20502 Riopelle St · Detroit, MI 48203

$59,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 193 Days on market

Built 1941 4,792 sqft lot $54/sqft · 6% below area Est $63k · 6% under

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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
• ARV discount +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BEDROOM BRICK HOME. HOME IS CLOSE TO DINING, SHOPPING AND ENTERTAINMENT. LOCATED ABOUT 15 MIN FROM DOWNTOWN. GREAT OPPORTUNITY FOR AN INVESTOR. ALREADY PRODUCING INCOME. ALL MEASURMENTS ARE ESTIMATED. BATVAI. SELLER WILL LOOK AT ALL REASONABLE OFFERS. PICTURES ARE BEFORE TENANT MOVE IN. PLEASE DO NOT DISTURB THE TENANT. TENANT PAYS $265 AND SEC 8 PAYS $685. TENANT IS ON A MTM.

Key facts

• Brick home
• 4,792 sq ft lot
• Built 1941

Tags

• BRICK HOME
• ALREADY PRODUCING INCOME

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.7% 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: 216 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 45% of the median local income ($38k/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 $408 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 + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 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 1941 — 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: 2.42% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.61%
• DSCR: 3.30
• GRM: 3.4

CMA / ARV

• ARV (median comp): $63,042
• List price: $59,000
• Delta: -6.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20473 Greeley St	0.09mi	3/1.0	1,179 (+7%)	0mo	$47,000	$40	83
1107 E Muir Ave	0.34mi	3/1.0	1,081 (-2%)	1mo	$147,900	$137	80
1727 E Elza Ave	0.40mi	3/2.0	1,123 (+2%)	1mo	$185,000	$165	73
1218 E Milton Ave	0.36mi	3/1.0	1,021 (-7%)	1mo	$155,000	$152	70
19711 Greeley St	0.50mi	3/1.0	1,125 (+2%)	4mo	$75,000	$67	70
1216 E George Ave	0.30mi	3/1.0	1,015 (-8%)	4mo	$150,000	$148	70
1437 E Madge Ave	0.57mi	3/1.5	1,104 (+0%)	4mo	$160,000	$145	68
19710 Greeley St	0.49mi	3/1.5	1,143 (+4%)	3mo	$80,000	$70	66
750 E Hayes Ave	0.54mi	4/1.5 (+1)	1,125 (+2%)	2mo	$212,500	$189	62
20041 Marx St	0.31mi	3/1.5	1,233 (+12%)	2mo	$130,500	$106	62
1521 E Granet Ave	0.66mi	3/2.0	1,000 (-9%)	3mo	$195,000	$195	47
20529 Irvington St	0.62mi	3/1.0	946 (-14%)	3mo	$50,000	$53	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.5%
• Equity multiple: 3.16×
• Total profit: $35,720
• Equity at exit: $8,797

10-year hold

• IRR: 55.0%
• Equity multiple: 6.42×
• Total profit: $89,491
• Equity at exit: $5,101

Cash invested: $16,520 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,431 high
• Mortgage (P&I): −$309
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $710

Break-even live

Break-even rent $531

Max offer price $59,000

Occupancy floor 45%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 E Muir Ave Hazel Park, MI	3.0	2.0	1236	$1,600	$1.29	21d	1	0.26mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	0.34mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	1d	1	0.44mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	0.44mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	17d	1	0.52mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	1d	1	0.53mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	21d	1	0.55mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	21d	1	0.55mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	0.63mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	0.65mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	0.75mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	20d	1	0.84mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.86mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	14d	1	0.97mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	24d	1	0.98mi
18882 Marx St Highland Park, MI	2.0	1.0	1000	$1,300	$1.30	43d	1	1.00mi
20000 Norwood St Detroit, MI	3.0	1.5	1150	$1,200	$1.04	24d	1	1.04mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	24d	1	1.11mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	4d	1	1.16mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	24d	1	1.16mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	24d	1	1.16mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	24d	1	1.17mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	16d	1	1.20mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	16d	1	1.20mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	4d	1	1.22mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	1.25mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	16d	1	1.31mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	1.31mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	16d	1	1.39mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	21d	1	1.41mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	10d	1	1.41mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	43d	1	1.42mi
23400 Reynolds Ave Hazel Park, MI	3.0	1.0	1305	$1,900	$1.46	4d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $59,000 Active 193 DOM
2. 2026-06-17
   days on market $59,000 Active 192 DOM
3. 2026-06-15
   days on market $59,000 Active 190 DOM
4. 2026-06-13
   days on market $59,000 Active 188 DOM
5. 2026-06-13
   days on market $59,000 Active 187 DOM
6. 2026-06-09
   days on market $59,000 Active 184 DOM
7. 2026-06-08
   days on market $59,000 Active 183 DOM
8. 2026-06-07
   days on market $59,000 Active 182 DOM
9. 2026-06-04
   days on market $59,000 Active 179 DOM
10. 2026-06-03
    days on market $59,000 Active 178 DOM
11. 2026-06-01
    days on market $59,000 Active 176 DOM
12. 2026-05-31
    days on market $59,000 Active 175 DOM
13. 2026-04-17
    price $59,000 381-char remark

