18705 Delaware Ave · Livonia, MI 48240

$149,900

2 bd · 1.0 ba · 773 sqft · SingleFamily public records · 65 Days on market

Built 1954 5,227 sqft lot Est $146k · at est.

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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 +21.7/30.0
• DSCR +6.9/10.0
• ARV discount +6.3/15.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

Key facts

• Functional kitchen
• Single family home
• Desirable location

Tags

• SINGLE FAMILY HOME
• FUNCTIONAL KITCHEN
• GREAT POTENTIAL FOR GARDENING
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.9% in Livonia — 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 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beech Elementary (math 2% / reading 17%, grade F, #1,277 of 1,397 statewide, top 93%, 453 students, 83% FRL); Hilbert Middle School (math 8% / reading 25%, grade F, #446 of 493 statewide, top 90%, 398 students, 75% FRL); Redford Union High School (math 15% / reading 34%, grade F, #476 of 713 statewide, top 67%, 736 students, 70% FRL).
• Market conditions: 90 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 $1k 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 65 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y 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.
• Current owner paid $57k; list at $150k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.02% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $146,097
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18705 Delaware Ave	0.00mi	2/1.0	773 (0%)	0mo	$140,000	$181	100
18714 Gaylord	0.03mi	2/1.0	693 (-10%)	2mo	$165,000	$238	80
19357 Centralia	0.55mi	3/1.0 (+1)	788 (+2%)	2mo	$70,000	$89	64
19498 Poinciana	0.59mi	2/1.0	800 (+4%)	3mo	$147,500	$184	64
19363 Centralia	0.56mi	2/1.0	737 (-5%)	9mo	$143,000	$194	59
19754 Negaunee	0.62mi	2/1.0	731 (-5%)	8mo	$139,200	$190	56
17606 Norborne	0.64mi	3/2.0 (+1)	818 (+6%)	1mo	$157,500	$193	51
19349 Negaunee	0.43mi	2/1.0	872 (+13%)	10mo	$127,000	$146	50
18515 Sumner	0.69mi	2/1.0	860 (+11%)	5mo	$87,000	$101	44
19134 Angling St	0.73mi	3/1.0 (+1)	873 (+13%)	1mo	$165,000	$189	38
19493 Negaunee	0.57mi	3/1.0 (+1)	888 (+15%)	6mo	$157,500	$177	38
18531 Pershing St	0.58mi	3/1.0 (+1)	880 (+14%)	10mo	$230,000	$261	37

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-9,689
• Equity at exit: $22,351

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $10,332
• Equity at exit: $12,961

Cash invested: $41,972 (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 48240

• Active inventory: 90
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,531 high
• Mortgage (P&I): −$786
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $229

Break-even live

Break-even rent $1,240

Max offer price $149,900

Occupancy floor 80%

Sensitivity live

Price	-10% $314	-5% $272	+0% $229	+5% $187	+10% $145
Rent	-10% $108	-5% $169	+0% $229	+5% $290	+10% $350
Rate	-1.0pp $305	-0.5pp $268	base $229	+0.5pp $191	+1.0pp $151

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26539 Clarita Redford, MI	3.0	1.5	931	$1,875	$2.01	26d	1	0.04mi
19354 Seminole Redford, MI	3.0	1.0	1050	$1,450	$1.38	26d	1	0.51mi
18405 Gillman St Livonia, MI	3.0	2.0	1014	$1,950	$1.92	7d	1	0.88mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	26d	1	0.95mi
20091 Inkster Rd Livonia, MI	2.0	1.0	756	$1,400	$1.85	7d	1	0.98mi
20524 Indian Redford, MI	3.0	1.0	988	$1,600	$1.62	26d	1	1.06mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	14d	1	1.11mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	26d	1	1.28mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	7d	1	1.37mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	13d	1	1.37mi
20410 Five Points St Redford, MI	3.0	1.0	950	$1,600	$1.68	7d	1	1.38mi
20745 Saint Francis Unit 101 Farmington Hills, MI	2.0	1.0	900	$1,495	$1.66	45d	1	1.39mi
20745 Saint Francis Unit 208 Farmington Hills, MI	2.0	1.0	900	$1,395	$1.55	17d	1	1.39mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	45d	1	1.41mi
24651 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	45d	4	1.41mi
29200 Dardanella St Livonia, MI	1.0–2.0	1.0	825	$1,230	$1.49	1d	5	1.42mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	45d	3	1.44mi
25304 Shiawassee Cir #105 Southfield, MI	1.0	1.0	700	$1,050	$1.50	45d	1	1.47mi
25740 Shiawassee St Southfield, MI	1.0–2.0	1.0	850	$1,253	$1.47	45d	10	1.47mi

