17184 Dresden St · Detroit, MI 48205

$69,000

3 bd · 1.0 ba · 1,406 sqft · SingleFamily public records · 92 Days on market

Built 1939 4,792 sqft lot $49/sqft · 6% above area Est $74k · 7% under ↓ 14% 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 +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied - please do not disturb the tenant. Showings by appointment only.

Key facts

• Tenant occupied
• Roof replacement
• Convenient location

Tags

• TENANT OCCUPIED
• STRONG RENTAL POTENTIAL
• CONVENIENT LOCATION
• ROOF REPLACEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 (+1.3%/yr); 376 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent runs 42% of the median local income ($39k/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 $477 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 + 1.3% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $11k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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: 1.97% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.55%
• DSCR: 2.45
• GRM: 4.2

CMA / ARV

• ARV (median comp): $73,883
• List price: $69,000
• Delta: -6.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17170 Bradford Ave	0.08mi	3/1.0	1,450 (+3%)	7mo	$27,000	$19	85
17613 Rowe St	0.23mi	3/1.5	1,391 (-1%)	6mo	$71,000	$51	80
11785 Nashville St	0.37mi	3/1.5	1,360 (-3%)	4mo	$55,000	$40	72
17175 Albion St	0.36mi	3/1.5	1,350 (-4%)	8mo	$113,000	$84	68
12016 Nashville St	0.35mi	4/1.0 (+1)	1,590 (+13%)	4mo	$65,000	$41	54
11461 Engleside St	0.48mi	3/1.0	1,200 (-15%)	5mo	$75,000	$63	49
11821 Greiner St	0.36mi	4/1.5 (+1)	1,198 (-15%)	7mo	$26,000	$22	46
11234 Kenmoor St	0.60mi	3/2.0	1,200 (-15%)	0mo	$75,300	$63	44
18680 Westphalia St	0.73mi	4/1.0 (+1)	1,247 (-11%)	0mo	$75,000	$60	42
18009 Beland St	0.62mi	3/2.0	1,200 (-15%)	5mo	$102,000	$85	39
18431 Teppert St	0.66mi	4/1.0 (+1)	1,200 (-15%)	2mo	$67,500	$56	38
18652 Goulburn St	0.68mi	4/1.0 (+1)	1,200 (-15%)	2mo	$23,000	$19	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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 2.04×
• Total profit: $20,020
• Equity at exit: $10,288

10-year hold

• IRR: 32.3%
• Equity multiple: 3.68×
• Total profit: $51,777
• Equity at exit: $5,966

Cash invested: $19,320 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$362
• Tax from tax record: −$157 /mo · $1,886/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $524

Break-even live

Break-even rent $693

Max offer price $69,000

Occupancy floor 56%

Sensitivity live

Price	-10% $563	-5% $544	+0% $524	+5% $505	+10% $485
Rent	-10% $417	-5% $470	+0% $524	+5% $578	+10% $631
Rate	-1.0pp $559	-0.5pp $542	base $524	+0.5pp $506	+1.0pp $488

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	0.22mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	0.23mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	0.37mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.38mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	0.40mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.44mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.52mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	0.53mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	19d	1	0.61mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	0.65mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	3d	1	0.66mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	0.67mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.69mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	0.73mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	0.73mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	44d	1	0.83mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	0.91mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.94mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	18d	1	0.98mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	1.00mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	1.01mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	1.08mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	18d	1	1.10mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	1.10mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.13mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	19d	1	1.15mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	19d	1	1.22mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	1.23mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	1.29mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	17d	1	1.39mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	1.41mi

Listing history 21 events

1. 2026-06-21
   days on market $69,000 Active 92 DOM
2. 2026-06-18
   days on market $69,000 Active 89 DOM
3. 2026-06-17
   days on market $69,000 Active 88 DOM
4. 2026-06-15
   days on market $69,000 Active 86 DOM
5. 2026-06-13
   days on market $69,000 Active 84 DOM
6. 2026-06-13
   days on market $69,000 Active 83 DOM
7. 2026-06-09
   days on market $69,000 Active 80 DOM
8. 2026-06-08
   days on market $69,000 Active 79 DOM
9. 2026-06-07
   days on market $69,000 Active 78 DOM
10. 2026-06-04
    days on market $69,000 Active 75 DOM
11. 2026-06-03
    days on market $69,000 Active 74 DOM
12. 2026-06-01
    days on market $69,000 Active 72 DOM
13. 2026-05-31
    days on market $69,000 Active 71 DOM
14. 2026-05-01
    price $69,000 649-char remark

    Show marketing remark (649 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied - please do not disturb the tenant. Showings by appointment only.

15. 2026-04-30
    price $69,000 653-char remark

    Show marketing remark (653 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied—please do not disturb the tenant. Showings by appointment only.

16. 2026-04-28
    status Active 649-char remark

    Show marketing remark (653 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied—please do not disturb the tenant. Showings by appointment only.

17. 2026-04-28
    status Active 653-char remark

    Show marketing remark (653 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied—please do not disturb the tenant. Showings by appointment only.

18. 2026-02-18
    status Pending 649-char remark

    Show marketing remark (653 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied—please do not disturb the tenant. Showings by appointment only.

19. 2026-02-18
    status Pending 653-char remark

    Show marketing remark (653 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied—please do not disturb the tenant. Showings by appointment only.

20. 2026-01-12
    listed $80,000 Active 653-char remark

    Show marketing remark (649 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied - please do not disturb the tenant. Showings by appointment only.

21. 2026-01-12
    listed $80,000 Active 649-char remark

    Show marketing remark (649 chars)

    Investor special! Welcome to 17184 Dresden St, a long-term, tenant-occupied property generating $1,100/month in Section 8 rental income. This home offers 3 bedrooms with potential for a 4th, 1 full bath, and 1 half bath, and has been rented consistently for approximately 5 years. Located just off Gratiot and only about 15 minutes from Downtown Detroit, this property offers strong rental potential in a convenient location. The home does need some TLC, including a roof replacement, making it an excellent opportunity for investors looking to add value. Sold As-is. Tenant-occupied - please do not disturb the tenant. Showings by appointment only.

ⓘ 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: $1,886 · $157/mo
• Projected year-2 tax: $1,886 · $157/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 ≥96°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: $16,281
• − Mortgage interest: −$3,865
• − Property taxes: −$1,886
• − Insurance: −$345
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$2,007
• Taxable income: $5,573
• Est. tax owed @ 24.0%: −$1,338
• After-tax cash flow: $4,952/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

-13.8% since first listed

8 events — show timeline

• 2026-05-01 Price Changed $69,000 MiRealSource-MiMLS
• 2026-04-30 Price Changed $69,000 REALCOMP
• 2026-04-28 Relisted — MiRealSource-MiMLS
• 2026-04-28 Relisted — REALCOMP
• 2026-02-18 Pending — MiRealSource-MiMLS
• 2026-02-18 Pending — REALCOMP
• 2026-01-12 Listed $80,000 REALCOMP
• 2026-01-12 Listed $80,000 MiRealSource-MiMLS

Property tax history

+0.9%/yr

Latest (2025): $1,886 · -37.7% YoY. Source: county tax records.