17147 Dresden St · Detroit, MI 48205

$139,000

3 bd · 1.5 ba · 1,763 sqft · SingleFamily public records · 48 Days on market

Built 1929 6,098 sqft lot $79/sqft · 87% above area

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Why this score? — see what drove the D 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 +14.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.3/10.0
• 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

Welcome home to this beautifully remodeled 3-bedroom, 2-bath residence! From the moment you step inside, you'll appreciate the thoughtful updates and modern amenities throughout. The updated kitchen serves as the centerpiece of the home, featuring sleek finishes and contemporary design. Porcelain tile floors in the kitchen and bathrooms add a touch of elegance, while luxury vinyl flooring enhances the spacious open floor plan. Upstairs, you'll find a master bedroom with a full ensuite bathroom, offering comfort and privacy. Additional highlights include a brand-new furnace and hot water tank, plus the convenience of a 2-car garage. Ideally located near the City Airport redevelopment area, this home offers exceptional potential and value.

Key facts

• Updated kitchen
• Master bedroom
• Ensuite bathroom

Tags

• REMODELED RESIDENCE
• UPDATED KITCHEN
• PORCELAIN TILE FLOORS
• LUXURY VINYL FLOORING
• MASTER BEDROOM
• ENSUITE BATHROOM

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Water available; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 46.72 x 126.47 (0.14 acres)

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Walk-out, daylight unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $22 ($265/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 $138k (0.8% below list).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 373 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $961 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

• It's been on market 48 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $139k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.99% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 8.4

CMA / ARV

• ARV (median comp): $73,621
• List price: $139,000
• Delta: 88.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12082 Engleside St	0.26mi	3/1.0	1,758 (-0%)	14mo	$40,000	$23	74
17434 Annott St	0.21mi	2/1.5 (-1)	1,868 (+6%)	14mo	$85,000	$46	64
17841 Hoover St	0.36mi	3/1.0	1,906 (+8%)	8mo	$70,000	$37	61
12016 Nashville St	0.32mi	4/1.0 (+1)	1,590 (-10%)	4mo	$65,000	$41	58
11747 Minden St	0.46mi	3/1.5	1,827 (+4%)	20mo	$125,000	$68	56
12037 Kennebec St	0.10mi	3/1.0	1,533 (-13%)	20mo	$40,000	$26	55
11867 Engleside St	0.24mi	3/1.0	1,500 (-15%)	9mo	$60,000	$40	55
13034 Greiner St	0.57mi	4/2.0 (+1)	1,806 (+2%)	13mo	$67,500	$37	52
11062 Kenmoor St	0.64mi	3/2.0	1,670 (-5%)	13mo	$55,000	$33	48
12854 Hickory St	0.75mi	3/1.0	1,512 (-14%)	8mo	$75,000	$50	33
18680 Waltham St	0.73mi	3/1.0	1,936 (+10%)	19mo	$77,500	$40	32
11058 Minden St	0.74mi	4/1.5 (+1)	1,510 (-14%)	15mo	$30,000	$20	24

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: -17.2%
• Equity multiple: 0.40×
• Total profit: $-23,312
• Equity at exit: $20,725

10-year hold

• IRR: -13.0%
• Equity multiple: 0.30×
• Total profit: $-27,184
• Equity at exit: $12,018

Cash invested: $38,920 (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: 373
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,379 high
• Mortgage (P&I): −$729
• Tax from tax record: −$280 /mo · $3,364/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $22

Break-even live

Break-even rent $1,351

Max offer price $139,000

Occupancy floor 93%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	0.17mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	0.30mi
18457 Hoover St Unit 57 Detroit, MI	2.0	1.0	1950	$850	$0.44	14d	1	0.60mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	43d	1	0.87mi
18961 Teppert St Detroit, MI	3.0	1.5	2015	$1,250	$0.62	12d	1	0.91mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	43d	1	0.94mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	1.05mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	1.18mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	1.19mi
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	24d	1	1.23mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	16d	1	1.32mi

Listing history 27 events

1. 2026-06-18
   days on market $139,000 Active 48 DOM
2. 2026-06-17
   days on market $139,000 Active 47 DOM
3. 2026-06-15
   days on market $139,000 Active 45 DOM
4. 2026-06-13
   days on market $139,000 Active 43 DOM
5. 2026-06-13
   days on market $139,000 Active 42 DOM
6. 2026-06-09
   days on market $139,000 Active 39 DOM
7. 2026-06-08
   days on market $139,000 Active 38 DOM
8. 2026-06-07
   days on market $139,000 Active 37 DOM
9. 2026-06-04
   days on market $139,000 Active 34 DOM
10. 2026-06-03
    days on market $139,000 Active 33 DOM
11. 2026-06-02
    days on market $139,000 Active 32 DOM
12. 2026-06-01
    days on market $139,000 Active 31 DOM
13. 2026-05-31
    days on market $139,000 Active 30 DOM
14. 2026-05-01
    price $139,000 747-char remark

