20118 Moenart St · Detroit, MI 48234

$67,500

3 bd · 1.0 ba · 996 sqft · SingleFamily public records · 25 Days on market

Built 1926 3,920 sqft lot $68/sqft · 25% below area Est $82k · 17% 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
• 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

Charming bungalow situated on a desirable corner lot, this home offers 3-bedrooms and 1-bath home features new flooring throughout the main level, creating a fresh and cohesive feel. The living room is bright and welcoming, filled with natural light from numerous windows that enhance the home's warm and inviting atmosphere. The layout offers comfortable living spaces with flexibility for a variety of needs. Step outside to enjoy the fenced backyard - perfect for pets, gardening, or entertaining - along with a spacious 2-car detached garage providing ample storage and parking. Close to I-75, I-94 and I-696 for an easy commute. Many downtown areas, shopping and dining nearby. This home is being sold “As Is” and needs a little TLC. Don't miss this great opportunity. Schedule your private showing today.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1926

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 10.1% 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); 227 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $1,334/mo this rent would consume 45% of the median local household income ($35k/yr) (locally 2372% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 9 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,487 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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: 1.98% ✓
• Cap rate: 16.87%
• Cash-on-cash: 37.78%
• DSCR: 2.68
• GRM: 4.2

CMA / ARV

• ARV (median comp): $81,659
• List price: $67,500
• Delta: -17.34%
• 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
19608 Buffalo St	0.40mi	3/1.0	1,014 (+2%)	1mo	$68,000	$67	77
19392 Justine St	0.65mi	3/1.0	1,000 (+0%)	3mo	$45,000	$45	66
19672 Justine St	0.55mi	3/1.0	1,050 (+5%)	2mo	$47,500	$45	64
19416 Lamont St	0.51mi	3/1.5	1,065 (+7%)	1mo	$9,000	$8	62
19437 Conley St	0.46mi	3/1.0	912 (-8%)	4mo	$28,500	$31	61
19451 Conley St	0.44mi	3/1.0	900 (-10%)	3mo	$54,000	$60	61
19610 Conley St	0.41mi	3/1.0	1,120 (+12%)	0mo	$80,000	$71	60
19235 Lamont St	0.66mi	2/1.0 (-1)	960 (-4%)	1mo	$40,000	$42	58
19442 Moenart St	0.42mi	3/1.5	1,145 (+15%)	2mo	$74,999	$66	51
19366 Fenelon St	0.53mi	3/1.5	1,108 (+11%)	4mo	$70,000	$63	51
20811 Sunset Ave	0.68mi	3/1.0	1,090 (+9%)	3mo	$122,000	$112	50
20012 Binder St	0.73mi	3/1.0	871 (-13%)	3mo	$50,500	$58	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: 37.9%
• Equity multiple: 2.70×
• Total profit: $32,153
• Equity at exit: $10,064

10-year hold

• IRR: 46.3%
• Equity multiple: 6.28×
• Total profit: $99,808
• Equity at exit: $5,836

Cash invested: $18,900 (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: 227
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$354
• Tax from tax record: −$77 /mo · $923/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $595

Break-even live

Break-even rent $581

Max offer price $67,500

Occupancy floor 50%

Sensitivity live

Price	-10% $633	-5% $614	+0% $595	+5% $576	+10% $557
Rent	-10% $490	-5% $542	+0% $595	+5% $648	+10% $700
Rate	-1.0pp $629	-0.5pp $612	base $595	+0.5pp $577	+1.0pp $560

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	17d	1	0.15mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	44d	1	0.40mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	0.45mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	0.49mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	25d	1	0.56mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	0.57mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	25d	1	0.62mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	44d	1	0.67mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.68mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.76mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	0.77mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	0.77mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	44d	1	0.77mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	0.98mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.06mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	19d	1	1.07mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.09mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	6d	1	1.11mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	44d	1	1.12mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	12d	1	1.15mi
22622 Panama Ave Warren, MI	3.0	1.5	920	$1,395	$1.52	12d	1	1.15mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	44d	1	1.19mi
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	25d	1	1.22mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	1.25mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.25mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	25d	1	1.28mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	23d	1	1.36mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	25d	1	1.37mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	25d	1	1.46mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.48mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	25d	1	1.48mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.49mi

Listing history 21 events

1. 2026-05-12
   status Pending 842-char remark

   Show marketing remark (842 chars)

   Charming bungalow situated on a desirable corner lot, this home offers 3-bedrooms and 1-bath home features new flooring throughout the main level, creating a fresh and cohesive feel. The living room is bright and welcoming, filled with natural light from numerous windows that enhance the home’s warm and inviting atmosphere. The layout offers comfortable living spaces with flexibility for a variety of needs. Step outside to enjoy the fenced backyard—perfect for pets, gardening, or entertaining—along with a spacious 2-car detached garage providing ample storage and parking. Close to I-75, I-94 and I-696 for an easy commute. Many downtown areas, shopping and dining nearby. This home is being sold “As Is” and needs a little TLC. Don’t miss this great opportunity. Schedule your private showing today.

