17674 Salem St · Detroit, MI 48219 3003

$63,000

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 4 Days on market

Built 1925 Good condition 8,712 sqft lot $87/sqft · 39% below area Est $102k · 39% under

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0

Listing remarks MLS

INVESTOR SPECIAL, . Welcome to this charming, maintenance-free ranch, ideally located just two blocks away from Redford Township. This lovely home features two cozy bedrooms, a brand-new kitchen and bathroom, and stunning new luxury vinyl flooring throughout. Enjoy the inviting front and back decks in a nice, quiet block. The home is a true gem, offering a comfortable, hassle-free lifestyle. Please note that buyers are to verify all listing details, and the buyer's agent must be present for all showings.

Key facts

• Brand-new kitchen
• 8,712 sq ft lot
• Built 1925

Tags

• MAINTENANCE-FREE RANCH
• BRAND-NEW KITCHEN
• NEW LUXURY VINYL FLOORING
• INVITING FRONT AND BACK DECKS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $63k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($896 rent vs $63k).

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: 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.
• Zoned schools: Emerson Elementarymiddle School (519 students, 90% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($436 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.53%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (median comp): $102,480
• List price: $63,000
• Delta: -37.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18404 Dalby St	0.35mi	2/1.0	719 (-1%)	3mo	$162,500	$226	79
18274 Woodbine St	0.39mi	2/1.0	702 (-4%)	8mo	$50,000	$71	69
18266 Dalby	0.31mi	2/1.0	768 (+6%)	14mo	$120,000	$156	65
17241 Beech Daly Rd	0.67mi	2/1.0	708 (-3%)	0mo	$75,000	$106	64
18680 Five Points St	0.43mi	2/1.5	837 (+15%)	2mo	$95,000	$114	51
17171 Beech Daly	0.70mi	2/1.0	708 (-3%)	22mo	$125,000	$177	45
16618 Salem St	0.64mi	2/1.0	833 (+14%)	6mo	$47,500	$57	41
18831 Sumner	0.65mi	2/1.0	810 (+11%)	15mo	$110,500	$136	38
17606 Norborne	0.71mi	3/2.0 (+1)	818 (+12%)	2mo	$157,500	$193	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.41×
• Total profit: $24,951
• Equity at exit: $28,328

10-year hold

• IRR: 25.7%
• Equity multiple: 4.66×
• Total profit: $64,539
• Equity at exit: $43,656

Cash invested: $17,640 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 9 under contract
• Months of supply: 10.0 mo (10%/mo absorbed)
• Median asking: $85,000 ($103/sqft)
• Median days on market: 39 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: +36.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48219 3003

• Active inventory: 1
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $896 high
• Mortgage (P&I): −$330
• Tax est. 1.5%: −$79 /mo · $945/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $272

Break-even live

Break-even rent $551

Max offer price $63,000

Occupancy floor 65%

Sensitivity live

Price	-10% $316	-5% $294	+0% $272	+5% $251	+10% $229
Rent	-10% $202	-5% $237	+0% $272	+5% $308	+10% $343
Rate	-1.0pp $304	-0.5pp $288	base $272	+0.5pp $256	+1.0pp $239

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: $15,750
• Closing costs: $1,890
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24651 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	42d	1	0.42mi
24235 W McNichols Rd Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	42d	2	0.50mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	625	$950	$1.52	46d	1	0.68mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	93d	1	0.70mi
19254 Telegraph Rd Unit M5 Detroit, MI	1.0	1.0	700	$820	$1.17	64d	1	0.85mi
24244 Dale St Unit 211 Detroit, MI	1.0	1.0	550	$800	$1.45	73d	1	0.86mi
19264 Telegraph Rd Unit G2 Detroit, MI	1.0	1.0	700	$820	$1.17	93d	1	0.87mi
19260 Telegraph Rd Unit J2 Detroit, MI	1.0	1.0	700	$820	$1.17	93d	1	0.88mi
19255 Shiawassee Dr Apt 105 Detroit, MI	1.0	1.0	680	$950	$1.40	54d	1	0.98mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	93d	2	1.03mi
18045 Lahser Rd Detroit, MI	1.0	1.0	670	$960	$1.43	54d	2	1.35mi
17644 Lahser Rd Unit 7 Detroit, MI	1.0	1.0	600	$995	$1.66	73d	1	1.40mi
18350 Lahser Rd Detroit, MI	1.0	1.0	600	$950	$1.58	93d	1	1.42mi
18450 Lahser Rd Apt 1 Detroit, MI	1.0	1.0	650	$820	$1.26	54d	1	1.42mi
18400 Lahser Rd Detroit, MI	1.0	1.0	620	$950	$1.53	73d	1	1.42mi
16885 Lahser Rd Unit 1A Detroit, MI	1.0	1.0	650	$750	$1.15	54d	1	1.45mi
16885 Lahser Rd Apt 3A Detroit, MI	1.0	1.0	700	$750	$1.07	93d	1	1.45mi
23740 Fenkell Ave Detroit, MI	1.0	1.0	675	$850	$1.26	47d	1	1.46mi
16854 Lahser Rd Detroit, MI	1.0	1.0	680	$885	$1.30	61d	1	1.49mi

