20540 Syracuse St · Detroit, MI 48234

$90,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 71 Days on market

Built 1956 3,920 sqft lot $89/sqft · 29% below area Est $139k · 35% under

---

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 +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BATVAI, Solid home! Very clean and quite spacious! Offers 3 bedrooms, full bath and a lav in the basement. Nice, sizable kitchen with enough space for a table and chairs. Full basement and a 2-car garage! Bring your buyers, this home wont disappoint.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+6.7%/yr); 226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,377/mo this rent would consume 47% of the median local household income ($35k/yr) (locally 2372% 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 $622 of loan paydown is wiped out by about $3k 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 + 6.7% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 29y ago; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.53% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.02%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $138,793
• List price: $90,000
• Delta: -35.16%
• 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
20057 Keystone St	0.38mi	3/1.0	1,019 (+1%)	7mo	$81,500	$80	74
21029 Blackmar Ave	0.29mi	3/1.0	1,062 (+5%)	6mo	$120,000	$113	73
19608 Buffalo St	0.58mi	3/1.0	1,014 (+1%)	1mo	$68,000	$67	71
20059 Bloom St	0.30mi	3/1.0	911 (-10%)	4mo	$90,000	$99	66
3191 E Outer Dr	0.43mi	3/1.5	1,072 (+6%)	6mo	$79,500	$74	63
7003 Rivard Ave	0.75mi	3/1.0	955 (-5%)	4mo	$102,000	$107	53
21410 Panama St	0.43mi	2/1.0 (-1)	900 (-11%)	4mo	$72,000	$80	53
19610 Conley St	0.66mi	3/1.0	1,120 (+11%)	0mo	$80,000	$71	50
19437 Conley St	0.72mi	3/1.0	912 (-10%)	4mo	$28,500	$31	47
19451 Conley St	0.70mi	3/1.0	900 (-11%)	3mo	$54,000	$60	47
19442 Moenart St	0.64mi	3/1.5	1,145 (+14%)	2mo	$74,999	$66	43
21852 Cyman Ave	0.67mi	3/2.0	1,150 (+14%)	2mo	$133,000	$116	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 1.86×
• Total profit: $21,555
• Equity at exit: $13,419

10-year hold

• IRR: 30.7%
• Equity multiple: 4.26×
• Total profit: $82,131
• Equity at exit: $7,782

Cash invested: $25,200 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,377 high
• Mortgage (P&I): −$472
• Tax from tax record: −$95 /mo · $1,138/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $483

Break-even live

Break-even rent $765

Max offer price $90,000

Occupancy floor 60%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	0.14mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	16d	1	0.30mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	0.40mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	24d	1	0.43mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1152	$1,595	$1.38	2d	1	0.44mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1160	$1,595	$1.38	43d	1	0.44mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	43d	1	0.45mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	0.65mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	5d	1	0.74mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	24d	1	0.74mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	4d	1	0.79mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	11d	1	0.87mi
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	43d	1	0.90mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	43d	1	0.91mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	0.93mi
22622 Panama Ave Warren, MI	3.0	1.5	920	$1,395	$1.52	11d	1	0.95mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	0.99mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	0.99mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	43d	1	0.99mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	16d	1	1.00mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	2d	1	1.00mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	1.03mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	22d	1	1.08mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	24d	1	1.09mi
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	24d	1	1.10mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	43d	1	1.13mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	1.15mi
7568 Hudson Ave Unit 1 Warren, MI	3.0	1.0	1415	$1,100	$0.78	5d	1	1.20mi
7568 Hudson Ave Unit 2 Warren, MI	2.0	1.0	1415	$900	$0.64	5d	1	1.20mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	24d	1	1.20mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.21mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.26mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	1.27mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	43d	1	1.29mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	1.30mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.34mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.35mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	1.36mi
23378 Cunningham Ave Warren, MI	3.0	1.0	1140	$1,500	$1.32	3d	1	1.39mi
8251 Hudson Ave Warren, MI	3.0	1.0	908	$1,400	$1.54	24d	1	1.43mi

Listing history 27 events

1. 2026-06-18
   days on market $90,000 Active 71 DOM
2. 2026-06-17
   days on market $90,000 Active 70 DOM
3. 2026-06-15
   days on market $90,000 Active 68 DOM
4. 2026-06-13
   days on market $90,000 Active 66 DOM
5. 2026-06-13
   days on market $90,000 Active 65 DOM
6. 2026-06-09
   days on market $90,000 Active 62 DOM
7. 2026-06-08
   days on market $90,000 Active 61 DOM
8. 2026-06-07
   days on market $90,000 Active 60 DOM
9. 2026-06-04
   days on market $90,000 Active 57 DOM
10. 2026-06-03
    days on market $90,000 Active 56 DOM
11. 2026-06-02
    days on market $90,000 Active 55 DOM
12. 2026-06-01
    days on market $90,000 Active 54 DOM
13. 2026-05-31
    days on market $90,000 Active 53 DOM
14. 2026-04-08
    listed $105,000 Active 251-char remark

    Show marketing remark (250 chars)

    BATVAI, Solid home! Very clean and quite spacious! Offers 3 bedrooms, full bath and a lav in the basement. Nice, sizable kitchen with enough space for a table and chairs. Full basement and a 2-car garage! Bring your buyers, this home wont disappoint.

15. 2026-04-08
    listed $105,000 Active 250-char remark

    Show marketing remark (250 chars)

    BATVAI, Solid home! Very clean and quite spacious! Offers 3 bedrooms, full bath and a lav in the basement. Nice, sizable kitchen with enough space for a table and chairs. Full basement and a 2-car garage! Bring your buyers, this home wont disappoint.

16. 2009-02-17
    historical
17. 2009-02-17
    historical
18. 2008-07-17
    listed $39,900
19. 2008-07-17
    listed $39,900
20. 2008-07-16
    historical
21. 2007-12-06
    listed $49,900
22. 2007-11-30
    historical
23. 2007-11-30
    historical
24. 2007-05-02
    listed $55,000
25. 2007-05-02
    listed $55,000
26. 1997-07-01
    historical
27. 1997-04-01
    listed $48,500

ⓘ 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: $1,138 · $95/mo
• Projected year-2 tax: $1,262 · $105/mo
• Expected delta: +$124/yr (+$10/mo · 10.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 62% 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: $16,521
• − Mortgage interest: −$5,041
• − Property taxes: −$1,138
• − Insurance: −$450
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$2,618
• Taxable income: $4,630
• Est. tax owed @ 24.0%: −$1,111
• After-tax cash flow: $4,689/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+116.5% since first listed

14 events — show timeline

• 2026-04-08 Listed $105,000 REALCOMP
• 2026-04-08 Listed $105,000 MiRealSource-MiMLS
• 2009-02-17 Listing Removed — MiRealSource-MiMLS
• 2009-02-17 Listing Removed — REALCOMP
• 2008-07-17 Listed $39,900 MiRealSource-MiMLS
• 2008-07-17 Listed $39,900 REALCOMP
• 2008-07-16 Listing Removed — REALCOMP
• 2007-12-06 Listed $49,900 REALCOMP
• 2007-11-30 Listing Removed — REALCOMP
• 2007-11-30 Listing Removed — MiRealSource-MiMLS
• 2007-05-02 Listed $55,000 REALCOMP
• 2007-05-02 Listed $55,000 MiRealSource-MiMLS
• 1997-07-01 Listing Removed — REALCOMP
• 1997-04-01 Listed $48,500 REALCOMP

Property tax history

-4.6%/yr

Latest (2025): $1,138 · -8.6% YoY. Source: county tax records.