18282 Freeland St · Detroit, MI 48235

$139,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 11 Days on market

Built 1947 5,227 sqft lot $135/sqft · 53% above area Est $164k · 14% under

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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 +16.9/30.0
• ARV discount +14.0/15.0
• DSCR +5.2/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey and fully updated, this move-in-ready home is a must-see! Featuring modern updates throughout, this property offers a bright and inviting interior with stylish finishes and a functional floor plan. Step outside to enjoy the spacious back deck, perfect for relaxing or entertaining guests. Conveniently located near shopping, dining, schools, and major freeways, this home is ideal for first-time buyers, downsizers, or investors seeking a low-maintenance property. Nothing to do but move in and enjoy - schedule your showing today!

Key facts

• Spacious back deck
• Modern updates
• Conveniently located

Tags

• SPACIOUS BACK DECK
• MODERN UPDATES
• BRIGHT INVITING INTERIOR
• FUNCTIONAL FLOOR PLAN
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps
• Construction: Aluminum siding and brick exterior; Block foundation
• Exterior features: Paved road access; Lot approximately 0.12 acres (40 x 129)

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 7.1% vs local median 10.1% 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 (+3.2%/yr); 290 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 43% 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 $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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 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 $72k; list at $140k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1947 — 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: 1.01% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.12
• GRM: 8.2

CMA / ARV

• ARV (median comp): $163,522
• List price: $139,900
• Delta: -8.33%
• 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
18235 Tracey St	0.22mi	3/2.0	1,055 (+1%)	4mo	$67,000	$64	80
18476 Mark Twain St	0.13mi	3/1.0	1,089 (+5%)	8mo	$71,000	$65	80
18058 Tracey St	0.29mi	3/1.0	1,090 (+5%)	9mo	$120,000	$110	71
18034 Tracey St	0.30mi	4/1.0 (+1)	1,116 (+7%)	2mo	$118,600	$106	67
18045 Coyle St	0.50mi	3/1.0	1,081 (+4%)	8mo	$40,000	$37	63
18435 Robson St	0.41mi	3/1.0	925 (-11%)	0mo	$86,000	$93	62
19341 Schaefer Hwy	0.67mi	2/1.0 (-1)	1,023 (-2%)	8mo	$37,500	$37	55
19152 Whitcomb St	0.72mi	2/1.5 (-1)	1,012 (-3%)	1mo	$110,000	$109	54
18643 Hubbell St	0.29mi	2/1.5 (-1)	1,178 (+13%)	6mo	$43,728	$37	52
19193 Lesure St	0.54mi	2/2.0 (-1)	909 (-13%)	1mo	$140,000	$154	44
16854 Lesure St	0.70mi	3/1.0	886 (-15%)	3mo	$105,000	$119	40
18975 Sussex St	0.63mi	3/2.0	1,157 (+11%)	11mo	$160,000	$138	39

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-16,418
• Equity at exit: $20,860

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-5,066
• 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 48235

• Rents YoY: 3.2%
• Active inventory: 290
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,418 high
• Mortgage (P&I): −$734
• Tax from tax record: −$237 /mo · $2,841/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $92

Break-even live

Break-even rent $1,302

Max offer price $139,900

Occupancy floor 89%

Sensitivity live

Price	-10% $171	-5% $131	+0% $92	+5% $52	+10% $12
Rent	-10% $-20	-5% $36	+0% $92	+5% $148	+10% $204
Rate	-1.0pp $162	-0.5pp $127	base $92	+0.5pp $55	+1.0pp $18

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 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	18d	1	0.09mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	0.28mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	25d	1	0.35mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	4d	1	0.55mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	0.66mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	6d	1	0.72mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	6d	1	0.81mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	45d	1	0.82mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	6d	1	0.89mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.92mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	4d	1	0.96mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.02mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	45d	1	1.02mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	45d	2	1.03mi
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,400	$0.97	18d	1	1.05mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.07mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	1.07mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	1.12mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	1.18mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	4d	1	1.21mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	45d	1	1.21mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	18d	1	1.22mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	1.25mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	25d	1	1.26mi
20426 Tracey St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	25d	1	1.28mi
19503 Mansfield St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	18d	1	1.28mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	18d	1	1.30mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	25d	1	1.36mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	21d	1	1.39mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	45d	1	1.39mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.40mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	6d	1	1.43mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	45d	1	1.45mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	45d	1	1.46mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	4d	1	1.47mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	45d	1	1.49mi

