19331 Hoover St · Detroit, MI 48205

$44,000

2 bd · 1.0 ba · 892 sqft · Townhouse public records · 336 Days on market

Built 1948 3,049 sqft lot $49/sqft · at area comps Est $42k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.9/15.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FULLY UPDATED TOWNHOUSE! Completely renovated and waiting for you! This home is perfect for a first time homebuyer or someone looking to downsize. All that’s needed is a handy buyer to make a few exterior finishing touches! * * Photos are pre tenant

Key facts

• Completely renovated
• 3,049 sq ft lot
• Built 1948

Tags

• FULLY UPDATED TOWNHOUSE
• COMPLETELY RENOVATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $44k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $39k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.4% 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: Rents rising (+1.3%/yr); 373 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($39k/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 $304 of loan paydown is wiped out by about $1k 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 + 1.3% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 $550; list at $44k implies a 7900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 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 1948 — 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: 2.76% ✓
• Cap rate: 23.43%
• Cash-on-cash: 61.22%
• DSCR: 3.72
• GRM: 3.0

CMA / ARV

• ARV (median comp): $42,492
• List price: $44,000
• Delta: 3.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 58.1%
• Equity multiple: 3.51×
• Total profit: $30,929
• Equity at exit: $6,561

10-year hold

• IRR: 62.3%
• Equity multiple: 6.74×
• Total profit: $70,662
• Equity at exit: $3,804

Cash invested: $12,320 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,212 high
• Mortgage (P&I): −$231
• Tax from tax record: −$80 /mo · $963/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $628

Break-even live

Break-even rent $417

Max offer price $44,000

Occupancy floor 43%

Sensitivity live

Price	-10% $653	-5% $641	+0% $628	+5% $616	+10% $604
Rent	-10% $533	-5% $581	+0% $628	+5% $676	+10% $724
Rate	-1.0pp $651	-0.5pp $640	base $628	+0.5pp $617	+1.0pp $605

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: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	0.01mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.01mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	18d	1	0.47mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	0.55mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.59mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.66mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	0.70mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	18d	1	0.70mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	0.81mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.82mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	0.82mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.84mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.85mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	0.85mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	0.93mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	0.95mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	1.09mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.09mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	25d	1	1.09mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	1.10mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	1.12mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	1.14mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.16mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.18mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	25d	1	1.18mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	18d	1	1.21mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.22mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	44d	1	1.23mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,050	$1.24	5d	1	1.25mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	1.28mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	1.34mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	1.40mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	25d	1	1.41mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	25d	1	1.43mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	1.45mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	25d	1	1.45mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	25d	1	1.49mi

Listing history 34 events

1. 2026-06-18
   days on market $44,000 Active 336 DOM
2. 2026-06-17
   days on market $44,000 Active 335 DOM
3. 2026-06-15
   days on market $44,000 Active 333 DOM
4. 2026-06-13
   days on market $44,000 Active 331 DOM
5. 2026-06-13
   days on market $44,000 Active 330 DOM
6. 2026-06-09
   days on market $44,000 Active 327 DOM
7. 2026-06-08
   days on market $44,000 Active 326 DOM
8. 2026-06-07
   days on market $44,000 Active 325 DOM
9. 2026-06-04
   days on market $44,000 Active 322 DOM
10. 2026-06-03
    days on market $44,000 Active 321 DOM
11. 2026-06-01
    days on market $44,000 Active 319 DOM
12. 2026-05-31
    days on market $44,000 Active 318 DOM
13. 2026-04-25
    price $44,000 257-char remark

    Show marketing remark (257 chars)

    FULLY UPDATED TOWNHOUSE! Completely renovated and waiting for you! This home is perfect for a first time homebuyer or someone looking to downsize. All that’s needed is a handy buyer to make a few exterior finishing touches! * * Photos are pre tenant

14. 2026-03-10
    price $44,700 257-char remark

    Show marketing remark (257 chars)

