20495 Meyers Rd · Detroit, MI 48235

$50,000

2 bd · 1.0 ba · 735 sqft · Townhouse public records · 43 Days on market

Built 1942 3,049 sqft lot $68/sqft · 25% above area Est $56k · 11% under

---

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 +12.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom brick home with full basement, hardwood floors, and more. Located near schools, shopping public transportation and more.

Key facts

• 3,049 sq ft lot
• Built 1942
• Listed 42 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One level with ground-level entry
• Construction: Brick construction; Block foundation; Above-grade finished area of 735 square feet; Below-grade finished area of 300 square feet
• Exterior features: Paved road access; Lot approximately 0.07 acres (31 x 99.99)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Partially finished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/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 19.2% 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 (+3.2%/yr); 283 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $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 + 3.2% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 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 1942 — 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 43 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 1942 — 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: 2.31% ✓
• Cap rate: 19.23%
• Cash-on-cash: 46.22%
• DSCR: 3.06
• GRM: 3.6

CMA / ARV

• ARV (median comp): $56,132
• List price: $50,000
• Delta: -10.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 43.8%
• Equity multiple: 2.90×
• Total profit: $26,565
• Equity at exit: $7,455

10-year hold

• IRR: 49.9%
• Equity multiple: 5.91×
• Total profit: $68,693
• 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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,155 high
• Mortgage (P&I): −$262
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $539

Break-even live

Break-even rent $472

Max offer price $50,000

Occupancy floor 48%

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 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20830 Westview Ave Unit 2 Ferndale, MI	1.0	1.0	450	$900	$2.00	43d	1	0.83mi
21860 Coolidge Hwy #107 Oak Park, MI	1.0	1.0	700	$1,100	$1.57	24d	1	0.92mi
12800 W 9 Mile Rd Oak Park, MI	1.0–2.0	1.0	775	$1,250	$1.61	24d	1	1.13mi
8775 W Nine Mile Rd Oak Park, MI	1.0	1.0	552	$1,295	$2.35	12d	2	1.23mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	43d	1	1.27mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	1d	1	1.27mi
18461 Washburn St Detroit, MI	1.0	1.0	690	$775	$1.12	43d	1	1.29mi
13600 Kenwood St Oak Park, MI	1.0–2.0	1.0	770	$1,649	$2.14	2d	26	1.47mi

Listing history 21 events

1. 2026-06-18
   days on market $50,000 Active 43 DOM
2. 2026-06-17
   days on market $50,000 Active 42 DOM
3. 2026-06-15
   days on market $50,000 Active 40 DOM
4. 2026-06-13
   days on market $50,000 Active 38 DOM
5. 2026-06-13
   days on market $50,000 Active 37 DOM
6. 2026-06-09
   days on market $50,000 Active 34 DOM
7. 2026-06-08
   days on market $50,000 Active 33 DOM
8. 2026-06-07
   days on market $50,000 Active 32 DOM
9. 2026-06-04
   days on market $50,000 Active 29 DOM
10. 2026-06-03
    days on market $50,000 Active 28 DOM
11. 2026-06-02
    days on market $50,000 Active 27 DOM
12. 2026-06-01
    days on market $50,000 Active 26 DOM
13. 2026-05-31
    days on market $50,000 Active 25 DOM
14. 2026-05-07
    listed $50,000 Active 130-char remark

    Show marketing remark (130 chars)

    2 bedroom brick home with full basement, hardwood floors, and more. Located near schools, shopping public transportation and more.

15. 2026-05-07
    listed $50,000 Active 130-char remark

    Show marketing remark (130 chars)

    2 bedroom brick home with full basement, hardwood floors, and more. Located near schools, shopping public transportation and more.

16. 2026-05-04
    historical $50,000 130-char remark

    Show marketing remark (130 chars)

    2 bedroom brick home with full basement, hardwood floors, and more. Located near schools, shopping public transportation and more.

17. 2026-04-21
    historical
18. 2026-04-21
    historical
19. 2025-11-24
    listed $50,000 Active
20. 2025-11-24
    listed $50,000 Active
21. 2025-11-22
    historical

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,080 · $90/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,856
• − Mortgage interest: −$2,801
• − Property taxes: −$1,080
• − Insurance: −$250
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$1,455
• Taxable income: $6,054
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $5,017/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+0.0% since first listed

8 events — show timeline

• 2026-05-07 Listed $50,000 MiRealSource-MiMLS
• 2026-05-07 Listed $50,000 REALCOMP
• 2026-05-04 Coming Soon $50,000 MiRealSource-MiMLS
• 2026-04-21 Listing Removed — MiRealSource-MiMLS
• 2026-04-21 Listing Removed — REALCOMP
• 2025-11-24 Listed $50,000 MiRealSource-MiMLS
• 2025-11-24 Listed $50,000 REALCOMP
• 2025-11-22 Coming Soon — MiRealSource-MiMLS

Property tax history

+5.3%/yr

Latest (2025): $1,080 · -0.6% YoY. Source: county tax records.