20510 Gilchrist St · Detroit, MI 48235

$100,000

3 bd · 1.0 ba · 1,043 sqft · SingleFamily public records · 19 Days on market

Built 1948 5,227 sqft lot Est $108k · 8% under

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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 +11.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This delightful turn-key 3-bedroom, 2-bathroom brick bungalow is the perfect start to your homeownership journey or investment journey. Freshly painted interiors and a brand-new kitchen (2023) mean you can move in and start making memories right away. The fully fenced backyard is ideal for pets or future play areas, and the detached garage offers convenience and storage. Located in a friendly neighborhood. This home is move-in ready and waiting for you!

Key facts

• Turn-key
• Brand-new kitchen
• Detached garage

Tags

• TURN-KEY
• FRESHLY PAINTED INTERIORS
• BRAND-NEW KITCHEN
• FULLY FENCED BACKYARD
• DETACHED GARAGE
• FRIENDLY NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/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: $98k (1.5% 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 (+3.2%/yr); 283 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 43% 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 + 3.2% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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.
• Current owner paid $12k; list at $100k implies a 700% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.43%
• DSCR: 1.86
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $108,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20569 Biltmore St	0.06mi	3/1.5	1,073 (+3%)	2mo	$174,000	$162	89
16442 Pembroke Ave	0.40mi	3/1.0	1,050 (+1%)	4mo	$40,000	$38	77
19950 Oakfield St	0.33mi	3/1.0	1,001 (-4%)	5mo	$40,000	$40	74
16910 Pembroke Ave	0.39mi	3/1.0	1,150 (+10%)	1mo	$50,000	$43	64
19975 Ferguson St	0.29mi	3/1.0	889 (-15%)	1mo	$50,650	$57	61
20245 Archdale St	0.23mi	3/1.0	890 (-15%)	4mo	$53,000	$60	61
20253 Winthrop St	0.58mi	3/1.0	1,093 (+5%)	5mo	$145,900	$133	61
20004 Southfield Fwy	0.39mi	2/1.0 (-1)	929 (-11%)	1mo	$20,000	$22	57
20232 Prevost St	0.48mi	3/1.0	933 (-10%)	4mo	$110,000	$118	56
19338 Fenmore St	0.75mi	3/1.0	1,120 (+7%)	1mo	$116,000	$104	52
19900 Southfield Rd	0.48mi	3/1.0	898 (-14%)	4mo	$110,000	$122	51
19365 Fenmore St	0.73mi	3/1.0	912 (-13%)	1mo	$94,900	$104	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: 11.7%
• Equity multiple: 1.47×
• Total profit: $13,036
• Equity at exit: $14,910

10-year hold

• IRR: 20.9%
• Equity multiple: 2.79×
• Total profit: $50,039
• 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 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,420 high
• Mortgage (P&I): −$524
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $453

Break-even live

Break-even rent $846

Max offer price $100,000

Occupancy floor 63%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	5d	1	0.03mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	24d	1	0.13mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	5d	1	0.14mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	16d	1	0.19mi
20510 Fenmore St Detroit, MI	3.0	1.0	1194	$1,300	$1.09	1d	1	0.27mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,453	$1.41	43d	1	0.37mi
20200 Ashton Ave Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.43mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	15d	1	0.48mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	43d	1	0.49mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	43d	1	0.49mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	15d	5	0.49mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	43d	1	0.50mi
19503 Mansfield St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	16d	1	0.61mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	24d	1	0.62mi
19400 Harlow St Detroit, MI	4.0	1.0	1298	$1,275	$0.98	16d	1	0.65mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	16d	1	0.67mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.71mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	0.78mi
16500 N Park Dr Southfield, MI	1.0–3.0	1.0–2.5	1500	$2,289	$1.53	1d	1	0.81mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	43d	1	0.94mi
20271 Grandville Ave Detroit, MI	3.0	1.0	1010	$1,550	$1.53	23d	1	1.05mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	43d	1	1.07mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	5d	1	1.17mi
16200 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	971	$1,700	$1.75	5d	2	1.17mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	15d	1	1.19mi
16300 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	950	$1,350	$1.42	43d	1	1.19mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	16d	1	1.21mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	5d	1	1.28mi
18964 Coyle St Detroit, MI	3.0	1.0	1300	$1,350	$1.04	2d	1	1.31mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	1.31mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	1.31mi
16176 Cumberland Rd Southfield, MI	2.0–3.0	2.0	1450	$1,675	$1.16	43d	1	1.33mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	16d	1	1.35mi
23300 Providence Dr Southfield, MI	2.0–3.0	2.0	1342	$1,749	$1.30	2d	15	1.36mi
20042 Freeland St Detroit, MI	3.0	1.5	1445	$1,400	$0.97	16d	1	1.36mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	1.37mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	5d	1	1.38mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	43d	1	1.38mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,373	$1.80	12d	1	1.41mi
19457 Evergreen Rd Detroit, MI	2.0	1.0	1100	$1,200	$1.09	43d	1	1.48mi

