20308 Gilchrist St · Detroit, MI 48235

$143,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 7 Days on market

Built 1948 5,227 sqft lot

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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 +15.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.8/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A home is waiting for you! Don't miss your opportunity to own this darling yet spacious bungalow designed especially with you and your family in mind. This quaint but cozy home has new windows, freshly painted throughout, beautiful light fixtures, new plush carpet in living room, hall and bedrooms, lovely ceramic flooring in kitchen and bathroom as well as granite countertops in the kitchen. There are 2 bedrooms at entry level and an upper bedroom with a sitting area. You will love the storage space the basement holds. The partially finished basement is freshly painted. There is a 1/2 bathroom in the basement. Wait! There's more. .. let's not forget the new central air unit for those hot '90 degree summer days which will be back with us in no time. Let's schedule your showing today!

Key facts

• Renovated throughout
• Natural light
• Private patio

Tags

• RENOVATED THROUGHOUT
• NATURAL LIGHT
• FUNCTIONAL BASEMENT
• PRIVATE PATIO

Property features AI

Finance

• Other: Pets allowed
• Financial info: No investor or rental income details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Natural gas heat and gas water heater; Electric service (implied)
• Home design: Residential property; 2-story structure; Built in 1948; Basement foundation; Approximately 0.12 acre lot (about 150 ft frontage)
• Construction: Brick construction; Basement foundation; Year built 1948
• Exterior features: Brick exterior; Fenced yard; Paved street frontage

Interior

• Kitchen: Kitchen on entry level (approx. 13 x 10) with ceramic flooring; Breakfast nook on entry level (approx. 8 x 10) with ceramic flooring
• Bedrooms: Two entry-level bedrooms (both ~11 x 10) with carpet; One second-level bedroom (~13 wide) with carpet
• Flooring: Carpet in most living and bedroom areas; Ceramic tile in kitchen, breakfast nook, and bathrooms; Concrete flooring in laundry area
• Bathrooms: One full bathroom; Two total baths/lavatories; Entry-level bathroom with ceramic flooring (approx. 9 x 6); Basement lavatory with ceramic flooring (approx. 8 x 6)
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Total of 10 rooms; Finished basement
• Laundry & utility: Laundry room in basement (approx. 6 x 5) with concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $63 ($756/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (1.5% below list).
• Recommended offer: $141k (1.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Bow Elementarymiddle School (math 5% / reading 5%, grade F, #1,325 of 1,397 statewide, top 99%, 574 students, 93% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 291 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($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 $989 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 16y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $140,873 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.99% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $95,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20069 Asbury Park	0.22mi	3/1.0	1,008 (+5%)	6mo	$73,000	$72	76
19975 Ferguson St	0.25mi	3/1.0	889 (-7%)	1mo	$50,650	$57	75
19950 Oakfield St	0.30mi	3/1.0	1,001 (+4%)	5mo	$40,000	$40	75
20245 Archdale St	0.22mi	3/1.0	890 (-7%)	4mo	$53,000	$60	74
20569 Biltmore St	0.09mi	3/1.5	1,073 (+12%)	2mo	$174,000	$162	73
20004 Southfield Fwy	0.37mi	2/1.0 (-1)	929 (-3%)	1mo	$20,000	$22	71
20232 Prevost St	0.47mi	3/1.0	933 (-3%)	4mo	$110,000	$118	70
19900 Southfield Rd	0.46mi	3/1.0	898 (-6%)	4mo	$110,000	$122	64
16442 Pembroke Ave	0.36mi	3/1.0	1,050 (+9%)	4mo	$40,000	$38	64
19365 Fenmore St	0.70mi	3/1.0	912 (-5%)	1mo	$94,900	$104	58
20084 Greenview Ave	0.65mi	3/1.0	912 (-5%)	5mo	$90,000	$99	57
20253 Winthrop St	0.58mi	3/1.0	1,093 (+14%)	5mo	$145,900	$133	46

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-18,747
• Equity at exit: $21,322

10-year hold

• IRR: -3.5%
• Equity multiple: 0.76×
• Total profit: $-9,455
• Equity at exit: $12,364

