18281 Manor St · Detroit, MI 48221

$119,900

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 52 Days on market

Built 1942 3,485 sqft lot $136/sqft · 41% above area Est $160k · 25% under ↓ 20% since listing

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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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

Key facts

• 3,485 sq ft lot
• Built 1942
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

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 (+3.4%/yr); 349 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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

• It's been on market 52 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.07% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.75%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (median comp): $160,232
• List price: $119,900
• Delta: -25.17%
• 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
10710 Curtis St	0.09mi	2/1.0 (-1)	865 (-2%)	11mo	$37,500	$43	79
18081 Meyers Rd	0.14mi	2/1.5 (-1)	946 (+8%)	6mo	$75,000	$79	69
19161 Meyers Rd	0.48mi	2/1.0 (-1)	894 (+2%)	3mo	$87,500	$98	68
17365 Meyers Rd	0.40mi	2/1.0 (-1)	942 (+7%)	4mo	$49,000	$52	61
18234 Griggs St	0.31mi	3/2.0	939 (+7%)	16mo	$153,000	$163	57
18636 Washburn St	0.47mi	3/1.5	967 (+10%)	7mo	$62,500	$65	54
18619 Birwood St	0.29mi	3/1.0	1,000 (+14%)	12mo	$139,900	$140	53
18681 Ilene St	0.42mi	3/1.0	801 (-9%)	18mo	$120,000	$150	51
17308 Pinehurst St	0.48mi	3/1.0	1,000 (+14%)	10mo	$75,000	$75	47
18267 Stansbury St	0.73mi	3/1.0	926 (+5%)	12mo	$146,000	$158	47
16919 Littlefield St	0.74mi	3/2.0	980 (+11%)	5mo	$199,900	$204	39
16937 Birwood St	0.66mi	2/1.0 (-1)	960 (+9%)	13mo	$55,000	$57	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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,288
• Equity at exit: $17,877

10-year hold

• IRR: 7.5%
• Equity multiple: 1.58×
• Total profit: $19,486
• Equity at exit: $10,367

Cash invested: $33,572 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,278 high
• Mortgage (P&I): −$629
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $245

Break-even live

Break-even rent $968

Max offer price $119,900

Occupancy floor 76%

Sensitivity live

Price	-10% $313	-5% $279	+0% $245	+5% $211	+10% $177
Rent	-10% $144	-5% $194	+0% $245	+5% $295	+10% $346
Rate	-1.0pp $305	-0.5pp $275	base $245	+0.5pp $214	+1.0pp $182

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	44d	1	0.27mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	0.49mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	25d	1	0.54mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	0.65mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	6d	1	0.92mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.92mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	6d	1	0.96mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.97mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	18d	1	0.97mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	21d	1	1.07mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	1.11mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	19d	1	1.12mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	1.13mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	18d	1	1.21mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	3d	1	1.23mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	44d	1	1.24mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	1.26mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.27mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	18d	1	1.28mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	1.28mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	44d	1	1.31mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.31mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	1.32mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	6d	1	1.35mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.35mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	18d	1	1.35mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.38mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	1.38mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	6d	1	1.39mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	25d	1	1.39mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	25d	1	1.40mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	1.41mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	44d	1	1.41mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	19d	1	1.44mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	19d	1	1.45mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	1.46mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	25d	1	1.47mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	1.48mi

Listing history 16 events

1. 2026-05-18
   status Pending 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

2. 2026-05-18
   status Pending 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

3. 2026-04-24
   status Active 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

4. 2026-04-24
   status Active 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

5. 2026-04-22
   status Pending 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

6. 2026-04-22
   status Pending 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

7. 2026-04-16
   status Active 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

8. 2026-04-16
   status Active 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

9. 2026-03-08
   status Pending 77-char remark

   Show marketing remark (77 chars)

   Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

10. 2026-03-08
    status Pending 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

11. 2026-03-05
    price $119,900 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

12. 2026-03-05
    price $119,900 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

13. 2026-03-04
    price $134,900 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

14. 2026-03-03
    price $134,900 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

15. 2026-02-14
    listed $149,900 Active 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

16. 2026-02-14
    listed $149,900 Active 77-char remark

    Show marketing remark (77 chars)

    Nice 3 bedroom brick bungalow perfect for a first time buyer or small family.

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,440 · $120/mo
• Expected delta: +$407/yr (+$34/mo · 39.4%)

ⓘ 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: $15,336
• − Mortgage interest: −$6,716
• − Property taxes: −$1,033
• − Insurance: −$600
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$3,488
• Taxable income: $1,046
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $2,687/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

-20.0% since first listed

16 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-04-24 Relisted — MiRealSource-MiMLS
• 2026-04-24 Relisted — REALCOMP
• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-22 Pending — REALCOMP
• 2026-04-16 Relisted — MiRealSource-MiMLS
• 2026-04-16 Relisted — REALCOMP
• 2026-03-08 Pending — MiRealSource-MiMLS
• 2026-03-08 Pending — REALCOMP
• 2026-03-05 Price Changed $119,900 MiRealSource-MiMLS
• 2026-03-05 Price Changed $119,900 REALCOMP
• 2026-03-04 Price Changed $134,900 MiRealSource-MiMLS
• 2026-03-03 Price Changed $134,900 REALCOMP
• 2026-02-14 Listed $149,900 REALCOMP
• 2026-02-14 Listed $149,900 MiRealSource-MiMLS

Property tax history

-1.3%/yr

Latest (2025): $1,033 · -53.8% YoY. Source: county tax records.