20520 Dresden St · Detroit, MI 48205

$35,000

2 bd · 1.0 ba · 680 sqft · SingleFamily public records · 36 Days on market

Built 1949 4,792 sqft lot $51/sqft · 41% below area Est $60k · 41% 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
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy ranch with very minimum work needed located on Detroit's east side Can be lived in as is. Great investment or for first time home owner Land contract offered. Buyer does not have to have perfect credit, as long as their income is verifiable and they have been on the job at least a year. House has working furnace and water heater is fairly new. Newer roof and vinyl siding.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1949

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps
• Construction: Aluminum siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.11 acres (40 x 125.15)

Interior

• Bathrooms: 1 full bathroom; 1 half 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 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 32.1% 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: Rents rising (+1.3%/yr); 376 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 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 $242 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 + 1.3% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1949 — 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: 3.60% ✓
• Cap rate: 32.14%
• Cash-on-cash: 92.31%
• DSCR: 5.11
• GRM: 2.3

CMA / ARV

• ARV (median comp): $59,790
• List price: $35,000
• Delta: -41.46%
• 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
20520 Dresden St	0.00mi	2/1.5	680 (0%)	0mo	$33,000	$49	98
20083 Bradford St	0.21mi	2/1.0	648 (-5%)	0mo	$24,000	$37	82
20091 Annott St	0.24mi	2/1.0	747 (+10%)	1mo	$12,800	$17	72
12832 Sherman Ave	0.50mi	2/1.0	696 (+2%)	2mo	$100,000	$144	70
13075 Sherman Ave	0.63mi	2/1.0	700 (+3%)	6mo	$83,000	$119	61
13475 Coleen Ave	0.70mi	2/1.0	672 (-1%)	6mo	$65,000	$97	60
13119 Sherman Ave	0.65mi	2/1.0	696 (+2%)	7mo	$80,000	$115	60
12426 Sidonie Ave	0.50mi	2/1.0	750 (+10%)	4mo	$131,000	$175	57
13407 Sherman Ave	0.75mi	2/1.0	696 (+2%)	9mo	$79,700	$115	54
19735 Annott St	0.50mi	3/1.0 (+1)	780 (+15%)	4mo	$69,500	$89	44
12856 Couwlier Ave	0.65mi	2/1.0	768 (+13%)	7mo	$57,000	$74	42
20210 Hickory St	0.64mi	3/1.0 (+1)	779 (+15%)	6mo	$21,500	$28	36

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 91.2%
• Equity multiple: 5.11×
• Total profit: $40,278
• Equity at exit: $5,219

10-year hold

• IRR: 93.7%
• Equity multiple: 10.05×
• Total profit: $88,709
• Equity at exit: $3,026

Cash invested: $9,800 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $754

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 35%

Sensitivity live

Price	-10% $778	-5% $766	+0% $754	+5% $742	+10% $730
Rent	-10% $654	-5% $704	+0% $754	+5% $804	+10% $853
Rate	-1.0pp $771	-0.5pp $763	base $754	+0.5pp $745	+1.0pp $736

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	0.49mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.64mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	0.81mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.82mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	0.89mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	18d	1	1.26mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	25d	1	1.36mi

Listing history 34 events

1. 2026-06-17
   days on market $35,000 Active 36 DOM
2. 2026-06-15
   days on market $35,000 Active 34 DOM
3. 2026-06-13
   days on market $35,000 Active 32 DOM
4. 2026-06-13
   days on market $35,000 Active 31 DOM
5. 2026-06-09
   days on market $35,000 Active 28 DOM
6. 2026-06-08
   days on market $35,000 Active 27 DOM
7. 2026-06-07
   days on market $35,000 Active 26 DOM
8. 2026-06-04
   days on market $35,000 Active 23 DOM
9. 2026-06-03
   days on market $35,000 Active 22 DOM
10. 2026-06-02
    days on market $35,000 Active 21 DOM
11. 2026-06-01
    days on market $35,000 Active 20 DOM
12. 2026-05-31
    days on market $35,000 Active 19 DOM
13. 2026-05-06
    listed $35,000 Active 379-char remark

    Show marketing remark (379 chars)

    Cozy ranch with very minimum work needed located on Detroit's east side Can be lived in as is. Great investment or for first time home owner Land contract offered. Buyer does not have to have perfect credit, as long as their income is verifiable and they have been on the job at least a year. House has working furnace and water heater is fairly new. Newer roof and vinyl siding.