Property features AI

Finance

• Other: Pets allowed

Exterior

• Utilities: Public waterNatural gasGas water heaterPublic sewer available
• Home design: One-story residential homeBuilt in 1925
• Construction: Aluminum exteriorCrawlspace foundation
• Exterior features: Paved street accessFrontage of about 50 feetYard/lot setting

Interior

• Kitchen: Kitchen on the entry level (about 14 x 9)Range/OvenRefrigerator
• Bedrooms: Two bedrooms on the entry level (each approximately 12 x 10)
• Bathrooms: One full bathroom on the entry level
• Heating & cooling: Natural gas heating (forced air)Central A/CCeiling fan(s)Gas water heater
• Interior features: 6 total rooms

Listing history 50 events

1. 2026-08-08
   days on market $63,000 Active 4 DOM
2. 2026-08-06
   days on market $63,000 Active 2 DOM
3. 2026-08-04
   days on marketlisting id $63,000 Active 1 DOM

   Show marketing remark (509 chars)

   INVESTOR SPECIAL, . Welcome to this charming, maintenance-free ranch, ideally located just two blocks away from Redford Township. This lovely home features two cozy bedrooms, a brand-new kitchen and bathroom, and stunning new luxury vinyl flooring throughout. Enjoy the inviting front and back decks in a nice, quiet block. The home is a true gem, offering a comfortable, hassle-free lifestyle. Please note that buyers are to verify all listing details, and the buyer's agent must be present for all showings.

4. 2026-07-31
   days on market $63,000 Active 268 DOM
5. 2026-07-30
   days on market $63,000 Active 267 DOM
6. 2026-07-30
   days on market $63,000 Active 266 DOM
7. 2026-07-28
   days on market $63,000 Active 265 DOM
8. 2026-07-26
   days on market $63,000 Active 263 DOM
9. 2026-07-24
   days on market $63,000 Active 261 DOM
10. 2026-07-23
    listing id $63,000 Active 260 DOM
11. 2026-07-23
    days on market $63,000 Active 260 DOM
12. 2026-07-22
    days on market $63,000 Active 259 DOM
13. 2026-07-21
    pricedays on market $63,000 Active 258 DOM
14. 2026-07-20
    days on market $63,700 Active 257 DOM
15. 2026-07-18
    days on market $63,700 Active 255 DOM
16. 2026-07-18
    days on market $63,700 Active 254 DOM
17. 2026-07-16
    days on market $63,700 Active 253 DOM
18. 2026-07-15
    days on market $63,700 Active 252 DOM
19. 2026-07-14
    days on market $63,700 Active 251 DOM
20. 2026-07-13
    days on market $63,700 Active 250 DOM
21. 2026-07-13
    days on market $63,700 Active 249 DOM
22. 2026-07-11
    days on market $63,700 Active 248 DOM
23. 2026-07-10
    days on market $63,700 Active 247 DOM
24. 2026-07-09
    days on market $63,700 Active 246 DOM
25. 2026-07-07
    days on market $63,700 Active 244 DOM
26. 2026-07-06
    days on market $63,700 Active 243 DOM
27. 2026-07-06
    days on market $63,700 Active 242 DOM
28. 2026-07-05
    days on market $63,700 Active 241 DOM
29. 2026-07-03
    days on market $63,700 Active 240 DOM
30. 2026-07-02
    days on market $63,700 Active 239 DOM
31. 2026-07-01
    days on market $63,700 Active 238 DOM
32. 2026-06-30
    days on market $63,700 Active 237 DOM
33. 2026-06-29
    days on market $63,700 Active 236 DOM
34. 2026-06-28
    days on market $63,700 Active 235 DOM
35. 2026-06-27
    days on market $63,700 Active 234 DOM
36. 2026-06-26
    days on market $63,700 Active 233 DOM
37. 2026-06-24
    days on market $63,700 Active 231 DOM
38. 2026-06-22
    days on market $63,700 Active 229 DOM
39. 2026-06-21
    days on market $63,700 Active 228 DOM
40. 2026-06-18
    days on market $63,700 Active 225 DOM
41. 2026-06-17
    days on market $63,700 Active 224 DOM
42. 2026-06-15
    days on market $63,700 Active 222 DOM
43. 2026-06-13
    days on market $63,700 Active 220 DOM
44. 2026-06-13
    days on market $63,700 Active 219 DOM
45. 2026-06-09
    days on market $63,700 Active 216 DOM
46. 2026-06-08
    days on market $63,700 Active 215 DOM
47. 2026-06-07
    days on market $63,700 Active 214 DOM
48. 2026-06-04
    days on market $63,700 Active 211 DOM
49. 2026-06-03
    days on market $63,700 Active 210 DOM
50. 2026-06-01
    days on market $63,700 Active 208 DOM

ⓘ 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: $10,751
• − Mortgage interest: −$3,529
• − Property taxes: −$945
• − Insurance: −$315
• − Repairs & maintenance: −$860
• − Management: −$860
• − Depreciation: −$1,833
• Taxable income: $2,409
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $2,690/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 · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $3,640–$10,920 screening

This charming, well-maintained single-family home is move-in ready with new kitchen and bathroom, fresh paint, and a maintained landscape. It offers a comfortable, hassle-free lifestyle.

