18985 Monica St · Detroit, MI 48221

$65,000

3 bd · 1.0 ba · 1,385 sqft · SingleFamily public records · 4 Days on market

Built 1928 3,485 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CORPORATE OWNED BANK BRICK COLONIAL IN THE BAGLEY DISTRICT. GREAT FOR THE FIRST TIMER OR INVESTOR LOOKING FOR A POSITIVE RETURN WITH LITTLE REPAIRS TO COMPLETE. 3 BEDROOM, FORMAL DINING, NEWER KITCHEN CABINETS, DISHWASHER AND DECK OFF REAR. A SITE TO SEE !

Key facts

• Blank slate
• Great location
• Completely gutted

Tags

• COMPLETELY GUTTED
• BLANK SLATE
• GREAT LOCATION

Property features AI

Exterior

• Utilities: Public water (to property and at street); Public sewer at street; Natural gas available
• Home design: Residential 2-story home; Built in 1928; Basement entry below grade
• Construction: Brick construction; Basement foundation; Built in 1928
• Exterior features: Brick exterior; Paved street access; Frontage approximately 35 ft

Interior

• Bedrooms: Bedroom 1 on second floor (14 x 12); Bedroom 2 on second floor (12 x 10); Bedroom 3 on second floor (approx. 10 ft wide)
• Bathrooms: One full bathroom (second floor, approx. 5 x 5)
• Heating & cooling: Natural gas heating; Forced air heating
• Interior features: 6 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 19.2% 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: Rents rising (+3.4%/yr); 349 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($58k/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 $449 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 + 3.4% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $25k; list at $65k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.34% ✓
• Cap rate: 19.18%
• Cash-on-cash: 46.03%
• DSCR: 3.05
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $163,430
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18679 Santa Barbara Dr	0.27mi	3/1.0	1,353 (-2%)	2mo	$113,400	$84	82
19372 Santa Barbara Dr	0.32mi	3/1.5	1,421 (+3%)	2mo	$218,500	$154	78
18438 Prairie St	0.29mi	3/2.0	1,380 (-0%)	6mo	$220,000	$159	76
18674 San Juan Dr	0.16mi	3/2.0	1,538 (+11%)	4mo	$210,000	$137	67
19703 Santa Barbara Dr	0.48mi	2/1.0 (-1)	1,400 (+1%)	5mo	$110,000	$79	66
18947 Cherrylawn St	0.55mi	3/1.0	1,460 (+5%)	1mo	$110,000	$75	64
17600 Santa Barbara Dr	0.63mi	3/1.0	1,446 (+4%)	2mo	$145,000	$100	61
19489 San Juan Dr	0.40mi	3/1.0	1,200 (-13%)	1mo	$110,000	$92	58
17510 Monica St	0.69mi	3/1.5	1,331 (-4%)	7mo	$215,000	$162	54
18978 Indiana St	0.69mi	3/3.0	1,306 (-6%)	7mo	$154,000	$118	45
18461 Wisconsin St	0.71mi	4/1.5 (+1)	1,498 (+8%)	7mo	$226,000	$151	41
18032 Woodingham Dr	0.60mi	3/1.5	1,574 (+14%)	8mo	$169,000	$107	41

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 43.8%
• Equity multiple: 2.90×
• Total profit: $34,667
• Equity at exit: $9,692

10-year hold

• IRR: 50.0%
• Equity multiple: 5.97×
• Total profit: $90,480
• Equity at exit: $5,620

Cash invested: $18,200 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$341
• Tax from tax record: −$137 /mo · $1,648/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $698

Break-even live

Break-even rent $640

Max offer price $65,000

Occupancy floor 49%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19031 Livernois Unit F Detroit, MI	2.0	2.0	1100	$2,135	$1.94	44d	1	0.17mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	24d	1	0.62mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	44d	1	0.62mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	0.66mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	17d	1	0.68mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	5d	1	0.72mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	24d	1	0.77mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	44d	1	0.77mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	0.80mi
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	17d	1	0.82mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	17d	1	0.86mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	24d	1	0.87mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.88mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	0.89mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	0.90mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.91mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	17d	1	0.93mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	20d	1	0.98mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	24d	1	0.98mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	1.01mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	44d	1	1.07mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.09mi
20643 Stratford Rd Unit 1 Detroit, MI	2.0	1.5	1000	$1,250	$1.25	44d	1	1.11mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	18d	1	1.16mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	24d	1	1.19mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	24d	1	1.20mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	1.21mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	44d	1	1.29mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	1.31mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	1.31mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	44d	1	1.33mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	1.34mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	17d	1	1.34mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	1.35mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	1.35mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	1.36mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	1.37mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	44d	1	1.37mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.38mi
351 Edgewood Pl Unit 2 Ferndale, MI	3.0	2.0	1600	$2,200	$1.38	18d	1	1.39mi

Listing history 7 events

1. 2026-06-18
   days on market $65,000 Active 4 DOM
2. 2026-06-17
   days on market $65,000 Active 3 DOM
3. 2026-06-16
   days on market $65,000 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $65,000 Active 1 DOM
5. 2026-06-15
   days on market $65,000 Active 3 DOM
6. 2026-06-13
   remarks 446-char remark
7. 2026-06-13
   listed $65,000 Active 1 DOM

ⓘ 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: $1,648 · $137/mo
• Projected year-2 tax: $1,648 · $137/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: $18,279
• − Mortgage interest: −$3,641
• − Property taxes: −$1,648
• − Insurance: −$325
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$1,891
• Taxable income: $7,850
• Est. tax owed @ 24.0%: −$1,884
• After-tax cash flow: $6,494/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+133.0% since first listed

6 events — show timeline

• 2026-06-12 Listed $65,000 MiRealSource-MiMLS
• 2008-01-29 Sold (MLS) $25,000 REALCOMP
• 2008-01-29 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2007-12-18 Listing Removed — MiRealSource-MiMLS
• 2007-07-13 Listed $27,900 REALCOMP
• 2007-07-13 Listed $27,900 MiRealSource-MiMLS

Property tax history

+16.4%/yr

Latest (2025): $1,648 · -0.1% YoY. Source: county tax records.