18040 St Louis Ave · Detroit, MI 48234

$54,999

4 bd · 1.0 ba · 1,357 sqft · SingleFamily public records · 182 Days on market

Built 1923 5,227 sqft lot Est $85k · 36% under ↓ 58% since listing

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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

Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

Key facts

• 5,227 sq ft lot
• Built 1923
• Listed 182 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.3% vs local median 10.0% 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; 14 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).
• At $1,387/mo this rent would consume 47% 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 $380 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $20k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $55k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.52% ✓
• Cap rate: 20.34%
• Cash-on-cash: 50.17%
• DSCR: 3.23
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $85,491
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18057 Albany St	0.26mi	3/2.0 (-1)	1,350 (-0%)	5mo	$144,000	$107	74
18105 Caldwell St	0.38mi	3/1.0 (-1)	1,500 (+10%)	1mo	$35,000	$23	59
18811 Rogge St	0.64mi	3/1.5 (-1)	1,343 (-1%)	10mo	$125,000	$93	54
19210 Gable St	0.58mi	4/1.5	1,298 (-4%)	14mo	$79,000	$61	52
19178 Sherwood St	0.62mi	3/2.5 (-1)	1,381 (+2%)	8mo	$149,000	$108	50
17178 Gable St	0.47mi	3/1.0 (-1)	1,166 (-14%)	2mo	$17,000	$15	48
6732 Varjo St	0.36mi	3/1.0 (-1)	1,168 (-14%)	9mo	$73,500	$63	47
18665 Helen St	0.50mi	3/2.0 (-1)	1,248 (-8%)	9mo	$98,000	$79	47
19152 Helen St	0.67mi	4/2.0	1,302 (-4%)	15mo	$35,000	$27	46
18820 Moenart St	0.62mi	5/3.0 (+1)	1,450 (+7%)	1mo	$65,000	$45	46
7525 E Robinwood St	0.75mi	3/1.0 (-1)	1,253 (-8%)	13mo	$105,000	$84	37
18800 Fenelon St	0.75mi	3/1.0 (-1)	1,173 (-14%)	7mo	$50,000	$43	32

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: 52.4%
• Equity multiple: 3.44×
• Total profit: $37,543
• Equity at exit: $8,201

10-year hold

• IRR: 59.2%
• Equity multiple: 8.12×
• Total profit: $109,614
• Equity at exit: $4,755

Cash invested: $15,400 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$288
• Tax from tax record: −$141 /mo · $1,686/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $644

Break-even live

Break-even rent $572

Max offer price $54,999

Occupancy floor 49%

Sensitivity live

Price	-10% $675	-5% $659	+0% $644	+5% $628	+10% $613
Rent	-10% $534	-5% $589	+0% $644	+5% $699	+10% $753
Rate	-1.0pp $672	-0.5pp $658	base $644	+0.5pp $630	+1.0pp $615

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	0.61mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	45d	1	0.61mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,250	$1.09	0d	1	0.67mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	6d	1	0.76mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	26d	1	0.76mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.79mi
19682 Rogge St Detroit, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	1.04mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	1.04mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	18d	1	1.09mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	18d	1	1.23mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	45d	1	1.25mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	26d	1	1.31mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	18d	1	1.33mi
19458 Binder St Detroit, MI	3.0	1.5	1550	$1,500	$0.97	5d	1	1.45mi

Listing history 24 events

1. 2024-12-17
   status Pending 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

2. 2024-10-13
   status Pending 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

3. 2024-10-13
   status Pending 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

4. 2024-10-13
   status Pending

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

5. 2024-06-04
   price $54,999 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

6. 2024-06-04
   price $54,999 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

7. 2024-06-04
   price $54,999

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

8. 2024-05-18
   price $59,999 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

9. 2024-05-18
   price $59,999 202-char remark

   Show marketing remark (202 chars)

   Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

10. 2024-05-17
    price $59,999
11. 2024-04-17
    price $64,999 202-char remark

    Show marketing remark (202 chars)

    Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

12. 2024-04-17
    price $64,999

    Show marketing remark (202 chars)

    Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

13. 2024-04-14
    listed $74,999 Active 202-char remark

    Show marketing remark (202 chars)

    Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

14. 2024-04-14
    listed $64,999 Active 202-char remark

    Show marketing remark (202 chars)

    Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

15. 2024-04-14
    listed $74,999 Active

    Show marketing remark (202 chars)

    Four bedroom home , with one bath and half . Basement has extra two bedrooms . Property sold as is. Buyer must assume all municipal requirements. Buyer must verify all info: taxes, sq ft, features, etc.

16. 2006-11-02
    soldstatus $20,250
17. 2006-11-02
    soldstatus $20,250
18. 2006-10-13
    historical
19. 2006-06-09
    listed $22,900
20. 2006-06-09
    listed $22,900
21. 2005-02-22
    soldstatus $65,000
22. 1992-04-30
    soldstatus $336,000
23. 1992-04-30
    soldstatus $182,000
24. 1991-09-12
    soldstatus $130,000

ⓘ 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: $1,686 · $141/mo
• Projected year-2 tax: $1,686 · $141/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,643
• − Mortgage interest: −$3,081
• − Property taxes: −$1,686
• − Insurance: −$275
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$1,600
• Taxable income: $7,338
• Est. tax owed @ 24.0%: −$1,761
• After-tax cash flow: $5,965/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

-57.7% since first listed

24 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-10-13 Pending — REALCOMP
• 2024-10-13 Pending — MiRealSource-MiMLS
• 2024-10-13 Pending — SW Michigan MLS
• 2024-06-04 Price Changed $54,999 MiRealSource-MiMLS
• 2024-06-04 Price Changed $54,999 REALCOMP
• 2024-06-04 Price Changed $54,999 SW Michigan MLS
• 2024-05-18 Price Changed $59,999 MiRealSource-MiMLS
• 2024-05-18 Price Changed $59,999 REALCOMP
• 2024-05-17 Price Changed $59,999 SW Michigan MLS
• 2024-04-17 Price Changed $64,999 REALCOMP
• 2024-04-17 Price Changed $64,999 SW Michigan MLS
• 2024-04-14 Listed $74,999 SW Michigan MLS
• 2024-04-14 Listed $64,999 MiRealSource-MiMLS
• 2024-04-14 Listed $74,999 REALCOMP
• 2006-11-02 Sold (MLS) $20,250 MiRealSource-MiMLS
• 2006-11-02 Sold (MLS) $20,250 REALCOMP
• 2006-10-13 Listing Removed — MiRealSource-MiMLS
• 2006-06-09 Listed $22,900 MiRealSource-MiMLS
• 2006-06-09 Listed $22,900 REALCOMP
• 2005-02-22 Sold (Public Records) $65,000 Public Records
• 1992-04-30 Sold (Public Records) $182,000 Public Records
• 1992-04-30 Sold (Public Records) $336,000 Public Records
• 1991-09-12 Sold (Public Records) $130,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,686 · +112.1% YoY. Source: county tax records.