20471 Marx St · Detroit, MI 48203

$111,999

3 bd · 1.0 ba · 1,226 sqft · SingleFamily public records · 74 Days on market

Built 1940 4,792 sqft lot $91/sqft · 39% above area Est $97k · 16% over

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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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +7.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 20471 Marx Street! This well-maintained bungalow is currently tenant-occupied and generating $1,300/month in rental income, making it the perfect starter home or turnkey investment property. Please do not disturb the tenant! Showings by appointment only. A copy of the current lease and ledger is available upon request. Appliances are included in the sale. The home offers a solid foundation and comfortable living spaces, giving buyers peace of mind and immediate cash flow. Whether you're looking to expand your portfolio or purchase your first home, this property delivers value, stability, and opportunity.

Key facts

• Immediate cash flow
• Tenant occupied
• Solid foundation

Tags

• TENANT OCCUPIED
• RENTAL INCOME
• APPLIANCES INCLUDED
• SOLID FOUNDATION
• COMFORTABLE LIVING SPACES
• IMMEDIATE CASH FLOW

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.

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; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 44% 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 $774 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 25 sale attempts since 24y 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 $13k; list at $112k implies a 762% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,279 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 1940 — 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: 1.27% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $96,855
• List price: $111,999
• Delta: 15.64%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20473 Greeley St	0.18mi	3/1.0	1,179 (-4%)	0mo	$47,000	$40	85
20041 Marx St	0.27mi	3/1.5	1,233 (+1%)	2mo	$130,500	$106	83
1727 E Elza Ave	0.43mi	3/2.0	1,123 (-8%)	1mo	$185,000	$165	61
19710 Greeley St	0.49mi	3/1.5	1,143 (-7%)	3mo	$80,000	$70	61
1107 E Muir Ave	0.44mi	3/1.0	1,081 (-12%)	1mo	$147,900	$137	59
20450 Gallagher St	0.72mi	3/1.0	1,291 (+5%)	1mo	$45,000	$35	56
1535 E Meyers Ave	0.65mi	3/2.0	1,280 (+4%)	4mo	$250,000	$195	55
1437 E Madge Ave	0.63mi	3/1.5	1,104 (-10%)	4mo	$160,000	$145	49
19365 Goddard St	0.74mi	3/1.0	1,100 (-10%)	1mo	$97,500	$89	48
750 E Hayes Ave	0.64mi	4/1.5 (+1)	1,125 (-8%)	2mo	$212,500	$189	48
3168 Berkshire Ave	0.73mi	2/1.0 (-1)	1,320 (+8%)	2mo	$80,000	$61	46
800 E Bernhard Ave	0.68mi	3/1.0	1,390 (+13%)	2mo	$175,000	$126	44

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: 3.3%
• Equity multiple: 1.13×
• Total profit: $4,028
• Equity at exit: $16,699

10-year hold

• IRR: 12.9%
• Equity multiple: 2.02×
• Total profit: $32,123
• Equity at exit: $9,684

Cash invested: $31,360 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,420 high
• Mortgage (P&I): −$587
• Tax est. 1.5%: −$140 /mo · $1,680/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $348

Break-even live

Break-even rent $980

Max offer price $111,999

Occupancy floor 70%

Sensitivity live

Price	-10% $425	-5% $387	+0% $348	+5% $309	+10% $270
Rent	-10% $236	-5% $292	+0% $348	+5% $404	+10% $460
Rate	-1.0pp $404	-0.5pp $376	base $348	+0.5pp $319	+1.0pp $289

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	0.27mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	23d	1	0.35mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	23d	1	0.47mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	25d	1	0.51mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	23d	1	0.51mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	0.52mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	19d	1	0.53mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	25d	1	0.55mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.55mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,364	$5.80	0d	1	0.58mi
429 E Milton Ave Hazel Park, MI	3.0	2.0	1075	$1,595	$1.48	0d	1	0.84mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	21d	1	0.84mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	25d	1	0.84mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	0.88mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	25d	1	0.94mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.95mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.99mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.07mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.08mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	25d	1	1.09mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.11mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	1.13mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	25d	1	1.17mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	1.18mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	25d	1	1.20mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	6d	1	1.23mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.25mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	25d	1	1.35mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	1.36mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	25d	1	1.36mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	44d	1	1.38mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	12d	1	1.45mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	23d	1	1.48mi

