19605 Justine St · Detroit, MI 48234

$54,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 71 Days on market

Built 1945 3,920 sqft lot $68/sqft · 24% above area Est $44k · 24% 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
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• 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

Great investment opportunity! This 2-bedroom, 1-bath ranch features a tenant already in place, providing immediate rental income. Ideal for investors looking for a buy-and-hold property in a solid Detroit rental market. A great addition to any investment portfolio with strong rental demand in the area.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1945

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Recommended offer: $51k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.1% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 26 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 43% of the median local income ($35k/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 $373 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 + 6.7% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $40k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,760 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.32% ✓
• Cap rate: 19.14%
• Cash-on-cash: 45.87%
• DSCR: 3.04
• GRM: 3.6

CMA / ARV

• ARV (median comp): $43,706
• List price: $54,000
• Delta: 23.55%
• 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
19300 Binder St	0.29mi	2/1.0	820 (+4%)	4mo	$10,000	$12	77
19667 Sunset St	0.13mi	3/1.5 (+1)	752 (-5%)	4mo	$28,500	$38	75
19725 Lamont St	0.23mi	3/1.0 (+1)	835 (+5%)	4mo	$10,000	$12	72
19255 Binder St	0.34mi	2/1.0	719 (-9%)	3mo	$38,500	$54	66
20012 Binder St	0.38mi	3/1.0 (+1)	871 (+10%)	3mo	$50,500	$58	58
19942 Binder St	0.33mi	3/1.0 (+1)	696 (-12%)	5mo	$70,000	$101	56
20203 Moenart St	0.61mi	2/1.0	725 (-8%)	3mo	$48,000	$66	55
19451 Conley St	0.32mi	3/1.0 (+1)	900 (+14%)	3mo	$54,000	$60	55
20180 Charest St	0.74mi	3/1.0 (+1)	840 (+6%)	4mo	$45,000	$54	47
18830 Hasse St	0.47mi	3/1.0 (+1)	898 (+13%)	7mo	$36,500	$41	45
20499 Binder St	0.65mi	3/1.0 (+1)	712 (-10%)	6mo	$72,100	$101	43
19436 Albany St	0.74mi	3/1.0 (+1)	725 (-8%)	6mo	$17,000	$23	41

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 47.4%
• Equity multiple: 3.18×
• Total profit: $32,977
• Equity at exit: $8,052

10-year hold

• IRR: 54.8%
• Equity multiple: 7.47×
• Total profit: $97,875
• Equity at exit: $4,669

Cash invested: $15,120 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$283
• Tax from tax record: −$107 /mo · $1,289/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $578

Break-even live

Break-even rent $523

Max offer price $54,000

Occupancy floor 49%

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: $13,500
• Closing costs: $1,620
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.26mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.35mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.42mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.42mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	23d	1	0.44mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.48mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	17d	1	0.52mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.54mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	0.56mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.59mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	0.63mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	0.63mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	0.77mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	0.81mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	0.83mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.87mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	0.91mi
3974 Berkshire Ave Warren, MI	1.0	1.0	900	$1,500	$1.67	2d	1	1.02mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	24d	1	1.15mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.18mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	1.22mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	43d	1	1.23mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.28mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	1.32mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.34mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.39mi

Listing history 14 events

1. 2026-06-04
   days on market $54,000 Active 71 DOM
2. 2026-06-03
   days on market $54,000 Active 70 DOM
3. 2026-06-02
   days on market $54,000 Active 69 DOM
4. 2026-06-01
   days on market $54,000 Active 68 DOM
5. 2026-05-31
   days on market $54,000 Active 67 DOM
6. 2026-03-25
   listed $55,000 Active 303-char remark

   Show marketing remark (303 chars)

   Great investment opportunity! This 2-bedroom, 1-bath ranch features a tenant already in place, providing immediate rental income. Ideal for investors looking for a buy-and-hold property in a solid Detroit rental market. A great addition to any investment portfolio with strong rental demand in the area.

7. 2026-03-25
   listed $55,000 Active 303-char remark

   Show marketing remark (303 chars)

   Great investment opportunity! This 2-bedroom, 1-bath ranch features a tenant already in place, providing immediate rental income. Ideal for investors looking for a buy-and-hold property in a solid Detroit rental market. A great addition to any investment portfolio with strong rental demand in the area.

8. 2022-12-29
   status Pending
9. 2022-12-29
   status Pending
10. 2022-12-29
    soldstatus $40,000 Sold
11. 2022-12-29
    soldstatus $40,000 Closed
12. 2022-11-21
    listed $46,000 Active
13. 2022-11-21
    listed $46,000 Active
14. 1996-10-22
    soldstatus $12,000

ⓘ 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: $1,289 · $107/mo
• Projected year-2 tax: $1,289 · $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 (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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,054
• − Mortgage interest: −$3,025
• − Property taxes: −$1,289
• − Insurance: −$270
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$1,571
• Taxable income: $6,491
• Est. tax owed @ 24.0%: −$1,558
• After-tax cash flow: $5,378/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+358.3% since first listed

9 events — show timeline

• 2026-03-25 Listed $55,000 MiRealSource-MiMLS
• 2026-03-25 Listed $55,000 REALCOMP
• 2022-12-29 Pending — MiRealSource-MiMLS
• 2022-12-29 Pending — REALCOMP
• 2022-12-29 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2022-12-29 Sold (MLS) $40,000 REALCOMP
• 2022-11-21 Listed $46,000 MiRealSource-MiMLS
• 2022-11-21 Listed $46,000 REALCOMP
• 1996-10-22 Sold (Public Records) $12,000 Public Records

Property tax history

-9.1%/yr

Latest (2025): $1,289 · -9.0% YoY. Source: county tax records.