16232 Manning St · Detroit, MI 48205

$34,000

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 86 Days on market

Built 1946 5,227 sqft lot $37/sqft · 27% below area Est $47k · 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
• 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! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

Key facts

• East side gem
• Brick property
• 5,227 sq ft lot

Tags

• BRICK PROPERTY
• EAST SIDE GEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $32k (6.0% below list) — sets the bar for market timing.
• Cap rate 35.2% 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; 30 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 $235 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y ago; this cycle's ask has dropped $6k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,960 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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 1946 — 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: 4.04% ✓
• Cap rate: 35.18%
• Cash-on-cash: 103.16%
• DSCR: 5.59
• GRM: 2.1

CMA / ARV

• ARV (median comp): $46,570
• List price: $34,000
• Delta: -26.99%
• 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
16277 Liberal St	0.06mi	3/1.0	945 (+3%)	1mo	$25,000	$26	91
16301 Coram St	0.17mi	3/1.0	929 (+1%)	1mo	$19,500	$21	89
16209 Tacoma St	0.09mi	3/1.0	968 (+5%)	1mo	$62,900	$65	86
18746 Woodside St	0.36mi	3/1.0	921 (+0%)	2mo	$110,000	$119	82
16062 Carlisle St	0.57mi	3/1.0	957 (+4%)	1mo	$42,000	$44	66
16062 CARLISLE St	0.57mi	3/1.0	957 (+4%)	1mo	$42,000	$44	66
16260 Bringard Dr	0.38mi	3/1.0	1,036 (+13%)	0mo	$80,000	$77	61
18591 Kingsville St	0.40mi	2/1.0 (-1)	824 (-10%)	1mo	$74,000	$90	59
12897 Riad St	0.53mi	3/1.0	831 (-10%)	1mo	$63,000	$76	58
18905 Woodland St	0.48mi	3/1.5	1,023 (+11%)	1mo	$105,000	$103	56
12893 Payton St	0.55mi	3/1.0	1,020 (+11%)	2mo	$75,000	$74	54
15644 Carlisle St	0.67mi	3/1.0	1,055 (+15%)	0mo	$129,900	$123	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: —
• Equity multiple: 5.66×
• Total profit: $44,385
• Equity at exit: $5,070

10-year hold

• IRR: —
• Equity multiple: 11.18×
• Total profit: $96,921
• Equity at exit: $2,940

Cash invested: $9,520 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$178
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $818

Break-even live

Break-even rent $339

Max offer price $34,000

Occupancy floor 35%

Sensitivity live

Price	-10% $838	-5% $828	+0% $818	+5% $809	+10% $799
Rent	-10% $710	-5% $764	+0% $818	+5% $873	+10% $927
Rate	-1.0pp $836	-0.5pp $827	base $818	+0.5pp $810	+1.0pp $801

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	44d	1	0.02mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.32mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.33mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.34mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	16d	1	0.44mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.63mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.66mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	0.67mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.75mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.81mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.85mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.86mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.89mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	0.92mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.95mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.96mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	1.00mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	1.03mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.11mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	1.11mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	1.12mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	1.20mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.30mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.31mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	17d	1	1.32mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	1.33mi
20600 Balfour St Harper Woods, MI	1.0–2.0	1.0–2.0	971	$1,640	$1.69	0d	14	1.40mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.41mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.45mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.46mi

Listing history 32 events

1. 2026-06-09
   days on market $34,000 Active 86 DOM
2. 2026-06-08
   days on market $34,000 Active 85 DOM
3. 2026-06-07
   days on market $34,000 Active 84 DOM
4. 2026-06-04
   days on market $34,000 Active 81 DOM
5. 2026-06-03
   days on market $34,000 Active 80 DOM
6. 2026-06-01
   days on market $34,000 Active 78 DOM
7. 2026-05-31
   days on market $34,000 Active 77 DOM
8. 2026-04-20
   price $34,000 452-char remark

