17366 Monica St · Detroit, MI 48221

$144,900

4 bd · 2.0 ba · 2,023 sqft · SingleFamily public records · 15 Days on market

Built 1937 4,356 sqft lot Est $206k · 30% under

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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 +18.9/30.0
• ARV discount +15.0/15.0
• 1% rule +7.3/10.0
• DSCR +5.9/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful brick colonial is the home you're looking for! Here's your chance to get into the very sought after Bagley neighborhood without having to pay the current prices! This move-in ready property leaves plenty of room to add your own equity and build it into your dream home. Natural hardwood floors throughout, mid-century charm, a huge basement for entertaining and so, so much more can be found here.

Key facts

• Huge basement
• 4,356 sq ft lot
• Built 1937

Tags

• NATURAL HARDWOOD FLOORS
• HUGE BASEMENT

Property features AI

Finance

• Financial info: Annual tax: $2,929

Exterior

• Parking: No garage
• Utilities: Sewer available; Water available
• Home design: Single family residence; Two stories; Ground-level entry
• Construction: Brick construction; Brick/mortar foundation; Built area above grade: 2,023 square feet
• Exterior features: Paved road access; Lot approximately 0.1 acre (38 x 111)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Radiant heating; No central air
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 (+3.4%/yr); 349 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% of the median local income ($58k/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 $4k 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 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 22y 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 $14k; list at $145k implies a 935% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,726 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $206,346
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17202 Warrington Dr	0.23mi	3/3.0 (-1)	2,071 (+2%)	1mo	$195,000	$94	75
18287 Santa Rosa Dr	0.40mi	3/2.0 (-1)	2,142 (+6%)	1mo	$200,000	$93	65
17540 Indiana St	0.73mi	4/2.0	2,020 (-0%)	2mo	$155,000	$77	64
17584 Cherrylawn St	0.58mi	3/1.5 (-1)	2,021 (-0%)	4mo	$281,000	$139	63
18084 Birchcrest Dr	0.46mi	4/2.5	2,157 (+7%)	3mo	$220,000	$102	63
16864 Santa Rosa Dr	0.30mi	4/1.5	1,764 (-13%)	1mo	$170,000	$96	62
17585 Wisconsin St	0.71mi	4/2.0	1,944 (-4%)	3mo	$290,000	$149	58
17175 Greenlawn St	0.40mi	3/1.5 (-1)	1,841 (-9%)	3mo	$212,000	$115	57
18655 Monica St	0.61mi	3/1.5 (-1)	1,933 (-4%)	0mo	$120,000	$62	57
8549 Marygrove Dr	0.74mi	3/1.5 (-1)	1,993 (-2%)	1mo	$224,000	$112	55
18661 San Juan Dr	0.64mi	4/2.5	1,882 (-7%)	4mo	$236,000	$125	54
18468 Pennington Dr	0.53mi	3/1.5 (-1)	2,201 (+9%)	4mo	$222,500	$101	50

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-13,100
• Equity at exit: $21,605

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $4,753
• Equity at exit: $12,528

Cash invested: $40,572 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,789 high
• Mortgage (P&I): −$760
• Tax from tax record: −$446 /mo · $5,349/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $147

Break-even live

Break-even rent $1,603

Max offer price $144,900

Occupancy floor 87%

Sensitivity live

Price	-10% $230	-5% $189	+0% $147	+5% $106	+10% $65
Rent	-10% $6	-5% $77	+0% $147	+5% $218	+10% $289
Rate	-1.0pp $220	-0.5pp $184	base $147	+0.5pp $110	+1.0pp $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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.43mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	0.81mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	4d	1	0.95mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	0.96mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	18d	1	0.98mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	1.06mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.11mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	44d	1	1.32mi

Listing history 11 events

1. 2026-06-18
   days on market $144,900 Active 15 DOM
2. 2026-06-17
   days on market $144,900 Active 14 DOM
3. 2026-06-16
   days on market $144,900 Active 13 DOM
4. 2026-06-15
   days on market $144,900 Active 12 DOM
5. 2026-06-13
   days on market $144,900 Active 10 DOM
6. 2026-06-13
   days on market $144,900 Active 9 DOM
7. 2026-06-09
   days on market $144,900 Active 6 DOM
8. 2026-06-08
   days on market $144,900 Active 5 DOM
9. 2026-06-07
   days on market $144,900 Active 4 DOM
10. 2026-06-04
    remarks 412-char remark
11. 2026-06-04
    listed $144,900 Active 1 DOM

ⓘ 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: $5,349 · $446/mo
• Projected year-2 tax: $5,349 · $446/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 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,471
• − Mortgage interest: −$8,117
• − Property taxes: −$5,349
• − Insurance: −$724
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$4,215
• Taxable loss: −$370
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $1,859/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+5.0% since first listed

26 events — show timeline

• 2026-06-01 Listed $144,900 REALCOMP
• 2026-06-01 Listed $144,900 MiRealSource-MiMLS
• 2025-08-22 Listing Removed — MiRealSource-MiMLS
• 2025-07-29 Price Changed $129,900 MiRealSource-MiMLS
• 2025-07-28 Price Changed $129,900 REALCOMP
• 2025-06-27 Price Changed $139,000 MiRealSource-MiMLS
• 2025-06-26 Price Changed $139,000 REALCOMP
• 2025-04-21 Price Changed $149,000 MiRealSource-MiMLS
• 2025-04-21 Relisted — MiRealSource-MiMLS
• 2025-04-21 Relisted — REALCOMP
• 2025-04-21 Price Changed $149,000 REALCOMP
• 2025-01-22 Listing Removed — REALCOMP
• 2025-01-22 Listing Removed — MiRealSource-MiMLS
• 2024-11-15 Listed $159,000 REALCOMP
• 2024-11-15 Listed $159,000 MiRealSource-MiMLS
• 2009-06-22 Sold (MLS) $14,000 REALCOMP
• 2009-04-03 Listed $13,000 REALCOMP
• 2009-04-02 Listing Removed — REALCOMP
• 2009-01-30 Listed $2,200 REALCOMP
• 2009-01-30 Listing Removed — REALCOMP
• 2009-01-30 Listed $13,000 REALCOMP
• 2005-03-02 Sold (Public Records) $121,100 Public Records
• 2004-12-03 Sold (MLS) $121,100 REALCOMP
• 2004-07-20 Listing Removed — REALCOMP
• 2004-07-19 Listed $138,000 REALCOMP
• 2004-06-01 Listed $138,000 REALCOMP

Property tax history

+7.2%/yr

Latest (2025): $5,349 · +36.8% YoY. Source: county tax records.