20166 Hanna St · Detroit, MI 48203

$68,000

3 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 198 Days on market

Built 1942 3,920 sqft lot $62/sqft · 8% above area Est $53k · 29% over ↓ 9% since listing

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Why this score? — see what drove the C 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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

Great rental opportunity. Tenant occupied, Section 8, with a lease to be honored. This is a long-term tenant. The owner is allowing you to gain the guaranteed treasures of cash flow. Please don't disturb the tenant; showings are allowed once an offer is accepted. The buyer's personal inspection will be honored once an offer is accepted.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1942

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% 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: 216 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 44% of the median local income ($38k/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 $470 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 + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y 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 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 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 1942 — 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: 2.05% ✓
• Cap rate: 17.17%
• Cash-on-cash: 38.83%
• DSCR: 2.73
• GRM: 4.1

CMA / ARV

• ARV (median comp): $52,801
• List price: $68,000
• Delta: 28.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1107 E Muir Ave	0.37mi	3/1.0	1,081 (-2%)	1mo	$147,900	$137	79
20473 Greeley St	0.19mi	3/1.0	1,179 (+7%)	0mo	$47,000	$40	79
19710 Greeley St	0.31mi	3/1.5	1,143 (+4%)	3mo	$80,000	$70	74
19640 Yacama Rd	0.52mi	3/1.0	1,156 (+5%)	1mo	$15,000	$13	66
1218 E Milton Ave	0.47mi	3/1.0	1,021 (-7%)	1mo	$155,000	$152	65
19365 Goddard St	0.75mi	3/1.0	1,100 (+0%)	0mo	$97,500	$89	64
20041 Marx St	0.27mi	3/1.5	1,233 (+12%)	2mo	$130,500	$106	63
750 E Hayes Ave	0.54mi	4/1.5 (+1)	1,125 (+2%)	2mo	$212,500	$189	62
1727 E Elza Ave	0.63mi	3/2.0	1,123 (+2%)	1mo	$185,000	$165	62
19181 Marx St	0.70mi	3/1.0	1,152 (+5%)	1mo	$40,500	$35	59
19163 Orleans St	0.69mi	2/1.0 (-1)	1,080 (-2%)	2mo	$32,500	$30	58
19145 Riopelle St	0.70mi	3/2.0	1,152 (+5%)	2mo	$80,000	$69	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 2.48×
• Total profit: $28,253
• Equity at exit: $10,139

10-year hold

• IRR: 41.8%
• Equity multiple: 4.95×
• Total profit: $75,260
• Equity at exit: $5,879

Cash invested: $19,040 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$357
• Tax from tax record: −$103 /mo · $1,233/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $616

Break-even live

Break-even rent $617

Max offer price $68,000

Occupancy floor 51%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	0.36mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	2d	1	0.50mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	0.58mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	44d	1	0.59mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.62mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	0.63mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	1d	1	0.70mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	0.71mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	0.74mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	0.80mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	17d	1	0.81mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	44d	1	0.85mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	0.87mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	24d	1	0.90mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	1.03mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	15d	1	1.04mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.04mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	1.05mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	20d	1	1.07mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	24d	1	1.13mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	1.16mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	1.17mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.20mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	5d	1	1.22mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.25mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	1.26mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.30mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.31mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.32mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	24d	1	1.39mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.42mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	1.45mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	22d	1	1.46mi

Listing history 29 events

1. 2026-06-18
   days on market $68,000 Active 198 DOM
2. 2026-06-17
   days on market $68,000 Active 197 DOM
3. 2026-06-15
   days on market $68,000 Active 195 DOM
4. 2026-06-13
   days on market $68,000 Active 193 DOM
5. 2026-06-13
   days on market $68,000 Active 192 DOM
6. 2026-06-09
   days on market $68,000 Active 189 DOM
7. 2026-06-08
   days on market $68,000 Active 188 DOM
8. 2026-06-07
   days on market $68,000 Active 187 DOM
9. 2026-06-04
   days on market $68,000 Active 184 DOM
10. 2026-06-03
    days on market $68,000 Active 183 DOM
11. 2026-06-01
    days on market $68,000 Active 181 DOM
12. 2026-05-31
    days on market $68,000 Active 180 DOM
13. 2025-12-02
    listed $68,000 Active 338-char remark

    Show marketing remark (338 chars)

    Great rental opportunity. Tenant occupied, Section 8, with a lease to be honored. This is a long-term tenant. The owner is allowing you to gain the guaranteed treasures of cash flow. Please don't disturb the tenant; showings are allowed once an offer is accepted. The buyer's personal inspection will be honored once an offer is accepted.

14. 2025-12-02
    listed $68,000 Active 338-char remark

    Show marketing remark (338 chars)

    Great rental opportunity. Tenant occupied, Section 8, with a lease to be honored. This is a long-term tenant. The owner is allowing you to gain the guaranteed treasures of cash flow. Please don't disturb the tenant; showings are allowed once an offer is accepted. The buyer's personal inspection will be honored once an offer is accepted.

15. 2022-04-27
    soldstatus $91,000
16. 2022-04-05
    soldstatus $129,000
17. 2008-05-15
    soldstatus $5,500
18. 2008-05-15
    soldstatus $5,500
19. 2008-02-28
    historical
20. 2008-01-10
    listed $12,000
21. 2008-01-10
    listed $12,000
22. 2007-12-06
    historical
23. 2007-05-21
    listed $49,888
24. 2007-05-21
    historical
25. 2007-01-03
    listed $86,600
26. 2007-01-01
    historical
27. 2006-12-10
    listed $86,600
28. 2004-05-12
    historical
29. 2004-02-12
    listed $75,000

ⓘ 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: $1,233 · $103/mo
• Projected year-2 tax: $1,233 · $103/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 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: $16,766
• − Mortgage interest: −$3,809
• − Property taxes: −$1,233
• − Insurance: −$340
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$1,978
• Taxable income: $6,723
• Est. tax owed @ 24.0%: −$1,614
• After-tax cash flow: $5,780/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

-9.3% since first listed

17 events — show timeline

• 2025-12-02 Listed $68,000 REALCOMP
• 2025-12-02 Listed $68,000 MiRealSource-MiMLS
• 2022-04-27 Sold (Public Records) $91,000 Public Records
• 2022-04-05 Sold (Public Records) $129,000 Public Records
• 2008-05-15 Sold (MLS) $5,500 REALCOMP
• 2008-05-15 Sold (MLS) $5,500 MiRealSource-MiMLS
• 2008-02-28 Listing Removed — MiRealSource-MiMLS
• 2008-01-10 Listed $12,000 REALCOMP
• 2008-01-10 Listed $12,000 MiRealSource-MiMLS
• 2007-12-06 Listing Removed — REALCOMP
• 2007-05-21 Listing Removed — REALCOMP
• 2007-05-21 Listed $49,888 REALCOMP
• 2007-01-03 Listed $86,600 REALCOMP
• 2007-01-01 Listing Removed — REALCOMP
• 2006-12-10 Listed $86,600 REALCOMP
• 2004-05-12 Listing Removed — REALCOMP
• 2004-02-12 Listed $75,000 REALCOMP

Property tax history

-2.4%/yr

Latest (2025): $1,233 · -8.9% YoY. Source: county tax records.