18096 Joann St · Detroit, MI 48205

$79,900

3 bd · 1.0 ba · 1,162 sqft · SingleFamily public records · 238 Days on market

Built 1926 4,792 sqft lot $69/sqft · 49% above area Est $54k · 49% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1926

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 $507 ($6k/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: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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 (+1.3%/yr); 373 active listings in the ZIP; 40 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 42% 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 $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 + 1.3% 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 238 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $12k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $80k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 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 1926 — 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: 1.69% ✓
• Cap rate: 13.91%
• Cash-on-cash: 27.20%
• DSCR: 2.21
• GRM: 4.9

CMA / ARV

• ARV (median comp): $53,649
• List price: $79,900
• Delta: 48.93%
• 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
18631 Fairport St	0.21mi	3/1.5	1,173 (+1%)	6mo	$9,000	$8	82
18430 Alcoy St	0.09mi	3/1.0	1,064 (-8%)	7mo	$18,000	$17	76
18652 Goulburn St	0.28mi	4/1.0 (+1)	1,200 (+3%)	2mo	$23,000	$19	75
18680 Westphalia St	0.26mi	4/1.0 (+1)	1,247 (+7%)	0mo	$75,000	$60	70
18488 Fairport St	0.13mi	4/2.0 (+1)	1,066 (-8%)	7mo	$83,000	$78	65
12802 Dresden St	0.70mi	3/1.0	1,152 (-1%)	5mo	$25,000	$22	62
19230 Mapleview St	0.61mi	3/2.0	1,160 (-0%)	7mo	$65,000	$56	62
19204 Joann St	0.50mi	3/1.0	1,028 (-12%)	5mo	$44,500	$43	53
18955 Hamburg St	0.52mi	3/1.0	1,043 (-10%)	8mo	$42,000	$40	52
13830 Eastwood St	0.48mi	3/1.5	1,300 (+12%)	6mo	$68,000	$52	51
11821 Greiner St	0.68mi	4/1.5 (+1)	1,198 (+3%)	7mo	$26,000	$22	50
19353 Strasburg St	0.75mi	2/1.0 (-1)	1,103 (-5%)	7mo	$68,000	$62	46

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 1.77×
• Total profit: $17,139
• Equity at exit: $11,913

10-year hold

• IRR: 26.4%
• Equity multiple: 3.13×
• Total profit: $47,755
• 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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,349 high
• Mortgage (P&I): −$419
• Tax from tax record: −$107 /mo · $1,281/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $507

Break-even live

Break-even rent $708

Max offer price $79,900

Occupancy floor 57%

Sensitivity live

Price	-10% $552	-5% $530	+0% $507	+5% $484	+10% $462
Rent	-10% $400	-5% $454	+0% $507	+5% $560	+10% $614
Rate	-1.0pp $547	-0.5pp $527	base $507	+0.5pp $486	+1.0pp $465

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	0.02mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	0.13mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.18mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	0.18mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.36mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	0.39mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.45mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.47mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	0.47mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.53mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	18d	1	0.53mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	18d	1	0.65mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.70mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.75mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	18d	1	0.77mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.78mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	0.81mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	0.81mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.89mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	0.90mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	0.92mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	2d	1	0.95mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	0.96mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.96mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.98mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.99mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	1.06mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	1.06mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	1.16mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.17mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.19mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.20mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	1.20mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	1.21mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.25mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	1.26mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	1.28mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.29mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	1.33mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	18d	1	1.38mi

Listing history 37 events

1. 2026-06-18
   days on market $79,900 Active 238 DOM
2. 2026-06-17
   days on market $79,900 Active 237 DOM
3. 2026-06-15
   days on market $79,900 Active 235 DOM
4. 2026-06-13
   days on market $79,900 Active 233 DOM
5. 2026-06-13
   days on market $79,900 Active 232 DOM
6. 2026-06-09
   days on market $79,900 Active 229 DOM
7. 2026-06-08
   days on market $79,900 Active 228 DOM
8. 2026-06-07
   days on market $79,900 Active 227 DOM
9. 2026-06-04
   days on market $79,900 Active 224 DOM
10. 2026-06-03
    days on market $79,900 Active 223 DOM
11. 2026-06-01
    days on market $79,900 Active 221 DOM
12. 2026-05-31
    days on market $79,900 Active 220 DOM
13. 2026-03-28
    price $79,900 477-char remark

