18468 Winthrop St · Detroit, MI 48235

$115,000

3 bd · 1.0 ba · 870 sqft · SingleFamily public records · 129 Days on market

Built 1942 7,405 sqft lot $132/sqft · 103% above area

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Why this score? — see what drove the C 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

WEST DETROIT BUNGALOW EXCELLENT LOCATION This west Detroit bungalow is ready for a new owner. Features 3 bedrooms, 1 bathroom, with a basement and 2 car garage. The kitchen includes an island with plenty of cabinet space. Located in a desirable area close to hospitals, colleges, and parks. Features include spacious basement; the property has been well kept with a recently updated interior. Buyer Agent to Verify All Information. Schedule your private showing today.

Key facts

• Kitchen island
• Spacious basement
• 7,405 sq ft lot

Tags

• KITCHEN ISLAND
• PLENTY OF CABINET SPACE
• SPACIOUS BASEMENT
• RECENTLY UPDATED INTERIOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (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; 27 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 41% 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 $795 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 129 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $3k; list at $115k implies a 3333% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1942 — 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: 1.18% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $61,016
• List price: $115,000
• Delta: 88.48%
• 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
18518 Prevost St	0.15mi	2/1.0 (-1)	844 (-3%)	11mo	$125,000	$148	74
18435 Robson St	0.36mi	3/1.0	925 (+6%)	0mo	$86,000	$93	72
19142 Murray Hill St	0.51mi	3/1.0	907 (+4%)	8mo	$87,000	$96	63
19132 Gilchrist St	0.69mi	3/1.0	916 (+5%)	8mo	$85,000	$93	53
17552 Ferguson St	0.61mi	3/1.0	957 (+10%)	5mo	$43,000	$45	51
18968 Asbury Park	0.50mi	2/1.0 (-1)	941 (+8%)	10mo	$71,000	$75	50
18937 Lindsay St	0.71mi	3/1.0	951 (+9%)	2mo	$59,000	$62	50
18950 Biltmore St	0.58mi	2/1.0 (-1)	781 (-10%)	1mo	$46,000	$59	50
19400 Asbury Park	0.71mi	3/1.0	909 (+4%)	12mo	$70,000	$77	50
19348 Montrose St	0.51mi	3/1.5	990 (+14%)	5mo	$145,900	$147	47
17355 Saint Marys St	0.61mi	3/1.0	1,000 (+15%)	5mo	$55,000	$55	43
19470 Forrer St	0.64mi	2/1.0 (-1)	771 (-11%)	6mo	$27,000	$35	41

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-789
• Equity at exit: $17,147

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $23,317
• Equity at exit: $9,943

Cash invested: $32,200 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $275

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 75%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	5d	1	0.06mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	0.11mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	0.21mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	16d	1	0.28mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.63mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	0.64mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	16d	1	0.66mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	0.70mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	12d	1	0.93mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	0.97mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.00mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	24d	1	1.08mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	1.17mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	24d	1	1.20mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	15d	1	1.23mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	5d	1	1.23mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	15d	5	1.24mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	5d	1	1.26mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	43d	1	1.31mi
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	5d	1	1.31mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	16d	1	1.34mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	1.34mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	43d	1	1.35mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	1.41mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	43d	1	1.45mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	1.46mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $115,000 Active 129 DOM
2. 2026-06-17
   days on market $115,000 Active 128 DOM
3. 2026-06-15
   days on market $115,000 Active 126 DOM
4. 2026-06-13
   days on market $115,000 Active 124 DOM
5. 2026-06-13
   days on market $115,000 Active 123 DOM
6. 2026-06-09
   days on market $115,000 Active 120 DOM
7. 2026-06-08
   days on market $115,000 Active 119 DOM
8. 2026-06-07
   days on market $115,000 Active 118 DOM
9. 2026-06-04
   days on market $115,000 Active 115 DOM
10. 2026-06-03
    days on market $115,000 Active 114 DOM
11. 2026-06-01
    days on market $115,000 Active 112 DOM
12. 2026-05-31
    days on market $115,000 Active 111 DOM
13. 2026-04-16
    price $115,000 468-char remark

    Show marketing remark (468 chars)

    WEST DETROIT BUNGALOW EXCELLENT LOCATION This west Detroit bungalow is ready for a new owner. Features 3 bedrooms, 1 bathroom, with a basement and 2 car garage. The kitchen includes an island with plenty of cabinet space. Located in a desirable area close to hospitals, colleges, and parks. Features include spacious basement; the property has been well kept with a recently updated interior. Buyer Agent to Verify All Information. Schedule your private showing today.

14. 2026-04-15
    price $115,000 468-char remark

    Show marketing remark (468 chars)

    WEST DETROIT BUNGALOW EXCELLENT LOCATION This west Detroit bungalow is ready for a new owner. Features 3 bedrooms, 1 bathroom, with a basement and 2 car garage. The kitchen includes an island with plenty of cabinet space. Located in a desirable area close to hospitals, colleges, and parks. Features include spacious basement; the property has been well kept with a recently updated interior. Buyer Agent to Verify All Information. Schedule your private showing today.

15. 2026-02-09
    listed $120,000 Active 468-char remark

    Show marketing remark (468 chars)

    WEST DETROIT BUNGALOW EXCELLENT LOCATION This west Detroit bungalow is ready for a new owner. Features 3 bedrooms, 1 bathroom, with a basement and 2 car garage. The kitchen includes an island with plenty of cabinet space. Located in a desirable area close to hospitals, colleges, and parks. Features include spacious basement; the property has been well kept with a recently updated interior. Buyer Agent to Verify All Information. Schedule your private showing today.

16. 2026-02-09
    listed $120,000 Active 468-char remark

    Show marketing remark (468 chars)

    WEST DETROIT BUNGALOW EXCELLENT LOCATION This west Detroit bungalow is ready for a new owner. Features 3 bedrooms, 1 bathroom, with a basement and 2 car garage. The kitchen includes an island with plenty of cabinet space. Located in a desirable area close to hospitals, colleges, and parks. Features include spacious basement; the property has been well kept with a recently updated interior. Buyer Agent to Verify All Information. Schedule your private showing today.

17. 2012-03-23
    soldstatus $3,350
18. 2012-03-23
    soldstatus $3,350
19. 2012-03-10
    historical
20. 2012-03-10
    historical
21. 2012-02-28
    listed $2,250
22. 2012-02-28
    listed $2,250

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $16,242
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$3,345
• Taxable income: $1,556
• Est. tax owed @ 24.0%: −$373
• After-tax cash flow: $2,921/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

+5011.1% since first listed

10 events — show timeline

• 2026-04-16 Price Changed $115,000 MiRealSource-MiMLS
• 2026-04-15 Price Changed $115,000 REALCOMP
• 2026-02-09 Listed $120,000 REALCOMP
• 2026-02-09 Listed $120,000 MiRealSource-MiMLS
• 2012-03-23 Sold (MLS) $3,350 REALCOMP
• 2012-03-23 Sold (MLS) $3,350 MiRealSource-MiMLS
• 2012-03-10 Listing Removed — REALCOMP
• 2012-03-10 Listing Removed — MiRealSource-MiMLS
• 2012-02-28 Listed $2,250 REALCOMP
• 2012-02-28 Listed $2,250 MiRealSource-MiMLS

Property tax history

-19.3%/yr

Latest (2025): $130 · -50.2% YoY. Source: county tax records.