18718 Snowden St · Detroit, MI 48235 1378

$97,000

2 bd · 1.0 ba · 1,240 sqft · SingleFamily public records · 87 Days on market

Built 1940 Fair condition 5,227 sqft lot 1-car garage $78/sqft · at area comps Est $193k · 50% 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0

Listing remarks MLS

National Real Estate Management Group is excited to announce your next investment opportunity. Welcome to this charming 2 bedroom, 1 bathroom bungalow style home with a three seasons room. This corner lot features a single stall garage and spacious yard. The property is located nearby to University of Detroit Mercy, Oakland Community College, parks, retail, restaurants and easy access to freeways. At National Real Estate Management Group, our listings come with built-in property management for seamless, turnkey investments. Our full-service approach covers everything from construction completion to tenant placement and ongoing management. Services include comprehensive property management, tenant screening, financial reporting, legal compliance, and streamlined communication. Choose National Real Estate Management Group for a worry-free investment experience.

Key facts

• Spacious yard
• Three seasons room
• Corner lot

Tags

• THREE SEASONS ROOM
• CORNER LOT
• SPACIOUS YARD
• EASY ACCESS TO FREEWAYS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $97k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $91k (6.0% 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: 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.
• Zoned schools: Vernor Elementary School (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 328 students, 87% FRL); Mumford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 889 students, 86% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($671 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $53k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.34% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.38%
• DSCR: 1.68
• GRM: 6.2

CMA / ARV

• ARV (median comp): $193,223
• List price: $97,000
• Delta: -49.80%
• 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
18915 Steel St	0.23mi	2/1.5	1,276 (+3%)	6mo	$90,000	$71	77
18243 Freeland St	0.56mi	3/1.5 (+1)	1,218 (-2%)	0mo	$190,000	$156	64
17621 Meyers Rd	0.61mi	2/2.0	1,264 (+2%)	2mo	$40,000	$32	63
18292 Mendota St	0.66mi	3/1.0 (+1)	1,232 (-1%)	2mo	$145,000	$118	62
19159 Meyers Rd	0.40mi	2/1.0	1,094 (-12%)	4mo	$87,500	$80	58
18436 Strathmoor St	0.59mi	3/1.5 (+1)	1,187 (-4%)	1mo	$100,000	$84	58
19719 Ward St	0.54mi	2/1.5	1,160 (-6%)	7mo	$120,000	$103	56
18300 Mendota St	0.65mi	3/1.0 (+1)	1,303 (+5%)	2mo	$159,900	$123	54
18235 Tracey St	0.39mi	3/2.0 (+1)	1,055 (-15%)	5mo	$67,000	$64	44
18093 Mendota St	0.70mi	3/1.0 (+1)	1,132 (-9%)	5mo	$133,000	$117	44
13517 Pembroke Ave	0.63mi	3/1.5 (+1)	1,386 (+12%)	5mo	$92,000	$66	40
18600 Marlowe St	0.68mi	3/1.5 (+1)	1,403 (+13%)	1mo	$110,000	$78	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 2.25×
• Total profit: $33,888
• Equity at exit: $43,615

10-year hold

• IRR: 23.0%
• Equity multiple: 4.30×
• Total profit: $89,612
• Equity at exit: $67,217

Cash invested: $27,160 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 54 active · 51 under contract
• Months of supply: 7.5 mo (13%/mo absorbed)
• Median asking: $150,000 ($124/sqft)
• Median days on market: 44 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: +25.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48235 1378

• Active inventory: 1
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$509
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $348

Break-even live

Break-even rent $864

Max offer price $97,000

Occupancy floor 68%

Sensitivity live

Price	-10% $403	-5% $376	+0% $348	+5% $321	+10% $293
Rent	-10% $245	-5% $297	+0% $348	+5% $400	+10% $451
Rate	-1.0pp $397	-0.5pp $373	base $348	+0.5pp $323	+1.0pp $297

