20568 Goulburn St · Detroit, MI 48205

$100,000

3 bd · 1.0 ba · 852 sqft · SingleFamily public records · 37 Days on market

Built 1943

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• 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

New Roof, Newly remodeled kitchen, new drywall, new hot water tank, fenced garage, great neighbors that are constantly doing renovations.

Key facts

• New drywall
• New hot water tank
• Fenced garage

Tags

• NEW ROOF
• NEW DRYWALL
• NEW HOT WATER TANK
• FENCED GARAGE

Property features AI

Exterior

• Home design: Single-family property built in 1943; One-story (entry level information not provided)
• Construction: Built in 1943
• Exterior features: Located in the Conner Creek subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

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; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $691 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 31y 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 $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1943 — 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: 1.35% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.58%
• DSCR: 1.92
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $65,604
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20543 Waltham St	0.10mi	3/1.0	890 (+4%)	1mo	$50,000	$56	87
12753 Georgiana Ave	0.17mi	3/1.0	888 (+4%)	2mo	$120,000	$135	83
13046 Sherman Ave	0.35mi	4/1.0 (+1)	870 (+2%)	1mo	$120,000	$138	74
20300 Hickory St	0.32mi	3/1.0	918 (+8%)	1mo	$31,000	$34	71
20200 Alcoy St	0.31mi	3/1.0	917 (+8%)	2mo	$55,100	$60	71
20218 Goulburn St	0.18mi	3/1.0	965 (+13%)	1mo	$12,000	$12	68
12416 Vernon Ave	0.26mi	3/1.0	944 (+11%)	2mo	$128,000	$136	68
20218 Hickory St	0.35mi	3/1.0	930 (+9%)	1mo	$26,000	$28	67
12484 Sherman Ave	0.34mi	2/1.0 (-1)	800 (-6%)	3mo	$72,000	$90	67
13452 Tacoma St	0.62mi	3/1.0	900 (+6%)	1mo	$69,072	$77	60
20091 Annott St	0.52mi	2/1.0 (-1)	747 (-12%)	1mo	$12,800	$17	49
19730 Goulburn St	0.53mi	3/1.5	977 (+15%)	1mo	$114,000	$117	48

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: 11.1%
• Equity multiple: 1.43×
• Total profit: $12,095
• Equity at exit: $14,910

10-year hold

• IRR: 18.9%
• Equity multiple: 2.46×
• Total profit: $40,860
• Equity at exit: $8,646

Cash invested: $28,000 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$524
• Tax from tax record: −$23 /mo · $272/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $480

Break-even live

Break-even rent $745

Max offer price $100,000

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	0.09mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.16mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	0.20mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	0.21mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	0.25mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.34mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	0.34mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	0.38mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	43d	1	0.43mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.43mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	0.47mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	24d	1	0.53mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.78mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.84mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.87mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	0.87mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.87mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.96mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.96mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	0.97mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.05mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	24d	1	1.06mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	1.07mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	1.09mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	43d	1	1.13mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	21d	1	1.14mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	1.14mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	3d	1	1.23mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.26mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	3d	1	1.27mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	1.31mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	24d	1	1.34mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	3d	1	1.37mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.37mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	1.41mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	24d	1	1.47mi

Listing history 36 events

1. 2026-06-18
   days on market $100,000 Active 37 DOM
2. 2026-06-17
   days on market $100,000 Active 36 DOM
3. 2026-06-15
   days on market $100,000 Active 34 DOM
4. 2026-06-13
   days on market $100,000 Active 32 DOM
5. 2026-06-13
   days on market $100,000 Active 31 DOM
6. 2026-06-09
   days on market $100,000 Active 28 DOM
7. 2026-06-08
   days on market $100,000 Active 27 DOM
8. 2026-06-07
   days on market $100,000 Active 26 DOM
9. 2026-06-04
   days on market $100,000 Active 23 DOM
10. 2026-06-03
    days on market $100,000 Active 22 DOM
11. 2026-06-01
    days on market $100,000 Active 20 DOM
12. 2026-05-31
    days on market $100,000 Active 19 DOM
13. 2026-05-12
    listed $100,000 Active 137-char remark
14. 2023-08-06
    historical
15. 2023-08-06
    historical
16. 2023-02-23
    listed $59,900 Active
17. 2023-02-23
    listed $59,900 Active
18. 2006-08-01
    soldstatus $80,000
19. 2006-04-04
    listed $80,000
20. 2006-03-27
    soldstatus $31,000
21. 2005-07-01
    historical
22. 2005-06-23
    listed $37,000
23. 2005-06-23
    listed $43,900
24. 2005-05-13
    historical
25. 2005-03-01
    listed $52,900
26. 2005-02-05
    historical
27. 2004-12-09
    listed $75,000
28. 2004-12-07
    historical
29. 2004-07-21
    listed $75,000
30. 2004-06-16
    historical
31. 2003-09-02
    listed $75,000
32. 2003-08-31
    historical
33. 2003-05-20
    listed $75,000
34. 1996-06-06
    soldstatus $34,900
35. 1996-04-25
    historical
36. 1995-09-08
    listed $34,900

ⓘ 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: $272 · $23/mo
• Projected year-2 tax: $906 · $75/mo
• Expected delta: +$634/yr (+$53/mo · 233.4%)

ⓘ 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: $16,235
• − Mortgage interest: −$5,602
• − Property taxes: −$272
• − Insurance: −$500
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$2,909
• Taxable income: $4,355
• Est. tax owed @ 24.0%: −$1,045
• After-tax cash flow: $4,716/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

+186.5% since first listed

24 events — show timeline

• 2026-05-12 Listed $100,000 FSBO.com
• 2023-08-06 Listing Removed — MiRealSource-MiMLS
• 2023-08-06 Listing Removed — REALCOMP
• 2023-02-23 Listed $59,900 MiRealSource-MiMLS
• 2023-02-23 Listed $59,900 REALCOMP
• 2006-08-01 Sold (MLS) $80,000 REALCOMP
• 2006-04-04 Listed $80,000 REALCOMP
• 2006-03-27 Sold (MLS) $31,000 REALCOMP
• 2005-07-01 Listing Removed — REALCOMP
• 2005-06-23 Listed $43,900 REALCOMP
• 2005-06-23 Listed $37,000 REALCOMP
• 2005-05-13 Listing Removed — MiRealSource-MiMLS
• 2005-03-01 Listed $52,900 MiRealSource-MiMLS
• 2005-02-05 Listing Removed — REALCOMP
• 2004-12-09 Listed $75,000 REALCOMP
• 2004-12-07 Listing Removed — REALCOMP
• 2004-07-21 Listed $75,000 REALCOMP
• 2004-06-16 Listing Removed — REALCOMP
• 2003-09-02 Listed $75,000 REALCOMP
• 2003-08-31 Listing Removed — REALCOMP
• 2003-05-20 Listed $75,000 REALCOMP
• 1996-06-06 Sold (MLS) $34,900 MiRealSource-MiMLS
• 1996-04-25 Listing Removed — MiRealSource-MiMLS
• 1995-09-08 Listed $34,900 MiRealSource-MiMLS

Property tax history

-12.5%/yr

Latest (2025): $272 · +4.0% YoY. Source: county tax records.