2. 2026-05-12
   status Pending 842-char remark

   Show marketing remark (842 chars)

   Charming bungalow situated on a desirable corner lot, this home offers 3-bedrooms and 1-bath home features new flooring throughout the main level, creating a fresh and cohesive feel. The living room is bright and welcoming, filled with natural light from numerous windows that enhance the home’s warm and inviting atmosphere. The layout offers comfortable living spaces with flexibility for a variety of needs. Step outside to enjoy the fenced backyard—perfect for pets, gardening, or entertaining—along with a spacious 2-car detached garage providing ample storage and parking. Close to I-75, I-94 and I-696 for an easy commute. Many downtown areas, shopping and dining nearby. This home is being sold “As Is” and needs a little TLC. Don’t miss this great opportunity. Schedule your private showing today.

3. 2026-04-18
   listed $67,500 Active 842-char remark

   Show marketing remark (842 chars)

   Charming bungalow situated on a desirable corner lot, this home offers 3-bedrooms and 1-bath home features new flooring throughout the main level, creating a fresh and cohesive feel. The living room is bright and welcoming, filled with natural light from numerous windows that enhance the home's warm and inviting atmosphere. The layout offers comfortable living spaces with flexibility for a variety of needs. Step outside to enjoy the fenced backyard - perfect for pets, gardening, or entertaining - along with a spacious 2-car detached garage providing ample storage and parking. Close to I-75, I-94 and I-696 for an easy commute. Many downtown areas, shopping and dining nearby. This home is being sold “As Is” and needs a little TLC. Don't miss this great opportunity. Schedule your private showing today.

4. 2026-04-18
   listed $67,500 Active 842-char remark

   Show marketing remark (842 chars)

   Charming bungalow situated on a desirable corner lot, this home offers 3-bedrooms and 1-bath home features new flooring throughout the main level, creating a fresh and cohesive feel. The living room is bright and welcoming, filled with natural light from numerous windows that enhance the home's warm and inviting atmosphere. The layout offers comfortable living spaces with flexibility for a variety of needs. Step outside to enjoy the fenced backyard - perfect for pets, gardening, or entertaining - along with a spacious 2-car detached garage providing ample storage and parking. Close to I-75, I-94 and I-696 for an easy commute. Many downtown areas, shopping and dining nearby. This home is being sold “As Is” and needs a little TLC. Don't miss this great opportunity. Schedule your private showing today.

5. 2026-04-17
   historical $67,500 842-char remark

   Show marketing remark (842 chars)

   Charming bungalow situated on a desirable corner lot, this home offers 3-bedrooms and 1-bath home features new flooring throughout the main level, creating a fresh and cohesive feel. The living room is bright and welcoming, filled with natural light from numerous windows that enhance the home's warm and inviting atmosphere. The layout offers comfortable living spaces with flexibility for a variety of needs. Step outside to enjoy the fenced backyard - perfect for pets, gardening, or entertaining - along with a spacious 2-car detached garage providing ample storage and parking. Close to I-75, I-94 and I-696 for an easy commute. Many downtown areas, shopping and dining nearby. This home is being sold “As Is” and needs a little TLC. Don't miss this great opportunity. Schedule your private showing today.

6. 2010-02-26
   historical
7. 2010-01-28
   listed $3,500
8. 2009-12-31
   historical
9. 2009-01-04
   listed $3,500
10. 2008-12-13
    historical
11. 2008-09-22
    listed $38,000
12. 2005-02-14
    soldstatus $76,000
13. 2004-08-23
    historical
14. 2004-06-16
    listed $69,900
15. 2004-06-16
    historical
16. 2004-05-06
    listed $74,500
17. 2004-05-06
    historical
18. 2004-04-06
    listed $79,500
19. 2004-04-05
    historical
20. 2004-01-23
    listed $79,500
21. 1991-05-24
    soldstatus $10,000

ⓘ 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: $923 · $77/mo
• Projected year-2 tax: $981 · $82/mo
• Expected delta: +$58/yr (+$5/mo · 6.3%)

ⓘ 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: $16,010
• − Mortgage interest: −$3,781
• − Property taxes: −$923
• − Insurance: −$338
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$1,964
• Taxable income: $6,443
• Est. tax owed @ 24.0%: −$1,546
• After-tax cash flow: $5,593/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

+575.0% since first listed

21 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-04-18 Listed $67,500 REALCOMP
• 2026-04-18 Listed $67,500 MiRealSource-MiMLS
• 2026-04-17 Coming Soon $67,500 MiRealSource-MiMLS
• 2010-02-26 Listing Removed — REALCOMP
• 2010-01-28 Listed $3,500 REALCOMP
• 2009-12-31 Listing Removed — REALCOMP
• 2009-01-04 Listed $3,500 REALCOMP
• 2008-12-13 Listing Removed — REALCOMP
• 2008-09-22 Listed $38,000 REALCOMP
• 2005-02-14 Sold (Public Records) $76,000 Public Records
• 2004-08-23 Listing Removed — REALCOMP
• 2004-06-16 Listing Removed — REALCOMP
• 2004-06-16 Listed $69,900 REALCOMP
• 2004-05-06 Listing Removed — REALCOMP
• 2004-05-06 Listed $74,500 REALCOMP
• 2004-04-06 Listed $79,500 REALCOMP
• 2004-04-05 Listing Removed — REALCOMP
• 2004-01-23 Listed $79,500 REALCOMP
• 1991-05-24 Sold (Public Records) $10,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $923 · -47.9% YoY. Source: county tax records.