157 W Nevada St · Detroit, MI 48203

$109,999

3 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 35 Days on market

Built 1921 3,920 sqft lot $87/sqft · 7% above area Est $103k · 7% over ↓ 7% 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +7.5/10.0
• ARV discount +4.6/15.0
• 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

Charming 3 bedroom, 1.5 bath bungalow featuring fresh paint throughout and updated flooring for a bright, move-in ready feel. Enjoy relaxing on the spacious covered front porch and cozy evenings in the living room with a faux brick fireplace. The updated kitchen offers refreshed cabinetry and countertops, while the updated bathroom features a beautifully tiled shower. Unfinished basement with half bath provides excellent storage space or potential for additional living space to fit your needs.

Key facts

• 3,920 sq ft lot
• Built 1921
• Listed 34 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation; Asphalt roof; Built area above grade: 1,264 (units not listed here)
• Exterior features: Patio; Paved road access

Interior

• Kitchen: Free-standing gas oven; Free-standing refrigerator; Gas water heater
• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating; Natural gas heating; No cooling system
• Interior features: Unfurnished; Unfinished basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (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: 216 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 ($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 $760 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 19y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2k; list at $110k implies a 5689% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,699 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1921 — 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: 1.25% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.37%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $103,243
• List price: $109,999
• Delta: 6.54%
• 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
140 W Margaret St	0.14mi	3/1.0	1,258 (-0%)	8mo	$23,000	$18	86
517 W Hollywood	0.48mi	3/2.5	1,200 (-5%)	2mo	$110,000	$92	61
101 Stevens St	0.55mi	3/1.5	1,200 (-5%)	6mo	$75,000	$63	59
128 E Montana St	0.28mi	3/2.0	1,344 (+6%)	22mo	$179,900	$134	54
50 Eason St	0.66mi	3/1.5	1,162 (-8%)	1mo	$47,500	$41	53
194 E Savannah St	0.35mi	3/2.0	1,344 (+6%)	22mo	$179,000	$133	51
17314 Brush St	0.50mi	3/1.0	1,144 (-10%)	16mo	$26,300	$23	47
165 Geneva St	0.68mi	3/2.0	1,283 (+2%)	24mo	$109,900	$86	42
116 Church St	0.64mi	3/1.5	1,400 (+11%)	15mo	$106,500	$76	38
194 Candler St	0.72mi	3/1.5	1,152 (-9%)	17mo	$27,500	$24	36
19189 Keating St	0.68mi	3/2.0	1,438 (+14%)	17mo	$85,000	$59	27
135 Church St	0.61mi	3/2.0	1,074 (-15%)	23mo	$78,000	$73	24

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $2,422
• Equity at exit: $16,401

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $28,248
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$577
• Tax from tax record: −$143 /mo · $1,719/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $318

Break-even live

Break-even rent $969

Max offer price $109,999

Occupancy floor 72%

Sensitivity live

Price	-10% $380	-5% $349	+0% $318	+5% $286	+10% $255
Rent	-10% $209	-5% $263	+0% $318	+5% $372	+10% $426
Rate	-1.0pp $373	-0.5pp $345	base $318	+0.5pp $289	+1.0pp $260

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.37mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.37mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	0.38mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	0.45mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.53mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	0.57mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	0.65mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.65mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.65mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	44d	1	0.65mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	0.70mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	0.70mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	0.98mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.98mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.04mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	1.06mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	1.19mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.21mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	1.24mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.37mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.40mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	1.50mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.50mi

Listing history 45 events

1. 2026-06-18
   days on market $109,999 Active 35 DOM
2. 2026-06-17
   days on market $109,999 Active 34 DOM
3. 2026-06-15
   days on market $109,999 Active 32 DOM
4. 2026-06-13
   days on market $109,999 Active 30 DOM
5. 2026-06-13
   days on market $109,999 Active 29 DOM
6. 2026-06-10
   price $109,999 Active 26 DOM

   Show marketing remark (498 chars)

   Charming 3 bedroom, 1.5 bath bungalow featuring fresh paint throughout and updated flooring for a bright, move-in ready feel. Enjoy relaxing on the spacious covered front porch and cozy evenings in the living room with a faux brick fireplace. The updated kitchen offers refreshed cabinetry and countertops, while the updated bathroom features a beautifully tiled shower. Unfinished basement with half bath provides excellent storage space or potential for additional living space to fit your needs.

7. 2026-06-09
   days on market $119,999 Active 26 DOM
8. 2026-06-08
   days on market $119,999 Active 25 DOM
9. 2026-06-07
   days on market $119,999 Active 24 DOM
10. 2026-06-04
    days on market $119,999 Active 21 DOM
11. 2026-06-03
    days on market $119,999 Active 20 DOM
12. 2026-06-02
    days on market $119,999 Active 19 DOM
13. 2026-06-01
    days on market $119,999 Active 18 DOM
14. 2026-05-31
    days on market $119,999 Active 17 DOM
15. 2026-05-15
    listed $119,999 Active 498-char remark

    Show marketing remark (498 chars)

    Charming 3 bedroom, 1.5 bath bungalow featuring fresh paint throughout and updated flooring for a bright, move-in ready feel. Enjoy relaxing on the spacious covered front porch and cozy evenings in the living room with a faux brick fireplace. The updated kitchen offers refreshed cabinetry and countertops, while the updated bathroom features a beautifully tiled shower. Unfinished basement with half bath provides excellent storage space or potential for additional living space to fit your needs.