Listing history 6 events

1. 2026-02-02
   status Pending 471-char remark

   Show marketing remark (471 chars)

   Welcome home! This delightful turn-key 3-bedroom, 2-bathroom brick bungalow is the perfect start to your homeownership journey or investment journey. Freshly painted interiors and a brand-new kitchen (2023) mean you can move in and start making memories right away. The fully fenced backyard is ideal for pets or future play areas, and the detached garage offers convenience and storage. Located in a friendly neighborhood. This home is move-in ready and waiting for you!

2. 2026-02-02
   status Pending

   Show marketing remark (471 chars)

   Welcome home! This delightful turn-key 3-bedroom, 2-bathroom brick bungalow is the perfect start to your homeownership journey or investment journey. Freshly painted interiors and a brand-new kitchen (2023) mean you can move in and start making memories right away. The fully fenced backyard is ideal for pets or future play areas, and the detached garage offers convenience and storage. Located in a friendly neighborhood. This home is move-in ready and waiting for you!

3. 2026-01-14
   listed $100,000 Active 471-char remark

   Show marketing remark (471 chars)

   Welcome home! This delightful turn-key 3-bedroom, 2-bathroom brick bungalow is the perfect start to your homeownership journey or investment journey. Freshly painted interiors and a brand-new kitchen (2023) mean you can move in and start making memories right away. The fully fenced backyard is ideal for pets or future play areas, and the detached garage offers convenience and storage. Located in a friendly neighborhood. This home is move-in ready and waiting for you!

4. 2026-01-14
   listed $100,000 Active

   Show marketing remark (471 chars)

   Welcome home! This delightful turn-key 3-bedroom, 2-bathroom brick bungalow is the perfect start to your homeownership journey or investment journey. Freshly painted interiors and a brand-new kitchen (2023) mean you can move in and start making memories right away. The fully fenced backyard is ideal for pets or future play areas, and the detached garage offers convenience and storage. Located in a friendly neighborhood. This home is move-in ready and waiting for you!

5. 2009-04-17
   soldstatus $12,500 263-char remark

   Show marketing remark (263 chars)

   SOLD AS IS. NO SELLER'S DIS STMT. BUYER AGENT TO VERIFY ALL INFORMATION. INFO BELIEVED TO BE ACCURATE, BUT NOT GUARANTEED. CORP ADDEN TO BE SIGNED BY BUYER. BUYER TO SIGN ACR WITH CITY OF DETROIT. LISTING BROKER TO HOLD DEP CK. COMM TO BE PAID ON NET SALES PRICE.

6. 2008-08-18
   listed $30,000 263-char remark

   Show marketing remark (263 chars)

   SOLD AS IS. NO SELLER'S DIS STMT. BUYER AGENT TO VERIFY ALL INFORMATION. INFO BELIEVED TO BE ACCURATE, BUT NOT GUARANTEED. CORP ADDEN TO BE SIGNED BY BUYER. BUYER TO SIGN ACR WITH CITY OF DETROIT. LISTING BROKER TO HOLD DEP CK. COMM TO BE PAID ON NET SALES 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: $1,225 · $102/mo
• Projected year-2 tax: $1,383 · $115/mo
• Expected delta: +$157/yr (+$13/mo · 12.8%)

ⓘ 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: $17,036
• − Mortgage interest: −$5,602
• − Property taxes: −$1,225
• − Insurance: −$500
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − Depreciation: −$2,909
• Taxable income: $4,074
• Est. tax owed @ 24.0%: −$978
• After-tax cash flow: $4,463/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

+233.3% since first listed

6 events — show timeline

• 2026-02-02 Pending — MiRealSource-MiMLS
• 2026-02-02 Pending — REALCOMP
• 2026-01-14 Listed $100,000 REALCOMP
• 2026-01-14 Listed $100,000 MiRealSource-MiMLS
• 2009-04-17 Sold (MLS) $12,500 REALCOMP
• 2008-08-18 Listed $30,000 REALCOMP

Property tax history

-4.0%/yr

Latest (2025): $1,225 · -53.9% YoY. Source: county tax records.