18492 Snowden St · Detroit, MI 48235

$125,000

3 bd · 1.0 ba · 955 sqft · SingleFamily public records · 8 Days on market

Built 1940 4,792 sqft lot $131/sqft · 42% above area Est $213k · 41% under

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Why this score? — see what drove the C+ 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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid bones, great location, and real upside. With a newer furnace, brand new hot water tank, and newer roof, the big stuff is already done. This 3-bedroom bungalow with a finished basement and a 2-car garage is a great opportunity to make it your own. You're also right in the middle of everything - about 15 minutes to Downtown & Midtown Detroit (Riverwalk, Heart Plaza, casinos), Royal Oak, Ferndale, Plum Hollow Country Club, Detroit Golf Club, and Ralph C. Wilson, Jr. Centennial Park.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1940

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved access
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick exterior; Faces unspecified direction
• Construction: Brick construction; Asphalt roof; Block foundation; Built year not specified
• Exterior features: Patio; Porch; Fenced yard

Interior

• Kitchen: Dishwasher; Free-standing refrigerator; Gas water heater
• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans
• Interior features: Finished basement; Lighting

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

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 (+3.2%/yr); 290 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 41% 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 $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $212,758
• List price: $125,000
• Delta: -41.25%
• 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
18081 Meyers Rd	0.44mi	2/1.5 (-1)	946 (-1%)	6mo	$75,000	$79	66
18235 Tracey St	0.28mi	3/2.0	1,055 (+10%)	4mo	$67,000	$64	63
19193 Lesure St	0.46mi	2/2.0 (-1)	909 (-5%)	1mo	$140,000	$154	60
17365 Meyers Rd	0.64mi	2/1.0 (-1)	942 (-1%)	4mo	$49,000	$52	60
19161 Meyers Rd	0.49mi	2/1.0 (-1)	894 (-6%)	3mo	$87,500	$98	59
19484 Schaefer Hwy	0.64mi	2/1.0 (-1)	1,000 (+5%)	2mo	$50,000	$50	56
19341 Schaefer Hwy	0.50mi	2/1.0 (-1)	1,023 (+7%)	8mo	$37,500	$37	54
18058 Tracey St	0.34mi	3/1.0	1,090 (+14%)	9mo	$120,000	$110	53
19483 Meyers Rd	0.71mi	2/1.0 (-1)	926 (-3%)	6mo	$41,000	$44	51
18476 Mark Twain St	0.49mi	3/1.0	1,089 (+14%)	8mo	$71,000	$65	48
10710 Curtis St	0.50mi	2/1.0 (-1)	865 (-9%)	11mo	$37,500	$43	47
19159 Meyers Rd	0.49mi	2/1.0 (-1)	1,094 (+15%)	3mo	$87,500	$80	46

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-7,298
• Equity at exit: $18,638

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $11,323
• Equity at exit: $10,808

Cash invested: $35,000 (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 48235

• Rents YoY: 3.2%
• Active inventory: 290
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$656
• Tax from tax record: −$147 /mo · $1,763/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $198

Break-even live

Break-even rent $1,082

Max offer price $125,000

Occupancy floor 80%

Sensitivity live

Price	-10% $269	-5% $233	+0% $198	+5% $163	+10% $127
Rent	-10% $93	-5% $145	+0% $198	+5% $251	+10% $303
Rate	-1.0pp $261	-0.5pp $230	base $198	+0.5pp $166	+1.0pp $133

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	25d	1	0.11mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	44d	1	0.38mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	0.39mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	6d	1	0.63mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	0.80mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	18d	1	0.94mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	21d	1	1.04mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.05mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	1.06mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	1.06mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	1.08mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	6d	1	1.13mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	1.15mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	4d	1	1.16mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	18d	1	1.23mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	18d	1	1.36mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	18d	1	1.37mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	4d	1	1.38mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	6d	1	1.38mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	44d	1	1.42mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	1.43mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	1.44mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	1.44mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	25d	1	1.47mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	1.48mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	19d	1	1.48mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	1.49mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	25d	1	1.49mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.49mi

Listing history 8 events

1. 2026-05-08
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Solid bones, great location, and real upside. With a newer furnace, brand new hot water tank, and newer roof, the big stuff is already done. This 3-bedroom bungalow with a finished basement and a 2-car garage is a great opportunity to make it your own. You're also right in the middle of everything - about 15 minutes to Downtown & Midtown Detroit (Riverwalk, Heart Plaza, casinos), Royal Oak, Ferndale, Plum Hollow Country Club, Detroit Golf Club, and Ralph C. Wilson, Jr. Centennial Park.

