19712 Lahser Rd · Detroit, MI 48219 1837

$120,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 82 Days on market

Built 1950 4,356 sqft lot $105/sqft · 16% above area Est $104k · 16% over

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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 +17.1/30.0
• 1% rule +6.1/10.0
• DSCR +5.3/10.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.4/15.0

Listing remarks MLS

Great completely updated home awaits new owner. Current tenants are in eviction process, showings may be difficult. Can be combined in package deal. Batvai

Key facts

• 4,356 sq ft lot
• Built 1950
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Emerson Elementarymiddle School (519 students, 90% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 2 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• 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 $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 17y 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 $64k; list at $120k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 7.5

CMA / ARV

• ARV (median comp): $103,742
• List price: $120,000
• Delta: 15.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21700 Pembroke Ave	0.13mi	3/1.0	1,089 (-5%)	3mo	$155,000	$142	84
20116 Greydale Ave	0.34mi	3/1.0	1,164 (+2%)	2mo	$149,500	$128	80
19795 Greydale Ave	0.08mi	3/1.5	1,247 (+9%)	4mo	$129,997	$104	76
19711 Chapel St	0.15mi	3/1.0	1,014 (-11%)	1mo	$120,000	$118	73
19411 Chapel St	0.20mi	3/1.0	1,014 (-11%)	5mo	$65,000	$64	68
20266 Greydale Ave	0.42mi	3/1.0	1,072 (-6%)	3mo	$115,000	$107	67
20300 Chapel St	0.48mi	3/1.0	1,043 (-9%)	1mo	$122,500	$117	62
19212 Northrop St	0.33mi	3/1.0	981 (-14%)	2mo	$65,000	$66	59
20224 Redfern St	0.50mi	3/1.5	1,020 (-11%)	5mo	$140,000	$137	52
19211 Pierson St	0.59mi	3/1.0	1,272 (+11%)	2mo	$69,000	$54	52
18970 Bentler St	0.57mi	3/1.0	1,020 (-11%)	5mo	$21,000	$21	52
20089 Trinity St	0.51mi	3/2.0	1,025 (-10%)	4mo	$201,349	$196	51

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: 10.3%
• Equity multiple: 1.59×
• Total profit: $19,883
• Equity at exit: $53,957

10-year hold

• IRR: 12.7%
• Equity multiple: 2.89×
• Total profit: $63,483
• Equity at exit: $83,154

Cash invested: $33,600 (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 48219 1837

• Active inventory: 2
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$629
• Tax from tax record: −$287 /mo · $3,443/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $84

Break-even live

Break-even rent $1,223

Max offer price $120,000

Occupancy floor 89%

Sensitivity live

Price	-10% $152	-5% $118	+0% $84	+5% $50	+10% $16
Rent	-10% $-21	-5% $31	+0% $84	+5% $136	+10% $189
Rate	-1.0pp $144	-0.5pp $114	base $84	+0.5pp $52	+1.0pp $21

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19928 Houghton St Detroit, MI	3.0	1.0	880	$1,495	$1.70	12d	1	0.20mi
21422 Pembroke Ave Detroit, MI	3.0	1.5	1000	$1,695	$1.70	18d	1	0.22mi
22238 Pembroke Ave Detroit, MI	3.0	1.5	1100	$1,500	$1.36	45d	1	0.23mi
19810 Blackstone St Detroit, MI	3.0	1.0	1216	$1,395	$1.15	45d	1	0.37mi
22649 Frisbee St Detroit, MI	3.0	1.0	1100	$1,495	$1.36	45d	1	0.47mi
20555 Lahser Rd Detroit, MI	1.0–2.0	1.0	737	$975	$1.32	45d	2	0.50mi
19800 Berg Rd Detroit, MI	3.0	1.0	1000	$1,550	$1.55	18d	1	0.50mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	45d	1	0.55mi
19781 Fielding St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	6d	1	0.68mi
20079 Patton St Detroit, MI	3.0	1.0	1150	$1,550	$1.35	6d	1	0.71mi
47129 Wedgewood Southfield, MI	1.0–2.0	1.0–2.0	1000	$1,275	$1.27	45d	1	0.77mi
21455 Pickford St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	0.78mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	45d	2	0.81mi
21434 Karl St Detroit, MI	2.0	1.0	1000	$1,350	$1.35	45d	1	0.82mi
18437 Trinity St Detroit, MI	3.0	1.0	875	$1,364	$1.56	16d	1	0.82mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	45d	1	0.93mi
23411 W Eight Mile Rd Detroit, MI	1.0–2.0	1.0	742	$1,000	$1.35	45d	1	0.93mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	26d	1	0.96mi
19457 Evergreen Rd Detroit, MI	2.0	1.0	1100	$1,200	$1.09	45d	1	0.96mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	18d	1	0.97mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	26d	1	1.00mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	26d	1	1.01mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	1.01mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	1.02mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	26d	1	1.02mi
18556 Kentfield St Detroit, MI	3.0	1.0	952	$1,250	$1.31	4d	1	1.02mi
19367 Plainview Ave Detroit, MI	3.0	2.0	1208	$1,400	$1.16	0d	1	1.03mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	18d	1	1.06mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	18d	1	1.06mi
18461 Heyden St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	6d	1	1.10mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	26d	1	1.12mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	45d	1	1.19mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	26d	1	1.21mi
17355 McIntyre St Detroit, MI	3.0	1.0	1500	$1,250	$0.83	45d	1	1.24mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.25mi
20284 Melrose St Southfield, MI	3.0	1.0	1200	$1,550	$1.29	45d	1	1.26mi
17328 McIntyre St Unit 2 Detroit, MI	3.0	1.0	1200	$1,250	$1.04	45d	1	1.27mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.27mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	26d	2	1.27mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	13d	1	1.29mi