Listing history 50 events

1. 2026-06-15
   days on market $111,999 Active 74 DOM
2. 2026-06-13
   days on market $111,999 Active 72 DOM
3. 2026-06-13
   days on market $111,999 Active 71 DOM
4. 2026-06-09
   days on market $111,999 Active 68 DOM
5. 2026-06-08
   days on market $111,999 Active 67 DOM
6. 2026-06-07
   days on market $111,999 Active 66 DOM
7. 2026-06-04
   days on market $111,999 Active 63 DOM
8. 2026-06-03
   days on market $111,999 Active 62 DOM
9. 2026-06-02
   days on market $111,999 Active 61 DOM
10. 2026-06-01
    days on market $111,999 Active 60 DOM
11. 2026-05-31
    days on market $111,999 Active 59 DOM
12. 2026-04-02
    listed $111,999 Active 622-char remark

    Show marketing remark (622 chars)

    Welcome to 20471 Marx Street! This well-maintained bungalow is currently tenant-occupied and generating $1,300/month in rental income, making it the perfect starter home or turnkey investment property. Please do not disturb the tenant! Showings by appointment only. A copy of the current lease and ledger is available upon request. Appliances are included in the sale. The home offers a solid foundation and comfortable living spaces, giving buyers peace of mind and immediate cash flow. Whether you're looking to expand your portfolio or purchase your first home, this property delivers value, stability, and opportunity.

13. 2026-04-02
    listed $111,999 Active 622-char remark

    Show marketing remark (622 chars)

    Welcome to 20471 Marx Street! This well-maintained bungalow is currently tenant-occupied and generating $1,300/month in rental income, making it the perfect starter home or turnkey investment property. Please do not disturb the tenant! Showings by appointment only. A copy of the current lease and ledger is available upon request. Appliances are included in the sale. The home offers a solid foundation and comfortable living spaces, giving buyers peace of mind and immediate cash flow. Whether you're looking to expand your portfolio or purchase your first home, this property delivers value, stability, and opportunity.

14. 2026-04-01
    historical
15. 2026-04-01
    historical
16. 2026-03-11
    price $111,999
17. 2026-03-10
    price $111,999
18. 2026-02-19
    price $112,999
19. 2026-02-18
    price $112,999
20. 2026-01-18
    price $113,000
21. 2026-01-18
    price $113,000
22. 2026-01-01
    price $115,000
23. 2026-01-01
    price $115,000
24. 2025-12-13
    price $115,500
25. 2025-12-12
    price $115,500
26. 2025-11-24
    listed $119,500 Active
27. 2025-11-24
    listed $119,500 Active
28. 2025-11-22
    historical
29. 2017-10-24
    soldstatus $13,000 Sold
30. 2017-10-24
    soldstatus $13,000 Closed
31. 2017-09-05
    status Pending
32. 2017-09-05
    status Pending
33. 2017-08-31
    status Active
34. 2017-08-31
    status Active
35. 2017-08-29
    status Pending
36. 2017-08-29
    status Pending
37. 2017-08-25
    status Active
38. 2017-08-25
    status Active
39. 2017-08-21
    status Pending
40. 2017-08-21
    status Pending
41. 2017-08-17
    status Active
42. 2017-08-17
    status Active
43. 2017-08-15
    status Pending
44. 2017-08-15
    status Pending
45. 2017-08-15
    status Active
46. 2017-08-15
    status Active
47. 2017-08-11
    status Pending
48. 2017-08-11
    status Pending
49. 2017-08-09
    status Active
50. 2017-08-09
    status Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $17,041
• − Mortgage interest: −$6,274
• − Property taxes: −$1,680
• − Insurance: −$560
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − Depreciation: −$3,258
• Taxable income: $2,542
• Est. tax owed @ 24.0%: −$610
• After-tax cash flow: $3,564/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

