19603 Goddard St · Detroit, MI 48234

$115,000

3 bd · 1.0 ba · 1,159 sqft · SingleFamily public records · 15 Days on market

Built 1929 7,405 sqft lot Est $81k · 42% over

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Why this score? — see what drove the D+ 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 +21.6/30.0
• DSCR +6.9/10.0
• 1% rule +6.7/10.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• 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 to this impeccably maintained brick home, featuring 3 bedrooms and 1 bathroom. The property offers over 1,300 square feet of living space and boasts an abundance of natural light. Its huge backyard is perfect for hosting summer barbecues, gardening, or simply relaxing. The home is situated on a quiet, friendly street within the highly sought-after State Fair/Nolan neighborhood on Detroit's East Side. Its location is extremely convenient: less than 5 minutes from Meijer, Kroger, and Aldi (all located within 1 to 2 miles), as well as the I-75 and I-94 highways. Additionally, it is close to the Eastland Center shopping and dining complex, as well as local schools, churches, and parks. The house stands out thanks to its solid brick construction and features a spacious basement ready for your finishing touches. It is the ideal choice for first-time homebuyers, investors, or anyone seeking an affordable space in an excellent area. Homes on this pleasant street tend to sell very quickly. The property is equipped with a security system and is monitored 24/7.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1929

Property features AI

Exterior

• Parking: Detached garage (1.5 spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available
• Home design: Single-family residence; Two levels; Lower-level entry with steps
• Construction: Brick construction; Block foundation; Home warranty included
• Exterior features: Paved road access; Lot approximately 0.17 acres (60 x 120)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Smoke detector(s)

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 $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+6.7%/yr); 226 active listings in the ZIP; 34 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).
• At $1,344/mo this rent would consume 46% of the median local household income ($35k/yr) (locally 2372% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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 + 6.7% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.17% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $81,130
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19365 Goddard St	0.10mi	3/1.0	1,100 (-5%)	0mo	$97,500	$89	86
19181 Marx St	0.40mi	3/1.0	1,152 (-1%)	1mo	$40,500	$35	79
19710 Greeley St	0.48mi	3/1.5	1,143 (-1%)	3mo	$80,000	$70	71
19145 Riopelle St	0.53mi	3/2.0	1,152 (-1%)	2mo	$80,000	$69	68
19711 Greeley St	0.51mi	3/1.0	1,125 (-3%)	4mo	$75,000	$67	68
19155 Gallagher St	0.50mi	3/1.5	1,208 (+4%)	0mo	$129,900	$108	67
20041 Marx St	0.43mi	3/1.5	1,233 (+6%)	2mo	$130,500	$106	66
19662 Charest St	0.37mi	3/1.0	1,041 (-10%)	2mo	$69,000	$66	64
19163 Orleans St	0.47mi	2/1.0 (-1)	1,080 (-7%)	2mo	$32,500	$30	60
19360 Revere St	0.53mi	3/1.0	1,050 (-9%)	2mo	$78,000	$74	58
20450 Gallagher St	0.68mi	3/1.0	1,291 (+11%)	1mo	$45,000	$35	48
2339 E Outer Dr	0.72mi	3/2.5	1,324 (+14%)	4mo	$154,000	$116	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.82×
• Total profit: $-5,769
• Equity at exit: $17,147

10-year hold

• IRR: 9.5%
• Equity multiple: 1.88×
• Total profit: $28,256
• Equity at exit: $9,943

Cash invested: $32,200 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,344 high
• Mortgage (P&I): −$603
• Tax from tax record: −$237 /mo · $2,844/yr
• Insurance: −$48
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $118

Break-even live

Break-even rent $1,194

Max offer price $115,000

Occupancy floor 86%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.26mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	0.40mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.51mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	0.51mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.53mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	0.55mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.55mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.60mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	0.60mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.65mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.73mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	0.75mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	0.78mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	0.80mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	24d	1	0.87mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	0.90mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	0.97mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	1.03mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	1.07mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	1.15mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	1.16mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.16mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	1.17mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	2d	1	1.23mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	1.24mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.33mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	1.40mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	1.41mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	1.45mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	2d	1	1.45mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	20d	1	1.45mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	44d	1	1.48mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	1.49mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	44d	1	1.49mi

