19169 Algonac St · Detroit, MI 48234

$79,900

3 bd · 1.0 ba · 892 sqft · SingleFamily public records · 112 Days on market

Built 1940 3,920 sqft lot $90/sqft · 65% above area

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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 +7.5/15.0
• 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

Turnkey Investment Opportunity! Fully renovated 3-bedroom, 1-bath home on Algonac Street updated in 2025 and currently tenant-occupied with a Section 8 tenant paying $1,133/month. New mechanicals provide added peace of mind and reduced maintenance concerns for investors. Located in a well-established Detroit neighborhood known for pride of ownership and generational homes. Low-maintenance property with immediate cash flow—ideal for investors seeking stable income. Photos prior to tenants occupancy.

Key facts

• Fully renovated
• Immediate cash flow
• New mechanicals

Tags

• FULLY RENOVATED
• NEW MECHANICALS
• WELL-ESTABLISHED NEIGHBORHOOD
• LOW-MAINTENANCE PROPERTY
• IMMEDIATE CASH FLOW

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $552 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $80k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
9. 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.
10. 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: 1.61% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.96%
• DSCR: 1.93
• GRM: 5.2

CMA / ARV

• ARV (median comp): $48,391
• List price: $79,900
• Delta: 65.11%
• 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
19140 Algonac St	0.04mi	2/1.0 (-1)	892 (0%)	1mo	$46,000	$52	93
19361 Beland St	0.15mi	3/1.0	901 (+1%)	2mo	$47,500	$53	90
19422 Algonac St. St	0.19mi	3/1.5	942 (+6%)	8mo	$65,000	$69	73
18696 Blackmoor St	0.26mi	3/1.0	1,010 (+13%)	0mo	$77,500	$77	66
18709 Runyon St	0.26mi	3/1.0	1,000 (+12%)	7mo	$62,000	$62	62
19145 Strasburg St	0.59mi	3/1.5	931 (+4%)	7mo	$90,000	$97	58
19161 Hamburg St	0.65mi	3/1.0	960 (+8%)	2mo	$116,000	$121	55
8212 E Lantz St	0.54mi	3/1.0	989 (+11%)	2mo	$60,000	$61	55
18982 Hamburg St	0.69mi	3/1.0	952 (+7%)	3mo	$45,000	$47	54
19735 Annott St	0.54mi	3/1.0	780 (-13%)	4mo	$69,500	$89	50
17892 Runyon St	0.63mi	3/1.5	995 (+12%)	2mo	$56,000	$56	48
17694 Teppert St	0.72mi	3/1.0	1,013 (+14%)	6mo	$120,000	$118	39

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: 17.9%
• Equity multiple: 1.76×
• Total profit: $16,995
• Equity at exit: $11,913

10-year hold

• IRR: 29.0%
• Equity multiple: 4.09×
• Total profit: $69,211
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$419
• Tax from tax record: −$172 /mo · $2,065/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $391

Break-even live

Break-even rent $790

Max offer price $79,900

Occupancy floor 65%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.28mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.28mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	0.58mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.73mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.78mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.84mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.90mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.95mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.96mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	0.97mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	1.01mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	1.01mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.03mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	1.04mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	1.09mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	1.10mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.10mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.12mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.14mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	1.17mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	1.18mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.24mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	1.27mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	24d	1	1.35mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.35mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.36mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	1.39mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	1.40mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.41mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.45mi

Listing history 28 events

1. 2026-06-18
   days on market $79,900 Active 112 DOM
2. 2026-06-17
   days on market $79,900 Active 111 DOM
3. 2026-06-15
   days on market $79,900 Active 109 DOM
4. 2026-06-13
   days on market $79,900 Active 107 DOM
5. 2026-06-13
   days on market $79,900 Active 106 DOM
6. 2026-06-09
   days on market $79,900 Active 103 DOM
7. 2026-06-08
   days on market $79,900 Active 102 DOM
8. 2026-06-07
   days on market $79,900 Active 101 DOM
9. 2026-06-04
   days on market $79,900 Active 98 DOM
10. 2026-06-03
    days on market $79,900 Active 97 DOM
11. 2026-06-01
    days on market $79,900 Active 95 DOM
12. 2026-05-31
    days on market $79,900 Active 94 DOM
13. 2026-03-31
    price $79,900 509-char remark

    Show marketing remark (509 chars)

    Turnkey Investment Opportunity! Fully renovated 3-bedroom, 1-bath home on Algonac Street updated in 2025 and currently tenant-occupied with a Section 8 tenant paying $1,133/month. New mechanicals provide added peace of mind and reduced maintenance concerns for investors. Located in a well-established Detroit neighborhood known for pride of ownership and generational homes. Low-maintenance property with immediate cash flow—ideal for investors seeking stable income. Photos prior to tenants occupancy.