    Show marketing remark (747 chars)

    Welcome home to this beautifully remodeled 3-bedroom, 2-bath residence! From the moment you step inside, you'll appreciate the thoughtful updates and modern amenities throughout. The updated kitchen serves as the centerpiece of the home, featuring sleek finishes and contemporary design. Porcelain tile floors in the kitchen and bathrooms add a touch of elegance, while luxury vinyl flooring enhances the spacious open floor plan. Upstairs, you'll find a master bedroom with a full ensuite bathroom, offering comfort and privacy. Additional highlights include a brand-new furnace and hot water tank, plus the convenience of a 2-car garage. Ideally located near the City Airport redevelopment area, this home offers exceptional potential and value.

15. 2026-05-01
    price $139,000 759-char remark

    Show marketing remark (747 chars)

    Welcome home to this beautifully remodeled 3-bedroom, 2-bath residence! From the moment you step inside, you'll appreciate the thoughtful updates and modern amenities throughout. The updated kitchen serves as the centerpiece of the home, featuring sleek finishes and contemporary design. Porcelain tile floors in the kitchen and bathrooms add a touch of elegance, while luxury vinyl flooring enhances the spacious open floor plan. Upstairs, you'll find a master bedroom with a full ensuite bathroom, offering comfort and privacy. Additional highlights include a brand-new furnace and hot water tank, plus the convenience of a 2-car garage. Ideally located near the City Airport redevelopment area, this home offers exceptional potential and value.

16. 2026-05-01
    listed $149,000 Active 747-char remark

    Show marketing remark (747 chars)

    Welcome home to this beautifully remodeled 3-bedroom, 2-bath residence! From the moment you step inside, you'll appreciate the thoughtful updates and modern amenities throughout. The updated kitchen serves as the centerpiece of the home, featuring sleek finishes and contemporary design. Porcelain tile floors in the kitchen and bathrooms add a touch of elegance, while luxury vinyl flooring enhances the spacious open floor plan. Upstairs, you'll find a master bedroom with a full ensuite bathroom, offering comfort and privacy. Additional highlights include a brand-new furnace and hot water tank, plus the convenience of a 2-car garage. Ideally located near the City Airport redevelopment area, this home offers exceptional potential and value.

17. 2026-05-01
    listed $149,000 Active 759-char remark

    Show marketing remark (747 chars)

    Welcome home to this beautifully remodeled 3-bedroom, 2-bath residence! From the moment you step inside, you'll appreciate the thoughtful updates and modern amenities throughout. The updated kitchen serves as the centerpiece of the home, featuring sleek finishes and contemporary design. Porcelain tile floors in the kitchen and bathrooms add a touch of elegance, while luxury vinyl flooring enhances the spacious open floor plan. Upstairs, you'll find a master bedroom with a full ensuite bathroom, offering comfort and privacy. Additional highlights include a brand-new furnace and hot water tank, plus the convenience of a 2-car garage. Ideally located near the City Airport redevelopment area, this home offers exceptional potential and value.

18. 2012-11-15
    historical
19. 2012-11-15
    historical
20. 2012-11-02
    listed $6,000
21. 2012-11-02
    listed $6,000
22. 2003-07-02
    soldstatus $70,000
23. 2003-07-02
    soldstatus $70,000
24. 2003-05-06
    historical
25. 2003-03-06
    listed $64,900
26. 2003-03-05
    listed $64,900
27. 2002-07-15
    soldstatus $80,052

ⓘ 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: $3,364 · $280/mo
• Projected year-2 tax: $3,364 · $280/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: $16,545
• − Mortgage interest: −$7,786
• − Property taxes: −$3,364
• − Insurance: −$695
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$4,044
• Taxable loss: −$1,991
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $742/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

+73.6% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $139,000 MiRealSource-MiMLS
• 2026-05-01 Price Changed $139,000 REALCOMP
• 2026-05-01 Listed $149,000 REALCOMP
• 2026-05-01 Listed $149,000 MiRealSource-MiMLS
• 2012-11-15 Listing Removed — MiRealSource-MiMLS
• 2012-11-15 Listing Removed — REALCOMP
• 2012-11-02 Listed $6,000 MiRealSource-MiMLS
• 2012-11-02 Listed $6,000 REALCOMP
• 2003-07-02 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2003-07-02 Sold (MLS) $70,000 REALCOMP
• 2003-05-06 Listing Removed — MiRealSource-MiMLS
• 2003-03-06 Listed $64,900 MiRealSource-MiMLS
• 2003-03-05 Listed $64,900 REALCOMP
• 2002-07-15 Sold (Public Records) $80,052 Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,364 · +0.7% YoY. Source: county tax records.