18666 Carrie St · Detroit, MI 48234

$139,900

4 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 65 Days on market

Built 1924 4,356 sqft lot $111/sqft · 89% above area

---

Why this score? — see what drove the D+ 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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• 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

Welcome to your new home in Detroit! You'll love this one way street with its convenient location! This home has been updated top to bottom! New roof, new siding, windows, all new flooring all new bathrooms, kitchens all professional works. and ! This home is a two family with sperate entrance for upstairs with a full two kitchen and two full bathroom This home is a must see Move in & Ready

Key facts

• New siding
• New flooring
• Two kitchen

Tags

• NEW ROOF
• NEW SIDING
• NEW FLOORING
• TWO KITCHEN
• TWO FULL BATHROOM
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $1,403/mo this rent would consume 48% of the median local household income ($35k/yr) (locally 2372% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 9y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1924 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 8.3

CMA / ARV

• ARV (median comp): $74,130
• List price: $139,900
• Delta: 88.72%
• 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
18665 Helen St	0.08mi	3/2.0 (-1)	1,248 (-1%)	9mo	$98,000	$79	78
18811 Rogge St	0.08mi	3/1.5 (-1)	1,343 (+7%)	10mo	$125,000	$93	70
8135 E Hildale St	0.44mi	3/1.0 (-1)	1,221 (-3%)	10mo	$72,000	$59	61
19487 Spencer St	0.54mi	3/1.0 (-1)	1,285 (+2%)	7mo	$53,000	$41	60
19466 Packard St	0.51mi	3/1.0 (-1)	1,179 (-6%)	6mo	$62,000	$53	56
6732 Varjo St	0.42mi	3/1.0 (-1)	1,168 (-7%)	9mo	$73,500	$63	56
8175 House St	0.55mi	3/1.0 (-1)	1,160 (-8%)	1mo	$100,000	$86	55
8078 Rolyat St	0.68mi	3/1.0 (-1)	1,317 (+4%)	2mo	$40,000	$30	54
19363 Packard St	0.41mi	3/1.5 (-1)	1,368 (+9%)	8mo	$60,000	$44	53
19610 Cliff St	0.54mi	3/1.0 (-1)	1,183 (-6%)	8mo	$45,000	$38	52
19178 Sherwood St	0.32mi	3/2.5 (-1)	1,381 (+10%)	8mo	$149,000	$108	52
4001 E Outer Dr	0.73mi	3/2.0 (-1)	1,400 (+11%)	2mo	$105,000	$75	37

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-7,151
• Equity at exit: $20,860

10-year hold

• IRR: 8.8%
• Equity multiple: 1.79×
• Total profit: $30,907
• Equity at exit: $12,096

Cash invested: $39,172 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,403 high
• Mortgage (P&I): −$734
• Tax from tax record: −$159 /mo · $1,903/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $158

Break-even live

Break-even rent $1,203

Max offer price $139,900

Occupancy floor 84%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.28mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	0.82mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	43d	1	0.85mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	0.98mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	21d	1	0.98mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.02mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	1d	1	1.05mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	16d	1	1.06mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	1d	1	1.10mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	43d	1	1.17mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	16d	1	1.31mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	4d	1	1.31mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.34mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.36mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	1.45mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $139,900 Active 65 DOM
2. 2026-06-17
   days on market $139,900 Active 64 DOM
3. 2026-06-15
   days on market $139,900 Active 62 DOM
4. 2026-06-13
   days on market $139,900 Active 60 DOM
5. 2026-06-13
   days on market $139,900 Active 59 DOM
6. 2026-06-09
   days on market $139,900 Active 56 DOM
7. 2026-06-08
   days on market $139,900 Active 55 DOM
8. 2026-06-07
   days on market $139,900 Active 54 DOM
9. 2026-06-04
   days on market $139,900 Active 51 DOM
10. 2026-06-03
    days on market $139,900 Active 50 DOM
11. 2026-06-02
    days on market $139,900 Active 49 DOM
12. 2026-06-01
    days on market $139,900 Active 48 DOM
13. 2026-05-31
    days on market $139,900 Active 47 DOM
14. 2026-04-13
    listed $149,900 Active 400-char remark

    Show marketing remark (399 chars)

    Welcome to your new home in Detroit! You'll love this one way street with its convenient location! This home has been updated top to bottom! New roof, new siding, windows, all new flooring all new bathrooms, kitchens all professional works. and ! This home is a two family with sperate entrance for upstairs with a full two kitchen and two full bathroom This home is a must see Move in & Ready

15. 2026-04-13
    listed $149,900 Active 399-char remark

    Show marketing remark (399 chars)

