18960 Hamburg St · Detroit, MI 48205

$55,950

2 bd · 1.0 ba · 1,359 sqft · SingleFamily public records · 45 Days on market

Built 1929 3,920 sqft lot $41/sqft · 20% below area Est $70k · 20% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom, 2 bathroom large brick bungalow on Detroit's east side. The home features 2 bedrooms on the first level with a full bathroom. The upper levels has 2 bedrooms with a bathroom. Home in need of repairs.

Key facts

• 3,920 sq ft lot
• Built 1929
• Listed 45 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot roughly 35 x 109 (0.09 acres)

Interior

• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $54k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.6% 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: Rents rising (+1.3%/yr); 373 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 39% of the median local income ($39k/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 $386 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 + 1.3% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 11y 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 $25k; list at $56k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,271 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1929 — 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: 2.28% ✓
• Cap rate: 19.64%
• Cash-on-cash: 47.67%
• DSCR: 3.12
• GRM: 3.7

CMA / ARV

• ARV (median comp): $69,649
• List price: $55,950
• Delta: -19.67%
• 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
19394 Barlow St	0.29mi	3/1.0 (+1)	1,350 (-1%)	9mo	$55,000	$41	73
19360 Strasburg St	0.26mi	3/1.5 (+1)	1,340 (-1%)	8mo	$105,000	$78	72
18903 Westphalia St	0.21mi	3/2.0 (+1)	1,250 (-8%)	8mo	$130,000	$104	61
18946 Beland St	0.64mi	2/1.0	1,306 (-4%)	4mo	$43,000	$33	60
19965 Barlow St	0.66mi	3/1.0 (+1)	1,342 (-1%)	9mo	$55,000	$41	54
18631 Fairport St	0.31mi	3/1.5 (+1)	1,173 (-14%)	6mo	$9,000	$8	51
17613 Rowe St	0.74mi	3/1.5 (+1)	1,391 (+2%)	6mo	$71,000	$51	49
13351 Tacoma St	0.70mi	2/1.0	1,521 (+12%)	2mo	$95,000	$62	46
18939 Teppert St	0.61mi	3/1.5 (+1)	1,468 (+8%)	9mo	$50,000	$34	43
19376 Pelkey St	0.62mi	3/1.5 (+1)	1,200 (-12%)	9mo	$69,900	$58	37
11935 E State Fair St	0.63mi	3/1.0 (+1)	1,179 (-13%)	8mo	$115,000	$98	37
19230 Mapleview St	0.69mi	3/2.0 (+1)	1,160 (-15%)	7mo	$65,000	$56	29

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 43.2%
• Equity multiple: 2.82×
• Total profit: $28,480
• Equity at exit: $8,342

10-year hold

• IRR: 48.5%
• Equity multiple: 5.31×
• Total profit: $67,543
• Equity at exit: $4,838

Cash invested: $15,666 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,277 high
• Mortgage (P&I): −$293
• Tax est. 1.5%: −$70 /mo · $839/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $622

Break-even live

Break-even rent $489

Max offer price $55,950

Occupancy floor 46%

Sensitivity live

Price	-10% $661	-5% $642	+0% $622	+5% $603	+10% $584
Rent	-10% $521	-5% $572	+0% $622	+5% $673	+10% $723
Rate	-1.0pp $651	-0.5pp $637	base $622	+0.5pp $608	+1.0pp $593

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: $13,988
• Closing costs: $1,678
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	0.13mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.14mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.30mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	0.36mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	18d	1	0.36mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.46mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	18d	1	0.48mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	44d	1	0.53mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	0.54mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.62mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	0.62mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.73mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.76mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.82mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	0.86mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.90mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	18d	1	0.92mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.98mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	0.99mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.01mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	1.13mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	1.13mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	1.14mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	1.14mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	1.17mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	1.17mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.19mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.20mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.21mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.22mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	1.23mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	1.25mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.33mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.37mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	44d	1	1.37mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	25d	1	1.41mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.46mi