Cash invested: $40,040 (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 48235

• Rents YoY: 3.2%
• Active inventory: 291
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$750
• Tax from tax record: −$240 /mo · $2,885/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $63

Break-even live

Break-even rent $1,329

Max offer price $143,000

Occupancy floor 91%

Sensitivity live

Price	-10% $144	-5% $103	+0% $63	+5% $22	+10% $-18
Rent	-10% $-48	-5% $7	+0% $63	+5% $119	+10% $174
Rate	-1.0pp $135	-0.5pp $99	base $63	+0.5pp $26	+1.0pp $-12

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20314 Gilchrist St Detroit, MI	3.0	1.0	1042	$1,500	$1.44	6d	1	0.03mi
20210 Biltmore St Detroit, MI	3.0	1.0	1033	$1,350	$1.31	26d	1	0.13mi
20203 Gilchrist St Detroit, MI	3.0	1.0	1031	$1,250	$1.21	6d	1	0.14mi
20259 Oakfield St Detroit, MI	3.0	1.0	1056	$1,250	$1.18	18d	1	0.19mi
20043 Fenmore St Detroit, MI	3.0	1.0	1030	$1,423	$1.38	0d	1	0.37mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	14d	1	0.47mi
19918 Southfield Fwy Detroit, MI	3.0	1.0	915	$1,375	$1.50	16d	1	0.48mi
19818 Fenmore St Detroit, MI	3.0	1.0	902	$1,275	$1.41	45d	1	0.49mi
19970 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,000	$1.00	45d	1	0.49mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	16d	5	0.49mi
20527 Rosemont Ave Detroit, MI	2.0	2.0	975	$1,528	$1.57	45d	1	0.50mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	26d	1	0.62mi
19467 Rutherford St Detroit, MI	3.0	1.0	1002	$1,200	$1.20	18d	1	0.67mi
19440 Rutherford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	26d	1	0.71mi
19307 Lindsay St Detroit, MI	2.0	1.0	900	$1,100	$1.22	0d	1	0.75mi
20011 Avon Ave Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	0.78mi
16500 N Park Dr Southfield, MI	1.0–3.0	1.0–2.5	1500	$2,289	$1.53	0d	1	0.81mi
19445 Avon Ave Detroit, MI	3.0	1.0	1023	$1,550	$1.52	45d	1	0.94mi
20271 Grandville Ave Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	1.05mi
19329 Stahelin Ave Unit 1 Detroit, MI	3.0	1.5	833	$1,250	$1.50	45d	1	1.07mi
16200 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	971	$1,700	$1.75	7d	2	1.17mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,025	$1.40	0d	1	1.19mi
16300 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	950	$1,350	$1.42	45d	1	1.19mi
18494 Ashton Ave Detroit, MI	3.0	1.0	1000	$1,600	$1.60	18d	1	1.21mi
19176 Grandville Ave Detroit, MI	3.0	1.0	941	$1,300	$1.38	6d	1	1.28mi
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	45d	1	1.31mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	5d	1	1.31mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.35mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	21d	1	1.37mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	6d	1	1.38mi
18699 Shaftsbury Ave Detroit, MI	2.0	1.0	800	$1,000	$1.25	45d	1	1.38mi
18659 Shaftsbury Ave Detroit, MI	3.0	1.0	763	$1,323	$1.73	0d	1	1.41mi
15628 Stone Crossing Dr Southfield, MI	2.0	2.0	1046	$1,600	$1.53	0d	1	1.47mi
19457 Evergreen Rd Detroit, MI	2.0	1.0	1100	$1,200	$1.09	45d	1	1.48mi

Listing history 8 events

1. 2026-06-21
   days on market $143,000 Active 7 DOM
2. 2026-06-18
   days on market $143,000 Active 4 DOM
3. 2026-06-17
   days on market $143,000 Active 3 DOM
4. 2026-06-16
   days on market $143,000 Active 2 DOM
5. 2026-06-15
   days on marketlisting id $143,000 Active 1 DOM
6. 2026-06-15
   statusdays on market $143,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $143,000 Coming Soon 1 DOM

