18954 Beland St · Detroit, MI 48234

$59,900

2 bd · 1.0 ba · 879 sqft · SingleFamily public records · 85 Days on market

Built 1949 3,920 sqft lot $68/sqft · at area comps Est $62k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.0/15.0
• 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

A diamond in the rough ready for transformation! This generous home presents an incredible opportunity for sharp investors or a hands-on homeowner eager to make it their own. Ideally situated near key highways, top schools, parks, and shopping, it provides seamless access to everything the city has to offer and beyond. Don't miss out - book your private tour today! Purchaser to pay 395 processing fee. As-is sale. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 70,000 PURCHASE PRICE, 22,000 DOWN PAYMENT, 8% INTEREST, 72 MONTH TERM. 929 / MONTH. seller financing/land contract terms are negotiable.

Key facts

• Key highways
• Top schools
• Shopping

Tags

• GENEROUS HOME
• KEY HIGHWAYS
• TOP SCHOOLS
• PARKS
• SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 33 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 41% 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 $414 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 + 6.7% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $48k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 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 1949 — 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: 2.01% ✓
• Cap rate: 16.88%
• Cash-on-cash: 37.82%
• DSCR: 2.68
• GRM: 4.1

CMA / ARV

• ARV (median comp): $61,925
• List price: $59,900
• Delta: -3.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19140 Algonac St	0.12mi	2/1.0	892 (+2%)	1mo	$46,000	$52	91
19361 Beland St	0.27mi	3/1.0 (+1)	901 (+2%)	2mo	$47,500	$53	77
17401 Albion St	0.69mi	2/1.0	865 (-2%)	1mo	$50,000	$58	64
18709 Runyon St	0.12mi	3/1.0 (+1)	1,000 (+14%)	7mo	$62,000	$62	61
18696 Blackmoor St	0.20mi	3/1.0 (+1)	1,010 (+15%)	0mo	$77,500	$77	61
19145 Strasburg St	0.55mi	3/1.5 (+1)	931 (+6%)	7mo	$90,000	$97	52
18982 Hamburg St	0.63mi	3/1.0 (+1)	952 (+8%)	3mo	$45,000	$47	50
19161 Hamburg St	0.62mi	3/1.0 (+1)	960 (+9%)	2mo	$116,000	$121	49
8100 Stockton St	0.73mi	2/1.0	800 (-9%)	3mo	$26,000	$33	48
17892 Runyon St	0.48mi	3/1.5 (+1)	995 (+13%)	2mo	$56,000	$56	48
19735 Annott St	0.61mi	3/1.0 (+1)	780 (-11%)	4mo	$69,500	$89	44
8212 E Lantz St	0.66mi	3/1.0 (+1)	989 (+12%)	2mo	$60,000	$61	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: 38.1%
• Equity multiple: 2.71×
• Total profit: $28,660
• Equity at exit: $8,931

10-year hold

• IRR: 46.4%
• Equity multiple: 6.31×
• Total profit: $89,111
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,204 high
• Mortgage (P&I): −$314
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $529

Break-even live

Break-even rent $534

Max offer price $59,900

Occupancy floor 51%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	17d	1	0.13mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.33mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.33mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	0.43mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.65mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.71mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.71mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.91mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.92mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.94mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.94mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	1.00mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.02mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.04mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.07mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	1.13mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.14mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	1.18mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.20mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	18d	1	1.27mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.27mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.29mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	1.31mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	1.33mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.33mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.38mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	1.38mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	1.43mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.43mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.45mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	1.48mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.49mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	24d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $59,900 Active 85 DOM
2. 2026-06-17
   days on market $59,900 Active 84 DOM
3. 2026-06-15
   days on market $59,900 Active 82 DOM
4. 2026-06-13
   days on market $59,900 Active 80 DOM
5. 2026-06-13
   days on market $59,900 Active 79 DOM
6. 2026-06-09
   days on market $59,900 Active 76 DOM
7. 2026-06-08
   days on market $59,900 Active 75 DOM
8. 2026-06-07
   days on market $59,900 Active 74 DOM
9. 2026-06-04
   days on market $59,900 Active 71 DOM
10. 2026-06-03
    days on market $59,900 Active 70 DOM
11. 2026-06-02
    days on market $59,900 Active 69 DOM
12. 2026-06-01
    days on market $59,900 Active 68 DOM
13. 2026-05-31
    days on market $59,900 Active 67 DOM
14. 2026-03-25
    listed $59,900 Active 606-char remark

    Show marketing remark (617 chars)

    A diamond in the rough ready for transformation! This generous home presents an incredible opportunity for sharp investors or a hands-on homeowner eager to make it their own. Ideally situated near key highways, top schools, parks, and shopping, it provides seamless access to everything the city has to offer and beyond. Don’t miss out—book your private tour today! Purchaser to pay 395 processing fee. As-is sale. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 70,000 PURCHASE PRICE, 22,000 DOWN PAYMENT, 8% INTEREST, 72 MONTH TERM. 929 / MONTH. seller financing/land contract terms are negotiable.

15. 2026-03-25
    listed $59,900 Active 617-char remark

    Show marketing remark (617 chars)

    A diamond in the rough ready for transformation! This generous home presents an incredible opportunity for sharp investors or a hands-on homeowner eager to make it their own. Ideally situated near key highways, top schools, parks, and shopping, it provides seamless access to everything the city has to offer and beyond. Don’t miss out—book your private tour today! Purchaser to pay 395 processing fee. As-is sale. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 70,000 PURCHASE PRICE, 22,000 DOWN PAYMENT, 8% INTEREST, 72 MONTH TERM. 929 / MONTH. seller financing/land contract terms are negotiable.

16. 2025-06-01
    historical
17. 2025-06-01
    historical
18. 2025-04-22
    status Active
19. 2025-04-21
    historical
20. 2025-03-05
    listed $64,900 Active
21. 2025-03-05
    listed $64,900 Active
22. 1999-05-11
    soldstatus $48,000

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $998 · $83/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 3/10 Moderate FEMA zone X (unshaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $14,444
• − Mortgage interest: −$3,355
• − Property taxes: −$998
• − Insurance: −$300
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$1,743
• Taxable income: $5,738
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $4,967/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

+24.8% since first listed

9 events — show timeline

• 2026-03-25 Listed $59,900 REALCOMP
• 2026-03-25 Listed $59,900 MiRealSource-MiMLS
• 2025-06-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-01 Listing Removed — REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-03-05 Listed $64,900 REALCOMP
• 2025-03-05 Listed $64,900 MiRealSource-MiMLS
• 1999-05-11 Sold (Public Records) $48,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $998 · -8.2% YoY. Source: county tax records.