18433 Norwood St · Detroit, MI 48234

$60,000

4 bd · 1.5 ba · 1,627 sqft · SingleFamily public records · 43 Days on market

Built 1930 4,792 sqft lot $37/sqft · 15% below area Est $47k · 28% 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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome investors and homeowners looking for a value add opportunity! This home is 4 bedrooms and 1.5 baths and requires some TLC to make it exactly as you wish! This home can be paired with another investment property at 15260 Eastburn St 48205, which is tenant occupied! * * Property sold 'As is' * *

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story single-family residence; Ground-level entry with steps; Brick and vinyl siding exterior
• Construction: Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.11 acres (37 x 133)

Interior

• Bedrooms: Total of 4 rooms (bedrooms included)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% 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; 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).
• At $1,421/mo this rent would consume 48% of the median local household income ($35k/yr) (locally 2372% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 + 6.7% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 11y 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: property tax is 4.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.37% ✓
• Cap rate: 17.43%
• Cash-on-cash: 39.76%
• DSCR: 2.77
• GRM: 3.5

CMA / ARV

• ARV (median comp): $46,856
• List price: $60,000
• Delta: 28.05%
• 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
18461 Sunset St	0.30mi	3/2.0 (-1)	1,620 (-0%)	10mo	$192,500	$119	70
17886 Joseph Campau St	0.38mi	3/1.0 (-1)	1,653 (+2%)	9mo	$145,000	$88	65
17256 Anglin St	0.60mi	5/2.0 (+1)	1,644 (+1%)	7mo	$95,000	$58	58
18559 Brinker St	0.39mi	3/1.0 (-1)	1,514 (-7%)	10mo	$28,000	$18	55
19031 Klinger St	0.35mi	3/1.5 (-1)	1,415 (-13%)	7mo	$55,000	$39	51
18025 Brinker St	0.38mi	4/2.0	1,416 (-13%)	10mo	$40,000	$28	50
19250 Yonka St	0.51mi	3/1.5 (-1)	1,862 (+14%)	2mo	$144,200	$77	45
19311 Norwood Street St	0.56mi	3/2.0 (-1)	1,804 (+11%)	5mo	$85,000	$47	45
19189 Justine St	0.61mi	3/1.0 (-1)	1,534 (-6%)	13mo	$87,000	$57	44
18826 Justine St	0.50mi	3/1.5 (-1)	1,851 (+14%)	10mo	$130,000	$70	40
19426 Charest St	0.70mi	3/1.5 (-1)	1,850 (+14%)	7mo	$100,000	$54	34
17428 Goddard St	0.73mi	3/1.5 (-1)	1,409 (-13%)	13mo	$75,000	$53	28

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: 41.0%
• Equity multiple: 2.87×
• Total profit: $31,360
• Equity at exit: $8,946

10-year hold

• IRR: 49.2%
• Equity multiple: 6.82×
• Total profit: $97,859
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,421 high
• Mortgage (P&I): −$315
• Tax from tax record: −$226 /mo · $2,712/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $557

Break-even live

Break-even rent $716

Max offer price $60,000

Occupancy floor 56%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	24d	1	0.12mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.60mi
19458 Binder St Detroit, MI	3.0	1.5	1550	$1,500	$0.97	4d	1	0.70mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	2d	1	0.91mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	0.96mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.97mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	1.00mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.07mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	1.10mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	17d	1	1.39mi
20008 Hull St Highland Park, MI	5.0	2.0	1332	$1,600	$1.20	17d	1	1.45mi

Listing history 50 events

1. 2026-06-18
   days on market $60,000 Active 43 DOM
2. 2026-06-17
   days on market $60,000 Active 42 DOM
3. 2026-06-15
   days on market $60,000 Active 40 DOM
4. 2026-06-13
   days on market $60,000 Active 38 DOM
5. 2026-06-13
   days on market $60,000 Active 37 DOM
6. 2026-06-09
   days on market $60,000 Active 34 DOM
7. 2026-06-08
   days on market $60,000 Active 33 DOM
8. 2026-06-07
   days on market $60,000 Active 32 DOM
9. 2026-06-04
   days on market $60,000 Active 29 DOM
10. 2026-06-03
    days on market $60,000 Active 28 DOM
11. 2026-06-02
    days on market $60,000 Active 27 DOM
12. 2026-06-01
    days on market $60,000 Active 26 DOM
13. 2026-05-31
    days on market $60,000 Active 25 DOM
14. 2026-05-06
    listed $60,000 Active 272-char remark

    Show marketing remark (305 chars)

    Welcome investors and homeowners looking for a value add opportunity! This home is 4 bedrooms and 1.5 baths and requires some TLC to make it exactly as you wish! This home can be paired with another investment property at 15260 Eastburn St 48205, which is tenant occupied! * * Property sold 'As is' * *

15. 2026-05-06
    listed $60,000 Active 272-char remark

    Show marketing remark (305 chars)

    Welcome investors and homeowners looking for a value add opportunity! This home is 4 bedrooms and 1.5 baths and requires some TLC to make it exactly as you wish! This home can be paired with another investment property at 15260 Eastburn St 48205, which is tenant occupied! * * Property sold 'As is' * *

