19324 Buffalo St · Detroit, MI 48234

$52,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 192 Days on market

Built 1948 4,792 sqft lot $54/sqft · 19% above area Est $50k · at est. ↓ 35% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.9/15.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

Key facts

• Plumbing
• Wood floors
• Electric

Tags

• NEW ROOF
• PLUMBING
• ELECTRIC
• WOOD FLOORS
• UPDATED KITCHEN
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $46k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 10.2% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 44% 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 $360 of loan paydown is wiped out by about $2k 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 + 6.7% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 18y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $52k implies a 1200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1948 — 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: 2.48% ✓
• Cap rate: 21.56%
• Cash-on-cash: 54.51%
• DSCR: 3.43
• GRM: 3.4

CMA / ARV

• ARV (median comp): $50,254
• List price: $52,000
• Delta: 3.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19608 Buffalo St	0.15mi	3/1.0	1,014 (+6%)	1mo	$68,000	$67	82
19235 Lamont St	0.37mi	2/1.0 (-1)	960 (0%)	1mo	$40,000	$42	77
19437 Conley St	0.29mi	3/1.0	912 (-5%)	4mo	$28,500	$31	75
19451 Conley St	0.29mi	3/1.0	900 (-6%)	3mo	$54,000	$60	74
20059 Bloom St	0.49mi	3/1.0	911 (-5%)	4mo	$90,000	$99	65
19392 Justine St	0.56mi	3/1.0	1,000 (+4%)	3mo	$45,000	$45	64
19416 Lamont St	0.36mi	3/1.5	1,065 (+11%)	1mo	$9,000	$8	62
3191 E Outer Dr	0.33mi	3/1.5	1,072 (+12%)	6mo	$79,500	$74	58
19672 Justine St	0.59mi	3/1.0	1,050 (+9%)	2mo	$47,500	$45	55
19725 Lamont St	0.46mi	3/1.0	835 (-13%)	4mo	$10,000	$12	54
19322 Shields St	0.60mi	3/1.0	1,050 (+9%)	6mo	$43,000	$41	51
18485 Moenart St	0.51mi	3/1.0	834 (-13%)	4mo	$58,500	$70	51

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 56.9%
• Equity multiple: 3.66×
• Total profit: $38,724
• Equity at exit: $7,753

10-year hold

• IRR: 63.2%
• Equity multiple: 8.57×
• Total profit: $110,225
• Equity at exit: $4,496

Cash invested: $14,560 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,290 high
• Mortgage (P&I): −$273
• Tax from tax record: −$63 /mo · $760/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $661

Break-even live

Break-even rent $453

Max offer price $52,000

Occupancy floor 44%

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.05mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	0.15mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	0.23mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	44d	1	0.23mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	0.25mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.26mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	0.28mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.33mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	17d	1	0.65mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.74mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.91mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	44d	1	0.95mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.98mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.99mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.01mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.03mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.13mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	24d	1	1.16mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.17mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	44d	1	1.21mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.31mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	44d	1	1.42mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	11d	1	1.46mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	24d	1	1.47mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	1.48mi

Listing history 50 events

1. 2026-06-18
   days on market $52,000 Active 192 DOM
2. 2026-06-17
   days on market $52,000 Active 191 DOM
3. 2026-06-15
   days on market $52,000 Active 189 DOM
4. 2026-06-13
   days on market $52,000 Active 187 DOM
5. 2026-06-13
   days on market $52,000 Active 186 DOM
6. 2026-06-09
   days on market $52,000 Active 183 DOM
7. 2026-06-08
   days on market $52,000 Active 182 DOM
8. 2026-06-07
   days on market $52,000 Active 181 DOM
9. 2026-06-04
   days on market $52,000 Active 178 DOM
10. 2026-06-03
    days on market $52,000 Active 177 DOM
11. 2026-06-01
    days on market $52,000 Active 175 DOM
12. 2026-05-31
    days on market $52,000 Active 174 DOM
13. 2026-05-07
    price $52,000 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

14. 2026-05-07
    price $52,000 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

15. 2026-02-18
    status Active 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

16. 2026-02-18
    status Active 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

17. 2026-01-15
    status Pending 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

18. 2026-01-15
    status Pending 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

19. 2025-11-04
    listed $57,000 Active 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

20. 2025-11-04
    listed $57,000 Active 242-char remark

    Show marketing remark (242 chars)

    Investor Special. 3/1 in the Farwell Neighborhood of Detroit's east side. Fully Rehabbed in 2019 with new roof, plumbing and electric. Home features wood floors, updated kitchen and bathroom. Buyer to pay $495 processing fee to listing broker

