19176 Spencer St · Detroit, MI 48234

$59,000

4 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 207 Days on market

Built 1929 3,049 sqft lot $44/sqft · 20% below area Est $73k · 20% 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
• 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

Here is an investment opportunity near 7 Mile and Van Dyke. Spacious brick bungalow would be a good candidate to flip or fix up and rent. Upper level has a flexible layout that could accommodate an additional bedroom. Some rehab required, cash or dscr buyers only.

Key facts

• Flexible layout
• 3,049 sq ft lot
• Built 1929

Tags

• SPACIOUS BRICK BUNGALOW
• FLEXIBLE LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 10.1% 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); 227 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,401/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 $408 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 207 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 26y ago; this cycle's ask has dropped $12k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% 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: 2.38% ✓
• Cap rate: 19.66%
• Cash-on-cash: 47.73%
• DSCR: 3.12
• GRM: 3.5

CMA / ARV

• ARV (median comp): $73,374
• List price: $59,000
• Delta: -19.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8078 Rolyat St	0.35mi	3/1.0 (-1)	1,317 (-1%)	2mo	$40,000	$30	76
19363 Packard St	0.15mi	3/1.5 (-1)	1,368 (+3%)	8mo	$60,000	$44	74
19487 Spencer St	0.25mi	3/1.0 (-1)	1,285 (-3%)	8mo	$53,000	$41	72
19466 Packard St	0.23mi	3/1.0 (-1)	1,179 (-11%)	6mo	$62,000	$53	61
8175 House St	0.28mi	3/1.0 (-1)	1,160 (-12%)	1mo	$100,000	$86	60
19178 Sherwood St	0.40mi	3/2.5 (-1)	1,381 (+4%)	8mo	$149,000	$108	57
19610 Cliff St	0.30mi	3/1.0 (-1)	1,183 (-11%)	8mo	$45,000	$38	56
4001 E Outer Dr	0.60mi	3/2.0 (-1)	1,400 (+6%)	2mo	$105,000	$75	52
20143 Rogge St	0.66mi	3/1.0 (-1)	1,411 (+6%)	7mo	$84,000	$60	48
20000 Concord St	0.62mi	3/1.0 (-1)	1,200 (-10%)	4mo	$140,000	$117	46
19985 Packard St	0.53mi	3/2.0 (-1)	1,152 (-13%)	7mo	$90,000	$78	39
20178 Stotter ST St	0.67mi	5/3.0 (+1)	1,440 (+9%)	7mo	$31,096	$22	35

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: 49.5%
• Equity multiple: 3.29×
• Total profit: $37,780
• Equity at exit: $8,797

10-year hold

• IRR: 56.6%
• Equity multiple: 7.72×
• Total profit: $111,088
• Equity at exit: $5,101

Cash invested: $16,520 (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: 227
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$309
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $657

Break-even live

Break-even rent $570

Max offer price $59,000

Occupancy floor 48%

Sensitivity live

Price	-10% $691	-5% $674	+0% $657	+5% $640	+10% $624
Rent	-10% $546	-5% $602	+0% $657	+5% $712	+10% $768
Rate	-1.0pp $687	-0.5pp $672	base $657	+0.5pp $642	+1.0pp $626

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.14mi
19682 Rogge St Detroit, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	0.39mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	45d	1	0.60mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	25d	1	0.89mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	45d	1	0.96mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	3d	1	0.97mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	25d	1	1.04mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	1.18mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	45d	1	1.18mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	1.18mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,250	$1.09	0d	1	1.26mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	12d	1	1.27mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	18d	1	1.31mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	18d	1	1.32mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	18d	1	1.33mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	1.44mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	23d	1	1.44mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,200	$0.92	0d	1	1.45mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	25d	1	1.45mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	1.46mi

Listing history 50 events

1. 2026-06-21
   days on market $59,000 Active 207 DOM
2. 2026-06-18
   days on market $59,000 Active 204 DOM
3. 2026-06-17
   days on market $59,000 Active 203 DOM
4. 2026-06-15
   days on market $59,000 Active 201 DOM
5. 2026-06-13
   days on market $59,000 Active 199 DOM
6. 2026-06-13
   days on market $59,000 Active 198 DOM
7. 2026-06-10
   price $59,000 Active 195 DOM
8. 2026-06-09
   days on market $65,000 Active 195 DOM
9. 2026-06-08
   days on market $65,000 Active 194 DOM
10. 2026-06-07
    days on market $65,000 Active 193 DOM
11. 2026-06-04
    days on market $65,000 Active 190 DOM
12. 2026-06-03
    days on market $65,000 Active 189 DOM
13. 2026-06-01
    days on market $65,000 Active 187 DOM
14. 2026-05-31
    days on market $65,000 Active 186 DOM
15. 2026-04-07
    price $65,000 264-char remark

    Show marketing remark (264 chars)

    Here is an investment opportunity near 7 Mile and Van Dyke. Spacious brick bungalow would be a good candidate to flip or fix up and rent. Upper level has a flexible layout that could accommodate an additional bedroom. Some rehab required, cash or dscr buyers only.

