19136 Tracey St · Detroit, MI 48235

$129,900

3 bd · 1.0 ba · 933 sqft · SingleFamily public records · 13 Days on market

Built 1939 4,792 sqft lot Est $90k · 45% over

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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 +15.5/30.0
• 1% rule +5.2/10.0
• DSCR +4.8/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 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

Charming 3 Bedroom, 1 Bathroom Bungalow! Features hardwood flooring and a basement for extra storage. Great Location close to all major roads, schools, & shopping. Home is tenant occupied.

Key facts

• Hardwood flooring
• Great location
• 4,792 sq ft lot

Tags

• HARDWOOD FLOORING
• BASEMENT FOR EXTRA STORAGE
• GREAT LOCATION

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps; Brick construction
• Construction: Brick exterior
• Exterior features: Paved road access; Lot around 0.11 acres (approx. 41 x 119.97)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $53 ($638/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 6.8% vs local median 10.0% 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: 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.
• Zoned schools: Vernor Elementary School (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 328 students, 87% FRL); Mumford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 889 students, 86% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 291 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 40% 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 $898 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 29y 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 $18k; list at $130k implies a 602% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1939 — 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. 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?
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: 1.02% ✓
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $89,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19193 Lesure St	0.10mi	2/2.0 (-1)	909 (-3%)	2mo	$140,000	$154	81
19484 Schaefer Hwy	0.31mi	2/1.0 (-1)	1,000 (+7%)	2mo	$50,000	$50	67
19341 Schaefer Hwy	0.15mi	2/1.0 (-1)	1,023 (+10%)	8mo	$37,500	$37	66
19161 Meyers Rd	0.53mi	2/1.0 (-1)	894 (-4%)	3mo	$87,500	$98	61
19483 Meyers Rd	0.61mi	2/1.0 (-1)	926 (-1%)	6mo	$41,000	$44	60
20115 Ward St	0.70mi	3/1.0	1,000 (+7%)	4mo	$160,000	$160	52
19978 Tracey St	0.53mi	3/1.0	1,038 (+11%)	7mo	$135,000	$130	50
20108 Cheyenne St	0.68mi	3/1.0	1,014 (+9%)	5mo	$160,000	$158	49
20025 Hubbell St	0.73mi	3/1.0	1,022 (+10%)	1mo	$59,500	$58	49
18235 Tracey St	0.50mi	3/2.0	1,055 (+13%)	4mo	$67,000	$64	48
19920 Meyers Rd	0.74mi	2/1.0 (-1)	901 (-3%)	12mo	$25,000	$28	45
20110 Lesure St	0.64mi	3/1.0	1,058 (+13%)	8mo	$101,500	$96	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-17,249
• Equity at exit: $19,369

10-year hold

• IRR: -3.6%
• Equity multiple: 0.75×
• Total profit: $-8,963
• Equity at exit: $11,231

Cash invested: $36,372 (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: 291
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,324 high
• Mortgage (P&I): −$681
• Tax from tax record: −$257 /mo · $3,090/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $53

Break-even live

Break-even rent $1,257

Max offer price $129,900

Occupancy floor 91%

Sensitivity live

Price	-10% $127	-5% $90	+0% $53	+5% $16	+10% $-20
Rent	-10% $-51	-5% $1	+0% $53	+5% $105	+10% $158
Rate	-1.0pp $119	-0.5pp $86	base $53	+0.5pp $20	+1.0pp $-15

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	7d	1	0.28mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	26d	1	0.33mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	45d	1	0.56mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,500	$1.49	0d	1	0.68mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	19d	1	0.78mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	45d	1	0.86mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	22d	1	0.86mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	4d	1	0.92mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	21d	1	0.99mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	19d	1	1.00mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	7d	1	1.07mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	45d	2	1.17mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	19d	1	1.19mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	45d	1	1.25mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	26d	1	1.25mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	18d	1	1.28mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	19d	1	1.29mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	5d	1	1.31mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	45d	1	1.31mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	26d	1	1.33mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.38mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	1.40mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	19d	1	1.40mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	17d	5	1.41mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	1.42mi

