16551 Pinehurst St · Detroit, MI 48221

$50,800

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 111 Days on market

Built 1939 3,920 sqft lot Est $59k · 14% under ↓ 57% 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 +13.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity to own this single-family home built in 1939 featuring 3 bedrooms and 1 bathroom. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1939

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $51k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $51k).
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.5% 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 (+3.4%/yr); 349 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $351 of loan paydown is wiped out by about $2k 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 + 3.4% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,228 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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: 2.48% ✓
• Cap rate: 21.50%
• Cash-on-cash: 54.33%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $58,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16503 Ilene St	0.23mi	2/1.0 (-1)	1,048 (-4%)	0mo	$115,000	$110	77
17147 Appoline St	0.39mi	3/2.0	1,100 (+1%)	1mo	$170,000	$155	75
16180 Snowden St	0.54mi	3/1.0	1,137 (+4%)	0mo	$61,000	$54	68
15824 Snowden St	0.61mi	3/1.0	1,127 (+3%)	0mo	$61,000	$54	66
15824 Snowden St	0.61mi	3/1.0	1,127 (+3%)	0mo	$61,000	$54	66
16246 Snowden St	0.53mi	3/1.5	1,153 (+6%)	3mo	$58,500	$51	61
15775 Hartwell St	0.71mi	3/1.0	1,123 (+3%)	3mo	$88,000	$78	59
18000 Ilene St	0.70mi	3/2.0	1,057 (-3%)	2mo	$135,000	$128	56
15732 Manor St	0.45mi	3/1.0	930 (-15%)	3mo	$50,000	$54	52
15775 Indiana St	0.60mi	3/1.5	967 (-11%)	1mo	$45,000	$47	50
16863 Tracey St	0.75mi	3/2.0	1,200 (+10%)	2mo	$165,000	$138	43
16562 Tracey St	0.69mi	3/1.0	1,244 (+14%)	2mo	$60,000	$48	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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 53.0%
• Equity multiple: 3.35×
• Total profit: $33,362
• Equity at exit: $7,574

10-year hold

• IRR: 58.4%
• Equity multiple: 6.92×
• Total profit: $84,260
• Equity at exit: $4,392

Cash invested: $14,224 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$266
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $644

Break-even live

Break-even rent $445

Max offer price $50,800

Occupancy floor 44%

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: $12,700
• Closing costs: $1,524
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	43d	1	0.27mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	0.34mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	43d	2	0.35mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.39mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	43d	1	0.42mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.49mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.50mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.50mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	0.50mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.51mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	43d	1	0.51mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	0.51mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	43d	1	0.53mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	43d	1	0.53mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	43d	1	0.56mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.65mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	43d	1	0.65mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.75mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	20d	1	0.77mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	24d	1	0.77mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.82mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	16d	1	0.90mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	0.90mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.91mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	0.92mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	0.97mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.99mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	0.99mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.00mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	43d	1	1.00mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	1.01mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	1.01mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	1.09mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	1.11mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	43d	1	1.11mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	1.14mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	43d	1	1.15mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	1.19mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	1.20mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.21mi

Listing history 10 events

1. 2026-03-31
   status Pending 460-char remark

   Show marketing remark (460 chars)

   Great Opportunity to own this single-family home built in 1939 featuring 3 bedrooms and 1 bathroom. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections.

2. 2026-03-31
   status Pending

   Show marketing remark (460 chars)

   Great Opportunity to own this single-family home built in 1939 featuring 3 bedrooms and 1 bathroom. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections.

3. 2025-12-10
   listed $50,800 Active

   Show marketing remark (460 chars)

   Great Opportunity to own this single-family home built in 1939 featuring 3 bedrooms and 1 bathroom. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections.

4. 2025-12-10
   listed $50,800 Active 460-char remark

   Show marketing remark (460 chars)

   Great Opportunity to own this single-family home built in 1939 featuring 3 bedrooms and 1 bathroom. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections.

5. 2003-12-19
   soldstatus $101,000
6. 2003-09-10
   historical
7. 2003-09-09
   listed $104,999
8. 2003-08-08
   listed $119,000
9. 2003-08-04
   historical
10. 2003-06-09
    listed $119,000

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $773 · $64/mo
• Expected delta: +$10/yr (+$1/mo · 1.3%)

ⓘ 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: $15,116
• − Mortgage interest: −$2,846
• − Property taxes: −$763
• − Insurance: −$254
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$1,478
• Taxable income: $7,357
• Est. tax owed @ 24.0%: −$1,766
• After-tax cash flow: $5,962/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

-57.3% since first listed

10 events — show timeline

• 2026-03-31 Pending — MiRealSource-MiMLS
• 2026-03-31 Pending — REALCOMP
• 2025-12-10 Listed $50,800 REALCOMP
• 2025-12-10 Listed $50,800 MiRealSource-MiMLS
• 2003-12-19 Sold (MLS) $101,000 REALCOMP
• 2003-09-10 Listing Removed — REALCOMP
• 2003-09-09 Listed $104,999 REALCOMP
• 2003-08-08 Listed $119,000 REALCOMP
• 2003-08-04 Listing Removed — REALCOMP
• 2003-06-09 Listed $119,000 REALCOMP

Property tax history

-3.6%/yr

Latest (2025): $763 · -39.5% YoY. Source: county tax records.