20004 Coventry St · Detroit, MI 48203

$16,900

3 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 134 Days on market

Built 1918 3,485 sqft lot $12/sqft · 78% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

OWNER NEEDS AN OFFER NOW!!! This is a complete rehab. Take a look at the size and low taxes. It could be a money maker. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

Key facts

• 3,485 sq ft lot
• Built 1918
• Listed 134 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $17k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $17k).
• Recommended offer: $15k (12.0% below list) — sets the bar for market timing.
• Cap rate 79.8% 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; 22 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).
• At $1,516/mo this rent would consume 47% of the median local household income ($38k/yr) (locally 1192% 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 $117 of loan paydown is wiped out by about $507 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $4k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,872 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 8.97% ✓
• Cap rate: 79.82%
• Cash-on-cash: 262.58%
• DSCR: 12.68
• GRM: 0.9

CMA / ARV

• ARV (median comp): $77,424
• List price: $16,900
• Delta: -78.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20070 Irvington St	0.18mi	3/1.5	1,515 (+10%)	1mo	$89,900	$59	72
19632 Coventry St	0.23mi	4/1.0 (+1)	1,300 (-5%)	8mo	$80,000	$62	68
800 E Bernhard Ave	0.71mi	3/1.0	1,390 (+1%)	2mo	$175,000	$126	63
305 W Hayes Ave	0.62mi	3/1.5	1,365 (-0%)	7mo	$230,000	$168	62
19396 Keating St	0.34mi	3/2.0	1,300 (-5%)	12mo	$115,578	$89	61
400 Annin St	0.45mi	3/1.0	1,187 (-14%)	5mo	$59,000	$50	52
417 E Bernhard Ave	0.69mi	3/2.5	1,342 (-2%)	11mo	$215,000	$160	49
404 W Muir Ave	0.59mi	2/1.0 (-1)	1,476 (+8%)	9mo	$135,000	$91	47
20410 Hull St	0.69mi	4/2.0 (+1)	1,326 (-3%)	8mo	$108,000	$81	46
350 E Muir Ave	0.46mi	4/2.0 (+1)	1,206 (-12%)	5mo	$135,000	$112	45
20473 Greeley St	0.74mi	3/1.0	1,179 (-14%)	0mo	$47,000	$40	42
20011 Hull St	0.62mi	3/2.5	1,500 (+9%)	12mo	$35,000	$23	39

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: —
• Equity multiple: 14.37×
• Total profit: $63,261
• Equity at exit: $2,520

10-year hold

• IRR: —
• Equity multiple: 30.63×
• Total profit: $140,212
• Equity at exit: $1,461

Cash invested: $4,732 (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: 0.9×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$89
• Tax from tax record: −$67 /mo · $799/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $1,035

Break-even live

Break-even rent $205

Max offer price $16,900

Occupancy floor 27%

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: $4,225
• Closing costs: $507
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.16mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	11d	1	0.55mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	0.59mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	1d	1	0.70mi
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	22d	1	0.71mi
1330 E Chesterfield St Ferndale, MI	4.0	2.0	1795	$2,800	$1.56	1d	1	0.74mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	0.80mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	0.88mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	0.88mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	43d	1	0.95mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	1d	1	0.98mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.09mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.13mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	1.14mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	1.19mi
394 Hilton Rd #101 Ferndale, MI	2.0	2.0	1506	$2,500	$1.66	3d	1	1.24mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	1.27mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	1.28mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.33mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	22d	1	1.34mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.39mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	5d	1	1.45mi

Listing history 38 events

1. 2026-06-18
   days on market $16,900 Active 134 DOM
2. 2026-06-17
   days on market $16,900 Active 133 DOM
3. 2026-06-15
   days on market $16,900 Active 131 DOM
4. 2026-06-13
   days on market $16,900 Active 129 DOM
5. 2026-06-13
   pricedays on market $16,900 Active 128 DOM
6. 2026-06-09
   days on market $18,500 Active 125 DOM
7. 2026-06-08
   days on market $18,500 Active 124 DOM
8. 2026-06-07
   days on market $18,500 Active 123 DOM
9. 2026-06-04
   days on market $18,500 Active 120 DOM
10. 2026-06-03
    days on market $18,500 Active 119 DOM
11. 2026-06-01
    days on market $18,500 Active 117 DOM
12. 2026-05-31
    days on market $18,500 Active 116 DOM
13. 2026-03-21
    price $18,500 260-char remark