14. 2026-05-06
    listed $35,000 Active 379-char remark

    Show marketing remark (379 chars)

    Cozy ranch with very minimum work needed located on Detroit's east side Can be lived in as is. Great investment or for first time home owner Land contract offered. Buyer does not have to have perfect credit, as long as their income is verifiable and they have been on the job at least a year. House has working furnace and water heater is fairly new. Newer roof and vinyl siding.

15. 2024-03-17
    historical
16. 2024-03-17
    historical
17. 2024-03-12
    status Active
18. 2024-03-12
    status Active
19. 2024-01-28
    status Pending
20. 2024-01-28
    status Pending
21. 2024-01-17
    listed $35,000 Active
22. 2024-01-17
    listed $35,000 Active
23. 2016-11-23
    soldstatus $3,350 Sold
24. 2016-11-23
    soldstatus $3,350 Closed
25. 2016-10-04
    status Pending
26. 2016-10-04
    status Pending
27. 2016-09-13
    listed $2,500 Active
28. 2016-09-13
    listed $2,500 Active
29. 2002-05-24
    soldstatus $57,000
30. 2002-04-15
    historical
31. 2002-03-02
    listed $57,800
32. 2002-02-01
    soldstatus $24,900
33. 2001-11-09
    historical
34. 2001-11-08
    listed $24,900

ⓘ 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 ≥96°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: $15,125
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$1,018
• Taxable income: $9,026
• Est. tax owed @ 24.0%: −$2,166
• After-tax cash flow: $6,880/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+32.5% since first listed

28 events — show timeline

• 2026-06-16 Sold (MLS) $33,000 REALCOMP
• 2026-06-16 Sold (MLS) $33,000 MiRealSource-MiMLS
• 2026-05-27 Relisted — MiRealSource-MiMLS
• 2026-05-27 Relisted — REALCOMP
• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-05-21 Pending — REALCOMP
• 2026-05-06 Listed $35,000 REALCOMP
• 2026-05-06 Listed $35,000 MiRealSource-MiMLS
• 2024-03-17 Listing Removed — MiRealSource-MiMLS
• 2024-03-17 Listing Removed — REALCOMP
• 2024-03-12 Relisted — REALCOMP
• 2024-03-12 Relisted — MiRealSource-MiMLS
• 2024-01-28 Pending — MiRealSource-MiMLS
• 2024-01-28 Pending — REALCOMP
• 2024-01-17 Listed $35,000 MiRealSource-MiMLS
• 2024-01-17 Listed $35,000 REALCOMP
• 2016-11-23 Sold (MLS) $3,350 MiRealSource-MiMLS
• 2016-11-23 Sold (MLS) $3,350 REALCOMP
• 2016-10-04 Pending — MiRealSource-MiMLS
• 2016-10-04 Pending — REALCOMP
• 2016-09-13 Listed $2,500 MiRealSource-MiMLS
• 2016-09-13 Listed $2,500 REALCOMP
• 2002-05-24 Sold (MLS) $57,000 MiRealSource-MiMLS
• 2002-04-15 Listing Removed — MiRealSource-MiMLS
• 2002-03-02 Listed $57,800 MiRealSource-MiMLS
• 2002-02-01 Sold (MLS) $24,900 MiRealSource-MiMLS
• 2001-11-09 Listing Removed — MiRealSource-MiMLS
• 2001-11-08 Listed $24,900 MiRealSource-MiMLS

Property tax history

+11.2%/yr

Latest (2025): $3,221 · +142.6% YoY. Source: county tax records.