19942 Mccormick St · Detroit, MI 48224

$46,500

3 bd · 1.0 ba · 1,167 sqft · SingleFamily public records · 15 Days on market

Built 1944 6,970 sqft lot Est $84k · 45% 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
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming bungalow home located just North of Moross and West of Harper Avenue. This home features a 1 car detached garage, hardwood floors throughout the first floor, living room, family room, spacious kitchen, two bedrooms and bathroom on the main floor, a large primary bedroom on the second floor, and an unfinished basement. This would make a great addition to your investment portfolio! PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• Spacious kitchen
• Unfinished basement
• Bungalow home

Tags

• BUNGALOW HOME
• HARDWOOD FLOORS
• SPACIOUS KITCHEN
• UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story; Ground-level entry with steps; Vinyl siding
• Construction: Block foundation
• Exterior features: Front porch; Paved road access

Interior

• Bedrooms: One and one-half story layout (bedroom levels not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $46k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.7% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 36% of the median local income ($45k/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 $321 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 + 0.7% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 31y 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 $37k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,802 (1.5% below list)

Questions for the listing agent

1. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.92% ✓
• Cap rate: 25.68%
• Cash-on-cash: 69.25%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $84,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11160 Worden St	0.13mi	3/2.0	1,234 (+6%)	1mo	$156,000	$126	80
11960 Rossiter St	0.49mi	3/1.0	1,164 (-0%)	2mo	$84,000	$72	75
20644 Mccormick St	0.44mi	3/2.0	1,152 (-1%)	2mo	$91,000	$79	72
11640 Somerset Ave	0.14mi	3/2.0	1,028 (-12%)	0mo	$70,000	$68	69
9369 Sanilac St	0.55mi	3/1.0	1,124 (-4%)	1mo	$65,000	$58	68
20244 Mccormick St	0.18mi	3/1.0	1,000 (-14%)	1mo	$75,000	$75	67
10901 Worden St	0.34mi	3/1.5	1,271 (+9%)	1mo	$43,000	$34	66
11090 Mckinney St	0.38mi	3/1.5	1,270 (+9%)	2mo	$154,000	$121	64
10830 Mckinney St	0.57mi	3/1.0	1,066 (-9%)	1mo	$40,199	$38	58
18933 Kenosha St	0.65mi	3/1.5	1,258 (+8%)	2mo	$145,000	$115	53
11545 Roxbury St	0.53mi	3/1.0	1,003 (-14%)	1mo	$65,000	$65	51
18981 Kenosha St	0.61mi	3/1.5	1,290 (+10%)	2mo	$77,500	$60	51

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 66.1%
• Equity multiple: 3.87×
• Total profit: $37,307
• Equity at exit: $6,933

10-year hold

• IRR: 69.7%
• Equity multiple: 7.32×
• Total profit: $82,299
• Equity at exit: $4,020

Cash invested: $13,020 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,358 high
• Mortgage (P&I): −$244
• Tax est. 1.5%: −$58 /mo · $698/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $751

Break-even live

Break-even rent $407

Max offer price $46,500

Occupancy floor 40%

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: $11,625
• Closing costs: $1,395
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	0.03mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	0.19mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.21mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.24mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	0.27mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	0.28mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	0.28mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	0.32mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.36mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	0.46mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.47mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.47mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.50mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.54mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.55mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.58mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.58mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	0.62mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.64mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.66mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.66mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	0.68mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.68mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	0.74mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	0.74mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	0.76mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	44d	1	0.76mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.77mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	44d	1	0.79mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.80mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.81mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.81mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	0.82mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	12d	1	0.83mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	0.85mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.85mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.86mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.88mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.88mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	24d	1	0.88mi

