20274 Hickory St · Detroit, MI 48205

$59,900

3 bd · 1.0 ba · 1,006 sqft · SingleFamily public records · 91 Days on market

Built 1942 5,227 sqft lot $60/sqft · 50% above area Est $40k · 50% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move Right into this newly renovated modern home. This home features new pint and carpet throughout. Located in a stable area close to shopping, restaurants, schools and more. Walk right into the wow and leave making an offer right away. This one wont last. Perfect for first time homebuyers and investors. SOLD AS IS. Schedule your appointment today.

Key facts

• 5,227 sq ft lot
• Built 1942
• Listed 91 days

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 $662 ($8k/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: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 10.1% 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 (+1.3%/yr); 376 active listings in the ZIP; 38 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 42% 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 $414 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 + 1.3% 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 91 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 18y 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 $4k; list at $60k implies a 1361% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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: 2.30% ✓
• Cap rate: 19.55%
• Cash-on-cash: 47.36%
• DSCR: 3.11
• GRM: 3.6

CMA / ARV

• ARV (median comp): $40,055
• List price: $59,900
• Delta: 49.54%
• 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
20020 Pelkey St	0.19mi	3/1.0	1,020 (+1%)	2mo	$75,000	$74	88
20218 Hickory St	0.05mi	3/1.0	930 (-8%)	1mo	$26,000	$28	84
20300 Hickory St	0.02mi	3/1.0	918 (-9%)	1mo	$31,000	$34	84
20218 Goulburn St	0.31mi	3/1.0	965 (-4%)	1mo	$12,000	$12	78
20577 Fairport St	0.25mi	3/1.0	1,078 (+7%)	1mo	$65,000	$60	76
19730 Goulburn St	0.50mi	3/1.5	977 (-3%)	1mo	$114,000	$117	69
20541 Barlow St	0.47mi	2/1.0 (-1)	980 (-3%)	2mo	$60,000	$61	67
14076 Rossini Dr	0.56mi	3/1.0	1,055 (+5%)	0mo	$90,000	$85	66
19940 Westphalia St	0.36mi	3/1.0	1,114 (+11%)	0mo	$30,000	$27	65
13452 Tacoma St	0.40mi	3/1.0	900 (-10%)	1mo	$69,072	$77	63
20543 Waltham St	0.42mi	3/1.0	890 (-12%)	1mo	$50,000	$56	61
13046 Sherman Ave	0.47mi	4/1.0 (+1)	870 (-14%)	1mo	$120,000	$138	50

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 42.8%
• Equity multiple: 2.80×
• Total profit: $30,203
• Equity at exit: $8,931

10-year hold

• IRR: 48.1%
• Equity multiple: 5.27×
• Total profit: $71,674
• Equity at exit: $5,179

Cash invested: $16,772 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$314
• Tax from tax record: −$85 /mo · $1,026/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $662

Break-even live

Break-even rent $537

Max offer price $59,900

Occupancy floor 47%

Sensitivity live

Price	-10% $696	-5% $679	+0% $662	+5% $645	+10% $628
Rent	-10% $553	-5% $608	+0% $662	+5% $716	+10% $771
Rate	-1.0pp $692	-0.5pp $677	base $662	+0.5pp $646	+1.0pp $631

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.04mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	0.07mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	0.12mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.19mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	0.22mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	0.35mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	0.35mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	0.36mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.36mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.47mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.48mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.52mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	19d	1	0.53mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	44d	1	0.54mi
21311 Waltham Rd Warren, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	0.60mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,320	$1.55	0d	1	0.61mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	18d	1	0.65mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.66mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.72mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	18d	1	0.74mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	18d	1	0.77mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.78mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.82mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	0.98mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.98mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.04mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.06mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	23d	1	1.07mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.07mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	1.10mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	1.10mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	25d	1	1.16mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	1.23mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.28mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	19d	1	1.35mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	44d	1	1.36mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	25d	1	1.36mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	1.45mi

Listing history 50 events

1. 2026-06-15
   days on market $59,900 Active 91 DOM
2. 2026-06-13
   days on market $59,900 Active 89 DOM
3. 2026-06-13
   days on market $59,900 Active 88 DOM
4. 2026-06-09
   days on market $59,900 Active 85 DOM
5. 2026-06-08
   days on market $59,900 Active 84 DOM
6. 2026-06-07
   days on market $59,900 Active 83 DOM
7. 2026-06-04
   days on market $59,900 Active 80 DOM
8. 2026-06-03
   days on market $59,900 Active 79 DOM
9. 2026-06-01
   days on market $59,900 Active 77 DOM
10. 2026-05-31
    days on market $59,900 Active 76 DOM
11. 2026-03-16
    listed $59,900 Active 351-char remark

    Show marketing remark (351 chars)

    Move Right into this newly renovated modern home. This home features new pint and carpet throughout. Located in a stable area close to shopping, restaurants, schools and more. Walk right into the wow and leave making an offer right away. This one wont last. Perfect for first time homebuyers and investors. SOLD AS IS. Schedule your appointment today.

12. 2026-03-16
    listed $59,900 Active 351-char remark

    Show marketing remark (351 chars)

    Move Right into this newly renovated modern home. This home features new pint and carpet throughout. Located in a stable area close to shopping, restaurants, schools and more. Walk right into the wow and leave making an offer right away. This one wont last. Perfect for first time homebuyers and investors. SOLD AS IS. Schedule your appointment today.

