19539 Hickory St · Detroit, MI 48205

$89,900

4 bd · 1.0 ba · 1,250 sqft · SingleFamily public records · 10 Days on market

Built 1927 4,356 sqft lot Est $75k · 20% over

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Why this score? — see what drove the C+ 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
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4 Bedroom, 1.5 Bathroom Bungalow! Home is Move-In Ready with Fresh Paint and New Flooring. Features spacious rooms and a fenced in backyard!

Key facts

• Fenced in backyard
• 4,356 sq ft lot
• 2 garage spots

Tags

• FENCED IN BACKYARD

Property features AI

Exterior

• Parking: Detached driveway; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story; Ground-level entry with steps; Brick exterior
• Construction: Brick construction; Brick/mortar foundation; Asphalt roof; Home warranty included
• Exterior features: Covered patio and porch; Paved road access

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling listed
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 13.1% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 34 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).
• At $1,466/mo this rent would consume 45% of the median local household income ($39k/yr) (locally 2121% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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 + 1.3% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 18y 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.
• Current owner paid $45k; list at $90k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1927 — 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: 1.63% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.30%
• DSCR: 2.08
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $75,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18680 Westphalia St	0.51mi	4/1.0	1,247 (-0%)	0mo	$75,000	$60	75
18652 Goulburn St	0.56mi	4/1.0	1,200 (-4%)	2mo	$23,000	$19	65
13900 Bringard Dr	0.58mi	3/1.5 (-1)	1,242 (-1%)	2mo	$49,000	$39	63
13693 Edmore Dr	0.59mi	3/1.5 (-1)	1,269 (+2%)	0mo	$100,000	$79	63
19940 Westphalia St	0.35mi	3/1.0 (-1)	1,114 (-11%)	0mo	$30,000	$27	60
13830 Eastwood St	0.52mi	3/1.5 (-1)	1,300 (+4%)	6mo	$68,000	$52	57
20264 Waltham St	0.63mi	3/1.5 (-1)	1,192 (-5%)	1mo	$50,000	$42	56
18631 Fairport St	0.54mi	3/1.5 (-1)	1,173 (-6%)	6mo	$9,000	$8	53
14078 Bringard Dr	0.67mi	3/1.5 (-1)	1,110 (-11%)	2mo	$76,000	$68	41
14062 Collingham Dr	0.75mi	3/1.0 (-1)	1,372 (+10%)	4mo	$115,000	$84	40
14051 Edmore Dr	0.71mi	3/1.0 (-1)	1,389 (+11%)	5mo	$89,000	$64	39
20577 Fairport St	0.69mi	3/1.0 (-1)	1,078 (-14%)	1mo	$65,000	$60	39

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: 15.7%
• Equity multiple: 1.62×
• Total profit: $15,510
• Equity at exit: $13,404

10-year hold

• IRR: 23.0%
• Equity multiple: 2.82×
• Total profit: $45,850
• Equity at exit: $7,773

Cash invested: $25,172 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,466 high
• Mortgage (P&I): −$471
• Tax from tax record: −$139 /mo · $1,671/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $510

Break-even live

Break-even rent $820

Max offer price $89,900

Occupancy floor 60%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.17mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.23mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	18d	1	0.23mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.24mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	0.25mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.30mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	17d	1	0.30mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	0.38mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	0.50mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.53mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	11d	1	0.59mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	0.61mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.63mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	0.66mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.72mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.76mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.76mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	0.80mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	44d	1	0.80mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.81mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	0.81mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.82mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	0.84mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	17d	1	0.91mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	1.03mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	44d	1	1.07mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	2d	1	1.24mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.28mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	1.39mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	44d	1	1.41mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.41mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	24d	1	1.44mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	1.48mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	44d	1	1.48mi

Listing history 8 events

1. 2026-06-18
   days on market $89,900 Active 10 DOM
2. 2026-06-17
   days on market $89,900 Active 9 DOM
3. 2026-06-16
   days on market $89,900 Active 8 DOM
4. 2026-06-15
   days on market $89,900 Active 7 DOM
5. 2026-06-13
   days on market $89,900 Active 5 DOM
6. 2026-06-13
   days on market $89,900 Active 4 DOM
7. 2026-06-08
   remarks 149-char remark

   Show marketing remark (149 chars)

   Charming 4 Bedroom, 1.5 Bathroom Bungalow! Home is Move-In Ready with Fresh Paint and New Flooring. Features spacious rooms and a fenced in backyard!

8. 2026-06-08
   listed $89,900 Active 1 DOM

   Show marketing remark (149 chars)

   Charming 4 Bedroom, 1.5 Bathroom Bungalow! Home is Move-In Ready with Fresh Paint and New Flooring. Features spacious rooms and a fenced in backyard!

ⓘ 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: $1,671 · $139/mo
• Projected year-2 tax: $1,671 · $139/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: $17,587
• − Mortgage interest: −$5,036
• − Property taxes: −$1,671
• − Insurance: −$450
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$2,615
• Taxable income: $5,002
• Est. tax owed @ 24.0%: −$1,200
• After-tax cash flow: $4,916/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

+15.3% since first listed

19 events — show timeline

• 2026-06-08 Listed $89,900 MiRealSource-MiMLS
• 2026-06-08 Listed $89,900 REALCOMP
• 2025-12-11 Rental Removed $1,400 PROPERTYWARE
• 2025-12-09 Listed for Rent $1,400 PROPERTYWARE
• 2025-12-03 Rental Removed $1,400 PROPERTYWARE
• 2025-10-25 Listed for Rent $1,400 PROPERTYWARE
• 2022-12-12 Sold (Public Records) $45,000 Public Records
• 2020-07-25 Listing Removed — REALCOMP
• 2020-07-25 Relisted — REALCOMP
• 2020-07-24 Listing Removed — REALCOMP
• 2020-07-24 Listing Removed — MiRealSource-MiMLS
• 2020-07-23 Relisted — REALCOMP
• 2020-05-20 Pending — MiRealSource-MiMLS
• 2020-05-20 Pending — REALCOMP
• 2019-12-20 Listed $39,500 MiRealSource-MiMLS
• 2019-12-20 Listed $39,500 REALCOMP
• 2008-05-06 Sold (MLS) $4,900 REALCOMP
• 2008-03-03 Listed $4,900 REALCOMP
• 2006-07-13 Sold (Public Records) $78,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,671 · +1.3% YoY. Source: county tax records.