20253 Veach St · Detroit, MI 48234

$93,999

2 bd · 1.0 ba · 1,171 sqft · SingleFamily public records · 149 Days on market

Built 1945 7,841 sqft lot $80/sqft · 24% above area Est $76k · 24% over

---

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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• 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

This single-story property is an excellent value-add investment, ideal for investors seeking rental income or portfolio expansion--while also remaining a solid option for homebuyers. This home features hardwood flooring throughout the main living areas and bedrooms and two fire places.

Key facts

• Hardwood flooring
• Two fire places
• 7,841 sq ft lot

Tags

• HARDWOOD FLOORING
• TWO FIRE PLACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $83k (12.0% 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 rising fast (+6.7%/yr); 226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 43% of the median local income ($35k/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 $650 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 + 6.7% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y 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 $6k; list at $94k implies a 1426% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,719 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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 1945 — 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: 1.35% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.72%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

• ARV (median comp): $75,770
• List price: $93,999
• Delta: 24.06%
• 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
19985 Packard St	0.42mi	3/2.0 (+1)	1,152 (-2%)	7mo	$90,000	$78	63
19466 Packard St	0.60mi	3/1.0 (+1)	1,179 (+1%)	6mo	$62,000	$53	61
20000 Concord St	0.62mi	3/1.0 (+1)	1,200 (+2%)	4mo	$140,000	$117	58
7551 Westminister Avenue Ave	0.55mi	3/1.0 (+1)	1,128 (-4%)	6mo	$78,000	$69	58
8286 Westminster Ave	0.45mi	3/2.5 (+1)	1,250 (+7%)	2mo	$250,000	$200	55
20043 Packard St	0.39mi	3/1.0 (+1)	1,040 (-11%)	6mo	$87,000	$84	53
8078 Rolyat St	0.45mi	3/1.0 (+1)	1,317 (+12%)	2mo	$40,000	$30	51
19487 Spencer St	0.57mi	3/1.0 (+1)	1,285 (+10%)	7mo	$53,000	$41	46
20136 Helen St	0.53mi	3/1.0 (+1)	1,000 (-15%)	1mo	$32,000	$32	45
19723 Carrie St	0.62mi	3/1.0 (+1)	1,020 (-13%)	2mo	$85,000	$83	43
8434 Orchard Ave	0.63mi	3/1.0 (+1)	1,012 (-14%)	1mo	$125,000	$124	42
11357 Fisher Ave	0.71mi	3/1.5 (+1)	1,031 (-12%)	4mo	$128,000	$124	36

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: 12.0%
• Equity multiple: 1.50×
• Total profit: $13,070
• Equity at exit: $14,016

10-year hold

• IRR: 23.7%
• Equity multiple: 3.41×
• Total profit: $63,374
• Equity at exit: $8,127

Cash invested: $26,320 (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: 226
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,272 high
• Mortgage (P&I): −$493
• Tax from tax record: −$106 /mo · $1,269/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $367

Break-even live

Break-even rent $807

Max offer price $93,999

Occupancy floor 66%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	24d	1	0.25mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	43d	1	0.27mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	4d	1	0.54mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	24d	1	0.59mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	43d	1	0.61mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	12d	1	0.64mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	11d	1	0.67mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	43d	1	0.74mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	21d	1	0.76mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	24d	1	0.76mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	24d	1	0.76mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	2d	1	0.81mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	24d	1	0.82mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.84mi
8251 Hudson Ave Warren, MI	3.0	1.0	908	$1,400	$1.54	24d	1	0.84mi
7568 Hudson Ave Unit 2 Warren, MI	2.0	1.0	1415	$900	$0.64	4d	1	0.86mi
7568 Hudson Ave Unit 1 Warren, MI	3.0	1.0	1415	$1,100	$0.78	4d	1	0.86mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	2d	1	0.93mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	24d	1	0.94mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	17d	1	1.00mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.05mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	24d	1	1.22mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	1.23mi
11099 Dodge Ave Warren, MI	2.0	1.0	1190	$1,150	$0.97	20d	1	1.24mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	3d	1	1.24mi
8509 Paige Ave Warren, MI	3.0	1.0	950	$1,300	$1.37	24d	1	1.27mi
8693 Paige Ave Warren, MI	3.0	1.0	900	$1,300	$1.44	24d	1	1.29mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	1.29mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.32mi
8707 Continental Ave Warren, MI	3.0	1.0	968	$1,200	$1.24	17d	1	1.35mi
8707 Continental Ave Warren, MI	3.0	1.0	1100	$1,200	$1.09	4d	1	1.35mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1152	$1,595	$1.38	1d	1	1.35mi
21456 Syracuse Ave Warren, MI	3.0	1.0	1160	$1,595	$1.38	43d	1	1.35mi
8636 Republic Ave Warren, MI	2.0	1.0	800	$1,250	$1.56	14d	1	1.36mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	1.38mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	43d	1	1.38mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	24d	1	1.44mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	24d	1	1.44mi
8212 Timken Ave Warren, MI	2.0	1.0	756	$1,320	$1.75	24d	1	1.44mi
8428 Timken Ave Warren, MI	3.0	1.0	860	$1,250	$1.45	24d	1	1.45mi

