20400 Greenlawn St · Detroit, MI 48221

$60,000

4 bd · 1.0 ba · 1,211 sqft · SingleFamily public records · 31 Days on market

Built 1971 5,663 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home Subject to Probate Approval. Great potential for Value Add. 4 Bedroom 1 Bathroom Ranch with lots of potential in Sought Out Neighborhood. Close to Freeways and Fashion District. Make this Home Yours Today!

Key facts

• Close to freeways
• 5,663 sq ft lot
• 2 garage spots

Tags

• SOUGHT OUT NEIGHBORHOOD
• CLOSE TO FREEWAYS

Property features AI

Finance

• Other: Lot approximately 0.13 acres (dimensions 42 x 133.25)

Exterior

• Parking: Detached 2-car garage; Paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Brick exterior; Asphalt roof
• Construction: Brick construction; Brick/mortar foundation; Built with asphalt roofing
• Exterior features: Front porch; Fenced backyard

Interior

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

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $828 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.9% 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: Rents rising (+3.4%/yr); 349 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/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 $415 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 + 3.4% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1971 — 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. 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: 2.64% ✓
• Cap rate: 22.85%
• Cash-on-cash: 59.14%
• DSCR: 3.63
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $127,155
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20110 Northlawn St	0.20mi	3/1.0 (-1)	1,100 (-9%)	3mo	$67,000	$61	68
19940 Prairie St	0.43mi	3/1.0 (-1)	1,165 (-4%)	2mo	$140,000	$120	67
19489 San Juan Dr	0.54mi	3/1.0 (-1)	1,200 (-1%)	1mo	$110,000	$92	67
20145 Santa Barbara Dr	0.18mi	3/1.0 (-1)	1,100 (-9%)	5mo	$35,000	$32	67
207 Farmdale St	0.59mi	4/1.0	1,244 (+3%)	6mo	$190,000	$153	63
20805 Bethlawn Blvd	0.28mi	3/1.5 (-1)	1,083 (-11%)	3mo	$168,500	$156	60
20401 Santa Rosa Dr	0.39mi	3/1.5 (-1)	1,114 (-8%)	5mo	$97,000	$87	57
410 Stratford Rd	0.56mi	3/1.5 (-1)	1,302 (+8%)	1mo	$360,000	$276	53
21304 Glen Lodge Rd	0.63mi	5/1.5 (+1)	1,166 (-4%)	7mo	$122,555	$105	52
21395 Westview Ave	0.65mi	3/1.0 (-1)	1,100 (-9%)	3mo	$125,000	$114	47
20018 Wyoming Ave	0.52mi	3/1.0 (-1)	1,043 (-14%)	4mo	$66,500	$64	45
19958 Washburn St	0.59mi	3/1.0 (-1)	1,046 (-14%)	6mo	$100,000	$96	40

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 58.3%
• Equity multiple: 3.60×
• Total profit: $43,741
• Equity at exit: $8,946

10-year hold

• IRR: 63.3%
• Equity multiple: 7.49×
• Total profit: $109,019
• Equity at exit: $5,188

Cash invested: $16,800 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,583 high
• Mortgage (P&I): −$315
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $828

Break-even live

Break-even rent $535

Max offer price $60,000

Occupancy floor 43%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	17d	1	0.22mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	44d	1	0.22mi
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	17d	1	0.34mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	18d	1	0.36mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	17d	1	0.42mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	24d	1	0.44mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	17d	1	0.48mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	44d	1	0.55mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	0.61mi
21374 Ithaca Ave Ferndale, MI	3.0	1.0	996	$1,775	$1.78	24d	1	0.76mi
1557 Leroy St Ferndale, MI	3.0	2.0	1380	$2,523	$1.83	5d	1	0.87mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	17d	1	0.88mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	0.88mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	0.93mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	17d	1	0.94mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	3d	1	0.94mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	5d	1	1.02mi
22811 Rosewood St Oak Park, MI	3.0	1.0	1000	$1,600	$1.60	24d	1	1.13mi

Listing history 15 events

1. 2026-06-18
   days on market $60,000 Active 31 DOM
2. 2026-06-17
   days on market $60,000 Active 30 DOM
3. 2026-06-15
   days on market $60,000 Active 28 DOM
4. 2026-06-13
   days on market $60,000 Active 26 DOM
5. 2026-06-13
   days on market $60,000 Active 25 DOM
6. 2026-06-09
   days on market $60,000 Active 22 DOM
7. 2026-06-08
   days on market $60,000 Active 21 DOM
8. 2026-06-07
   days on market $60,000 Active 20 DOM
9. 2026-06-04
   days on market $60,000 Active 17 DOM
10. 2026-06-03
    days on market $60,000 Active 16 DOM
11. 2026-06-02
    days on market $60,000 Active 15 DOM
12. 2026-06-01
    days on market $60,000 Active 14 DOM
13. 2026-05-31
    days on market $60,000 Active 13 DOM
14. 2026-05-13
    listed $60,000 Active

    Show marketing remark (210 chars)

    Home Subject to Probate Approval. Great potential for Value Add. 4 Bedroom 1 Bathroom Ranch with lots of potential in Sought Out Neighborhood. Close to Freeways and Fashion District. Make this Home Yours Today!

15. 2026-05-13
    listed $60,000 Active 210-char remark

    Show marketing remark (210 chars)

    Home Subject to Probate Approval. Great potential for Value Add. 4 Bedroom 1 Bathroom Ranch with lots of potential in Sought Out Neighborhood. Close to Freeways and Fashion District. Make this Home Yours Today!

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $992 · $83/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 ≥97°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: $18,991
• − Mortgage interest: −$3,361
• − Property taxes: −$992
• − Insurance: −$300
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − Depreciation: −$1,745
• Taxable income: $9,554
• Est. tax owed @ 24.0%: −$2,293
• After-tax cash flow: $7,642/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-13 Listed $60,000 MiRealSource-MiMLS
• 2026-05-13 Listed $60,000 REALCOMP

Property tax history

-3.0%/yr

Latest (2025): $992 · -55.1% YoY. Source: county tax records.