20057 Hanna St · Detroit, MI 48203

$32,900

3 bd · 1.0 ba · 795 sqft · SingleFamily public records · 317 Days on market

Built 1930 3,485 sqft lot $41/sqft · 32% below area Est $49k · 32% under ↓ 27% 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 +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

Key facts

• 3,485 sq ft lot
• Built 1930
• Listed 317 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $849 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.2% 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; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 43% 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 $227 of loan paydown is wiped out by about $987 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 5y ago; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 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 1930 — 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. 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: 4.14% ✓
• Cap rate: 37.24%
• Cash-on-cash: 110.53%
• DSCR: 5.92
• GRM: 2.0

CMA / ARV

• ARV (median comp): $48,634
• List price: $32,900
• Delta: -32.35%
• 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
1443 E George Ave	0.47mi	2/1.0 (-1)	760 (-4%)	8mo	$159,300	$210	59
1140 E Elza St	0.65mi	2/1.0 (-1)	809 (+2%)	6mo	$95,100	$118	57
19210 Cameron St	0.57mi	2/1.0 (-1)	750 (-6%)	5mo	$52,500	$70	55
533 E Milton Ave	0.74mi	2/1.0 (-1)	810 (+2%)	6mo	$85,000	$105	52
1202 E George Ave	0.45mi	3/1.0	900 (+13%)	7mo	$135,000	$150	51
20747 Caledonia Ave	0.55mi	3/1.0	909 (+14%)	2mo	$144,900	$159	49
1721 E Milton Ave E	0.62mi	2/1.0 (-1)	732 (-8%)	5mo	$125,000	$171	48
1771 E George Ave	0.55mi	2/1.0 (-1)	724 (-9%)	8mo	$93,000	$128	48
1474 E Milton Ave	0.55mi	2/1.0 (-1)	682 (-14%)	2mo	$155,000	$227	44
1032 E Maxlow Ave	0.73mi	2/1.5 (-1)	867 (+9%)	1mo	$185,000	$213	43
19235 Fleming St	0.74mi	2/1.0 (-1)	720 (-9%)	6mo	$57,000	$79	40
1403 E Bernhard Ave	0.63mi	2/1.0 (-1)	695 (-13%)	8mo	$139,600	$201	38

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: —
• Equity multiple: 6.29×
• Total profit: $48,733
• Equity at exit: $4,905

10-year hold

• IRR: —
• Equity multiple: 13.17×
• Total profit: $112,111
• Equity at exit: $2,845

Cash invested: $9,212 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$173
• Tax from tax record: −$42 /mo · $508/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $849

Break-even live

Break-even rent $289

Max offer price $32,900

Occupancy floor 33%

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Rent comps 27 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	1d	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
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	20d	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
1291 W State Fair Ave Detroit, MI	1.0–2.0	1.0	700	$950	$1.36	12d	2	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $32,900 Active 317 DOM
2. 2026-06-17
   days on market $32,900 Active 316 DOM
3. 2026-06-15
   days on market $32,900 Active 314 DOM
4. 2026-06-13
   days on market $32,900 Active 312 DOM
5. 2026-06-13
   days on market $32,900 Active 311 DOM
6. 2026-06-09
   days on market $32,900 Active 308 DOM
7. 2026-06-08
   days on market $32,900 Active 307 DOM
8. 2026-06-07
   days on market $32,900 Active 306 DOM
9. 2026-06-04
   days on market $32,900 Active 303 DOM
10. 2026-06-03
    days on market $32,900 Active 302 DOM
11. 2026-06-01
    days on market $32,900 Active 300 DOM
12. 2026-05-31
    days on market $32,900 Active 299 DOM
13. 2026-01-21
    price $32,900 303-char remark

    Show marketing remark (303 chars)

    INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

14. 2026-01-20
    price $32,900 296-char remark

    Show marketing remark (296 chars)

    INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON’T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

15. 2025-09-16
    price $34,900 303-char remark

    Show marketing remark (296 chars)

    INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON’T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

16. 2025-09-16
    price $34,900 296-char remark

    Show marketing remark (296 chars)

    INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON’T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

17. 2025-08-05
    listed $38,000 Active 296-char remark

    Show marketing remark (303 chars)

    INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

18. 2025-08-05
    listed $38,000 Active 303-char remark

    Show marketing remark (303 chars)