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: $24,250
• Closing costs: $2,910
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	73d	1	0.15mi
18283 Tracey St Detroit, MI	3.0	1.0	1200	$1,600	$1.33	15d	1	0.33mi
18260 Sorrento St Detroit, MI	3.0	1.5	1500	$1,500	$1.00	23d	1	0.36mi
19300 Lesure St Detroit, MI	2.0	1.0	928	$1,150	$1.24	21d	1	0.36mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	93d	1	0.36mi
18472 Meyers Rd Detroit, MI	2.0	1.0	918	$1,295	$1.41	38d	1	0.42mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$950	$1.06	25d	1	0.49mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,425	$1.41	21d	1	0.52mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	66d	1	0.59mi
18301 Birwood St Detroit, MI	3.0	1.0	925	$1,475	$1.59	23d	1	0.69mi
18294 Marlowe St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	29d	1	0.71mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,450	$1.21	29d	1	0.79mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	66d	1	0.83mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	52d	1	0.86mi
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,300	$0.90	47d	1	0.89mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	93d	2	0.91mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	69d	1	0.92mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	93d	1	0.94mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	54d	1	0.98mi
20025 Hubbell St Detroit, MI	3.0	1.0	1022	$1,450	$1.42	21d	1	0.99mi
20426 Tracey St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	73d	1	1.01mi
20245 Manor Detroit, MI	3.0	1.5	1018	$1,400	$1.38	42d	1	1.03mi
16896 Manor St Detroit, MI	3.0	1.0	1158	$1,500	$1.30	10d	1	1.03mi
8805 Kingswood St Detroit, MI	1.0–2.0	1.0–2.0	955	$1,430	$1.50	10d	6	1.05mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	68d	1	1.08mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	66d	1	1.10mi
16580 Ward St Detroit, MI	2.0	1.0	900	$1,200	$1.33	36d	1	1.12mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	38d	1	1.15mi
16605 Freeland St Detroit, MI	3.0	1.0	880	$1,400	$1.59	18d	1	1.17mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	93d	1	1.19mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	60d	1	1.21mi
20473 Hubbell Ave Detroit, MI	2.0	1.0	1000	$1,300	$1.30	38d	1	1.21mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	66d	1	1.24mi
16253 Appoline St Detroit, MI	3.0	1.0	1162	$1,400	$1.20	42d	1	1.24mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$950	$1.04	24d	1	1.25mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	66d	1	1.27mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	54d	1	1.28mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	93d	1	1.28mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	93d	1	1.31mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	93d	1	1.32mi

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne and one-half storiesGround-level entry with steps
• Construction: Brick constructionBlock foundation
• Exterior features: Paved road accessLot approximately 0.12 acres (44.12 x 120)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)No central cooling
• Interior features: Partially finished basementTotal of 5 rooms

