20493 Ilene St · Detroit, MI 48221

$44,900

3 bd · 1.0 ba · 910 sqft · SingleFamily public records · 38 Days on market

Built 1958 4,792 sqft lot $49/sqft · 45% below area Est $81k · 45% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at this 3-bedroom, 1-bath home located in a well-established Detroit neighborhood. Featuring a spacious living room, generously sized kitchen, and functional layout, this property offers great potential for investors, renovators, or buyers looking to add their personal touch. Conveniently located near major roads, shopping, schools, and local amenities. Bring your vision and make this property shine again!

Key facts

• 4,792 sq ft lot
• Built 1958
• Listed 38 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Paved road access
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Brick construction; Brick/mortar foundation; Asphalt roof; Built above-grade living area of 910 (square feet)
• Exterior features: Outdoor lighting; Covered patio and porch; Porch; Back yard fenced

Interior

• Bedrooms: 5 total rooms (includes all living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Gas water heater; Unfinished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.3% vs local median 10.2% 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 (+3.4%/yr); 349 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 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 + 3.4% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 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 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1958 — 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: 3.13% ✓
• Cap rate: 27.33%
• Cash-on-cash: 75.13%
• DSCR: 4.34
• GRM: 2.7

CMA / ARV

• ARV (median comp): $81,224
• List price: $44,900
• Delta: -44.72%
• 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
20428 Monte Vista St	0.26mi	3/1.0	872 (-4%)	2mo	$55,000	$63	79
20218 Monte Vista St	0.28mi	3/2.0	860 (-6%)	1mo	$37,000	$43	73
20047 Monte Vista St	0.38mi	2/1.5 (-1)	877 (-4%)	1mo	$69,999	$80	68
19929 Monte Vista St	0.47mi	3/1.0	860 (-6%)	2mo	$75,000	$87	68
20403 Manor St	0.34mi	3/2.0	968 (+6%)	2mo	$57,000	$59	67
20209 Meyers Rd	0.42mi	2/1.0 (-1)	864 (-5%)	1mo	$40,000	$46	66
20501 Northlawn St	0.45mi	3/1.0	992 (+9%)	3mo	$90,000	$91	61
19985 Meyers Rd	0.51mi	2/1.0 (-1)	844 (-7%)	2mo	$51,900	$61	58
20018 Wyoming Ave	0.33mi	3/1.0	1,043 (+15%)	4mo	$66,500	$64	57
20242 Ward St	0.59mi	3/1.0	982 (+8%)	4mo	$80,000	$81	56
20233 Roselawn St	0.53mi	2/1.0 (-1)	829 (-9%)	2mo	$33,000	$40	53
20115 Ward St	0.65mi	3/1.0	1,000 (+10%)	4mo	$160,000	$160	49

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 75.5%
• Equity multiple: 4.46×
• Total profit: $43,508
• Equity at exit: $6,695

10-year hold

• IRR: 79.3%
• Equity multiple: 9.36×
• Total profit: $105,142
• Equity at exit: $3,882

Cash invested: $12,572 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$235
• Tax from tax record: −$69 /mo · $832/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $787