Listing history 26 events

1. 2026-06-21
   days on market $139,900 Active 11 DOM
2. 2026-06-18
   days on market $139,900 Active 8 DOM
3. 2026-06-17
   days on market $139,900 Active 7 DOM
4. 2026-06-16
   days on market $139,900 Active 6 DOM
5. 2026-06-15
   days on market $139,900 Active 5 DOM
6. 2026-06-13
   days on market $139,900 Active 3 DOM
7. 2026-06-13
   pricedays on marketlisting id $139,900 Active 2 DOM
8. 2026-04-22
   price $149,900 967-char remark
9. 2026-04-22
   price $149,900 973-char remark
10. 2026-03-20
    price $159,900 967-char remark
11. 2026-03-20
    price $159,900 973-char remark
12. 2026-02-16
    listed $169,900 Active 967-char remark
13. 2026-02-16
    listed $169,900 Active 973-char remark
14. 2026-02-16
    historical $169,900 967-char remark
15. 2025-06-26
    soldstatus $72,500
16. 2025-06-09
    soldstatus $72,500 Closed
17. 2025-06-09
    soldstatus $72,500 Closed
18. 2025-06-01
    status Pending
19. 2025-06-01
    status Pending
20. 2025-05-24
    status Active
21. 2025-05-24
    status Active
22. 2025-05-19
    status Pending
23. 2025-05-19
    status Pending
24. 2025-05-15
    listed $69,900 Active
25. 2025-05-15
    listed $69,900 Active
26. 2025-05-13
    historical $69,900

ⓘ 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: $2,841 · $237/mo
• Projected year-2 tax: $2,841 · $237/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 ≥98°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: $17,017
• − Mortgage interest: −$7,837
• − Property taxes: −$2,841
• − Insurance: −$700
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$4,070
• Taxable loss: −$1,152
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $1,376/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+100.1% since first listed

23 events — show timeline

• 2026-06-09 Listed $139,900 MiRealSource-MiMLS
• 2026-06-09 Listed $139,900 REALCOMP
• 2026-05-25 Listing Removed — REALCOMP
• 2026-05-25 Listing Removed — MiRealSource-MiMLS
• 2026-04-22 Price Changed $149,900 MiRealSource-MiMLS
• 2026-04-22 Price Changed $149,900 REALCOMP
• 2026-03-20 Price Changed $159,900 MiRealSource-MiMLS
• 2026-03-20 Price Changed $159,900 REALCOMP
• 2026-02-16 Listed $169,900 MiRealSource-MiMLS
• 2026-02-16 Listed $169,900 REALCOMP
• 2026-02-16 Coming Soon — MiRealSource-MiMLS
• 2025-06-26 Sold (Public Records) $72,500 Public Records
• 2025-06-09 Sold (MLS) $72,500 REALCOMP
• 2025-06-09 Sold (MLS) $72,500 MiRealSource-MiMLS
• 2025-06-01 Pending — MiRealSource-MiMLS
• 2025-06-01 Pending — REALCOMP
• 2025-05-24 Relisted — MiRealSource-MiMLS
• 2025-05-24 Relisted — REALCOMP
• 2025-05-19 Pending — MiRealSource-MiMLS
• 2025-05-19 Pending — REALCOMP
• 2025-05-15 Listed $69,900 MiRealSource-MiMLS
• 2025-05-15 Listed $69,900 REALCOMP
• 2025-05-13 Coming Soon $69,900 MiRealSource-MiMLS

Property tax history

+13.8%/yr

Latest (2025): $2,841 · +37.6% YoY. Source: county tax records.