20370 Cherokee St · Detroit, MI 48219

$114,990

3 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 4 Days on market

Built 1955 0.28 ac lot $95/sqft · 17% below area Est $138k · 17% under

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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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.8/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

Key facts

• 0.28 acre lot
• Garage
• Built 1955

Property features AI

Exterior

• Parking: Detached 1-car garage; Detached parking
• Utilities: Public water (listed); Public sewer (not specified)
• Home design: Ranch style single-family home; One story
• Construction: Built in 1955; Aluminum siding and brick exterior
• Exterior features: Lot size approximately 0.28 acres; Public water

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Primary bedroom (about 11.4 x 12.5); Bedroom 2 (about 9.1 x 11.4); Bedroom 3 (about 10.1 x 11)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Full basement
• Laundry & utility: Washer; Dryer

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 $220 ($3k/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 fast (+8.0%/yr); 305 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% of the median local income ($44k/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 $796 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 + 8.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,990

Questions for the listing agent

1. Built in 1955 — 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: 8.59%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• GRM: 7.1

CMA / ARV

• ARV (median comp): $138,463
• List price: $114,990
• Delta: -16.95%
• 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
20370 Cherokee St	0.00mi	3/1.5	1,208 (0%)	1mo	$117,000	$97	98
20348 Berg Rd	0.11mi	3/1.5	1,136 (-6%)	6mo	$135,000	$119	77
19950 Houghton St	0.56mi	3/2.0	1,200 (-1%)	8mo	$153,000	$128	62
20116 Greydale Ave	0.69mi	3/1.0	1,164 (-4%)	2mo	$149,500	$128	61
20135 Woodbine St	0.54mi	3/1.0	1,186 (-2%)	14mo	$125,000	$105	60
19612 Dale St	0.63mi	3/2.0	1,285 (+6%)	2mo	$135,000	$105	54
20102 Winston St	0.70mi	3/1.5	1,233 (+2%)	14mo	$120,500	$98	51
20075 Greydale Ave	0.67mi	3/2.0	1,248 (+3%)	14mo	$151,000	$121	48
20266 Greydale Ave	0.67mi	3/1.0	1,072 (-11%)	3mo	$115,000	$107	47
21700 Pembroke Ave	0.74mi	3/1.0	1,089 (-10%)	3mo	$155,000	$142	47
22893 Golfview Dr	0.54mi	4/2.0 (+1)	1,320 (+9%)	13mo	$180,000	$136	40
24421 Pembroke Ave	0.71mi	3/1.5	1,056 (-13%)	14mo	$181,000	$171	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,564
• Equity at exit: $17,145

10-year hold

• IRR: 16.2%
• Equity multiple: 2.65×
• Total profit: $53,006
• Equity at exit: $9,942

Cash invested: $32,197 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 305
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$603
• Tax from tax record: −$198 /mo · $2,374/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $220

