19405 Pierson St · Detroit, MI 48219

$79,000

3 bd · 1.0 ba · 1,011 sqft · SingleFamily public records · 11 Days on market

Built 1948 5,663 sqft lot Est $107k · 26% 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
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * * CALLING ALL INVESTORS! This newly remodeled 3-bedroom, 2-bath brick bungalow is the perfect addition to your investment portfolio or an ideal starter home. With over $30K in upgrades, this turnkey property is move-in ready and maintenance-free. Recent 2022 updates include a new roof, furnace, hot water tank, refinished hardwood floors, updated bathrooms with new vanities, new blinds, and a fully renovated kitchen with new countertops. Investors will appreciate that the current owner/management company has a pre-qualified tenant ready to move in, though the home is being marketed to both investors and first-time buyers. With current rent comps in the area averaging $1,250/month, and yearly expenses - including taxes and insurance - totaling less than $3,000, this property offers a strong ROI and a healthy cap rate. Located in the quiet and well-maintained Martins Subdivision, this is an opportunity you don't want to miss!

Key facts

• Hot water tank
• New furnace
• Updated bathrooms

Tags

• NEW ROOF
• NEW FURNACE
• HOT WATER TANK
• REFINISHED HARDWOOD FLOORS
• UPDATED BATHROOMS
• NEW VANITIES

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick construction
• Construction: Brick construction
• Exterior features: Paved road frontage; Lot about 0.13 acres (43 x 132)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Partially finished basement; Total of 6 rooms

🏷️ Possibly a rental listed for sale. The $79,000 price doesn't fit this home's estimated sale value (~$107,166) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).

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 (+8.0%/yr); 308 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 38% of the median local income ($44k/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 $546 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 23 sale attempts since 30y 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.
• Current owner paid $65k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,000

Questions for the listing agent

1. Built in 1948 — 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: 1.74% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.34%
• DSCR: 1.77
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $107,166
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19711 Chapel St	0.40mi	3/1.0	1,014 (+0%)	1mo	$120,000	$118	80
19734 Westbrook St	0.27mi	3/1.0	950 (-6%)	2mo	$63,500	$67	76
19145 Fielding St	0.26mi	3/1.5	924 (-9%)	1mo	$98,000	$106	71
21338 Pembroke Ave	0.37mi	3/1.0	930 (-8%)	1mo	$115,000	$124	69
20300 Chapel St	0.67mi	3/1.0	1,043 (+3%)	1mo	$122,500	$117	63
19212 Northrop St	0.73mi	3/1.0	981 (-3%)	2mo	$65,000	$66	59
21700 Pembroke Ave	0.56mi	3/1.0	1,089 (+8%)	3mo	$155,000	$142	59
18924 Bentler St	0.51mi	3/1.0	920 (-9%)	3mo	$74,900	$81	59
18925 Bentler St	0.52mi	3/2.0	937 (-7%)	1mo	$79,900	$85	58
19971 Patton St	0.37mi	2/1.5 (-1)	901 (-11%)	3mo	$54,000	$60	55
18424 Fielding St	0.61mi	3/1.0	1,100 (+9%)	3mo	$40,000	$36	55
19749 Huntington Rd	0.73mi	3/1.5	1,093 (+8%)	0mo	$169,999	$156	50

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 1.68×
• Total profit: $14,959
• Equity at exit: $11,779

10-year hold

• IRR: 28.4%
• Equity multiple: 4.29×
• Total profit: $72,873
• Equity at exit: $6,830

Cash invested: $22,120 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 308
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,372 high
• Mortgage (P&I): −$414
• Tax from tax record: −$317 /mo · $3,809/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $320

Break-even live

Break-even rent $968

Max offer price $79,000

Occupancy floor 72%

Sensitivity live

Price	-10% $593	-5% $566	+0% $320	+5% $297	+10% $275
Rent	-10% $211	-5% $265	+0% $320	+5% $374	+10% $428
Rate	-1.0pp $359	-0.5pp $340	base $320	+0.5pp $299	+1.0pp $278

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19781 Fielding St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	6d	1	0.27mi
19810 Blackstone St Detroit, MI	3.0	1.0	1216	$1,395	$1.15	45d	1	0.28mi
21422 Pembroke Ave Detroit, MI	3.0	1.5	1000	$1,695	$1.70	18d	1	0.41mi
19457 Evergreen Rd Detroit, MI	2.0	1.0	1100	$1,200	$1.09	45d	1	0.45mi
20079 Patton St Detroit, MI	3.0	1.0	1150	$1,550	$1.35	6d	1	0.46mi
18556 Kentfield St Detroit, MI	3.0	1.0	952	$1,250	$1.31	4d	1	0.55mi
18437 Trinity St Detroit, MI	3.0	1.0	875	$1,364	$1.56	16d	1	0.57mi
18461 Heyden St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	6d	1	0.64mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	18d	1	0.66mi
21455 Pickford St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	0.70mi
19928 Houghton St Detroit, MI	3.0	1.0	880	$1,495	$1.70	12d	1	0.71mi
21434 Karl St Detroit, MI	2.0	1.0	1000	$1,350	$1.35	45d	1	0.72mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	25d	1	0.73mi
22238 Pembroke Ave Detroit, MI	3.0	1.5	1100	$1,500	$1.36	45d	1	0.75mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	25d	1	0.78mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	25d	1	0.79mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	16d	1	0.82mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	6d	1	0.83mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	45d	1	0.85mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	18d	1	0.87mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	18d	1	0.87mi
20555 Lahser Rd Detroit, MI	1.0–2.0	1.0	737	$975	$1.32	45d	2	0.87mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	25d	1	0.87mi
18450 Edinborough Rd Detroit, MI	3.0	1.0	1000	$1,500	$1.50	45d	1	0.89mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	45d	1	0.92mi
22570 Seven Mile W Detroit, MI	2.0	1.0	890	$875	$0.98	45d	1	0.94mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	13d	1	0.94mi
20271 Grandville Ave Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	0.94mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	18d	1	0.96mi
22649 Frisbee St Detroit, MI	3.0	1.0	1100	$1,495	$1.36	45d	1	1.00mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	45d	1	1.02mi
19800 Berg Rd Detroit, MI	3.0	1.0	1000	$1,550	$1.55	18d	1	1.03mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	18d	1	1.03mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	45d	1	1.08mi
47129 Wedgewood Southfield, MI	1.0–2.0	1.0–2.0	1000	$1,275	$1.27	45d	1	1.08mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.11mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	12d	1	1.11mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.12mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.12mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.14mi

