19160 Winston St #213 · Detroit, MI 48219

$23,500

2 bd · 1.0 ba · 800 sqft · Condo · 1 Days on market

Built 1967 Good condition $380/mo HOA ↓ 33% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 Bdrm Coop unit. Spacious rooms with walk in closet in master. Ceiling fans and 2 wall a/c units. Storage unit in basement and coin-operated laundry area. Fenced and gated parking. This Coop is owner-occupied only. The unit cannot be rented out. Applicant must be approved by Board. Application fee is $50 for credit and background check. There is also a $350 transfer fee and $295 compliance fee.

Key facts

• Ceiling fans
• Walk in closet
• Storage unit

Tags

• WALK IN CLOSET
• CEILING FANS
• STORAGE UNIT
• FENCED PARKING
• GATED PARKING

Property features AI

Finance

• Other: Directions: W on Seven Mile, right on Winston Street
• HOA & community: Homeowners association with a $380 monthly fee; HOA fee covers gas, insurance, grounds and structure maintenance, pest control, sewer, snow removal, trash and water

Exterior

• Parking: Assigned parking in a parking lot; no garage
• Utilities: Public water; Sewer available
• Home design: Condominium (residential); Two levels; Upper-level entry with steps
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Pets not allowed

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating with natural gas; No central cooling
• Interior features: Has an unfinished basement

🏢 Co-op / cooperative unit. The $23,500 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $24k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Cap rate 22.5% 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 (+8.0%/yr); 305 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $162 of loan paydown is wiped out by about $705 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 + 8.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $23,500

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.63% ✓
• Cap rate: 22.53%
• Cash-on-cash: 57.99%
• DSCR: 3.58
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 66.6%
• Equity multiple: 4.41×
• Total profit: $22,448
• Equity at exit: $3,504

10-year hold

• IRR: 73.5%
• Equity multiple: 12.07×
• Total profit: $72,834
• Equity at exit: $2,032

Cash invested: $6,580 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 305
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,089 high
• Mortgage (P&I): −$123
• Tax est. 1.5%: −$29 /mo · $352/yr
• Insurance: −$10
• HOA: −$380
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $318

Break-even live

Break-even rent $687

Max offer price $23,500

Occupancy floor 66%

Sensitivity live

Price	-10% $334	-5% $326	+0% $318	+5% $310	+10% $302
Rent	-10% $232	-5% $275	+0% $318	+5% $361	+10% $404
Rate	-1.0pp $330	-0.5pp $324	base $318	+0.5pp $312	+1.0pp $306

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	44d	3	0.21mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	13d	1	0.24mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	0.31mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	0.31mi
19264 Telegraph Rd Unit G2 Detroit, MI	1.0	1.0	700	$820	$1.17	44d	1	0.31mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	44d	1	0.31mi
19254 Telegraph Rd Unit M5 Detroit, MI	1.0	1.0	700	$820	$1.17	15d	1	0.31mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	25d	1	0.31mi
19260 Telegraph Rd Unit J2 Detroit, MI	1.0	1.0	700	$820	$1.17	44d	1	0.34mi
19255 Shiawassee Dr Apt 105 Detroit, MI	1.0	1.0	680	$950	$1.40	5d	1	0.49mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	44d	1	0.50mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	44d	2	0.52mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	44d	1	0.53mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	5d	1	0.65mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	11d	1	0.65mi
20410 Five Points St Redford, MI	3.0	1.0	950	$1,600	$1.68	5d	1	0.71mi
19800 Berg Rd Detroit, MI	3.0	1.0	1000	$1,550	$1.55	17d	1	0.87mi
22649 Frisbee St Detroit, MI	3.0	1.0	1100	$1,495	$1.36	44d	1	0.88mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	44d	1	0.89mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	25d	1	0.90mi
23411 W Eight Mile Rd Detroit, MI	1.0–2.0	1.0	742	$1,000	$1.35	44d	1	0.98mi
25304 Shiawassee Cir #105 Southfield, MI	1.0	1.0	700	$1,050	$1.50	44d	1	1.03mi
25010 W 8 Mile Rd Southfield, MI	1.0	1.0	820	$1,112	$1.36	0d	3	1.04mi
25340 Shiawassee Cir Unit 208 Southfield, MI	1.0	1.0	575	$1,050	$1.83	18d	1	1.09mi
24651 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	44d	4	1.11mi
24235 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	44d	4	1.11mi
25400 Basin St Bldg 9 Southfield, MI	1.0	1.0	750	$1,175	$1.57	44d	1	1.17mi
25400 Basin St Southfield, MI	1.0–2.0	1.0	825	$1,400	$1.70	0d	12	1.17mi
22238 Pembroke Ave Detroit, MI	3.0	1.5	1100	$1,500	$1.36	44d	1	1.17mi
25740 Shiawassee St Southfield, MI	1.0–2.0	1.0	850	$1,253	$1.47	44d	10	1.17mi
26539 Clarita Redford, MI	3.0	1.5	931	$1,875	$2.01	25d	1	1.22mi
19928 Houghton St Detroit, MI	3.0	1.0	880	$1,495	$1.70	11d	1	1.24mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	18d	1	1.25mi
16800 Telegraph Rd Detroit, MI	2.0	1.0	775	$875	$1.13	44d	1	1.28mi
25822 W 6 Mile Rd Redford Township, MI	2.0	2.0	1100	$1,100	$1.00	25d	1	1.29mi
18450 Lahser Rd Apt 1 Detroit, MI	1.0	1.0	650	$820	$1.26	5d	1	1.34mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	44d	1	1.34mi
18400 Lahser Rd Detroit, MI	1.0	1.0	620	$950	$1.53	25d	1	1.36mi
18350 Lahser Rd Detroit, MI	1.0	1.0	600	$950	$1.58	44d	1	1.37mi
18045 Lahser Rd Detroit, MI	1.0	1.0	670	$960	$1.43	5d	2	1.39mi