    Show marketing remark (381 chars)

    3 BEDROOM BRICK HOME. HOME IS CLOSE TO DINING, SHOPPING AND ENTERTAINMENT. LOCATED ABOUT 15 MIN FROM DOWNTOWN. GREAT OPPORTUNITY FOR AN INVESTOR. ALREADY PRODUCING INCOME. ALL MEASURMENTS ARE ESTIMATED. BATVAI. SELLER WILL LOOK AT ALL REASONABLE OFFERS. PICTURES ARE BEFORE TENANT MOVE IN. PLEASE DO NOT DISTURB THE TENANT. TENANT PAYS $265 AND SEC 8 PAYS $685. TENANT IS ON A MTM.

14. 2026-04-17
    price $59,000 381-char remark

    Show marketing remark (381 chars)

    3 BEDROOM BRICK HOME. HOME IS CLOSE TO DINING, SHOPPING AND ENTERTAINMENT. LOCATED ABOUT 15 MIN FROM DOWNTOWN. GREAT OPPORTUNITY FOR AN INVESTOR. ALREADY PRODUCING INCOME. ALL MEASURMENTS ARE ESTIMATED. BATVAI. SELLER WILL LOOK AT ALL REASONABLE OFFERS. PICTURES ARE BEFORE TENANT MOVE IN. PLEASE DO NOT DISTURB THE TENANT. TENANT PAYS $265 AND SEC 8 PAYS $685. TENANT IS ON A MTM.

15. 2025-12-07
    listed $65,000 Active 381-char remark

    Show marketing remark (381 chars)

    3 BEDROOM BRICK HOME. HOME IS CLOSE TO DINING, SHOPPING AND ENTERTAINMENT. LOCATED ABOUT 15 MIN FROM DOWNTOWN. GREAT OPPORTUNITY FOR AN INVESTOR. ALREADY PRODUCING INCOME. ALL MEASURMENTS ARE ESTIMATED. BATVAI. SELLER WILL LOOK AT ALL REASONABLE OFFERS. PICTURES ARE BEFORE TENANT MOVE IN. PLEASE DO NOT DISTURB THE TENANT. TENANT PAYS $265 AND SEC 8 PAYS $685. TENANT IS ON A MTM.

16. 2025-12-07
    listed $65,000 Active 381-char remark

    Show marketing remark (381 chars)

    3 BEDROOM BRICK HOME. HOME IS CLOSE TO DINING, SHOPPING AND ENTERTAINMENT. LOCATED ABOUT 15 MIN FROM DOWNTOWN. GREAT OPPORTUNITY FOR AN INVESTOR. ALREADY PRODUCING INCOME. ALL MEASURMENTS ARE ESTIMATED. BATVAI. SELLER WILL LOOK AT ALL REASONABLE OFFERS. PICTURES ARE BEFORE TENANT MOVE IN. PLEASE DO NOT DISTURB THE TENANT. TENANT PAYS $265 AND SEC 8 PAYS $685. TENANT IS ON A MTM.

17. 2018-11-16
    soldstatus $56,000
18. 2018-11-03
    historical
19. 2018-11-02
    soldstatus $32,000
20. 2018-10-19
    status Pending
21. 2018-10-18
    status Pending
22. 2018-10-18
    historical
23. 2018-10-13
    listed $32,000 Active
24. 2018-10-13
    listed $32,000 Active
25. 2018-05-07
    soldstatus $9,000
26. 2017-03-03
    soldstatus $12,542

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,167
• − Mortgage interest: −$3,305
• − Property taxes: −$1,028
• − Insurance: −$295
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$1,716
• Taxable income: $8,076
• Est. tax owed @ 24.0%: −$1,938
• After-tax cash flow: $6,588/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

+370.4% since first listed

14 events — show timeline

• 2026-04-17 Price Changed $59,000 MiRealSource-MiMLS
• 2026-04-17 Price Changed $59,000 REALCOMP
• 2025-12-07 Listed $65,000 REALCOMP
• 2025-12-07 Listed $65,000 MiRealSource-MiMLS
• 2018-11-16 Sold (Public Records) $56,000 Public Records
• 2018-11-03 Listing Removed — REALCOMP
• 2018-11-02 Sold (Public Records) $32,000 Public Records
• 2018-10-19 Pending — MiRealSource-MiMLS
• 2018-10-18 Pending — REALCOMP
• 2018-10-18 Listing Removed — MiRealSource-MiMLS
• 2018-10-13 Listed $32,000 MiRealSource-MiMLS
• 2018-10-13 Listed $32,000 REALCOMP
• 2018-05-07 Sold (Public Records) $9,000 Public Records
• 2017-03-03 Sold (Public Records) $12,542 Public Records

Property tax history

-2.8%/yr

Latest (2025): $1,028 · -8.3% YoY. Source: county tax records.