Listing history 50 events

1. 2026-06-18
   days on marketlisting id $120,000 Active 82 DOM
2. 2026-06-18
   days on market $120,000 Active 83 DOM
3. 2026-06-17
   days on market $120,000 Active 82 DOM
4. 2026-06-15
   days on market $120,000 Active 80 DOM
5. 2026-06-13
   days on market $120,000 Active 78 DOM
6. 2026-06-13
   days on market $120,000 Active 77 DOM
7. 2026-06-09
   days on market $120,000 Active 74 DOM
8. 2026-06-08
   days on market $120,000 Active 73 DOM
9. 2026-06-07
   days on market $120,000 Active 72 DOM
10. 2026-06-04
    days on market $120,000 Active 69 DOM
11. 2026-06-03
    days on market $120,000 Active 68 DOM
12. 2026-06-02
    days on market $120,000 Active 67 DOM
13. 2026-06-01
    days on market $120,000 Active 66 DOM
14. 2026-05-31
    days on market $120,000 Active 65 DOM
15. 2026-03-27
    listed $120,000 Active 155-char remark

    Show marketing remark (155 chars)

    Great completely updated home awaits new owner. Current tenants are in eviction process, showings may be difficult. Can be combined in package deal. Batvai

16. 2026-03-27
    listed $120,000 Active 155-char remark

    Show marketing remark (155 chars)

    Great completely updated home awaits new owner. Current tenants are in eviction process, showings may be difficult. Can be combined in package deal. Batvai

17. 2026-02-01
    historical
18. 2026-02-01
    historical
19. 2026-01-07
    price $100,000
20. 2026-01-06
    price $100,000
21. 2025-12-20
    price $115,000
22. 2025-12-19
    price $115,000
23. 2025-08-20
    listed $130,000 Active
24. 2025-08-20
    listed $130,000 Active
25. 2025-08-18
    historical
26. 2025-08-18
    historical
27. 2025-06-15
    price $130,000
28. 2025-06-14
    price $130,000
29. 2025-05-31
    listed $150,000 Active
30. 2025-05-31
    listed $150,000 Active
31. 2025-05-16
    historical $1,250
32. 2025-04-30
    price $1,250
33. 2025-04-01
    historical $1,000
34. 2025-03-29
    listed $1,000
35. 2025-03-21
    historical
36. 2025-03-21
    historical
37. 2025-03-20
    listed $1,300
38. 2025-03-18
    price $148,500
39. 2025-03-17
    price $148,500
40. 2025-01-09
    historical $1,200
41. 2025-01-05
    price $149,000
42. 2025-01-04
    price $149,000
43. 2024-12-22
    listed $149,999 Active
44. 2024-12-21
    listed $149,999 Active
45. 2024-12-05
    price $1,200
46. 2024-11-24
    price $1,150
47. 2024-11-23
    listed $1,200
48. 2024-09-12
    soldstatus $64,000 Sold
49. 2024-09-12
    soldstatus $64,000 Closed
50. 2024-09-10
    status Pending

