20315 Goulburn St · Detroit, MI 48205

$49,999

3 bd · 1.0 ba · 2,470 sqft · SingleFamily public records · 41 Days on market

Built 1948 4,792 sqft lot $20/sqft · 66% below area Est $50k · at est. ↓ 32% since listing

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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 +7.4/15.0
• 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

Investor's Special! Charming single-family home situated on a desirable corner lot in Detroit featuring 3 bedrooms and 1 bathroom. The upper-level bungalow-style bedroom offers additional space and flexibility, unfinished basement brings extra storage space. Enjoy a fenced backyard, perfect for pet, outdoor activities, or future landscaping ideas. This property does need some TLC and maintenance, making it a great opportunity for investors, flippers, or buyers looking to add their personal touch. Conveniently located in a great area with easy access to local amenities, schools and major roads. Don't miss this opportunity-schedule your showing today!

Key facts

• Unfinished basement
• Fenced backyard
• Corner lot

Tags

• CORNER LOT
• BUNGALOW-STYLE BEDROOM
• FENCED BACKYARD
• UNFINISHED BASEMENT
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps; Brick exterior
• Construction: Asphalt roof; Block foundation
• Exterior features: Front yard fencing; Paved road access

Interior

• Bedrooms: 6 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Unfurnished; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $625 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.3% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 38% 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 $345 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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.

Risks & watch-outs

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

Recommended offer $48,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1948 — 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: 2.46% ✓
• Cap rate: 21.30%
• Cash-on-cash: 53.60%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

• ARV (median comp): $49,917
• List price: $49,999
• Delta: 0.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19917 Alcoy St	0.42mi	3/1.0	2,700 (+9%)	5mo	$50,000	$19	61
20500 Fairport St	0.16mi	2/1.0 (-1)	2,235 (-10%)	22mo	$30,000	$13	53
19325 Goulburn St	0.71mi	3/1.5	2,123 (-14%)	13mo	$60,000	$28	31
13514 Couwlier Ave	0.69mi	3/1.5	2,104 (-15%)	16mo	$174,700	$83	27
13833 E State Fair Ave	0.71mi	3/3.0	2,136 (-14%)	20mo	$80,000	$37	20

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 49.8%
• Equity multiple: 3.12×
• Total profit: $29,709
• Equity at exit: $7,455

10-year hold

• IRR: 54.6%
• Equity multiple: 5.94×
• Total profit: $69,166
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $625

Break-even live

Break-even rent $437

Max offer price $49,999

Occupancy floor 44%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	43d	1	1.17mi
18961 Teppert St Detroit, MI	3.0	1.5	2015	$1,250	$0.62	12d	1	1.20mi
18457 Hoover St Unit 57 Detroit, MI	2.0	1.0	1950	$850	$0.44	15d	1	1.30mi

Listing history 26 events

1. 2026-06-19
   status $49,999 Pending 41 DOM
2. 2026-06-18
   days on market $49,999 Active 41 DOM
3. 2026-06-17
   days on market $49,999 Active 40 DOM
4. 2026-06-15
   days on market $49,999 Active 38 DOM
5. 2026-06-13
   days on market $49,999 Active 36 DOM
6. 2026-06-13
   days on market $49,999 Active 35 DOM
7. 2026-06-09
   days on market $49,999 Active 32 DOM
8. 2026-06-08
   days on market $49,999 Active 31 DOM
9. 2026-06-07
   days on market $49,999 Active 30 DOM
10. 2026-06-04
    days on market $49,999 Active 27 DOM
11. 2026-06-03
    days on market $49,999 Active 26 DOM
12. 2026-06-02
    days on market $49,999 Active 25 DOM
13. 2026-06-01
    days on market $49,999 Active 24 DOM
14. 2026-05-31
    days on market $49,999 Active 23 DOM
15. 2026-05-08
    listed $49,999 Active 658-char remark

    Show marketing remark (657 chars)

    Investor's Special! Charming single-family home situated on a desirable corner lot in Detroit featuring 3 bedrooms and 1 bathroom. The upper-level bungalow-style bedroom offers additional space and flexibility, unfinished basement brings extra storage space. Enjoy a fenced backyard, perfect for pet, outdoor activities, or future landscaping ideas. This property does need some TLC and maintenance, making it a great opportunity for investors, flippers, or buyers looking to add their personal touch. Conveniently located in a great area with easy access to local amenities, schools and major roads. Don't miss this opportunity-schedule your showing today!

