18866 Hull St · Detroit, MI 48203

$65,000

5 bd · 1.0 ba · 1,362 sqft · SingleFamily public records · 72 Days on market

Built 1929 4,356 sqft lot $48/sqft · 41% above area Est $80k · 19% 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 +15.0/15.0
• 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

INVESTOR'S SPECIAL "“ 5 BEDROOM OPPORTUNITY! This spacious single-family home offers incredible potential for investors or buyers looking to add value. Featuring a formal dining room, large kitchen, and generous room sizes throughout, the layout is ideal for comfortable living and future improvements. A new roof installed in 2026 adds major value and peace of mind. The home now includes 2 full bathrooms, with 2 bedrooms and a full bath on the main floor and 3 additional bedrooms with another full bath upstairs, creating an excellent setup for a rental opportunity. Additional features include an unfinished basement, a large backyard, and a location on a thriving street. This property is full of potential and ready for your vision. Property needs TLC and is being sold AS-IS. Conveniently located near freeways, schools, and shopping with easy access to surrounding areas.

Key facts

• 4,356 sq ft lot
• Built 1929
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $925 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.4% 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: 216 active listings in the ZIP; 3 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 $1,746/mo this rent would consume 55% of the median local household income ($38k/yr) (locally 1192% 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 $449 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 + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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 $19k; list at $65k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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: 2.69% ✓
• Cap rate: 23.38%
• Cash-on-cash: 61.01%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (median comp): $79,909
• List price: $65,000
• Delta: -18.66%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18051 Orleans St	0.40mi	4/2.0 (-1)	1,300 (-5%)	9mo	$39,000	$30	57
18938 Saint Aubin St	0.38mi	5/2.0	1,469 (+8%)	11mo	$135,000	$92	56
17496 Saint Aubin St	0.72mi	4/1.5 (-1)	1,377 (+1%)	5mo	$25,000	$18	53
18057 Fleming st St	0.57mi	4/2.0 (-1)	1,250 (-8%)	7mo	$127,000	$102	45
17803 Saint Aubin St	0.65mi	4/2.0 (-1)	1,518 (+12%)	6mo	$50,001	$33	37
19208 Keating St	0.61mi	5/2.0	1,500 (+10%)	23mo	$99,000	$66	32
19208 Fleming St	0.54mi	4/2.0 (-1)	1,200 (-12%)	20mo	$62,500	$52	29

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: 59.8%
• Equity multiple: 3.66×
• Total profit: $48,430
• Equity at exit: $9,692

10-year hold

• IRR: 64.6%
• Equity multiple: 7.49×
• Total profit: $118,177
• Equity at exit: $5,620

Cash invested: $18,200 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$86 /mo · $1,037/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $925

Break-even live

Break-even rent $575

Max offer price $65,000

Occupancy floor 42%

Sensitivity live

Price	-10% $962	-5% $944	+0% $925	+5% $907	+10% $889
Rent	-10% $787	-5% $856	+0% $925	+5% $994	+10% $1,063
Rate	-1.0pp $958	-0.5pp $942	base $925	+0.5pp $908	+1.0pp $891

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20008 Hull St Highland Park, MI	5.0	2.0	1332	$1,600	$1.20	17d	1	0.72mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.94mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	11d	1	1.47mi

Listing history 25 events

1. 2026-06-18
   days on market $65,000 Active 72 DOM
2. 2026-06-17
   days on market $65,000 Active 71 DOM
3. 2026-06-15
   days on market $65,000 Active 69 DOM
4. 2026-06-13
   days on market $65,000 Active 67 DOM
5. 2026-06-13
   days on market $65,000 Active 66 DOM
6. 2026-06-09
   days on market $65,000 Active 63 DOM
7. 2026-06-08
   days on market $65,000 Active 62 DOM
8. 2026-06-07
   days on market $65,000 Active 61 DOM
9. 2026-06-04
   days on market $65,000 Active 58 DOM
10. 2026-06-03
    days on market $65,000 Active 57 DOM
11. 2026-06-02
    days on market $65,000 Active 56 DOM
12. 2026-06-01
    days on market $65,000 Active 55 DOM
13. 2026-05-31
    days on market $65,000 Active 54 DOM
14. 2026-04-03
    listed $65,000 Active 891-char remark

