18699 Forrer St · Detroit, MI 48235

$99,000

3 bd · 1.0 ba · 772 sqft · SingleFamily public records · 414 Days on market

Built 1947 6,534 sqft lot $128/sqft · 53% above area ↓ 13% since listing

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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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

Key facts

• 6,534 sq ft lot
• Garage
• Built 1947

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/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: $87k (12.0% 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: 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); 283 active listings in the ZIP; 32 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).
• This rent runs 42% 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 414 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $99k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 414 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 1947 — 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: 1.39% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.93%
• DSCR: 1.62
• GRM: 6.0

CMA / ARV

• ARV (median comp): $64,506
• List price: $99,000
• Delta: 53.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18950 Biltmore St	0.44mi	2/1.0 (-1)	781 (+1%)	1mo	$46,000	$59	72
18410 Forrer St	0.21mi	3/1.0	689 (-11%)	2mo	$60,000	$87	71
19470 Forrer St	0.47mi	2/1.0 (-1)	771 (-0%)	6mo	$27,000	$35	68
19512 Prevost St	0.52mi	3/1.0	769 (-0%)	12mo	$48,000	$62	65
18518 Prevost St	0.12mi	2/1.0 (-1)	844 (+9%)	11mo	$125,000	$148	65
17227 Curtis St	0.63mi	3/1.0	717 (-7%)	2mo	$77,000	$107	57
18262 Gilchrist St	0.55mi	2/1.0 (-1)	728 (-6%)	8mo	$55,000	$76	53
19510 Ferguson St	0.63mi	2/1.0 (-1)	717 (-7%)	3mo	$21,000	$29	51
19913 Prevost St	0.68mi	2/1.0 (-1)	716 (-7%)	4mo	$27,900	$39	48
18247 Harlow St	0.75mi	2/1.0 (-1)	728 (-6%)	10mo	$90,000	$124	43
19318 Harlow St	0.72mi	3/1.0	853 (+10%)	9mo	$62,500	$73	41
19510 Gilchrist St	0.71mi	2/1.0 (-1)	696 (-10%)	13mo	$32,000	$46	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.18×
• Total profit: $4,864
• Equity at exit: $14,761

10-year hold

• IRR: 14.3%
• Equity multiple: 2.17×
• Total profit: $32,334
• 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: 283
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$519
• Tax from tax record: −$204 /mo · $2,453/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $322

Break-even live

Break-even rent $968

Max offer price $99,000

Occupancy floor 72%

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 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	0.23mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	4d	1	0.23mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	0.25mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	16d	1	0.31mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.47mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	16d	1	0.50mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	0.65mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	12d	1	0.76mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	1d	1	0.77mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	0.88mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	1.00mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	24d	1	1.03mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	4d	1	1.06mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	14d	1	1.06mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	14d	5	1.10mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	43d	1	1.13mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.14mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	4d	1	1.14mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	16d	1	1.17mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	1.18mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	43d	1	1.18mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	4d	1	1.28mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	43d	1	1.30mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	1.32mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	1.36mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	24d	1	1.37mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	16d	1	1.42mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	12d	1	1.44mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	43d	1	1.44mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	43d	1	1.44mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	1.46mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	4d	1	1.49mi

Listing history 37 events

1. 2026-06-18
   days on market $99,000 Active 414 DOM
2. 2026-06-17
   days on market $99,000 Active 413 DOM
3. 2026-06-15
   days on market $99,000 Active 411 DOM
4. 2026-06-13
   days on market $99,000 Active 409 DOM
5. 2026-06-13
   days on market $99,000 Active 408 DOM
6. 2026-06-09
   days on market $99,000 Active 405 DOM
7. 2026-06-08
   days on market $99,000 Active 404 DOM
8. 2026-06-07
   days on market $99,000 Active 403 DOM
9. 2026-06-04
   days on market $99,000 Active 400 DOM
10. 2026-06-03
    days on market $99,000 Active 399 DOM
11. 2026-06-01
    days on market $99,000 Active 397 DOM
12. 2026-05-31
    days on market $99,000 Active 396 DOM
13. 2025-07-29
    price $99,000 180-char remark

