20203 Hull St · Detroit, MI 48203

$37,999

4 bd · 1.0 ba · 1,490 sqft · SingleFamily public records · 41 Days on market

Built 1930 3,485 sqft lot $26/sqft · 40% below area Est $53k · 28% under

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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 +15.0/15.0
• 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

LAND CONTRACT AVAILABLE Great Starter Home or Investment Opportunity! This home sits on a double lot and needs some work, but it has solid potential. Perfect for a first-time buyer willing to renovate, or an investor looking for a flip or rental property. Convenient location near schools, parks, and major transportation routes. Sold As-Is.

Key facts

• 3,485 sq ft lot
• Built 1930
• Listed 40 days

Property features AI

Exterior

• Parking: Driveway, no garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.08 acres (35 x 100)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 4 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.
• Cap rate 37.9% vs local median 10.1% 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: 218 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,601/mo this rent would consume 50% 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 $262 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 + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 23y 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 $4k; list at $38k implies a 986% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,859 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1930 — 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: 4.21% ✓
• Cap rate: 37.93%
• Cash-on-cash: 113.00%
• DSCR: 6.03
• GRM: 2.0

CMA / ARV

• ARV (median comp): $52,879
• List price: $37,999
• Delta: -28.14%
• 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
20166 Riopelle St	0.14mi	3/1.0 (-1)	1,450 (-3%)	7mo	$103,000	$71	78
20070 Irvington St	0.46mi	3/1.5 (-1)	1,515 (+2%)	1mo	$89,900	$59	68
20494 Orleans St	0.27mi	3/1.0 (-1)	1,356 (-9%)	6mo	$55,000	$41	62
1226 E Bernhard Ave	0.50mi	3/2.5 (-1)	1,464 (-2%)	3mo	$285,000	$195	60
1483 E Evelyn Ave	0.67mi	3/2.0 (-1)	1,500 (+1%)	3mo	$216,500	$144	56
19942 Saint Aubin St	0.44mi	3/1.0 (-1)	1,350 (-9%)	4mo	$38,000	$28	55
800 E Bernhard Ave	0.60mi	3/1.0 (-1)	1,390 (-7%)	2mo	$175,000	$126	54
1744 E Madge Ave	0.72mi	3/1.0 (-1)	1,439 (-3%)	6mo	$158,000	$110	50
19415 Riopelle St	0.50mi	3/1.5 (-1)	1,350 (-9%)	6mo	$85,000	$63	49
751 E Maxlow Ave	0.72mi	3/1.0 (-1)	1,591 (+7%)	8mo	$178,000	$112	44
21420 Caledonia Ave	0.75mi	3/1.0 (-1)	1,620 (+9%)	8mo	$210,000	$130	39
759 E Maxlow Ave	0.71mi	3/1.0 (-1)	1,270 (-15%)	3mo	$180,000	$142	35

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: 6.42×
• Total profit: $57,680
• Equity at exit: $5,666

10-year hold

• IRR: —
• Equity multiple: 13.45×
• Total profit: $132,496
• Equity at exit: $3,285

Cash invested: $10,640 (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: 218
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,601 high
• Mortgage (P&I): −$199
• Tax est. 1.5%: −$47 /mo · $570/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $1,002

Break-even live

Break-even rent $332

Max offer price $37,999

Occupancy floor 32%

Sensitivity live

Price	-10% $1,028	-5% $1,015	+0% $1,002	+5% $989	+10% $976
Rent	-10% $875	-5% $939	+0% $1,002	+5% $1,065	+10% $1,128
Rate	-1.0pp $1,021	-0.5pp $1,012	base $1,002	+0.5pp $992	+1.0pp $982