Break-even live

Break-even rent $410

Max offer price $44,900

Occupancy floor 39%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	0.01mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	17d	1	0.07mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	24d	1	0.19mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	18d	1	0.26mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	17d	1	0.29mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	44d	1	0.30mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	3d	1	0.36mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	0.39mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	0.39mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	17d	1	0.44mi
21374 Ithaca Ave Ferndale, MI	3.0	1.0	996	$1,775	$1.78	24d	1	0.47mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	17d	1	0.49mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	17d	1	0.55mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	44d	1	0.66mi
10400 Saratoga St Oak Park, MI	2.0	1.0	829	$1,450	$1.75	5d	1	0.93mi
22811 Rosewood St Oak Park, MI	3.0	1.0	1000	$1,600	$1.60	24d	1	0.94mi
10020 Corning St Oak Park, MI	2.0	1.0	829	$1,400	$1.69	24d	1	0.97mi
19474 Schaefer Hwy Detroit, MI	2.0	1.0	896	$1,075	$1.20	5d	1	1.04mi
578 Kensington Ave Ferndale, MI	2.0	1.0	860	$1,600	$1.86	5d	1	1.05mi
10050 W Nine Mile Rd Unit 18 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	5d	1	1.06mi
10000 W Nine Mile Rd Unit 3 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	44d	1	1.07mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	17d	1	1.07mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	44d	1	1.09mi
21800 Coolidge Hwy Oak Park, MI	1.0–2.0	1.0	938	$1,300	$1.39	24d	3	1.12mi
21880 Coolidge Hwy #203 Oak Park, MI	2.0	1.0	938	$1,300	$1.39	24d	1	1.14mi
21850 Coolidge Hwy #203 Oak Park, MI	3.0	2.0	1100	$1,700	$1.55	5d	1	1.14mi
1491 W Nine Mile Rd Unit 9 Ferndale, MI	2.0	1.0	900	$1,350	$1.50	44d	1	1.14mi
18675 Meyers Rd Unit 18677 Detroit, MI	2.0	1.0	942	$1,100	$1.17	44d	1	1.17mi
12800 W 9 Mile Rd Oak Park, MI	1.0–2.0	1.0	775	$1,250	$1.61	24d	1	1.18mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	4d	1	1.18mi
22148 Dante St #212 Oak Park, MI	2.0	2.0	916	$1,475	$1.61	22d	1	1.20mi
22148 Dante St #211 Oak Park, MI	2.0	1.0	916	$1,475	$1.61	24d	1	1.20mi
22148 Dante St #211 Oak Park, MI	2.0	2.0	916	$1,475	$1.61	18d	1	1.20mi
22108 Dante St Oak Park, MI	2.0	1.0	898	$1,250	$1.39	24d	1	1.20mi
22108 Dante St #115 Oak Park, MI	2.0	2.0	898	$1,250	$1.39	24d	1	1.22mi
1260 W Nine Mile Rd Unit 13 Ferndale, MI	2.0	1.0	1000	$1,399	$1.40	15d	1	1.26mi
23511 Majestic St Oak Park, MI	3.0	1.0	1100	$1,750	$1.59	24d	1	1.37mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	24d	1	1.37mi
20643 Stratford Rd Unit 1 Detroit, MI	2.0	1.5	1000	$1,250	$1.25	44d	1	1.39mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	24d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $44,900 Active 38 DOM
2. 2026-06-17
   days on market $44,900 Active 37 DOM
3. 2026-06-15
   days on market $44,900 Active 35 DOM
4. 2026-06-13
   days on market $44,900 Active 33 DOM
5. 2026-06-13
   days on market $44,900 Active 32 DOM
6. 2026-06-09
   days on market $44,900 Active 29 DOM
7. 2026-06-08
   days on market $44,900 Active 28 DOM
8. 2026-06-07
   days on market $44,900 Active 27 DOM
9. 2026-06-04
   days on market $44,900 Active 24 DOM
10. 2026-06-03
    days on market $44,900 Active 23 DOM
11. 2026-06-02
    days on market $44,900 Active 22 DOM
12. 2026-06-01
    days on market $44,900 Active 21 DOM
13. 2026-05-31
    days on market $44,900 Active 20 DOM
14. 2026-05-11
    listed $44,900 Active 428-char remark

    Show marketing remark (428 chars)

    Opportunity awaits at this 3-bedroom, 1-bath home located in a well-established Detroit neighborhood. Featuring a spacious living room, generously sized kitchen, and functional layout, this property offers great potential for investors, renovators, or buyers looking to add their personal touch. Conveniently located near major roads, shopping, schools, and local amenities. Bring your vision and make this property shine again!

15. 2026-05-11
    listed $44,900 Active 428-char remark

    Show marketing remark (428 chars)

    Opportunity awaits at this 3-bedroom, 1-bath home located in a well-established Detroit neighborhood. Featuring a spacious living room, generously sized kitchen, and functional layout, this property offers great potential for investors, renovators, or buyers looking to add their personal touch. Conveniently located near major roads, shopping, schools, and local amenities. Bring your vision and make this property shine again!

ⓘ 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: $832 · $69/mo
• Projected year-2 tax: $832 · $69/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 ≥97°F today · 15 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: $16,870
• − Mortgage interest: −$2,515
• − Property taxes: −$832
• − Insurance: −$224
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$1,306
• Taxable income: $9,293
• Est. tax owed @ 24.0%: −$2,230
• After-tax cash flow: $7,215/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $44,900 MiRealSource-MiMLS
• 2026-05-11 Listed $44,900 REALCOMP

Property tax history

-1.6%/yr

Latest (2025): $832 · -31.1% YoY. Source: county tax records.