ⓘ 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: $2,885 · $240/mo
• Projected year-2 tax: $2,885 · $240/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 ≥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: $16,905
• − Mortgage interest: −$8,010
• − Property taxes: −$2,885
• − Insurance: −$715
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$4,160
• Taxable loss: −$1,570
• Est. tax savings @ 24.0%: +$377
• After-tax cash flow: $1,133/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+1687.5% since first listed

52 events — show timeline

• 2026-06-12 Coming Soon $143,000 MiRealSource-MiMLS
• 2023-04-25 Sold (Public Records) $131,000 Public Records
• 2023-04-20 Sold (MLS) $131,000 MiRealSource-MiMLS
• 2023-04-20 Sold (MLS) $131,000 REALCOMP
• 2023-03-31 Pending — MiRealSource-MiMLS
• 2023-03-31 Pending — REALCOMP
• 2023-02-28 Listing Removed — MiRealSource-MiMLS
• 2023-02-28 Listed $130,000 MiRealSource-MiMLS
• 2023-02-28 Listing Removed — REALCOMP
• 2023-02-28 Listed $130,000 REALCOMP
• 2023-02-07 Price Changed $130,000 MiRealSource-MiMLS
• 2023-02-07 Price Changed $130,000 REALCOMP
• 2023-01-10 Listing Removed — MiRealSource-MiMLS
• 2023-01-10 Listed $140,000 MiRealSource-MiMLS
• 2023-01-10 Listing Removed — REALCOMP
• 2023-01-10 Listed $140,000 REALCOMP
• 2022-10-26 Listing Removed — MiRealSource-MiMLS
• 2022-10-26 Listing Removed — REALCOMP
• 2022-10-25 Listed $140,000 MiRealSource-MiMLS
• 2022-10-25 Listed $140,000 REALCOMP
• 2022-09-29 Listed $140,000 REALCOMP
• 2022-09-28 Listed $140,000 MiRealSource-MiMLS
• 2022-07-28 Sold (Public Records) $48,000 Public Records
• 2022-07-21 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2022-07-21 Sold (MLS) $48,000 REALCOMP
• 2022-07-13 Pending — MiRealSource-MiMLS
• 2022-07-13 Pending — REALCOMP
• 2022-06-29 Contingent — MiRealSource-MiMLS
• 2022-06-29 Contingent — REALCOMP
• 2022-06-01 Listed $43,500 MiRealSource-MiMLS
• 2022-06-01 Listed $43,500 REALCOMP
• 2016-07-13 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2016-07-13 Sold (MLS) $24,000 REALCOMP
• 2016-06-11 Pending — MiRealSource-MiMLS
• 2016-06-11 Pending — REALCOMP
• 2016-06-10 Relisted — REALCOMP
• 2016-06-07 Listing Removed — REALCOMP
• 2016-05-11 Price Changed $24,000 MiRealSource-MiMLS
• 2016-05-11 Price Changed $24,000 REALCOMP
• 2016-04-15 Listed $27,000 MiRealSource-MiMLS
• 2016-03-14 Listed $27,000 REALCOMP
• 2010-05-18 Sold (MLS) $9,000 REALCOMP
• 2010-05-18 Sold (MLS) $9,000 MiRealSource-MiMLS
• 2010-05-07 Listing Removed — MiRealSource-MiMLS
• 2010-04-28 Listing Removed — MiRealSource-MiMLS
• 2010-04-28 Listed $8,000 REALCOMP
• 2010-04-28 Listed $8,000 MiRealSource-MiMLS
• 2010-04-27 Listing Removed — REALCOMP
• 2010-04-06 Listing Removed — REALCOMP
• 2010-04-06 Listed $8,000 REALCOMP
• 2010-01-27 Listed $15,000 REALCOMP
• 2010-01-26 Listed $8,000 MiRealSource-MiMLS

Property tax history

+4.3%/yr

Latest (2025): $2,885 · -6.0% YoY. Source: county tax records.