18104 Runyon St · Detroit, MI 48234

$60,500

3 bd · 1.0 ba · 1,078 sqft · SingleFamily public records · 28 Days on market

Built 1963 4,356 sqft lot $56/sqft · at area comps Est $60k · 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 +7.5/15.0
• 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

Beautiful ranch house available! Walk into a spacious home, well maintained, ready to move in! It's a great house with 3be/1 bath. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1963

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 36 x 120 (0.1 acre)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Total of 6 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/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: $60k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.7% 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; 34 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 $1,330/mo this rent would consume 45% 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 $418 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 28 days — a 2% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 31y 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: property tax is 2.6% of price.

Recommended offer $59,592 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 17.73%
• Cash-on-cash: 40.83%
• DSCR: 2.82
• GRM: 3.8

CMA / ARV

• ARV (median comp): $60,442
• List price: $60,500
• Delta: 0.10%
• 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
18104 Runyon St	0.00mi	3/1.0	1,078 (0%)	0mo	$58,000	$54	100
17665 Runyon St	0.28mi	3/2.0	1,096 (+2%)	1mo	$50,000	$46	80
17650 Beland St	0.31mi	3/1.5	1,094 (+2%)	2mo	$67,000	$61	79
17892 Runyon St	0.14mi	3/1.5	995 (-8%)	2mo	$56,000	$56	77
18696 Blackmoor St	0.39mi	3/1.0	1,010 (-6%)	0mo	$77,500	$77	71
18431 Teppert St	0.12mi	4/1.0 (+1)	1,200 (+11%)	2mo	$67,500	$56	69
8245 E Hildale St	0.70mi	3/1.0	1,028 (-5%)	3mo	$45,000	$44	57
12802 Dresden St	0.73mi	3/1.0	1,152 (+7%)	5mo	$25,000	$22	50
18982 Hamburg St	0.61mi	3/1.0	952 (-12%)	3mo	$45,000	$47	50
19161 Hamburg St	0.66mi	3/1.0	960 (-11%)	2mo	$116,000	$121	49
11455 Kenmoor St	0.75mi	3/1.5	955 (-11%)	4mo	$119,000	$125	41
18652 Goulburn St	0.71mi	4/1.0 (+1)	1,200 (+11%)	2mo	$23,000	$19	41

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: 41.8%
• Equity multiple: 2.90×
• Total profit: $32,124
• Equity at exit: $9,021

10-year hold

• IRR: 49.7%
• Equity multiple: 6.81×
• Total profit: $98,337
• Equity at exit: $5,231

Cash invested: $16,940 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,330 high
• Mortgage (P&I): −$317
• Tax from tax record: −$132 /mo · $1,579/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $576

Break-even live

Break-even rent $600

Max offer price $60,500

Occupancy floor 52%

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: $15,125
• Closing costs: $1,815
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	0.12mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	1d	1	0.13mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.43mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	0.48mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.55mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.61mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	21d	1	0.80mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.80mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	0.81mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.82mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	0.84mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	17d	1	0.85mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	0.85mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.87mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	0.87mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	17d	1	0.89mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	0.93mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	0.95mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.03mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	17d	1	1.04mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.07mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	1.07mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.07mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.21mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	17d	1	1.23mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.24mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	4d	1	1.25mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.29mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	16d	1	1.30mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.36mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.36mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	1.38mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	4d	1	1.40mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	1.41mi

Listing history 15 events

1. 2026-06-07
   status $60,500 Pending 28 DOM
2. 2026-06-04
   days on market $60,500 Active 28 DOM

   Show marketing remark (224 chars)

   Beautiful ranch house available! Walk into a spacious home, well maintained, ready to move in! It's a great house with 3be/1 bath. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

3. 2026-06-03
   days on market $60,500 Active 27 DOM
4. 2026-06-02
   days on market $60,500 Active 26 DOM
5. 2026-06-01
   days on market $60,500 Active 25 DOM
6. 2026-05-31
   days on market $60,500 Active 24 DOM
7. 2026-05-07
   listed $60,500 Active 224-char remark

   Show marketing remark (224 chars)

   Beautiful ranch house available! Walk into a spacious home, well maintained, ready to move in! It's a great house with 3be/1 bath. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

8. 2026-05-07
   listed $60,500 Active 224-char remark

   Show marketing remark (224 chars)

   Beautiful ranch house available! Walk into a spacious home, well maintained, ready to move in! It's a great house with 3be/1 bath. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

9. 2018-08-20
   soldstatus $60,495

   Show marketing remark (111 chars)

   Great curb appeal--well taken care of home--close to I-94--shopping--schools. Updated kitchen, freshly painted.

10. 2018-08-20
    soldstatus $60,495

    Show marketing remark (111 chars)

    Great curb appeal--well taken care of home--close to I-94--shopping--schools. Updated kitchen, freshly painted.

11. 2018-08-16
    soldstatus $61,750
12. 2018-07-18
    listed $64,750

    Show marketing remark (111 chars)

    Great curb appeal--well taken care of home--close to I-94--shopping--schools. Updated kitchen, freshly painted.

13. 2018-07-18
    listed $64,750

    Show marketing remark (111 chars)

    Great curb appeal--well taken care of home--close to I-94--shopping--schools. Updated kitchen, freshly painted.

14. 1995-08-09
    soldstatus $42,500
15. 1995-04-29
    listed $42,000

ⓘ 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: $1,579 · $132/mo
• Projected year-2 tax: $1,579 · $132/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 ≥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: $15,956
• − Mortgage interest: −$3,389
• − Property taxes: −$1,579
• − Insurance: −$302
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$1,760
• Taxable income: $6,373
• Est. tax owed @ 24.0%: −$1,529
• After-tax cash flow: $5,387/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

+38.1% since first listed

13 events — show timeline

• 2026-06-11 Sold (MLS) $58,000 REALCOMP
• 2026-06-11 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2026-06-04 Pending — MiRealSource-MiMLS
• 2026-06-04 Pending — REALCOMP
• 2026-05-07 Listed $60,500 REALCOMP
• 2026-05-07 Listed $60,500 MiRealSource-MiMLS
• 2018-08-20 Sold (MLS) $60,495 MiRealSource-MiMLS
• 2018-08-20 Sold (MLS) $60,495 REALCOMP
• 2018-08-16 Sold (Public Records) $61,750 Public Records
• 2018-07-18 Listed $64,750 MiRealSource-MiMLS
• 2018-07-18 Listed $64,750 REALCOMP
• 1995-08-09 Sold (MLS) $42,500 REALCOMP
• 1995-04-29 Listed $42,000 REALCOMP

Property tax history

-1.4%/yr

Latest (2025): $1,579 · +0.1% YoY. Source: county tax records.