17193 Marx St · Detroit, MI 48203

$40,000

4 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 17 Days on market

Built 1930 3,485 sqft lot Est $55k · 27% under

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

Listing remarks MLS

Discover this hidden gem in the heart of Detroit! This charming four-bedroom, one-bath brick bungalow is a perfect opportunity for handymen and investors looking for their next fixer-upper project. With an additional parcel included, this property offers ample space for creativity and expansion. With its solid brick exterior, the home boasts great potential for renovation and modern updates. Imagine transforming the spacious interior into a comfortable haven or investment rental. The extra lot opens possibilities for landscaping, gardening, or even future construction. Don't miss this chance to invest in a property with so much potential - this diamond in the rough is waiting for your personal touch! Schedule a showing today and explore the possibilities!

Key facts

• Extra lot
• Brick bungalow
• Spacious interior

Tags

• BRICK BUNGALOW
• ADDITIONAL PARCEL
• SOLID BRICK EXTERIOR
• SPACIOUS INTERIOR
• EXTRA LOT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 31.4% 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: 216 active listings in the ZIP; 12 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 44% of the median local income ($38k/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 $277 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $10k; list at $40k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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.
6. 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.
7. 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: 3.55% ✓
• Cap rate: 31.42%
• Cash-on-cash: 89.72%
• DSCR: 4.99
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $54,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17520 Goddard Street St	0.36mi	4/2.0	1,302 (-0%)	3mo	$54,900	$42	77
17496 Saint Aubin St	0.23mi	4/1.5	1,377 (+6%)	5mo	$25,000	$18	74
18051 Orleans St	0.44mi	4/2.0	1,300 (-0%)	9mo	$39,000	$30	68
18101 Marx St	0.48mi	3/1.5 (-1)	1,291 (-1%)	2mo	$37,500	$29	67
18057 Fleming st St	0.52mi	4/2.0	1,250 (-4%)	7mo	$127,000	$102	59
17421 Oakland St	0.56mi	5/1.5 (+1)	1,269 (-3%)	10mo	$66,000	$52	54
17428 Goddard St	0.32mi	3/1.5 (-1)	1,409 (+8%)	13mo	$75,000	$53	54
18532 Riopelle St	0.63mi	3/1.0 (-1)	1,248 (-4%)	9mo	$64,000	$51	51
13953 Mackay St	0.55mi	3/1.0 (-1)	1,138 (-13%)	4mo	$34,000	$30	45
18025 Brinker St	0.68mi	4/2.0	1,416 (+9%)	10mo	$40,000	$28	42
18595 Dequindre St	0.68mi	3/1.5 (-1)	1,393 (+7%)	13mo	$70,000	$50	38
17314 Brush St	0.69mi	3/1.0 (-1)	1,144 (-12%)	16mo	$26,300	$23	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 90.4%
• Equity multiple: 5.19×
• Total profit: $46,880
• Equity at exit: $5,964

10-year hold

• IRR: 93.3%
• Equity multiple: 10.79×
• Total profit: $109,605
• Equity at exit: $3,458

Cash invested: $11,200 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$210
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $837

Break-even live

Break-even rent $359

Max offer price $40,000

Occupancy floor 36%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.59mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.63mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.74mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	17d	1	0.86mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.93mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	1.10mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	24d	1	1.15mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.40mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	1.42mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	1.42mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.49mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.50mi

Listing history 7 events

1. 2025-12-27
   status Pending

   Show marketing remark (765 chars)

   Discover this hidden gem in the heart of Detroit! This charming four-bedroom, one-bath brick bungalow is a perfect opportunity for handymen and investors looking for their next fixer-upper project. With an additional parcel included, this property offers ample space for creativity and expansion. With its solid brick exterior, the home boasts great potential for renovation and modern updates. Imagine transforming the spacious interior into a comfortable haven or investment rental. The extra lot opens possibilities for landscaping, gardening, or even future construction. Don't miss this chance to invest in a property with so much potential - this diamond in the rough is waiting for your personal touch! Schedule a showing today and explore the possibilities!

