18500 S Freeland St S · Detroit, MI 48235

$114,900

3 bd · 1.0 ba · 1,027 sqft · SingleFamily public records · 311 Days on market

Built 1946 5,227 sqft lot $112/sqft · 35% above area Est $104k · 11% over

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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 +25.3/30.0
• DSCR +8.4/10.0
• 1% rule +7.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This charming brick bungalow is the perfect opportunity for a first-time homebuyer or investor. With great potential, it's ready for you to make it your own!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1946

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

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 (+3.2%/yr); 283 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 43% 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 $794 of loan paydown is wiped out by about $3k 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 311 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 20y 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 $58k; list at $115k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 311 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.22% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 6.9

CMA / ARV

• ARV (median comp): $103,704
• List price: $114,900
• Delta: 10.80%
• 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
18476 Mark Twain St	0.06mi	3/1.0	1,089 (+6%)	8mo	$71,000	$65	81
18235 Tracey St	0.28mi	3/2.0	1,055 (+3%)	4mo	$67,000	$64	75
18058 Tracey St	0.38mi	3/1.0	1,090 (+6%)	9mo	$120,000	$110	65
18435 Robson St	0.41mi	3/1.0	925 (-10%)	0mo	$86,000	$93	64
19341 Schaefer Hwy	0.54mi	2/1.0 (-1)	1,023 (-0%)	8mo	$37,500	$37	63
18034 Tracey St	0.40mi	4/1.0 (+1)	1,116 (+9%)	2mo	$118,600	$106	61
19152 Whitcomb St	0.64mi	2/1.5 (-1)	1,012 (-2%)	1mo	$110,000	$109	59
18045 Coyle St	0.56mi	3/1.0	1,081 (+5%)	8mo	$40,000	$37	58
19484 Schaefer Hwy	0.70mi	2/1.0 (-1)	1,000 (-3%)	2mo	$50,000	$50	57
18643 Hubbell St	0.22mi	2/1.5 (-1)	1,178 (+15%)	6mo	$43,728	$37	53
19193 Lesure St	0.41mi	2/2.0 (-1)	909 (-12%)	1mo	$140,000	$154	52
19412 Sussex St	0.73mi	3/1.0	1,170 (+14%)	2mo	$93,000	$79	42

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,485
• Equity at exit: $17,132

10-year hold

• IRR: 8.8%
• Equity multiple: 1.68×
• Total profit: $21,906
• Equity at exit: $9,934

Cash invested: $32,172 (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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$603
• Tax from tax record: −$190 /mo · $2,286/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $263

Break-even live

Break-even rent $1,064

Max offer price $114,900

Occupancy floor 76%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	17d	1	0.19mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	0.31mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	0.39mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	3d	1	0.48mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	0.66mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	5d	1	0.68mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	5d	1	0.72mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	44d	1	0.78mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	5d	1	0.87mi
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,400	$0.97	17d	1	0.91mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	4d	1	0.97mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	1.03mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	1.06mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	1.06mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	1.10mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	1.11mi
20426 Tracey St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	24d	1	1.15mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	17d	1	1.15mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	1.15mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.19mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	17d	1	1.20mi
19503 Mansfield St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	17d	1	1.21mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	1.25mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	3d	1	1.27mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	1.28mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	1.28mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	1.32mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	3d	1	1.35mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	1.39mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	1.40mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	5d	1	1.40mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	17d	1	1.43mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	15d	5	1.47mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	1.47mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	44d	1	1.47mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	1.50mi

Listing history 36 events

1. 2026-06-18
   days on market $114,900 Active 311 DOM
2. 2026-06-17
   days on market $114,900 Active 310 DOM
3. 2026-06-15
   days on market $114,900 Active 308 DOM
4. 2026-06-13
   days on market $114,900 Active 306 DOM
5. 2026-06-13
   days on market $114,900 Active 305 DOM
6. 2026-06-09
   days on market $114,900 Active 302 DOM
7. 2026-06-08
   days on market $114,900 Active 301 DOM
8. 2026-06-07
   days on market $114,900 Active 300 DOM
9. 2026-06-04
   days on market $114,900 Active 297 DOM
10. 2026-06-03
    days on market $114,900 Active 296 DOM
11. 2026-06-01
    days on market $114,900 Active 294 DOM
12. 2026-05-31
    days on market $114,900 Active 293 DOM
13. 2026-04-13
    price $114,900 171-char remark

    Show marketing remark (171 chars)

    Welcome Home! This charming brick bungalow is the perfect opportunity for a first-time homebuyer or investor. With great potential, it's ready for you to make it your own!

