19974 Waltham St · Detroit, MI 48205

$10,000

2 bd · 1.0 ba · 888 sqft · SingleFamily public records · 127 Days on market

Built 1942 4,792 sqft lot ↓ 29% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

Key facts

• 4,792 sq ft lot
• Built 1942
• Listed 127 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• Cap rate 118.4% 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 39% 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 $69 of loan paydown is wiped out by about $300 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $10k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1k; list at $10k implies a 900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $8,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 12.70% ✓
• Cap rate: 118.41%
• Cash-on-cash: 400.41%
• DSCR: 18.82
• GRM: 0.7

CMA / ARV

• ARV (on-the-fly): $65,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20543 Waltham St	0.31mi	3/1.0 (+1)	890 (+0%)	1mo	$50,000	$56	80
20218 Goulburn St	0.17mi	3/1.0 (+1)	965 (+9%)	1mo	$12,000	$12	72
13452 Tacoma St	0.45mi	3/1.0 (+1)	900 (+1%)	1mo	$69,072	$77	70
12753 Georgiana Ave	0.51mi	3/1.0 (+1)	888 (0%)	2mo	$120,000	$135	70
20300 Hickory St	0.44mi	3/1.0 (+1)	918 (+3%)	1mo	$31,000	$34	68
20218 Hickory St	0.41mi	3/1.0 (+1)	930 (+5%)	1mo	$26,000	$28	67
20541 Barlow St	0.32mi	2/1.0	980 (+10%)	2mo	$60,000	$61	66
19730 Goulburn St	0.20mi	3/1.5 (+1)	977 (+10%)	1mo	$114,000	$117	66
12416 Vernon Ave	0.54mi	3/1.0 (+1)	944 (+6%)	2mo	$128,000	$136	58
19161 Hamburg St	0.56mi	3/1.0 (+1)	960 (+8%)	2mo	$116,000	$121	54
20020 Pelkey St	0.44mi	3/1.0 (+1)	1,020 (+15%)	2mo	$75,000	$74	48
19170 Schoenherr St	0.73mi	3/1.0 (+1)	797 (-10%)	0mo	$25,500	$32	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: —
• Equity multiple: 20.93×
• Total profit: $55,805
• Equity at exit: $1,491

10-year hold

• IRR: —
• Equity multiple: 42.77×
• Total profit: $116,964
• Equity at exit: $865

Cash invested: $2,800 (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: 0.7×

Monthly cashflow live

• Estimated rent: $1,270 high
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $150/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $934

Break-even live

Break-even rent $87

Max offer price $10,000

Occupancy floor 21%

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	0.11mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	0.20mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	0.29mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	0.33mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.41mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	0.44mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.44mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	0.48mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.49mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.61mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.61mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	43d	1	0.70mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	0.70mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.71mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.71mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.71mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.79mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	24d	1	0.81mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.81mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	21d	1	0.88mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.88mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.89mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	1.04mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	1.05mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.17mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	17d	1	1.17mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	24d	1	1.21mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	1.23mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	1.26mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	43d	1	1.27mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	17d	1	1.28mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.33mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.37mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	2d	1	1.37mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	1.41mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	24d	1	1.44mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	3d	1	1.46mi
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	43d	1	1.46mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	2d	1	1.48mi

Listing history 29 events

1. 2025-12-26
   status Pending 107-char remark

   Show marketing remark (107 chars)

   Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

2. 2025-12-26
   status Pending

   Show marketing remark (107 chars)

   Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

3. 2025-12-18
   price $10,000 107-char remark

   Show marketing remark (107 chars)

   Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

4. 2025-12-17
   price $10,000
5. 2025-11-26
   price $7,500 107-char remark

   Show marketing remark (107 chars)

   Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

6. 2025-11-25
   price $7,500
7. 2025-09-19
   price $10,000 107-char remark

   Show marketing remark (107 chars)

   Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

8. 2025-09-18
   price $10,000
9. 2025-09-06
   price $15,000 107-char remark

   Show marketing remark (107 chars)

   Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

10. 2025-09-05
    price $15,000
11. 2025-08-21
    listed $20,000 Active

    Show marketing remark (107 chars)

    Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

12. 2025-08-21
    listed $20,000 Active 107-char remark

    Show marketing remark (107 chars)

    Handy man special! Home is totally gutted & ready for you to put back together to your liking. BATVAI

13. 2011-02-28
    soldstatus $1,000 181-char remark

    Show marketing remark (181 chars)

    ALL BRICK BUNGALOW WITH LIVING ROOM, DINING ROOM AND BASEMENT. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. CASH ONLY.