Listing history 9 events

1. 2026-06-21
   days on market $129,900 Active 13 DOM
2. 2026-06-18
   days on market $129,900 Active 10 DOM
3. 2026-06-17
   days on market $129,900 Active 9 DOM
4. 2026-06-16
   days on market $129,900 Active 8 DOM
5. 2026-06-15
   days on market $129,900 Active 7 DOM
6. 2026-06-13
   days on market $129,900 Active 5 DOM
7. 2026-06-13
   days on market $129,900 Active 4 DOM
8. 2026-06-08
   remarks 189-char remark

   Show marketing remark (193 chars)

   Charming 3 Bedroom, 1 Bathroom Bungalow! Features hardwood flooring and a basement for extra storage. Great Location close to all major roads, schools, & shopping. Home is tenant occupied.

9. 2026-06-08
   listed $129,900 Active 1 DOM

   Show marketing remark (193 chars)

   Charming 3 Bedroom, 1 Bathroom Bungalow! Features hardwood flooring and a basement for extra storage. Great Location close to all major roads, schools, & shopping. Home is tenant occupied.

ⓘ 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: $3,090 · $257/mo
• Projected year-2 tax: $3,090 · $257/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,889
• − Mortgage interest: −$7,276
• − Property taxes: −$3,090
• − Insurance: −$650
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$3,779
• Taxable loss: −$1,448
• Est. tax savings @ 24.0%: +$348
• After-tax cash flow: $986/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

+93.9% since first listed

34 events — show timeline

• 2026-06-08 Listed $129,900 REALCOMP
• 2026-06-08 Listed $129,900 MiRealSource-MiMLS
• 2026-04-07 Listing Removed — MiRealSource-MiMLS
• 2026-02-25 Listed $139,900 REALCOMP
• 2026-02-25 Listed $139,900 MiRealSource-MiMLS
• 2025-05-31 Rental Removed $1,250 PROPERTYWARE
• 2025-04-25 Listed for Rent $1,250 PROPERTYWARE
• 2016-12-07 Sold (MLS) $18,500 MiRealSource-MiMLS
• 2016-12-07 Sold (MLS) $18,500 REALCOMP
• 2016-10-20 Pending — MiRealSource-MiMLS
• 2016-10-19 Pending — REALCOMP
• 2016-10-14 Listed $20,000 MiRealSource-MiMLS
• 2016-10-14 Listed $20,000 REALCOMP
• 2009-07-28 Listing Removed — MiRealSource-MiMLS
• 2009-06-25 Sold (Public Records) $109,000 Public Records
• 2009-03-14 Listed $120,000 MiRealSource-MiMLS
• 2009-02-27 Listing Removed — REALCOMP
• 2008-10-14 Listed $18,900 REALCOMP
• 2007-04-27 Sold (MLS) $50,000 REALCOMP
• 2007-02-07 Listed $59,900 REALCOMP
• 2006-04-24 Listing Removed — MiRealSource-MiMLS
• 2006-01-24 Listed $135,000 MiRealSource-MiMLS
• 2004-11-05 Sold (Public Records) $136,000 Public Records
• 2003-12-23 Sold (Public Records) $130,000 Public Records
• 2002-03-29 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2002-02-06 Listing Removed — MiRealSource-MiMLS
• 2002-01-10 Listed $65,000 MiRealSource-MiMLS
• 2001-09-26 Sold (Public Records) $81,500 Public Records
• 2001-04-20 Sold (Public Records) $68,000 Public Records
• 2000-06-22 Sold (Public Records) $77,000 Public Records
• 1997-08-08 Listing Removed — REALCOMP
• 1997-04-30 Listing Removed — REALCOMP
• 1997-04-29 Listed $65,000 REALCOMP
• 1997-03-19 Listed $67,000 REALCOMP

Property tax history

+16.9%/yr

Latest (2025): $3,090 · +0.7% YoY. Source: county tax records.