18458 Snowden St · Detroit, MI 48235

$169,900

3 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 83 Days on market

Built 1940 4,792 sqft lot $128/sqft · at area comps Est $181k · 6% under

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Why this score? — see what drove the D 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 +13.7/30.0
• ARV discount +10.2/15.0
• DSCR +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully fully updated 3 bedroom, 1 bath home that's completely move in ready! This home features all new vinyl flooring throughout, a brand new kitchen with modern finishes, and fresh paint in every room, giving it a clean and contemporary feel. The updated bathroom adds style and comfort, while the spacious layout offers plenty of natural light and functionality. Perfect for a first-time buyer or anyone looking for a turnkey home with nothing left to do but move in and enjoy!

Key facts

• 4,792 sq ft lot
• Built 1940
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $12 ($139/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (19.0% below list).
• Recommended offer: $138k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 10.1% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 42% 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 83 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 12y 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 $85k; list at $170k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,676 (19.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 10.3

CMA / ARV

• ARV (median comp): $180,692
• List price: $169,900
• Delta: -5.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18945 Littlefield St	0.24mi	3/1.5	1,473 (+11%)	4mo	$180,000	$122	65
18011 Appoline St W	0.42mi	3/1.5	1,440 (+8%)	3mo	$170,000	$118	62
17621 Meyers Rd	0.48mi	2/2.0 (-1)	1,264 (-5%)	0mo	$40,000	$32	61
17161 Ward Ave	0.64mi	3/1.5	1,377 (+4%)	2mo	$194,500	$141	60
17531 Ardmore St	0.56mi	4/2.0 (+1)	1,304 (-2%)	2mo	$195,000	$150	60
18292 Mendota St	0.60mi	3/1.0	1,232 (-7%)	1mo	$145,000	$118	59
18501 Mendota St	0.57mi	3/1.0	1,461 (+10%)	4mo	$135,000	$92	54
18438 Mendota St	0.60mi	3/1.5	1,459 (+10%)	1mo	$149,400	$102	52
18927 Stansbury St	0.40mi	3/2.0	1,523 (+15%)	1mo	$98,000	$64	52
17561 Appoline St	0.48mi	3/1.5	1,498 (+13%)	4mo	$88,000	$59	51
18093 Mendota St	0.61mi	3/1.0	1,132 (-15%)	4mo	$133,000	$117	44
18474 Griggs St	0.71mi	3/2.5	1,492 (+12%)	2mo	$106,000	$71	38

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-26,487
• Equity at exit: $25,333

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-20,844
• Equity at exit: $14,690

Cash invested: $47,572 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,377 high
• Mortgage (P&I): −$891
• Tax from tax record: −$114 /mo · $1,372/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $12

Break-even live

Break-even rent $1,362

Max offer price $169,900

Occupancy floor 94%

Sensitivity live

Price	-10% $108	-5% $60	+0% $12	+5% $-37	+10% $-85
Rent	-10% $-97	-5% $-43	+0% $12	+5% $66	+10% $120
Rate	-1.0pp $97	-0.5pp $55	base $12	+0.5pp $-32	+1.0pp $-77

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 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
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	17d	1	0.53mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	6d	1	0.63mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	0.70mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	3d	1	0.88mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	6d	1	1.00mi
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,400	$0.97	17d	1	1.01mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	21d	1	1.04mi
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	11d	1	1.08mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	44d	1	1.08mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	21d	1	1.09mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	44d	1	1.09mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	6d	1	1.13mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.14mi
20426 Tracey St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	25d	1	1.14mi
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	3d	1	1.16mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	6d	1	1.28mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	18d	1	1.36mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	21d	1	1.36mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	25d	1	1.36mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	18d	1	1.37mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	1.38mi
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
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	1.42mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	1.43mi
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	18d	1	1.45mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	1.46mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.46mi
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	18d	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

Listing history 49 events

1. 2026-06-21
   days on market $169,900 Active 83 DOM
2. 2026-06-18
   days on market $169,900 Active 80 DOM
3. 2026-06-17
   days on market $169,900 Active 79 DOM
4. 2026-06-15
   days on market $169,900 Active 77 DOM
5. 2026-06-13
   days on market $169,900 Active 75 DOM
6. 2026-06-13
   days on market $169,900 Active 74 DOM
7. 2026-06-09
   days on market $169,900 Active 71 DOM
8. 2026-06-08
   days on market $169,900 Active 70 DOM
9. 2026-06-07
   days on market $169,900 Active 69 DOM
10. 2026-06-04
    days on market $169,900 Active 66 DOM
11. 2026-06-03
    days on market $169,900 Active 65 DOM
12. 2026-06-02
    days on market $169,900 Active 64 DOM
13. 2026-06-01
    days on market $169,900 Active 63 DOM
14. 2026-05-31
    days on market $169,900 Active 62 DOM
15. 2026-03-30
    listed $169,900 Active 485-char remark

    Show marketing remark (491 chars)

    Beautifully fully updated 3 bedroom, 1 bath home that’s completely move in ready! This home features all new vinyl flooring throughout, a brand new kitchen with modern finishes, and fresh paint in every room, giving it a clean and contemporary feel. The updated bathroom adds style and comfort, while the spacious layout offers plenty of natural light and functionality. Perfect for a first-time buyer or anyone looking for a turnkey home with nothing left to do but move in and enjoy!