Components & finishes AI

Roof asphalt shingle · good Flooring hardwood Counters granite Appliances black HVAC central · new lt5

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping maintenance — Well-maintained landscaping improves curb appeal and adds value to the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 24/100

Zoned Schools

Elementary Emerson Elementarymiddle School High Henry Ford High School F MI #481/713 Nat'l #12,478/17,239

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

B Composite livability gradescore 73/100

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

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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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Finance

• Other: Pets allowed

Exterior

• Utilities: Public waterNatural gasGas water heaterPublic sewer available
• Home design: One-story residential homeBuilt in 1925
• Construction: Aluminum exteriorCrawlspace foundation
• Exterior features: Paved street accessFrontage of about 50 feetYard/lot setting

Interior

• Kitchen: Kitchen on the entry level (about 14 x 9)Range/OvenRefrigerator
• Bedrooms: Two bedrooms on the entry level (each approximately 12 x 10)
• Bathrooms: One full bathroom on the entry level
• Heating & cooling: Natural gas heating (forced air)Central A/CCeiling fan(s)Gas water heater
• Interior features: 6 total rooms

Price history

+320.0% since first listed

52 events — show timeline

• 2026-08-04 Listed $63,000 MiRealSource-MiMLS
• 2026-08-04 Listed $63,000 REALCOMP
• 2026-08-01 Listing Removed — MiRealSource-MiMLS
• 2026-08-01 Listing Removed — REALCOMP
• 2026-07-21 Price Changed $63,000 MiRealSource-MiMLS
• 2026-07-20 Price Changed $63,000 REALCOMP
• 2026-04-14 Price Changed $63,700 MiRealSource-MiMLS
• 2026-04-14 Price Changed $63,700 REALCOMP
• 2025-11-26 Price Changed $68,700 MiRealSource-MiMLS
• 2025-11-26 Price Changed $68,700 REALCOMP
• 2025-11-25 Price Changed $70,000 MiRealSource-MiMLS
• 2025-11-24 Price Changed $70,000 REALCOMP
• 2025-11-19 Price Changed $75,000 MiRealSource-MiMLS
• 2025-11-19 Price Changed $75,000 REALCOMP
• 2025-11-05 Listed $80,000 REALCOMP
• 2025-11-05 Listed $80,000 MiRealSource-MiMLS
• 2022-01-18 Listing Removed — MiRealSource-MiMLS
• 2022-01-18 Listing Removed — REALCOMP
• 2022-01-17 Listing Removed — Greater Lansing AoR
• 2021-09-17 Listed $59,000 MiRealSource-MiMLS
• 2021-09-17 Listed $59,000 REALCOMP
• 2021-09-12 Coming Soon — MiRealSource-MiMLS
• 2021-09-12 Coming Soon — REALCOMP
• 2021-05-06 Listing Removed — REALCOMP
• 2021-05-05 Listing Removed — MiRealSource-MiMLS
• 2021-05-05 Listing Removed — Greater Lansing AoR
• 2021-01-06 Price Changed $49,900 MiRealSource-MiMLS
• 2021-01-06 Price Changed $49,900 REALCOMP
• 2020-12-08 Listed $59,900 MiRealSource-MiMLS
• 2020-12-08 Listed $59,900 REALCOMP
• 2020-12-07 Coming Soon — MiRealSource-MiMLS
• 2020-12-07 Listed $59,900 MiRealSource-MiMLS
• 2020-12-07 Coming Soon — MiRealSource-MiMLS
• 2020-12-07 Coming Soon — REALCOMP
• 2018-11-05 Sold (Public Records) $515,000 Public Records
• 2018-10-29 Sold (MLS) $15,000 Greater Lansing AoR
• 2018-10-29 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2018-10-29 Sold (MLS) $15,000 REALCOMP
• 2018-07-23 Pending — MiRealSource-MiMLS
• 2018-07-23 Pending — REALCOMP
• 2018-07-13 Listed $20,000 Greater Lansing AoR
• 2018-07-13 Listed $20,000 MiRealSource-MiMLS
• 2018-07-13 Listed $20,000 REALCOMP
• 2015-02-18 Sold (MLS) $18,500 MiRealSource-MiMLS
• 2015-02-18 Sold (MLS) $18,500 REALCOMP
• 2015-02-12 Listing Removed — REALCOMP
• 2015-02-12 Listing Removed — MiRealSource-MiMLS
• 2015-01-24 Price Changed $21,500 REALCOMP
• 2015-01-13 Price Changed $22,900 REALCOMP
• 2015-01-08 Listed $24,900 REALCOMP
• 2015-01-08 Listed $21,500 MiRealSource-MiMLS
• 2001-01-26 Sold (Public Records) $15,000 Public Records

Property tax history

+16.4%/yr

Latest (2025): $4,078 · +0.6% YoY. Source: county tax records.