18918 Dresden St · Detroit, MI 48205

$75,000

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 12 Days on market

Built 1951 4,356 sqft lot Est $56k · 34% over

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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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful recently renovated 3 BDRM home. Perfect starter home for first time home buyer. Located in stable area. Sold AS IS. Schedule your private showing today.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1951

Property features AI

Finance

• Other: Located in Busch Garden Subdivision; Directions: Take 7 Mile Rd to Street, go south to address (near 7 Mile and Hoover Rd)

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; One and one-half stories
• Construction: Vinyl siding; Approximately 900 above-grade finished square feet
• Exterior features: Paved road access; Lot roughly 0.1 acres (36 x 122)

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Entry at ground level with steps

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.7% vs local median 10.1% 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 (+1.3%/yr); 376 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $519 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 2y 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 $28k; list at $75k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.76% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.95%
• DSCR: 2.02
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $55,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18488 Waltham St	0.31mi	3/1.0	902 (+0%)	4mo	$56,000	$62	82
18982 Hamburg St	0.14mi	3/1.0	952 (+6%)	3mo	$45,000	$47	81
19161 Hamburg St	0.21mi	3/1.0	960 (+7%)	2mo	$116,000	$121	78
19361 Beland St	0.58mi	3/1.0	901 (+0%)	2mo	$47,500	$53	71
19140 Algonac St	0.55mi	2/1.0 (-1)	892 (-1%)	1mo	$46,000	$52	67
19633 Barlow St	0.51mi	3/1.5	962 (+7%)	3mo	$72,000	$75	60
17401 Albion St	0.72mi	2/1.0 (-1)	865 (-4%)	1mo	$50,000	$58	54
19730 Goulburn St	0.62mi	3/1.5	977 (+9%)	1mo	$114,000	$117	54
17892 Runyon St	0.57mi	3/1.5	995 (+11%)	2mo	$56,000	$56	52
19591 Strasburg St	0.44mi	3/1.5	1,034 (+15%)	3mo	$89,000	$86	50
19758 Waltham St	0.61mi	3/1.0	790 (-12%)	3mo	$6,000	$8	48
18696 Blackmoor St	0.69mi	3/1.0	1,010 (+12%)	0mo	$77,500	$77	48

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: 13.8%
• Equity multiple: 1.54×
• Total profit: $11,339
• Equity at exit: $11,183

10-year hold

• IRR: 21.2%
• Equity multiple: 2.64×
• Total profit: $34,533
• Equity at exit: $6,485

Cash invested: $21,000 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,322 high
• Mortgage (P&I): −$393
• Tax from tax record: −$219 /mo · $2,623/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $402

Break-even live

Break-even rent $814

Max offer price $75,000

Occupancy floor 65%

Sensitivity live

Price	-10% $444	-5% $423	+0% $402	+5% $380	+10% $359
Rent	-10% $297	-5% $349	+0% $402	+5% $454	+10% $506
Rate	-1.0pp $439	-0.5pp $421	base $402	+0.5pp $382	+1.0pp $362

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 33 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	0.15mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	45d	1	0.20mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	45d	1	0.40mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	0.41mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.42mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	23d	1	0.43mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	0.43mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	0.46mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	45d	1	0.50mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	45d	1	0.51mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	0.53mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.59mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.84mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.85mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.93mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.98mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	1.05mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	45d	1	1.06mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	1.09mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	1.10mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	1.12mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	45d	1	1.17mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	1.18mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	1.19mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	1.22mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	1.26mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.31mi
21311 Waltham Rd Warren, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	1.41mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	1.42mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	1.46mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.47mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	45d	1	1.47mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.49mi

Listing history 9 events

1. 2026-06-21
   days on market $75,000 Active 12 DOM
2. 2026-06-18
   days on market $75,000 Active 9 DOM
3. 2026-06-17
   days on market $75,000 Active 8 DOM
4. 2026-06-16
   days on market $75,000 Active 7 DOM
5. 2026-06-15
   days on market $75,000 Active 6 DOM
6. 2026-06-13
   days on market $75,000 Active 4 DOM
7. 2026-06-13
   days on market $75,000 Active 3 DOM
8. 2026-06-10
   remarks 162-char remark
9. 2026-06-10
   listed $75,000 Active 1 DOM

ⓘ 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: $2,623 · $219/mo
• Projected year-2 tax: $2,623 · $219/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 ≥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: $15,870
• − Mortgage interest: −$4,201
• − Property taxes: −$2,623
• − Insurance: −$375
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$2,182
• Taxable income: $3,950
• Est. tax owed @ 24.0%: −$948
• After-tax cash flow: $3,872/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

+168.8% since first listed

26 events — show timeline

• 2026-06-09 Listed $75,000 REALCOMP
• 2026-06-09 Listed $75,000 MiRealSource-MiMLS
• 2025-09-30 Listing Removed — REALCOMP
• 2025-09-30 Listing Removed — MiRealSource-MiMLS
• 2025-08-07 Listed $79,900 REALCOMP
• 2025-08-07 Listed $79,900 MiRealSource-MiMLS
• 2025-07-09 Listing Removed — MiRealSource-MiMLS
• 2025-05-20 Price Changed $79,900 MiRealSource-MiMLS
• 2025-05-19 Price Changed $79,900 REALCOMP
• 2025-05-09 Price Changed $89,900 MiRealSource-MiMLS
• 2025-05-09 Price Changed $89,900 REALCOMP
• 2025-05-07 Price Changed $79,900 MiRealSource-MiMLS
• 2025-05-07 Price Changed $79,900 REALCOMP
• 2025-04-30 Price Changed $89,900 MiRealSource-MiMLS
• 2025-04-29 Price Changed $89,900 REALCOMP
• 2025-04-17 Price Changed $92,500 MiRealSource-MiMLS
• 2025-04-16 Price Changed $92,500 REALCOMP
• 2025-04-14 Relisted — REALCOMP
• 2025-04-13 Listing Removed — REALCOMP
• 2025-03-29 Listed $95,000 REALCOMP
• 2025-03-29 Listed $95,000 MiRealSource-MiMLS
• 2024-06-30 Listing Removed — MiRealSource-MiMLS
• 2024-06-30 Listing Removed — REALCOMP
• 2024-03-06 Listed $85,000 MiRealSource-MiMLS
• 2024-03-06 Listed $85,000 REALCOMP
• 1992-10-01 Sold (Public Records) $27,900 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,623 · +0.9% YoY. Source: county tax records.