18101 Cornwall St · Detroit, MI 48224

$77,500

4 bd · 1.0 ba · 1,083 sqft · SingleFamily public records · 84 Days on market

Built 1947 3,920 sqft lot $72/sqft · at area comps Est $77k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.2/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention savvy Investor!! Four bedroom, One bath home offers a great opportunity in a prime location near the edge of Cornerstone Village. Currently rented for $1100 a month. Featuring a large addition that provides extra storage and room for the creative investor to add value. Located near shopping and highways and offers immediate cash flow. Add this great property to your portfolio today. Want to purchase a complete portfolio in the same location, ask about our other listings on same block. Showings after accepted offer.

Key facts

• Immediate cash flow
• Extra storage
• Large addition

Tags

• PRIME LOCATION
• LARGE ADDITION
• EXTRA STORAGE
• IMMEDIATE CASH FLOW

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $73k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 flat; 484 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 39% of the median local income ($45k/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 $536 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 + 0.7% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 14y 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 $52k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,850 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1947 — 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: 1.89% ✓
• Cap rate: 15.42%
• Cash-on-cash: 32.59%
• DSCR: 2.45
• GRM: 4.4

CMA / ARV

• ARV (median comp): $77,049
• List price: $77,500
• Delta: 0.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5271 Marseilles St	0.36mi	3/1.0 (-1)	1,100 (+2%)	5mo	$75,000	$68	71
5260 Marseilles St	0.34mi	3/1.0 (-1)	1,040 (-4%)	7mo	$75,000	$72	67
4104 Woodhall St	0.57mi	3/1.0 (-1)	1,090 (+1%)	3mo	$29,900	$27	65
5252 Lodewyck St	0.31mi	3/1.5 (-1)	1,006 (-7%)	5mo	$105,000	$104	62
4597 University Pl	0.25mi	3/1.0 (-1)	1,210 (+12%)	7mo	$77,500	$64	58
5281 Marseilles St	0.37mi	3/1.0 (-1)	1,200 (+11%)	5mo	$75,000	$63	55
4335 Cadieux Rd	0.71mi	3/1.0 (-1)	1,062 (-2%)	6mo	$80,000	$75	54
5330 Hereford St	0.49mi	3/1.0 (-1)	1,204 (+11%)	3mo	$103,000	$86	51
5279 Cadieux Rd	0.74mi	3/2.0 (-1)	1,161 (+7%)	0mo	$68,000	$59	44
4325 Cadieux Rd	0.71mi	3/1.0 (-1)	1,002 (-8%)	7mo	$85,000	$85	44
5981 University Pl	0.74mi	3/1.0 (-1)	964 (-11%)	3mo	$64,000	$66	40
4356 Harvard Rd	0.73mi	3/2.0 (-1)	921 (-15%)	1mo	$150,000	$163	31

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.00×
• Total profit: $21,740
• Equity at exit: $11,556

10-year hold

• IRR: 31.3%
• Equity multiple: 3.52×
• Total profit: $54,582
• Equity at exit: $6,701

Cash invested: $21,700 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$406
• Tax from tax record: −$132 /mo · $1,584/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $589

Break-even live

Break-even rent $722

Max offer price $77,500

Occupancy floor 55%

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.64mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.69mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.84mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	17d	1	0.86mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.89mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.92mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	2d	1	0.93mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.98mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	1.03mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	1.07mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.14mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	1.29mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.31mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	2d	1	1.33mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	44d	1	1.34mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	1.35mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.40mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.46mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	1.46mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.47mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.47mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.47mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.48mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.49mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	1.50mi

Listing history 41 events

1. 2026-06-18
   days on market $77,500 Active 84 DOM
2. 2026-06-17
   days on market $77,500 Active 83 DOM
3. 2026-06-15
   days on market $77,500 Active 81 DOM
4. 2026-06-13
   days on market $77,500 Active 79 DOM
5. 2026-06-13
   days on market $77,500 Active 78 DOM
6. 2026-06-09
   days on market $77,500 Active 75 DOM
7. 2026-06-08
   days on market $77,500 Active 74 DOM
8. 2026-06-07
   days on market $77,500 Active 73 DOM
9. 2026-06-04
   days on market $77,500 Active 70 DOM
10. 2026-06-03
    days on market $77,500 Active 69 DOM
11. 2026-06-02
    days on market $77,500 Active 68 DOM
12. 2026-06-02
    price $77,500 Active 67 DOM
13. 2026-06-01
    days on market $80,000 Active 67 DOM
14. 2026-05-31
    days on market $80,000 Active 66 DOM
15. 2026-03-26
    listed $80,000 Active 530-char remark

    Show marketing remark (530 chars)

    Attention savvy Investor!! Four bedroom, One bath home offers a great opportunity in a prime location near the edge of Cornerstone Village. Currently rented for $1100 a month. Featuring a large addition that provides extra storage and room for the creative investor to add value. Located near shopping and highways and offers immediate cash flow. Add this great property to your portfolio today. Want to purchase a complete portfolio in the same location, ask about our other listings on same block. Showings after accepted offer.