2. 2026-05-08
   status Pending 506-char remark

   Show marketing remark (496 chars)

   Solid bones, great location, and real upside. With a newer furnace, brand new hot water tank, and newer roof, the big stuff is already done. This 3-bedroom bungalow with a finished basement and a 2-car garage is a great opportunity to make it your own. You're also right in the middle of everything - about 15 minutes to Downtown & Midtown Detroit (Riverwalk, Heart Plaza, casinos), Royal Oak, Ferndale, Plum Hollow Country Club, Detroit Golf Club, and Ralph C. Wilson, Jr. Centennial Park.

3. 2026-05-01
   listed $125,000 Active 496-char remark

   Show marketing remark (496 chars)

   Solid bones, great location, and real upside. With a newer furnace, brand new hot water tank, and newer roof, the big stuff is already done. This 3-bedroom bungalow with a finished basement and a 2-car garage is a great opportunity to make it your own. You're also right in the middle of everything - about 15 minutes to Downtown & Midtown Detroit (Riverwalk, Heart Plaza, casinos), Royal Oak, Ferndale, Plum Hollow Country Club, Detroit Golf Club, and Ralph C. Wilson, Jr. Centennial Park.

4. 2026-05-01
   listed $125,000 Active 506-char remark

   Show marketing remark (496 chars)

   Solid bones, great location, and real upside. With a newer furnace, brand new hot water tank, and newer roof, the big stuff is already done. This 3-bedroom bungalow with a finished basement and a 2-car garage is a great opportunity to make it your own. You're also right in the middle of everything - about 15 minutes to Downtown & Midtown Detroit (Riverwalk, Heart Plaza, casinos), Royal Oak, Ferndale, Plum Hollow Country Club, Detroit Golf Club, and Ralph C. Wilson, Jr. Centennial Park.

5. 2026-04-27
   historical $125,000 496-char remark

   Show marketing remark (496 chars)

   Solid bones, great location, and real upside. With a newer furnace, brand new hot water tank, and newer roof, the big stuff is already done. This 3-bedroom bungalow with a finished basement and a 2-car garage is a great opportunity to make it your own. You're also right in the middle of everything - about 15 minutes to Downtown & Midtown Detroit (Riverwalk, Heart Plaza, casinos), Royal Oak, Ferndale, Plum Hollow Country Club, Detroit Golf Club, and Ralph C. Wilson, Jr. Centennial Park.

6. 2004-10-08
   soldstatus $110,000
7. 2004-01-27
   soldstatus $110,000
8. 2003-08-25
   listed $114,900

ⓘ 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: $1,763 · $147/mo
• Projected year-2 tax: $1,844 · $154/mo
• Expected delta: +$81/yr (+$7/mo · 4.6%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,987
• − Mortgage interest: −$7,002
• − Property taxes: −$1,763
• − Insurance: −$625
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$3,636
• Taxable income: $403
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $2,279/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+21.8% since first listed

10 events — show timeline

• 2026-06-04 Sold (MLS) $140,000 REALCOMP
• 2026-06-04 Sold (MLS) $140,000 MiRealSource-MiMLS
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-08 Pending — REALCOMP
• 2026-05-01 Listed $125,000 MiRealSource-MiMLS
• 2026-05-01 Listed $125,000 REALCOMP
• 2026-04-27 Coming Soon $125,000 MiRealSource-MiMLS
• 2004-10-08 Sold (Public Records) $110,000 Public Records
• 2004-01-27 Sold (MLS) $110,000 REALCOMP
• 2003-08-25 Listed $114,900 REALCOMP

Property tax history

+1.9%/yr

Latest (2025): $1,763 · -0.6% YoY. Source: county tax records.