19206 Pennington Dr · Detroit, MI 48221

$95,000

3 bd · 1.5 ba · 1,624 sqft · SingleFamily public records · 2 Days on market

Built 1932 4,356 sqft lot Est $159k · 40% under ↓ 21% since listing

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment deal in thriving area of Detroit. 3 bedroom 11/2 bath brick colonial. Spacious living room with naturral fireplace and natural lighting. Formal dining room, den with 1/2 bath. Huge kitchen with nook and ceramic flooring. Generous sized bedrooms with balony off one bedroom. Natural wood flooring throughout some rooms are carpeted. Unfinished basement no garage. Home is currently occupied and will need work. This is a great investment property or homewoner looking for sweat equity. Cash or conventional only. Schedule your showings during the day. Occupants will move no later than 3 days after close. Make your appointment today.

Key facts

• 4,356 sq ft lot
• Built 1932
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 13.9% 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 (+3.4%/yr); 349 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/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 $657 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 + 3.4% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1932 — 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: 1.67% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.18%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $159,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19179 Pennington Dr	0.04mi	3/2.5	1,743 (+7%)	5mo	$170,000	$98	78
19372 Santa Barbara Dr	0.11mi	3/1.5	1,421 (-12%)	2mo	$218,500	$154	73
18674 San Juan Dr	0.29mi	3/2.0	1,538 (-5%)	4mo	$210,000	$137	72
18445 Roselawn St	0.51mi	3/1.0	1,609 (-1%)	5mo	$91,000	$57	68
18037 Pennington Dr	0.69mi	3/1.5	1,672 (+3%)	0mo	$91,000	$54	63
18468 Santa Barbara Dr	0.42mi	4/1.5 (+1)	1,738 (+7%)	5mo	$150,000	$86	60
18947 Cherrylawn St	0.44mi	3/1.0	1,460 (-10%)	1mo	$110,000	$75	59
19498 Santa Rosa Dr	0.34mi	3/3.0	1,852 (+14%)	2mo	$185,580	$100	53
19703 Santa Barbara Dr	0.29mi	2/1.0 (-1)	1,400 (-14%)	5mo	$110,000	$79	52
18438 Prairie St	0.46mi	3/2.0	1,380 (-15%)	6mo	$220,000	$159	46
18461 Wisconsin St	0.66mi	4/1.5 (+1)	1,498 (-8%)	7mo	$226,000	$151	46
19965 Greenlawn St	0.51mi	4/1.0 (+1)	1,850 (+14%)	6mo	$100,000	$54	41

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.89×
• Total profit: $23,715
• Equity at exit: $14,165

10-year hold

• IRR: 30.0%
• Equity multiple: 3.75×
• Total profit: $73,089
• Equity at exit: $8,214

Cash invested: $26,600 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,591 high
• Mortgage (P&I): −$498
• Tax from tax record: −$116 /mo · $1,395/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $603

Break-even live

Break-even rent $828

Max offer price $95,000

Occupancy floor 57%

Sensitivity live

Price	-10% $656	-5% $629	+0% $603	+5% $576	+10% $549
Rent	-10% $477	-5% $540	+0% $603	+5% $665	+10% $728
Rate	-1.0pp $650	-0.5pp $627	base $603	+0.5pp $578	+1.0pp $553

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19031 Livernois Unit F Detroit, MI	2.0	2.0	1100	$2,135	$1.94	45d	1	0.35mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	6d	1	0.60mi
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	18d	1	0.61mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	0.66mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	18d	1	0.72mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	25d	1	0.79mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	45d	1	0.79mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.84mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	25d	1	0.85mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	45d	1	0.86mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	45d	1	0.90mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	45d	1	1.04mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	25d	1	1.05mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	21d	1	1.05mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	19d	1	1.07mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	6d	1	1.08mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	18d	1	1.22mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	45d	1	1.23mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	45d	1	1.27mi
2554 Woodstock Dr Highland Park, MI	3.0	1.5	1929	$2,250	$1.17	16d	1	1.32mi
695 Livernois St Unit 1 Ferndale, MI	2.0	2.0	1500	$2,750	$1.83	13d	1	1.33mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	21d	1	1.35mi
351 Edgewood Pl Unit 2 Ferndale, MI	3.0	2.0	1600	$2,200	$1.38	19d	1	1.36mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	18d	1	1.37mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.38mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	1.39mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	18d	1	1.44mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	45d	1	1.46mi

