20560 Dresden St · Detroit, MI 48205

$100,000

2 bd · 1.0 ba · 683 sqft · SingleFamily public records · 272 Days on market

Built 1949 4,792 sqft lot $146/sqft · 52% above area

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• 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

Completely rehabbed by licensed contractors with all permits pulled for the performed rehabilitation. Luxury Vinyl flooring new windows paint etc. 3 car garage with electricity. The property is also offered for lease at $1,100 a month. The seller is a licensed agent in the state of Michigan. All measurements approximate. LC terms are negotiable but minimum 20,000 down payment. property is tenant-occupied.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1949

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% 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 (+1.3%/yr); 373 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $691 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 + 1.3% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask is 8991% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $14k; list at $100k implies a 590% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.26% ✓
• Cap rate: 10.49%
• Cash-on-cash: 14.99%
• DSCR: 1.67
• GRM: 6.6

CMA / ARV

• ARV (median comp): $65,946
• List price: $100,000
• Delta: 51.64%
• Verdict: OVERPRICED
• 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	0.04mi	2/1.5	680 (-0%)	0mo	$33,000	$49	95
20083 Bradford St	0.25mi	2/1.0	648 (-5%)	0mo	$24,000	$37	80
12832 Sherman Ave	0.48mi	2/1.0	696 (+2%)	2mo	$100,000	$144	73
20091 Annott St	0.27mi	2/1.0	747 (+9%)	1mo	$12,800	$17	71
13075 Sherman Ave	0.60mi	2/1.0	700 (+2%)	6mo	$83,000	$119	63
13119 Sherman Ave	0.62mi	2/1.0	696 (+2%)	7mo	$80,000	$115	62
13475 Coleen Ave	0.69mi	2/1.0	672 (-2%)	6mo	$65,000	$97	60
12426 Sidonie Ave	0.46mi	2/1.0	750 (+10%)	4mo	$131,000	$175	59
13415 Sherman Ave	0.73mi	2/1.0	710 (+4%)	7mo	$113,300	$160	53
12856 Couwlier Ave	0.62mi	2/1.0	768 (+12%)	7mo	$57,000	$74	45
19735 Annott St	0.54mi	3/1.0 (+1)	780 (+14%)	4mo	$69,500	$89	43
20210 Hickory St	0.65mi	3/1.0 (+1)	779 (+14%)	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: 3.8%
• Equity multiple: 1.14×
• Total profit: $3,986
• Equity at exit: $14,910

10-year hold

• IRR: 11.7%
• Equity multiple: 1.85×
• Total profit: $23,862
• Equity at exit: $8,646

Cash invested: $28,000 (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: 373
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$524
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $350

Break-even live

Break-even rent $818

Max offer price $100,000

Occupancy floor 67%

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: $25,000
• Closing costs: $3,000
• 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	43d	1	0.49mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.64mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.81mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.82mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	43d	1	0.89mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	17d	1	1.26mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	24d	1	1.36mi

Listing history 39 events

1. 2026-06-18
   days on market $100,000 Active 272 DOM
2. 2026-06-17
   days on market $100,000 Active 271 DOM
3. 2026-06-15
   days on market $100,000 Active 269 DOM
4. 2026-06-13
   days on market $100,000 Active 267 DOM
5. 2026-06-13
   days on market $100,000 Active 266 DOM
6. 2026-06-09
   days on market $100,000 Active 263 DOM
7. 2026-06-08
   days on market $100,000 Active 262 DOM
8. 2026-06-07
   days on market $100,000 Active 261 DOM
9. 2026-06-04
   days on market $100,000 Active 258 DOM
10. 2026-06-03
    days on market $100,000 Active 257 DOM
11. 2026-06-01
    days on market $100,000 Active 255 DOM
12. 2026-05-31
    days on market $100,000 Active 254 DOM
13. 2025-10-09
    historical $900
14. 2025-09-26
    price $900
15. 2025-09-25
    price $79,000 408-char remark

    Show marketing remark (408 chars)

    Completely rehabbed by licensed contractors with all permits pulled for the performed rehabilitation. Luxury Vinyl flooring new windows paint etc. 3 car garage with electricity. The property is also offered for lease at $1,100 a month. The seller is a licensed agent in the state of Michigan. All measurements approximate. LC terms are negotiable but minimum 20,000 down payment. property is tenant-occupied.

