20080 Lexington · Redford, MI 48240

$120,000

3 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 23 Days on market

Built 1978 Est $153k · 22% 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Nice area fenced in yard and anotht fenced in area for your pet. It has two large tree lots plenty of shade, play area for children, running area for pets and it& apos; s a quite, friendly neighborhood, schools close by , shopping and much more, priced under Market value and price is low and still willing to go lower MAKE ME AN OFFER SELLER DETERMINED ANY REASONABLE OFFER WILL BE ACCEPTED immediate occupancy It& apos; s ready for you to move in There is a 3rd bedroom, unfinished and area for a second bathroom unfinished This has easy potential to be a three bedroom two bath home for very little material and labor Call 989 808-2180 or TXT or email [email protected]

Key facts

• Shopping close by
• Large tree lots
• Fenced in yard

Tags

• FENCED IN YARD
• LARGE TREE LOTS
• PLAY AREA FOR CHILDREN
• RUNNING AREA FOR PETS
• SCHOOLS CLOSE BY
• SHOPPING CLOSE BY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 86 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $830 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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. 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.
4. 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.
5. 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: 1.23% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.95%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $153,010
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19941 Woodworth	0.18mi	4/1.0 (+1)	1,051 (-2%)	1mo	$130,000	$124	82
19930 Gaylord	0.21mi	3/1.0	1,007 (-6%)	2mo	$131,000	$130	79
19470 Woodworth Ave	0.39mi	3/1.0	1,000 (-6%)	1mo	$175,000	$175	70
20019 Macarthur St	0.07mi	2/1.0 (-1)	936 (-12%)	2mo	$149,000	$159	69
19953 Wakenden	0.26mi	3/2.0	1,162 (+9%)	2mo	$209,000	$180	68
19969 Indian	0.37mi	2/1.0 (-1)	1,005 (-6%)	2mo	$144,000	$143	66
19910 Seminole	0.53mi	3/1.0	1,026 (-4%)	2mo	$108,000	$105	66
19968 Poinciana	0.45mi	3/1.0	980 (-8%)	2mo	$137,000	$140	63
20503 Centralia	0.38mi	3/2.0	1,197 (+12%)	1mo	$170,000	$142	58
19369 Wakenden	0.53mi	3/1.0	936 (-12%)	3mo	$120,000	$128	52
20558 Seminole	0.54mi	3/2.0	1,200 (+12%)	3mo	$204,900	$171	48
20922 Negaunee St	0.56mi	2/1.0 (-1)	915 (-14%)	3mo	$169,900	$186	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $7,193
• Equity at exit: $17,892

10-year hold

• IRR: 14.9%
• Equity multiple: 2.20×
• Total profit: $40,485
• Equity at exit: $10,375

Cash invested: $33,600 (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 48240

• Active inventory: 86
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,475 high
• Mortgage (P&I): −$629
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $419

Break-even live

Break-even rent $945

Max offer price $120,000

Occupancy floor 67%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20516 Denby Redford, MI	4.0	1.5	950	$1,800	$1.89	18d	1	0.34mi
20524 Indian Redford, MI	3.0	1.0	988	$1,600	$1.62	24d	1	0.40mi
20772 Indian St Southfield, MI	4.0	1.0	1272	$1,800	$1.42	43d	1	0.50mi
20091 Inkster Rd Livonia, MI	2.0	1.0	756	$1,400	$1.85	5d	1	0.63mi
19354 Seminole Redford, MI	3.0	1.0	1050	$1,450	$1.38	24d	1	0.72mi
25740 Shiawassee St Southfield, MI	1.0–2.0	1.0	850	$1,253	$1.47	43d	10	0.75mi
26539 Clarita Redford, MI	3.0	1.5	931	$1,875	$2.01	24d	1	0.82mi
21335 Negaunee Unit 1542196P Southfield, MI	3.0	1.0	850	$3,345	$3.94	5d	1	0.82mi
25400 Basin St Southfield, MI	1.0–2.0	1.0	825	$1,400	$1.70	5d	11	0.83mi
27045 Shiawassee Rd Southfield, MI	3.0	1.0	705	$1,450	$2.06	18d	1	0.84mi
20745 Saint Francis Unit 208 Farmington Hills, MI	2.0	1.0	900	$1,395	$1.55	15d	1	0.90mi
20745 Saint Francis Unit 101 Farmington Hills, MI	2.0	1.0	900	$1,495	$1.66	43d	1	0.90mi
20410 Five Points St Redford, MI	3.0	1.0	950	$1,600	$1.68	5d	1	0.91mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	11d	1	0.94mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	5d	1	0.94mi
21337 Inkster Rd Unit (NO) Farmington Hills, MI	2.0	1.0	811	$1,295	$1.60	43d	1	0.94mi
18732 Salem Unit 2 Detroit, MI	2.0	1.0	925	$1,050	$1.14	12d	1	1.26mi
28532 Grayling Ave Farmington Hills, MI	2.0	1.0	700	$1,395	$1.99	24d	1	1.32mi
18405 Gillman St Livonia, MI	3.0	2.0	1014	$1,950	$1.92	5d	1	1.42mi
19800 Telegraph Rd Detroit, MI	2.0	1.0	855	$1,020	$1.19	43d	1	1.48mi
19264 Telegraph Rd Unit G7 Detroit, MI	2.0	1.0	820	$975	$1.19	43d	1	1.50mi
19276 Telegraph Rd Detroit, MI	2.0	1.0	820	$975	$1.19	43d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $120,000 Active 23 DOM
2. 2026-06-17
   days on market $120,000 Active 22 DOM
3. 2026-06-16
   days on market $120,000 Active 21 DOM
4. 2026-06-15
   days on market $120,000 Active 20 DOM
5. 2026-06-13
   days on market $120,000 Active 18 DOM
6. 2026-06-13
   days on market $120,000 Active 17 DOM
7. 2026-06-09
   days on market $120,000 Active 14 DOM
8. 2026-06-08
   days on market $120,000 Active 13 DOM
9. 2026-06-07
   days on market $120,000 Active 12 DOM
10. 2026-06-04
    days on market $120,000 Active 9 DOM
11. 2026-06-03
    days on market $120,000 Active 8 DOM
12. 2026-06-02
    days on market $120,000 Active 7 DOM
13. 2026-06-01
    days on market $120,000 Active 6 DOM
14. 2026-05-31
    days on market $120,000 Active 5 DOM
15. 2026-05-27
    listed $120,000 Active

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$521/yr (+$43/mo · 64.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 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: $17,698
• − Mortgage interest: −$6,722
• − Property taxes: −$806
• − Insurance: −$600
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$3,491
• Taxable income: $3,248
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $4,245/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 36,976
• Population (ZIP): 17,097

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 45% Black 40% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Chinese 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: ▼ -177.98%
• Current HPI: 236.2958
• Rent YoY: —
• Metro: —
• 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

• 2026-05-27 Listed $120,000 FSBO.com

Property tax history

-2.4%/yr

Latest (2025): $806 · -60.1% YoY. Source: county tax records.