18844 Syracuse St · Detroit, MI 48234

$89,900

3 bd · 1.0 ba · 688 sqft · SingleFamily public records · 20 Days on market

Built 1923 3,920 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• 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

Welcome to your dream home!!! This beautifully remodeled property has been transformed from top to bottom, the entire house has been freshly painted and adorned with modern flooring and carpet throughout. The kitchen features new countertop, new lights fixtures, new cabinets and new sink. The bathroom boasts a new bathtub, new flooring, a chic vanity, new matching light fixtures, a closet, and a new toilet. All bedrooms are adorned with new light fixtures, new carpet and convenient closet space. The basement features freshly painted walls and floor. The outdoor charm continues with a redone porch creating an inviting entryway, spacious backyard that can be fenced for added privacy. The house has a new roof, and gutters providing peace of mind. This home is truly move-in ready and offers the perfect blend of convenience and charm. !!! PROPERTY IS UNDER SURVEILLANCE SYSTEM. All measurements are estimated.

Key facts

• New bathtub
• New cabinets
• Chic vanity

Tags

• REMODELED PROPERTY
• NEW COUNTERTOP
• NEW CABINETS
• NEW SINK
• NEW BATHTUB
• CHIC VANITY

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Vinyl siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 35 x 112 (0.09 acre)

Interior

• Bedrooms: Total of 6 rooms (bedrooms and living areas combined)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 41% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $10k; list at $90k implies a 756% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 1.33% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.41%
• DSCR: 1.86
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $46,784
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19436 Albany St	0.40mi	3/1.0	725 (+5%)	6mo	$17,000	$23	68
19612 Dwyer St	0.50mi	2/1.0 (-1)	740 (+8%)	2mo	$50,000	$68	57
18116 Bloom St	0.34mi	3/1.0	720 (+5%)	23mo	$87,000	$121	57
18677 Fenelon St	0.41mi	2/1.0 (-1)	682 (-1%)	22mo	$41,000	$60	57
19676 Conley St	0.60mi	2/1.0 (-1)	720 (+5%)	9mo	$50,000	$69	52
19200 Shields St	0.73mi	3/1.0	742 (+8%)	15mo	$64,500	$87	40
19226 Eureka St	0.63mi	2/1.0 (-1)	731 (+6%)	20mo	$15,000	$21	38
18084 Justine St	0.73mi	2/1.0 (-1)	591 (-14%)	20mo	$20,000	$34	21

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: 15.2%
• Equity multiple: 1.63×
• Total profit: $15,966
• Equity at exit: $13,404

10-year hold

• IRR: 26.3%
• Equity multiple: 3.69×
• Total profit: $67,714
• Equity at exit: $7,773

Cash invested: $25,172 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$28 /mo · $341/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $407

Break-even live

Break-even rent $680

Max offer price $89,900

Occupancy floor 61%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	17d	1	0.75mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.98mi
18475 Wexford St Unit 1 Detroit, MI	2.0	1.0	500	$950	$1.90	24d	1	1.03mi

Listing history 13 events

1. 2026-06-18
   days on market $89,900 Active 20 DOM
2. 2026-06-17
   days on market $89,900 Active 19 DOM
3. 2026-06-15
   days on market $89,900 Active 17 DOM
4. 2026-06-13
   days on market $89,900 Active 15 DOM
5. 2026-06-13
   days on market $89,900 Active 14 DOM
6. 2026-06-09
   days on market $89,900 Active 11 DOM
7. 2026-06-08
   days on market $89,900 Active 10 DOM
8. 2026-06-07
   days on market $89,900 Active 9 DOM
9. 2026-06-04
   days on market $89,900 Active 6 DOM
10. 2026-06-03
    days on market $89,900 Active 5 DOM
11. 2026-06-02
    days on market $89,900 Active 4 DOM
12. 2026-06-01
    days on market $89,900 Active 3 DOM
13. 2026-05-31
    days on market $89,900 Active 2 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: $341 · $28/mo
• Projected year-2 tax: $863 · $72/mo
• Expected delta: +$522/yr (+$43/mo · 153.0%)

ⓘ 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 ≥97°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: $14,345
• − Mortgage interest: −$5,036
• − Property taxes: −$341
• − Insurance: −$450
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$2,615
• Taxable income: $3,608
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $4,019/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

+6.5% since first listed

11 events — show timeline

• 2026-05-29 Listed $89,900 MiRealSource-MiMLS
• 2026-05-29 Listed $89,900 REALCOMP
• 2025-12-10 Listing Removed — MiRealSource-MiMLS
• 2025-11-12 Price Changed $89,900 MiRealSource-MiMLS
• 2025-11-11 Price Changed $89,900 REALCOMP
• 2025-10-06 Price Changed $99,900 MiRealSource-MiMLS
• 2025-10-06 Price Changed $99,900 REALCOMP
• 2025-09-09 Listed $109,900 REALCOMP
• 2025-09-09 Listed $109,900 MiRealSource-MiMLS
• 1996-05-28 Sold (Public Records) $10,500 Public Records
• 1991-09-13 Sold (Public Records) $84,389 Public Records

Property tax history

+1.0%/yr

Latest (2025): $341 · +42.1% YoY. Source: county tax records.