18635 Saint Louis St · Detroit, MI 48234

$5,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 107 Days on market

Built 1926 4,792 sqft lot ↓ 36% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

Key facts

• Bonus room
• 35 x 140 lot
• 4,792 sq ft lot

Tags

• KERN HEIGHTS SUBDIVISION
• 35 X 140 LOT
• BONUS ROOM

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$54,912) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $983 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $5k).
• Recommended offer: $5k (9.0% below list) — sets the bar for market timing.
• Cap rate 242.1% 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: 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.
• Zoned schools: Mason Academy (381 students, 92% FRL); Clippert Academy (379 students, 82% FRL); Pershing High School (math 10% / reading 10%, grade F, #659 of 713 statewide, top 97%, 408 students, 89% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 227 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 44% 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 $35 of loan paydown is wiped out by about $150 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 $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($5k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (55%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $4,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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?
8. 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.
9. 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.
10. 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: 25.75% ✓
• Cap rate: 242.11%
• Cash-on-cash: 842.19%
• DSCR: 38.47
• GRM: 0.3

CMA / ARV

• ARV (on-the-fly): $54,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19351 Dwyer St	0.41mi	3/1.0	971 (-8%)	6mo	$120,000	$124	62
19608 Buffalo St	0.67mi	3/1.0	1,014 (-4%)	1mo	$68,000	$67	61
18818 Sherwood St	0.37mi	3/1.0	940 (-11%)	6mo	$38,000	$40	59
19161 Rogge St	0.61mi	3/1.0	1,001 (-5%)	8mo	$46,500	$46	57
19400 Dwyer St	0.46mi	3/1.5	960 (-9%)	8mo	$50,000	$52	55
19442 Moenart St	0.71mi	3/1.5	1,145 (+8%)	2mo	$74,999	$66	49
17178 Gable St	0.71mi	3/1.0	1,166 (+10%)	2mo	$17,000	$15	48
7505 E Robinwood St	0.68mi	4/2.0 (+1)	1,000 (-5%)	3mo	$140,500	$141	48
18800 Fenelon St	0.65mi	3/1.0	1,173 (+11%)	7mo	$50,000	$43	45
19162 Conley St	0.67mi	2/1.0 (-1)	954 (-10%)	7mo	$47,500	$50	42
6744 Brimson St	0.74mi	3/1.0	910 (-14%)	1mo	$45,000	$49	42
6721 Buhr St	0.57mi	2/2.0 (-1)	1,212 (+15%)	1mo	$95,000	$78	39

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: —
• Equity multiple: 48.71×
• Total profit: $66,787
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 115.97×
• Total profit: $160,964
• Equity at exit: $432

Cash invested: $1,400 (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: 227
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,287 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $983

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 19%

Sensitivity live

Price	-10% $986	-5% $984	+0% $983	+5% $981	+10% $979
Rent	-10% $881	-5% $932	+0% $983	+5% $1,033	+10% $1,084
Rate	-1.0pp $985	-0.5pp $984	base $983	+0.5pp $981	+1.0pp $980

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	45d	1	0.47mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	0.47mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	26d	1	0.49mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	45d	1	0.53mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	18d	1	0.55mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,250	$1.09	0d	1	0.55mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	6d	1	0.56mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.64mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	0.68mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	0.68mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	0.68mi
19682 Rogge St Detroit, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	0.81mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,000	$1.18	0d	1	0.84mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	0.86mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	18d	1	0.98mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	45d	1	1.01mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	19d	1	1.05mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	18d	1	1.07mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	18d	1	1.30mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	26d	1	1.31mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	1.43mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	45d	1	1.43mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.47mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	26d	1	1.49mi

Listing history 10 events

1. 2026-04-27
   status Pending

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

2. 2026-04-27
   status Pending 190-char remark

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

3. 2026-03-30
   price $5,000 190-char remark

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

4. 2026-03-30
   price $5,000

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

5. 2026-02-10
   price $8,900 190-char remark

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

6. 2026-02-10
   price $8,900

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

7. 2026-01-10
   listed $11,000 Active

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

8. 2026-01-10
   listed $11,000 Active 190-char remark

   Show marketing remark (190 chars)

   THIS IS A FANNIE MAE HOME PATH PROPERTY. 1056 SQ. FT 2 STORY COLONIAL , LOCATED IN KERN HEIGHTS SUBDIVISION. HOME HAS 35 X 140 LOT AND AN ADDITIONAL BONUS ROOM OF 42 X 20 ON THE UPPER LEVEL.

9. 1994-12-29
   soldstatus $7,800
10. 1992-10-06
    soldstatus $7,800

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $15,450
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$145
• Taxable income: $12,452
• Est. tax owed @ 24.0%: −$2,989
• After-tax cash flow: $8,802/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

-35.9% since first listed

10 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-03-30 Price Changed $5,000 MiRealSource-MiMLS
• 2026-03-30 Price Changed $5,000 REALCOMP
• 2026-02-10 Price Changed $8,900 MiRealSource-MiMLS
• 2026-02-10 Price Changed $8,900 REALCOMP
• 2026-01-10 Listed $11,000 REALCOMP
• 2026-01-10 Listed $11,000 MiRealSource-MiMLS
• 1994-12-29 Sold (Public Records) $7,800 Public Records
• 1992-10-06 Sold (Public Records) $7,800 Public Records

Property tax history

-4.5%/yr

Latest (2025): $421 · -10.5% YoY. Source: county tax records.