 8 DOM
4. 2026-06-09
   days on market $159,900 Active 5 DOM
5. 2026-06-08
   days on market $159,900 Active 4 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $159,900 Active 3 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: $1,834 · $153/mo
• Projected year-2 tax: $2,148 · $179/mo
• Expected delta: +$314/yr (+$26/mo · 17.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,609
• − Mortgage interest: −$8,957
• − Property taxes: −$1,834
• − Insurance: −$800
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$4,652
• Taxable loss: −$2,290
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $975/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+1302.6% since first listed

9 events — show timeline

• 2026-06-04 Listed $159,900 MiRealSource-MiMLS
• 2026-06-04 Listed $159,900 REALCOMP
• 2010-09-13 Sold (Public Records) $30,000 Public Records
• 2010-07-30 Listing Removed — REALCOMP
• 2010-06-21 Listing Removed — REALCOMP
• 2010-06-21 Listed $45,900 REALCOMP
• 2010-04-30 Listed $49,999 REALCOMP
• 2009-02-19 Listing Removed — REALCOMP
• 2008-10-28 Listed $11,400 REALCOMP

Property tax history

+17.6%/yr

Latest (2025): $1,834 · -0.6% YoY. Source: county tax records.