20561 Alcoy St · Detroit, MI 48205

$70,000

2 bd · 1.0 ba · 724 sqft · SingleFamily public records · 116 Days on market

Built 1949 5,227 sqft lot $97/sqft · 88% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity!!! * * * Seller May be open to LAND CONTRACT TERMS * * * *

Key facts

• 5,227 sq ft lot
• Built 1949
• Listed 116 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 10.0% 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% 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 $484 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($64k) 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.
• Current owner paid $58k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 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 1949 — 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: 1.73% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.94%
• DSCR: 2.24
• GRM: 4.8

CMA / ARV

• ARV (median comp): $37,301
• List price: $70,000
• Delta: 87.66%
• 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
12832 Sherman Ave	0.37mi	2/1.0	696 (-4%)	2mo	$100,000	$144	74
13475 Coleen Ave	0.19mi	2/1.0	672 (-7%)	6mo	$65,000	$97	74
13075 Sherman Ave	0.35mi	2/1.0	700 (-3%)	6mo	$83,000	$119	73
20210 Hickory St	0.19mi	3/1.0 (+1)	779 (+8%)	6mo	$21,500	$28	68
12426 Sidonie Ave	0.59mi	2/1.0	750 (+4%)	4mo	$131,000	$175	64
19392 Pelkey St	0.72mi	2/1.0	731 (+1%)	2mo	$30,000	$41	63
20520 Dresden St	0.54mi	2/1.5	680 (-6%)	0mo	$33,000	$49	63
20091 Annott St	0.72mi	2/1.0	747 (+3%)	1mo	$12,800	$17	60
12484 Sherman Ave	0.47mi	2/1.0	800 (+10%)	3mo	$72,000	$90	58
20083 Bradford St	0.67mi	2/1.0	648 (-10%)	0mo	$24,000	$37	51
19758 Waltham St	0.57mi	3/1.0 (+1)	790 (+9%)	3mo	$6,000	$8	50
20310 Hamburg St	0.42mi	3/1.0 (+1)	829 (+14%)	7mo	$35,000	$42	46

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: 20.2%
• Equity multiple: 1.80×
• Total profit: $15,750
• Equity at exit: $10,437

10-year hold

• IRR: 27.2%
• Equity multiple: 3.21×
• Total profit: $43,325
• Equity at exit: $6,052

Cash invested: $19,600 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$367
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $456

Break-even live

Break-even rent $630

Max offer price $70,000

Occupancy floor 57%

Sensitivity live

Price	-10% $496	-5% $476	+0% $456	+5% $436	+10% $417
Rent	-10% $361	-5% $409	+0% $456	+5% $504	+10% $552
Rate	-1.0pp $492	-0.5pp $474	base $456	+0.5pp $438	+1.0pp $420

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	13d	1	0.16mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	45d	1	0.51mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	19d	1	1.09mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	45d	1	1.09mi
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	45d	1	1.25mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	45d	1	1.30mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	19d	1	1.48mi

Listing history 12 events

1. 2026-06-01
   days on market $70,000 Active 116 DOM
2. 2026-05-31
   days on market $70,000 Active 115 DOM
3. 2026-02-05
   listed $70,000 Active 265-char remark

   Show marketing remark (265 chars)

   Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity!!! * * * Seller May be open to LAND CONTRACT TERMS * * * *

4. 2026-02-05
   listed $70,000 Active 265-char remark

   Show marketing remark (265 chars)

   Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity!!! * * * Seller May be open to LAND CONTRACT TERMS * * * *

5. 2026-02-01
   historical
6. 2026-02-01
   historical
7. 2025-10-28
   price $70,000
8. 2025-10-28
   price $70,000
9. 2025-04-09
   listed $75,000 Active
10. 2025-04-09
    listed $75,000 Active
11. 2005-03-08
    soldstatus $57,895
12. 1999-12-13
    soldstatus $53,500

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,220 · $102/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: $14,495
• − Mortgage interest: −$3,921
• − Property taxes: −$1,220
• − Insurance: −$350
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$2,036
• Taxable income: $4,648
• Est. tax owed @ 24.0%: −$1,116
• After-tax cash flow: $4,360/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

+30.8% since first listed

10 events — show timeline

• 2026-02-05 Listed $70,000 REALCOMP
• 2026-02-05 Listed $70,000 MiRealSource-MiMLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2025-10-28 Price Changed $70,000 MiRealSource-MiMLS
• 2025-10-28 Price Changed $70,000 REALCOMP
• 2025-04-09 Listed $75,000 REALCOMP
• 2025-04-09 Listed $75,000 MiRealSource-MiMLS
• 2005-03-08 Sold (Public Records) $57,895 Public Records
• 1999-12-13 Sold (Public Records) $53,500 Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,220 · -8.9% YoY. Source: county tax records.