17918 Fleming St · Detroit, MI 48212

$45,000

3 bd · 1.0 ba · 1,305 sqft · SingleFamily public records · 1 Days on market

Built 1926 3,485 sqft lot Est $51k · 12% 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 +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a residence of enduring character at 17918 Fleming ST, Detroit, MI, USA. Constructed in 1926, this multi-family home offers a unique opportunity to embrace a piece of Detroit's rich architectural heritage. This thoughtful layout includes an up stairs one bedroom apartment with separate entrance at rear two distinct downstairs bedrooms, each providing a comfortable retreat. The two well-appointed bathrooms 9one per floor), offer convenience and functionality, supporting the daily routines of a dynamic household, or a investor interested in rental income. Embrace the opportunity to envision your future in this distinctive property.

Key facts

• 3,485 sq ft lot
• Built 1926

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry; Vinyl siding
• Construction: Asphalt roof; Brick/mortar foundation
• Exterior features: Front porch; Paved road access

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Gas water heater; Unfinished walk-out, daylight basement
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 24.3% 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: 166 active listings in the ZIP; 19 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 41% of the median local income ($38k/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 $311 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 + 3.0% rent growth), your $13k 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.
• 2 sale attempts 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: property tax is 2.8% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 2.91% ✓
• Cap rate: 24.25%
• Cash-on-cash: 64.14%
• DSCR: 3.85
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $50,895
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18101 Marx St	0.28mi	3/1.5	1,291 (-1%)	2mo	$37,500	$29	81
17520 Goddard Street St	0.17mi	4/2.0 (+1)	1,302 (-0%)	3mo	$54,900	$42	80
18057 Fleming st St	0.11mi	4/2.0 (+1)	1,250 (-4%)	7mo	$127,000	$102	73
17496 Saint Aubin St	0.21mi	4/1.5 (+1)	1,377 (+6%)	5mo	$25,000	$18	70
18051 Orleans St	0.32mi	4/2.0 (+1)	1,300 (-0%)	9mo	$39,000	$30	68
18532 Riopelle St	0.43mi	3/1.0	1,248 (-4%)	9mo	$64,000	$51	65
18522 Joseph Campau St	0.43mi	3/1.0	1,237 (-5%)	11mo	$106,000	$86	62
18025 Brinker St	0.28mi	4/2.0 (+1)	1,416 (+8%)	10mo	$40,000	$28	55
19181 Marx St	0.68mi	3/1.0	1,152 (-12%)	1mo	$40,500	$35	48
19031 Klinger St	0.73mi	3/1.5	1,415 (+8%)	7mo	$55,000	$39	44
13953 Mackay St	0.67mi	3/1.0	1,138 (-13%)	4mo	$34,000	$30	44
19145 Riopelle St	0.70mi	3/2.0	1,152 (-12%)	2mo	$80,000	$69	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.3%
• Equity multiple: 3.83×
• Total profit: $35,654
• Equity at exit: $6,710

10-year hold

• IRR: 67.7%
• Equity multiple: 7.86×
• Total profit: $86,484
• Equity at exit: $3,891

Cash invested: $12,600 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 166
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$236
• Tax from tax record: −$105 /mo · $1,262/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $674

Break-even live

Break-even rent $456

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $699	-5% $686	+0% $674	+5% $661	+10% $648
Rent	-10% $570	-5% $622	+0% $674	+5% $725	+10% $777
Rate	-1.0pp $696	-0.5pp $685	base $674	+0.5pp $662	+1.0pp $650

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.31mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.35mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.45mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.50mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.52mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	25d	1	0.75mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	0.97mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.99mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.07mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.08mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	1.16mi
19458 Binder St Detroit, MI	3.0	1.5	1550	$1,500	$0.97	4d	1	1.17mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	1.22mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	25d	1	1.30mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.34mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	1.39mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.46mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.47mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.48mi

Listing history 2 events

1. 2026-06-19
   remarks 647-char remark
2. 2026-06-19
   listed $45,000 Active 1 DOM

ⓘ 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: $1,262 · $105/mo
• Projected year-2 tax: $1,262 · $105/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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,697
• − Mortgage interest: −$2,521
• − Property taxes: −$1,262
• − Insurance: −$225
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$1,309
• Taxable income: $7,869
• Est. tax owed @ 24.0%: −$1,889
• After-tax cash flow: $6,194/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): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• Rent YoY: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-11 Listed $45,000 REALCOMP
• 2026-06-11 Listed $45,000 MiRealSource-MiMLS

Property tax history

-0.1%/yr

Latest (2025): $1,262 · +1.1% YoY. Source: county tax records.