14. 2026-03-03
    price $79,900 505-char remark

    Show marketing remark (505 chars)

    Turnkey Investment Opportunity! Fully renovated 3-bedroom, 1-bath home on Algonac Street updated in 2025 and currently tenant-occupied with a Section 8 tenant paying $1,133/month. New mechanicals provide added peace of mind and reduced maintenance concerns for investors. Located in a well-established Detroit neighborhood known for pride of ownership and generational homes. Low-maintenance property with immediate cash flow - ideal for investors seeking stable income. Photos prior to tenants occupancy.

15. 2026-02-26
    listed $89,900 Active 509-char remark

    Show marketing remark (505 chars)

    Turnkey Investment Opportunity! Fully renovated 3-bedroom, 1-bath home on Algonac Street updated in 2025 and currently tenant-occupied with a Section 8 tenant paying $1,133/month. New mechanicals provide added peace of mind and reduced maintenance concerns for investors. Located in a well-established Detroit neighborhood known for pride of ownership and generational homes. Low-maintenance property with immediate cash flow - ideal for investors seeking stable income. Photos prior to tenants occupancy.

16. 2026-02-26
    listed $89,900 Active 505-char remark

    Show marketing remark (505 chars)

    Turnkey Investment Opportunity! Fully renovated 3-bedroom, 1-bath home on Algonac Street updated in 2025 and currently tenant-occupied with a Section 8 tenant paying $1,133/month. New mechanicals provide added peace of mind and reduced maintenance concerns for investors. Located in a well-established Detroit neighborhood known for pride of ownership and generational homes. Low-maintenance property with immediate cash flow - ideal for investors seeking stable income. Photos prior to tenants occupancy.

17. 2025-05-06
    historical
18. 2025-05-06
    historical
19. 2025-04-29
    listed $85,000 Active
20. 2025-04-29
    listed $85,000 Active
21. 2023-10-17
    soldstatus $36,000 Sold
22. 2023-10-17
    soldstatus $36,000 Closed
23. 2023-09-06
    status Pending
24. 2023-09-06
    status Pending
25. 2023-07-28
    price $40,000
26. 2023-07-27
    price $40,000
27. 2023-03-20
    listed $45,000 Active
28. 2023-03-20
    listed $45,000 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: $2,065 · $172/mo
• Projected year-2 tax: $2,065 · $172/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $15,420
• − Mortgage interest: −$4,476
• − Property taxes: −$2,065
• − Insurance: −$400
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$2,324
• Taxable income: $3,688
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $3,804/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

+77.6% since first listed

16 events — show timeline

• 2026-03-31 Price Changed $79,900 REALCOMP
• 2026-03-03 Price Changed $79,900 MiRealSource-MiMLS
• 2026-02-26 Listed $89,900 MiRealSource-MiMLS
• 2026-02-26 Listed $89,900 REALCOMP
• 2025-05-06 Listing Removed — REALCOMP
• 2025-05-06 Listing Removed — MiRealSource-MiMLS
• 2025-04-29 Listed $85,000 REALCOMP
• 2025-04-29 Listed $85,000 MiRealSource-MiMLS
• 2023-10-17 Sold (MLS) $36,000 MiRealSource-MiMLS
• 2023-10-17 Sold (MLS) $36,000 REALCOMP
• 2023-09-06 Pending — MiRealSource-MiMLS
• 2023-09-06 Pending — REALCOMP
• 2023-07-28 Price Changed $40,000 MiRealSource-MiMLS
• 2023-07-27 Price Changed $40,000 REALCOMP
• 2023-03-20 Listed $45,000 MiRealSource-MiMLS
• 2023-03-20 Listed $45,000 REALCOMP

Property tax history

+2.1%/yr

Latest (2025): $2,065 · -2.9% YoY. Source: county tax records.