18155 Greeley St · Detroit, MI 48203

$41,900

2 bd · 1.0 ba · 1,034 sqft · SingleFamily public records · 33 Days on market

Built 1926 4,356 sqft lot $41/sqft · 8% below area Est $45k · 8% under ↓ 16% since listing

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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 +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good investment opportunity on this 2 bedrrom ranch with long term tenant, Close to schools, shopping and transportation. Measurements are estimated.

Key facts

• Close to schools
• Close to shopping
• 4,356 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.9% 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: 216 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 38% of the median local income ($38k/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 $290 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 + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y 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 $40,643 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.91% ✓
• Cap rate: 24.92%
• Cash-on-cash: 66.54%
• DSCR: 3.96
• GRM: 2.9

CMA / ARV

• ARV (median comp): $45,455
• List price: $41,900
• Delta: -7.82%
• 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
17569 Orleans St	0.33mi	3/1.0 (+1)	1,002 (-3%)	6mo	$85,000	$85	69
19163 Orleans St	0.46mi	2/1.0	1,080 (+4%)	2mo	$32,500	$30	69
18134 Dequindre St	0.28mi	3/2.0 (+1)	993 (-4%)	8mo	$109,999	$111	65
18128 Fleming St	0.45mi	2/1.0	950 (-8%)	1mo	$21,500	$23	64
17888 Marx St	0.28mi	3/1.0 (+1)	937 (-9%)	2mo	$34,000	$36	64
17489 Saint Aubin St	0.47mi	3/1.0 (+1)	1,072 (+4%)	6mo	$70,000	$65	62
17138 Marx St	0.62mi	3/1.0 (+1)	1,089 (+5%)	2mo	$26,500	$24	56
18547 Anglin St	0.66mi	3/1.0 (+1)	1,000 (-3%)	6mo	$93,000	$93	54
19181 Marx St	0.50mi	3/1.0 (+1)	1,152 (+11%)	1mo	$40,500	$35	52
19145 Riopelle St	0.43mi	3/2.0 (+1)	1,152 (+11%)	2mo	$80,000	$69	50
709 E Margaret St	0.41mi	3/1.5 (+1)	913 (-12%)	7mo	$15,000	$16	49
19391 Saint Aubin St	0.71mi	3/1.0 (+1)	1,176 (+14%)	5mo	$19,000	$16	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.8%
• Equity multiple: 3.96×
• Total profit: $34,676
• Equity at exit: $6,247

10-year hold

• IRR: 70.1%
• Equity multiple: 8.13×
• Total profit: $83,679
• Equity at exit: $3,623

Cash invested: $11,732 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,219 high
• Mortgage (P&I): −$220
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $651

Break-even live

Break-even rent $396

Max offer price $41,900

Occupancy floor 42%

Sensitivity live

Price	-10% $674	-5% $662	+0% $651	+5% $639	+10% $627
Rent	-10% $554	-5% $602	+0% $651	+5% $699	+10% $747
Rate	-1.0pp $672	-0.5pp $661	base $651	+0.5pp $640	+1.0pp $629

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: $10,475
• Closing costs: $1,257
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.11mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.35mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.39mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.49mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	0.52mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.82mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.82mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.93mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.00mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.00mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	44d	1	1.04mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.04mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.16mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	25d	1	1.16mi
10 Ferris St Highland Park, MI	1.0	1.0	700	$725	$1.04	13d	1	1.18mi
10 Ferris St Unit 208/209 Highland Park, MI	1.0	1.0	700	$725	$1.04	21d	1	1.18mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.21mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	1.22mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.24mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.30mi
730 Whitmore Rd Detroit, MI	1.0–2.0	1.0	850	$850	$1.00	44d	3	1.36mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	1.41mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	1.42mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	1.46mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	25d	1	1.47mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	1.47mi
931 Covington Dr Unit 106 Highland Park, MI	1.0	2.0	1000	$1,275	$1.27	44d	1	1.50mi

Listing history 19 events

1. 2026-04-21
   listed $41,900 Active 149-char remark

   Show marketing remark (149 chars)

   Good investment opportunity on this 2 bedrrom ranch with long term tenant, Close to schools, shopping and transportation. Measurements are estimated.

2. 2026-04-21
   listed $41,900 Active 149-char remark

   Show marketing remark (149 chars)

   Good investment opportunity on this 2 bedrrom ranch with long term tenant, Close to schools, shopping and transportation. Measurements are estimated.

3. 2026-04-21
   listed $41,900 Active

   Show marketing remark (149 chars)

   Good investment opportunity on this 2 bedrrom ranch with long term tenant, Close to schools, shopping and transportation. Measurements are estimated.

4. 2025-09-01
   historical
5. 2025-08-31
   historical
6. 2025-02-25
   listed $45,900 Active
7. 2025-02-25
   listed $45,900 Active
8. 2024-10-23
   historical
9. 2024-10-23
   historical
10. 2024-08-28
    listed $49,900 Active
11. 2024-08-28
    listed $49,900 Active
12. 2024-01-01
    historical
13. 2024-01-01
    historical
14. 2023-10-31
    price $44,500
15. 2023-10-31
    price $44,500
16. 2023-08-31
    price $45,000
17. 2023-08-31
    price $45,000
18. 2023-03-09
    listed $50,000 Active
19. 2023-03-05
    listed $50,000 Active

ⓘ 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: $903 · $75/mo
• Projected year-2 tax: $903 · $75/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 ≥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: $14,628
• − Mortgage interest: −$2,347
• − Property taxes: −$903
• − Insurance: −$210
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$1,219
• Taxable income: $7,609
• Est. tax owed @ 24.0%: −$1,826
• After-tax cash flow: $5,980/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

-16.2% since first listed

19 events — show timeline

• 2026-04-21 Listed $41,900 SW Michigan MLS
• 2026-04-21 Listed $41,900 REALCOMP
• 2026-04-21 Listed $41,900 MiRealSource-MiMLS
• 2025-09-01 Listing Removed — MiRealSource-MiMLS
• 2025-08-31 Listing Removed — REALCOMP
• 2025-02-25 Listed $45,900 REALCOMP
• 2025-02-25 Listed $45,900 MiRealSource-MiMLS
• 2024-10-23 Listing Removed — MiRealSource-MiMLS
• 2024-10-23 Listing Removed — REALCOMP
• 2024-08-28 Listed $49,900 MiRealSource-MiMLS
• 2024-08-28 Listed $49,900 REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-10-31 Price Changed $44,500 MiRealSource-MiMLS
• 2023-10-31 Price Changed $44,500 REALCOMP
• 2023-08-31 Price Changed $45,000 MiRealSource-MiMLS
• 2023-08-31 Price Changed $45,000 REALCOMP
• 2023-03-09 Listed $50,000 REALCOMP
• 2023-03-05 Listed $50,000 MiRealSource-MiMLS

Property tax history

-4.2%/yr

Latest (2025): $903 · -53.6% YoY. Source: county tax records.