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20008 Hull St Highland Park, MI	5.0	2.0	1332	$1,600	$1.20	17d	1	0.17mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	0.31mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	0.47mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	0.51mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.59mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,364	$5.80	0d	1	0.64mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.70mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	25d	1	0.71mi
429 E Milton Ave Hazel Park, MI	3.0	2.0	1075	$1,595	$1.48	0d	1	0.73mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.75mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	12d	1	0.95mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.01mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	1.07mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	6d	1	1.09mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	1.10mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	25d	1	1.11mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.18mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.19mi
1330 E Chesterfield St Ferndale, MI	4.0	2.0	1795	$2,800	$1.56	0d	1	1.20mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.26mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.27mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	25d	1	1.31mi
19458 Binder St Detroit, MI	3.0	1.5	1550	$1,500	$0.97	4d	1	1.34mi
23304 Cayuga Ave Hazel Park, MI	4.0	2.0	1540	$2,150	$1.40	25d	1	1.43mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	22d	1	1.44mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	12d	1	1.50mi

Listing history 50 events

1. 2026-06-21
   days on market $37,999 Active 41 DOM
2. 2026-06-18
   days on market $37,999 Active 38 DOM
3. 2026-06-17
   days on market $37,999 Active 37 DOM
4. 2026-06-15
   days on market $37,999 Active 35 DOM
5. 2026-06-13
   days on market $37,999 Active 33 DOM
6. 2026-06-13
   days on market $37,999 Active 32 DOM
7. 2026-06-09
   days on market $37,999 Active 29 DOM
8. 2026-06-08
   days on market $37,999 Active 28 DOM
9. 2026-06-07
   days on market $37,999 Active 27 DOM
10. 2026-06-04
    days on market $37,999 Active 24 DOM
11. 2026-06-03
    days on market $37,999 Active 23 DOM
12. 2026-06-02
    days on market $37,999 Active 22 DOM
13. 2026-06-01
    days on market $37,999 Active 21 DOM
14. 2026-05-31
    days on market $37,999 Active 20 DOM
15. 2026-05-12
    listed $37,999 Active 317-char remark

    Show marketing remark (341 chars)

    LAND CONTRACT AVAILABLE Great Starter Home or Investment Opportunity! This home sits on a double lot and needs some work, but it has solid potential. Perfect for a first-time buyer willing to renovate, or an investor looking for a flip or rental property. Convenient location near schools, parks, and major transportation routes. Sold As-Is.

16. 2026-05-12
    listed $37,999 Active 317-char remark

    Show marketing remark (341 chars)

    LAND CONTRACT AVAILABLE Great Starter Home or Investment Opportunity! This home sits on a double lot and needs some work, but it has solid potential. Perfect for a first-time buyer willing to renovate, or an investor looking for a flip or rental property. Convenient location near schools, parks, and major transportation routes. Sold As-Is.

17. 2026-05-11
    historical $37,999 317-char remark

    Show marketing remark (341 chars)

    LAND CONTRACT AVAILABLE Great Starter Home or Investment Opportunity! This home sits on a double lot and needs some work, but it has solid potential. Perfect for a first-time buyer willing to renovate, or an investor looking for a flip or rental property. Convenient location near schools, parks, and major transportation routes. Sold As-Is.

18. 2026-05-08
    historical
19. 2026-04-03
    price $40,000
20. 2026-04-03
    price $40,000
21. 2026-03-04
    listed $45,000 Active
22. 2026-03-04
    listed $45,000 Active
23. 2026-03-02
    historical
24. 2025-10-21
    historical
25. 2025-09-02
    listed $39,999 Active
26. 2025-09-01
    historical
27. 2025-09-01
    historical
28. 2025-08-31
    listed $39,999 Active
29. 2025-07-24
    price $49,000
30. 2025-07-24
    price $49,000
31. 2025-07-22
    listed $490,000 Active
32. 2025-07-22
    listed $490,000 Active
33. 2025-07-20
    historical
34. 2025-06-25
    price $55,000
35. 2025-06-25
    price $55,000
36. 2025-06-23
    listed $50,000 Active
37. 2025-06-23
    listed $50,000 Active
38. 2025-06-20
    historical
39. 2011-04-02
    soldstatus $3,500
40. 2011-04-02
    soldstatus $3,500
41. 2011-04-02
    soldstatus $3,500
42. 2011-03-02
    historical
43. 2011-03-02
    historical
44. 2010-12-09
    listed $3,500
45. 2010-12-06
    listed $3,500
46. 2010-12-06
    listed $3,500
47. 2010-04-05
    historical
48. 2010-04-05
    historical
49. 2010-03-25
    listed $29,000
50. 2010-03-25
    listed $29,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 55% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 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: $19,208
• − Mortgage interest: −$2,129
• − Property taxes: −$570
• − Insurance: −$190
• − Repairs & maintenance: −$1,537
• − Management: −$1,537
• − Depreciation: −$1,105
• Taxable income: $12,141
• Est. tax owed @ 24.0%: −$2,914
• After-tax cash flow: $9,109/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