16. 2026-04-06
    price $65,000 264-char remark

    Show marketing remark (264 chars)

    Here is an investment opportunity near 7 Mile and Van Dyke. Spacious brick bungalow would be a good candidate to flip or fix up and rent. Upper level has a flexible layout that could accommodate an additional bedroom. Some rehab required, cash or dscr buyers only.

17. 2025-11-26
    listed $71,000 Active 264-char remark

    Show marketing remark (264 chars)

    Here is an investment opportunity near 7 Mile and Van Dyke. Spacious brick bungalow would be a good candidate to flip or fix up and rent. Upper level has a flexible layout that could accommodate an additional bedroom. Some rehab required, cash or dscr buyers only.

18. 2025-11-26
    listed $71,000 Active 264-char remark

    Show marketing remark (264 chars)

    Here is an investment opportunity near 7 Mile and Van Dyke. Spacious brick bungalow would be a good candidate to flip or fix up and rent. Upper level has a flexible layout that could accommodate an additional bedroom. Some rehab required, cash or dscr buyers only.

19. 2022-03-03
    soldstatus $71,000
20. 2022-01-28
    soldstatus $53,500
21. 2022-01-14
    soldstatus $53,500 Sold
22. 2022-01-14
    soldstatus $53,500 Closed
23. 2021-11-18
    status Pending
24. 2021-11-18
    status Pending
25. 2021-09-24
    status Active
26. 2021-09-24
    status Active
27. 2021-09-15
    status Pending
28. 2021-09-15
    status Pending
29. 2021-08-13
    listed $54,900 Active
30. 2021-08-13
    listed $54,900 Active
31. 2010-12-06
    historical
32. 2010-12-05
    historical
33. 2010-01-06
    listed $14,900
34. 2010-01-06
    listed $14,900
35. 2008-06-27
    soldstatus $1,200
36. 2008-06-27
    soldstatus $1,200
37. 2008-05-21
    historical
38. 2008-03-25
    listed $3,900
39. 2008-03-25
    listed $3,900
40. 2007-12-01
    historical
41. 2007-02-01
    listed $49,900
42. 2003-02-04
    soldstatus $60,000
43. 2002-12-18
    historical
44. 2002-07-16
    listed $69,900
45. 2000-08-25
    historical
46. 2000-05-25
    listed $75,000
47. 1999-05-03
    soldstatus $36,283
48. 1998-07-08
    soldstatus $31,900
49. 1994-04-18
    soldstatus $30,000
50. 1993-10-18
    soldstatus $8,000

ⓘ 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: $1,392 · $116/mo
• Projected year-2 tax: $1,392 · $116/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 5/10 Major FEMA zone X (unshaded) · 41% 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,817
• − Mortgage interest: −$3,305
• − Property taxes: −$1,392
• − Insurance: −$295
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$1,716
• Taxable income: $7,418
• Est. tax owed @ 24.0%: −$1,780
• After-tax cash flow: $6,105/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

+712.5% since first listed

36 events — show timeline

• 2026-04-07 Price Changed $65,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $65,000 REALCOMP
• 2025-11-26 Listed $71,000 REALCOMP
• 2025-11-26 Listed $71,000 MiRealSource-MiMLS
• 2022-03-03 Sold (Public Records) $71,000 Public Records
• 2022-01-28 Sold (Public Records) $53,500 Public Records
• 2022-01-14 Sold (MLS) $53,500 MiRealSource-MiMLS
• 2022-01-14 Sold (MLS) $53,500 REALCOMP
• 2021-11-18 Pending — MiRealSource-MiMLS
• 2021-11-18 Pending — REALCOMP
• 2021-09-24 Relisted — REALCOMP
• 2021-09-24 Relisted — MiRealSource-MiMLS
• 2021-09-15 Pending — MiRealSource-MiMLS
• 2021-09-15 Pending — REALCOMP
• 2021-08-13 Listed $54,900 MiRealSource-MiMLS
• 2021-08-13 Listed $54,900 REALCOMP
• 2010-12-06 Listing Removed — MiRealSource-MiMLS
• 2010-12-05 Listing Removed — REALCOMP
• 2010-01-06 Listed $14,900 REALCOMP
• 2010-01-06 Listed $14,900 MiRealSource-MiMLS
• 2008-06-27 Sold (MLS) $1,200 REALCOMP
• 2008-06-27 Sold (MLS) $1,200 MiRealSource-MiMLS
• 2008-05-21 Listing Removed — MiRealSource-MiMLS
• 2008-03-25 Listed $3,900 REALCOMP
• 2008-03-25 Listed $3,900 MiRealSource-MiMLS
• 2007-12-01 Listing Removed — REALCOMP
• 2007-02-01 Listed $49,900 REALCOMP
• 2003-02-04 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2002-12-18 Listing Removed — MiRealSource-MiMLS
• 2002-07-16 Listed $69,900 MiRealSource-MiMLS
• 2000-08-25 Listing Removed — REALCOMP
• 2000-05-25 Listed $75,000 REALCOMP
• 1999-05-03 Sold (Public Records) $36,283 Public Records
• 1998-07-08 Sold (Public Records) $31,900 Public Records
• 1994-04-18 Sold (Public Records) $30,000 Public Records
• 1993-10-18 Sold (Public Records) $8,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,392 · -37.3% YoY. Source: county tax records.