20435 Basil St · Detroit, MI 48235

$149,900

3 bd · 1.5 ba · 1,555 sqft · SingleFamily public records · 41 Days on market

Built 1952 6,534 sqft lot Est $123k · 22% over ↓ 14% since listing

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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 +20.5/30.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• 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

ONE STORY CORNER BRICK RANCH. GREAT SIZE MASTER BEDROOM WITH MASTER BATH. NEW ROOF HOUSE AND GARAGE WITH GUTTERS 2026. OVER 1500 SQUARE FEET WITH BASEMENT AND 2 CAR GARAGE.

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/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 $148k (1.6% below list).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: 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); 291 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,475/mo this rent would consume 45% 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 $4k 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

• It's been on market 41 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1952 — 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. 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?
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: 0.98% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $122,845
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20140 Marlowe St	0.27mi	3/1.5	1,580 (+2%)	2mo	$112,500	$71	83
20285 Prevost St	0.47mi	3/1.5	1,546 (-1%)	7mo	$192,000	$124	72
20454 Oxley St	0.04mi	3/2.5	1,735 (+12%)	8mo	$122,000	$70	68
21611 Sussex St	0.67mi	3/1.5	1,529 (-2%)	3mo	$203,000	$133	64
20031 Ardmore St	0.55mi	2/1.5 (-1)	1,500 (-4%)	2mo	$105,000	$70	62
19490 Hubbell St	0.59mi	3/2.0	1,595 (+3%)	5mo	$80,000	$50	62
19758 Freeland St	0.64mi	3/1.0	1,580 (+2%)	9mo	$109,000	$69	58
19478 Winthrop St	0.61mi	3/1.5	1,674 (+8%)	1mo	$175,000	$105	58
19445 Hubbell St	0.62mi	3/1.0	1,660 (+7%)	2mo	$165,000	$99	57
20164 Tracey St	0.72mi	3/1.5	1,461 (-6%)	2mo	$115,000	$79	54
21310 Gardner St	0.68mi	3/2.0	1,423 (-8%)	4mo	$267,500	$188	49
19391 Sussex St	0.63mi	3/1.0	1,407 (-10%)	9mo	$90,000	$64	45

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-11,432
• Equity at exit: $22,351

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $7,606
• Equity at exit: $12,961

Cash invested: $41,972 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,475 high
• Mortgage (P&I): −$786
• Tax from tax record: −$121 /mo · $1,446/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $196

Break-even live

Break-even rent $1,227

Max offer price $149,900

Occupancy floor 82%

Sensitivity live

Price	-10% $281	-5% $239	+0% $196	+5% $154	+10% $111
Rent	-10% $80	-5% $138	+0% $196	+5% $255	+10% $313
Rate	-1.0pp $272	-0.5pp $234	base $196	+0.5pp $158	+1.0pp $118

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,300	$0.90	0d	1	0.52mi
20426 Tracey St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	26d	1	0.72mi
19503 Mansfield St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	18d	1	0.76mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	4d	1	0.92mi
20244 Oakfield St Detroit, MI	3.0	1.0	1915	$1,380	$0.72	45d	1	1.02mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	18d	1	1.04mi
19816 Harlow St Detroit, MI	2.0	1.5	1704	$1,150	$0.67	19d	1	1.10mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	6d	1	1.10mi
20510 Fenmore St Detroit, MI	3.0	1.0	1194	$1,300	$1.09	3d	1	1.13mi
21850 Coolidge Hwy #203 Oak Park, MI	3.0	2.0	1100	$1,700	$1.55	6d	1	1.14mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	21d	1	1.17mi
16500 N Park Dr Southfield, MI	1.0–3.0	1.0–2.5	1500	$2,289	$1.53	0d	1	1.18mi
19400 Harlow St Detroit, MI	4.0	1.0	1298	$1,275	$0.98	18d	1	1.20mi
20200 Ashton Ave Detroit, MI	3.0	1.0	1200	$1,200	$1.00	18d	1	1.28mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	5d	1	1.32mi
16200 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	971	$1,700	$1.75	6d	2	1.33mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	18d	1	1.34mi
23300 Providence Dr Southfield, MI	2.0–3.0	2.0	1342	$1,749	$1.30	1d	14	1.39mi
16176 Cumberland Rd Southfield, MI	2.0–3.0	2.0	1450	$1,675	$1.16	45d	1	1.46mi

Listing history 17 events

1. 2026-06-15
   statusdays on market $149,900 Pending 41 DOM
2. 2026-06-13
   days on market $149,900 Active 40 DOM
3. 2026-06-13
   days on market $149,900 Active 39 DOM
4. 2026-06-09
   days on market $149,900 Active 36 DOM
5. 2026-06-08
   days on market $149,900 Active 35 DOM
6. 2026-06-07
   days on market $149,900 Active 34 DOM
7. 2026-06-04
   statusdays on market $149,900 Active 31 DOM
8. 2026-02-27
   status Pending 172-char remark

   Show marketing remark (172 chars)

   ONE STORY CORNER BRICK RANCH. GREAT SIZE MASTER BEDROOM WITH MASTER BATH. NEW ROOF HOUSE AND GARAGE WITH GUTTERS 2026. OVER 1500 SQUARE FEET WITH BASEMENT AND 2 CAR GARAGE.

