19336 Binder St · Detroit, MI 48234

$59,900

3 bd · 1.0 ba · 1,293 sqft · SingleFamily public records · 72 Days on market

Built 1941 4,356 sqft lot $46/sqft · 7% above area Est $82k · 27% 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

Beautifully remodeled 3-bedroom home featuring modern upgrades throughout. The property includes a brand-new kitchen, updated bathroom, fresh interior paint, and contemporary fixtures, offering a clean and move-in ready space. Conveniently located at the end of the block near schools, this home provides both privacy and accessibility. With its updates and location, it presents an excellent opportunity for both owner-occupants and rental investors seeking strong potential returns. Schedule your showing today.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.1% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1,360/mo this rent would consume 46% 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 $414 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 5y 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 $39k; list at $60k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1941 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.27% ✓
• Cap rate: 20.13%
• Cash-on-cash: 49.43%
• DSCR: 3.20
• GRM: 3.7

CMA / ARV

• ARV (median comp): $81,676
• List price: $59,900
• Delta: -26.66%
• 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
19364 Norwood St	0.16mi	2/1.0 (-1)	1,296 (+0%)	4mo	$20,000	$15	84
19418 Gallagher St	0.32mi	3/1.0	1,336 (+3%)	4mo	$52,000	$39	76
2339 E Outer Dr	0.31mi	3/2.5	1,324 (+2%)	4mo	$154,000	$116	72
19155 Gallagher St	0.37mi	3/1.5	1,208 (-7%)	0mo	$129,900	$108	69
20450 Gallagher St	0.74mi	3/1.0	1,291 (-0%)	1mo	$45,000	$35	64
18844 Healy St	0.54mi	4/2.0 (+1)	1,252 (-3%)	2mo	$45,000	$36	59
3952 Stockton St	0.63mi	3/1.0	1,149 (-11%)	1mo	$55,000	$48	51
19610 Conley St	0.61mi	3/1.0	1,120 (-13%)	0mo	$80,000	$71	49
19366 Fenelon St	0.53mi	3/1.5	1,108 (-14%)	4mo	$70,000	$63	46
19442 Moenart St	0.73mi	3/1.5	1,145 (-11%)	2mo	$74,999	$66	43
1737 E Outer Dr	0.68mi	3/1.5	1,124 (-13%)	4mo	$96,000	$85	41
19365 Goddard St	0.73mi	3/1.0	1,100 (-15%)	0mo	$97,500	$89	40

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: 51.1%
• Equity multiple: 3.36×
• Total profit: $39,577
• Equity at exit: $8,931

10-year hold

• IRR: 58.0%
• Equity multiple: 7.83×
• Total profit: $114,520
• Equity at exit: $5,179

Cash invested: $16,772 (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: 226
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,360 high
• Mortgage (P&I): −$314
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $691

Break-even live

Break-even rent $485

Max offer price $59,900

Occupancy floor 44%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19458 Binder St Detroit, MI	3.0	1.5	1550	$1,500	$0.97	3d	1	0.13mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	0.21mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.22mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	0.35mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	14d	1	0.40mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	0.44mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	24d	1	0.46mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	4d	1	0.54mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	0.58mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.60mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	23d	1	0.69mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	1d	1	0.72mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.77mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	43d	1	0.78mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	0.80mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	0.80mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	0.81mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	21d	1	0.81mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.89mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	16d	1	0.91mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	1.03mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.05mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.05mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	1.07mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	1.08mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	4d	1	1.27mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.27mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	24d	1	1.40mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	43d	1	1.49mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1160	$1,595	$1.38	43d	1	1.50mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1152	$1,595	$1.38	1d	1	1.50mi

Listing history 44 events

1. 2026-06-18
   days on market $59,900 Active 72 DOM
2. 2026-06-17
   days on market $59,900 Active 71 DOM
3. 2026-06-15
   days on market $59,900 Active 69 DOM
4. 2026-06-13
   days on market $59,900 Active 67 DOM
5. 2026-06-13
   days on market $59,900 Active 66 DOM
6. 2026-06-09
   days on market $59,900 Active 63 DOM
7. 2026-06-08
   days on market $59,900 Active 62 DOM
8. 2026-06-07
   days on market $59,900 Active 61 DOM
9. 2026-06-04
   days on market $59,900 Active 58 DOM
10. 2026-06-03
    days on market $59,900 Active 57 DOM
11. 2026-06-02
    days on market $59,900 Active 56 DOM
12. 2026-06-01
    days on market $59,900 Active 55 DOM
13. 2026-05-31
    days on market $59,900 Active 54 DOM
14. 2026-04-08
    listed $59,900 Active 513-char remark

    Show marketing remark (513 chars)

    Beautifully remodeled 3-bedroom home featuring modern upgrades throughout. The property includes a brand-new kitchen, updated bathroom, fresh interior paint, and contemporary fixtures, offering a clean and move-in ready space. Conveniently located at the end of the block near schools, this home provides both privacy and accessibility. With its updates and location, it presents an excellent opportunity for both owner-occupants and rental investors seeking strong potential returns. Schedule your showing today.