Listing history 8 events

1. 2026-06-21
   days on market $79,000 Active 11 DOM
2. 2026-06-18
   days on market $79,000 Active 8 DOM
3. 2026-06-17
   days on market $79,000 Active 7 DOM
4. 2026-06-16
   days on market $79,000 Active 6 DOM
5. 2026-06-15
   days on market $79,000 Active 5 DOM
6. 2026-06-13
   days on market $79,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $79,000 Active 2 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: $3,809 · $317/mo
• Projected year-2 tax: $3,809 · $317/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 ≥98°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: $16,468
• − Mortgage interest: −$4,425
• − Property taxes: −$3,809
• − Insurance: −$395
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$2,298
• Taxable income: $2,906
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $3,137/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

+72.1% since first listed

49 events — show timeline

• 2026-06-10 Listed $79,000 REALCOMP
• 2026-06-10 Listed $79,000 MiRealSource-MiMLS
• 2025-10-02 Listing Removed — MiRealSource-MiMLS
• 2025-10-02 Listing Removed — REALCOMP
• 2025-06-27 Listed $99,000 MiRealSource-MiMLS
• 2025-06-27 Listed $99,000 REALCOMP
• 2025-06-24 Listing Removed — REALCOMP
• 2025-06-24 Listing Removed — MiRealSource-MiMLS
• 2025-03-26 Listed $115,000 REALCOMP
• 2025-03-26 Listed $115,000 MiRealSource-MiMLS
• 2023-06-22 Listing Removed — MiRealSource-MiMLS
• 2023-06-22 Listing Removed — REALCOMP
• 2023-03-22 Listed $110,000 MiRealSource-MiMLS
• 2023-03-22 Listed $110,000 REALCOMP
• 2023-03-13 Listing Removed — MiRealSource-MiMLS
• 2023-03-13 Listing Removed — REALCOMP
• 2022-12-13 Listed $79,000 MiRealSource-MiMLS
• 2022-12-13 Listed $79,000 REALCOMP
• 2021-05-27 Sold (Public Records) $65,000 Public Records
• 2008-12-02 Sold (MLS) $8,000 REALCOMP
• 2008-10-29 Listed $15,400 REALCOMP
• 2006-10-06 Sold (MLS) $79,900 MiRealSource-MiMLS
• 2006-10-06 Sold (MLS) $79,900 REALCOMP
• 2006-08-23 Listing Removed — MiRealSource-MiMLS
• 2006-07-14 Listing Removed — MiRealSource-MiMLS
• 2006-07-14 Listing Removed — REALCOMP
• 2006-07-14 Listed $84,900 MiRealSource-MiMLS
• 2006-07-14 Listed $84,900 REALCOMP
• 2006-07-11 Listing Removed — REALCOMP
• 2006-07-11 Listed $99,900 REALCOMP
• 2006-06-15 Listing Removed — REALCOMP
• 2006-06-15 Listed $99,900 REALCOMP
• 2006-06-09 Listing Removed — REALCOMP
• 2006-06-09 Listed $117,000 REALCOMP
• 2006-05-15 Listing Removed — REALCOMP
• 2006-05-15 Listed $117,000 REALCOMP
• 2006-04-29 Listing Removed — REALCOMP
• 2006-04-29 Listed $117,000 REALCOMP
• 2006-02-06 Listed $117,000 REALCOMP
• 2006-02-06 Listed $99,900 MiRealSource-MiMLS
• 2001-05-24 Sold (Public Records) $97,000 Public Records
• 2001-01-18 Listing Removed — REALCOMP
• 2000-12-29 Sold (MLS) $97,000 REALCOMP
• 2000-11-07 Listed $99,000 REALCOMP
• 2000-09-18 Listed $99,000 REALCOMP
• 1997-01-24 Sold (Public Records) $62,500 Public Records
• 1997-01-20 Sold (MLS) $62,500 REALCOMP
• 1996-10-12 Listed $62,500 REALCOMP
• 1995-01-19 Sold (Public Records) $45,900 Public Records

Property tax history

+13.0%/yr

Latest (2025): $3,809 · +0.2% YoY. Source: county tax records.