16. 2025-10-29
    status Pending
17. 2025-10-29
    status Pending
18. 2025-10-29
    status Active Under Contract
19. 2025-10-20
    historical Active Under Contract
20. 2025-10-20
    historical Accepting Backup Offers
21. 2025-10-20
    historical
22. 2025-10-20
    historical
23. 2025-10-20
    historical
24. 2025-07-21
    listed $75,000 Active
25. 2025-07-21
    listed $75,000 Active
26. 2025-07-18
    historical
27. 2024-01-26
    soldstatus $53,000
28. 2023-12-27
    soldstatus $53,000 Sold
29. 2023-12-27
    soldstatus $53,000 Closed
30. 2023-12-12
    status Pending
31. 2023-12-12
    status Pending
32. 2023-12-01
    price $55,000
33. 2023-11-30
    price $55,000
34. 2023-11-30
    status Active
35. 2023-11-30
    status Active
36. 2023-10-11
    status Pending
37. 2023-10-11
    status Pending
38. 2023-09-25
    listed $59,000 Active
39. 2023-09-25
    listed $59,000 Active
40. 2023-05-24
    status Pending
41. 2023-05-23
    status Pending
42. 2023-05-23
    historical
43. 2023-05-23
    historical
44. 2023-05-19
    listed $80,000 Active
45. 2023-05-17
    listed $80,000 Active
46. 2022-08-19
    soldstatus $445,000
47. 2022-04-04
    price $1,400
48. 2022-04-01
    historical
49. 2022-04-01
    historical
50. 2022-03-31
    listed $70,000 Active

ⓘ 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: $2,712 · $226/mo
• Projected year-2 tax: $2,712 · $226/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: $17,047
• − Mortgage interest: −$3,361
• − Property taxes: −$2,712
• − Insurance: −$300
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$1,745
• Taxable income: $6,201
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $5,191/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

+300.0% since first listed

50 events — show timeline

• 2026-05-06 Listed $60,000 MiRealSource-MiMLS
• 2026-05-06 Listed $60,000 REALCOMP
• 2025-10-29 Pending — MiRealSource-MiMLS
• 2025-10-29 Pending — REALCOMP
• 2025-10-29 Relisted — REALCOMP
• 2025-10-20 Contingent — REALCOMP
• 2025-10-20 Contingent — MiRealSource-MiMLS
• 2025-10-20 Listing Removed — REALCOMP
• 2025-10-20 Listing Removed — MiRealSource-MiMLS
• 2025-10-20 Listing Removed — MiRealSource-MiMLS
• 2025-07-21 Listed $75,000 MiRealSource-MiMLS
• 2025-07-21 Listed $75,000 REALCOMP
• 2025-07-18 Coming Soon — MiRealSource-MiMLS
• 2024-01-26 Sold (Public Records) $53,000 Public Records
• 2023-12-27 Sold (MLS) $53,000 MiRealSource-MiMLS
• 2023-12-27 Sold (MLS) $53,000 REALCOMP
• 2023-12-12 Pending — MiRealSource-MiMLS
• 2023-12-12 Pending — REALCOMP
• 2023-12-01 Price Changed $55,000 MiRealSource-MiMLS
• 2023-11-30 Price Changed $55,000 REALCOMP
• 2023-11-30 Relisted — MiRealSource-MiMLS
• 2023-11-30 Relisted — REALCOMP
• 2023-10-11 Pending — MiRealSource-MiMLS
• 2023-10-11 Pending — REALCOMP
• 2023-09-25 Listed $59,000 MiRealSource-MiMLS
• 2023-09-25 Listed $59,000 REALCOMP
• 2023-05-24 Pending — MiRealSource-MiMLS
• 2023-05-23 Pending — REALCOMP
• 2023-05-23 Listing Removed — MiRealSource-MiMLS
• 2023-05-23 Listing Removed — REALCOMP
• 2023-05-19 Listed $80,000 REALCOMP
• 2023-05-17 Listed $80,000 MiRealSource-MiMLS
• 2022-08-19 Sold (Public Records) $445,000 Public Records
• 2022-04-04 Price Changed $1,400 RENT.
• 2022-04-01 Listing Removed — REALCOMP
• 2022-04-01 Listing Removed — MiRealSource-MiMLS
• 2022-03-31 Listed $70,000 MiRealSource-MiMLS
• 2022-03-31 Listed $70,000 REALCOMP
• 2022-03-29 Coming Soon — MiRealSource-MiMLS
• 2022-03-29 Coming Soon — REALCOMP
• 2016-11-01 Listing Removed — REALCOMP
• 2016-10-31 Listing Removed — MiRealSource-MiMLS
• 2016-09-15 Listed $15,000 MiRealSource-MiMLS
• 2016-09-15 Listed $15,000 REALCOMP
• 2016-03-29 Listing Removed — REALCOMP
• 2016-03-28 Listing Removed — MiRealSource-MiMLS
• 2016-02-07 Relisted — REALCOMP
• 2016-01-18 Listing Removed — REALCOMP
• 2015-12-29 Listed $15,000 REALCOMP
• 2015-12-28 Listed $15,000 MiRealSource-MiMLS

Property tax history

+8.2%/yr

Latest (2025): $2,712 · +49.2% YoY. Source: county tax records.