20022 Hanna St · Detroit, MI 48203

$77,600

2 bd · 1.0 ba · 758 sqft · SingleFamily public records · 52 Days on market

Built 1941 3,920 sqft lot $102/sqft · 127% above area Est $64k · 22% 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 +2.5/5.0
• 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

Welcome home to this charming all-brick ranch offering comfort, character, and extra living space! This 2-bedroom, 1-bath home features a bright and inviting living room filled with natural light from abundant windows and highlighted by beautiful wood flooring. The kitchen is both functional and stylish, complete with a tile backsplash, ample cabinetry, and a cozy eat-in. The full bath includes a classic pedestal sink and a tub/shower combination. Downstairs, the finished basement provides additional versatility with a non-conforming bedroom, convenient half bath, and plenty of space for a recreation room, home office, or guest area. Outside, enjoy a fully fenced backyard—ideal for pets, entertaining, or relaxing—along with a detached 1-car garage for added storage and convenience. Close to I-75 & I-696 for an easy commute. Multiple downtown areas, shopping and dining nearby. Don’t miss this great opportunity to own a well-maintained home with many desirable features! Schedule your private showing today.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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: 216 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 40% of the median local income ($38k/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 $537 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 + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 12y 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 $14k; list at $78k implies a 475% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,272 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 14.20%
• Cash-on-cash: 28.23%
• DSCR: 2.26
• GRM: 5.0

CMA / ARV

• ARV (median comp): $63,506
• List price: $77,600
• Delta: 22.19%
• 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
1443 E George Ave	0.50mi	2/1.0	760 (+0%)	8mo	$159,300	$210	70
19210 Cameron St	0.56mi	2/1.0	750 (-1%)	5mo	$52,500	$70	68
1450 E Hayes Ave	0.53mi	2/1.0	779 (+3%)	10mo	$145,000	$186	62
1721 E Milton Ave E	0.64mi	2/1.0	732 (-3%)	5mo	$125,000	$171	60
1771 E George Ave	0.56mi	2/1.0	724 (-4%)	8mo	$93,000	$128	60
19426 Omira St	0.46mi	2/1.0	667 (-12%)	4mo	$40,000	$60	55
1474 E Milton Ave	0.58mi	2/1.0	682 (-10%)	2mo	$155,000	$227	55
19235 Fleming St	0.70mi	2/1.0	720 (-5%)	6mo	$57,000	$79	54
19308 Lumpkin St	0.65mi	3/1.0 (+1)	747 (-2%)	10mo	$38,000	$51	54
1450 E Bernhard Ave	0.63mi	2/1.0	800 (+6%)	11mo	$136,000	$170	52
1140 E Elza St	0.69mi	2/1.0	809 (+7%)	6mo	$95,100	$118	52
1403 E Bernhard Ave	0.66mi	2/1.0	695 (-8%)	8mo	$139,600	$201	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 1.92×
• Total profit: $19,978
• Equity at exit: $11,570

10-year hold

• IRR: 30.4%
• Equity multiple: 3.73×
• Total profit: $59,319
• Equity at exit: $6,709

Cash invested: $21,728 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$407
• Tax from tax record: −$68 /mo · $815/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $511

Break-even live

Break-even rent $642

Max offer price $77,600

Occupancy floor 55%

Sensitivity live

Price	-10% $555	-5% $533	+0% $511	+5% $489	+10% $467
Rent	-10% $409	-5% $460	+0% $511	+5% $562	+10% $613
Rate	-1.0pp $550	-0.5pp $531	base $511	+0.5pp $491	+1.0pp $471

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: $19,400
• Closing costs: $2,328
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	0.57mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.59mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	0.64mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	0.64mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	0.76mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	2d	1	0.77mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.78mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	0.81mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.82mi
27 E Milton Ave Hazel Park, MI	1.0	1.0	568	$1,050	$1.85	15d	1	0.86mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	0.86mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	0.92mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	24d	1	0.93mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.98mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.99mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.02mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	21d	1	1.13mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.18mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	24d	1	1.18mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	1.20mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.20mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.20mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	1.21mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.25mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.26mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.31mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	24d	1	1.45mi
3974 Berkshire Ave Warren, MI	1.0	1.0	900	$1,500	$1.67	3d	1	1.46mi
1291 W State Fair Ave Detroit, MI	1.0–2.0	1.0	700	$950	$1.36	13d	2	1.49mi

Listing history 26 events

1. 2026-06-08
   statusdays on market $77,600 Pending 52 DOM
2. 2026-06-07
   days on market $77,600 Active 51 DOM
3. 2026-06-04
   days on market $77,600 Active 48 DOM
4. 2026-06-03
   days on market $77,600 Active 47 DOM
5. 2026-06-02
   days on market $77,600 Active 46 DOM
6. 2026-06-01
   days on market $77,600 Active 45 DOM
7. 2026-05-31
   days on market $77,600 Active 44 DOM
8. 2026-04-18
   listed $80,000 Active 1044-char remark

   Show marketing remark (1029 chars)

   Welcome home to this charming all-brick ranch offering comfort, character, and extra living space! This 2-bedroom, 1-bath home features a bright and inviting living room filled with natural light from abundant windows and highlighted by beautiful wood flooring. The kitchen is both functional and stylish, complete with a tile backsplash, ample cabinetry, and a cozy eat-in. The full bath includes a classic pedestal sink and a tub/shower combination. Downstairs, the finished basement provides additional versatility with a non-conforming bedroom, convenient half bath, and plenty of space for a recreation room, home office, or guest area. Outside, enjoy a fully fenced backyard - ideal for pets, entertaining, or relaxing - along with a detached 1-car garage for added storage and convenience. Close to I-75 & I-696 for an easy commute. Multiple downtown areas, shopping and dining nearby. Don't miss this great opportunity to own a well-maintained home with many desirable features! Schedule your private showing today.