+101.1% since first listed

47 events — show timeline

• 2026-05-12 Listed $37,999 MiRealSource-MiMLS
• 2026-05-12 Listed $37,999 REALCOMP
• 2026-05-11 Coming Soon $37,999 MiRealSource-MiMLS
• 2026-05-08 Listing Removed — MiRealSource-MiMLS
• 2026-04-03 Price Changed $40,000 MiRealSource-MiMLS
• 2026-04-03 Price Changed $40,000 REALCOMP
• 2026-03-04 Listed $45,000 MiRealSource-MiMLS
• 2026-03-04 Listed $45,000 REALCOMP
• 2026-03-02 Coming Soon — MiRealSource-MiMLS
• 2025-10-21 Listing Removed — MiRealSource-MiMLS
• 2025-09-02 Listed $39,999 REALCOMP
• 2025-09-01 Listing Removed — MiRealSource-MiMLS
• 2025-09-01 Listing Removed — REALCOMP
• 2025-08-31 Listed $39,999 MiRealSource-MiMLS
• 2025-07-24 Price Changed $49,000 MiRealSource-MiMLS
• 2025-07-24 Price Changed $49,000 REALCOMP
• 2025-07-22 Listed $490,000 MiRealSource-MiMLS
• 2025-07-22 Listed $490,000 REALCOMP
• 2025-07-20 Listing Removed — MiRealSource-MiMLS
• 2025-06-25 Price Changed $55,000 MiRealSource-MiMLS
• 2025-06-25 Price Changed $55,000 REALCOMP
• 2025-06-23 Listed $50,000 MiRealSource-MiMLS
• 2025-06-23 Listed $50,000 REALCOMP
• 2025-06-20 Coming Soon — MiRealSource-MiMLS
• 2011-04-02 Sold (MLS) $3,500 REALCOMP
• 2011-04-02 Sold (MLS) $3,500 MiRealSource-MiMLS
• 2011-04-02 Sold (MLS) $3,500 MiRealSource-MiMLS
• 2011-03-02 Listing Removed — MiRealSource-MiMLS
• 2011-03-02 Listing Removed — MiRealSource-MiMLS
• 2010-12-09 Listed $3,500 MiRealSource-MiMLS
• 2010-12-06 Listed $3,500 REALCOMP
• 2010-12-06 Listed $3,500 MiRealSource-MiMLS
• 2010-04-05 Listing Removed — REALCOMP
• 2010-04-05 Listing Removed — MiRealSource-MiMLS
• 2010-03-25 Listed $29,000 REALCOMP
• 2010-03-25 Listed $29,000 MiRealSource-MiMLS
• 2007-08-30 Sold (MLS) $5,500 MiRealSource-MiMLS
• 2007-08-30 Sold (MLS) $5,500 REALCOMP
• 2007-07-16 Listing Removed — MiRealSource-MiMLS
• 2007-05-31 Listed $7,500 REALCOMP
• 2007-05-22 Listing Removed — REALCOMP
• 2006-11-22 Listed $10,000 REALCOMP
• 2006-11-22 Listed $7,500 MiRealSource-MiMLS
• 2003-12-10 Sold (MLS) $7,500 MiRealSource-MiMLS
• 2003-05-29 Listing Removed — MiRealSource-MiMLS
• 2003-04-02 Listed $8,900 MiRealSource-MiMLS
• 1999-09-20 Sold (Public Records) $18,900 Public Records

Property tax history

+11.3%/yr

Latest (2025): $3,824 · -1.2% YoY. Source: county tax records.