ⓘ 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: $3,443 · $287/mo
• Projected year-2 tax: $3,443 · $287/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 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,946
• − Mortgage interest: −$6,722
• − Property taxes: −$3,443
• − Insurance: −$600
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$3,491
• Taxable loss: −$861
• Est. tax savings @ 24.0%: +$207
• After-tax cash flow: $1,210/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+22.4% since first listed

58 events — show timeline

• 2026-03-27 Listed $120,000 REALCOMP
• 2026-03-27 Listed $120,000 MiRealSource-MiMLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2026-01-07 Price Changed $100,000 MiRealSource-MiMLS
• 2026-01-06 Price Changed $100,000 REALCOMP
• 2025-12-20 Price Changed $115,000 MiRealSource-MiMLS
• 2025-12-19 Price Changed $115,000 REALCOMP
• 2025-08-20 Listed $130,000 MiRealSource-MiMLS
• 2025-08-20 Listed $130,000 REALCOMP
• 2025-08-18 Listing Removed — MiRealSource-MiMLS
• 2025-08-18 Listing Removed — REALCOMP
• 2025-06-15 Price Changed $130,000 MiRealSource-MiMLS
• 2025-06-14 Price Changed $130,000 REALCOMP
• 2025-05-31 Listed $150,000 REALCOMP
• 2025-05-31 Listed $150,000 MiRealSource-MiMLS
• 2025-05-16 Rental Removed $1,250 APPFOLIO
• 2025-04-30 Price Changed $1,250 APPFOLIO
• 2025-04-01 Rental Removed $1,000 APPFOLIO
• 2025-03-29 Listed for Rent $1,000 APPFOLIO
• 2025-03-21 Listing Removed — REALCOMP
• 2025-03-21 Listing Removed — MiRealSource-MiMLS
• 2025-03-20 Listed for Rent $1,300 APPFOLIO
• 2025-03-18 Price Changed $148,500 MiRealSource-MiMLS
• 2025-03-17 Price Changed $148,500 REALCOMP
• 2025-01-09 Rental Removed $1,200 APPFOLIO
• 2025-01-05 Price Changed $149,000 MiRealSource-MiMLS
• 2025-01-04 Price Changed $149,000 REALCOMP
• 2024-12-22 Listed $149,999 REALCOMP
• 2024-12-21 Listed $149,999 MiRealSource-MiMLS
• 2024-12-05 Price Changed $1,200 APPFOLIO
• 2024-11-24 Price Changed $1,150 APPFOLIO
• 2024-11-23 Listed for Rent $1,200 APPFOLIO
• 2024-09-12 Sold (MLS) $64,000 MiRealSource-MiMLS
• 2024-09-12 Sold (MLS) $64,000 REALCOMP
• 2024-09-10 Pending — MiRealSource-MiMLS
• 2024-09-10 Pending — REALCOMP
• 2024-07-26 Listed $99,900 MiRealSource-MiMLS
• 2024-07-26 Listed $99,900 REALCOMP
• 2024-07-25 Coming Soon $99,900 MiRealSource-MiMLS
• 2024-07-25 Coming Soon $99,900 REALCOMP
• 2020-05-26 Sold (MLS) $41,000 MiRealSource-MiMLS
• 2020-05-26 Sold (MLS) $41,000 REALCOMP
• 2020-05-18 Pending — MiRealSource-MiMLS
• 2020-05-18 Pending — REALCOMP
• 2020-05-08 Listed $49,953 MiRealSource-MiMLS
• 2020-05-08 Listed $49,953 REALCOMP
• 2018-12-19 Listing Removed — REALCOMP
• 2018-12-19 Listing Removed — MiRealSource-MiMLS
• 2018-12-07 Price Changed $50,150 MiRealSource-MiMLS
• 2018-12-06 Price Changed $50,150 REALCOMP
• 2018-10-03 Listed $59,000 MiRealSource-MiMLS
• 2018-10-03 Listed $59,000 REALCOMP
• 2014-10-28 Sold (Public Records) $46,350 Public Records
• 2009-11-30 Sold (MLS) $9,000 REALCOMP
• 2009-08-15 Listing Removed — REALCOMP
• 2009-08-15 Listed $98,000 REALCOMP
• 2009-05-15 Listed $98,000 REALCOMP

Property tax history

+10.6%/yr

Latest (2025): $3,443 · +84.0% YoY. Source: county tax records.