19192 Eureka St · Detroit, MI 48234

$49,000

2 bd · 1.0 ba · 733 sqft · SingleFamily public records · 74 Days on market

Built 1944 4,356 sqft lot $67/sqft · 18% below area Est $59k · 18% under ↓ 16% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Check out this cozy, clean, and move-in ready - this updated ranch on Eureka St. has fresh paint, new flooring, and plenty of natural light. The kitchen"s been nicely redone, the bedrooms are comfy, and the bathroom feels fresh and modern. Pluse fulbasement that includes an unfinish bedroom. you can turn into whatever you need. You've also got a big backyard for hanging out, plus a private driveway, you are in a primme loction too - just steps from Mason Academy and Pershing High School, and quick access to freeways, parks, and local shoping, dining, esay dirive to downtown detroit. Whether you're a first-time buyer, downsizing, or looking for a solid rental property, this home is easy affordable, updated, and ready when you are.

Key facts

• Big backyard
• Private driveway
• Updated ranch

Tags

• UPDATED RANCH
• BIG BACKYARD
• PRIVATE DRIVEWAY
• QUICK ACCESS TO FREEWAYS
• QUICK ACCESS TO PARKS
• QUICK ACCESS TO LOCAL SPOTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.5% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 40% 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 $339 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $16k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — 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: 2.38% ✓
• Cap rate: 20.48%
• Cash-on-cash: 50.67%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (median comp): $59,430
• List price: $49,000
• Delta: -17.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19226 Eureka St	0.04mi	2/1.0	731 (-0%)	20mo	$15,000	$21	81
19255 Binder St	0.36mi	2/1.0	719 (-2%)	3mo	$38,500	$54	78
19200 Shields St	0.11mi	3/1.0 (+1)	742 (+1%)	15mo	$64,500	$87	76
19676 Conley St	0.42mi	2/1.0	720 (-2%)	9mo	$50,000	$69	70
19667 Sunset St	0.37mi	3/1.5 (+1)	752 (+3%)	4mo	$28,500	$38	68
19300 Binder St	0.34mi	2/1.0	820 (+12%)	4mo	$10,000	$12	61
19942 Binder St	0.57mi	3/1.0 (+1)	696 (-5%)	5mo	$70,000	$101	56
19436 Albany St	0.69mi	3/1.0 (+1)	725 (-1%)	6mo	$17,000	$23	56
19725 Lamont St	0.39mi	3/1.0 (+1)	835 (+14%)	4mo	$10,000	$12	51
18640 Wexford St	0.48mi	2/1.0	798 (+9%)	19mo	$36,000	$45	47
18485 Moenart St	0.52mi	3/1.0 (+1)	834 (+14%)	4mo	$58,500	$70	44
19600 Syracuse St	0.66mi	3/1.0 (+1)	797 (+9%)	10mo	$18,500	$23	42

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: 52.7%
• Equity multiple: 3.44×
• Total profit: $33,503
• Equity at exit: $7,306

10-year hold

• IRR: 59.4%
• Equity multiple: 8.06×
• Total profit: $96,823
• Equity at exit: $4,237

Cash invested: $13,720 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$65 /mo · $775/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $579

Break-even live

Break-even rent $433

Max offer price $49,000

Occupancy floor 45%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.33mi
18475 Wexford St Unit 1 Detroit, MI	2.0	1.0	500	$950	$1.90	24d	1	0.59mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.47mi

Listing history 18 events

1. 2026-06-09
   days on market $49,000 Active 74 DOM
2. 2026-06-08
   days on market $49,000 Active 73 DOM
3. 2026-06-07
   days on market $49,000 Active 72 DOM
4. 2026-06-04
   pricedays on market $49,000 Active 69 DOM
5. 2026-06-03
   days on market $59,000 Active 68 DOM
6. 2026-06-02
   days on market $59,000 Active 67 DOM
7. 2026-06-01
   days on market $59,000 Active 66 DOM
8. 2026-05-31
   days on market $59,000 Active 65 DOM
9. 2026-04-29
   price $59,000 746-char remark

   Show marketing remark (746 chars)

   Check out this cozy, clean, and move-in ready - this updated ranch on Eureka St. has fresh paint, new flooring, and plenty of natural light. The kitchen"s been nicely redone, the bedrooms are comfy, and the bathroom feels fresh and modern. Pluse fulbasement that includes an unfinish bedroom. you can turn into whatever you need. You've also got a big backyard for hanging out, plus a private driveway, you are in a primme loction too - just steps from Mason Academy and Pershing High School, and quick access to freeways, parks, and local shoping, dining, esay dirive to downtown detroit. Whether you're a first-time buyer, downsizing, or looking for a solid rental property, this home is easy affordable, updated, and ready when you are.

