20543 Waltham St · Detroit, MI 48205

$50,000

3 bd · 1.0 ba · 890 sqft · SingleFamily public records · 55 Days on market

Built 1942 4,792 sqft lot Est $66k · 24% under

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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 +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently tenant occupied, providing immediate rental income. This is an Agency Tenant – Rent $1250/month, owner pays water, tenant pays gas & electric. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1942

🏷️ Possibly a rental listed for sale. The $50,000 price doesn't fit this home's estimated sale value (~$65,860) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $688 ($8k/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 22.8% 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 (+1.3%/yr); 373 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $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 + 1.3% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 20y 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 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 55 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: 2.70% ✓
• Cap rate: 22.81%
• Cash-on-cash: 58.98%
• DSCR: 3.62
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $65,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20543 Waltham St	0.00mi	3/1.0	890 (0%)	1mo	$50,000	$56	99
12753 Georgiana Ave	0.22mi	3/1.0	888 (-0%)	2mo	$120,000	$135	88
12416 Vernon Ave	0.24mi	3/1.0	944 (+6%)	2mo	$128,000	$136	77
20218 Goulburn St	0.18mi	3/1.0	965 (+8%)	1mo	$12,000	$12	76
20300 Hickory St	0.41mi	3/1.0	918 (+3%)	1mo	$31,000	$34	75
20541 Barlow St	0.06mi	2/1.0 (-1)	980 (+10%)	2mo	$60,000	$61	74
20218 Hickory St	0.43mi	3/1.0	930 (+4%)	1mo	$26,000	$28	71
13046 Sherman Ave	0.42mi	4/1.0 (+1)	870 (-2%)	1mo	$120,000	$138	71
13452 Tacoma St	0.66mi	3/1.0	900 (+1%)	1mo	$69,072	$77	66
11381 Fisher Ave	0.75mi	3/1.0	900 (+1%)	1mo	$52,000	$58	62
19730 Goulburn St	0.51mi	3/1.5	977 (+10%)	1mo	$114,000	$117	57
20020 Pelkey St	0.54mi	3/1.0	1,020 (+15%)	2mo	$75,000	$74	49

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: 55.7%
• Equity multiple: 3.40×
• Total profit: $33,537
• Equity at exit: $7,455

10-year hold

• IRR: 60.1%
• Equity multiple: 6.50×
• Total profit: $76,954
• 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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,349 high
• Mortgage (P&I): −$262
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $688

Break-even live

Break-even rent $478

Max offer price $50,000

Occupancy floor 44%

Sensitivity live

Price	-10% $716	-5% $702	+0% $688	+5% $674	+10% $660
Rent	-10% $582	-5% $635	+0% $688	+5% $741	+10% $795
Rate	-1.0pp $713	-0.5pp $701	base $688	+0.5pp $675	+1.0pp $662

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 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.09mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.11mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.21mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	0.21mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	0.25mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.42mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	0.43mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.44mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	0.47mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.53mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	0.56mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	25d	1	0.57mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	0.87mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.88mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.88mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.89mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.90mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	0.90mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.90mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.93mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	25d	1	0.98mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	1.05mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.07mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.08mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	1.09mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	3d	1	1.15mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	1.16mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.16mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	4d	1	1.21mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	25d	1	1.25mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	25d	1	1.27mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	3d	1	1.28mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	44d	1	1.31mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	1.33mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.35mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	25d	1	1.41mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	44d	1	1.46mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	1.50mi

Listing history 31 events

1. 2026-04-16
   status Pending 567-char remark

   Show marketing remark (567 chars)

   GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently tenant occupied, providing immediate rental income. This is an Agency Tenant – Rent $1250/month, owner pays water, tenant pays gas & electric. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

2. 2026-04-16
   status Pending

   Show marketing remark (567 chars)

   GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently tenant occupied, providing immediate rental income. This is an Agency Tenant – Rent $1250/month, owner pays water, tenant pays gas & electric. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

3. 2026-02-20
   listed $50,000 Active

   Show marketing remark (567 chars)

   GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently tenant occupied, providing immediate rental income. This is an Agency Tenant – Rent $1250/month, owner pays water, tenant pays gas & electric. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

4. 2026-02-20
   listed $50,000 Active 567-char remark

   Show marketing remark (567 chars)

   GREAT INVESTMENT OPPORTUNITY. This 3-bedroom brick home offers excellent potential and is a solid addition to any investment portfolio. With strong bones and plenty of opportunity to add value, this property is ready for its next owner. This property is currently tenant occupied, providing immediate rental income. This is an Agency Tenant – Rent $1250/month, owner pays water, tenant pays gas & electric. It is being sold site unseen and will be contingent upon a private inspection. Don't miss out on this promising investment opportunity!

