16116 Coram St · Detroit, MI 48205

$135,000

3 bd · 1.0 ba · 848 sqft · SingleFamily public records · 2 Days on market

Built 1948 5,227 sqft lot

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• 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

The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

Key facts

• 5,227 sq ft lot
• Built 1948
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (1.2% below list).
• Recommended offer: $133k (1.2% below list) — sets the bar for 1% rule.

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; 35 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 41% 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 $933 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 31y 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 $13k; list at $135k implies a 938% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,409 (1.2% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $57,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12897 Riad St	0.36mi	3/1.0	831 (-2%)	1mo	$63,000	$76	79
16301 Coram St	0.11mi	3/1.0	929 (+10%)	1mo	$19,500	$21	78
18591 Kingsville St	0.25mi	2/1.0 (-1)	824 (-3%)	1mo	$74,000	$90	78
16107 Manning St	0.21mi	3/1.0	925 (+9%)	2mo	$61,000	$66	74
16277 Liberal St	0.17mi	3/1.0	945 (+11%)	1mo	$25,000	$26	72
18746 Woodside St	0.35mi	3/1.0	921 (+9%)	2mo	$110,000	$119	68
16209 Tacoma St	0.28mi	3/1.0	968 (+14%)	1mo	$62,900	$65	63
18567 Woodside Rd	0.30mi	2/1.0 (-1)	960 (+13%)	3mo	$65,000	$68	57
19381 Kenosha St	0.71mi	2/1.0 (-1)	892 (+5%)	2mo	$104,000	$117	51
12660 Duchess St	0.48mi	3/1.0	974 (+15%)	2mo	$55,000	$56	51
19100 Kingsville St	0.53mi	3/1.0	972 (+15%)	2mo	$110,000	$113	49
15260 Faircrest St	0.68mi	2/1.0 (-1)	942 (+11%)	1mo	$35,000	$37	44

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: -7.3%
• Equity multiple: 0.74×
• Total profit: $-9,976
• Equity at exit: $20,129

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $609
• Equity at exit: $11,672

Cash invested: $37,800 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$708
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $222

Break-even live

Break-even rent $1,053

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $299	-5% $260	+0% $222	+5% $184	+10% $146
Rent	-10% $117	-5% $169	+0% $222	+5% $275	+10% $328
Rate	-1.0pp $290	-0.5pp $256	base $222	+0.5pp $187	+1.0pp $152

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.12mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	45d	1	0.14mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	45d	1	0.23mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.46mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.56mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.61mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.61mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	16d	1	0.66mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.70mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.70mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	0.71mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	45d	1	0.72mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	0.74mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.79mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	0.83mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.84mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.89mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.90mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.92mi
15238 Seymour St Detroit, MI	3.0	1.0	1064	$1,300	$1.22	0d	1	0.92mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.95mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.03mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	5d	1	1.10mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	45d	1	1.11mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.12mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	1.21mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.30mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	1.36mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	1.38mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	1.39mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	18d	1	1.40mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.46mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	1.46mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	1.46mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	5d	1	1.48mi

Listing history 25 events

1. 2026-03-21
   status Pending
2. 2026-03-21
   status Pending
3. 2026-03-19
   listed $135,000 Active
4. 2026-03-19
   listed $135,000 Active
5. 2019-08-29
   soldstatus $13,000 Sold 396-char remark

   Show marketing remark (396 chars)

   The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

6. 2019-08-29
   soldstatus $13,000 Closed

   Show marketing remark (396 chars)

   The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

7. 2019-08-27
   status Pending

   Show marketing remark (396 chars)

   The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

8. 2019-08-27
   status Pending 396-char remark

   Show marketing remark (396 chars)

   The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

9. 2019-08-12
   status Active

   Show marketing remark (396 chars)

   The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

10. 2019-08-12
    status Active 396-char remark

    Show marketing remark (396 chars)

    The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

11. 2019-08-01
    status Pending

    Show marketing remark (396 chars)

    The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

12. 2019-08-01
    status Pending 396-char remark

    Show marketing remark (396 chars)

    The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

13. 2019-06-27
    listed $15,000 Active 396-char remark

    Show marketing remark (396 chars)

    The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

14. 2019-06-27
    listed $15,000 Active

    Show marketing remark (396 chars)

    The beautiful little 3 bedroom bungalow is the perfect home for a family or investors alike. Home just needs a little work and it will be move in ready. Previously freshly painted, new carpet, etc all before the last tenants moved in a year ago. CHECK OUT THAT PRICE! Where can you buy brick homes for 15K!? Get your offers in stat. This will likely go multiple offers and over asking. Act quick.

15. 2011-07-30
    historical
16. 2011-07-29
    soldstatus $5,900
17. 2011-07-29
    soldstatus $5,900
18. 2011-07-03
    historical
19. 2011-04-20
    listed $5,700
20. 2011-04-20
    listed $5,700
21. 2010-01-29
    listed $14,900
22. 1995-06-28
    soldstatus $31,500
23. 1995-06-22
    soldstatus $31,500
24. 1995-05-22
    historical
25. 1995-04-21
    listed $37,500

ⓘ 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: $811 · $68/mo
• Projected year-2 tax: $1,445 · $120/mo
• Expected delta: +$634/yr (+$53/mo · 78.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $16,009
• − Mortgage interest: −$7,562
• − Property taxes: −$811
• − Insurance: −$675
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$3,927
• Taxable income: $472
• Est. tax owed @ 24.0%: −$113
• After-tax cash flow: $2,552/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

+260.0% since first listed

25 events — show timeline

• 2026-03-21 Pending — MiRealSource-MiMLS
• 2026-03-21 Pending — REALCOMP
• 2026-03-19 Listed $135,000 REALCOMP
• 2026-03-19 Listed $135,000 MiRealSource-MiMLS
• 2019-08-29 Sold (MLS) $13,000 MiRealSource-MiMLS
• 2019-08-29 Sold (MLS) $13,000 REALCOMP
• 2019-08-27 Pending — MiRealSource-MiMLS
• 2019-08-27 Pending — REALCOMP
• 2019-08-12 Relisted — MiRealSource-MiMLS
• 2019-08-12 Relisted — REALCOMP
• 2019-08-01 Pending — MiRealSource-MiMLS
• 2019-08-01 Pending — REALCOMP
• 2019-06-27 Listed $15,000 MiRealSource-MiMLS
• 2019-06-27 Listed $15,000 REALCOMP
• 2011-07-30 Listing Removed — MiRealSource-MiMLS
• 2011-07-29 Sold (MLS) $5,900 REALCOMP
• 2011-07-29 Sold (MLS) $5,900 MiRealSource-MiMLS
• 2011-07-03 Listing Removed — MiRealSource-MiMLS
• 2011-04-20 Listed $5,700 REALCOMP
• 2011-04-20 Listed $5,700 MiRealSource-MiMLS
• 2010-01-29 Listed $14,900 MiRealSource-MiMLS
• 1995-06-28 Sold (Public Records) $31,500 Public Records
• 1995-06-22 Sold (MLS) $31,500 MiRealSource-MiMLS
• 1995-05-22 Listing Removed — MiRealSource-MiMLS
• 1995-04-21 Listed $37,500 MiRealSource-MiMLS

Property tax history

-3.1%/yr

Latest (2025): $811 · -53.5% YoY. Source: county tax records.