Break-even live

Break-even rent $1,074

Max offer price $114,990

Occupancy floor 79%

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: $28,748
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23411 W Eight Mile Rd Detroit, MI	1.0–2.0	1.0	742	$1,000	$1.35	43d	1	0.19mi
19800 Berg Rd Detroit, MI	3.0	1.0	1000	$1,550	$1.55	16d	1	0.40mi
22649 Frisbee St Detroit, MI	3.0	1.0	1100	$1,495	$1.36	43d	1	0.43mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	43d	1	0.48mi
22238 Pembroke Ave Detroit, MI	3.0	1.5	1100	$1,500	$1.36	43d	1	0.52mi
20555 Lahser Rd Detroit, MI	1.0–2.0	1.0	737	$975	$1.32	43d	2	0.52mi
19928 Houghton St Detroit, MI	3.0	1.0	880	$1,495	$1.70	10d	1	0.54mi
19301 Shiawassee Dr Detroit, MI	1.0–2.0	1.0	740	$1,150	$1.55	43d	2	0.64mi
47129 Wedgewood Southfield, MI	1.0–2.0	1.0–2.0	1000	$1,275	$1.27	43d	1	0.64mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	43d	1	0.77mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	43d	1	0.77mi
19248 Telegraph Rd Unit P7 Detroit, MI	2.0	1.0	820	$975	$1.19	24d	1	0.79mi
19250 Telegraph Rd Unit O7 Detroit, MI	2.0	1.0	820	$975	$1.19	24d	1	0.79mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	43d	1	0.83mi
21422 Pembroke Ave Detroit, MI	3.0	1.5	1000	$1,695	$1.70	16d	1	0.86mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	10d	1	0.87mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	4d	1	0.87mi
20410 Five Points St Redford, MI	3.0	1.0	950	$1,600	$1.68	4d	1	0.89mi
22419 Fairway Dr Southfield, MI	3.0	1.0	1262	$1,850	$1.47	24d	1	0.96mi
19810 Blackstone St Detroit, MI	3.0	1.0	1216	$1,395	$1.15	43d	1	1.02mi
25400 Basin St Southfield, MI	1.0–2.0	1.0	825	$1,400	$1.70	5d	11	1.18mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	12d	1	1.25mi
25740 Shiawassee St Southfield, MI	1.0–2.0	1.0	850	$1,253	$1.47	43d	10	1.25mi
20079 Patton St Detroit, MI	3.0	1.0	1150	$1,550	$1.35	4d	1	1.25mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	43d	1	1.32mi
19781 Fielding St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	4d	1	1.34mi
21455 Pickford St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	1.42mi
23404 Plum Hollow St Southfield, MI	3.0	1.5	1050	$2,000	$1.90	24d	1	1.44mi
21434 Karl St Detroit, MI	2.0	1.0	1000	$1,350	$1.35	43d	1	1.46mi

Listing history 6 events

1. 2026-05-09
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

2. 2026-05-09
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

3. 2026-05-09
   status Pending

   Show marketing remark (560 chars)

   Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

4. 2026-05-05
   listed $114,990 Active 560-char remark

   Show marketing remark (560 chars)

   Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

5. 2026-05-05
   listed $114,990 Active 560-char remark

   Show marketing remark (560 chars)

   Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

6. 2026-05-05
   listed $114,990 Active

   Show marketing remark (560 chars)

   Charming 3-bedroom, 1-bathroom home offering comfort, convenience, and potential! This brick ranch home located on a large lot is perfect for a first-time home buyer or a savvy investor looking to expand their portfolio. The home provides extra space with a beautiful sunroom overlooking the large fenced in yard and a large basement ready for your finishing touches. Enjoy being just minutes away from local parks, schools, shopping centers, and major freeways, making commuting a breeze. Don't miss this affordable opportunity to own in a desirable location!

ⓘ 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: $2,374 · $198/mo
• Projected year-2 tax: $2,374 · $198/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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,230
• − Mortgage interest: −$6,441
• − Property taxes: −$2,374
• − Insurance: −$575
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$3,345
• Taxable income: $898
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $2,421/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

+1.7% since first listed

9 events — show timeline

• 2026-06-01 Sold (MLS) $117,000 SW Michigan MLS
• 2026-06-01 Sold (MLS) $117,000 MiRealSource-MiMLS
• 2026-06-01 Sold (MLS) $117,000 REALCOMP
• 2026-05-09 Pending — REALCOMP
• 2026-05-09 Pending — MiRealSource-MiMLS
• 2026-05-09 Pending — SW Michigan MLS
• 2026-05-05 Listed $114,990 SW Michigan MLS
• 2026-05-05 Listed $114,990 MiRealSource-MiMLS
• 2026-05-05 Listed $114,990 REALCOMP

Property tax history

+1.6%/yr

Latest (2025): $2,374 · -0.9% YoY. Source: county tax records.