20037 Gallagher St · Detroit, MI 48234

$70,000

3 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 212 Days on market

Built 1939 3,920 sqft lot $60/sqft · at area comps Est $69k · at est. ↓ 3% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.2/15.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

Key facts

• 3,920 sq ft lot
• Garage
• Built 1939

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 10.1% 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 fast (+6.7%/yr); 227 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1,336/mo this rent would consume 45% of the median local household income ($35k/yr) (locally 2372% 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 $484 of loan paydown is wiped out by about $2k 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 + 6.7% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $70k implies a 700% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 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 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.91% ✓
• Cap rate: 16.17%
• Cash-on-cash: 35.27%
• DSCR: 2.57
• GRM: 4.4

CMA / ARV

• ARV (median comp): $69,491
• List price: $70,000
• Delta: 0.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20450 Gallagher St	0.24mi	3/1.0	1,291 (+10%)	1mo	$45,000	$35	71
20409 Yonka St	0.29mi	3/1.0	1,050 (-11%)	1mo	$93,000	$89	68
19662 Charest St	0.24mi	3/1.0	1,041 (-11%)	2mo	$69,000	$66	68
19155 Gallagher St	0.60mi	3/1.5	1,208 (+3%)	0mo	$129,900	$108	65
19365 Goddard St	0.56mi	3/1.0	1,100 (-6%)	1mo	$97,500	$89	63
19360 Revere St	0.43mi	3/1.0	1,050 (-11%)	2mo	$78,000	$74	61
20426 Wexford St	0.36mi	3/1.5	1,009 (-14%)	1mo	$117,000	$116	58
20811 Sunset Ave	0.65mi	3/1.0	1,090 (-7%)	3mo	$122,000	$112	56
20041 Marx St	0.70mi	3/1.5	1,233 (+5%)	2mo	$130,500	$106	55
19155 Ryan Rd	0.70mi	3/1.0	1,068 (-9%)	2mo	$45,000	$42	51
19672 Justine St	0.66mi	3/1.0	1,050 (-11%)	2mo	$47,500	$45	50
3168 Berkshire Ave	0.67mi	2/1.0 (-1)	1,320 (+12%)	2mo	$80,000	$61	41

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 31.2%
• Equity multiple: 2.38×
• Total profit: $27,054
• Equity at exit: $10,437

10-year hold

• IRR: 40.5%
• Equity multiple: 5.56×
• Total profit: $89,449
• Equity at exit: $6,052

Cash invested: $19,600 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 227
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,336 high
• Mortgage (P&I): −$367
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$29
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $521

Break-even live

Break-even rent $677

Max offer price $70,000

Occupancy floor 56%

Sensitivity live

Price	-10% $560	-5% $540	+0% $521	+5% $501	+10% $481
Rent	-10% $415	-5% $468	+0% $521	+5% $573	+10% $626
Rate	-1.0pp $556	-0.5pp $538	base $521	+0.5pp $502	+1.0pp $484

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	25d	1	0.18mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	0.19mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.26mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.34mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	0.35mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.35mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	0.40mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	25d	1	0.69mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	0.73mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.81mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	25d	1	0.91mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	0.92mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.93mi
18662 Sunset St Detroit, MI	2.0	1.0	726	$1,250	$1.72	18d	1	0.95mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	0.96mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.97mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	44d	1	1.03mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	1.05mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	1.08mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	1.09mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	1.10mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	17d	1	1.11mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	1.11mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	19d	1	1.15mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	1.21mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	17d	1	1.21mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	17d	1	1.22mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	2d	1	1.22mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	6d	1	1.24mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	25d	1	1.25mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,364	$5.80	0d	1	1.28mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	1.29mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	22d	1	1.29mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	44d	1	1.29mi
18677 Moenart St Detroit, MI	2.0	1.0	1470	$1,200	$0.82	44d	1	1.30mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	21d	1	1.36mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	25d	1	1.37mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	25d	1	1.46mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	44d	1	1.46mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1152	$1,595	$1.38	2d	1	1.48mi

Listing history 31 events

1. 2026-06-21
   days on market $70,000 Active 212 DOM
2. 2026-06-18
   days on market $70,000 Active 209 DOM
3. 2026-06-17
   days on market $70,000 Active 208 DOM
4. 2026-06-15
   days on market $70,000 Active 206 DOM
5. 2026-06-13
   days on market $70,000 Active 204 DOM
6. 2026-06-13
   days on market $70,000 Active 203 DOM
7. 2026-06-09
   days on market $70,000 Active 200 DOM
8. 2026-06-08
   days on market $70,000 Active 199 DOM
9. 2026-06-07
   days on market $70,000 Active 198 DOM
10. 2026-06-04
    days on market $70,000 Active 195 DOM
11. 2026-06-03
    days on market $70,000 Active 194 DOM
12. 2026-06-01
    days on market $70,000 Active 192 DOM
13. 2026-05-31
    days on market $70,000 Active 191 DOM
14. 2026-05-05
    price $70,000 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

15. 2026-05-04
    price $70,000 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

16. 2025-11-21
    listed $80,000 Active 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

17. 2025-11-21
    listed $80,000 Active 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

18. 2025-11-20
    historical
19. 2025-11-20
    historical
20. 2025-05-26
    listed $80,000 Active
21. 2025-05-26
    listed $80,000 Active
22. 2025-05-21
    historical
23. 2010-04-09
    soldstatus $8,745
24. 2010-04-09
    soldstatus $8,745
25. 2010-02-03
    historical
26. 2010-01-29
    listed $8,000
27. 2008-07-04
    listed $8,000
28. 2003-11-05
    soldstatus $91,000
29. 2002-11-20
    soldstatus $55,000
30. 2002-10-21
    historical
31. 2002-08-16
    listed $71,900

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$40/yr (+$3/mo · 4.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,034
• − Mortgage interest: −$3,921
• − Property taxes: −$998
• − Insurance: −$1,016
• − Repairs & maintenance: −$1,283
• − Management: −$1,283
• − Depreciation: −$2,036
• Taxable income: $5,497
• Est. tax owed @ 24.0%: −$1,319
• After-tax cash flow: $4,928/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · French/Haitian/Cajun 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

-2.6% since first listed

18 events — show timeline

• 2026-05-05 Price Changed $70,000 MiRealSource-MiMLS
• 2026-05-04 Price Changed $70,000 REALCOMP
• 2025-11-21 Listed $80,000 REALCOMP
• 2025-11-21 Listed $80,000 MiRealSource-MiMLS
• 2025-11-20 Listing Removed — MiRealSource-MiMLS
• 2025-11-20 Listing Removed — REALCOMP
• 2025-05-26 Listed $80,000 MiRealSource-MiMLS
• 2025-05-26 Listed $80,000 REALCOMP
• 2025-05-21 Coming Soon — MiRealSource-MiMLS
• 2010-04-09 Sold (MLS) $8,745 REALCOMP
• 2010-04-09 Sold (MLS) $8,745 MiRealSource-MiMLS
• 2010-02-03 Listing Removed — MiRealSource-MiMLS
• 2010-01-29 Listed $8,000 MiRealSource-MiMLS
• 2008-07-04 Listed $8,000 REALCOMP
• 2003-11-05 Sold (Public Records) $91,000 Public Records
• 2002-11-20 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2002-10-21 Listing Removed — MiRealSource-MiMLS
• 2002-08-16 Listed $71,900 MiRealSource-MiMLS

Property tax history

-4.5%/yr

Latest (2025): $998 · -53.7% YoY. Source: county tax records.