16. 2026-05-08
    listed $49,999 Active 657-char remark

    Show marketing remark (657 chars)

    Investor's Special! Charming single-family home situated on a desirable corner lot in Detroit featuring 3 bedrooms and 1 bathroom. The upper-level bungalow-style bedroom offers additional space and flexibility, unfinished basement brings extra storage space. Enjoy a fenced backyard, perfect for pet, outdoor activities, or future landscaping ideas. This property does need some TLC and maintenance, making it a great opportunity for investors, flippers, or buyers looking to add their personal touch. Conveniently located in a great area with easy access to local amenities, schools and major roads. Don't miss this opportunity-schedule your showing today!

17. 2007-08-03
    soldstatus $112,000
18. 2006-10-24
    soldstatus $52,750
19. 2006-08-29
    soldstatus $52,750

    Show marketing remark (344 chars)

    HUD CASE#261-769995 FHA INSURED FINANCING AVAIL W/ REPAIR ESCROW $440. HOME SOLD AS IS. HUD MAKES NO REPAIRS. ELECTRONIC BIDDING VIA PHONE/INTERNET ONLY! COMM. UP TO 5%. MCB & FUTURE MAKES NO WARRANTY AS TO EXISTENCE OF MOLD IN PROP. & IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS THEREOF. APPTS. MUST BE MADE W/ LISTING OFFICE.

20. 2006-03-24
    listed $54,000

    Show marketing remark (344 chars)

    HUD CASE#261-769995 FHA INSURED FINANCING AVAIL W/ REPAIR ESCROW $440. HOME SOLD AS IS. HUD MAKES NO REPAIRS. ELECTRONIC BIDDING VIA PHONE/INTERNET ONLY! COMM. UP TO 5%. MCB & FUTURE MAKES NO WARRANTY AS TO EXISTENCE OF MOLD IN PROP. & IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS THEREOF. APPTS. MUST BE MADE W/ LISTING OFFICE.

21. 2001-06-27
    soldstatus $76,000
22. 2001-03-14
    soldstatus $76,000
23. 2001-03-14
    soldstatus $76,000
24. 2001-02-05
    historical
25. 2001-01-23
    listed $73,800
26. 2001-01-23
    listed $73,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,746
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$1,455
• Taxable income: $7,132
• Est. tax owed @ 24.0%: −$1,712
• After-tax cash flow: $5,792/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

-32.3% since first listed

12 events — show timeline

• 2026-05-08 Listed $49,999 MiRealSource-MiMLS
• 2026-05-08 Listed $49,999 REALCOMP
• 2007-08-03 Sold (Public Records) $112,000 Public Records
• 2006-10-24 Sold (Public Records) $52,750 Public Records
• 2006-08-29 Sold (MLS) $52,750 REALCOMP
• 2006-03-24 Listed $54,000 REALCOMP
• 2001-06-27 Sold (Public Records) $76,000 Public Records
• 2001-03-14 Sold (MLS) $76,000 MiRealSource-MiMLS
• 2001-03-14 Sold (MLS) $76,000 REALCOMP
• 2001-02-05 Listing Removed — MiRealSource-MiMLS
• 2001-01-23 Listed $73,800 MiRealSource-MiMLS
• 2001-01-23 Listed $73,800 REALCOMP

Property tax history

+30.4%/yr

Latest (2025): $6,255 · +0.4% YoY. Source: county tax records.