20145 Omira St · Detroit, MI 48203

$12,000

3 bd · 1.5 ba · 1,596 sqft · SingleFamily public records · 37 Days on market

Built 1927 3,485 sqft lot $8/sqft · 90% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

Key facts

• 3,485 sq ft lot
• Built 1927
• Listed 37 days

Property features AI

Finance

• Financial info: Annual taxes listed
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Asphalt construction materials
• Exterior features: Lot approximately 0.08 acres; Lot dimensions: 3485

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Has basement; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $12k).
• Recommended offer: $12k (3.0% below list) — sets the bar for market timing.
• Cap rate 134.5% 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: 216 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1,728/mo this rent would consume 54% of the median local household income ($38k/yr) (locally 1192% 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 $83 of loan paydown is wiped out by about $360 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $11,640 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1927 — 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. 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: 14.40% ✓
• Cap rate: 134.51%
• Cash-on-cash: 457.91%
• DSCR: 21.37
• GRM: 0.6

CMA / ARV

• ARV (median comp): $119,707
• List price: $12,000
• Delta: -89.98%
• 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
20070 Irvington St	0.10mi	3/1.5	1,515 (-5%)	1mo	$89,900	$59	86
751 E Maxlow Ave	0.67mi	3/1.0	1,591 (-0%)	8mo	$178,000	$112	60
19657 Cardoni St	0.39mi	3/1.0	1,765 (+11%)	4mo	$22,000	$12	58
20207 Russell St	0.28mi	3/2.0	1,777 (+11%)	9mo	$135,000	$76	58
21420 Caledonia Ave	0.69mi	3/1.0	1,620 (+2%)	8mo	$210,000	$130	57
603 E Maxlow Ave	0.68mi	2/1.5 (-1)	1,598 (+0%)	9mo	$180,000	$113	56
20166 Riopelle St	0.51mi	3/1.0	1,450 (-9%)	7mo	$103,000	$71	53
1226 E Bernhard Ave	0.59mi	3/2.5	1,464 (-8%)	3mo	$285,000	$195	52
800 E Bernhard Ave	0.54mi	3/1.0	1,390 (-13%)	2mo	$175,000	$126	49
404 W Muir Ave	0.69mi	2/1.0 (-1)	1,476 (-8%)	9mo	$135,000	$91	40
20494 Orleans St	0.62mi	3/1.0	1,356 (-15%)	6mo	$55,000	$41	39
305 W Hayes Ave	0.67mi	3/1.5	1,365 (-14%)	7mo	$230,000	$168	39

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: —
• Equity multiple: 24.73×
• Total profit: $79,743
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 52.99×
• Total profit: $174,697
• Equity at exit: $1,038

Cash invested: $3,360 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,728 high
• Mortgage (P&I): −$63
• Tax est. 1.5%: −$15 /mo · $180/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $1,282

Break-even live

Break-even rent $105

Max offer price $12,000

Occupancy floor 21%

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	0.47mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	11d	1	0.60mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	2d	1	0.76mi
1330 E Chesterfield St Ferndale, MI	4.0	2.0	1795	$2,800	$1.56	2d	1	0.84mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.98mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.09mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.09mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	1.15mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.18mi
394 Hilton Rd #101 Ferndale, MI	2.0	2.0	1506	$2,500	$1.66	3d	1	1.37mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	5d	1	1.43mi
23304 Cayuga Ave Hazel Park, MI	4.0	2.0	1540	$2,150	$1.40	24d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $12,000 Active 37 DOM
2. 2026-06-17
   days on market $12,000 Active 36 DOM
3. 2026-06-15
   days on market $12,000 Active 34 DOM
4. 2026-06-13
   days on market $12,000 Active 32 DOM
5. 2026-06-13
   pricedays on market $12,000 Active 31 DOM
6. 2026-06-09
   days on market $15,000 Active 28 DOM
7. 2026-06-08
   days on market $15,000 Active 27 DOM
8. 2026-06-07
   days on market $15,000 Active 26 DOM
9. 2026-06-04
   days on market $15,000 Active 23 DOM
10. 2026-06-03
    days on market $15,000 Active 22 DOM
11. 2026-06-02
    days on market $15,000 Active 21 DOM
12. 2026-06-01
    days on market $15,000 Active 20 DOM
13. 2026-05-31
    days on market $15,000 Active 19 DOM
14. 2026-05-12
    listed $15,000 Active 215-char remark

    Show marketing remark (215 chars)

    Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

15. 2026-05-12
    listed $15,000 Active 215-char remark

    Show marketing remark (215 chars)

    Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

16. 2000-07-24
    soldstatus $46,537

ⓘ 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 ≥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: $20,736
• − Mortgage interest: −$672
• − Property taxes: −$180
• − Insurance: −$60
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$349
• Taxable income: $16,157
• Est. tax owed @ 24.0%: −$3,878
• After-tax cash flow: $11,508/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

-74.2% since first listed

5 events — show timeline

• 2026-06-11 Price Changed $12,000 MiRealSource-MiMLS
• 2026-06-11 Price Changed $12,000 REALCOMP
• 2026-05-12 Listed $15,000 REALCOMP
• 2026-05-12 Listed $15,000 MiRealSource-MiMLS
• 2000-07-24 Sold (Public Records) $46,537 Public Records

Property tax history

+19.4%/yr

Latest (2025): $2,380 · +0.9% YoY. Source: county tax records.