18715 Albion St · Detroit, MI 48234

$50,000

3 bd · 1.0 ba · 1,173 sqft · SingleFamily public records · 37 Days on market

Built 1947 4,792 sqft lot Est $70k · 29% under

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

Investor special on Detroit's east side! Great opportunity to add to your rental portfolio or take on your next flip project. Property offers strong rental potential with the right vision and updates. Priced to sell. Don't miss this value-add opportunity! Please contact listing agent for more photos.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1947

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.2% 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; 40 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).
• At $1,355/mo this rent would consume 46% 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 $346 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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.
• Current owner paid $14k; list at $50k implies a 247% 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 $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.71% ✓
• Cap rate: 23.20%
• Cash-on-cash: 60.37%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $70,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18431 Teppert St	0.24mi	4/1.0 (+1)	1,200 (+2%)	2mo	$67,500	$56	78
18104 Runyon St	0.26mi	3/1.0	1,078 (-8%)	0mo	$58,000	$54	74
18009 Beland St	0.39mi	3/2.0	1,200 (+2%)	5mo	$102,000	$85	70
18946 Beland St	0.17mi	2/1.0 (-1)	1,306 (+11%)	4mo	$43,000	$33	65
18696 Blackmoor St	0.34mi	3/1.0	1,010 (-14%)	0mo	$77,500	$77	61
17665 Runyon St	0.53mi	3/2.0	1,096 (-7%)	1mo	$50,000	$46	60
17650 Beland St	0.56mi	3/1.5	1,094 (-7%)	2mo	$67,000	$61	59
18652 Goulburn St	0.66mi	4/1.0 (+1)	1,200 (+2%)	2mo	$23,000	$19	58
18515 Gruebner St	0.33mi	3/2.0	1,336 (+14%)	4mo	$142,000	$106	54
18680 Westphalia St	0.72mi	4/1.0 (+1)	1,247 (+6%)	0mo	$75,000	$60	50
19591 Strasburg St	0.61mi	3/1.5	1,034 (-12%)	3mo	$89,000	$86	47
8245 E Hildale St	0.72mi	3/1.0	1,028 (-12%)	3mo	$45,000	$44	43

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: 63.4%
• Equity multiple: 4.00×
• Total profit: $42,051
• Equity at exit: $7,455

10-year hold

• IRR: 69.1%
• Equity multiple: 9.42×
• Total profit: $117,826
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,355 high
• Mortgage (P&I): −$262
• Tax from tax record: −$83 /mo · $1,000/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $704

Break-even live

Break-even rent $464

Max offer price $50,000

Occupancy floor 43%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	1d	1	0.22mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	0.32mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.50mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.55mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.56mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	0.68mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	17d	1	0.74mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.78mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.78mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	21d	1	0.78mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	0.80mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.84mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	0.87mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	17d	1	0.89mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	17d	1	0.94mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.94mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	1.01mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.02mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	17d	1	1.03mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	1.04mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	1.06mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.06mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	1.07mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.17mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.18mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	1.19mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.20mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.21mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.24mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	1.24mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.30mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	1.37mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.38mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.38mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	1.41mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	24d	1	1.41mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.41mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.42mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	43d	1	1.42mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.43mi

Listing history 15 events

1. 2026-04-23
   status Pending 301-char remark

   Show marketing remark (301 chars)

   Investor special on Detroit's east side! Great opportunity to add to your rental portfolio or take on your next flip project. Property offers strong rental potential with the right vision and updates. Priced to sell. Don't miss this value-add opportunity! Please contact listing agent for more photos.

2. 2026-04-23
   status Pending

   Show marketing remark (301 chars)

   Investor special on Detroit's east side! Great opportunity to add to your rental portfolio or take on your next flip project. Property offers strong rental potential with the right vision and updates. Priced to sell. Don't miss this value-add opportunity! Please contact listing agent for more photos.

3. 2026-03-17
   listed $50,000 Active

   Show marketing remark (301 chars)

   Investor special on Detroit's east side! Great opportunity to add to your rental portfolio or take on your next flip project. Property offers strong rental potential with the right vision and updates. Priced to sell. Don't miss this value-add opportunity! Please contact listing agent for more photos.

4. 2026-03-17
   listed $50,000 Active 301-char remark

   Show marketing remark (301 chars)

   Investor special on Detroit's east side! Great opportunity to add to your rental portfolio or take on your next flip project. Property offers strong rental potential with the right vision and updates. Priced to sell. Don't miss this value-add opportunity! Please contact listing agent for more photos.

5. 2012-05-08
   historical
6. 2012-05-08
   historical
7. 2012-05-01
   historical
8. 2012-04-06
   listed $9,000
9. 2012-04-06
   listed $9,000
10. 2012-04-06
    listed $9,000
11. 2012-03-23
    historical
12. 2012-03-23
    historical
13. 2012-03-16
    listed $9,900
14. 2012-03-16
    listed $9,900
15. 1994-04-08
    soldstatus $14,412

ⓘ 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: $1,000 · $83/mo
• Projected year-2 tax: $1,000 · $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 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: $16,263
• − Mortgage interest: −$2,801
• − Property taxes: −$1,000
• − Insurance: −$250
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$1,455
• Taxable income: $8,156
• Est. tax owed @ 24.0%: −$1,957
• After-tax cash flow: $6,494/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

+246.9% since first listed

15 events — show timeline

• 2026-04-23 Pending — MiRealSource-MiMLS
• 2026-04-23 Pending — REALCOMP
• 2026-03-17 Listed $50,000 REALCOMP
• 2026-03-17 Listed $50,000 MiRealSource-MiMLS
• 2012-05-08 Listing Removed — MiRealSource-MiMLS
• 2012-05-08 Listing Removed — REALCOMP
• 2012-05-01 Listing Removed — MiRealSource-MiMLS
• 2012-04-06 Listed $9,000 MiRealSource-MiMLS
• 2012-04-06 Listed $9,000 MiRealSource-MiMLS
• 2012-04-06 Listed $9,000 REALCOMP
• 2012-03-23 Listing Removed — REALCOMP
• 2012-03-23 Listing Removed — MiRealSource-MiMLS
• 2012-03-16 Listed $9,900 REALCOMP
• 2012-03-16 Listed $9,900 MiRealSource-MiMLS
• 1994-04-08 Sold (Public Records) $14,412 Public Records

Property tax history

-3.6%/yr

Latest (2025): $1,000 · -40.5% YoY. Source: county tax records.