20244 Mccormick St · Detroit, MI 48224

$95,000

3 bd · 1.0 ba · 952 sqft · SingleFamily public records · 50 Days on market

Built 1942 4,792 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this newly renovated home! This property was updated in 2023. It features 3 spacious bedrooms, 1 full bath on the main level, newly renovated kitchen and bathroom, and freshly painted throughout! Perfect for a first time investor looking for something turnkey!

Key facts

• 4,792 sq ft lot
• Built 1942
• Listed 50 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 37% of the median local income ($45k/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 $657 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 + 0.7% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 31y ago; this cycle's ask is 8322% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $38k; list at $95k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $62,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20300 Mccormick St	0.06mi	3/1.0	940 (-1%)	1mo	$60,000	$64	95
20244 Mccormick St	0.00mi	3/1.0	1,000 (+5%)	1mo	$75,000	$75	91
10945 Peerless St	0.21mi	3/1.0	964 (+1%)	2mo	$54,000	$56	87
11017 Worden St	0.26mi	3/1.0	961 (+1%)	0mo	$47,500	$49	86
11640 Somerset Ave	0.29mi	3/2.0	1,028 (+8%)	0mo	$70,000	$68	69
11035 Worden St	0.25mi	3/1.0	834 (-12%)	3mo	$55,000	$66	66
11566 Somerset Ave	0.32mi	3/2.0	1,039 (+9%)	3mo	$123,000	$118	63
19100 Kingsville St	0.70mi	3/1.0	972 (+2%)	2mo	$110,000	$113	62
11545 Roxbury St	0.65mi	3/1.0	1,003 (+5%)	1mo	$65,000	$65	60
19381 Kenosha St	0.54mi	2/1.0 (-1)	892 (-6%)	2mo	$104,000	$117	58
6156 Lodewyck St	0.75mi	3/1.0	900 (-6%)	1mo	$51,000	$57	56
10830 Mckinney St	0.58mi	3/1.0	1,066 (+12%)	1mo	$40,199	$38	52

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.30×
• Total profit: $7,970
• Equity at exit: $14,165

10-year hold

• IRR: 15.1%
• Equity multiple: 2.09×
• Total profit: $29,068
• Equity at exit: $8,214

Cash invested: $26,600 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$498
• Tax from tax record: −$126 /mo · $1,514/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $414

Break-even live

Break-even rent $840

Max offer price $95,000

Occupancy floor 65%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	0.14mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	0.16mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.20mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	0.36mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	0.36mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.37mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	0.44mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	0.51mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.52mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.56mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	43d	1	0.61mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	43d	1	0.61mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.63mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.63mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.67mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.67mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.67mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	0.68mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	12d	1	0.69mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	2d	1	0.70mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.71mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	24d	1	0.72mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.72mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.74mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.77mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.77mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	43d	1	0.77mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	0.81mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.87mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.87mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.93mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	17d	1	0.95mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.97mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	16d	1	1.00mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	43d	1	1.01mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	1.03mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	1.07mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	1.13mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	18d	1	1.21mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	2d	1	1.21mi

Listing history 50 events

1. 2026-04-25
   historical $1,128
2. 2026-04-19
   listed $1,128
3. 2026-04-16
   status Pending 271-char remark

   Show marketing remark (271 chars)

   Welcome to this newly renovated home! This property was updated in 2023. It features 3 spacious bedrooms, 1 full bath on the main level, newly renovated kitchen and bathroom, and freshly painted throughout! Perfect for a first time investor looking for something turnkey!

4. 2026-04-16
   status Pending

   Show marketing remark (271 chars)

   Welcome to this newly renovated home! This property was updated in 2023. It features 3 spacious bedrooms, 1 full bath on the main level, newly renovated kitchen and bathroom, and freshly painted throughout! Perfect for a first time investor looking for something turnkey!

5. 2026-02-25
   listed $95,000 Active

   Show marketing remark (271 chars)

   Welcome to this newly renovated home! This property was updated in 2023. It features 3 spacious bedrooms, 1 full bath on the main level, newly renovated kitchen and bathroom, and freshly painted throughout! Perfect for a first time investor looking for something turnkey!

6. 2026-02-25
   listed $95,000 Active 271-char remark

   Show marketing remark (271 chars)

   Welcome to this newly renovated home! This property was updated in 2023. It features 3 spacious bedrooms, 1 full bath on the main level, newly renovated kitchen and bathroom, and freshly painted throughout! Perfect for a first time investor looking for something turnkey!