9. 2026-02-27
   status Pending

   Show marketing remark (172 chars)

   ONE STORY CORNER BRICK RANCH. GREAT SIZE MASTER BEDROOM WITH MASTER BATH. NEW ROOF HOUSE AND GARAGE WITH GUTTERS 2026. OVER 1500 SQUARE FEET WITH BASEMENT AND 2 CAR GARAGE.

10. 2026-01-28
    listed $149,900 Active 172-char remark

    Show marketing remark (172 chars)

    ONE STORY CORNER BRICK RANCH. GREAT SIZE MASTER BEDROOM WITH MASTER BATH. NEW ROOF HOUSE AND GARAGE WITH GUTTERS 2026. OVER 1500 SQUARE FEET WITH BASEMENT AND 2 CAR GARAGE.

11. 2026-01-28
    listed $149,900 Active

    Show marketing remark (172 chars)

    ONE STORY CORNER BRICK RANCH. GREAT SIZE MASTER BEDROOM WITH MASTER BATH. NEW ROOF HOUSE AND GARAGE WITH GUTTERS 2026. OVER 1500 SQUARE FEET WITH BASEMENT AND 2 CAR GARAGE.

12. 2022-10-21
    soldstatus $150,000 Sold 358-char remark

    Show marketing remark (358 chars)

    Brick 3 bedroom ranch home in great area of Detroit, near Jalen Rose Leadership Academy. Large rooms - formal dining room, kitchen with table space and den. The master bedroom has a private bath. 3rd bath in partially finished basement. New furnace, 2 car detached garage. Needs tender loving care. Seller will consider all offer - some flexibility in price.

13. 2022-10-21
    soldstatus $150,000 Closed

    Show marketing remark (358 chars)

    Brick 3 bedroom ranch home in great area of Detroit, near Jalen Rose Leadership Academy. Large rooms - formal dining room, kitchen with table space and den. The master bedroom has a private bath. 3rd bath in partially finished basement. New furnace, 2 car detached garage. Needs tender loving care. Seller will consider all offer - some flexibility in price.

14. 2022-08-22
    status Pending

    Show marketing remark (358 chars)

    Brick 3 bedroom ranch home in great area of Detroit, near Jalen Rose Leadership Academy. Large rooms - formal dining room, kitchen with table space and den. The master bedroom has a private bath. 3rd bath in partially finished basement. New furnace, 2 car detached garage. Needs tender loving care. Seller will consider all offer - some flexibility in price.

15. 2022-08-22
    status Pending 358-char remark

    Show marketing remark (358 chars)

    Brick 3 bedroom ranch home in great area of Detroit, near Jalen Rose Leadership Academy. Large rooms - formal dining room, kitchen with table space and den. The master bedroom has a private bath. 3rd bath in partially finished basement. New furnace, 2 car detached garage. Needs tender loving care. Seller will consider all offer - some flexibility in price.

16. 2022-08-10
    listed $175,000 Active 358-char remark

    Show marketing remark (358 chars)

    Brick 3 bedroom ranch home in great area of Detroit, near Jalen Rose Leadership Academy. Large rooms - formal dining room, kitchen with table space and den. The master bedroom has a private bath. 3rd bath in partially finished basement. New furnace, 2 car detached garage. Needs tender loving care. Seller will consider all offer - some flexibility in price.

17. 2022-08-10
    listed $175,000 Active

    Show marketing remark (358 chars)

    Brick 3 bedroom ranch home in great area of Detroit, near Jalen Rose Leadership Academy. Large rooms - formal dining room, kitchen with table space and den. The master bedroom has a private bath. 3rd bath in partially finished basement. New furnace, 2 car detached garage. Needs tender loving care. Seller will consider all offer - some flexibility in price.

ⓘ 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: $1,446 · $121/mo
• Projected year-2 tax: $1,877 · $156/mo
• Expected delta: +$431/yr (+$36/mo · 29.8%)

ⓘ 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 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: $17,702
• − Mortgage interest: −$8,397
• − Property taxes: −$1,446
• − Insurance: −$750
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$4,361
• Taxable loss: −$83
• Est. tax savings @ 24.0%: +$20
• After-tax cash flow: $2,376/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

-14.3% since first listed

10 events — show timeline

• 2026-02-27 Pending — MiRealSource-MiMLS
• 2026-02-27 Pending — REALCOMP
• 2026-01-28 Listed $149,900 REALCOMP
• 2026-01-28 Listed $149,900 MiRealSource-MiMLS
• 2022-10-21 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2022-10-21 Sold (MLS) $150,000 REALCOMP
• 2022-08-22 Pending — MiRealSource-MiMLS
• 2022-08-22 Pending — REALCOMP
• 2022-08-10 Listed $175,000 MiRealSource-MiMLS
• 2022-08-10 Listed $175,000 REALCOMP

Property tax history

-5.6%/yr

Latest (2025): $1,446 · -20.2% YoY. Source: county tax records.