16601 Wormer St · Detroit, MI 48219

$79,900

3 bd · 1.0 ba · 968 sqft · SingleFamily public records · 38 Days on market

Built 1955 6,970 sqft lot $83/sqft · 12% below area Est $91k · 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 +13.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bdrm 1 bath home with basement and 2 car garage * * * * Equal housing opportunity * * * * *

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding
• Exterior features: Paved road access; Lot approximately 0.16 acres (47 x 150)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 10.0% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+8.0%/yr); 309 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 35% of the median local income ($44k/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 $552 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 30y 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 $4k; list at $80k implies a 1898% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1955 — 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: 1.57% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.20%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (median comp): $91,280
• List price: $79,900
• Delta: -12.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16841 Winston St	0.24mi	3/1.0	954 (-1%)	4mo	$95,500	$100	83
16230 Winston St	0.22mi	3/1.0	917 (-5%)	1mo	$80,000	$87	80
16565 Woodbine St	0.07mi	3/1.0	1,105 (+14%)	2mo	$110,000	$100	72
17324 Salem St	0.50mi	2/1.0 (-1)	954 (-1%)	2mo	$74,900	$79	67
15512 Dixie	0.57mi	3/1.0	924 (-4%)	4mo	$130,000	$141	63
15490 Dixie	0.59mi	3/1.0	912 (-6%)	2mo	$135,000	$148	61
17630 Brady	0.73mi	3/1.0	916 (-5%)	1mo	$164,000	$179	56
16618 Salem St	0.26mi	2/1.0 (-1)	833 (-14%)	4mo	$47,500	$57	56
16165 W Parkway St	0.65mi	3/1.0	1,022 (+6%)	5mo	$50,000	$49	56
25012 Midland	0.54mi	2/1.0 (-1)	900 (-7%)	4mo	$85,000	$94	55
17727 Woodbine St	0.71mi	3/1.5	850 (-12%)	0mo	$58,000	$68	44
15478 Lola Dr	0.66mi	4/1.0 (+1)	1,100 (+14%)	2mo	$800,000	$727	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 1.95×
• Total profit: $21,261
• Equity at exit: $11,913

10-year hold

• IRR: 33.0%
• Equity multiple: 4.77×
• Total profit: $84,277
• Equity at exit: $6,908

Cash invested: $22,372 (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

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 309
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$419
• Tax from tax record: −$107 /mo · $1,280/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $433

Break-even live

Break-even rent $708

Max offer price $79,900

Occupancy floor 61%

Sensitivity live

Price	-10% $478	-5% $455	+0% $433	+5% $410	+10% $387
Rent	-10% $333	-5% $383	+0% $433	+5% $482	+10% $532
Rate	-1.0pp $473	-0.5pp $453	base $433	+0.5pp $412	+1.0pp $391

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	45d	1	0.02mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	19d	1	0.09mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	6d	1	0.17mi
16800 Telegraph Rd Detroit, MI	2.0	1.0	775	$875	$1.13	45d	1	0.21mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	19d	1	0.30mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	26d	1	0.49mi
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	6d	1	0.60mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	45d	1	0.84mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	26d	1	0.90mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	6d	1	0.90mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	18d	1	1.02mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	14d	1	1.13mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	45d	1	1.18mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	45d	3	1.24mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	26d	1	1.37mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	26d	1	1.38mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	1.40mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	45d	1	1.40mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	45d	1	1.46mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.46mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	45d	1	1.47mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	18d	1	1.47mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.48mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	26d	2	1.48mi
14292 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.49mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	18d	1	1.49mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	45d	2	1.49mi
14286 Riverview St Unit HF Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.50mi
14298 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.50mi
14300 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.50mi
14302 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.50mi
14294 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.50mi
14296 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.50mi

Listing history 41 events

1. 2026-06-21
   days on market $79,900 Active 38 DOM
2. 2026-06-18
   days on market $79,900 Active 35 DOM
3. 2026-06-17
   days on market $79,900 Active 34 DOM
4. 2026-06-15
   days on market $79,900 Active 32 DOM
5. 2026-06-13
   days on market $79,900 Active 30 DOM
6. 2026-06-13
   days on market $79,900 Active 29 DOM
7. 2026-06-09
   days on market $79,900 Active 26 DOM
8. 2026-06-08
   days on market $79,900 Active 25 DOM
9. 2026-06-07
   days on market $79,900 Active 24 DOM
10. 2026-06-04
    days on market $79,900 Active 21 DOM
11. 2026-06-03
    days on market $79,900 Active 20 DOM
12. 2026-06-02
    days on market $79,900 Active 19 DOM
13. 2026-06-01
    days on market $79,900 Active 18 DOM
14. 2026-05-31
    days on market $79,900 Active 17 DOM
15. 2026-05-14
    listed $79,900 Active 101-char remark