13. 2026-01-05
    historical
14. 2026-01-05
    historical
15. 2025-11-12
    price $57,500
16. 2025-11-11
    price $57,500
17. 2025-10-04
    listed $60,000 Active
18. 2025-10-04
    listed $60,000 Active
19. 2024-04-25
    historical
20. 2024-04-25
    historical
21. 2024-01-07
    listed $39,900 Active
22. 2024-01-07
    listed $39,900
23. 2024-01-01
    historical
24. 2024-01-01
    historical
25. 2023-12-13
    price $39,000
26. 2023-12-13
    price $39,000
27. 2023-11-29
    listed $39,900 Active
28. 2023-11-29
    listed $39,900 Active
29. 2021-06-08
    historical
30. 2021-06-08
    historical
31. 2020-10-08
    price $35,000
32. 2020-10-08
    price $35,000
33. 2020-10-06
    listed $29,900 Active
34. 2020-10-06
    listed $29,900 Active
35. 2020-06-02
    historical
36. 2020-06-02
    historical
37. 2020-03-06
    listed $35,000 Active
38. 2020-03-06
    listed $35,000
39. 2020-02-06
    historical
40. 2020-02-06
    historical
41. 2020-02-03
    listed $35,000 Active
42. 2020-02-03
    listed $35,000 Active
43. 2019-12-13
    historical
44. 2019-12-13
    historical
45. 2019-11-19
    listed $29,999 Active
46. 2019-11-19
    listed $29,999 Active
47. 2019-11-08
    historical
48. 2019-11-08
    historical
49. 2019-10-23
    price $42,000
50. 2019-10-22
    price $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: $1,026 · $85/mo
• Projected year-2 tax: $1,026 · $85/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 · 14 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: $16,503
• − Mortgage interest: −$3,355
• − Property taxes: −$1,026
• − Insurance: −$300
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$1,743
• Taxable income: $7,439
• Est. tax owed @ 24.0%: −$1,785
• After-tax cash flow: $6,157/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+150.6% since first listed

51 events — show timeline

• 2026-03-16 Listed $59,900 REALCOMP
• 2026-03-16 Listed $59,900 MiRealSource-MiMLS
• 2026-01-05 Listing Removed — MiRealSource-MiMLS
• 2026-01-05 Listing Removed — REALCOMP
• 2025-11-12 Price Changed $57,500 MiRealSource-MiMLS
• 2025-11-11 Price Changed $57,500 REALCOMP
• 2025-10-04 Listed $60,000 MiRealSource-MiMLS
• 2025-10-04 Listed $60,000 REALCOMP
• 2024-04-25 Listing Removed — MiRealSource-MiMLS
• 2024-04-25 Listing Removed — REALCOMP
• 2024-01-07 Listed $39,900 MiRealSource-MiMLS
• 2024-01-07 Listed $39,900 REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-12-13 Price Changed $39,000 MiRealSource-MiMLS
• 2023-12-13 Price Changed $39,000 REALCOMP
• 2023-11-29 Listed $39,900 MiRealSource-MiMLS
• 2023-11-29 Listed $39,900 REALCOMP
• 2021-06-08 Listing Removed — REALCOMP
• 2021-06-08 Listing Removed — MiRealSource-MiMLS
• 2020-10-08 Price Changed $35,000 MiRealSource-MiMLS
• 2020-10-08 Price Changed $35,000 REALCOMP
• 2020-10-06 Listed $29,900 MiRealSource-MiMLS
• 2020-10-06 Listed $29,900 REALCOMP
• 2020-06-02 Listing Removed — REALCOMP
• 2020-06-02 Listing Removed — MiRealSource-MiMLS
• 2020-03-06 Listed $35,000 REALCOMP
• 2020-03-06 Listed $35,000 MiRealSource-MiMLS
• 2020-02-06 Listing Removed — REALCOMP
• 2020-02-06 Listing Removed — MiRealSource-MiMLS
• 2020-02-03 Listed $35,000 MiRealSource-MiMLS
• 2020-02-03 Listed $35,000 REALCOMP
• 2019-12-13 Listing Removed — REALCOMP
• 2019-12-13 Listing Removed — MiRealSource-MiMLS
• 2019-11-19 Listed $29,999 MiRealSource-MiMLS
• 2019-11-19 Listed $29,999 REALCOMP
• 2019-11-08 Listing Removed — REALCOMP
• 2019-11-08 Listing Removed — MiRealSource-MiMLS
• 2019-10-23 Price Changed $42,000 MiRealSource-MiMLS
• 2019-10-22 Price Changed $42,000 REALCOMP
• 2019-10-06 Price Changed $35,000 MiRealSource-MiMLS
• 2019-10-05 Price Changed $35,000 REALCOMP
• 2019-10-01 Listed $30,000 MiRealSource-MiMLS
• 2019-10-01 Listed $30,000 REALCOMP
• 2009-04-29 Sold (MLS) $4,100 REALCOMP
• 2009-03-12 Listed $4,500 REALCOMP
• 2008-12-09 Listing Removed — REALCOMP
• 2008-12-02 Listed $4,900 REALCOMP
• 2008-11-14 Listing Removed — REALCOMP
• 2008-06-06 Listed $4,900 REALCOMP
• 1991-08-12 Sold (Public Records) $23,900 Public Records

Property tax history

-4.9%/yr

Latest (2025): $1,026 · -53.8% YoY. Source: county tax records.