    INVESTOR SPECIAL IN HIGHLAND PARK! PRIME OPPORTUNITY FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

19. 2024-07-08
    historical
20. 2024-07-08
    historical
21. 2024-06-21
    status Active
22. 2024-06-21
    status Active
23. 2024-05-24
    status Pending
24. 2024-05-24
    status Pending
25. 2024-05-20
    price $30,000
26. 2024-05-20
    price $30,000
27. 2024-05-18
    price $32,900
28. 2024-05-18
    price $32,900
29. 2024-05-03
    status Active
30. 2024-05-03
    status Active
31. 2024-04-28
    status Pending
32. 2024-04-28
    status Pending
33. 2024-04-25
    listed $35,000 Active
34. 2024-04-25
    listed $35,000 Active
35. 2023-11-07
    historical
36. 2023-11-07
    historical
37. 2023-07-27
    price $26,500
38. 2023-07-26
    price $26,500
39. 2023-07-19
    status Active
40. 2023-07-19
    status Active
41. 2023-06-29
    historical Accepting Backup Offers
42. 2023-06-29
    historical Accepting Backup Offers
43. 2023-06-07
    price $29,000
44. 2023-06-07
    price $29,000
45. 2023-03-07
    price $40,000
46. 2023-03-06
    price $40,000
47. 2023-03-06
    status Active
48. 2023-03-06
    status Active
49. 2023-03-06
    historical
50. 2023-03-06
    historical

ⓘ 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: $508 · $42/mo
• Projected year-2 tax: $508 · $42/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 ≥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: $16,361
• − Mortgage interest: −$1,843
• − Property taxes: −$508
• − Insurance: −$164
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$957
• Taxable income: $10,271
• Est. tax owed @ 24.0%: −$2,465
• After-tax cash flow: $7,717/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
• 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

-26.7% since first listed

44 events — show timeline

• 2026-01-21 Price Changed $32,900 MiRealSource-MiMLS
• 2026-01-20 Price Changed $32,900 REALCOMP
• 2025-09-16 Price Changed $34,900 MiRealSource-MiMLS
• 2025-09-16 Price Changed $34,900 REALCOMP
• 2025-08-05 Listed $38,000 REALCOMP
• 2025-08-05 Listed $38,000 MiRealSource-MiMLS
• 2024-07-08 Listing Removed — MiRealSource-MiMLS
• 2024-07-08 Listing Removed — REALCOMP
• 2024-06-21 Relisted — MiRealSource-MiMLS
• 2024-06-21 Relisted — REALCOMP
• 2024-05-24 Pending — REALCOMP
• 2024-05-24 Pending — MiRealSource-MiMLS
• 2024-05-20 Price Changed $30,000 MiRealSource-MiMLS
• 2024-05-20 Price Changed $30,000 REALCOMP
• 2024-05-18 Price Changed $32,900 MiRealSource-MiMLS
• 2024-05-18 Price Changed $32,900 REALCOMP
• 2024-05-03 Relisted — MiRealSource-MiMLS
• 2024-05-03 Relisted — REALCOMP
• 2024-04-28 Pending — MiRealSource-MiMLS
• 2024-04-28 Pending — REALCOMP
• 2024-04-25 Listed $35,000 MiRealSource-MiMLS
• 2024-04-25 Listed $35,000 REALCOMP
• 2023-11-07 Listing Removed — MiRealSource-MiMLS
• 2023-11-07 Listing Removed — REALCOMP
• 2023-07-27 Price Changed $26,500 MiRealSource-MiMLS
• 2023-07-26 Price Changed $26,500 REALCOMP
• 2023-07-19 Relisted — MiRealSource-MiMLS
• 2023-07-19 Relisted — REALCOMP
• 2023-06-29 Contingent — MiRealSource-MiMLS
• 2023-06-29 Contingent — REALCOMP
• 2023-06-07 Price Changed $29,000 MiRealSource-MiMLS
• 2023-06-07 Price Changed $29,000 REALCOMP
• 2023-03-07 Price Changed $40,000 MiRealSource-MiMLS
• 2023-03-06 Price Changed $40,000 REALCOMP
• 2023-03-06 Relisted — MiRealSource-MiMLS
• 2023-03-06 Relisted — REALCOMP
• 2023-03-06 Listing Removed — MiRealSource-MiMLS
• 2023-03-06 Listing Removed — REALCOMP
• 2023-03-03 Listed $29,999 MiRealSource-MiMLS
• 2023-03-03 Listed $29,999 REALCOMP
• 2021-10-14 Listing Removed — REALCOMP
• 2021-10-13 Listing Removed — MiRealSource-MiMLS
• 2021-07-16 Listed $44,900 MiRealSource-MiMLS
• 2021-07-16 Listed $44,900 REALCOMP

Property tax history

-3.9%/yr

Latest (2025): $508 · -53.5% YoY. Source: county tax records.