18664 Sherwood St · Detroit, MI 48234

$34,500

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 1 Days on market

Built 1950 9,148 sqft lot Est $45k · 23% under ↓ 54% 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 +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

HAVE YOU HEARD THAT DETROIT'S REAL ESTATE MARKET IS HOT? Here's Your Chance To Be Part Of Detroit's Comeback In North East Detroit w/ This Well Maintained, "One Owner" Home w/ 3 Spacious Bedrooms, Finished Basement & 2.5 Car Garage! Great Turn-Key Home That Will Be Ideal For 1st Time Buyers Or Investors! ADORABLE & AFFORDABLE 3 Bedroom Bungalow In MOVE-IN CONDITION Top To Bottom! Newer Carpet, Paint, Blinds & Neutrally Decorated Thru-Out! Hardwood Floors (under carpet) In Living Room, Hall & All 3 Bedrooms! Newer Wallside Windows, Doors & Dimensional Roofs! Kitchen w/ Eating Area & Newer Floor! Large Upper Master Bedroom w/ Gorgeous Knotty Pine,

Key facts

• 9,148 sq ft lot
• 2 garage spots
• Built 1950

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 $724 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Cap rate 31.5% 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($35k/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 $239 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 + 6.7% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 29 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,500

Questions for the listing agent

1. Built in 1950 — 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: 3.58% ✓
• Cap rate: 31.49%
• Cash-on-cash: 89.98%
• DSCR: 5.00
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $44,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18824 Helen St	0.15mi	3/1.0	844 (-2%)	5mo	$34,000	$40	85
18818 Sherwood St	0.09mi	3/1.0	940 (+9%)	6mo	$38,000	$40	76
18810 Sherwood St	0.08mi	3/2.0	915 (+6%)	11mo	$103,000	$113	73
6744 Brimson St	0.65mi	3/1.0	910 (+5%)	1mo	$45,000	$49	60
6865 Edgeton St	0.59mi	3/1.5	888 (+3%)	8mo	$73,000	$82	59
18810 Carrie St	0.20mi	3/1.0	982 (+14%)	11mo	$86,000	$88	59
8100 Stockton St	0.62mi	2/1.0 (-1)	800 (-7%)	3mo	$26,000	$33	51
19332 Packard St	0.50mi	2/1.5 (-1)	775 (-10%)	3mo	$25,000	$32	50
19351 Dwyer St	0.56mi	3/1.0	971 (+12%)	6mo	$120,000	$124	48
19400 Dwyer St	0.58mi	3/1.5	960 (+11%)	8mo	$50,000	$52	46
8062 Stockton St	0.58mi	2/1.0 (-1)	768 (-11%)	6mo	$18,000	$23	44
19612 Dwyer St	0.66mi	2/1.0 (-1)	740 (-14%)	2mo	$50,000	$68	38

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: 94.9%
• Equity multiple: 5.70×
• Total profit: $45,364
• Equity at exit: $5,144

10-year hold

• IRR: 98.4%
• Equity multiple: 13.45×
• Total profit: $120,257
• Equity at exit: $2,983

Cash invested: $9,660 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,235 high
• Mortgage (P&I): −$181
• Tax from tax record: −$56 /mo · $672/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $724

Break-even live

Break-even rent $318

Max offer price $34,500

Occupancy floor 36%

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: $8,625
• Closing costs: $1,035
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.37mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.38mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	0.66mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	0.68mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	0.77mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	44d	1	0.77mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.83mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	0.85mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	0.94mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.97mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	1.12mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	17d	1	1.21mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	1.36mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	24d	1	1.38mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.45mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	44d	1	1.45mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	44d	1	1.49mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	1.50mi

Listing history 50 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2018-08-06
   status Pending
5. 2018-07-19
   historical
6. 2018-06-16
   status Pending
7. 2018-06-07
   historical
8. 2018-01-10
   status Pending
9. 2018-01-10
   status Pending
10. 2018-01-10
    status Pending
11. 2018-01-09
    historical
12. 2018-01-09
    listed $34,500 Active
13. 2018-01-09
    listed $34,500 Active
14. 2018-01-09
    historical
15. 2018-01-09
    listed $34,500 Active
16. 2018-01-09
    listed $34,500
17. 2018-01-09
    historical
18. 2016-11-03
    status Pending
19. 2016-11-03
    status Pending
20. 2016-11-03
    status Pending
21. 2016-11-02
    historical
22. 2016-11-02
    historical
23. 2016-04-15
    listed $27,500 Active
24. 2014-12-12
    listed $27,500 Active
25. 2014-04-01
    listed $27,500 Active
26. 2014-03-31
    historical
27. 2014-03-31
    historical
28. 2012-12-30
    historical
29. 2012-09-30
    listed $27,500
30. 2012-09-30
    listed $27,500
31. 2012-09-30
    listed $27,500
32. 2012-09-30
    historical
33. 2012-09-30
    historical
34. 2012-09-30
    historical
35. 2011-12-30
    listed $28,499
36. 2011-12-30
    listed $28,499
37. 2011-12-30
    listed $28,499
38. 2011-12-30
    historical
39. 2011-12-30
    historical
40. 2011-12-30
    historical
41. 2010-09-30
    listed $29,500
42. 2010-09-30
    listed $29,500
43. 2010-09-30
    listed $29,500
44. 2010-09-30
    historical
45. 2010-09-30
    historical
46. 2010-03-22
    historical
47. 2010-03-17
    listed $34,900
48. 2010-03-17
    listed $34,900
49. 2010-03-17
    historical
50. 2009-10-01
    listed $39,900