    Show marketing remark (477 chars)

    Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

14. 2026-03-27
    price $79,900 477-char remark

    Show marketing remark (477 chars)

    Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

15. 2025-11-05
    price $89,000 477-char remark

    Show marketing remark (477 chars)

    Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

16. 2025-11-04
    price $89,000 477-char remark

    Show marketing remark (477 chars)

    Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

17. 2025-10-23
    listed $92,000 Active 477-char remark

    Show marketing remark (477 chars)

    Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

18. 2025-10-23
    listed $92,000 Active 477-char remark

    Show marketing remark (477 chars)

    Explore this remarkable residence, an excellent opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. This charming home is move-in ready and requires just a bit of tender loving care to truly shine. It represents an ideal starter home for someone ready to make their mark. We invite you to present us with an offer we simply cannot refuse. For additional information, please feel free to contact Jermaine, who will be happy to assist you.

19. 2022-12-16
    soldstatus $25,000 Sold
20. 2022-12-16
    soldstatus $25,000 Closed
21. 2022-12-15
    status Pending
22. 2022-12-15
    status Pending
23. 2022-12-08
    historical Accepting Backup Offers
24. 2022-12-08
    historical Accepting Backup Offers
25. 2022-12-03
    price $35,000
26. 2022-12-02
    price $35,000
27. 2022-09-24
    listed $41,900 Active
28. 2022-09-24
    historical
29. 2022-09-24
    listed $41,900 Active
30. 2022-09-24
    historical
31. 2022-09-20
    price $41,900
32. 2022-08-05
    historical
33. 2022-08-05
    listed $44,000 Active
34. 2022-08-05
    historical
35. 2022-08-05
    listed $41,900
36. 2022-02-05
    listed $44,900 Active
37. 2022-02-05
    listed $44,900 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: $1,281 · $107/mo
• Projected year-2 tax: $1,281 · $107/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 ≥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: $16,193
• − Mortgage interest: −$4,476
• − Property taxes: −$1,281
• − Insurance: −$400
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$2,324
• Taxable income: $5,122
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $4,855/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+78.0% since first listed

25 events — show timeline

• 2026-03-28 Price Changed $79,900 MiRealSource-MiMLS
• 2026-03-27 Price Changed $79,900 REALCOMP
• 2025-11-05 Price Changed $89,000 MiRealSource-MiMLS
• 2025-11-04 Price Changed $89,000 REALCOMP
• 2025-10-23 Listed $92,000 REALCOMP
• 2025-10-23 Listed $92,000 MiRealSource-MiMLS
• 2022-12-16 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2022-12-16 Sold (MLS) $25,000 REALCOMP
• 2022-12-15 Pending — MiRealSource-MiMLS
• 2022-12-15 Pending — REALCOMP
• 2022-12-08 Contingent — MiRealSource-MiMLS
• 2022-12-08 Contingent — REALCOMP
• 2022-12-03 Price Changed $35,000 MiRealSource-MiMLS
• 2022-12-02 Price Changed $35,000 REALCOMP
• 2022-09-24 Listing Removed — REALCOMP
• 2022-09-24 Listed $41,900 MiRealSource-MiMLS
• 2022-09-24 Listing Removed — MiRealSource-MiMLS
• 2022-09-24 Listed $41,900 REALCOMP
• 2022-09-20 Price Changed $41,900 MiRealSource-MiMLS
• 2022-08-05 Listing Removed — REALCOMP
• 2022-08-05 Listed $41,900 REALCOMP
• 2022-08-05 Listing Removed — MiRealSource-MiMLS
• 2022-08-05 Listed $44,000 MiRealSource-MiMLS
• 2022-02-05 Listed $44,900 MiRealSource-MiMLS
• 2022-02-05 Listed $44,900 REALCOMP

Property tax history

-5.0%/yr

Latest (2025): $1,281 · -37.2% YoY. Source: county tax records.