    Welcome to your new home in Detroit! You'll love this one way street with its convenient location! This home has been updated top to bottom! New roof, new siding, windows, all new flooring all new bathrooms, kitchens all professional works. and ! This home is a two family with sperate entrance for upstairs with a full two kitchen and two full bathroom This home is a must see Move in & Ready

16. 2026-01-26
    soldstatus $65,000
17. 2026-01-22
    soldstatus $65,000 Closed
18. 2026-01-22
    soldstatus $65,000 Closed
19. 2026-01-19
    status Pending
20. 2026-01-19
    status Pending
21. 2026-01-06
    price $69,900
22. 2026-01-05
    price $69,900
23. 2025-11-17
    status Active
24. 2025-11-17
    status Active
25. 2025-11-11
    status Pending
26. 2025-11-11
    status Pending
27. 2025-11-11
    price $75,000
28. 2025-11-11
    status Active
29. 2025-11-11
    status Active
30. 2025-11-11
    price $75,000
31. 2025-07-11
    status Pending
32. 2025-07-11
    status Pending
33. 2025-05-26
    listed $69,900 Active
34. 2025-05-26
    listed $69,900 Active
35. 2019-01-31
    soldstatus $6,000 Sold
36. 2019-01-31
    soldstatus $6,000 Closed
37. 2019-01-27
    status Pending
38. 2019-01-27
    status Pending
39. 2018-10-17
    price $8,500
40. 2018-10-16
    price $8,500
41. 2018-08-21
    price $9,500
42. 2018-08-20
    price $9,500
43. 2018-03-29
    listed $15,800 Active
44. 2018-03-29
    listed $15,800 Active
45. 2018-03-19
    historical
46. 2018-03-19
    historical
47. 2018-02-20
    price $15,800
48. 2018-02-19
    price $15,800
49. 2017-12-18
    listed $17,000 Active
50. 2017-12-18
    listed $17,000 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: $1,903 · $159/mo
• Projected year-2 tax: $2,029 · $169/mo
• Expected delta: +$126/yr (+$10/mo · 6.6%)

ⓘ 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: $16,837
• − Mortgage interest: −$7,837
• − Property taxes: −$1,903
• − Insurance: −$700
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − Depreciation: −$4,070
• Taxable loss: −$365
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $1,983/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

+502.0% since first listed

38 events — show timeline

• 2026-04-13 Listed $149,900 MiRealSource-MiMLS
• 2026-04-13 Listed $149,900 REALCOMP
• 2026-01-26 Sold (Public Records) $65,000 Public Records
• 2026-01-22 Sold (MLS) $65,000 REALCOMP
• 2026-01-22 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2026-01-19 Pending — MiRealSource-MiMLS
• 2026-01-19 Pending — REALCOMP
• 2026-01-06 Price Changed $69,900 MiRealSource-MiMLS
• 2026-01-05 Price Changed $69,900 REALCOMP
• 2025-11-17 Relisted — MiRealSource-MiMLS
• 2025-11-17 Relisted — REALCOMP
• 2025-11-11 Pending — MiRealSource-MiMLS
• 2025-11-11 Pending — REALCOMP
• 2025-11-11 Price Changed $75,000 MiRealSource-MiMLS
• 2025-11-11 Relisted — MiRealSource-MiMLS
• 2025-11-11 Relisted — REALCOMP
• 2025-11-11 Price Changed $75,000 REALCOMP
• 2025-07-11 Pending — MiRealSource-MiMLS
• 2025-07-11 Pending — REALCOMP
• 2025-05-26 Listed $69,900 REALCOMP
• 2025-05-26 Listed $69,900 MiRealSource-MiMLS
• 2019-01-31 Sold (MLS) $6,000 MiRealSource-MiMLS
• 2019-01-31 Sold (MLS) $6,000 REALCOMP
• 2019-01-27 Pending — MiRealSource-MiMLS
• 2019-01-27 Pending — REALCOMP
• 2018-10-17 Price Changed $8,500 MiRealSource-MiMLS
• 2018-10-16 Price Changed $8,500 REALCOMP
• 2018-08-21 Price Changed $9,500 MiRealSource-MiMLS
• 2018-08-20 Price Changed $9,500 REALCOMP
• 2018-03-29 Listed $15,800 MiRealSource-MiMLS
• 2018-03-29 Listed $15,800 REALCOMP
• 2018-03-19 Listing Removed — MiRealSource-MiMLS
• 2018-03-19 Listing Removed — REALCOMP
• 2018-02-20 Price Changed $15,800 MiRealSource-MiMLS
• 2018-02-19 Price Changed $15,800 REALCOMP
• 2017-12-18 Listed $17,000 MiRealSource-MiMLS
• 2017-12-18 Listed $17,000 REALCOMP
• 1993-02-24 Sold (Public Records) $24,900 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,903 · -48.1% YoY. Source: county tax records.