    Show marketing remark (101 chars)

    3 bdrm 1 bath home with basement and 2 car garage * * * * Equal housing opportunity * * * * *

16. 2026-05-14
    listed $79,900 Active 101-char remark

    Show marketing remark (101 chars)

    3 bdrm 1 bath home with basement and 2 car garage * * * * Equal housing opportunity * * * * *

17. 2025-03-14
    historical $1,200
18. 2025-03-12
    listed $1,200
19. 2025-03-12
    historical $1,200
20. 2025-03-07
    listed $1,200
21. 2009-03-23
    soldstatus $4,000

    Show marketing remark (404 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, lbp, Avail & Owner Occupant Incentives see Website in Agt Remarks * . FHA Case #261-820302. Insured w Escrow repairs $2,750. Bids due by 8-26-08 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property & isn't liable for the potentially harmful effects thereof.

22. 2008-08-22
    listed $37,500

    Show marketing remark (404 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, lbp, Avail & Owner Occupant Incentives see Website in Agt Remarks * . FHA Case #261-820302. Insured w Escrow repairs $2,750. Bids due by 8-26-08 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property & isn't liable for the potentially harmful effects thereof.

23. 2008-08-08
    historical
24. 2008-05-09
    listed $45,000
25. 2008-04-08
    historical
26. 2008-04-03
    historical
27. 2008-01-28
    historical
28. 2007-12-28
    listed $75,000
29. 2007-12-28
    listed $64,171
30. 2007-02-15
    listed $75,000
31. 2007-02-15
    listed $75,000
32. 2003-05-08
    soldstatus $82,000
33. 2002-09-08
    soldstatus $82,000
34. 2002-06-21
    listed $79,900
35. 1999-04-05
    soldstatus $65,500
36. 1998-11-17
    listed $65,500
37. 1998-11-01
    historical
38. 1998-08-01
    listed $72,900
39. 1997-04-28
    soldstatus $53,900
40. 1996-12-23
    soldstatus $53,900
41. 1996-09-30
    listed $53,900

ⓘ 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: $1,280 · $107/mo
• Projected year-2 tax: $1,280 · $107/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 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: $15,062
• − Mortgage interest: −$4,476
• − Property taxes: −$1,280
• − Insurance: −$400
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$2,324
• Taxable income: $4,172
• Est. tax owed @ 24.0%: −$1,001
• After-tax cash flow: $4,190/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

+48.2% since first listed

27 events — show timeline

• 2026-05-14 Listed $79,900 REALCOMP
• 2026-05-14 Listed $79,900 MiRealSource-MiMLS
• 2025-03-14 Rental Removed $1,200 REALSOURCE
• 2025-03-12 Listed for Rent $1,200 REALSOURCE
• 2025-03-12 Rental Removed $1,200 REALCOMP
• 2025-03-07 Listed for Rent $1,200 REALCOMP
• 2009-03-23 Sold (MLS) $4,000 REALCOMP
• 2008-08-22 Listed $37,500 REALCOMP
• 2008-08-08 Listing Removed — REALCOMP
• 2008-05-09 Listed $45,000 REALCOMP
• 2008-04-08 Listing Removed — MiRealSource-MiMLS
• 2008-04-03 Listing Removed — REALCOMP
• 2008-01-28 Listing Removed — MiRealSource-MiMLS
• 2007-12-28 Listed $64,171 REALCOMP
• 2007-12-28 Listed $75,000 MiRealSource-MiMLS
• 2007-02-15 Listed $75,000 REALCOMP
• 2007-02-15 Listed $75,000 MiRealSource-MiMLS
• 2003-05-08 Sold (Public Records) $82,000 Public Records
• 2002-09-08 Sold (MLS) $82,000 REALCOMP
• 2002-06-21 Listed $79,900 REALCOMP
• 1999-04-05 Sold (MLS) $65,500 REALCOMP
• 1998-11-17 Listed $65,500 REALCOMP
• 1998-11-01 Listing Removed — REALCOMP
• 1998-08-01 Listed $72,900 REALCOMP
• 1997-04-28 Sold (Public Records) $53,900 Public Records
• 1996-12-23 Sold (MLS) $53,900 REALCOMP
• 1996-09-30 Listed $53,900 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $1,280 · -47.2% YoY. Source: county tax records.