ⓘ 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: $672 · $56/mo
• Projected year-2 tax: $672 · $56/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,819
• − Mortgage interest: −$1,933
• − Property taxes: −$672
• − Insurance: −$172
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$1,004
• Taxable income: $8,668
• Est. tax owed @ 24.0%: −$2,080
• After-tax cash flow: $6,612/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

-53.9% since first listed

69 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2018-08-06 Pending — MiRealSource-MiMLS
• 2018-07-19 Listing Removed — MiRealSource-MiMLS
• 2018-06-16 Pending — MiRealSource-MiMLS
• 2018-06-07 Listing Removed — MiRealSource-MiMLS
• 2018-01-10 Pending — MiRealSource-MiMLS
• 2018-01-10 Pending — MiRealSource-MiMLS
• 2018-01-10 Pending — REALCOMP
• 2018-01-09 Listing Removed — REALCOMP
• 2018-01-09 Listing Removed — REALCOMP
• 2018-01-09 Listed $34,500 REALCOMP
• 2018-01-09 Listed $34,500 MiRealSource-MiMLS
• 2018-01-09 Listing Removed — MiRealSource-MiMLS
• 2018-01-09 Listed $34,500 MiRealSource-MiMLS
• 2018-01-09 Listed $34,500 REALCOMP
• 2016-11-03 Pending — MiRealSource-MiMLS
• 2016-11-03 Pending — MiRealSource-MiMLS
• 2016-11-03 Pending — REALCOMP
• 2016-11-02 Listing Removed — MiRealSource-MiMLS
• 2016-11-02 Listing Removed — MiRealSource-MiMLS
• 2016-04-15 Listed $27,500 MiRealSource-MiMLS
• 2014-12-12 Listed $27,500 MiRealSource-MiMLS
• 2014-04-01 Listed $27,500 REALCOMP
• 2014-03-31 Listing Removed — REALCOMP
• 2014-03-31 Listing Removed — MiRealSource-MiMLS
• 2012-12-30 Listing Removed — REALCOMP
• 2012-09-30 Listing Removed — MiRealSource-MiMLS
• 2012-09-30 Listing Removed — REALCOMP
• 2012-09-30 Listing Removed — MiRealSource-MiMLS
• 2012-09-30 Listed $27,500 REALCOMP
• 2012-09-30 Listed $27,500 REALCOMP
• 2012-09-30 Listed $27,500 MiRealSource-MiMLS
• 2011-12-30 Listing Removed — MiRealSource-MiMLS
• 2011-12-30 Listing Removed — MiRealSource-MiMLS
• 2011-12-30 Listing Removed — REALCOMP
• 2011-12-30 Listed $28,499 MiRealSource-MiMLS
• 2011-12-30 Listed $28,499 REALCOMP
• 2011-12-30 Listed $28,499 MiRealSource-MiMLS
• 2010-09-30 Listing Removed — MiRealSource-MiMLS
• 2010-09-30 Listing Removed — REALCOMP
• 2010-09-30 Listed $29,500 MiRealSource-MiMLS
• 2010-09-30 Listed $29,500 MiRealSource-MiMLS
• 2010-09-30 Listed $29,500 REALCOMP
• 2010-03-22 Listing Removed — MiRealSource-MiMLS
• 2010-03-17 Listing Removed — REALCOMP
• 2010-03-17 Listed $34,900 MiRealSource-MiMLS
• 2010-03-17 Listed $34,900 REALCOMP
• 2009-10-01 Listed $39,900 REALCOMP
• 2009-10-01 Listed $39,900 MiRealSource-MiMLS
• 2009-09-30 Listing Removed — MiRealSource-MiMLS
• 2009-09-30 Listing Removed — REALCOMP
• 2009-01-31 Listing Removed — MiRealSource-MiMLS
• 2009-01-31 Listing Removed — REALCOMP
• 2009-01-31 Listed $42,500 MiRealSource-MiMLS
• 2009-01-31 Listed $42,500 REALCOMP
• 2008-10-01 Listed $55,000 REALCOMP
• 2008-09-30 Listing Removed — REALCOMP
• 2008-09-30 Listing Removed — MiRealSource-MiMLS
• 2008-09-30 Listed $55,000 MiRealSource-MiMLS
• 2008-01-28 Listing Removed — MiRealSource-MiMLS
• 2008-01-28 Listed $59,900 MiRealSource-MiMLS
• 2008-01-08 Listing Removed — REALCOMP
• 2008-01-08 Listed $59,900 REALCOMP
• 2007-10-02 Listed $74,777 REALCOMP
• 2007-09-30 Listing Removed — REALCOMP
• 2007-07-07 Listed $77,777 REALCOMP
• 2007-07-07 Listed $74,777 MiRealSource-MiMLS

Property tax history

-3.5%/yr

Latest (2025): $672 · -54.3% YoY. Source: county tax records.