16. 2026-03-26
    listed $80,000 Active 530-char remark

    Show marketing remark (530 chars)

    Attention savvy Investor!! Four bedroom, One bath home offers a great opportunity in a prime location near the edge of Cornerstone Village. Currently rented for $1100 a month. Featuring a large addition that provides extra storage and room for the creative investor to add value. Located near shopping and highways and offers immediate cash flow. Add this great property to your portfolio today. Want to purchase a complete portfolio in the same location, ask about our other listings on same block. Showings after accepted offer.

17. 2025-06-04
    historical
18. 2025-06-04
    historical
19. 2025-04-22
    status Active
20. 2025-04-21
    historical
21. 2025-03-03
    listed $87,000 Active
22. 2025-02-18
    listed $87,000 Active
23. 2022-04-14
    soldstatus $52,500
24. 2022-04-13
    historical
25. 2022-03-30
    historical
26. 2022-03-18
    status Active
27. 2022-03-02
    historical
28. 2022-02-14
    listed $65,000 Active
29. 2022-02-14
    listed $65,000 Active
30. 2021-12-01
    historical
31. 2021-12-01
    historical
32. 2021-07-27
    listed $65,000 Active
33. 2021-07-27
    listed $65,000 Active
34. 2021-07-27
    historical
35. 2021-07-27
    historical
36. 2012-03-29
    soldstatus $1,545
37. 2012-03-29
    soldstatus $1,545
38. 2012-02-14
    historical
39. 2012-02-14
    historical
40. 2012-02-03
    listed $1,000
41. 2012-02-03
    listed $1,000

ⓘ 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: $1,584 · $132/mo
• Projected year-2 tax: $1,584 · $132/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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,621
• − Mortgage interest: −$4,341
• − Property taxes: −$1,584
• − Insurance: −$388
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$2,255
• Taxable income: $6,234
• Est. tax owed @ 24.0%: −$1,496
• After-tax cash flow: $5,576/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · 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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+7900.0% since first listed

27 events — show timeline

• 2026-03-26 Listed $80,000 REALCOMP
• 2026-03-26 Listed $80,000 MiRealSource-MiMLS
• 2025-06-04 Listing Removed — REALCOMP
• 2025-06-04 Listing Removed — MiRealSource-MiMLS
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-03-03 Listed $87,000 MiRealSource-MiMLS
• 2025-02-18 Listed $87,000 REALCOMP
• 2022-04-14 Sold (Public Records) $52,500 Public Records
• 2022-04-13 Listing Removed — MiRealSource-MiMLS
• 2022-03-30 Listing Removed — REALCOMP
• 2022-03-18 Relisted — REALCOMP
• 2022-03-02 Listing Removed — REALCOMP
• 2022-02-14 Listed $65,000 MiRealSource-MiMLS
• 2022-02-14 Listed $65,000 REALCOMP
• 2021-12-01 Listing Removed — MiRealSource-MiMLS
• 2021-12-01 Listing Removed — REALCOMP
• 2021-07-27 Listed $65,000 MiRealSource-MiMLS
• 2021-07-27 Listed $65,000 REALCOMP
• 2021-07-27 Coming Soon — MiRealSource-MiMLS
• 2021-07-27 Coming Soon — REALCOMP
• 2012-03-29 Sold (MLS) $1,545 REALCOMP
• 2012-03-29 Sold (MLS) $1,545 MiRealSource-MiMLS
• 2012-02-14 Listing Removed — REALCOMP
• 2012-02-14 Listing Removed — MiRealSource-MiMLS
• 2012-02-03 Listed $1,000 REALCOMP
• 2012-02-03 Listed $1,000 MiRealSource-MiMLS

Property tax history

+1.3%/yr

Latest (2025): $1,584 · -54.1% YoY. Source: county tax records.