14. 2011-02-28
    soldstatus $1,000

    Show marketing remark (181 chars)

    ALL BRICK BUNGALOW WITH LIVING ROOM, DINING ROOM AND BASEMENT. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. CASH ONLY.

15. 2011-02-16
    historical
16. 2010-11-23
    listed $1,700 181-char remark

    Show marketing remark (181 chars)

    ALL BRICK BUNGALOW WITH LIVING ROOM, DINING ROOM AND BASEMENT. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. CASH ONLY.

17. 2010-11-23
    listed $1,700

    Show marketing remark (181 chars)

    ALL BRICK BUNGALOW WITH LIVING ROOM, DINING ROOM AND BASEMENT. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. CASH ONLY.

18. 2009-09-10
    historical
19. 2008-06-10
    listed $7,900
20. 2005-09-28
    soldstatus $61,900
21. 2003-10-21
    historical
22. 2003-06-17
    listed $68,000
23. 2002-08-19
    soldstatus $68,000
24. 2002-05-28
    soldstatus $35,500
25. 2002-05-17
    soldstatus $35,500
26. 2001-11-02
    listed $33,000
27. 2000-08-29
    soldstatus $46,260
28. 1997-07-10
    soldstatus $42,000
29. 1996-12-30
    soldstatus $14,000

ⓘ 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 · 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: $15,241
• − Mortgage interest: −$560
• − Property taxes: −$150
• − Insurance: −$50
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$291
• Taxable income: $11,752
• Est. tax owed @ 24.0%: −$2,820
• After-tax cash flow: $8,391/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

-28.6% since first listed

29 events — show timeline

• 2025-12-26 Pending — MiRealSource-MiMLS
• 2025-12-26 Pending — REALCOMP
• 2025-12-18 Price Changed $10,000 MiRealSource-MiMLS
• 2025-12-17 Price Changed $10,000 REALCOMP
• 2025-11-26 Price Changed $7,500 MiRealSource-MiMLS
• 2025-11-25 Price Changed $7,500 REALCOMP
• 2025-09-19 Price Changed $10,000 MiRealSource-MiMLS
• 2025-09-18 Price Changed $10,000 REALCOMP
• 2025-09-06 Price Changed $15,000 MiRealSource-MiMLS
• 2025-09-05 Price Changed $15,000 REALCOMP
• 2025-08-21 Listed $20,000 REALCOMP
• 2025-08-21 Listed $20,000 MiRealSource-MiMLS
• 2011-02-28 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2011-02-28 Sold (MLS) $1,000 REALCOMP
• 2011-02-16 Listing Removed — MiRealSource-MiMLS
• 2010-11-23 Listed $1,700 MiRealSource-MiMLS
• 2010-11-23 Listed $1,700 REALCOMP
• 2009-09-10 Listing Removed — REALCOMP
• 2008-06-10 Listed $7,900 REALCOMP
• 2005-09-28 Sold (Public Records) $61,900 Public Records
• 2003-10-21 Listing Removed — REALCOMP
• 2003-06-17 Listed $68,000 REALCOMP
• 2002-08-19 Sold (Public Records) $68,000 Public Records
• 2002-05-28 Sold (Public Records) $35,500 Public Records
• 2002-05-17 Sold (MLS) $35,500 REALCOMP
• 2001-11-02 Listed $33,000 REALCOMP
• 2000-08-29 Sold (Public Records) $46,260 Public Records
• 1997-07-10 Sold (Public Records) $42,000 Public Records
• 1996-12-30 Sold (Public Records) $14,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,475 · -18.4% YoY. Source: county tax records.