    Show marketing remark (260 chars)

    OWNER NEEDS AN OFFER NOW!!! This is a complete rehab. Take a look at the size and low taxes. It could be a money maker. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

14. 2026-03-21
    price $18,500 260-char remark

    Show marketing remark (260 chars)

    OWNER NEEDS AN OFFER NOW!!! This is a complete rehab. Take a look at the size and low taxes. It could be a money maker. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

15. 2026-02-04
    listed $20,500 Active 260-char remark

    Show marketing remark (260 chars)

    OWNER NEEDS AN OFFER NOW!!! This is a complete rehab. Take a look at the size and low taxes. It could be a money maker. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

16. 2026-02-04
    listed $20,500 Active 260-char remark

    Show marketing remark (260 chars)

    OWNER NEEDS AN OFFER NOW!!! This is a complete rehab. Take a look at the size and low taxes. It could be a money maker. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

17. 2026-01-27
    historical
18. 2026-01-27
    historical
19. 2025-12-27
    price $20,500
20. 2025-12-26
    price $20,500
21. 2025-12-12
    price $21,900
22. 2025-12-11
    price $21,900
23. 2025-10-16
    price $22,900
24. 2025-10-16
    price $22,900
25. 2025-09-21
    price $23,900
26. 2025-09-21
    price $23,900
27. 2025-08-04
    listed $24,900 Active
28. 2025-08-01
    listed $24,900 Active
29. 2024-09-30
    historical
30. 2024-09-30
    historical
31. 2024-08-22
    price $27,900
32. 2024-08-22
    price $27,900
33. 2024-07-20
    price $28,900
34. 2024-07-20
    price $28,900
35. 2024-05-30
    listed $29,900 Active
36. 2024-05-30
    listed $29,900 Active
37. 2009-07-14
    historical
38. 2009-04-14
    listed $68,900

ⓘ 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: $799 · $67/mo
• Projected year-2 tax: $799 · $67/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) · 20% 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: $18,192
• − Mortgage interest: −$947
• − Property taxes: −$799
• − Insurance: −$84
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$492
• Taxable income: $12,960
• Est. tax owed @ 24.0%: −$3,110
• After-tax cash flow: $9,315/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

-73.1% since first listed

26 events — show timeline

• 2026-03-21 Price Changed $18,500 MiRealSource-MiMLS
• 2026-03-21 Price Changed $18,500 REALCOMP
• 2026-02-04 Listed $20,500 REALCOMP
• 2026-02-04 Listed $20,500 MiRealSource-MiMLS
• 2026-01-27 Listing Removed — MiRealSource-MiMLS
• 2026-01-27 Listing Removed — REALCOMP
• 2025-12-27 Price Changed $20,500 MiRealSource-MiMLS
• 2025-12-26 Price Changed $20,500 REALCOMP
• 2025-12-12 Price Changed $21,900 MiRealSource-MiMLS
• 2025-12-11 Price Changed $21,900 REALCOMP
• 2025-10-16 Price Changed $22,900 MiRealSource-MiMLS
• 2025-10-16 Price Changed $22,900 REALCOMP
• 2025-09-21 Price Changed $23,900 MiRealSource-MiMLS
• 2025-09-21 Price Changed $23,900 REALCOMP
• 2025-08-04 Listed $24,900 REALCOMP
• 2025-08-01 Listed $24,900 MiRealSource-MiMLS
• 2024-09-30 Listing Removed — MiRealSource-MiMLS
• 2024-09-30 Listing Removed — REALCOMP
• 2024-08-22 Price Changed $27,900 MiRealSource-MiMLS
• 2024-08-22 Price Changed $27,900 REALCOMP
• 2024-07-20 Price Changed $28,900 MiRealSource-MiMLS
• 2024-07-20 Price Changed $28,900 REALCOMP
• 2024-05-30 Listed $29,900 MiRealSource-MiMLS
• 2024-05-30 Listed $29,900 REALCOMP
• 2009-07-14 Listing Removed — REALCOMP
• 2009-04-14 Listed $68,900 REALCOMP

Property tax history

-3.0%/yr

Latest (2025): $799 · -53.4% YoY. Source: county tax records.