17412 Wanda St · Detroit, MI 48203

$75,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 9 Days on market

Built 1919 3,049 sqft lot ↓ 17% since listing

---

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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 1-bathroom home offers a functional floor plan, comfortable living spaces, and exceptional potential. Whether you're a first-time homebuyer, looking to downsize, or seeking a valuable addition to your investment portfolio, this property offers the versatility to meet various needs. Conveniently located near shopping, dining, parks, major freeways, and the University of Detroit Mercy area, you'll enjoy easy access to everyday conveniences and neighborhood amenities.

Key facts

• 3,049 sq ft lot
• Built 1919
• Listed 9 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Ranch-style single-family residence; Built in 1919
• Construction: Vinyl siding
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Kitchen area (approximately 9 x 10); Oven
• Bedrooms: Primary bedroom (approximately 9 x 10); Second bedroom (approximately 9 x 9)
• Bathrooms: One full bathroom (approximately 5 x 8)
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Full basement; Oven included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).

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: 218 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($38k/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 $519 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 + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1919 — 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: 1.38% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.93%
• DSCR: 1.80
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $23,520
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18828 Hawthorne St	0.71mi	2/1.0	684 (+2%)	0mo	$50,000	$73	64
18064 Greeley St	0.57mi	2/1.0	680 (+1%)	12mo	$24,000	$35	61
18149 Riopelle St	0.64mi	2/1.0	750 (+12%)	20mo	$25,000	$33	34

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $7,841
• Equity at exit: $11,183

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $32,596
• Equity at exit: $6,485

Cash invested: $21,000 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 218
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,037 high
• Mortgage (P&I): −$393
• Tax from tax record: −$81 /mo · $975/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $314

Break-even live

Break-even rent $640

Max offer price $75,000

Occupancy floor 65%

Sensitivity live

Price	-10% $356	-5% $335	+0% $314	+5% $293	+10% $271
Rent	-10% $232	-5% $273	+0% $314	+5% $355	+10% $396
Rate	-1.0pp $352	-0.5pp $333	base $314	+0.5pp $294	+1.0pp $275

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Ferris St Highland Park, MI	1.0	1.0	700	$725	$1.04	13d	1	0.64mi
10 Ferris St Unit 208/209 Highland Park, MI	1.0	1.0	700	$725	$1.04	21d	1	0.64mi
885 Covington Dr Unit 102 Highland Park, MI	1.0	1.0	550	$1,050	$1.91	45d	1	1.04mi
885 Covington Dr Unit 312 Highland Park, MI	1.0	1.0	650	$1,045	$1.61	45d	1	1.04mi
885 Covington Dr Unit 412 Highland Park, MI	1.0	1.0	600	$1,045	$1.74	16d	1	1.04mi
885 Covington Dr Unit 304 Highland Park, MI	1.0	1.0	600	$1,010	$1.68	45d	1	1.04mi
931 Covington Dr Unit 204 Highland Park, MI	1.0	1.0	550	$1,100	$2.00	45d	1	1.08mi
931 Covington Dr Unit 205 Highland Park, MI	1.0	1.0	550	$1,070	$1.95	45d	1	1.08mi
931 Covington Dr Unit 202 Highland Park, MI	2.0	2.0	550	$1,400	$2.55	45d	1	1.08mi
931 Covington Dr Unit 206 Highland Park, MI	1.0	1.0	550	$1,095	$1.99	45d	1	1.08mi
931 Covington Dr Unit 216 Highland Park, MI	1.0	1.0	550	$1,125	$2.05	45d	1	1.08mi
931 Covington Dr Unit 201 Highland Park, MI	1.0	1.0	550	$1,110	$2.02	45d	1	1.08mi
931 Covington Dr Unit 210 Highland Park, MI	1.0	1.0	550	$1,090	$1.98	45d	1	1.08mi
931 Covington Dr Unit 214 Highland Park, MI	1.0	1.0	550	$930	$1.69	45d	1	1.08mi
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	45d	1	1.09mi
17449 Manderson Rd Unit 1 Detroit, MI	2.0	1.0	750	$1,150	$1.53	25d	1	1.09mi
17449 Manderson Rd Unit 16 Detroit, MI	1.0	1.0	700	$950	$1.36	25d	1	1.09mi
17449 Manderson Rd Unit 13 Detroit, MI	1.0	1.0	700	$1,015	$1.45	4d	1	1.09mi
17449 Manderson Rd Unit 3 Detroit, MI	1.0	1.0	700	$1,015	$1.45	25d	1	1.09mi
17449 Manderson Rd Unit 8 Detroit, MI	1.0	1.0	700	$950	$1.36	21d	1	1.09mi
17449 Manderson Rd Unit 3 Detroit, MI	1.0	1.0	700	$950	$1.36	4d	1	1.09mi
17461 Manderson Rd Unit 5 Detroit, MI	1.0	1.0	700	$1,015	$1.45	23d	1	1.10mi
17497 Manderson Rd Unit 18A Detroit, MI	1.0	1.0	700	$91,015	$130.02	23d	1	1.11mi
17497 Manderson Rd Unit 17A Detroit, MI	1.0	1.0	700	$1,015	$1.45	25d	1	1.11mi
17497 Manderson Rd Unit 17 Detroit, MI	1.0	1.0	700	$1,015	$1.45	23d	1	1.11mi
17701 MANDERSON Detroit, MI	1.0	1.0	750	$925	$1.23	18d	9	1.19mi
17701 Manderson Rd Unit 104 Highland Park, MI	1.0	1.0	750	$950	$1.27	45d	1	1.19mi
17701 Manderson Rd Unit 202 Highland Park, MI	1.0	1.0	750	$900	$1.20	45d	1	1.19mi

Listing history 7 events

1. 2026-06-21
   days on market $75,000 Active 9 DOM
2. 2026-06-18
   days on market $75,000 Active 6 DOM
3. 2026-06-17
   days on market $75,000 Active 5 DOM
4. 2026-06-16
   days on market $75,000 Active 4 DOM
5. 2026-06-15
   days on market $75,000 Active 3 DOM
6. 2026-06-13
   remarks 494-char remark
7. 2026-06-13
   listed $75,000 Active 1 DOM

ⓘ 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: $975 · $81/mo
• Projected year-2 tax: $1,065 · $89/mo
• Expected delta: +$90/yr (+$8/mo · 9.3%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,449
• − Mortgage interest: −$4,201
• − Property taxes: −$975
• − Insurance: −$375
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$2,182
• Taxable income: $2,725
• Est. tax owed @ 24.0%: −$654
• After-tax cash flow: $3,112/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

-16.7% since first listed

9 events — show timeline

• 2026-06-12 Listed $75,000 REALCOMP
• 2026-06-12 Listed $75,000 SW Michigan MLS
• 2026-06-12 Listed $75,000 MiRealSource-MiMLS
• 2026-06-11 Coming Soon $75,000 MiRealSource-MiMLS
• 2026-06-11 Coming Soon $75,000 SW Michigan MLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2025-09-02 Listed $90,000 REALCOMP
• 2025-09-02 Listed $90,000 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $975 · -55.1% YoY. Source: county tax records.