19963 Goulburn St · Detroit, MI 48205

$114,900

3 bd · 1.0 ba · 979 sqft · SingleFamily public records · 1 Days on market

Built 1944 4,792 sqft lot

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Brick bungalow with 3 bedrooms, 1 bathroom, basement and much more.

Key facts

• Hot water tank
• Fully renovated
• Newer furnace

Tags

• FULLY RENOVATED
• NEWER FURNACE
• HOT WATER TANK
• EXTENSIVE INTERIOR RENOVATIONS
• CLEAN UPDATED BASEMENT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer (assumed by typical connection); Natural gas available
• Home design: Residential property; 2-story structure; Built in 1944; Frontage approximately 43 feet
• Construction: Basement foundation
• Exterior features: Brick exterior; Paved street access

Interior

• Kitchen: Kitchen on entry level (12 x 10) with vinyl flooring
• Bedrooms: Bedroom on second level (28 x 10) with carpet; Bedroom on entry level (12 x 10) with carpet; Bedroom on entry level (approx. 9' width) with carpet
• Flooring: Carpet in bedrooms; Vinyl in living room, kitchen, and bathroom
• Bathrooms: 1 full bathroom on entry level (6 x 5) with vinyl flooring
• Heating & cooling: Forced air heating; Natural gas heat source
• Interior features: 6 total rooms; Unfinished basement
• Laundry & utility: Basement present (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).

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 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 $794 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 20y ago; this cycle's ask is 38200% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $300; list at $115k implies a 38200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,900

Questions for the listing agent

1. Built in 1944 — 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: 1.18% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $59,719
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20218 Goulburn St	0.17mi	3/1.0	965 (-1%)	1mo	$12,000	$12	88
19730 Goulburn St	0.18mi	3/1.5	977 (-0%)	1mo	$114,000	$117	88
20541 Barlow St	0.34mi	2/1.0 (-1)	980 (+0%)	2mo	$60,000	$61	77
20020 Pelkey St	0.41mi	3/1.0	1,020 (+4%)	2mo	$75,000	$74	72
20218 Hickory St	0.39mi	3/1.0	930 (-5%)	1mo	$26,000	$28	72
19940 Westphalia St	0.10mi	3/1.0	1,114 (+14%)	0mo	$30,000	$27	72
20543 Waltham St	0.33mi	3/1.0	890 (-9%)	1mo	$50,000	$56	69
20300 Hickory St	0.43mi	3/1.0	918 (-6%)	1mo	$31,000	$34	69
13452 Tacoma St	0.42mi	3/1.0	900 (-8%)	1mo	$69,072	$77	66
20577 Fairport St	0.38mi	3/1.0	1,078 (+10%)	1mo	$65,000	$60	65
21022 Helle Ave	0.62mi	3/1.0	1,120 (+14%)	2mo	$135,000	$121	46
13046 Sherman Ave	0.69mi	4/1.0 (+1)	870 (-11%)	1mo	$120,000	$138	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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-97
• Equity at exit: $17,132

10-year hold

• IRR: 7.8%
• Equity multiple: 1.55×
• Total profit: $17,740
• Equity at exit: $9,934

Cash invested: $32,172 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$603
• Tax from tax record: −$92 /mo · $1,109/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $326

Break-even live

Break-even rent $940

Max offer price $114,900

Occupancy floor 71%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 34 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	0.20mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	0.25mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	0.28mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.40mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.41mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	0.42mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.47mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.50mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.53mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	0.53mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.53mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.54mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.63mi
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	44d	1	0.71mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.72mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	0.73mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.75mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	0.77mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.80mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.80mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.87mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	24d	1	0.87mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.97mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.10mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.12mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	1.17mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	1.22mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	24d	1	1.30mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	1.36mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.39mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.44mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	3d	1	1.46mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	44d	1	1.48mi

Listing history 3 events

1. 2026-06-18
   statuslisting id $114,900 Active 1 DOM
2. 2026-06-17
   remarks 536-char remark
3. 2026-06-17
   listed $114,900 Coming Soon 1 DOM

ⓘ 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: $1,109 · $92/mo
• Projected year-2 tax: $1,439 · $120/mo
• Expected delta: +$330/yr (+$28/mo · 29.8%)

ⓘ 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 · 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: $16,237
• − Mortgage interest: −$6,436
• − Property taxes: −$1,109
• − Insurance: −$574
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$3,343
• Taxable income: $2,177
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $3,391/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

+117.2% since first listed

19 events — show timeline

• 2026-06-17 Coming Soon $114,900 MiRealSource-MiMLS
• 2015-02-10 Sold (MLS) $300 MiRealSource-MiMLS
• 2015-02-10 Sold (MLS) $300 REALCOMP
• 2015-01-07 Pending — MiRealSource-MiMLS
• 2015-01-02 Relisted — MiRealSource-MiMLS
• 2014-11-24 Listing Removed — MiRealSource-MiMLS
• 2014-07-30 Listed $300 MiRealSource-MiMLS
• 2014-07-30 Listed $300 REALCOMP
• 2007-06-22 Sold (MLS) $23,000 REALCOMP
• 2007-06-22 Sold (MLS) $23,000 MiRealSource-MiMLS
• 2007-04-30 Listing Removed — MiRealSource-MiMLS
• 2007-04-30 Listed $35,900 MiRealSource-MiMLS
• 2007-04-27 Listing Removed — MiRealSource-MiMLS
• 2007-02-23 Listed $35,900 MiRealSource-MiMLS
• 2007-02-23 Listed $35,900 REALCOMP
• 2007-02-22 Listing Removed — MiRealSource-MiMLS
• 2007-02-22 Listing Removed — REALCOMP
• 2006-11-27 Listed $52,900 MiRealSource-MiMLS
• 2006-11-24 Listed $52,900 REALCOMP

Property tax history

-4.6%/yr

Latest (2025): $1,109 · +105.6% YoY. Source: county tax records.