Listing history 26 events

1. 2026-06-15
   days on market $93,999 Active 149 DOM
2. 2026-06-13
   days on market $93,999 Active 147 DOM
3. 2026-06-13
   days on market $93,999 Active 146 DOM
4. 2026-06-09
   days on market $93,999 Active 143 DOM
5. 2026-06-08
   days on market $93,999 Active 142 DOM
6. 2026-06-07
   days on market $93,999 Active 141 DOM
7. 2026-06-04
   days on market $93,999 Active 138 DOM
8. 2026-06-03
   days on market $93,999 Active 137 DOM
9. 2026-06-01
   days on market $93,999 Active 135 DOM
10. 2026-05-31
    days on market $93,999 Active 134 DOM
11. 2026-04-16
    price $93,999 286-char remark

    Show marketing remark (286 chars)

    This single-story property is an excellent value-add investment, ideal for investors seeking rental income or portfolio expansion--while also remaining a solid option for homebuyers. This home features hardwood flooring throughout the main living areas and bedrooms and two fire places.

12. 2026-04-16
    price $93,999 286-char remark

    Show marketing remark (286 chars)

    This single-story property is an excellent value-add investment, ideal for investors seeking rental income or portfolio expansion--while also remaining a solid option for homebuyers. This home features hardwood flooring throughout the main living areas and bedrooms and two fire places.

13. 2026-01-14
    listed $94,999 Active 286-char remark

    Show marketing remark (286 chars)

    This single-story property is an excellent value-add investment, ideal for investors seeking rental income or portfolio expansion--while also remaining a solid option for homebuyers. This home features hardwood flooring throughout the main living areas and bedrooms and two fire places.

14. 2026-01-14
    listed $94,999 Active 286-char remark

    Show marketing remark (286 chars)

    This single-story property is an excellent value-add investment, ideal for investors seeking rental income or portfolio expansion--while also remaining a solid option for homebuyers. This home features hardwood flooring throughout the main living areas and bedrooms and two fire places.

15. 2013-06-30
    historical
16. 2013-06-30
    historical
17. 2012-12-07
    listed $9,000
18. 2012-12-07
    listed $9,000
19. 2011-05-11
    soldstatus $6,160
20. 2011-05-11
    soldstatus $6,160
21. 2011-05-11
    soldstatus $6,160
22. 2011-04-07
    historical
23. 2011-02-26
    listed $6,160
24. 2011-02-26
    listed $6,160
25. 2011-02-26
    listed $6,160
26. 1999-03-15
    soldstatus $57,500

ⓘ 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: $1,269 · $106/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$89/yr (+$7/mo · 7.0%)

ⓘ 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 ≥97°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: $15,258
• − Mortgage interest: −$5,265
• − Property taxes: −$1,269
• − Insurance: −$470
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$2,735
• Taxable income: $3,078
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $3,661/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

+63.5% since first listed

16 events — show timeline

• 2026-04-16 Price Changed $93,999 MiRealSource-MiMLS
• 2026-04-16 Price Changed $93,999 REALCOMP
• 2026-01-14 Listed $94,999 REALCOMP
• 2026-01-14 Listed $94,999 MiRealSource-MiMLS
• 2013-06-30 Listing Removed — REALCOMP
• 2013-06-30 Listing Removed — MiRealSource-MiMLS
• 2012-12-07 Listed $9,000 REALCOMP
• 2012-12-07 Listed $9,000 MiRealSource-MiMLS
• 2011-05-11 Sold (MLS) $6,160 MiRealSource-MiMLS
• 2011-05-11 Sold (MLS) $6,160 MiRealSource-MiMLS
• 2011-05-11 Sold (MLS) $6,160 REALCOMP
• 2011-04-07 Listing Removed — MiRealSource-MiMLS
• 2011-02-26 Listed $6,160 MiRealSource-MiMLS
• 2011-02-26 Listed $6,160 MiRealSource-MiMLS
• 2011-02-26 Listed $6,160 REALCOMP
• 1999-03-15 Sold (Public Records) $57,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $1,269 · -54.0% YoY. Source: county tax records.