   Show marketing remark (452 chars)

   Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

9. 2026-04-20
   price $34,000 452-char remark

   Show marketing remark (452 chars)

   Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

10. 2026-04-20
    price $34,000

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

11. 2026-04-14
    price $34,900 452-char remark

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

12. 2026-04-13
    price $34,900 452-char remark

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

13. 2026-04-13
    price $34,900

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

14. 2026-03-15
    listed $39,900 Active 452-char remark

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

15. 2026-03-15
    listed $39,900 Active 452-char remark

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

16. 2026-03-15
    listed $39,900 Active

    Show marketing remark (452 chars)

    Investor Special! Come get a DEAL! Great rehab project on a good brick property in 48205. This 3-Bedroom 1 Bathroom bungalow is ready for it's next chapter. Being sold as is bring your vision and your contractor to unlock the full potential of this East Side Gem. Positioned right near 8mile and Kelly Road this property is a perfect if you're looking for a good ROI. Schedule your showing today! Send all offers to porter. [email protected] BATVAI.

17. 2025-11-26
    historical
18. 2025-11-25
    historical
19. 2025-08-29
    listed $55,000 Active
20. 2025-08-29
    listed $55,000 Active
21. 2025-08-28
    historical
22. 2020-12-09
    soldstatus $66,400
23. 2020-09-24
    soldstatus $46,300
24. 2016-07-11
    historical
25. 2016-07-11
    historical
26. 2016-04-15
    listed $9,500 Active
27. 2016-03-17
    price $9,500
28. 2016-03-09
    price $10,900
29. 2016-01-12
    listed $12,900 Active
30. 2001-07-26
    soldstatus $7,500
31. 1994-11-04
    soldstatus $27,000
32. 1994-11-04
    soldstatus $31,700

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $900 · $75/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 ≥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: $16,495
• − Mortgage interest: −$1,905
• − Property taxes: −$900
• − Insurance: −$170
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$989
• Taxable income: $9,892
• Est. tax owed @ 24.0%: −$2,374
• After-tax cash flow: $7,447/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

+25.9% since first listed

25 events — show timeline

• 2026-04-20 Price Changed $34,000 MiRealSource-MiMLS
• 2026-04-20 Price Changed $34,000 REALCOMP
• 2026-04-20 Price Changed $34,000 SW Michigan MLS
• 2026-04-14 Price Changed $34,900 MiRealSource-MiMLS
• 2026-04-13 Price Changed $34,900 REALCOMP
• 2026-04-13 Price Changed $34,900 SW Michigan MLS
• 2026-03-15 Listed $39,900 SW Michigan MLS
• 2026-03-15 Listed $39,900 REALCOMP
• 2026-03-15 Listed $39,900 MiRealSource-MiMLS
• 2025-11-26 Listing Removed — MiRealSource-MiMLS
• 2025-11-25 Listing Removed — REALCOMP
• 2025-08-29 Listed $55,000 REALCOMP
• 2025-08-29 Listed $55,000 MiRealSource-MiMLS
• 2025-08-28 Coming Soon — MiRealSource-MiMLS
• 2020-12-09 Sold (Public Records) $66,400 Public Records
• 2020-09-24 Sold (Public Records) $46,300 Public Records
• 2016-07-11 Listing Removed — MiRealSource-MiMLS
• 2016-07-11 Listing Removed — REALCOMP
• 2016-04-15 Listed $9,500 MiRealSource-MiMLS
• 2016-03-17 Price Changed $9,500 REALCOMP
• 2016-03-09 Price Changed $10,900 REALCOMP
• 2016-01-12 Listed $12,900 REALCOMP
• 2001-07-26 Sold (Public Records) $7,500 Public Records
• 1994-11-04 Sold (Public Records) $31,700 Public Records
• 1994-11-04 Sold (Public Records) $27,000 Public Records

Property tax history

-7.5%/yr

Latest (2025): $900 · -53.6% YoY. Source: county tax records.