20821 N Pierson Ct · Detroit, MI 48228

$114,900

3 bd · 1.0 ba · 782 sqft · SingleFamily public records · 19 Days on market

Built 1950 0.28 ac lot

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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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful home has been well cared for by the owner that just made it all brand new inside & out. .. move in & relax! beautiful eat in kitchen with more than enough cabinet & counter top space! Complete with built in stove. 2 new custom bathrooms inc. private full bath in the upper primary suite (very convenient), walk in closet in primary bedroom for you wardrobe, beautiful new flooring, paint & 6 panel doors throughout. .. all new vinyl windows, steel doors, plumbing, electric panel & wires throughout. .. new roof, vinyl siding, New furnace to be installed before closing * Side driveway & extra cement around the house. * * Extra lot is for sale for $1,500 the total of the 2 lots together is . 28 acre

Key facts

• Custom bathrooms
• Eat in kitchen
• New flooring

Tags

• EAT IN KITCHEN
• BUILT IN STOVE
• CUSTOM BATHROOMS
• PRIVATE FULL BATH
• WALK IN CLOSET
• NEW FLOORING

Property features AI

Exterior

• Home design: Single-family residence; Residential property
• Construction: Built in 1950; Vinyl siding
• Exterior features: Lot approximately 0.28 acres; Public water

Interior

• Kitchen: Kitchen (approx. 10 x 16)
• Bedrooms: Primary bedroom (approx. 9 x 23); Bedroom 2 (approx. 10.8 x 11); Bedroom 3 (approx. 9.8 x 9.9)
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (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 soft (-2.3%/yr); 369 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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).
• At $1,188/mo this rent would consume 46% of the median local household income ($31k/yr) (locally 4144% 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 $794 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $2k; list at $115k implies a 5645% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,176 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 1.03% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $37,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11792 Burt Rd	0.02mi	2/1.0 (-1)	810 (+4%)	4mo	$27,000	$33	85
12219 Stout St	0.31mi	3/1.0	846 (+8%)	1mo	$25,000	$30	71
11720 Minock St	0.69mi	3/1.5	771 (-1%)	5mo	$95,000	$123	59
12642 Kentfield St	0.49mi	2/1.0 (-1)	742 (-5%)	10mo	$40,000	$54	56
11329 Minock St	0.74mi	3/1.0	816 (+4%)	4mo	$50,000	$61	55
9962 Evergreen Ave	0.68mi	3/1.0	762 (-3%)	16mo	$52,000	$68	50
20506 Capitol St	0.25mi	2/1.0 (-1)	889 (+14%)	17mo	$42,500	$48	46
12937 Trinity St	0.61mi	2/1.0 (-1)	729 (-7%)	14mo	$15,500	$21	44
13500 Heyden St	0.74mi	2/1.0 (-1)	850 (+9%)	4mo	$20,000	$24	43
12027 Auburn St	0.59mi	2/1.0 (-1)	728 (-7%)	20mo	$23,000	$32	39
11730 Westwood St	0.75mi	2/1.0 (-1)	742 (-5%)	17mo	$64,900	$87	38
11414 Plainview Ave	0.61mi	3/1.0	899 (+15%)	22mo	$29,500	$33	28

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-11,193
• Equity at exit: $17,132

10-year hold

• IRR: -5.0%
• Equity multiple: 0.72×
• Total profit: $-9,150
• Equity at exit: $9,934

Cash invested: $32,172 (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 48228

• Rents YoY: -2.3%
• Active inventory: 369
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,188 high
• Mortgage (P&I): −$603
• Tax from tax record: −$117 /mo · $1,399/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $171

Break-even live

Break-even rent $971

Max offer price $114,900

Occupancy floor 81%

Sensitivity live

Price	-10% $236	-5% $204	+0% $171	+5% $139	+10% $106
Rent	-10% $77	-5% $124	+0% $171	+5% $218	+10% $265
Rate	-1.0pp $229	-0.5pp $200	base $171	+0.5pp $141	+1.0pp $111

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	45d	1	0.30mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.44mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	45d	1	0.55mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	45d	6	0.70mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	45d	1	0.73mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.73mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.73mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.73mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.73mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.74mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.74mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.74mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	45d	1	0.75mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.76mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.76mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.76mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.76mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.77mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.77mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.77mi
12850 Dolphin St Detroit, MI	1.0–2.0	1.0	746	$999	$1.34	6d	4	0.80mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	45d	1	1.01mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	45d	1	1.03mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	45d	1	1.05mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	45d	1	1.12mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	25d	1	1.20mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	45d	1	1.22mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.23mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	1.27mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	18d	1	1.29mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	6d	1	1.33mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	18d	1	1.34mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	1.35mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.40mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.41mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	18d	1	1.42mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.43mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	0d	15	1.44mi
14280 Bramell St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	18d	1	1.45mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	45d	1	1.46mi

Listing history 13 events

1. 2026-06-21
   days on market $114,900 Active 19 DOM
2. 2026-06-18
   days on market $114,900 Active 16 DOM
3. 2026-06-17
   days on market $114,900 Active 15 DOM
4. 2026-06-16
   days on market $114,900 Active 14 DOM
5. 2026-06-15
   days on market $114,900 Active 13 DOM
6. 2026-06-13
   days on market $114,900 Active 11 DOM
7. 2026-06-13
   days on market $114,900 Active 10 DOM
8. 2026-06-09
   days on market $114,900 Active 7 DOM
9. 2026-06-08
   days on market $114,900 Active 6 DOM
10. 2026-06-07
    days on market $114,900 Active 5 DOM
11. 2026-06-04
    days on market $114,900 Active 2 DOM
12. 2026-06-03
    remarks 675-char remark
13. 2026-06-03
    listed $114,900 Active 1 DOM

ⓘ 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: $1,399 · $117/mo
• Projected year-2 tax: $1,584 · $132/mo
• Expected delta: +$185/yr (+$15/mo · 13.2%)

ⓘ 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 ≥99°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: $14,252
• − Mortgage interest: −$6,436
• − Property taxes: −$1,399
• − Insurance: −$574
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,343
• Taxable income: $219
• Est. tax owed @ 24.0%: −$53
• After-tax cash flow: $2,002/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+7560.0% since first listed

5 events — show timeline

• 2026-06-02 Listed $114,900 REALCOMP
• 2026-06-02 Listed $114,900 MiRealSource-MiMLS
• 2026-06-02 Listed $114,900 SW Michigan MLS
• 2010-02-01 Sold (MLS) $2,000 REALCOMP
• 2009-05-15 Listed $1,500 REALCOMP

Property tax history

+17.4%/yr

Latest (2025): $1,399 · +0.0% YoY. Source: county tax records.