20300 Hickory St · Detroit, MI 48205

$32,000

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 9 Days on market

Built 1942 5,227 sqft lot $35/sqft · 27% below area Est $44k · 27% under

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

Key facts

• 2-car garage
• 5,227 sq ft lot
• 2 garage spots

Tags

• 2-CAR GARAGE
• QUICK ACCESS TO MAJOR ROADS
• POTENTIAL FOR RENOVATION
• POTENTIAL FOR RENTAL INCOME

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 40 x 127.2 (0.12 acres)

Interior

• Bedrooms: One and one-half level home (bedroom locations not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Cap rate 38.1% vs local median 10.1% 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: Rents rising (+1.3%/yr); 376 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $221 of loan paydown is wiped out by about $960 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,000

Questions for the listing agent

1. Built in 1942 — 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: 4.23% ✓
• Cap rate: 38.10%
• Cash-on-cash: 113.61%
• DSCR: 6.06
• GRM: 2.0

CMA / ARV

• ARV (median comp): $43,878
• List price: $32,000
• Delta: -27.07%
• 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
20300 Hickory St	0.00mi	3/1.0	918 (0%)	1mo	$31,000	$34	99
20218 Hickory St	0.08mi	3/1.0	930 (+1%)	1mo	$26,000	$28	93
13452 Tacoma St	0.42mi	3/1.0	900 (-2%)	1mo	$69,072	$77	76
20218 Goulburn St	0.32mi	3/1.0	965 (+5%)	1mo	$12,000	$12	76
20543 Waltham St	0.41mi	3/1.0	890 (-3%)	1mo	$50,000	$56	75
20020 Pelkey St	0.21mi	3/1.0	1,020 (+11%)	2mo	$75,000	$74	70
12416 Vernon Ave	0.56mi	3/1.0	944 (+3%)	2mo	$128,000	$136	67
13046 Sherman Ave	0.44mi	4/1.0 (+1)	870 (-5%)	1mo	$120,000	$138	64
19730 Goulburn St	0.52mi	3/1.5	977 (+6%)	1mo	$114,000	$117	62
20541 Barlow St	0.47mi	2/1.0 (-1)	980 (+7%)	2mo	$60,000	$61	60
14076 Rossini Dr	0.57mi	3/1.0	1,055 (+15%)	0mo	$90,000	$85	48
19953 Regent Dr	0.66mi	3/1.0	1,038 (+13%)	2mo	$55,000	$53	46

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: —
• Equity multiple: 6.20×
• Total profit: $46,626
• Equity at exit: $4,771

10-year hold

• IRR: —
• Equity multiple: 12.31×
• Total profit: $101,377
• Equity at exit: $2,767

Cash invested: $8,960 (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: 376
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$168
• Tax est. 1.5%: −$40 /mo · $480/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $848

Break-even live

Break-even rent $280

Max offer price $32,000

Occupancy floor 32%

Sensitivity live

Price	-10% $870	-5% $859	+0% $848	+5% $837	+10% $826
Rent	-10% $741	-5% $795	+0% $848	+5% $902	+10% $955
Rate	-1.0pp $864	-0.5pp $856	base $848	+0.5pp $840	+1.0pp $832

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.04mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	0.07mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.12mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.19mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	0.35mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	0.35mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	0.36mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.36mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.47mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.48mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.52mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	25d	1	0.61mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	0.62mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.66mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.72mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.78mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.82mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.98mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.06mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	1.07mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.07mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	1.10mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	1.10mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	1.12mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	1.12mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	1.23mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.28mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	25d	1	1.36mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	1.42mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	1.45mi

Listing history 9 events

1. 2026-05-06
   status Pending 567-char remark

   Show marketing remark (567 chars)

   Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

2. 2026-05-06
   status Pending 567-char remark

   Show marketing remark (567 chars)

   Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

3. 2026-04-27
   listed $32,000 Active 567-char remark

   Show marketing remark (567 chars)

   Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

4. 2026-04-27
   listed $32,000 Active 567-char remark

   Show marketing remark (567 chars)

   Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

5. 2026-04-27
   historical

   Show marketing remark (567 chars)

   Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

6. 2026-04-27
   historical

   Show marketing remark (567 chars)

   Investor special! Solid 3-bedroom, 1-bath bungalow with a 2-car garage located just south of 8 Mile, offering quick access to major roads, shopping, and surrounding suburbs. This property presents a great opportunity for investors or buyers looking to add value. Classic bungalow layout with strong potential for renovation or rental income. Convenient location near the Detroit/8 Mile corridor makes it attractive for both tenants and future resale. Property is being sold as-is. Great chance to secure an affordable investment in a well-positioned Detroit location.

7. 2026-03-16
   listed $38,000 Active
8. 2026-03-16
   listed $38,000 Active
9. 1993-06-30
   soldstatus $27,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,245
• − Mortgage interest: −$1,792
• − Property taxes: −$480
• − Insurance: −$160
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$931
• Taxable income: $10,282
• Est. tax owed @ 24.0%: −$2,468
• After-tax cash flow: $7,712/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

+11.1% since first listed

11 events — show timeline

• 2026-05-22 Sold (MLS) $31,000 MiRealSource-MiMLS
• 2026-05-22 Sold (MLS) $31,000 REALCOMP
• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — REALCOMP
• 2026-04-27 Listed $32,000 REALCOMP
• 2026-04-27 Listing Removed — REALCOMP
• 2026-04-27 Listing Removed — MiRealSource-MiMLS
• 2026-04-27 Listed $32,000 MiRealSource-MiMLS
• 2026-03-16 Listed $38,000 REALCOMP
• 2026-03-16 Listed $38,000 MiRealSource-MiMLS
• 1993-06-30 Sold (Public Records) $27,900 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,303 · +1.0% YoY. Source: county tax records.