17857 Binder St · Detroit, MI 48212

$89,900

3 bd · 1.0 ba · 935 sqft · SingleFamily public records · 18 Days on market

Built 1917 3,049 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• 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

Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

Key facts

• Fully fenced yard
• 3,049 sq ft lot
• Garage

Tags

• FULLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% 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: 170 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 40% 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 $622 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 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: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.85%
• DSCR: 1.84
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $43,010
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17833 Binder St	0.02mi	3/1.0	1,000 (+7%)	4mo	$46,000	$46	84
17885 Binder St	0.03mi	3/1.0	844 (-10%)	6mo	$75,000	$89	78
17955 Charest St	0.33mi	3/1.0	880 (-6%)	4mo	$51,800	$59	71
19227 Ryan Rd	0.70mi	3/1.0	919 (-2%)	1mo	$38,000	$41	63
18905 Dean St	0.54mi	3/1.0	990 (+6%)	6mo	$88,900	$90	60
18660 Klinger St	0.46mi	4/2.0 (+1)	880 (-6%)	0mo	$21,000	$24	59
18830 Hasse St	0.63mi	3/1.0	898 (-4%)	7mo	$36,500	$41	58
17139 Mackay St	0.75mi	3/1.0	896 (-4%)	1mo	$30,000	$33	58
17892 Mitchell St	0.41mi	3/1.0	1,051 (+12%)	7mo	$32,500	$31	55
18547 Anglin St	0.64mi	3/1.0	1,000 (+7%)	6mo	$93,000	$93	54
19155 Ryan Rd	0.63mi	3/1.0	1,068 (+14%)	2mo	$45,000	$42	45
13826 Gallagher St	0.55mi	2/1.0 (-1)	800 (-14%)	3mo	$90,000	$113	43

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: 10.7%
• Equity multiple: 1.42×
• Total profit: $10,618
• Equity at exit: $13,404

10-year hold

• IRR: 19.7%
• Equity multiple: 2.66×
• Total profit: $41,698
• Equity at exit: $7,773

Cash invested: $25,172 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 170
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,264 high
• Mortgage (P&I): −$471
• Tax from tax record: −$94 /mo · $1,129/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $395

Break-even live

Break-even rent $763

Max offer price $89,900

Occupancy floor 64%

Sensitivity live

Price	-10% $446	-5% $421	+0% $395	+5% $370	+10% $344
Rent	-10% $295	-5% $345	+0% $395	+5% $445	+10% $495
Rate	-1.0pp $441	-0.5pp $418	base $395	+0.5pp $372	+1.0pp $348

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.42mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.57mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	0.72mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	0.83mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.87mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	44d	1	0.87mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.87mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	0.88mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	0.90mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	0.94mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	44d	1	0.94mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.95mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.04mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	1.04mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	1.07mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	1.07mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.11mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.11mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	25d	1	1.38mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	1.47mi

Listing history 6 events

1. 2026-04-18
   status Pending 368-char remark

   Show marketing remark (368 chars)

   Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

2. 2026-04-18
   status Pending 368-char remark

   Show marketing remark (368 chars)

   Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

3. 2026-04-18
   status Pending

   Show marketing remark (368 chars)

   Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

4. 2026-03-31
   listed $89,900 Active 368-char remark

   Show marketing remark (368 chars)

   Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

5. 2026-03-31
   listed $89,900 Active 368-char remark

   Show marketing remark (368 chars)

   Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

6. 2026-03-31
   listed $89,900 Active

   Show marketing remark (368 chars)

   Charming 3-bedroom, 1-bath home! This well-maintained property offers a functional layout with comfortable living spaces and plenty of natural light. Enjoy a fully fenced yard--perfect for pets, entertaining, or relaxing outdoors. Conveniently located near major freeways, providing easy access to downtown Detroit. Great opportunity for homeowners or investors alike!

ⓘ 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: $1,129 · $94/mo
• Projected year-2 tax: $1,257 · $105/mo
• Expected delta: +$128/yr (+$11/mo · 11.3%)

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,164
• − Mortgage interest: −$5,036
• − Property taxes: −$1,129
• − Insurance: −$450
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$2,615
• Taxable income: $3,508
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $3,902/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

6 events — show timeline

• 2026-04-18 Pending — REALCOMP
• 2026-04-18 Pending — MiRealSource-MiMLS
• 2026-04-18 Pending — SW Michigan MLS
• 2026-03-31 Listed $89,900 SW Michigan MLS
• 2026-03-31 Listed $89,900 MiRealSource-MiMLS
• 2026-03-31 Listed $89,900 REALCOMP

Property tax history

-0.5%/yr

Latest (2025): $1,129 · +41.7% YoY. Source: county tax records.