16. 2026-03-30
    listed $169,900 Active 491-char remark

    Show marketing remark (491 chars)

    Beautifully fully updated 3 bedroom, 1 bath home that’s completely move in ready! This home features all new vinyl flooring throughout, a brand new kitchen with modern finishes, and fresh paint in every room, giving it a clean and contemporary feel. The updated bathroom adds style and comfort, while the spacious layout offers plenty of natural light and functionality. Perfect for a first-time buyer or anyone looking for a turnkey home with nothing left to do but move in and enjoy!

17. 2026-03-30
    historical

    Show marketing remark (491 chars)

    Beautifully fully updated 3 bedroom, 1 bath home that’s completely move in ready! This home features all new vinyl flooring throughout, a brand new kitchen with modern finishes, and fresh paint in every room, giving it a clean and contemporary feel. The updated bathroom adds style and comfort, while the spacious layout offers plenty of natural light and functionality. Perfect for a first-time buyer or anyone looking for a turnkey home with nothing left to do but move in and enjoy!

18. 2026-02-10
    listed $174,000 Active
19. 2026-02-10
    listed $174,000 Active
20. 2026-02-06
    historical
21. 2026-02-06
    historical
22. 2026-01-05
    listed $174,900 Active
23. 2026-01-05
    listed $174,900 Active
24. 2026-01-03
    historical
25. 2025-12-11
    historical
26. 2025-12-06
    status Active
27. 2025-12-06
    status Active
28. 2025-11-19
    historical
29. 2025-11-19
    historical
30. 2025-11-04
    price $179,000
31. 2025-11-04
    price $179,000
32. 2025-10-17
    price $179,900
33. 2025-10-17
    price $179,900
34. 2025-09-19
    price $189,900
35. 2025-09-19
    price $189,900
36. 2025-09-08
    price $199,000
37. 2025-09-08
    price $199,000
38. 2025-08-29
    listed $209,000 Active
39. 2025-08-29
    listed $209,000 Active
40. 2025-08-28
    historical
41. 2025-06-27
    soldstatus $85,000 Closed
42. 2025-06-27
    soldstatus $85,000 Closed
43. 2025-06-10
    status Pending
44. 2025-06-10
    status Pending
45. 2025-06-06
    listed $84,900 Active
46. 2025-06-06
    listed $84,900 Active
47. 2025-06-03
    historical $84,900
48. 2014-06-18
    historical
49. 2014-04-14
    listed $700

ⓘ 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: $1,372 · $114/mo
• Projected year-2 tax: $1,994 · $166/mo
• Expected delta: +$622/yr (+$52/mo · 45.4%)

ⓘ 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: $16,521
• − Mortgage interest: −$9,517
• − Property taxes: −$1,372
• − Insurance: −$850
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$4,943
• Taxable loss: −$2,803
• Est. tax savings @ 24.0%: +$673
• After-tax cash flow: $812/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

+100.1% since first listed

35 events — show timeline

• 2026-03-30 Listing Removed — MiRealSource-MiMLS
• 2026-03-30 Listed $169,900 REALCOMP
• 2026-03-30 Listed $169,900 MiRealSource-MiMLS
• 2026-02-10 Listed $174,000 REALCOMP
• 2026-02-10 Listed $174,000 MiRealSource-MiMLS
• 2026-02-06 Listing Removed — MiRealSource-MiMLS
• 2026-02-06 Listing Removed — REALCOMP
• 2026-01-05 Listed $174,900 MiRealSource-MiMLS
• 2026-01-05 Listed $174,900 REALCOMP
• 2026-01-03 Coming Soon — MiRealSource-MiMLS
• 2025-12-11 Listing Removed — MiRealSource-MiMLS
• 2025-12-06 Relisted — MiRealSource-MiMLS
• 2025-12-06 Relisted — REALCOMP
• 2025-11-19 Listing Removed — REALCOMP
• 2025-11-19 Listing Removed — MiRealSource-MiMLS
• 2025-11-04 Price Changed $179,000 MiRealSource-MiMLS
• 2025-11-04 Price Changed $179,000 REALCOMP
• 2025-10-17 Price Changed $179,900 MiRealSource-MiMLS
• 2025-10-17 Price Changed $179,900 REALCOMP
• 2025-09-19 Price Changed $189,900 MiRealSource-MiMLS
• 2025-09-19 Price Changed $189,900 REALCOMP
• 2025-09-08 Price Changed $199,000 MiRealSource-MiMLS
• 2025-09-08 Price Changed $199,000 REALCOMP
• 2025-08-29 Listed $209,000 MiRealSource-MiMLS
• 2025-08-29 Listed $209,000 REALCOMP
• 2025-08-28 Coming Soon — MiRealSource-MiMLS
• 2025-06-27 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2025-06-27 Sold (MLS) $85,000 REALCOMP
• 2025-06-10 Pending — MiRealSource-MiMLS
• 2025-06-10 Pending — REALCOMP
• 2025-06-06 Listed $84,900 MiRealSource-MiMLS
• 2025-06-06 Listed $84,900 REALCOMP
• 2025-06-03 Coming Soon $84,900 MiRealSource-MiMLS
• 2014-06-18 Listing Removed — MiRealSource-MiMLS
• 2014-04-14 Listed $700 MiRealSource-MiMLS

Property tax history

+0.7%/yr

Latest (2025): $1,372 · -37.3% YoY. Source: county tax records.