14. 2026-04-13
    price $114,900 171-char remark

    Show marketing remark (171 chars)

    Welcome Home! This charming brick bungalow is the perfect opportunity for a first-time homebuyer or investor. With great potential, it's ready for you to make it your own!

15. 2025-08-12
    listed $119,900 Active 171-char remark

    Show marketing remark (171 chars)

    Welcome Home! This charming brick bungalow is the perfect opportunity for a first-time homebuyer or investor. With great potential, it's ready for you to make it your own!

16. 2025-08-12
    listed $119,900 Active 171-char remark

    Show marketing remark (171 chars)

    Welcome Home! This charming brick bungalow is the perfect opportunity for a first-time homebuyer or investor. With great potential, it's ready for you to make it your own!

17. 2025-08-12
    historical $119,900 171-char remark

    Show marketing remark (171 chars)

    Welcome Home! This charming brick bungalow is the perfect opportunity for a first-time homebuyer or investor. With great potential, it's ready for you to make it your own!

18. 2020-07-23
    soldstatus $58,000
19. 2009-04-11
    historical
20. 2008-11-11
    listed $84,900
21. 2007-08-01
    soldstatus $46,500
22. 2007-06-02
    listed $46,500
23. 2007-06-02
    historical
24. 2007-05-01
    listed $46,500
25. 2007-04-30
    historical
26. 2007-01-31
    historical
27. 2007-01-31
    historical
28. 2007-01-30
    listed $48,500
29. 2007-01-27
    listed $69,900
30. 2007-01-27
    listed $69,900
31. 2007-01-27
    historical
32. 2007-01-27
    historical
33. 2006-09-09
    listed $69,900
34. 2006-09-09
    listed $69,900
35. 2006-03-31
    historical
36. 2006-01-06
    listed $110,000

ⓘ 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: $2,286 · $190/mo
• Projected year-2 tax: $2,286 · $190/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 ≥98°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: $16,763
• − Mortgage interest: −$6,436
• − Property taxes: −$2,286
• − Insurance: −$574
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$3,343
• Taxable income: $1,442
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $2,806/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+4.5% since first listed

24 events — show timeline

• 2026-04-13 Price Changed $114,900 MiRealSource-MiMLS
• 2026-04-13 Price Changed $114,900 REALCOMP
• 2025-08-12 Listed $119,900 MiRealSource-MiMLS
• 2025-08-12 Listed $119,900 REALCOMP
• 2025-08-12 Coming Soon $119,900 MiRealSource-MiMLS
• 2020-07-23 Sold (Public Records) $58,000 Public Records
• 2009-04-11 Listing Removed — REALCOMP
• 2008-11-11 Listed $84,900 REALCOMP
• 2007-08-01 Sold (MLS) $46,500 REALCOMP
• 2007-06-02 Listing Removed — REALCOMP
• 2007-06-02 Listed $46,500 REALCOMP
• 2007-05-01 Listed $46,500 REALCOMP
• 2007-04-30 Listing Removed — REALCOMP
• 2007-01-31 Listing Removed — REALCOMP
• 2007-01-31 Listing Removed — MiRealSource-MiMLS
• 2007-01-30 Listed $48,500 REALCOMP
• 2007-01-27 Listing Removed — REALCOMP
• 2007-01-27 Listing Removed — MiRealSource-MiMLS
• 2007-01-27 Listed $69,900 REALCOMP
• 2007-01-27 Listed $69,900 MiRealSource-MiMLS
• 2006-09-09 Listed $69,900 REALCOMP
• 2006-09-09 Listed $69,900 MiRealSource-MiMLS
• 2006-03-31 Listing Removed — REALCOMP
• 2006-01-06 Listed $110,000 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $2,286 · -10.3% YoY. Source: county tax records.