20505 Hamburg St · Detroit, MI 48205

$45,000

3 bd · 1.0 ba · 951 sqft · SingleFamily public records · 49 Days on market

Built 1946 5,663 sqft lot $47/sqft · 9% below area Est $66k · 32% under ↓ 36% 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 +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with strong flip or BRRRR (Buy, Rehab, Rent, Refinance, Repeat) potential! This vacant property sits on a desirable corner lot and features a large fenced-in backyard - offering great upside for resale or long-term rental. Full cosmetic rehab needed, but no known structural issues - ideal for investors ready to add value and build equity. Solid opportunity in a market with continued investor activity. Bring your vision and maximize returns. Property sold AS-IS. Buyer to verify all information and perform their own due diligence.

Key facts

• 5,663 sq ft lot
• Built 1946
• Listed 48 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Entry at ground level
• Construction: Aluminum siding and block construction; Block foundation; Asphalt roof; Built on a 0.13-acre lot (approx. 40 x 128)
• Exterior features: Covered patio/porch; Fenced backyard; Corner lot; Paved road access

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); no central air
• Interior features: Five total rooms; Full, partially finished basement; Ground-level entry
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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; 40 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 41% 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.99% ✓
• Cap rate: 24.02%
• Cash-on-cash: 63.32%
• DSCR: 3.82
• GRM: 2.8

CMA / ARV

• ARV (median comp): $66,006
• List price: $45,000
• Delta: -31.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20218 Goulburn St	0.25mi	3/1.0	965 (+2%)	1mo	$12,000	$12	85
20541 Barlow St	0.07mi	2/1.0 (-1)	980 (+3%)	2mo	$60,000	$61	85
12416 Vernon Ave	0.27mi	3/1.0	944 (-1%)	2mo	$128,000	$136	85
20543 Waltham St	0.13mi	3/1.0	890 (-6%)	1mo	$50,000	$56	83
20218 Hickory St	0.54mi	3/1.0	930 (-2%)	1mo	$26,000	$28	70
20300 Hickory St	0.53mi	3/1.0	918 (-4%)	1mo	$31,000	$34	69
19730 Goulburn St	0.51mi	3/1.5	977 (+3%)	1mo	$114,000	$117	69
20577 Fairport St	0.32mi	3/1.0	1,078 (+13%)	1mo	$65,000	$60	62
11381 Fisher Ave	0.65mi	3/1.0	900 (-5%)	1mo	$52,000	$58	60
20020 Pelkey St	0.63mi	3/1.0	1,020 (+7%)	2mo	$75,000	$74	57
13452 Tacoma St	0.73mi	3/1.0	900 (-5%)	1mo	$69,072	$77	56
13046 Sherman Ave	0.52mi	4/1.0 (+1)	870 (-8%)	1mo	$120,000	$138	56

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: 60.3%
• Equity multiple: 3.61×
• Total profit: $32,903
• Equity at exit: $6,710

10-year hold

• IRR: 64.4%
• Equity multiple: 6.92×
• Total profit: $74,651
• Equity at exit: $3,891

Cash invested: $12,600 (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: 373
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,346 high
• Mortgage (P&I): −$236
• Tax from tax record: −$144 /mo · $1,727/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $665

Break-even live

Break-even rent $505

Max offer price $45,000

Occupancy floor 46%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	0.08mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	0.15mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	0.15mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.33mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	0.37mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	0.48mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	43d	1	0.51mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.53mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	0.56mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.62mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	24d	1	0.68mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	0.68mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.79mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.79mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	0.80mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.86mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.87mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	0.88mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	24d	1	0.95mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.96mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.99mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	1.01mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	43d	1	1.02mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	1.02mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	3d	1	1.12mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	1.12mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	1.12mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.18mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.18mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	24d	1	1.19mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	3d	1	1.20mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	1.22mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	3d	1	1.23mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	1.29mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	43d	1	1.39mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.40mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	1.40mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	24d	1	1.42mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	1.43mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	24d	1	1.45mi

Listing history 25 events

1. 2026-06-18
   days on market $45,000 Active 49 DOM

   Show marketing remark (551 chars)

   Investor special with strong flip or BRRRR (Buy, Rehab, Rent, Refinance, Repeat) potential! This vacant property sits on a desirable corner lot and features a large fenced-in backyard - offering great upside for resale or long-term rental. Full cosmetic rehab needed, but no known structural issues - ideal for investors ready to add value and build equity. Solid opportunity in a market with continued investor activity. Bring your vision and maximize returns. Property sold AS-IS. Buyer to verify all information and perform their own due diligence.