15. 2026-04-08
    listed $59,900 Active 513-char remark

    Show marketing remark (513 chars)

    Beautifully remodeled 3-bedroom home featuring modern upgrades throughout. The property includes a brand-new kitchen, updated bathroom, fresh interior paint, and contemporary fixtures, offering a clean and move-in ready space. Conveniently located at the end of the block near schools, this home provides both privacy and accessibility. With its updates and location, it presents an excellent opportunity for both owner-occupants and rental investors seeking strong potential returns. Schedule your showing today.

16. 2026-04-06
    historical $59,900 513-char remark

    Show marketing remark (513 chars)

    Beautifully remodeled 3-bedroom home featuring modern upgrades throughout. The property includes a brand-new kitchen, updated bathroom, fresh interior paint, and contemporary fixtures, offering a clean and move-in ready space. Conveniently located at the end of the block near schools, this home provides both privacy and accessibility. With its updates and location, it presents an excellent opportunity for both owner-occupants and rental investors seeking strong potential returns. Schedule your showing today.

17. 2026-02-20
    historical
18. 2025-12-26
    price $65,000
19. 2025-12-25
    status Active
20. 2025-12-25
    status Active
21. 2025-12-25
    price $65,000
22. 2025-12-12
    historical
23. 2025-12-12
    historical
24. 2025-11-23
    listed $89,900 Active
25. 2025-11-23
    listed $89,900 Active
26. 2025-06-03
    soldstatus $39,000 Closed
27. 2025-06-03
    soldstatus $39,000 Closed
28. 2025-05-21
    status Pending
29. 2025-05-21
    status Pending
30. 2025-05-08
    listed $42,000 Active
31. 2025-05-08
    listed $42,000 Active
32. 2025-05-07
    historical
33. 2025-05-07
    historical
34. 2024-12-22
    price $49,900
35. 2024-12-21
    price $49,900
36. 2024-11-12
    listed $54,900 Active
37. 2024-11-12
    listed $54,900 Active
38. 2022-02-18
    soldstatus $65,900
39. 2021-11-17
    soldstatus $34,500 Sold
40. 2021-11-17
    soldstatus $34,500 Closed
41. 2021-10-14
    status Pending
42. 2021-10-14
    status Pending
43. 2021-09-16
    listed $36,900 Active
44. 2021-09-16
    listed $36,900 Active

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $727 · $61/mo
• Expected delta: +$196/yr (+$16/mo · 36.8%)

ⓘ 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: $16,317
• − Mortgage interest: −$3,355
• − Property taxes: −$531
• − Insurance: −$300
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$1,743
• Taxable income: $7,778
• Est. tax owed @ 24.0%: −$1,867
• After-tax cash flow: $6,424/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

+62.3% since first listed

31 events — show timeline

• 2026-04-08 Listed $59,900 MiRealSource-MiMLS
• 2026-04-08 Listed $59,900 REALCOMP
• 2026-04-06 Coming Soon $59,900 MiRealSource-MiMLS
• 2026-02-20 Listing Removed — MiRealSource-MiMLS
• 2025-12-26 Price Changed $65,000 MiRealSource-MiMLS
• 2025-12-25 Relisted — MiRealSource-MiMLS
• 2025-12-25 Relisted — REALCOMP
• 2025-12-25 Price Changed $65,000 REALCOMP
• 2025-12-12 Listing Removed — REALCOMP
• 2025-12-12 Listing Removed — MiRealSource-MiMLS
• 2025-11-23 Listed $89,900 REALCOMP
• 2025-11-23 Listed $89,900 MiRealSource-MiMLS
• 2025-06-03 Sold (MLS) $39,000 MiRealSource-MiMLS
• 2025-06-03 Sold (MLS) $39,000 REALCOMP
• 2025-05-21 Pending — MiRealSource-MiMLS
• 2025-05-21 Pending — REALCOMP
• 2025-05-08 Listed $42,000 REALCOMP
• 2025-05-08 Listed $42,000 MiRealSource-MiMLS
• 2025-05-07 Listing Removed — REALCOMP
• 2025-05-07 Listing Removed — MiRealSource-MiMLS
• 2024-12-22 Price Changed $49,900 MiRealSource-MiMLS
• 2024-12-21 Price Changed $49,900 REALCOMP
• 2024-11-12 Listed $54,900 REALCOMP
• 2024-11-12 Listed $54,900 MiRealSource-MiMLS
• 2022-02-18 Sold (Public Records) $65,900 Public Records
• 2021-11-17 Sold (MLS) $34,500 MiRealSource-MiMLS
• 2021-11-17 Sold (MLS) $34,500 REALCOMP
• 2021-10-14 Pending — MiRealSource-MiMLS
• 2021-10-14 Pending — REALCOMP
• 2021-09-16 Listed $36,900 MiRealSource-MiMLS
• 2021-09-16 Listed $36,900 REALCOMP

Property tax history

-8.7%/yr

Latest (2025): $531 · -4.7% YoY. Source: county tax records.