9. 2026-04-18
   listed $80,000 Active 1029-char remark

   Show marketing remark (1029 chars)

   Welcome home to this charming all-brick ranch offering comfort, character, and extra living space! This 2-bedroom, 1-bath home features a bright and inviting living room filled with natural light from abundant windows and highlighted by beautiful wood flooring. The kitchen is both functional and stylish, complete with a tile backsplash, ample cabinetry, and a cozy eat-in. The full bath includes a classic pedestal sink and a tub/shower combination. Downstairs, the finished basement provides additional versatility with a non-conforming bedroom, convenient half bath, and plenty of space for a recreation room, home office, or guest area. Outside, enjoy a fully fenced backyard - ideal for pets, entertaining, or relaxing - along with a detached 1-car garage for added storage and convenience. Close to I-75 & I-696 for an easy commute. Multiple downtown areas, shopping and dining nearby. Don't miss this great opportunity to own a well-maintained home with many desirable features! Schedule your private showing today.

10. 2026-04-16
    historical $80,000 1029-char remark

    Show marketing remark (1029 chars)

    Welcome home to this charming all-brick ranch offering comfort, character, and extra living space! This 2-bedroom, 1-bath home features a bright and inviting living room filled with natural light from abundant windows and highlighted by beautiful wood flooring. The kitchen is both functional and stylish, complete with a tile backsplash, ample cabinetry, and a cozy eat-in. The full bath includes a classic pedestal sink and a tub/shower combination. Downstairs, the finished basement provides additional versatility with a non-conforming bedroom, convenient half bath, and plenty of space for a recreation room, home office, or guest area. Outside, enjoy a fully fenced backyard - ideal for pets, entertaining, or relaxing - along with a detached 1-car garage for added storage and convenience. Close to I-75 & I-696 for an easy commute. Multiple downtown areas, shopping and dining nearby. Don't miss this great opportunity to own a well-maintained home with many desirable features! Schedule your private showing today.

11. 2025-12-18
    historical
12. 2025-12-18
    historical
13. 2025-06-16
    listed $89,900 Active
14. 2025-06-16
    listed $89,900 Active
15. 2015-12-07
    soldstatus $13,500 Sold
16. 2015-12-04
    soldstatus $13,500
17. 2015-11-28
    historical
18. 2015-11-27
    historical
19. 2015-10-30
    listed $12,900 Active
20. 2015-10-30
    listed $12,900
21. 2014-08-26
    historical
22. 2014-08-25
    historical
23. 2014-08-25
    historical
24. 2014-02-26
    listed $24,900
25. 2014-02-26
    listed $24,900
26. 2014-02-26
    listed $24,900

ⓘ 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: $815 · $68/mo
• Projected year-2 tax: $1,005 · $84/mo
• Expected delta: +$190/yr (+$16/mo · 23.3%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,468
• − Mortgage interest: −$4,347
• − Property taxes: −$815
• − Insurance: −$388
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$2,257
• Taxable income: $5,185
• Est. tax owed @ 24.0%: −$1,245
• After-tax cash flow: $4,889/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

+221.3% since first listed

19 events — show timeline

• 2026-04-18 Listed $80,000 REALCOMP
• 2026-04-18 Listed $80,000 MiRealSource-MiMLS
• 2026-04-16 Coming Soon $80,000 MiRealSource-MiMLS
• 2025-12-18 Listing Removed — MiRealSource-MiMLS
• 2025-12-18 Listing Removed — REALCOMP
• 2025-06-16 Listed $89,900 REALCOMP
• 2025-06-16 Listed $89,900 MiRealSource-MiMLS
• 2015-12-07 Sold (MLS) $13,500 REALCOMP
• 2015-12-04 Sold (MLS) $13,500 MiRealSource-MiMLS
• 2015-11-28 Listing Removed — REALCOMP
• 2015-11-27 Listing Removed — MiRealSource-MiMLS
• 2015-10-30 Listed $12,900 REALCOMP
• 2015-10-30 Listed $12,900 MiRealSource-MiMLS
• 2014-08-26 Listing Removed — MiRealSource-MiMLS
• 2014-08-25 Listing Removed — REALCOMP
• 2014-08-25 Listing Removed — MiRealSource-MiMLS
• 2014-02-26 Listed $24,900 REALCOMP
• 2014-02-26 Listed $24,900 MiRealSource-MiMLS
• 2014-02-26 Listed $24,900 MiRealSource-MiMLS

Property tax history

-2.5%/yr

Latest (2025): $815 · -7.3% YoY. Source: county tax records.