20257 Omira St · Detroit, MI 48203

$23,000

3 bd · 1.0 ba · 1,342 sqft · SingleFamily public records · 36 Days on market

Built 1929 3,485 sqft lot $17/sqft · 78% 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

Investment Opportunity – 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 1929
• Listed 36 days

Property features AI

Finance

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

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Brick exterior; Two-story home
• Exterior features: Brick construction; Lot approximately 0.08 acres; Lot dimensions: 3485

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Two levels; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $23k).
• Recommended offer: $22k (3.0% below list) — sets the bar for market timing.
• Cap rate 62.9% 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; 27 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 $1,575/mo this rent would consume 49% 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 $159 of loan paydown is wiped out by about $690 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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 $2k; list at $23k implies a 1294% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,310 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1929 — 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: 6.85% ✓
• Cap rate: 62.93%
• Cash-on-cash: 202.29%
• DSCR: 10.00
• GRM: 1.2

CMA / ARV

• ARV (median comp): $104,133
• List price: $23,000
• Delta: -77.91%
• 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
800 E Bernhard Ave	0.44mi	3/1.0	1,390 (+4%)	2mo	$175,000	$126	72
20070 Irvington St	0.18mi	3/1.5	1,515 (+13%)	1mo	$89,900	$59	68
20494 Orleans St	0.59mi	3/1.0	1,356 (+1%)	6mo	$55,000	$41	66
759 E Maxlow Ave	0.57mi	3/1.0	1,270 (-5%)	3mo	$180,000	$142	62
20473 Greeley St	0.43mi	3/1.0	1,179 (-12%)	0mo	$47,000	$40	59
350 E Muir Ave	0.31mi	4/2.0 (+1)	1,206 (-10%)	5mo	$135,000	$112	56
19640 Yacama Rd	0.45mi	3/1.0	1,156 (-14%)	1mo	$15,000	$13	55
1504 E Maxlow Ave	0.67mi	2/1.0 (-1)	1,296 (-3%)	4mo	$159,000	$123	54
20041 Marx St	0.63mi	3/1.5	1,233 (-8%)	2mo	$130,500	$106	53
1226 E Bernhard Ave	0.50mi	3/2.5	1,464 (+9%)	3mo	$285,000	$195	53
19710 Greeley St	0.59mi	3/1.5	1,143 (-15%)	3mo	$80,000	$70	43
1483 E Evelyn Ave	0.74mi	3/2.0	1,500 (+12%)	3mo	$216,500	$144	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: 11.16×
• Total profit: $65,441
• Equity at exit: $3,429

10-year hold

• IRR: —
• Equity multiple: 23.69×
• Total profit: $146,115
• Equity at exit: $1,989

Cash invested: $6,440 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$121
• Tax est. 1.5%: −$29 /mo · $345/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $1,086

Break-even live

Break-even rent $201

Max offer price $23,000

Occupancy floor 26%

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.41mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	21d	1	0.42mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	1d	1	0.43mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	0.43mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	10d	1	0.56mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	1d	1	0.70mi
1330 E Chesterfield St Ferndale, MI	4.0	2.0	1795	$2,800	$1.56	1d	1	0.81mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	0.82mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	0.85mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	21d	1	0.98mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	21d	1	0.99mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.09mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	1.15mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	1.16mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.16mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	4d	1	1.21mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	21d	1	1.21mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	43d	1	1.24mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	1.29mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.31mi
394 Hilton Rd #101 Ferndale, MI	2.0	2.0	1506	$2,500	$1.66	3d	1	1.35mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	4d	1	1.38mi
23304 Cayuga Ave Hazel Park, MI	4.0	2.0	1540	$2,150	$1.40	24d	1	1.39mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	14d	1	1.40mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	24d	1	1.41mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	10d	1	1.43mi
23400 Reynolds Ave Hazel Park, MI	3.0	1.0	1305	$1,900	$1.46	5d	1	1.48mi

Listing history 30 events

1. 2026-06-18
   days on market $23,000 Active 36 DOM
2. 2026-06-17
   days on market $23,000 Active 35 DOM
3. 2026-06-15
   days on market $23,000 Active 33 DOM
4. 2026-06-13
   days on market $23,000 Active 31 DOM
5. 2026-06-13
   days on market $23,000 Active 30 DOM
6. 2026-06-09
   days on market $23,000 Active 27 DOM
7. 2026-06-08
   days on market $23,000 Active 26 DOM
8. 2026-06-07
   days on market $23,000 Active 25 DOM
9. 2026-06-04
   days on market $23,000 Active 22 DOM
10. 2026-06-03
    days on market $23,000 Active 21 DOM
11. 2026-06-02
    days on market $23,000 Active 20 DOM
12. 2026-06-01
    days on market $23,000 Active 19 DOM
13. 2026-05-31
    days on market $23,000 Active 18 DOM
14. 2026-05-13
    listed $23,000 Active 246-char remark

    Show marketing remark (246 chars)

    Investment Opportunity – 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. 2026-05-13
    listed $23,000 Active 252-char remark

    Show marketing remark (246 chars)

    Investment Opportunity – 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. 2010-01-11
    soldstatus $1,650

    Show marketing remark (354 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . Uninsured. Bids due by 12-8-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

17. 2009-12-04
    listed $1,500

    Show marketing remark (354 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . Uninsured. Bids due by 12-8-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

18. 2009-12-04
    historical

    Show marketing remark (354 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . Uninsured. Bids due by 12-8-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

19. 2009-10-08
    listed $1,500
20. 2009-10-08
    historical
21. 2009-07-17
    listed $1,500
22. 2009-07-17
    historical
23. 2009-06-12
    listed $1,500
24. 2009-06-11
    historical
25. 2009-05-15
    listed $1,500
26. 2009-05-14
    historical
27. 2008-10-31
    listed $4,000
28. 2004-10-22
    soldstatus $67,000
29. 2004-04-01
    soldstatus $67,000
30. 2004-03-10
    listed $67,000

ⓘ 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 2/10 Low 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: $18,905
• − Mortgage interest: −$1,288
• − Property taxes: −$345
• − Insurance: −$115
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$669
• Taxable income: $13,463
• Est. tax owed @ 24.0%: −$3,231
• After-tax cash flow: $9,796/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

-65.7% since first listed

17 events — show timeline

• 2026-05-13 Listed $23,000 REALCOMP
• 2026-05-13 Listed $23,000 MiRealSource-MiMLS
• 2010-01-11 Sold (MLS) $1,650 REALCOMP
• 2009-12-04 Listing Removed — REALCOMP
• 2009-12-04 Listed $1,500 REALCOMP
• 2009-10-08 Listing Removed — REALCOMP
• 2009-10-08 Listed $1,500 REALCOMP
• 2009-07-17 Listing Removed — REALCOMP
• 2009-07-17 Listed $1,500 REALCOMP
• 2009-06-12 Listed $1,500 REALCOMP
• 2009-06-11 Listing Removed — REALCOMP
• 2009-05-15 Listed $1,500 REALCOMP
• 2009-05-14 Listing Removed — REALCOMP
• 2008-10-31 Listed $4,000 REALCOMP
• 2004-10-22 Sold (Public Records) $67,000 Public Records
• 2004-04-01 Sold (MLS) $67,000 REALCOMP
• 2004-03-10 Listed $67,000 REALCOMP

Property tax history

+2.8%/yr

Latest (2025): $1,940 · +1.1% YoY. Source: county tax records.