20045 Ward Ave · Detroit, MI 48235

$159,900

4 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 13 Days on market

Built 1940 5,227 sqft lot Est $114k · 41% over

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Why this score? — see what drove the D- 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 +15.6/30.0
• DSCR +4.8/10.0
• 1% rule +4.4/10.0
• 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

Amazing Brick 4 Bedrooms, 2 Bathrooms With Finish basement And a detached 2 car Garage, complete renovation, New floors, Fresh Paints, NEW Kitchen, New Bathrooms, A complete Finish Basement with Open space . corner house with fenced backyard . A lot to mention , Must see will not last in market.

Key facts

• New kitchen
• Finish basement
• Complete renovation

Tags

• FINISH BASEMENT
• DETACHED CAR GARAGE
• COMPLETE RENOVATION
• NEW KITCHEN
• NEW BATHROOMS
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached 2-car garage; Detached parking
• Utilities: Public water; Natural gas water heater
• Home design: Colonial style; Single-family residence; Residential property
• Construction: Built in 1940; Brick construction; Shingle roof
• Exterior features: Corner lot

Interior

• Kitchen: Disposal; Microwave; Kitchen (8 x 10)
• Bedrooms: Primary bedroom (12 x 13); Bedroom 2 (12 x 11); Bedroom 3 (12 x 10); Bedroom 4 (12 x 11)
• Bathrooms: 2 full bathrooms (primary bath ~4 x 3; second bath ~4 x 3)
• Heating & cooling: Forced air heating; Has heating
• Interior features: Disposal; Microwave; Fireplace; Insulated windows; 7 total rooms; Full basement
• Laundry & utility: Utility room (5 x 6)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $67 ($807/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (5.9% below list).
• Recommended offer: $150k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Vernor Elementary School (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 328 students, 87% FRL); Mumford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 889 students, 86% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 291 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1,504/mo this rent would consume 46% of the median local household income ($39k/yr) (locally 3064% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 23y 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,443 (5.9% below list)

Questions for the listing agent

1. Built in 1940 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $113,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20100 Appoline St	0.20mi	3/1.5 (-1)	1,500 (+4%)	2mo	$90,000	$60	76
20164 Tracey St	0.33mi	3/1.5 (-1)	1,461 (+2%)	2mo	$115,000	$79	74
13517 Pembroke Ave	0.28mi	3/1.5 (-1)	1,386 (-4%)	4mo	$92,000	$66	71
20126 Steel St	0.15mi	3/1.0 (-1)	1,297 (-10%)	5mo	$65,625	$51	67
19775 Ward St	0.19mi	3/1.5 (-1)	1,337 (-7%)	6mo	$110,000	$82	67
20184 Ward St	0.10mi	4/2.5	1,589 (+10%)	7mo	$218,000	$137	66
19440 Hartwell St	0.39mi	3/1.5 (-1)	1,538 (+7%)	6mo	$95,000	$62	59
19209 Hartwell St	0.58mi	3/1.5 (-1)	1,406 (-2%)	6mo	$190,000	$135	57
18945 Littlefield St	0.72mi	3/1.5 (-1)	1,473 (+2%)	4mo	$180,000	$122	52
20466 Stansbury St	0.50mi	3/1.5 (-1)	1,243 (-14%)	1mo	$67,000	$54	46
19758 Freeland St	0.59mi	3/1.0 (-1)	1,580 (+10%)	9mo	$109,000	$69	43
18953 Littlefield St	0.72mi	3/1.0 (-1)	1,575 (+9%)	5mo	$206,500	$131	42

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-21,214
• Equity at exit: $23,842

10-year hold

• IRR: -3.7%
• Equity multiple: 0.75×
• Total profit: $-11,259
• Equity at exit: $13,825

Cash invested: $44,772 (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: 291
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,504 high
• Mortgage (P&I): −$839
• Tax from tax record: −$216 /mo · $2,593/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $67

Break-even live

Break-even rent $1,419

Max offer price $159,900

Occupancy floor 91%

Sensitivity live

Price	-10% $158	-5% $113	+0% $67	+5% $22	+10% $-23
Rent	-10% $-52	-5% $8	+0% $67	+5% $127	+10% $186
Rate	-1.0pp $148	-0.5pp $108	base $67	+0.5pp $26	+1.0pp $-16

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	45d	1	0.33mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	4d	1	0.35mi
20426 Tracey St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	26d	1	0.38mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	22d	1	0.38mi
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,300	$0.90	0d	1	0.54mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	45d	1	0.70mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	26d	1	0.83mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	19d	1	0.91mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	19d	1	0.91mi
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	19d	1	1.05mi
21374 Ithaca Ave Ferndale, MI	3.0	1.0	996	$1,775	$1.78	26d	1	1.05mi
21850 Coolidge Hwy #203 Oak Park, MI	3.0	2.0	1100	$1,700	$1.55	7d	1	1.10mi
18935 Indiana St Detroit, MI	3.0	1.0	1248	$1,523	$1.22	7d	1	1.10mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	19d	1	1.11mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	4d	1	1.19mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	45d	1	1.21mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	18d	1	1.23mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,500	$1.49	0d	1	1.27mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	45d	1	1.39mi
22811 Rosewood St Oak Park, MI	3.0	1.0	1000	$1,600	$1.60	26d	1	1.46mi

Listing history 9 events

1. 2026-06-21
   days on market $159,900 Active 13 DOM
2. 2026-06-18
   days on market $159,900 Active 10 DOM
3. 2026-06-17
   days on market $159,900 Active 9 DOM
4. 2026-06-16
   days on market $159,900 Active 8 DOM
5. 2026-06-15
   days on market $159,900 Active 7 DOM
6. 2026-06-13
   days on market $159,900 Active 5 DOM
7. 2026-06-13
   days on market $159,900 Active 4 DOM
8. 2026-06-09
   remarks 296-char remark
9. 2026-06-09
   listed $159,900 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: $2,593 · $216/mo
• Projected year-2 tax: $2,593 · $216/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $18,053
• − Mortgage interest: −$8,957
• − Property taxes: −$2,593
• − Insurance: −$800
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$4,652
• Taxable loss: −$1,836
• Est. tax savings @ 24.0%: +$441
• After-tax cash flow: $1,248/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

+116.1% since first listed

12 events — show timeline

• 2026-06-08 Listed $159,900 REALCOMP
• 2026-06-08 Listed $159,900 MiRealSource-MiMLS
• 2026-06-08 Listed $159,900 SW Michigan MLS
• 2004-05-25 Sold (Public Records) $148,500 Public Records
• 2003-12-12 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2003-12-12 Sold (MLS) $150,000 REALCOMP
• 2003-11-10 Listing Removed — MiRealSource-MiMLS
• 2003-10-07 Listed $150,000 MiRealSource-MiMLS
• 2003-10-07 Listed $150,000 REALCOMP
• 2003-04-28 Listing Removed — REALCOMP
• 2003-02-04 Listed $125,000 REALCOMP
• 2002-11-11 Sold (Public Records) $74,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $2,593 · +0.4% YoY. Source: county tax records.