5. 2025-11-17
   historical
6. 2025-11-17
   historical
7. 2024-10-26
   listed $65,000 Active
8. 2024-10-26
   listed $65,000 Active
9. 2024-10-11
   historical
10. 2024-10-11
    historical
11. 2024-02-16
    listed $65,000 Active
12. 2024-02-16
    listed $65,000 Active
13. 2019-12-05
    soldstatus $45,000
14. 2008-01-18
    soldstatus $4,800
15. 2008-01-18
    soldstatus $4,800
16. 2008-01-09
    historical
17. 2007-12-04
    listed $5,000
18. 2007-12-04
    listed $5,000
19. 2007-08-01
    historical
20. 2007-08-01
    historical
21. 2007-05-26
    listed $65,000
22. 2007-05-26
    listed $65,000
23. 2007-04-11
    historical
24. 2007-04-11
    historical
25. 2007-02-12
    listed $79,000
26. 2007-02-11
    listed $79,000
27. 2006-08-07
    soldstatus $85,000
28. 2006-03-21
    historical
29. 2006-03-21
    historical
30. 2006-02-14
    listed $36,000
31. 2006-02-08
    listed $36,000

ⓘ 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: $1,137 · $95/mo
• Projected year-2 tax: $1,137 · $95/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 · 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: $16,191
• − Mortgage interest: −$2,801
• − Property taxes: −$1,137
• − Insurance: −$250
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$1,455
• Taxable income: $7,959
• Est. tax owed @ 24.0%: −$1,910
• After-tax cash flow: $6,348/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

+38.9% since first listed

31 events — show timeline

• 2026-04-16 Pending — MiRealSource-MiMLS
• 2026-04-16 Pending — REALCOMP
• 2026-02-20 Listed $50,000 REALCOMP
• 2026-02-20 Listed $50,000 MiRealSource-MiMLS
• 2025-11-17 Listing Removed — MiRealSource-MiMLS
• 2025-11-17 Listing Removed — REALCOMP
• 2024-10-26 Listed $65,000 MiRealSource-MiMLS
• 2024-10-26 Listed $65,000 REALCOMP
• 2024-10-11 Listing Removed — MiRealSource-MiMLS
• 2024-10-11 Listing Removed — REALCOMP
• 2024-02-16 Listed $65,000 MiRealSource-MiMLS
• 2024-02-16 Listed $65,000 REALCOMP
• 2019-12-05 Sold (Public Records) $45,000 Public Records
• 2008-01-18 Sold (MLS) $4,800 MiRealSource-MiMLS
• 2008-01-18 Sold (MLS) $4,800 REALCOMP
• 2008-01-09 Listing Removed — MiRealSource-MiMLS
• 2007-12-04 Listed $5,000 MiRealSource-MiMLS
• 2007-12-04 Listed $5,000 REALCOMP
• 2007-08-01 Listing Removed — REALCOMP
• 2007-08-01 Listing Removed — MiRealSource-MiMLS
• 2007-05-26 Listed $65,000 REALCOMP
• 2007-05-26 Listed $65,000 MiRealSource-MiMLS
• 2007-04-11 Listing Removed — MiRealSource-MiMLS
• 2007-04-11 Listing Removed — REALCOMP
• 2007-02-12 Listed $79,000 MiRealSource-MiMLS
• 2007-02-11 Listed $79,000 REALCOMP
• 2006-08-07 Sold (Public Records) $85,000 Public Records
• 2006-03-21 Listing Removed — REALCOMP
• 2006-03-21 Listing Removed — MiRealSource-MiMLS
• 2006-02-14 Listed $36,000 REALCOMP
• 2006-02-08 Listed $36,000 MiRealSource-MiMLS

Property tax history

-2.5%/yr

Latest (2025): $1,137 · -8.6% YoY. Source: county tax records.