+40.2% since first listed

63 events — show timeline

• 2026-04-02 Listed $111,999 MiRealSource-MiMLS
• 2026-04-02 Listed $111,999 REALCOMP
• 2026-04-01 Listing Removed — REALCOMP
• 2026-04-01 Listing Removed — MiRealSource-MiMLS
• 2026-03-11 Price Changed $111,999 MiRealSource-MiMLS
• 2026-03-10 Price Changed $111,999 REALCOMP
• 2026-02-19 Price Changed $112,999 MiRealSource-MiMLS
• 2026-02-18 Price Changed $112,999 REALCOMP
• 2026-01-18 Price Changed $113,000 MiRealSource-MiMLS
• 2026-01-18 Price Changed $113,000 REALCOMP
• 2026-01-01 Price Changed $115,000 MiRealSource-MiMLS
• 2026-01-01 Price Changed $115,000 REALCOMP
• 2025-12-13 Price Changed $115,500 MiRealSource-MiMLS
• 2025-12-12 Price Changed $115,500 REALCOMP
• 2025-11-24 Listed $119,500 MiRealSource-MiMLS
• 2025-11-24 Listed $119,500 REALCOMP
• 2025-11-22 Coming Soon — MiRealSource-MiMLS
• 2017-10-24 Sold (MLS) $13,000 MiRealSource-MiMLS
• 2017-10-24 Sold (MLS) $13,000 REALCOMP
• 2017-09-05 Pending — MiRealSource-MiMLS
• 2017-09-05 Pending — REALCOMP
• 2017-08-31 Relisted — MiRealSource-MiMLS
• 2017-08-31 Relisted — REALCOMP
• 2017-08-29 Pending — MiRealSource-MiMLS
• 2017-08-29 Pending — REALCOMP
• 2017-08-25 Relisted — MiRealSource-MiMLS
• 2017-08-25 Relisted — REALCOMP
• 2017-08-21 Pending — MiRealSource-MiMLS
• 2017-08-21 Pending — REALCOMP
• 2017-08-17 Relisted — MiRealSource-MiMLS
• 2017-08-17 Relisted — REALCOMP
• 2017-08-15 Pending — MiRealSource-MiMLS
• 2017-08-15 Pending — REALCOMP
• 2017-08-15 Relisted — MiRealSource-MiMLS
• 2017-08-15 Relisted — REALCOMP
• 2017-08-11 Pending — MiRealSource-MiMLS
• 2017-08-11 Pending — REALCOMP
• 2017-08-09 Relisted — MiRealSource-MiMLS
• 2017-08-09 Relisted — REALCOMP
• 2017-08-02 Pending — MiRealSource-MiMLS
• 2017-08-02 Pending — REALCOMP
• 2017-08-01 Relisted — MiRealSource-MiMLS
• 2017-08-01 Relisted — REALCOMP
• 2017-07-27 Pending — MiRealSource-MiMLS
• 2017-07-27 Pending — REALCOMP
• 2017-07-26 Relisted — MiRealSource-MiMLS
• 2017-07-26 Relisted — REALCOMP
• 2017-04-24 Pending — MiRealSource-MiMLS
• 2017-04-24 Pending — REALCOMP
• 2017-04-12 Listed $8,000 MiRealSource-MiMLS
• 2017-04-12 Listed $8,000 REALCOMP
• 2013-07-01 Listing Removed — MiRealSource-MiMLS
• 2013-07-01 Listing Removed — REALCOMP
• 2012-03-30 Listed $15,000 MiRealSource-MiMLS
• 2012-03-30 Listed $15,000 REALCOMP
• 2006-05-26 Listing Removed — REALCOMP
• 2006-05-26 Listing Removed — MiRealSource-MiMLS
• 2006-05-12 Listed $99,900 REALCOMP
• 2006-05-10 Listed $99,900 MiRealSource-MiMLS
• 2003-02-26 Sold (Public Records) $79,900 Public Records
• 2002-06-14 Sold (MLS) $79,900 MiRealSource-MiMLS
• 2002-05-01 Listing Removed — MiRealSource-MiMLS
• 2002-04-24 Listed $79,900 MiRealSource-MiMLS

Property tax history

-20.5%/yr

Latest (2025): $130 · -88.3% YoY. Source: county tax records.