20553 Pelkey St · Detroit, MI 48205

$94,500

4 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 12 Days on market

Built 1941 5,227 sqft lot Est $80k · 18% 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

Nice 4 Bedroom, Tri-level home with detached garage. Home is tenant occupied, please do not walk property without an appointment.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1941

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ground-level entry with steps
• Construction: Brick construction; Slab foundation; About 1,200 above-grade finished square feet
• Exterior features: Paved road access; Lot roughly 40 x 126 (0.12 acres)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Six total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Cap rate 12.7% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 31 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 45% 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 $653 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 + 1.3% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,500

Questions for the listing agent

1. Built in 1941 — 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: 1.55% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.73%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $79,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13308 Couwlier Ave	0.49mi	4/1.5	1,183 (+1%)	1mo	$108,500	$92	73
20264 Waltham St	0.42mi	3/1.5 (-1)	1,192 (+1%)	1mo	$50,000	$42	70
13693 Edmore Dr	0.21mi	3/1.5 (-1)	1,269 (+8%)	0mo	$100,000	$79	70
20577 Fairport St	0.25mi	3/1.0 (-1)	1,078 (-8%)	1mo	$65,000	$60	68
13900 Bringard Dr	0.36mi	3/1.5 (-1)	1,242 (+6%)	2mo	$49,000	$39	65
19940 Westphalia St	0.46mi	3/1.0 (-1)	1,114 (-5%)	0mo	$30,000	$27	64
14078 Bringard Dr	0.48mi	3/1.5 (-1)	1,110 (-6%)	2mo	$76,000	$68	60
20020 Pelkey St	0.28mi	3/1.0 (-1)	1,020 (-13%)	2mo	$75,000	$74	58
21022 Helle Ave	0.64mi	3/1.0 (-1)	1,120 (-5%)	2mo	$135,000	$121	56
14068 Carlisle St	0.43mi	3/1.0 (-1)	1,020 (-13%)	2mo	$55,000	$54	51
14076 Rossini Dr	0.59mi	3/1.0 (-1)	1,055 (-10%)	0mo	$90,000	$85	50
19953 Regent Dr	0.67mi	3/1.0 (-1)	1,038 (-12%)	2mo	$55,000	$53	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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.54×
• Total profit: $14,214
• Equity at exit: $14,090

10-year hold

• IRR: 21.2%
• Equity multiple: 2.66×
• Total profit: $43,986
• Equity at exit: $8,171

Cash invested: $26,460 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,461 high
• Mortgage (P&I): −$496
• Tax est. 1.5%: −$118 /mo · $1,418/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $501

Break-even live

Break-even rent $827

Max offer price $94,500

Occupancy floor 61%

Sensitivity live

Price	-10% $566	-5% $534	+0% $501	+5% $469	+10% $436
Rent	-10% $386	-5% $443	+0% $501	+5% $559	+10% $617
Rate	-1.0pp $549	-0.5pp $525	base $501	+0.5pp $477	+1.0pp $452

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Rent comps 31 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	0.11mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	0.12mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	0.19mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.28mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	0.34mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	0.36mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.42mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.42mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	44d	1	0.49mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.54mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	25d	1	0.56mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.57mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	18d	1	0.61mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.71mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	18d	1	0.74mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	18d	1	0.79mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.80mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.85mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	18d	1	0.86mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.89mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	0.99mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.00mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.04mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.06mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	1.15mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.15mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	1.19mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	25d	1	1.19mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	44d	1	1.30mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	25d	1	1.37mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	1.43mi

Listing history 9 events

1. 2026-06-21
   days on market $94,500 Active 12 DOM
2. 2026-06-18
   days on market $94,500 Active 9 DOM
3. 2026-06-17
   days on market $94,500 Active 8 DOM
4. 2026-06-16
   days on market $94,500 Active 7 DOM
5. 2026-06-15
   days on market $94,500 Active 6 DOM
6. 2026-06-13
   days on market $94,500 Active 4 DOM
7. 2026-06-13
   days on market $94,500 Active 3 DOM
8. 2026-06-10
   remarks 129-char remark
9. 2026-06-10
   listed $94,500 Active 1 DOM

ⓘ 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 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: $17,533
• − Mortgage interest: −$5,293
• − Property taxes: −$1,418
• − Insurance: −$472
• − Repairs & maintenance: −$1,403
• − Management: −$1,403
• − Depreciation: −$2,749
• Taxable income: $4,795
• Est. tax owed @ 24.0%: −$1,151
• After-tax cash flow: $4,863/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

+845.0% since first listed

18 events — show timeline

• 2026-06-09 Listed $94,500 REALCOMP
• 2026-06-09 Listed $94,500 MiRealSource-MiMLS
• 2020-02-20 Sold (Public Records) $146,250 Public Records
• 2007-12-27 Sold (Public Records) $72,000 Public Records
• 2007-09-17 Sold (MLS) $20,000 REALCOMP
• 2007-09-17 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2007-08-13 Listing Removed — MiRealSource-MiMLS
• 2007-07-02 Listed $24,900 REALCOMP
• 2007-06-28 Listed $24,900 MiRealSource-MiMLS
• 2007-02-25 Listing Removed — MiRealSource-MiMLS
• 2006-10-13 Listing Removed — REALCOMP
• 2006-10-11 Listed $65,000 MiRealSource-MiMLS
• 2006-05-25 Listed $65,000 REALCOMP
• 2004-10-14 Sold (Public Records) $79,000 Public Records
• 2004-08-31 Sold (MLS) $79,000 MiRealSource-MiMLS
• 2004-08-23 Listing Removed — MiRealSource-MiMLS
• 2004-02-16 Listed $69,900 MiRealSource-MiMLS
• 1991-03-08 Sold (Public Records) $10,000 Public Records

Property tax history

+12.0%/yr

Latest (2025): $4,935 · +73.8% YoY. Source: county tax records.