16. 2026-05-15
    listed $119,999 Active 498-char remark

    Show marketing remark (498 chars)

    Charming 3 bedroom, 1.5 bath bungalow featuring fresh paint throughout and updated flooring for a bright, move-in ready feel. Enjoy relaxing on the spacious covered front porch and cozy evenings in the living room with a faux brick fireplace. The updated kitchen offers refreshed cabinetry and countertops, while the updated bathroom features a beautifully tiled shower. Unfinished basement with half bath provides excellent storage space or potential for additional living space to fit your needs.

17. 2026-05-13
    historical $119,999 498-char remark

    Show marketing remark (498 chars)

    Charming 3 bedroom, 1.5 bath bungalow featuring fresh paint throughout and updated flooring for a bright, move-in ready feel. Enjoy relaxing on the spacious covered front porch and cozy evenings in the living room with a faux brick fireplace. The updated kitchen offers refreshed cabinetry and countertops, while the updated bathroom features a beautifully tiled shower. Unfinished basement with half bath provides excellent storage space or potential for additional living space to fit your needs.

18. 2026-04-02
    historical
19. 2026-04-02
    historical
20. 2026-02-04
    listed $139,900 Active
21. 2026-02-04
    listed $139,900 Active
22. 2026-01-30
    historical
23. 2026-01-30
    historical
24. 2026-01-11
    price $149,800
25. 2026-01-11
    price $149,800
26. 2025-12-11
    listed $149,900 Active
27. 2025-12-11
    listed $149,900 Active
28. 2025-12-04
    historical
29. 2025-12-04
    historical
30. 2025-10-26
    listed $149,900 Active
31. 2025-10-25
    listed $149,900 Active
32. 2009-01-30
    historical
33. 2008-11-18
    soldstatus $1,900
34. 2008-11-18
    soldstatus $1,900
35. 2008-11-17
    historical
36. 2008-11-03
    listed $1,900
37. 2008-11-03
    listed $1,900
38. 2008-10-30
    historical
39. 2008-10-08
    historical
40. 2008-07-17
    listed $1,900
41. 2008-07-17
    historical
42. 2007-12-12
    listed $16,900
43. 2007-12-09
    listed $1,900
44. 2007-12-09
    listed $19,900
45. 2006-09-18
    soldstatus $118,000

ⓘ 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: $1,719 · $143/mo
• Projected year-2 tax: $1,719 · $143/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 2/10 Low 7 d/yr ≥97°F today · 14 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: $16,457
• − Mortgage interest: −$6,162
• − Property taxes: −$1,719
• − Insurance: −$550
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$3,200
• Taxable income: $2,194
• Est. tax owed @ 24.0%: −$526
• After-tax cash flow: $3,284/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): 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

-6.8% since first listed

33 events — show timeline

• 2026-06-10 Price Changed $109,999 MiRealSource-MiMLS
• 2026-06-09 Price Changed $109,999 REALCOMP
• 2026-05-15 Listed $119,999 MiRealSource-MiMLS
• 2026-05-15 Listed $119,999 REALCOMP
• 2026-05-13 Coming Soon $119,999 MiRealSource-MiMLS
• 2026-04-02 Listing Removed — MiRealSource-MiMLS
• 2026-04-02 Listing Removed — REALCOMP
• 2026-02-04 Listed $139,900 MiRealSource-MiMLS
• 2026-02-04 Listed $139,900 REALCOMP
• 2026-01-30 Listing Removed — MiRealSource-MiMLS
• 2026-01-30 Listing Removed — REALCOMP
• 2026-01-11 Price Changed $149,800 MiRealSource-MiMLS
• 2026-01-11 Price Changed $149,800 REALCOMP
• 2025-12-11 Listed $149,900 MiRealSource-MiMLS
• 2025-12-11 Listed $149,900 REALCOMP
• 2025-12-04 Listing Removed — REALCOMP
• 2025-12-04 Listing Removed — MiRealSource-MiMLS
• 2025-10-26 Listed $149,900 REALCOMP
• 2025-10-25 Listed $149,900 MiRealSource-MiMLS
• 2009-01-30 Listing Removed — MiRealSource-MiMLS
• 2008-11-18 Sold (MLS) $1,900 REALCOMP
• 2008-11-18 Sold (MLS) $1,900 MiRealSource-MiMLS
• 2008-11-17 Listing Removed — MiRealSource-MiMLS
• 2008-11-03 Listed $1,900 REALCOMP
• 2008-11-03 Listed $1,900 MiRealSource-MiMLS
• 2008-10-30 Listing Removed — REALCOMP
• 2008-10-08 Listing Removed — MiRealSource-MiMLS
• 2008-07-17 Listing Removed — MiRealSource-MiMLS
• 2008-07-17 Listed $1,900 MiRealSource-MiMLS
• 2007-12-12 Listed $16,900 MiRealSource-MiMLS
• 2007-12-09 Listed $19,900 MiRealSource-MiMLS
• 2007-12-09 Listed $1,900 REALCOMP
• 2006-09-18 Sold (Public Records) $118,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,719 · +195.3% YoY. Source: county tax records.