Listing history 11 events

1. 2026-06-18
   days on market $46,500 Active 15 DOM
2. 2026-06-17
   days on market $46,500 Active 14 DOM
3. 2026-06-16
   days on market $46,500 Active 13 DOM
4. 2026-06-15
   days on market $46,500 Active 12 DOM
5. 2026-06-13
   days on market $46,500 Active 10 DOM
6. 2026-06-13
   days on market $46,500 Active 9 DOM
7. 2026-06-09
   days on market $46,500 Active 6 DOM
8. 2026-06-08
   days on market $46,500 Active 5 DOM
9. 2026-06-07
   days on market $46,500 Active 4 DOM
10. 2026-06-04
    remarks 589-char remark
11. 2026-06-04
    listed $46,500 Active 1 DOM

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,294
• − Mortgage interest: −$2,605
• − Property taxes: −$698
• − Insurance: −$232
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$1,353
• Taxable income: $8,800
• Est. tax owed @ 24.0%: −$2,112
• After-tax cash flow: $6,904/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+108.5% since first listed

44 events — show timeline

• 2026-06-03 Listed $46,500 REALCOMP
• 2026-06-03 Listed $46,500 MiRealSource-MiMLS
• 2021-02-10 Sold (MLS) $37,000 MiRealSource-MiMLS
• 2021-02-10 Sold (MLS) $37,000 REALCOMP
• 2021-02-04 Pending — MiRealSource-MiMLS
• 2021-01-02 Relisted — MiRealSource-MiMLS
• 2020-12-29 Contingent — MiRealSource-MiMLS
• 2020-11-10 Price Changed $40,000 MiRealSource-MiMLS
• 2020-10-27 Price Changed $41,900 MiRealSource-MiMLS
• 2020-10-02 Price Changed $42,900 MiRealSource-MiMLS
• 2020-08-29 Price Changed $44,900 MiRealSource-MiMLS
• 2020-08-10 Listed $42,900 MiRealSource-MiMLS
• 2020-08-10 Listed $40,000 REALCOMP
• 2019-05-09 Listing Removed — REALCOMP
• 2019-05-08 Listing Removed — MiRealSource-MiMLS
• 2019-04-30 Price Changed $42,900 MiRealSource-MiMLS
• 2019-04-30 Price Changed $42,900 REALCOMP
• 2019-04-11 Price Changed $44,900 MiRealSource-MiMLS
• 2019-04-11 Price Changed $44,900 REALCOMP
• 2019-03-15 Price Changed $45,900 MiRealSource-MiMLS
• 2019-03-15 Price Changed $45,900 REALCOMP
• 2019-03-01 Price Changed $46,400 MiRealSource-MiMLS
• 2019-03-01 Price Changed $46,400 REALCOMP
• 2019-02-21 Price Changed $46,900 MiRealSource-MiMLS
• 2019-02-20 Price Changed $46,900 REALCOMP
• 2019-02-15 Listed $47,900 MiRealSource-MiMLS
• 2019-02-15 Listed $47,900 REALCOMP
• 2005-08-12 Sold (MLS) $55,007 REALCOMP
• 2005-05-20 Listed $50,000 REALCOMP
• 1999-07-21 Sold (Public Records) $78,700 Public Records
• 1999-06-18 Sold (MLS) $78,700 MiRealSource-MiMLS
• 1999-05-07 Listing Removed — MiRealSource-MiMLS
• 1999-04-23 Listed $76,900 MiRealSource-MiMLS
• 1997-05-08 Sold (MLS) $58,500 MiRealSource-MiMLS
• 1997-04-14 Listing Removed — MiRealSource-MiMLS
• 1997-03-22 Listed $58,977 MiRealSource-MiMLS
• 1995-04-25 Sold (Public Records) $45,000 Public Records
• 1995-04-14 Sold (MLS) $45,000 MiRealSource-MiMLS
• 1995-04-14 Sold (MLS) $45,000 MiRealSource-MiMLS
• 1995-03-04 Listing Removed — MiRealSource-MiMLS
• 1995-03-04 Listing Removed — MiRealSource-MiMLS
• 1995-01-18 Listed $48,900 MiRealSource-MiMLS
• 1995-01-18 Listed $48,900 MiRealSource-MiMLS
• 1992-01-13 Sold (Public Records) $22,300 Public Records

Property tax history

+6.3%/yr

Latest (2025): $3,994 · +0.6% YoY. Source: county tax records.