19671 Hoover St · Detroit, MI 48205

$48,000

2 bd · 1.0 ba · 733 sqft · SingleFamily public records · 10 Days on market

Built 1949 4,356 sqft lot Est $36k · 34% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

19671 Hoover St, Detroit - 2BR ranch w/ basement listed at $48,000. Solid floors, updated electrical panel, and kitchen includes stainless refrigerator + stove. Major basics are done; cosmetic updates needed. Strong starter home or investment play. Home offers strong fundamentals: newer hot water tank, updated/functional electrical, working heat, and seller reports no known foundation, plumbing, or major mechanical issues.

Key facts

• 4,356 sq ft lot
• Built 1949
• Listed 10 days

Property features AI

Finance

• Other: Pets allowed with no stated restrictions
• Financial info: Has assessments

Exterior

• Utilities: Public water; Public sanitary sewer
• Home design: Residential property; One-story structure; Built in 1949; Facing west side of the street (west side location noted in directions)
• Construction: Aluminum construction; Basement foundation
• Exterior features: Aluminum exterior; Road frontage

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Bedroom(s) located on the first floor; One bedroom measures approximately 10 x 10
• Flooring: Laminate flooring in the living room
• Bathrooms: 1 full bathroom (located on the first floor)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 5 rooms; Has basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Cap rate 20.1% 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: 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.
• Zoned schools: Osborn High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 407 students, 92% FRL) — zoned schools at 92% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 376 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 ($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 $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.52% ✓
• Cap rate: 20.06%
• Cash-on-cash: 49.16%
• DSCR: 3.19
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $35,917
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20091 Annott St	0.38mi	2/1.0	747 (+2%)	1mo	$12,800	$17	78
19735 Annott St	0.14mi	3/1.0 (+1)	780 (+6%)	4mo	$69,500	$89	74
19726 Runyon St	0.10mi	2/1.0	700 (-4%)	20mo	$31,000	$44	72
20083 Bradford St	0.40mi	2/1.0	648 (-12%)	0mo	$24,000	$37	62
19960 Bradford St	0.32mi	3/1.0 (+1)	786 (+7%)	10mo	$10,000	$13	60
20520 Dresden St	0.61mi	2/1.5	680 (-7%)	0mo	$33,000	$49	57
19758 Waltham St	0.54mi	3/1.0 (+1)	790 (+8%)	3mo	$6,000	$8	54
20061 Westphalia St	0.71mi	2/1.0	712 (-3%)	13mo	$75,000	$105	51
19722 Waltham St	0.53mi	2/1.0	842 (+15%)	12mo	$50,000	$59	40
20310 Hamburg St	0.64mi	3/1.0 (+1)	829 (+13%)	7mo	$35,000	$42	38
11376 Rivard Ave	0.71mi	3/1.0 (+1)	829 (+13%)	8mo	$105,000	$127	33
8354 Suzanne St	0.73mi	3/1.5 (+1)	783 (+7%)	20mo	$50,000	$64	31

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: 44.8%
• Equity multiple: 2.89×
• Total profit: $25,358
• Equity at exit: $7,157

10-year hold

• IRR: 49.9%
• Equity multiple: 5.43×
• Total profit: $59,570
• Equity at exit: $4,150

Cash invested: $13,440 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$252
• Tax from tax record: −$132 /mo · $1,585/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $551

Break-even live

Break-even rent $511

Max offer price $48,000

Occupancy floor 49%

Sensitivity live

Price	-10% $578	-5% $564	+0% $551	+5% $537	+10% $523
Rent	-10% $455	-5% $503	+0% $551	+5% $598	+10% $646
Rate	-1.0pp $575	-0.5pp $563	base $551	+0.5pp $538	+1.0pp $526

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	0.22mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	45d	1	0.22mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	18d	1	0.65mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.99mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	45d	1	1.10mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	45d	1	1.25mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	1.27mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	25d	1	1.31mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	19d	1	1.35mi

Listing history 11 events

1. 2026-06-21
   days on market $48,000 Active 10 DOM
2. 2026-06-18
   days on market $48,000 Active 7 DOM
3. 2026-06-17
   days on market $48,000 Active 6 DOM
4. 2026-06-16
   days on market $48,000 Active 5 DOM
5. 2026-06-15
   days on market $48,000 Active 4 DOM
6. 2026-06-13
   days on market $48,000 Active 2 DOM
7. 2026-06-13
   statusdays on marketlisting id $48,000 Active 1 DOM
8. 2026-06-09
   days on market $48,000 Coming Soon 5 DOM
9. 2026-06-08
   days on market $48,000 Coming Soon 4 DOM
10. 2026-06-07
    remarks 426-char remark
11. 2026-06-07
    listed $48,000 Coming Soon 3 DOM

ⓘ 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: $1,585 · $132/mo
• Projected year-2 tax: $1,585 · $132/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 ≥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: $14,497
• − Mortgage interest: −$2,689
• − Property taxes: −$1,585
• − Insurance: −$240
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$1,396
• Taxable income: $6,268
• Est. tax owed @ 24.0%: −$1,504
• After-tax cash flow: $5,103/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

1 event — show timeline

• 2026-06-04 Coming Soon $48,000 MiRealSource-MiMLS

Property tax history

+1.5%/yr

Latest (2025): $1,585 · -0.0% YoY. Source: county tax records.