18087 Gable St · Detroit, MI 48234

$167,900

3 bd · 1.0 ba · 950 sqft · Townhouse public records · 89 Days on market

Built 1926 4,356 sqft lot $177/sqft · 306% above area

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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 +13.1/30.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

Key facts

• 4,356 sq ft lot
• Built 1926
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $168k.

Deal economics

• At list price, monthly cash flow is $-6 ($-76/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (25.3% below list).
• Recommended offer: $125k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 43% 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 $1k of loan paydown is wiped out by about $5k 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 89 days — a 6% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $32k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $168k implies a 2333% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,339 (25.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — 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. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 11.2

CMA / ARV

• ARV (median comp): $68,208
• List price: $167,900
• Delta: 146.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.72% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-22,826
• Equity at exit: $25,034

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $831
• Equity at exit: $14,517

Cash invested: $47,012 (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: 11.2×

Monthly cashflow live

• Estimated rent: $1,253 high
• Mortgage (P&I): −$880
• Tax from tax record: −$46 /mo · $553/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-6

Break-even live

Break-even rent $1,261

Max offer price $166,779

Occupancy floor 96%

Sensitivity live

Price	-10% $89	-5% $41	+0% $-6	+5% $-54	+10% $-101
Rent	-10% $-105	-5% $-56	+0% $-6	+5% $43	+10% $93
Rate	-1.0pp $78	-0.5pp $36	base $-6	+0.5pp $-50	+1.0pp $-94

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: $41,975
• Closing costs: $5,037
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	0.45mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	44d	1	0.45mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	0.51mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	0.62mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.65mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	25d	1	0.67mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	0.72mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.86mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.87mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.89mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.91mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.10mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	17d	1	1.22mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.41mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.42mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.42mi

Listing history 11 events

1. 2026-03-07
   price $167,900 367-char remark

   Show marketing remark (367 chars)

   Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

2. 2026-03-06
   price $167,900 367-char remark

   Show marketing remark (367 chars)

   Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

3. 2026-03-06
   price $167,900

   Show marketing remark (367 chars)

   Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

4. 2026-02-28
   listed $199,900 Active 367-char remark

   Show marketing remark (367 chars)

   Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

5. 2026-02-28
   listed $199,900 Active 367-char remark

   Show marketing remark (367 chars)

   Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

6. 2026-02-28
   listed $199,900 Active

   Show marketing remark (367 chars)

   Fully renovated 5-bedroom, 2.5-bath home at 18087 Gable Street. Clean, move-in ready, and updated throughout with modern finishes, fresh paint, new flooring, and renovated kitchen and baths. Functional layout, comfortable bedrooms, and well-maintained inside and out. Ideal for owner-occupants or investors looking for a turnkey property. Schedule your showing today.

7. 2003-03-10
   soldstatus $6,900
8. 2003-03-10
   soldstatus $6,000
9. 2003-02-25
   historical
10. 2003-01-29
    listed $6,900
11. 2003-01-29
    listed $6,900

ⓘ 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: $553 · $46/mo
• Projected year-2 tax: $1,569 · $131/mo
• Expected delta: +$1,016/yr (+$85/mo · 183.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 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: $15,041
• − Mortgage interest: −$9,405
• − Property taxes: −$553
• − Insurance: −$840
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$4,884
• Taxable loss: −$3,048
• Est. tax savings @ 24.0%: +$731
• After-tax cash flow: $655/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

+2333.3% since first listed

11 events — show timeline

• 2026-03-07 Price Changed $167,900 MiRealSource-MiMLS
• 2026-03-06 Price Changed $167,900 REALCOMP
• 2026-03-06 Price Changed $167,900 SW Michigan MLS
• 2026-02-28 Listed $199,900 SW Michigan MLS
• 2026-02-28 Listed $199,900 REALCOMP
• 2026-02-28 Listed $199,900 MiRealSource-MiMLS
• 2003-03-10 Sold (MLS) $6,000 REALCOMP
• 2003-03-10 Sold (MLS) $6,900 MiRealSource-MiMLS
• 2003-02-25 Listing Removed — MiRealSource-MiMLS
• 2003-01-29 Listed $6,900 REALCOMP
• 2003-01-29 Listed $6,900 MiRealSource-MiMLS

Property tax history

+4.5%/yr

Latest (2025): $553 · +2.3% YoY. Source: county tax records.