16. 2025-09-24
    price $79,000 408-char remark

    Show marketing remark (408 chars)

    Completely rehabbed by licensed contractors with all permits pulled for the performed rehabilitation. Luxury Vinyl flooring new windows paint etc. 3 car garage with electricity. The property is also offered for lease at $1,100 a month. The seller is a licensed agent in the state of Michigan. All measurements approximate. LC terms are negotiable but minimum 20,000 down payment. property is tenant-occupied.

17. 2025-09-23
    listed $1,100
18. 2025-09-19
    listed $99,000 Active 408-char remark

    Show marketing remark (408 chars)

    Completely rehabbed by licensed contractors with all permits pulled for the performed rehabilitation. Luxury Vinyl flooring new windows paint etc. 3 car garage with electricity. The property is also offered for lease at $1,100 a month. The seller is a licensed agent in the state of Michigan. All measurements approximate. LC terms are negotiable but minimum 20,000 down payment. property is tenant-occupied.

19. 2025-09-19
    listed $99,000 Active 408-char remark

    Show marketing remark (408 chars)

    Completely rehabbed by licensed contractors with all permits pulled for the performed rehabilitation. Luxury Vinyl flooring new windows paint etc. 3 car garage with electricity. The property is also offered for lease at $1,100 a month. The seller is a licensed agent in the state of Michigan. All measurements approximate. LC terms are negotiable but minimum 20,000 down payment. property is tenant-occupied.

20. 2023-03-02
    historical
21. 2023-03-02
    status Active
22. 2023-01-01
    historical
23. 2022-12-31
    historical
24. 2022-03-07
    listed $100,000 Active
25. 2022-03-07
    listed $100,000 Active
26. 2021-12-10
    historical
27. 2021-12-09
    status Pending
28. 2021-12-09
    status Pending
29. 2021-12-09
    historical
30. 2021-12-07
    price $88,000
31. 2021-12-06
    price $88,000
32. 2021-11-14
    listed $100,000 Active
33. 2021-11-14
    listed $100,000 Active
34. 2021-06-07
    soldstatus $14,500 Sold
35. 2021-06-07
    soldstatus $14,500 Closed
36. 2021-05-28
    status Pending
37. 2021-05-28
    listed $15,000 Active
38. 2021-05-28
    listed $15,000
39. 2021-05-28
    historical

ⓘ 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: $957 · $80/mo
• Projected year-2 tax: $1,249 · $104/mo
• Expected delta: +$291/yr (+$24/mo · 30.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: −$5,602
• − Property taxes: −$957
• − Insurance: −$500
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$2,909
• Taxable income: $2,737
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $3,541/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

+426.7% since first listed

27 events — show timeline

• 2025-10-09 Rental Removed $900 REALSOURCE
• 2025-09-26 Price Changed $900 REALSOURCE
• 2025-09-25 Price Changed $79,000 MiRealSource-MiMLS
• 2025-09-24 Price Changed $79,000 REALCOMP
• 2025-09-23 Listed for Rent $1,100 REALSOURCE
• 2025-09-19 Listed $99,000 REALCOMP
• 2025-09-19 Listed $99,000 MiRealSource-MiMLS
• 2023-03-02 Listing Removed — REALCOMP
• 2023-03-02 Relisted — REALCOMP
• 2023-01-01 Listing Removed — MiRealSource-MiMLS
• 2022-12-31 Listing Removed — REALCOMP
• 2022-03-07 Listed $100,000 MiRealSource-MiMLS
• 2022-03-07 Listed $100,000 REALCOMP
• 2021-12-10 Listing Removed — REALCOMP
• 2021-12-09 Pending — MiRealSource-MiMLS
• 2021-12-09 Pending — REALCOMP
• 2021-12-09 Listing Removed — MiRealSource-MiMLS
• 2021-12-07 Price Changed $88,000 MiRealSource-MiMLS
• 2021-12-06 Price Changed $88,000 REALCOMP
• 2021-11-14 Listed $100,000 MiRealSource-MiMLS
• 2021-11-14 Listed $100,000 REALCOMP
• 2021-06-07 Sold (MLS) $14,500 MiRealSource-MiMLS
• 2021-06-07 Sold (MLS) $14,500 REALCOMP
• 2021-05-28 Pending — REALCOMP
• 2021-05-28 Listing Removed — MiRealSource-MiMLS
• 2021-05-28 Listed $15,000 MiRealSource-MiMLS
• 2021-05-28 Listed $15,000 REALCOMP

Property tax history

-0.4%/yr

Latest (2025): $957 · -53.7% YoY. Source: county tax records.