18697 Schaefer Hwy E · Detroit, MI 48235

$99,000

2 bd · 1.0 ba · 963 sqft · SingleFamily public records · 15 Days on market

Built 1948 3,485 sqft lot Est $77k · 29% over

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Why this score? — see what drove the D 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 +20.6/30.0
• 1% rule +7.1/10.0
• DSCR +6.5/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER, THIS IS A HALF OF A DUPLEX TENANT OCCUPIED. DO NOT APPROACH THE TENANT. FOR SHOWINGS CONTACT THE AGENT. GREAT RENTAL INCOME.

Key facts

• 3,485 sq ft lot
• Built 1948
• Listed 14 days

Property features AI

Finance

• Other: Lot frontage approximately 20 feet; Acreage approximately 0.08 acres; Below-grade finished area reported
• Financial info: Has lease
• HOA & community: No land contract

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Natural gas service; Forced air heating
• Home design: Duplex residential property; 2-story structure built in 1948; Entry-level living spaces
• Construction: Vinyl siding exterior; Basement foundation; Built in 1948
• Exterior features: Vinyl siding; Paved street frontage

Interior

• Kitchen: Kitchen on entry level with ceramic flooring (approx. 7 x 4)
• Bedrooms: Two bedrooms on the second floor with wood flooring (each approx. 10 x 10)
• Flooring: Wood flooring in living room, dining room and bedrooms; Ceramic flooring in kitchen and bathroom
• Bathrooms: One full bathroom with ceramic flooring (bathroom located on entry level, approx. 7 x 4)
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Cable/Internet available; Partially finished basement
• Laundry & utility: Basement present (partially finished)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 10.0% 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 (+3.2%/yr); 290 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 37% of the median local income ($39k/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 $684 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask is 230% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $25k; list at $99k implies a 296% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.21% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.70%
• DSCR: 1.25
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $77,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19193 Lesure St	0.28mi	2/2.0	909 (-6%)	1mo	$140,000	$154	73
19484 Schaefer Hwy	0.50mi	2/1.0	1,000 (+4%)	2mo	$50,000	$50	69
19341 Schaefer Hwy	0.34mi	2/1.0	1,023 (+6%)	8mo	$37,500	$37	67
19161 Meyers Rd	0.54mi	2/1.0	894 (-7%)	3mo	$87,500	$98	61
18081 Meyers Rd	0.64mi	2/1.5	946 (-2%)	6mo	$75,000	$79	60
18235 Tracey St	0.31mi	3/2.0 (+1)	1,055 (+10%)	4mo	$67,000	$64	57
19483 Meyers Rd	0.70mi	2/1.0	926 (-4%)	6mo	$41,000	$44	56
18435 Robson St	0.71mi	3/1.0 (+1)	925 (-4%)	0mo	$86,000	$93	55
19159 Meyers Rd	0.54mi	2/1.0	1,094 (+14%)	3mo	$87,500	$80	50
18476 Mark Twain St	0.37mi	3/1.0 (+1)	1,089 (+13%)	8mo	$71,000	$65	50
18058 Tracey St	0.42mi	3/1.0 (+1)	1,090 (+13%)	9mo	$120,000	$110	46
19978 Tracey St	0.73mi	3/1.0 (+1)	1,038 (+8%)	7mo	$135,000	$130	42

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-7,252
• Equity at exit: $14,761

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $6,130
• Equity at exit: $8,560

Cash invested: $27,720 (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 48235

• Rents YoY: 3.2%
• Active inventory: 290
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,197 high
• Mortgage (P&I): −$519
• Tax from tax record: −$253 /mo · $3,038/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $132

Break-even live

Break-even rent $1,030

Max offer price $99,000

Occupancy floor 84%

Sensitivity live

Price	-10% $188	-5% $160	+0% $132	+5% $104	+10% $76
Rent	-10% $37	-5% $84	+0% $132	+5% $179	+10% $226
Rate	-1.0pp $182	-0.5pp $157	base $132	+0.5pp $106	+1.0pp $80

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	25d	1	0.13mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	3d	1	0.18mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	45d	1	0.18mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,500	$1.49	0d	1	0.47mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	6d	1	0.48mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	45d	1	0.52mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	18d	1	0.92mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	0.93mi
18461 Washburn St Detroit, MI	1.0	1.0	690	$775	$1.12	45d	1	0.98mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	45d	2	1.00mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	6d	1	1.00mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	21d	1	1.01mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	45d	1	1.02mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	4d	1	1.10mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	18d	1	1.17mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	1.19mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	1.22mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	5d	1	1.25mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	1.29mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.31mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	45d	1	1.33mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	18d	1	1.33mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	18d	1	1.34mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	18d	1	1.39mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	45d	1	1.40mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	45d	1	1.43mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.44mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	25d	1	1.47mi

Listing history 12 events

1. 2026-06-21
   days on market $99,000 Active 15 DOM
2. 2026-06-18
   days on market $99,000 Active 12 DOM
3. 2026-06-17
   days on market $99,000 Active 11 DOM
4. 2026-06-16
   days on market $99,000 Active 10 DOM
5. 2026-06-15
   days on market $99,000 Active 9 DOM
6. 2026-06-13
   days on market $99,000 Active 7 DOM
7. 2026-06-13
   days on market $99,000 Active 6 DOM
8. 2026-06-09
   days on market $99,000 Active 3 DOM
9. 2026-06-08
   days on market $99,000 Active 2 DOM
10. 2026-06-07
    statuslisting id $99,000 Active 1 DOM
11. 2026-06-04
    remarks 679-char remark
12. 2026-06-04
    listed $99,000 Coming Soon 1 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: $3,038 · $253/mo
• Projected year-2 tax: $3,038 · $253/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: $14,359
• − Mortgage interest: −$5,546
• − Property taxes: −$3,038
• − Insurance: −$495
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − Depreciation: −$2,880
• Taxable income: $103
• Est. tax owed @ 24.0%: −$25
• After-tax cash flow: $1,556/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+230.0% since first listed

10 events — show timeline

• 2026-06-03 Coming Soon $99,000 MiRealSource-MiMLS
• 2018-12-30 Pending — REALCOMP
• 2018-12-28 Sold (MLS) $25,000 REALCOMP
• 2018-10-25 Price Changed $26,000 MiRealSource-MiMLS
• 2018-10-25 Price Changed $26,000 REALCOMP
• 2018-10-04 Listed $30,000 MiRealSource-MiMLS
• 2018-10-04 Listed $30,000 REALCOMP
• 2014-05-04 Sold (MLS) $600 MiRealSource-MiMLS
• 2014-02-04 Listing Removed — MiRealSource-MiMLS
• 2013-11-18 Listed $600 MiRealSource-MiMLS

Property tax history

+12.0%/yr

Latest (2025): $3,038 · +0.8% YoY. Source: county tax records.