10. 2026-04-28
    price $59,000 763-char remark

    Show marketing remark (763 chars)

    Check out this cozy, clean, and move-in ready — this updated ranch on Eureka St. has fresh paint, new flooring, and plenty of natural light. The kitchen"s been nicely redone, the bedrooms are comfy, and the bathroom feels fresh and modern. Pluse fulbasement that includes an unfinish bedroom. you can turn into whatever you need. You’ve also got a big backyard for hanging out, plus a private driveway, you are in a primme loction too - just steps from Mason Academy and Pershing High School, and quick access to freeways, parks, and local shoping, dining, esay dirive to downtown detroit. Whether you’re a first-time buyer, downsizing, or looking for a solid rental property, this home is easy affordable, updated, and ready when you are.

11. 2026-03-27
    listed $65,000 Active 746-char remark

    Show marketing remark (763 chars)

    Check out this cozy, clean, and move-in ready — this updated ranch on Eureka St. has fresh paint, new flooring, and plenty of natural light. The kitchen"s been nicely redone, the bedrooms are comfy, and the bathroom feels fresh and modern. Pluse fulbasement that includes an unfinish bedroom. you can turn into whatever you need. You’ve also got a big backyard for hanging out, plus a private driveway, you are in a primme loction too - just steps from Mason Academy and Pershing High School, and quick access to freeways, parks, and local shoping, dining, esay dirive to downtown detroit. Whether you’re a first-time buyer, downsizing, or looking for a solid rental property, this home is easy affordable, updated, and ready when you are.

12. 2026-03-27
    listed $65,000 Active 763-char remark

    Show marketing remark (763 chars)

    Check out this cozy, clean, and move-in ready — this updated ranch on Eureka St. has fresh paint, new flooring, and plenty of natural light. The kitchen"s been nicely redone, the bedrooms are comfy, and the bathroom feels fresh and modern. Pluse fulbasement that includes an unfinish bedroom. you can turn into whatever you need. You’ve also got a big backyard for hanging out, plus a private driveway, you are in a primme loction too - just steps from Mason Academy and Pershing High School, and quick access to freeways, parks, and local shoping, dining, esay dirive to downtown detroit. Whether you’re a first-time buyer, downsizing, or looking for a solid rental property, this home is easy affordable, updated, and ready when you are.

13. 2024-12-14
    historical
14. 2024-12-13
    historical
15. 2024-09-12
    listed $35,000 Active
16. 2024-09-12
    listed $35,000 Active
17. 2006-03-21
    soldstatus $75,000
18. 2005-09-22
    listed $70,000

ⓘ 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: $775 · $65/mo
• Projected year-2 tax: $775 · $65/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: $13,993
• − Mortgage interest: −$2,745
• − Property taxes: −$775
• − Insurance: −$245
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$1,425
• Taxable income: $6,565
• Est. tax owed @ 24.0%: −$1,576
• After-tax cash flow: $5,376/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

-15.7% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $59,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $59,000 REALCOMP
• 2026-03-27 Listed $65,000 REALCOMP
• 2026-03-27 Listed $65,000 MiRealSource-MiMLS
• 2024-12-14 Listing Removed — MiRealSource-MiMLS
• 2024-12-13 Listing Removed — REALCOMP
• 2024-09-12 Listed $35,000 MiRealSource-MiMLS
• 2024-09-12 Listed $35,000 REALCOMP
• 2006-03-21 Sold (MLS) $75,000 REALCOMP
• 2005-09-22 Listed $70,000 REALCOMP

Property tax history

-3.5%/yr

Latest (2025): $775 · -53.4% YoY. Source: county tax records.