2. 2026-06-17
   price $45,000 Active 48 DOM
3. 2026-06-17
   days on market $50,000 Active 48 DOM
4. 2026-06-15
   days on market $50,000 Active 46 DOM
5. 2026-06-13
   days on market $50,000 Active 44 DOM
6. 2026-06-13
   days on market $50,000 Active 43 DOM
7. 2026-06-09
   days on market $50,000 Active 40 DOM
8. 2026-06-08
   days on market $50,000 Active 39 DOM
9. 2026-06-07
   days on market $50,000 Active 38 DOM
10. 2026-06-04
    days on market $50,000 Active 35 DOM
11. 2026-06-03
    days on market $50,000 Active 34 DOM
12. 2026-06-02
    days on market $50,000 Active 33 DOM
13. 2026-06-01
    days on market $50,000 Active 32 DOM
14. 2026-05-31
    days on market $50,000 Active 31 DOM
15. 2026-05-01
    listed $50,000 Active 551-char remark

    Show marketing remark (551 chars)

    Investor special with strong flip or BRRRR (Buy, Rehab, Rent, Refinance, Repeat) potential! This vacant property sits on a desirable corner lot and features a large fenced-in backyard - offering great upside for resale or long-term rental. Full cosmetic rehab needed, but no known structural issues - ideal for investors ready to add value and build equity. Solid opportunity in a market with continued investor activity. Bring your vision and maximize returns. Property sold AS-IS. Buyer to verify all information and perform their own due diligence.

16. 2026-05-01
    listed $50,000 Active 559-char remark

    Show marketing remark (551 chars)

    Investor special with strong flip or BRRRR (Buy, Rehab, Rent, Refinance, Repeat) potential! This vacant property sits on a desirable corner lot and features a large fenced-in backyard - offering great upside for resale or long-term rental. Full cosmetic rehab needed, but no known structural issues - ideal for investors ready to add value and build equity. Solid opportunity in a market with continued investor activity. Bring your vision and maximize returns. Property sold AS-IS. Buyer to verify all information and perform their own due diligence.

17. 2026-04-29
    historical $50,000 551-char remark

    Show marketing remark (551 chars)

    Investor special with strong flip or BRRRR (Buy, Rehab, Rent, Refinance, Repeat) potential! This vacant property sits on a desirable corner lot and features a large fenced-in backyard - offering great upside for resale or long-term rental. Full cosmetic rehab needed, but no known structural issues - ideal for investors ready to add value and build equity. Solid opportunity in a market with continued investor activity. Bring your vision and maximize returns. Property sold AS-IS. Buyer to verify all information and perform their own due diligence.

18. 2008-03-19
    historical
19. 2008-03-19
    historical
20. 2007-08-10
    listed $69,900
21. 2007-08-10
    listed $69,900
22. 2007-08-10
    historical
23. 2007-08-10
    historical
24. 2007-06-25
    listed $69,900
25. 2007-06-25
    listed $69,900

ⓘ 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: $1,727 · $144/mo
• Projected year-2 tax: $1,727 · $144/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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 14 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: $16,155
• − Mortgage interest: −$2,521
• − Property taxes: −$1,727
• − Insurance: −$225
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$1,309
• Taxable income: $7,788
• Est. tax owed @ 24.0%: −$1,869
• After-tax cash flow: $6,109/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

-35.6% since first listed

13 events — show timeline

• 2026-06-18 Price Changed $45,000 MiRealSource-MiMLS
• 2026-06-17 Price Changed $45,000 REALCOMP
• 2026-05-01 Listed $50,000 MiRealSource-MiMLS
• 2026-05-01 Listed $50,000 REALCOMP
• 2026-04-29 Coming Soon $50,000 MiRealSource-MiMLS
• 2008-03-19 Listing Removed — MiRealSource-MiMLS
• 2008-03-19 Listing Removed — REALCOMP
• 2007-08-10 Listing Removed — MiRealSource-MiMLS
• 2007-08-10 Listing Removed — REALCOMP
• 2007-08-10 Listed $69,900 MiRealSource-MiMLS
• 2007-08-10 Listed $69,900 REALCOMP
• 2007-06-25 Listed $69,900 MiRealSource-MiMLS
• 2007-06-25 Listed $69,900 REALCOMP

Property tax history

+4.8%/yr

Latest (2025): $1,727 · +0.7% YoY. Source: county tax records.