Listing history 19 events

1. 2026-04-23
   status Pending 310-char remark

   Show marketing remark (310 chars)

   Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

2. 2026-04-23
   status Pending 310-char remark

   Show marketing remark (310 chars)

   Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

3. 2026-04-23
   status Pending

   Show marketing remark (310 chars)

   Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

4. 2026-02-17
   listed $149,900 Active 310-char remark

   Show marketing remark (310 chars)

   Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

5. 2026-02-16
   listed $149,900 Active 310-char remark

   Show marketing remark (310 chars)

   Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

6. 2026-02-16
   listed $149,900 Active

   Show marketing remark (310 chars)

   Charming 2BR/1BA single-family home in a beautiful Redford Twp. Bright living area, functional kitchen, and cozy bedroom. Yard offers great potential for gardening, entertaining, or relaxing. A rare opportunity for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a desirable location

7. 2018-03-06
   soldstatus $57,100
8. 2018-03-02
   soldstatus $57,000 Sold
9. 2018-03-02
   soldstatus $57,000 Closed
10. 2018-01-27
    status Pending
11. 2018-01-27
    status Pending
12. 2018-01-19
    price $59,900
13. 2018-01-19
    price $59,900
14. 2017-12-05
    listed $64,900 Active
15. 2017-12-05
    listed $64,900 Active
16. 2003-07-02
    soldstatus $102,000
17. 2003-04-28
    soldstatus $102,000
18. 2002-10-30
    listed $99,900
19. 1998-09-29
    soldstatus $60,000

ⓘ 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: $1,575 · $131/mo
• Projected year-2 tax: $1,942 · $162/mo
• Expected delta: +$367/yr (+$31/mo · 23.3%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,368
• − Mortgage interest: −$8,397
• − Property taxes: −$1,575
• − Insurance: −$750
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − Depreciation: −$4,361
• Taxable income: $347
• Est. tax owed @ 24.0%: −$83
• After-tax cash flow: $2,670/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 of 540 in MI

Livability — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

Amenities D Commute F Cost of living A+ Crime B Employment A+ Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 56,806
• Population (ZIP): 17,097

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 45% Black 40% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Chinese 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: ▼ -177.98%
• Current HPI: 236.2958
• Rent YoY: —
• Metro: —
• 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

+149.8% since first listed

19 events — show timeline

• 2026-04-23 Pending — REALCOMP
• 2026-04-23 Pending — MiRealSource-MiMLS
• 2026-04-23 Pending — SW Michigan MLS
• 2026-02-17 Listed $149,900 REALCOMP
• 2026-02-16 Listed $149,900 SW Michigan MLS
• 2026-02-16 Listed $149,900 MiRealSource-MiMLS
• 2018-03-06 Sold (Public Records) $57,100 Public Records
• 2018-03-02 Sold (MLS) $57,000 MiRealSource-MiMLS
• 2018-03-02 Sold (MLS) $57,000 REALCOMP
• 2018-01-27 Pending — MiRealSource-MiMLS
• 2018-01-27 Pending — REALCOMP
• 2018-01-19 Price Changed $59,900 MiRealSource-MiMLS
• 2018-01-19 Price Changed $59,900 REALCOMP
• 2017-12-05 Listed $64,900 MiRealSource-MiMLS
• 2017-12-05 Listed $64,900 REALCOMP
• 2003-07-02 Sold (Public Records) $102,000 Public Records
• 2003-04-28 Sold (MLS) $102,000 REALCOMP
• 2002-10-30 Listed $99,900 REALCOMP
• 1998-09-29 Sold (Public Records) $60,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,575 · -46.6% YoY. Source: county tax records.