    Show marketing remark (891 chars)

    INVESTOR’S SPECIAL – 5 BEDROOM OPPORTUNITY! This spacious single-family home offers incredible potential for investors or buyers looking to add value. Featuring a formal dining room, large kitchen, and generous room sizes throughout, the layout is ideal for comfortable living and future improvements. A new roof installed in 2026 adds major value and peace of mind. The home now includes 2 full bathrooms, with 2 bedrooms and a full bath on the main floor and 3 additional bedrooms with another full bath upstairs, creating an excellent setup for a rental opportunity. Additional features include an unfinished basement, a large backyard, and a location on a thriving street. This property is full of potential and ready for your vision. Property needs TLC and is being sold AS-IS. Conveniently located near freeways, schools, and shopping with easy access to surrounding areas.

15. 2026-04-03
    listed $65,000 Active 891-char remark

    Show marketing remark (891 chars)

    INVESTOR’S SPECIAL – 5 BEDROOM OPPORTUNITY! This spacious single-family home offers incredible potential for investors or buyers looking to add value. Featuring a formal dining room, large kitchen, and generous room sizes throughout, the layout is ideal for comfortable living and future improvements. A new roof installed in 2026 adds major value and peace of mind. The home now includes 2 full bathrooms, with 2 bedrooms and a full bath on the main floor and 3 additional bedrooms with another full bath upstairs, creating an excellent setup for a rental opportunity. Additional features include an unfinished basement, a large backyard, and a location on a thriving street. This property is full of potential and ready for your vision. Property needs TLC and is being sold AS-IS. Conveniently located near freeways, schools, and shopping with easy access to surrounding areas.

16. 2025-08-31
    historical
17. 2025-08-30
    historical
18. 2025-05-14
    listed $39,900 Active
19. 2025-05-14
    listed $39,900 Active
20. 2018-03-28
    soldstatus $19,000 Sold
21. 2018-03-28
    soldstatus $19,000 Closed
22. 2018-03-13
    status Pending
23. 2018-03-12
    status Pending
24. 2018-01-04
    listed $19,000 Active
25. 2018-01-04
    listed $19,000 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: $1,037 · $86/mo
• Projected year-2 tax: $1,037 · $86/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: $20,958
• − Mortgage interest: −$3,641
• − Property taxes: −$1,037
• − Insurance: −$325
• − Repairs & maintenance: −$1,677
• − Management: −$1,677
• − Depreciation: −$1,891
• Taxable income: $10,710
• Est. tax owed @ 24.0%: −$2,570
• After-tax cash flow: $8,533/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• 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

+242.1% since first listed

12 events — show timeline

• 2026-04-03 Listed $65,000 MiRealSource-MiMLS
• 2026-04-03 Listed $65,000 REALCOMP
• 2025-08-31 Listing Removed — MiRealSource-MiMLS
• 2025-08-30 Listing Removed — REALCOMP
• 2025-05-14 Listed $39,900 REALCOMP
• 2025-05-14 Listed $39,900 MiRealSource-MiMLS
• 2018-03-28 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2018-03-28 Sold (MLS) $19,000 REALCOMP
• 2018-03-13 Pending — MiRealSource-MiMLS
• 2018-03-12 Pending — REALCOMP
• 2018-01-04 Listed $19,000 MiRealSource-MiMLS
• 2018-01-04 Listed $19,000 REALCOMP

Property tax history

+0.2%/yr

Latest (2025): $1,037 · -53.8% YoY. Source: county tax records.