2. 2025-12-27
   status Pending 765-char remark

   Show marketing remark (765 chars)

   Discover this hidden gem in the heart of Detroit! This charming four-bedroom, one-bath brick bungalow is a perfect opportunity for handymen and investors looking for their next fixer-upper project. With an additional parcel included, this property offers ample space for creativity and expansion. With its solid brick exterior, the home boasts great potential for renovation and modern updates. Imagine transforming the spacious interior into a comfortable haven or investment rental. The extra lot opens possibilities for landscaping, gardening, or even future construction. Don't miss this chance to invest in a property with so much potential - this diamond in the rough is waiting for your personal touch! Schedule a showing today and explore the possibilities!

3. 2025-12-24
   historical Accepting Backup Offers 765-char remark

   Show marketing remark (765 chars)

   Discover this hidden gem in the heart of Detroit! This charming four-bedroom, one-bath brick bungalow is a perfect opportunity for handymen and investors looking for their next fixer-upper project. With an additional parcel included, this property offers ample space for creativity and expansion. With its solid brick exterior, the home boasts great potential for renovation and modern updates. Imagine transforming the spacious interior into a comfortable haven or investment rental. The extra lot opens possibilities for landscaping, gardening, or even future construction. Don't miss this chance to invest in a property with so much potential - this diamond in the rough is waiting for your personal touch! Schedule a showing today and explore the possibilities!

4. 2025-12-24
   historical Active Under Contract

   Show marketing remark (765 chars)

   Discover this hidden gem in the heart of Detroit! This charming four-bedroom, one-bath brick bungalow is a perfect opportunity for handymen and investors looking for their next fixer-upper project. With an additional parcel included, this property offers ample space for creativity and expansion. With its solid brick exterior, the home boasts great potential for renovation and modern updates. Imagine transforming the spacious interior into a comfortable haven or investment rental. The extra lot opens possibilities for landscaping, gardening, or even future construction. Don't miss this chance to invest in a property with so much potential - this diamond in the rough is waiting for your personal touch! Schedule a showing today and explore the possibilities!

5. 2025-12-10
   listed $40,000 Active
6. 2025-12-05
   listed $40,000 Active 765-char remark

   Show marketing remark (765 chars)

   Discover this hidden gem in the heart of Detroit! This charming four-bedroom, one-bath brick bungalow is a perfect opportunity for handymen and investors looking for their next fixer-upper project. With an additional parcel included, this property offers ample space for creativity and expansion. With its solid brick exterior, the home boasts great potential for renovation and modern updates. Imagine transforming the spacious interior into a comfortable haven or investment rental. The extra lot opens possibilities for landscaping, gardening, or even future construction. Don't miss this chance to invest in a property with so much potential - this diamond in the rough is waiting for your personal touch! Schedule a showing today and explore the possibilities!

7. 1998-07-30
   soldstatus $9,500

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $683 · $57/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: $17,025
• − Mortgage interest: −$2,241
• − Property taxes: −$683
• − Insurance: −$200
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$1,164
• Taxable income: $10,013
• Est. tax owed @ 24.0%: −$2,403
• After-tax cash flow: $7,646/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
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

+321.1% since first listed

7 events — show timeline

• 2025-12-27 Pending — REALCOMP
• 2025-12-27 Pending — MiRealSource-MiMLS
• 2025-12-24 Contingent — MiRealSource-MiMLS
• 2025-12-24 Contingent — REALCOMP
• 2025-12-10 Listed $40,000 REALCOMP
• 2025-12-05 Listed $40,000 MiRealSource-MiMLS
• 1998-07-30 Sold (Public Records) $9,500 Public Records

Property tax history

-0.4%/yr

Latest (2025): $683 · -40.6% YoY. Source: county tax records.