20026 Fenmore St · Detroit, MI 48235

$95,000

3 bd · 1.0 ba · 693 sqft · SingleFamily public records · 22 Days on market

Built 1947 5,227 sqft lot Est $64k · 47% over

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Why this score? — see what drove the C 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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +8.4/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This gorgeous 3 bed 1 bath bungalow features many modern updates at an affordable price! Recent updates include a completely renovated kitchen with all new shaker cabinets, granite countertops, sink, backsplash, and luxury vinyl plank flooring. Similarly, the bathroom includes a beautiful new tile surround, toilet, vanity, and new flooring. Refinished hardwood floors throughout the main floor maintain the classic Detroit charm. Newer vinyl windows and recessed lighting in the living room provide ample lighting. The upstairs bedroom includes a larger footprint suitable for kids or a master bedroom suite. The unfinished basement allows for on site laundry, additional storage, and living space. Seller will provide appliances for the right offer. Come see it before it's gone!

Key facts

• New shaker cabinets
• New tile surround
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• NEW SHAKER CABINETS
• GRANITE COUNTERTOPS
• LUXURY VINYL PLANK FLOORING
• NEW TILE SURROUND
• REFINISHED HARDWOOD FLOORS

Property features AI

Finance

• Other: Located in the Madison Park subdivision; nearest cross streets Southfield Fwy & Pembroke
• Financial info: Annual property tax: $4,752

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot roughly 40 x 130 (0.12 acre)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Five total rooms; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.

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 (+3.2%/yr); 290 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 39% of the median local income ($39k/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 $657 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 + 3.2% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; list at $95k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — 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: 1.34% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.88%
• DSCR: 1.57
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $64,449
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19751 Oakfield St	0.25mi	2/1.0 (-1)	735 (+6%)	1mo	$17,500	$24	72
19944 Faust Ave	0.33mi	2/1.0 (-1)	665 (-4%)	4mo	$30,400	$46	69
19510 Gilchrist St	0.39mi	2/1.0 (-1)	696 (+0%)	13mo	$32,000	$46	66
19425 Fenmore St	0.37mi	2/1.0 (-1)	720 (+4%)	8mo	$79,000	$110	64
19510 Ferguson St	0.48mi	2/1.0 (-1)	717 (+4%)	3mo	$21,000	$29	64
19781 Oakfield St	0.23mi	2/1.0 (-1)	752 (+8%)	8mo	$65,000	$86	64
19786 Oakfield St	0.24mi	3/1.0	780 (+13%)	7mo	$80,000	$103	62
19307 Fenmore St	0.51mi	2/1.0 (-1)	725 (+5%)	3mo	$72,500	$100	61
19749 Rosemont Ave	0.31mi	2/1.0 (-1)	753 (+9%)	7mo	$90,000	$120	60
19195 Fenmore St	0.56mi	2/1.0 (-1)	720 (+4%)	8mo	$79,500	$110	56
19913 Prevost St	0.70mi	2/1.0 (-1)	716 (+3%)	4mo	$27,900	$39	54
19352 Avon St	0.63mi	2/1.5 (-1)	752 (+8%)	10mo	$70,000	$93	41

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $3,171
• Equity at exit: $14,165

10-year hold

• IRR: 12.9%
• Equity multiple: 2.04×
• Total profit: $27,733
• Equity at exit: $8,214

Cash invested: $26,600 (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 48235

• Rents YoY: 3.2%
• Active inventory: 290
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,270 high
• Mortgage (P&I): −$498
• Tax from tax record: −$180 /mo · $2,159/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $286

Break-even live

Break-even rent $908

Max offer price $95,000

Occupancy floor 73%

Sensitivity live

Price	-10% $339	-5% $312	+0% $286	+5% $259	+10% $232
Rent	-10% $185	-5% $235	+0% $286	+5% $336	+10% $386
Rate	-1.0pp $333	-0.5pp $310	base $286	+0.5pp $261	+1.0pp $236

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	13d	1	0.33mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	25d	1	0.33mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	16d	5	0.82mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	16d	1	0.82mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	44d	1	1.04mi

Listing history 16 events

1. 2026-06-21
   days on market $95,000 Active 22 DOM
2. 2026-06-18
   days on market $95,000 Active 19 DOM
3. 2026-06-17
   days on market $95,000 Active 18 DOM
4. 2026-06-15
   price $95,000 Active 16 DOM
5. 2026-06-15
   days on market $100,000 Active 16 DOM
6. 2026-06-13
   days on market $100,000 Active 14 DOM
7. 2026-06-13
   days on market $100,000 Active 13 DOM
8. 2026-06-09
   days on market $100,000 Active 10 DOM
9. 2026-06-08
   days on market $100,000 Active 9 DOM
10. 2026-06-07
    days on market $100,000 Active 8 DOM
11. 2026-06-04
    days on market $100,000 Active 5 DOM
12. 2026-06-03
    days on market $100,000 Active 4 DOM
13. 2026-06-02
    days on market $100,000 Active 3 DOM
14. 2026-06-01
    days on market $100,000 Active 2 DOM
15. 2026-05-31
    remarks 699-char remark
16. 2026-05-31
    listed $100,000 Active 1 DOM

ⓘ 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: $2,159 · $180/mo
• Projected year-2 tax: $2,159 · $180/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 2/10 Low 7 d/yr ≥98°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: $15,239
• − Mortgage interest: −$5,321
• − Property taxes: −$2,159
• − Insurance: −$475
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$2,764
• Taxable income: $2,082
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $2,927/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+112.8% since first listed

3 events — show timeline

• 2026-05-30 Listed $100,000 MiRealSource-MiMLS
• 2026-05-30 Listed $100,000 REALCOMP
• 2026-02-24 Sold (Public Records) $47,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,159 · -54.3% YoY. Source: county tax records.