HOA detail condo

• Monthly dues: $380 · $4,560/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-19
   pricedays on marketlisting id $23,500 Active 1 DOM
2. 2026-05-31
   days on market $27,000 Active 196 DOM
3. 2026-02-19
   price $27,000 410-char remark
4. 2026-02-19
   price $27,000 410-char remark
5. 2026-02-05
   status Active 410-char remark
6. 2026-02-05
   status Active 410-char remark
7. 2026-01-26
   status Pending 410-char remark
8. 2026-01-26
   status Pending 410-char remark
9. 2026-01-08
   price $27,499 410-char remark
10. 2026-01-08
    price $27,499 410-char remark
11. 2025-12-18
    price $27,500 410-char remark
12. 2025-12-18
    price $27,500 410-char remark
13. 2025-11-21
    price $30,000 410-char remark
14. 2025-11-20
    price $30,000 410-char remark
15. 2025-11-06
    listed $35,000 Active 410-char remark
16. 2025-11-06
    listed $35,000 Active 410-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,069
• − Mortgage interest: −$1,316
• − Property taxes: −$352
• − Insurance: −$118
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − HOA: −$4,560
• − Depreciation: −$684
• Taxable income: $3,948
• Est. tax owed @ 24.0%: −$947
• After-tax cash flow: $2,868/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.

Condition & rehab AI · 11 photos

Good 75/100 Cosmetic rehab

This 2-bedroom condo is in good condition with minimal repairs needed. Upgrades to the exterior and interior can significantly increase its value for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Replacing carpet with hardwood or tile flooring — Improves durability and adds value for both resale and rental.
• Both Upgrading kitchen appliances — Modernizes the space and attracts more buyers/renters.
• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Replacing carpet with hardwood or tile flooring — Improves durability and adds value for both resale and rental. ↑
• Both Upgrading kitchen appliances — Modernizes the space and attracts more buyers/renters. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

-32.9% since first listed

18 events — show timeline

• 2026-06-13 Listed $23,500 REALCOMP
• 2026-06-13 Listed $23,500 MiRealSource-MiMLS
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-02-19 Price Changed $27,000 MiRealSource-MiMLS
• 2026-02-19 Price Changed $27,000 REALCOMP
• 2026-02-05 Relisted — MiRealSource-MiMLS
• 2026-02-05 Relisted — REALCOMP
• 2026-01-26 Pending — MiRealSource-MiMLS
• 2026-01-26 Pending — REALCOMP
• 2026-01-26 Listing Removed — REALCOMP
• 2026-01-08 Price Changed $27,499 MiRealSource-MiMLS
• 2026-01-08 Price Changed $27,499 REALCOMP
• 2025-12-18 Price Changed $27,500 MiRealSource-MiMLS
• 2025-12-18 Price Changed $27,500 REALCOMP
• 2025-11-21 Price Changed $30,000 MiRealSource-MiMLS
• 2025-11-20 Price Changed $30,000 REALCOMP
• 2025-11-06 Listed $35,000 REALCOMP
• 2025-11-06 Listed $35,000 MiRealSource-MiMLS