19195 Dresden St · Detroit, MI 48205

$49,000

2 bd · 1.0 ba · 725 sqft · SingleFamily public records · 64 Days on market

Built 1940 5,227 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 10.2% 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); 373 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 37% 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 $339 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $19k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 2.45% ✓
• Cap rate: 20.44%
• Cash-on-cash: 50.54%
• DSCR: 3.25
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $26,825
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20091 Annott St	0.63mi	2/1.0	747 (+3%)	1mo	$12,800	$17	65
19392 Pelkey St	0.73mi	2/1.0	731 (+1%)	2mo	$30,000	$41	63
19735 Annott St	0.35mi	3/1.0 (+1)	780 (+8%)	4mo	$69,500	$89	63
11839 Greiner St	0.60mi	2/1.0	743 (+2%)	12mo	$22,000	$30	58
19758 Waltham St	0.45mi	3/1.0 (+1)	790 (+9%)	3mo	$6,000	$8	56
20083 Bradford St	0.61mi	2/1.0	648 (-11%)	0mo	$24,000	$37	54
20061 Westphalia St	0.70mi	2/1.0	712 (-2%)	13mo	$75,000	$105	53
19161 Joann St	0.50mi	2/1.0	816 (+13%)	6mo	$70,000	$86	50
19960 Bradford St	0.50mi	3/1.0 (+1)	786 (+8%)	10mo	$10,000	$13	49
19988 Joann St	0.74mi	2/1.0	718 (-1%)	18mo	$26,000	$36	49
13225 E State Fair St	0.69mi	2/1.0	750 (+3%)	16mo	$25,000	$33	48
19140 Pelkey St	0.72mi	2/1.0	689 (-5%)	16mo	$63,000	$91	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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 46.4%
• Equity multiple: 2.96×
• Total profit: $26,918
• Equity at exit: $7,306

10-year hold

• IRR: 51.4%
• Equity multiple: 5.60×
• Total profit: $63,119
• Equity at exit: $4,237

Cash invested: $13,720 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,198 high
• Mortgage (P&I): −$257
• Tax from tax record: −$91 /mo · $1,095/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $578

Break-even live

Break-even rent $467

Max offer price $49,000

Occupancy floor 47%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	0.26mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.26mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	17d	1	0.63mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.96mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	17d	1	0.97mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	43d	1	1.28mi
14103 Rochelle Ave Unit 3 Detroit, MI	1.0	1.0	700	$800	$1.14	43d	1	1.36mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.41mi

Listing history 27 events

1. 2026-04-21
   status Pending

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

2. 2026-04-21
   status Pending 148-char remark

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

3. 2026-04-14
   historical Accepting Backup Offers 148-char remark

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

4. 2026-04-14
   historical Active Under Contract

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

5. 2026-04-06
   price $49,000 148-char remark

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

6. 2026-04-06
   price $49,000

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

7. 2026-02-26
   price $59,000 148-char remark

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

8. 2026-02-26
   price $59,000

   Show marketing remark (148 chars)

   Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

9. 2026-02-17
   listed $68,000 Active
10. 2026-02-16
    listed $68,000 Active 148-char remark

    Show marketing remark (148 chars)

    Excellent opportunity to purchase this single-family home on Detroit's East Side. Property is in good shape, with just a few minor touch-ups needed.

11. 2023-03-14
    historical
12. 2023-03-14
    historical
13. 2023-02-08
    price $43,499
14. 2023-02-07
    price $43,499
15. 2023-01-21
    price $48,000
16. 2023-01-20
    price $48,000
17. 2022-12-13
    listed $55,000 Active
18. 2022-12-13
    listed $55,000 Active
19. 2009-07-31
    historical
20. 2009-05-21
    listed $3,900
21. 1999-05-11
    soldstatus $44,000
22. 1999-04-13
    historical
23. 1999-01-30
    listed $45,000
24. 1997-09-05
    soldstatus $35,126
25. 1996-10-02
    soldstatus $32,000
26. 1996-05-28
    soldstatus $13,000
27. 1996-05-28
    soldstatus $15,000

ⓘ 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: $1,095 · $91/mo
• Projected year-2 tax: $1,095 · $91/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 3/10 Moderate 7 d/yr ≥96°F today · 14 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: $14,377
• − Mortgage interest: −$2,745
• − Property taxes: −$1,095
• − Insurance: −$245
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$1,425
• Taxable income: $6,566
• Est. tax owed @ 24.0%: −$1,576
• After-tax cash flow: $5,358/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

+276.9% since first listed

27 events — show timeline

• 2026-04-21 Pending — REALCOMP
• 2026-04-21 Pending — MiRealSource-MiMLS
• 2026-04-14 Contingent — MiRealSource-MiMLS
• 2026-04-14 Contingent — REALCOMP
• 2026-04-06 Price Changed $49,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $49,000 REALCOMP
• 2026-02-26 Price Changed $59,000 MiRealSource-MiMLS
• 2026-02-26 Price Changed $59,000 REALCOMP
• 2026-02-17 Listed $68,000 REALCOMP
• 2026-02-16 Listed $68,000 MiRealSource-MiMLS
• 2023-03-14 Listing Removed — MiRealSource-MiMLS
• 2023-03-14 Listing Removed — REALCOMP
• 2023-02-08 Price Changed $43,499 MiRealSource-MiMLS
• 2023-02-07 Price Changed $43,499 REALCOMP
• 2023-01-21 Price Changed $48,000 MiRealSource-MiMLS
• 2023-01-20 Price Changed $48,000 REALCOMP
• 2022-12-13 Listed $55,000 MiRealSource-MiMLS
• 2022-12-13 Listed $55,000 REALCOMP
• 2009-07-31 Listing Removed — REALCOMP
• 2009-05-21 Listed $3,900 REALCOMP
• 1999-05-11 Sold (MLS) $44,000 MiRealSource-MiMLS
• 1999-04-13 Listing Removed — MiRealSource-MiMLS
• 1999-01-30 Listed $45,000 MiRealSource-MiMLS
• 1997-09-05 Sold (Public Records) $35,126 Public Records
• 1996-10-02 Sold (Public Records) $32,000 Public Records
• 1996-05-28 Sold (Public Records) $15,000 Public Records
• 1996-05-28 Sold (Public Records) $13,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,095 · +1.6% YoY. Source: county tax records.