19238 Mitchell St · Detroit, MI 48234

$34,999

2 bd · 1.0 ba · 886 sqft · SingleFamily public records · 4 Days on market

Built 1926 3,049 sqft lot Est $40k · 12% under

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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
• ARV discount +13.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in Metro Detroit. Need TLC and update. Owner occupies. Need 24 hours' notice before showing.

Key facts

• 3,049 sq ft lot
• Built 1926
• Listed 4 days

Tags

• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 31.5% 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 (+6.7%/yr); 226 active listings in the ZIP; 28 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 42% of the median local income ($35k/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 $242 of loan paydown is wiped out by about $1k 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 + 6.7% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,999

Questions for the listing agent

1. Built in 1926 — 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. 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.
6. 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.
7. 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: 3.53% ✓
• Cap rate: 31.50%
• Cash-on-cash: 90.03%
• DSCR: 5.01
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $39,870
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18877 Fleming St	0.44mi	2/1.0	870 (-2%)	3mo	$9,900	$11	74
19619 Norwood St	0.32mi	3/1.0 (+1)	941 (+6%)	2mo	$30,500	$32	68
19227 Ryan Rd	0.44mi	3/1.0 (+1)	919 (+4%)	1mo	$38,000	$41	67
19300 Binder St	0.42mi	2/1.0	820 (-7%)	4mo	$10,000	$12	65
17955 Charest St	0.65mi	3/1.0 (+1)	880 (-1%)	4mo	$51,800	$59	60
20012 Binder St	0.63mi	3/1.0 (+1)	871 (-2%)	3mo	$50,500	$58	60
18128 Fleming St	0.62mi	2/1.0	950 (+7%)	1mo	$21,500	$23	58
20180 Charest St	0.61mi	3/1.0 (+1)	840 (-5%)	4mo	$45,000	$54	54
18547 Anglin St	0.44mi	3/1.0 (+1)	1,000 (+13%)	6mo	$93,000	$93	48
19675 Binder St	0.47mi	3/1.0 (+1)	1,000 (+13%)	6mo	$29,000	$29	46
18905 Dean St	0.53mi	3/1.0 (+1)	990 (+12%)	6mo	$88,900	$90	46
19392 Justine St	0.70mi	3/1.0 (+1)	1,000 (+13%)	3mo	$45,000	$45	38

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 94.9%
• Equity multiple: 5.69×
• Total profit: $45,976
• Equity at exit: $5,218

10-year hold

• IRR: 98.4%
• Equity multiple: 13.42×
• Total profit: $121,684
• Equity at exit: $3,026

Cash invested: $9,800 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $735

Break-even live

Break-even rent $306

Max offer price $34,999

Occupancy floor 36%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.23mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	14d	1	0.31mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	0.31mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.32mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.51mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.57mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	0.62mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.64mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	0.65mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	17d	1	0.66mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	0.69mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	4d	1	0.95mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.00mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.09mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	23d	1	1.10mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	1.11mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.14mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.18mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	1.19mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	1.19mi
3974 Berkshire Ave Warren, MI	1.0	1.0	900	$1,500	$1.67	2d	1	1.24mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	21d	1	1.36mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	43d	1	1.36mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	1.37mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.43mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.49mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	1.49mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	17d	1	1.50mi

Listing history 5 events

1. 2024-12-17
   status Pending
2. 2024-10-15
   status Pending

   Show marketing remark (121 chars)

   Great investment opportunity in Metro Detroit. Need TLC and update. Owner occupies. Need 24 hours' notice before showing.

3. 2024-10-15
   status Pending 121-char remark

   Show marketing remark (121 chars)

   Great investment opportunity in Metro Detroit. Need TLC and update. Owner occupies. Need 24 hours' notice before showing.

4. 2024-10-11
   listed $34,999 Active

   Show marketing remark (121 chars)

   Great investment opportunity in Metro Detroit. Need TLC and update. Owner occupies. Need 24 hours' notice before showing.

5. 2024-10-11
   listed $34,999 Active 121-char remark

   Show marketing remark (121 chars)

   Great investment opportunity in Metro Detroit. Need TLC and update. Owner occupies. Need 24 hours' notice before showing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,842
• − Mortgage interest: −$1,960
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$1,018
• Taxable income: $8,789
• Est. tax owed @ 24.0%: −$2,109
• After-tax cash flow: $6,713/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

5 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-10-15 Pending — REALCOMP
• 2024-10-15 Pending — MiRealSource-MiMLS
• 2024-10-11 Listed $34,999 MiRealSource-MiMLS
• 2024-10-11 Listed $34,999 REALCOMP

Property tax history

+1.2%/yr

Latest (2025): $1,807 · +215.2% YoY. Source: county tax records.