18620 Maine St · Detroit, MI 48234

$12,000

3 bd · 1.0 ba · 889 sqft · SingleFamily public records · 619 Days on market

Built 1950 4,356 sqft lot $13/sqft · 76% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in the Northeast Central District and awaiting your vision. Offered by the Detroit Landbank Authority, this home is a 3 bedroom bungalow included with the vacant land, 18610 Maine that is 5271 square feet. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal (not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development.

Key facts

• 4,356 sq ft lot
• Built 1950
• Listed 619 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $923 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $11k (12.0% below list) — sets the bar for market timing.
• Cap rate 98.6% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $83 of loan paydown is wiped out by about $360 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 619 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 619 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 10.67% ✓
• Cap rate: 98.63%
• Cash-on-cash: 329.76%
• DSCR: 15.67
• GRM: 0.8

CMA / ARV

• ARV (median comp): $50,066
• List price: $12,000
• Delta: -76.03%
• 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
18877 Fleming St	0.23mi	2/1.0 (-1)	870 (-2%)	3mo	$9,900	$11	79
17955 Charest St	0.41mi	3/1.0	880 (-1%)	4mo	$51,800	$59	76
18660 Klinger St	0.36mi	4/2.0 (+1)	880 (-1%)	0mo	$21,000	$24	72
18128 Fleming St	0.23mi	2/1.0 (-1)	950 (+7%)	1mo	$21,500	$23	72
18547 Anglin St	0.07mi	3/1.0	1,000 (+12%)	6mo	$93,000	$93	71
17888 Marx St	0.52mi	3/1.0	937 (+5%)	2mo	$34,000	$36	65
17139 Mackay St	0.75mi	3/1.0	896 (+1%)	1mo	$30,000	$33	63
19227 Ryan Rd	0.71mi	3/1.0	919 (+3%)	1mo	$38,000	$41	60
19619 Norwood St	0.70mi	3/1.0	941 (+6%)	2mo	$30,500	$32	56
19300 Binder St	0.72mi	2/1.0 (-1)	820 (-8%)	4mo	$10,000	$12	45
18905 Dean St	0.71mi	3/1.0	990 (+11%)	6mo	$88,900	$90	43
17833 Binder St	0.71mi	3/1.0	1,000 (+12%)	4mo	$46,000	$46	42

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: —
• Equity multiple: 19.41×
• Total profit: $61,856
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 46.15×
• Total profit: $151,699
• Equity at exit: $1,038

Cash invested: $3,360 (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: 0.8×

Monthly cashflow live

• Estimated rent: $1,280 high
• Mortgage (P&I): −$63
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $923

Break-even live

Break-even rent $111

Max offer price $12,000

Occupancy floor 23%

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.18mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.18mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	0.22mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	0.30mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.41mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.61mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.70mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.70mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.79mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.97mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	43d	1	1.01mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.03mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.24mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	1.26mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	1.32mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.34mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	1.38mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	1.40mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	1.40mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.40mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.44mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.46mi

Listing history 20 events

1. 2026-06-18
   days on market $12,000 Active 619 DOM
2. 2026-06-17
   days on market $12,000 Active 618 DOM
3. 2026-06-15
   days on market $12,000 Active 616 DOM
4. 2026-06-13
   days on market $12,000 Active 614 DOM
5. 2026-06-13
   days on market $12,000 Active 613 DOM
6. 2026-06-09
   days on market $12,000 Active 610 DOM
7. 2026-06-08
   days on market $12,000 Active 609 DOM
8. 2026-06-07
   days on market $12,000 Active 608 DOM
9. 2026-06-04
   days on market $12,000 Active 605 DOM
10. 2026-06-03
    days on market $12,000 Active 604 DOM
11. 2026-06-01
    days on market $12,000 Active 602 DOM
12. 2026-05-31
    days on market $12,000 Active 601 DOM
13. 2024-10-07
    listed $12,000 Active 1228-char remark

    Show marketing remark (1228 chars)

    Great investment opportunity in the Northeast Central District and awaiting your vision. Offered by the Detroit Landbank Authority, this home is a 3 bedroom bungalow included with the vacant land, 18610 Maine that is 5271 square feet. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal (not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development.

14. 2024-10-07
    listed $12,000 Active 1228-char remark

    Show marketing remark (1228 chars)

    Great investment opportunity in the Northeast Central District and awaiting your vision. Offered by the Detroit Landbank Authority, this home is a 3 bedroom bungalow included with the vacant land, 18610 Maine that is 5271 square feet. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal (not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development.

15. 2005-10-28
    historical
16. 2005-07-29
    historical
17. 2005-04-29
    listed $40,000
18. 2005-04-29
    listed $54,900
19. 2005-02-07
    historical
20. 2004-08-07
    listed $54,900

ⓘ 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: $240 · $20/mo
• Projected year-2 tax: $240 · $20/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: $15,361
• − Mortgage interest: −$672
• − Property taxes: −$240
• − Insurance: −$60
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$349
• Taxable income: $11,582
• Est. tax owed @ 24.0%: −$2,780
• After-tax cash flow: $8,300/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

-78.1% since first listed

8 events — show timeline

• 2024-10-07 Listed $12,000 MiRealSource-MiMLS
• 2024-10-07 Listed $12,000 REALCOMP
• 2005-10-28 Listing Removed — REALCOMP
• 2005-07-29 Listing Removed — MiRealSource-MiMLS
• 2005-04-29 Listed $54,900 MiRealSource-MiMLS
• 2005-04-29 Listed $40,000 REALCOMP
• 2005-02-07 Listing Removed — REALCOMP
• 2004-08-07 Listed $54,900 REALCOMP

Property tax history

+0.0%/yr

Latest (2016): $240 · +0.0% YoY. Source: county tax records.