Listing history 50 events

1. 2026-08-08
   days on market $97,000 Active 87 DOM
2. 2026-08-06
   days on market $97,000 Active 85 DOM
3. 2026-08-05
   days on market $97,000 Active 84 DOM
4. 2026-08-04
   days on market $97,000 Active 83 DOM
5. 2026-08-03
   days on market $97,000 Active 82 DOM
6. 2026-07-31
   days on market $97,000 Active 79 DOM
7. 2026-07-30
   days on market $97,000 Active 78 DOM
8. 2026-07-30
   days on market $97,000 Active 77 DOM
9. 2026-07-28
   days on market $97,000 Active 76 DOM
10. 2026-07-26
    days on market $97,000 Active 74 DOM
11. 2026-07-24
    days on market $97,000 Active 72 DOM
12. 2026-07-23
    listing id $97,000 Active 71 DOM
13. 2026-07-23
    days on market $97,000 Active 71 DOM
14. 2026-07-22
    days on market $97,000 Active 70 DOM
15. 2026-07-21
    days on market $97,000 Active 69 DOM
16. 2026-07-20
    days on market $97,000 Active 68 DOM
17. 2026-07-18
    days on market $97,000 Active 66 DOM
18. 2026-07-18
    days on market $97,000 Active 65 DOM
19. 2026-07-16
    days on market $97,000 Active 64 DOM
20. 2026-07-15
    days on market $97,000 Active 63 DOM
21. 2026-07-14
    days on market $97,000 Active 62 DOM
22. 2026-07-13
    days on market $97,000 Active 61 DOM
23. 2026-07-13
    days on market $97,000 Active 60 DOM
24. 2026-07-11
    days on market $97,000 Active 59 DOM
25. 2026-07-10
    days on market $97,000 Active 58 DOM
26. 2026-07-09
    days on market $97,000 Active 57 DOM
27. 2026-07-07
    days on market $97,000 Active 55 DOM
28. 2026-07-06
    days on market $97,000 Active 54 DOM
29. 2026-07-06
    days on market $97,000 Active 53 DOM
30. 2026-07-05
    days on market $97,000 Active 52 DOM
31. 2026-07-03
    days on market $97,000 Active 51 DOM
32. 2026-07-02
    days on market $97,000 Active 50 DOM
33. 2026-07-01
    days on market $97,000 Active 49 DOM
34. 2026-06-30
    days on market $97,000 Active 48 DOM
35. 2026-06-29
    days on market $97,000 Active 47 DOM
36. 2026-06-28
    days on market $97,000 Active 46 DOM
37. 2026-06-27
    days on market $97,000 Active 45 DOM
38. 2026-06-26
    days on market $97,000 Active 44 DOM
39. 2026-06-24
    days on market $97,000 Active 42 DOM
40. 2026-06-22
    pricedays on market $97,000 Active 40 DOM
41. 2026-06-21
    days on market $150,000 Active 39 DOM
42. 2026-06-18
    days on market $150,000 Active 36 DOM
43. 2026-06-17
    days on market $150,000 Active 35 DOM
44. 2026-06-15
    days on market $150,000 Active 33 DOM
45. 2026-06-13
    days on market $150,000 Active 31 DOM
46. 2026-06-13
    days on market $150,000 Active 30 DOM
47. 2026-06-09
    days on market $150,000 Active 27 DOM
48. 2026-06-08
    days on market $150,000 Active 26 DOM
49. 2026-06-07
    days on market $150,000 Active 25 DOM
50. 2026-06-04
    days on market $150,000 Active 22 DOM

ⓘ 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: $1,599 · $133/mo
• Projected year-2 tax: $1,599 · $133/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,654
• − Mortgage interest: −$5,434
• − Property taxes: −$1,599
• − Insurance: −$485
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$2,822
• Taxable income: $2,810
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $3,504/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $31,000–$55,800 screening

This single-family home requires moderate repairs and maintenance, particularly in the landscaping and fencing areas. Improvements in these areas will significantly enhance its curb appeal and increase its value for both resale and rental purposes.

Repairs flagged

• Major Landscaping — The landscaping is overgrown and needs trimming and maintenance.
• Major Fencing — The fencing appears to be in poor condition and may need repair or replacement.
• Moderate Exterior walls and siding — There is visible wear and tear on the exterior walls and siding that may need repainting or minor repairs.

Value-add opportunities

• Both Landscaping and fencing repairs — Improving the landscaping and fencing will enhance the curb appeal and increase both resale and rental value. ↑
• Both Painting exterior walls and siding — Painting the exterior walls and siding will improve the home's appearance and increase its value. ↑
• Both Landscaping and fencing repairs — Improving the landscaping and fencing will enhance the curb appeal and increase both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 24/100

Zoned Schools

Elementary Vernor Elementary School F MI #980/1,397 Nat'l #30,133/41,679 High Mumford High School F MI #481/713 Nat'l #12,478/17,239

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

B Composite livability gradescore 73/100

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

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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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne and one-half storiesGround-level entry with steps
• Construction: Brick constructionBlock foundation
• Exterior features: Paved road accessLot approximately 0.12 acres (44.12 x 120)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)No central cooling
• Interior features: Partially finished basementTotal of 5 rooms

Price history

+20.1% since first listed

5 events — show timeline

• 2026-05-13 Listed $150,000 MiRealSource-MiMLS
• 2026-05-13 Listed $150,000 REALCOMP
• 2006-06-21 Sold (Public Records) $90,000 Public Records
• 2005-08-16 Listing Removed — REALCOMP
• 2005-06-17 Listed $124,900 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $1,599 · +4.3% YoY. Source: county tax records.