    Show marketing remark (181 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

14. 2025-07-29
    price $99,000 181-char remark

    Show marketing remark (181 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

15. 2025-05-06
    price $105,000 180-char remark

    Show marketing remark (180 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

16. 2025-05-05
    price $105,000 181-char remark

    Show marketing remark (181 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

17. 2025-04-30
    listed $95,000 Active 181-char remark

    Show marketing remark (180 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

18. 2025-04-30
    listed $95,000 Active 180-char remark

    Show marketing remark (180 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

19. 2025-04-29
    historical $95,000 180-char remark

    Show marketing remark (180 chars)

    Investor special , very well maintained houses with tenants occupied. Buy it as itself or as a bundle with these listings : 7661 Penrod, 16559 Mansfield, 9553 Auburn, 18651 Warwick

20. 2022-05-25
    soldstatus $45,000
21. 2022-05-13
    soldstatus $45,000 Sold
22. 2022-05-13
    soldstatus $45,000 Closed
23. 2022-04-27
    status Pending
24. 2022-04-27
    status Pending
25. 2022-04-22
    listed $45,000 Active
26. 2022-04-22
    listed $45,000 Active
27. 2022-01-19
    historical
28. 2022-01-19
    historical
29. 2022-01-08
    listed $80,000 Active
30. 2022-01-08
    listed $80,000 Active
31. 2021-07-27
    historical
32. 2021-07-27
    historical
33. 2021-07-08
    listed $80,000 Active
34. 2021-07-08
    listed $80,000 Active
35. 2007-08-14
    soldstatus $35,000
36. 2007-05-20
    listed $35,000
37. 2006-05-24
    soldstatus $114,000

ⓘ 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: $2,453 · $204/mo
• Projected year-2 tax: $2,453 · $204/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $16,504
• − Mortgage interest: −$5,546
• − Property taxes: −$2,453
• − Insurance: −$495
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$2,880
• Taxable income: $2,490
• Est. tax owed @ 24.0%: −$598
• After-tax cash flow: $3,263/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

-13.2% since first listed

25 events — show timeline

• 2025-07-29 Price Changed $99,000 MiRealSource-MiMLS
• 2025-07-29 Price Changed $99,000 REALCOMP
• 2025-05-06 Price Changed $105,000 MiRealSource-MiMLS
• 2025-05-05 Price Changed $105,000 REALCOMP
• 2025-04-30 Listed $95,000 REALCOMP
• 2025-04-30 Listed $95,000 MiRealSource-MiMLS
• 2025-04-29 Coming Soon $95,000 MiRealSource-MiMLS
• 2022-05-25 Sold (Public Records) $45,000 Public Records
• 2022-05-13 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2022-05-13 Sold (MLS) $45,000 REALCOMP
• 2022-04-27 Pending — MiRealSource-MiMLS
• 2022-04-27 Pending — REALCOMP
• 2022-04-22 Listed $45,000 MiRealSource-MiMLS
• 2022-04-22 Listed $45,000 REALCOMP
• 2022-01-19 Listing Removed — REALCOMP
• 2022-01-19 Listing Removed — MiRealSource-MiMLS
• 2022-01-08 Listed $80,000 MiRealSource-MiMLS
• 2022-01-08 Listed $80,000 REALCOMP
• 2021-07-27 Listing Removed — REALCOMP
• 2021-07-27 Listing Removed — MiRealSource-MiMLS
• 2021-07-08 Listed $80,000 MiRealSource-MiMLS
• 2021-07-08 Listed $80,000 REALCOMP
• 2007-08-14 Sold (MLS) $35,000 REALCOMP
• 2007-05-20 Listed $35,000 REALCOMP
• 2006-05-24 Sold (Public Records) $114,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,453 · -10.4% YoY. Source: county tax records.