18827 Keystone St · Detroit, MI 48234

$99,500

2 bd · 1.0 ba · 740 sqft · SingleFamily public records · 4 Days on market

Built 1951 3,485 sqft lot

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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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +6.3/10.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully remodeled 2-bedroom, 1-bath brick ranch located in Detroit’s desirable 48234 area. This bright and airy home features an updated kitchen and modern bath, creating a fresh and inviting feel throughout. Enjoy peace of mind with newer roof and windows, plus the convenience of a detached garage and spacious backyard. Perfect for first-time buyers or investors, this move-in ready property offers comfort, style, and functionality at an affordable price. Adding to its appeal, this home carries notable historical significance connected to one of the most influential civil rights-era figures, giving the property a rare and meaningful story. Conveniently located near shopping, dining, and major freeways.

Key facts

• Modern bath
• Newer roof
• Newer windows

Tags

• REMODELED BRICK RANCH
• UPDATED KITCHEN
• MODERN BATH
• NEWER ROOF
• NEWER WINDOWS
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Natural gas; Forced air heating
• Home design: Residential property; One-story; Built in 1951; Basement present
• Construction: Brick construction; Basement foundation; Built in 1951
• Exterior features: Brick exterior; Paved street access; Frontage approximately 30 feet; Lot approximately 0.08 acres

Interior

• Kitchen: Kitchen (entry level) — 12 x 14
• Bedrooms: Bedroom 1 (entry level) — 12 x 10; Bedroom 2 (entry level) — 10 x 10
• Bathrooms: One full bathroom (entry level) — approximately 8 x 6
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 5 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 7.8% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% of the median local income ($35k/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 $688 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 + 6.7% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 5y 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 $42k; list at $100k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,500

Questions for the listing agent

1. Built in 1951 — 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: 1.13% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $33,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19612 Dwyer St	0.70mi	2/1.0	740 (0%)	2mo	$50,000	$68	66
19676 Conley St	0.52mi	2/1.0	720 (-3%)	9mo	$50,000	$69	64
19436 Albany St	0.54mi	3/1.0 (+1)	725 (-2%)	6mo	$17,000	$23	62
18485 Moenart St	0.20mi	3/1.0 (+1)	834 (+13%)	4mo	$58,500	$70	61
19200 Shields St	0.46mi	3/1.0 (+1)	742 (+0%)	15mo	$64,500	$87	61
19255 Binder St	0.71mi	2/1.0	719 (-3%)	3mo	$38,500	$54	60
19667 Sunset St	0.71mi	3/1.5 (+1)	752 (+2%)	4mo	$28,500	$38	54
19600 Syracuse St	0.54mi	3/1.0 (+1)	797 (+8%)	10mo	$18,500	$23	49
19300 Binder St	0.70mi	2/1.0	820 (+11%)	4mo	$10,000	$12	46
19725 Lamont St	0.59mi	3/1.0 (+1)	835 (+13%)	4mo	$10,000	$12	43
19390 Saint Louis St	0.68mi	2/1.0	798 (+8%)	16mo	$10,150	$13	42
18640 Wexford St	0.70mi	2/1.0	798 (+8%)	19mo	$36,000	$45	38

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: -3.5%
• Equity multiple: 0.86×
• Total profit: $-3,831
• Equity at exit: $14,836

10-year hold

• IRR: 10.3%
• Equity multiple: 1.95×
• Total profit: $26,442
• Equity at exit: $8,603

Cash invested: $27,860 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$205 /mo · $2,457/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $123

Break-even live

Break-even rent $972

Max offer price $99,500

Occupancy floor 84%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.50mi
18475 Wexford St Unit 1 Detroit, MI	2.0	1.0	500	$950	$1.90	24d	1	0.78mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.24mi

Listing history 6 events

1. 2026-06-18
   days on market $99,500 Active 4 DOM
2. 2026-06-17
   days on market $99,500 Active 3 DOM
3. 2026-06-16
   days on market $99,500 Active 2 DOM
4. 2026-06-15
   listing id $99,500 Active 1 DOM