7. 2026-02-01
   historical
8. 2026-02-01
   historical
9. 2025-12-17
   price $95,000
10. 2025-12-16
    price $95,000
11. 2025-10-29
    listed $100,000 Active
12. 2025-10-29
    listed $100,000 Active
13. 2025-09-01
    historical
14. 2025-09-01
    historical
15. 2025-08-07
    price $99,900
16. 2025-08-06
    price $99,900
17. 2025-05-21
    listed $105,000 Active
18. 2025-05-21
    listed $105,000 Active
19. 2025-05-10
    historical
20. 2025-05-10
    historical
21. 2025-04-17
    status Active
22. 2025-04-17
    historical
23. 2025-01-03
    listed $110,000 Active
24. 2025-01-03
    listed $110,000 Active
25. 2024-12-30
    historical
26. 2020-07-08
    soldstatus $38,000 Sold
27. 2020-07-08
    soldstatus $38,000 Closed
28. 2020-06-22
    status Pending
29. 2020-06-22
    status Pending
30. 2020-03-18
    status Active
31. 2020-03-18
    status Active
32. 2020-03-13
    historical Accepting Backup Offers
33. 2020-03-10
    historical
34. 2020-03-09
    historical Accepting Backup Offers
35. 2020-02-25
    listed $50,000 Active
36. 2020-02-25
    listed $50,000 Active
37. 2012-03-01
    historical
38. 2012-03-01
    historical
39. 2011-03-01
    listed $7,900
40. 2011-03-01
    listed $7,900
41. 2000-08-29
    soldstatus $63,000
42. 2000-03-15
    soldstatus $63,000
43. 2000-03-15
    soldstatus $63,000
44. 2000-02-14
    historical
45. 1999-12-10
    listed $69,900
46. 1999-12-10
    listed $69,900
47. 1996-04-15
    soldstatus $43,900
48. 1996-03-28
    historical
49. 1996-03-27
    soldstatus $43,900
50. 1995-10-31
    listed $45,900

ⓘ 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: $1,514 · $126/mo
• Projected year-2 tax: $1,514 · $126/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,379
• − Mortgage interest: −$5,321
• − Property taxes: −$1,514
• − Insurance: −$475
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$2,764
• Taxable income: $3,684
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,088/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-97.5% since first listed

50 events — show timeline

• 2026-04-25 Rental Removed $1,128 RENTLY
• 2026-04-19 Listed for Rent $1,128 RENTLY
• 2026-04-16 Pending — MiRealSource-MiMLS
• 2026-04-16 Pending — REALCOMP
• 2026-02-25 Listed $95,000 REALCOMP
• 2026-02-25 Listed $95,000 MiRealSource-MiMLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2025-12-17 Price Changed $95,000 MiRealSource-MiMLS
• 2025-12-16 Price Changed $95,000 REALCOMP
• 2025-10-29 Listed $100,000 MiRealSource-MiMLS
• 2025-10-29 Listed $100,000 REALCOMP
• 2025-09-01 Listing Removed — MiRealSource-MiMLS
• 2025-09-01 Listing Removed — REALCOMP
• 2025-08-07 Price Changed $99,900 MiRealSource-MiMLS
• 2025-08-06 Price Changed $99,900 REALCOMP
• 2025-05-21 Listed $105,000 MiRealSource-MiMLS
• 2025-05-21 Listed $105,000 REALCOMP
• 2025-05-10 Listing Removed — REALCOMP
• 2025-05-10 Listing Removed — MiRealSource-MiMLS
• 2025-04-17 Relisted — REALCOMP
• 2025-04-17 Listing Removed — REALCOMP
• 2025-01-03 Listed $110,000 MiRealSource-MiMLS
• 2025-01-03 Listed $110,000 REALCOMP
• 2024-12-30 Coming Soon — MiRealSource-MiMLS
• 2020-07-08 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2020-07-08 Sold (MLS) $38,000 REALCOMP
• 2020-06-22 Pending — MiRealSource-MiMLS
• 2020-06-22 Pending — REALCOMP
• 2020-03-18 Relisted — MiRealSource-MiMLS
• 2020-03-18 Relisted — REALCOMP
• 2020-03-13 Contingent — MiRealSource-MiMLS
• 2020-03-10 Listing Removed — MiRealSource-MiMLS
• 2020-03-09 Contingent — REALCOMP
• 2020-02-25 Listed $50,000 MiRealSource-MiMLS
• 2020-02-25 Listed $50,000 REALCOMP
• 2012-03-01 Listing Removed — REALCOMP
• 2012-03-01 Listing Removed — MiRealSource-MiMLS
• 2011-03-01 Listed $7,900 REALCOMP
• 2011-03-01 Listed $7,900 MiRealSource-MiMLS
• 2000-08-29 Sold (Public Records) $63,000 Public Records
• 2000-03-15 Sold (MLS) $63,000 REALCOMP
• 2000-03-15 Sold (MLS) $63,000 MiRealSource-MiMLS
• 2000-02-14 Listing Removed — MiRealSource-MiMLS
• 1999-12-10 Listed $69,900 REALCOMP
• 1999-12-10 Listed $69,900 MiRealSource-MiMLS
• 1996-04-15 Sold (Public Records) $43,900 Public Records
• 1996-03-28 Listing Removed — MiRealSource-MiMLS
• 1996-03-27 Sold (MLS) $43,900 MiRealSource-MiMLS
• 1995-10-31 Listed $45,900 MiRealSource-MiMLS

Property tax history

-2.8%/yr

Latest (2025): $1,514 · -54.1% YoY. Source: county tax records.