21. 2024-04-03
    historical $1,200
22. 2024-03-28
    listed $1,200
23. 2018-09-26
    historical
24. 2018-09-26
    historical
25. 2018-06-22
    status Active
26. 2018-06-20
    status Active
27. 2018-06-14
    status Pending
28. 2018-06-14
    status Pending
29. 2018-04-12
    price $8,000
30. 2018-04-12
    price $8,000
31. 2018-04-03
    historical
32. 2018-04-03
    price $10,000
33. 2018-04-02
    listed $8,000 Active
34. 2018-04-02
    listed $12,000 Active
35. 2018-04-02
    listed $12,000 Active
36. 2018-04-02
    historical
37. 2018-04-02
    listed $10,000 Active
38. 2018-04-02
    historical
39. 2018-04-02
    price $10,000
40. 2018-04-02
    historical
41. 2017-09-30
    listed $10,000 Active
42. 2017-09-30
    listed $10,000 Active
43. 2016-04-09
    historical
44. 2016-04-09
    historical
45. 2016-02-14
    status Active
46. 2016-02-09
    historical
47. 2016-01-06
    price $2,500
48. 2015-11-08
    status Active
49. 2015-11-04
    historical
50. 2015-04-26
    listed $3,900 Active

ⓘ 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: $760 · $63/mo
• Projected year-2 tax: $780 · $65/mo
• Expected delta: +$20/yr (+$2/mo · 2.7%)

ⓘ 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: $15,479
• − Mortgage interest: −$2,913
• − Property taxes: −$760
• − Insurance: −$260
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$1,513
• Taxable income: $7,557
• Est. tax owed @ 24.0%: −$1,814
• After-tax cash flow: $6,123/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

-35.0% since first listed

47 events — show timeline

• 2026-05-07 Price Changed $52,000 MiRealSource-MiMLS
• 2026-05-07 Price Changed $52,000 REALCOMP
• 2026-02-18 Relisted — MiRealSource-MiMLS
• 2026-02-18 Relisted — REALCOMP
• 2026-01-15 Pending — MiRealSource-MiMLS
• 2026-01-15 Pending — REALCOMP
• 2025-11-04 Listed $57,000 REALCOMP
• 2025-11-04 Listed $57,000 MiRealSource-MiMLS
• 2024-04-03 Rental Removed $1,200 BUILDIUM
• 2024-03-28 Listed for Rent $1,200 BUILDIUM
• 2018-09-26 Listing Removed — REALCOMP
• 2018-09-26 Listing Removed — MiRealSource-MiMLS
• 2018-06-22 Relisted — MiRealSource-MiMLS
• 2018-06-20 Relisted — REALCOMP
• 2018-06-14 Pending — MiRealSource-MiMLS
• 2018-06-14 Pending — REALCOMP
• 2018-04-12 Price Changed $8,000 MiRealSource-MiMLS
• 2018-04-12 Price Changed $8,000 REALCOMP
• 2018-04-03 Listing Removed — REALCOMP
• 2018-04-03 Price Changed $10,000 REALCOMP
• 2018-04-02 Price Changed $10,000 MiRealSource-MiMLS
• 2018-04-02 Listing Removed — MiRealSource-MiMLS
• 2018-04-02 Listed $10,000 MiRealSource-MiMLS
• 2018-04-02 Listing Removed — MiRealSource-MiMLS
• 2018-04-02 Listed $12,000 MiRealSource-MiMLS
• 2018-04-02 Listed $12,000 REALCOMP
• 2018-04-02 Listed $8,000 REALCOMP
• 2018-04-02 Listing Removed — REALCOMP
• 2017-09-30 Listed $10,000 MiRealSource-MiMLS
• 2017-09-30 Listed $10,000 REALCOMP
• 2016-04-09 Listing Removed — MiRealSource-MiMLS
• 2016-04-09 Listing Removed — REALCOMP
• 2016-02-14 Relisted — REALCOMP
• 2016-02-09 Listing Removed — REALCOMP
• 2016-01-06 Price Changed $2,500 REALCOMP
• 2015-11-08 Relisted — REALCOMP
• 2015-11-04 Listing Removed — REALCOMP
• 2015-04-26 Listed $3,900 REALCOMP
• 2015-04-08 Listed $2,500 MiRealSource-MiMLS
• 2008-04-28 Sold (MLS) $4,000 REALCOMP
• 2008-04-28 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2008-03-17 Listing Removed — MiRealSource-MiMLS
• 2008-03-11 Listed $4,000 REALCOMP
• 2008-03-08 Listing Removed — REALCOMP
• 2008-02-28 Listed $4,000 REALCOMP
• 2008-02-28 Listed $4,000 MiRealSource-MiMLS
• 2006-11-06 Sold (Public Records) $80,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $760 · -36.1% YoY. Source: county tax records.