   Show marketing remark (737 chars)

   Welcome to this beautifully remodeled 2-bedroom, 1-bath brick ranch located in Detroit’s desirable 48234 area. This bright and airy home features an updated kitchen and modern bath, creating a fresh and inviting feel throughout. Enjoy peace of mind with newer roof and windows, plus the convenience of a detached garage and spacious backyard. Perfect for first-time buyers or investors, this move-in ready property offers comfort, style, and functionality at an affordable price. Adding to its appeal, this home carries notable historical significance connected to one of the most influential civil rights-era figures, giving the property a rare and meaningful story. Conveniently located near shopping, dining, and major freeways.

5. 2026-06-15
   remarks 699-char remark

   Show marketing remark (737 chars)

   Welcome to this beautifully remodeled 2-bedroom, 1-bath brick ranch located in Detroit’s desirable 48234 area. This bright and airy home features an updated kitchen and modern bath, creating a fresh and inviting feel throughout. Enjoy peace of mind with newer roof and windows, plus the convenience of a detached garage and spacious backyard. Perfect for first-time buyers or investors, this move-in ready property offers comfort, style, and functionality at an affordable price. Adding to its appeal, this home carries notable historical significance connected to one of the most influential civil rights-era figures, giving the property a rare and meaningful story. Conveniently located near shopping, dining, and major freeways.

6. 2026-06-15
   listed $99,500 Active 1 DOM

   Show marketing remark (737 chars)

   Welcome to this beautifully remodeled 2-bedroom, 1-bath brick ranch located in Detroit’s desirable 48234 area. This bright and airy home features an updated kitchen and modern bath, creating a fresh and inviting feel throughout. Enjoy peace of mind with newer roof and windows, plus the convenience of a detached garage and spacious backyard. Perfect for first-time buyers or investors, this move-in ready property offers comfort, style, and functionality at an affordable price. Adding to its appeal, this home carries notable historical significance connected to one of the most influential civil rights-era figures, giving the property a rare and meaningful story. Conveniently located near shopping, dining, and major freeways.

ⓘ 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: $2,457 · $205/mo
• Projected year-2 tax: $2,457 · $205/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: $13,537
• − Mortgage interest: −$5,574
• − Property taxes: −$2,457
• − Insurance: −$498
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$2,895
• Taxable loss: −$51
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $1,491/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

+148.8% since first listed

23 events — show timeline

• 2026-06-15 Listed $99,500 MiRealSource-MiMLS
• 2026-06-15 Listed $99,500 REALCOMP
• 2026-06-14 Coming Soon $99,500 MiRealSource-MiMLS
• 2022-08-02 Listing Removed — REALCOMP
• 2022-08-01 Listing Removed — MiRealSource-MiMLS
• 2022-03-30 Price Changed $28,500 MiRealSource-MiMLS
• 2022-03-30 Price Changed $28,500 REALCOMP
• 2022-03-03 Price Changed $29,000 MiRealSource-MiMLS
• 2022-03-03 Price Changed $29,000 REALCOMP
• 2022-02-18 Price Changed $29,500 MiRealSource-MiMLS
• 2022-02-18 Price Changed $29,500 REALCOMP
• 2022-02-05 Listed $30,000 MiRealSource-MiMLS
• 2022-02-05 Listed $30,000 REALCOMP
• 2022-02-01 Coming Soon — MiRealSource-MiMLS
• 2022-02-01 Coming Soon — REALCOMP
• 2021-07-01 Sold (MLS) $42,000 MiRealSource-MiMLS
• 2021-07-01 Sold (MLS) $42,000 REALCOMP
• 2021-06-29 Contingent — MiRealSource-MiMLS
• 2021-06-29 Contingent — REALCOMP
• 2021-06-21 Listed $40,000 MiRealSource-MiMLS
• 2021-06-21 Listed $40,000 REALCOMP
• 2021-06-17 Coming Soon $40,000 MiRealSource-MiMLS
• 2021-06-17 Coming Soon $40,000 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $2,457 · +0.9% YoY. Source: county tax records.