Listing history 7 events

1. 2024-12-17
   status Pending
2. 2024-04-20
   status Pending 650-char remark

   Show marketing remark (650 chars)

   Great investment deal in thriving area of Detroit. 3 bedroom 11/2 bath brick colonial. Spacious living room with naturral fireplace and natural lighting. Formal dining room, den with 1/2 bath. Huge kitchen with nook and ceramic flooring. Generous sized bedrooms with balony off one bedroom. Natural wood flooring throughout some rooms are carpeted. Unfinished basement no garage. Home is currently occupied and will need work. This is a great investment property or homewoner looking for sweat equity. Cash or conventional only. Schedule your showings during the day. Occupants will move no later than 3 days after close. Make your appointment today.

3. 2024-04-20
   status Pending

   Show marketing remark (650 chars)

   Great investment deal in thriving area of Detroit. 3 bedroom 11/2 bath brick colonial. Spacious living room with naturral fireplace and natural lighting. Formal dining room, den with 1/2 bath. Huge kitchen with nook and ceramic flooring. Generous sized bedrooms with balony off one bedroom. Natural wood flooring throughout some rooms are carpeted. Unfinished basement no garage. Home is currently occupied and will need work. This is a great investment property or homewoner looking for sweat equity. Cash or conventional only. Schedule your showings during the day. Occupants will move no later than 3 days after close. Make your appointment today.

4. 2024-04-18
   listed $95,000 Active

   Show marketing remark (650 chars)

   Great investment deal in thriving area of Detroit. 3 bedroom 11/2 bath brick colonial. Spacious living room with naturral fireplace and natural lighting. Formal dining room, den with 1/2 bath. Huge kitchen with nook and ceramic flooring. Generous sized bedrooms with balony off one bedroom. Natural wood flooring throughout some rooms are carpeted. Unfinished basement no garage. Home is currently occupied and will need work. This is a great investment property or homewoner looking for sweat equity. Cash or conventional only. Schedule your showings during the day. Occupants will move no later than 3 days after close. Make your appointment today.

5. 2024-04-18
   listed $95,000 Active 650-char remark

   Show marketing remark (650 chars)

   Great investment deal in thriving area of Detroit. 3 bedroom 11/2 bath brick colonial. Spacious living room with naturral fireplace and natural lighting. Formal dining room, den with 1/2 bath. Huge kitchen with nook and ceramic flooring. Generous sized bedrooms with balony off one bedroom. Natural wood flooring throughout some rooms are carpeted. Unfinished basement no garage. Home is currently occupied and will need work. This is a great investment property or homewoner looking for sweat equity. Cash or conventional only. Schedule your showings during the day. Occupants will move no later than 3 days after close. Make your appointment today.

6. 2002-07-08
   soldstatus $160,000
7. 2002-07-01
   soldstatus $121,000

ⓘ 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: $1,395 · $116/mo
• Projected year-2 tax: $1,429 · $119/mo
• Expected delta: +$34/yr (+$3/mo · 2.5%)

ⓘ 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: $19,087
• − Mortgage interest: −$5,321
• − Property taxes: −$1,395
• − Insurance: −$475
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$2,764
• Taxable income: $6,079
• Est. tax owed @ 24.0%: −$1,459
• After-tax cash flow: $5,772/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

-21.5% since first listed

7 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-04-20 Pending — MiRealSource-MiMLS
• 2024-04-20 Pending — REALCOMP
• 2024-04-18 Listed $95,000 MiRealSource-MiMLS
• 2024-04-18 Listed $95,000 REALCOMP
• 2002-07-08 Sold (Public Records) $160,000 Public Records
• 2002-07-01 Sold (Public Records) $121,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $1,395 · -54.0% YoY. Source: county tax records.