    FULLY UPDATED TOWNHOUSE! Completely renovated and waiting for you! This home is perfect for a first time homebuyer or someone looking to downsize. All that’s needed is a handy buyer to make a few exterior finishing touches! * * Photos are pre tenant

15. 2026-02-15
    price $44,800 257-char remark

    Show marketing remark (257 chars)

    FULLY UPDATED TOWNHOUSE! Completely renovated and waiting for you! This home is perfect for a first time homebuyer or someone looking to downsize. All that’s needed is a handy buyer to make a few exterior finishing touches! * * Photos are pre tenant

16. 2026-02-05
    price $44,900 257-char remark

    Show marketing remark (257 chars)

    FULLY UPDATED TOWNHOUSE! Completely renovated and waiting for you! This home is perfect for a first time homebuyer or someone looking to downsize. All that’s needed is a handy buyer to make a few exterior finishing touches! * * Photos are pre tenant

17. 2025-07-18
    listed $45,000 Active 257-char remark

    Show marketing remark (257 chars)

    FULLY UPDATED TOWNHOUSE! Completely renovated and waiting for you! This home is perfect for a first time homebuyer or someone looking to downsize. All that’s needed is a handy buyer to make a few exterior finishing touches! * * Photos are pre tenant

18. 2024-09-20
    historical
19. 2024-09-20
    historical
20. 2024-06-19
    price $54,999
21. 2024-06-19
    price $54,999
22. 2024-05-18
    listed $60,000 Active
23. 2024-05-18
    listed $60,000 Active
24. 2024-05-07
    historical
25. 2024-05-07
    historical
26. 2023-05-02
    listed $35,000 Active
27. 2023-05-02
    listed $35,000 Active
28. 2015-11-03
    soldstatus $550
29. 2015-11-02
    historical
30. 2015-10-19
    listed $550
31. 2013-04-22
    soldstatus $37,000
32. 2013-02-11
    historical
33. 2012-12-17
    listed $10,900
34. 1998-01-09
    soldstatus $14,500

ⓘ 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: $963 · $80/mo
• Projected year-2 tax: $963 · $80/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 ≥96°F today · 14 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: $14,549
• − Mortgage interest: −$2,465
• − Property taxes: −$963
• − Insurance: −$220
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$1,280
• Taxable income: $7,294
• Est. tax owed @ 24.0%: −$1,750
• After-tax cash flow: $5,791/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+203.4% since first listed

22 events — show timeline

• 2026-04-25 Price Changed $44,000 REALCOMP
• 2026-03-10 Price Changed $44,700 REALCOMP
• 2026-02-15 Price Changed $44,800 REALCOMP
• 2026-02-05 Price Changed $44,900 REALCOMP
• 2025-07-18 Listed $45,000 REALCOMP
• 2024-09-20 Listing Removed — MiRealSource-MiMLS
• 2024-09-20 Listing Removed — REALCOMP
• 2024-06-19 Price Changed $54,999 MiRealSource-MiMLS
• 2024-06-19 Price Changed $54,999 REALCOMP
• 2024-05-18 Listed $60,000 MiRealSource-MiMLS
• 2024-05-18 Listed $60,000 REALCOMP
• 2024-05-07 Listing Removed — MiRealSource-MiMLS
• 2024-05-07 Listing Removed — REALCOMP
• 2023-05-02 Listed $35,000 MiRealSource-MiMLS
• 2023-05-02 Listed $35,000 REALCOMP
• 2015-11-03 Sold (MLS) $550 MiRealSource-MiMLS
• 2015-11-02 Listing Removed — MiRealSource-MiMLS
• 2015-10-19 Listed $550 MiRealSource-MiMLS
• 2013-04-22 Sold (Public Records) $37,000 Public Records
• 2013-02-11 Listing Removed — MiRealSource-MiMLS
• 2012-12-17 Listed $10,900 MiRealSource-MiMLS
• 1998-01-09 Sold (Public Records) $14,500 Public Records

Property tax history

-2.7%/yr

Latest (2025): $963 · -46.3% YoY. Source: county tax records.