Listing history 11 events

1. 2026-06-18
   days on market $115,000 Active 15 DOM
2. 2026-06-17
   days on market $115,000 Active 14 DOM
3. 2026-06-16
   pricedays on market $115,000 Active 13 DOM
4. 2026-06-15
   days on market $118,000 Active 12 DOM
5. 2026-06-13
   days on market $118,000 Active 10 DOM
6. 2026-06-13
   days on market $118,000 Active 9 DOM
7. 2026-06-09
   days on market $118,000 Active 6 DOM
8. 2026-06-08
   days on market $118,000 Active 5 DOM
9. 2026-06-07
   days on market $118,000 Active 4 DOM
10. 2026-06-04
    remarks 699-char remark

    Show marketing remark (1074 chars)

    Welcome to this impeccably maintained brick home, featuring 3 bedrooms and 1 bathroom. The property offers over 1,300 square feet of living space and boasts an abundance of natural light. Its huge backyard is perfect for hosting summer barbecues, gardening, or simply relaxing. The home is situated on a quiet, friendly street within the highly sought-after State Fair/Nolan neighborhood on Detroit's East Side. Its location is extremely convenient: less than 5 minutes from Meijer, Kroger, and Aldi (all located within 1 to 2 miles), as well as the I-75 and I-94 highways. Additionally, it is close to the Eastland Center shopping and dining complex, as well as local schools, churches, and parks. The house stands out thanks to its solid brick construction and features a spacious basement ready for your finishing touches. It is the ideal choice for first-time homebuyers, investors, or anyone seeking an affordable space in an excellent area. Homes on this pleasant street tend to sell very quickly. The property is equipped with a security system and is monitored 24/7.

11. 2026-06-04
    listed $118,000 Active 1 DOM

    Show marketing remark (1074 chars)

    Welcome to this impeccably maintained brick home, featuring 3 bedrooms and 1 bathroom. The property offers over 1,300 square feet of living space and boasts an abundance of natural light. Its huge backyard is perfect for hosting summer barbecues, gardening, or simply relaxing. The home is situated on a quiet, friendly street within the highly sought-after State Fair/Nolan neighborhood on Detroit's East Side. Its location is extremely convenient: less than 5 minutes from Meijer, Kroger, and Aldi (all located within 1 to 2 miles), as well as the I-75 and I-94 highways. Additionally, it is close to the Eastland Center shopping and dining complex, as well as local schools, churches, and parks. The house stands out thanks to its solid brick construction and features a spacious basement ready for your finishing touches. It is the ideal choice for first-time homebuyers, investors, or anyone seeking an affordable space in an excellent area. Homes on this pleasant street tend to sell very quickly. The property is equipped with a security system and is monitored 24/7.

ⓘ 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: $2,844 · $237/mo
• Projected year-2 tax: $2,844 · $237/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 7/10 Severe FEMA zone X (unshaded) · 97% 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: $16,129
• − Mortgage interest: −$6,442
• − Property taxes: −$2,844
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$3,345
• Taxable loss: −$324
• Est. tax savings @ 24.0%: +$78
• After-tax cash flow: $1,498/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+68.6% since first listed

18 events — show timeline

• 2026-06-04 Listed $118,000 MiRealSource-MiMLS
• 2026-06-04 Listed $118,000 REALCOMP
• 2026-06-04 Coming Soon $118,000 MiRealSource-MiMLS
• 2026-01-09 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2025-12-17 Listed $115,000 MiRealSource-MiMLS
• 2025-12-17 Listed $115,000 REALCOMP
• 2021-10-22 Sold (Public Records) $105,000 Public Records
• 2009-05-14 Sold (MLS) $3,500 REALCOMP
• 2009-05-14 Sold (MLS) $3,500 MiRealSource-MiMLS
• 2009-03-25 Listing Removed — MiRealSource-MiMLS
• 2009-03-13 Listed $2,500 REALCOMP
• 2009-03-13 Listed $2,500 MiRealSource-MiMLS
• 2008-07-10 Listing Removed — REALCOMP
• 2008-03-25 Listed $19,900 REALCOMP
• 2005-07-14 Sold (Public Records) $83,700 Public Records
• 2004-08-01 Listing Removed — REALCOMP
• 2004-04-14 Listed $70,000 REALCOMP

Property tax history

+11.3%/yr

Latest (2025): $2,844 · +99.3% YoY. Source: county tax records.