Listing history 36 events

1. 2026-06-18
   days on market $55,950 Active 45 DOM
2. 2026-06-17
   days on market $55,950 Active 44 DOM
3. 2026-06-15
   days on market $55,950 Active 42 DOM
4. 2026-06-13
   days on market $55,950 Active 40 DOM
5. 2026-06-13
   days on market $55,950 Active 39 DOM
6. 2026-06-09
   days on market $55,950 Active 36 DOM
7. 2026-06-08
   days on market $55,950 Active 35 DOM
8. 2026-06-07
   days on market $55,950 Active 34 DOM
9. 2026-06-04
   days on market $55,950 Active 31 DOM
10. 2026-06-03
    days on market $55,950 Active 30 DOM
11. 2026-06-02
    days on market $55,950 Active 29 DOM
12. 2026-06-01
    days on market $55,950 Active 28 DOM
13. 2026-05-31
    days on market $55,950 Active 27 DOM
14. 2026-05-04
    listed $55,950 Active 210-char remark

    Show marketing remark (210 chars)

    4 bedroom, 2 bathroom large brick bungalow on Detroit's east side. The home features 2 bedrooms on the first level with a full bathroom. The upper levels has 2 bedrooms with a bathroom. Home in need of repairs.

15. 2026-05-04
    listed $55,950 Active 210-char remark

    Show marketing remark (210 chars)

    4 bedroom, 2 bathroom large brick bungalow on Detroit's east side. The home features 2 bedrooms on the first level with a full bathroom. The upper levels has 2 bedrooms with a bathroom. Home in need of repairs.

16. 2021-12-31
    price $1,100
17. 2021-02-27
    soldstatus $25,000
18. 2021-02-27
    listed $25,000
19. 2021-02-27
    listed $25,000
20. 2017-10-19
    soldstatus $17,000 Sold
21. 2017-10-14
    status Pending
22. 2017-10-14
    status Pending
23. 2017-10-10
    status Active
24. 2017-10-10
    status Active
25. 2017-10-09
    historical
26. 2017-09-25
    status Pending
27. 2017-09-25
    status Pending
28. 2017-08-28
    listed $15,000 Active
29. 2017-08-28
    listed $15,000 Active
30. 2016-01-03
    historical
31. 2015-11-13
    historical
32. 2015-09-01
    price $12,500
33. 2015-08-11
    price $12,900
34. 2015-07-21
    price $13,500
35. 2015-07-01
    listed $13,900 Active
36. 2015-06-30
    listed $12,500

ⓘ 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 ≥96°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: $15,327
• − Mortgage interest: −$3,134
• − Property taxes: −$839
• − Insurance: −$280
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$1,628
• Taxable income: $6,994
• Est. tax owed @ 24.0%: −$1,679
• After-tax cash flow: $5,790/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+347.6% since first listed

23 events — show timeline

• 2026-05-04 Listed $55,950 REALCOMP
• 2026-05-04 Listed $55,950 MiRealSource-MiMLS
• 2021-12-31 Price Changed $1,100 RENT.
• 2021-02-27 Listed $25,000 MiRealSource-MiMLS
• 2021-02-27 Listed $25,000 REALCOMP
• 2021-02-27 Sold (MLS) $25,000 REALCOMP
• 2017-10-19 Sold (MLS) $17,000 REALCOMP
• 2017-10-14 Pending — MiRealSource-MiMLS
• 2017-10-14 Pending — REALCOMP
• 2017-10-10 Relisted — MiRealSource-MiMLS
• 2017-10-10 Relisted — REALCOMP
• 2017-10-09 Listing Removed — REALCOMP
• 2017-09-25 Pending — MiRealSource-MiMLS
• 2017-09-25 Pending — REALCOMP
• 2017-08-28 Listed $15,000 MiRealSource-MiMLS
• 2017-08-28 Listed $15,000 REALCOMP
• 2016-01-03 Listing Removed — MiRealSource-MiMLS
• 2015-11-13 Listing Removed — REALCOMP
• 2015-09-01 Price Changed $12,500 REALCOMP
• 2015-08-11 Price Changed $12,900 REALCOMP
• 2015-07-21 Price Changed $13,500 REALCOMP
• 2015-07-01 Listed $13,900 REALCOMP
• 2015-06-30 Listed $12,500 MiRealSource-MiMLS

Property tax history

+8.1%/yr

Latest (2025): $3,234 · +0.7% YoY. Source: county tax records.