20043 Goulburn Ave · Detroit, MI 48205

$32,500

2 bd · 1.0 ba · 741 sqft · SingleFamily public records · 78 Days on market

Built 1948 4,792 sqft lot $44/sqft · 35% below area Est $50k · 35% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to this 1-story brick ranch! This home features 2 bedrooms and 1 full bathroom. Step inside to a bright living room filled with natural light, creating a warm and inviting atmosphere. The kitchen provides ample space for meal prepping and everyday cooking. Outside, you'll find a 1-car detached garage perfect for parking or additional storage. The yard offers great potential for gardening, outdoor entertaining, or relaxing cookouts. A wonderful opportunity for homeowners.

Key facts

• Bright living room
• Brick ranch
• Detached garage

Tags

• BRICK RANCH
• BRIGHT LIVING ROOM
• DETACHED GARAGE
• GREAT POTENTIAL FOR GARDENING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.8% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $225 of loan paydown is wiped out by about $975 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 30y ago; this cycle's ask has dropped $6k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $32k implies a 591% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.75% ✓
• Cap rate: 31.83%
• Cash-on-cash: 91.20%
• DSCR: 5.06
• GRM: 2.2

CMA / ARV

• ARV (median comp): $49,917
• List price: $32,500
• Delta: -34.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20091 Annott St	0.44mi	2/1.0	747 (+1%)	1mo	$12,800	$17	77
19758 Waltham St	0.22mi	3/1.0 (+1)	790 (+7%)	3mo	$6,000	$8	71
19392 Pelkey St	0.59mi	2/1.0	731 (-1%)	2mo	$30,000	$41	68
20520 Dresden St	0.36mi	2/1.5	680 (-8%)	0mo	$33,000	$49	67
20210 Hickory St	0.36mi	3/1.0 (+1)	779 (+5%)	6mo	$21,500	$28	65
12426 Sidonie Ave	0.72mi	2/1.0	750 (+1%)	4mo	$131,000	$175	62
20083 Bradford St	0.37mi	2/1.0	648 (-13%)	0mo	$24,000	$37	61
12832 Sherman Ave	0.60mi	2/1.0	696 (-6%)	2mo	$100,000	$144	60
19735 Annott St	0.50mi	3/1.0 (+1)	780 (+5%)	4mo	$69,500	$89	60
12484 Sherman Ave	0.60mi	2/1.0	800 (+8%)	3mo	$72,000	$90	57
13075 Sherman Ave	0.65mi	2/1.0	700 (-6%)	6mo	$83,000	$119	56
13475 Coleen Ave	0.56mi	2/1.0	672 (-9%)	6mo	$65,000	$97	53

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: 90.0%
• Equity multiple: 5.05×
• Total profit: $36,814
• Equity at exit: $4,846

10-year hold

• IRR: 92.5%
• Equity multiple: 9.90×
• Total profit: $80,970
• Equity at exit: $2,810

Cash invested: $9,100 (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: 2.2×

Monthly cashflow live

• Estimated rent: $1,220 high
• Mortgage (P&I): −$170
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $692

Break-even live

Break-even rent $344

Max offer price $32,500

Occupancy floor 38%

Sensitivity live

Price	-10% $710	-5% $701	+0% $692	+5% $682	+10% $673
Rent	-10% $595	-5% $643	+0% $692	+5% $740	+10% $788
Rate	-1.0pp $708	-0.5pp $700	base $692	+0.5pp $683	+1.0pp $675

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: $8,125
• Closing costs: $975
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.36mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	0.71mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	0.75mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.75mi
18667 Algonac St Detroit, MI	1.0	1.0	680	$1,999	$2.94	18d	1	1.21mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	18d	1	1.26mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	1.31mi
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	44d	1	1.41mi

Listing history 43 events

1. 2026-06-18
   days on market $32,500 Active 78 DOM
2. 2026-06-17
   days on market $32,500 Active 77 DOM
3. 2026-06-15
   days on market $32,500 Active 75 DOM
4. 2026-06-13
   days on market $32,500 Active 73 DOM
5. 2026-06-13
   days on market $32,500 Active 72 DOM
6. 2026-06-09
   days on market $32,500 Active 69 DOM
7. 2026-06-08
   days on market $32,500 Active 68 DOM
8. 2026-06-07
   days on market $32,500 Active 67 DOM
9. 2026-06-04
   days on market $32,500 Active 64 DOM
10. 2026-06-03
    days on market $32,500 Active 63 DOM
11. 2026-06-02
    days on market $32,500 Active 62 DOM
12. 2026-06-01
    days on market $32,500 Active 61 DOM
13. 2026-05-31
    days on market $32,500 Active 60 DOM
14. 2026-05-11
    price $32,500 483-char remark

    Show marketing remark (483 chars)

    Welcome to this 1-story brick ranch! This home features 2 bedrooms and 1 full bathroom. Step inside to a bright living room filled with natural light, creating a warm and inviting atmosphere. The kitchen provides ample space for meal prepping and everyday cooking. Outside, you'll find a 1-car detached garage perfect for parking or additional storage. The yard offers great potential for gardening, outdoor entertaining, or relaxing cookouts. A wonderful opportunity for homeowners.

15. 2026-05-11
    price $32,500 483-char remark

    Show marketing remark (483 chars)

    Welcome to this 1-story brick ranch! This home features 2 bedrooms and 1 full bathroom. Step inside to a bright living room filled with natural light, creating a warm and inviting atmosphere. The kitchen provides ample space for meal prepping and everyday cooking. Outside, you'll find a 1-car detached garage perfect for parking or additional storage. The yard offers great potential for gardening, outdoor entertaining, or relaxing cookouts. A wonderful opportunity for homeowners.

16. 2026-03-31
    listed $38,500 Active 483-char remark

    Show marketing remark (483 chars)

    Welcome to this 1-story brick ranch! This home features 2 bedrooms and 1 full bathroom. Step inside to a bright living room filled with natural light, creating a warm and inviting atmosphere. The kitchen provides ample space for meal prepping and everyday cooking. Outside, you'll find a 1-car detached garage perfect for parking or additional storage. The yard offers great potential for gardening, outdoor entertaining, or relaxing cookouts. A wonderful opportunity for homeowners.

17. 2026-03-31
    listed $38,500 Active 483-char remark

    Show marketing remark (483 chars)

    Welcome to this 1-story brick ranch! This home features 2 bedrooms and 1 full bathroom. Step inside to a bright living room filled with natural light, creating a warm and inviting atmosphere. The kitchen provides ample space for meal prepping and everyday cooking. Outside, you'll find a 1-car detached garage perfect for parking or additional storage. The yard offers great potential for gardening, outdoor entertaining, or relaxing cookouts. A wonderful opportunity for homeowners.

18. 2016-02-01
    historical
19. 2016-01-31
    historical
20. 2015-02-21
    price $13,000
21. 2014-08-09
    listed $10,000 Active
22. 2014-08-09
    listed $13,000
23. 2014-07-23
    historical
24. 2014-07-23
    historical
25. 2014-02-23
    listed $14,000
26. 2014-02-23
    listed $14,000
27. 2011-10-18
    soldstatus $4,700
28. 2011-10-18
    soldstatus $4,700
29. 2011-09-19
    historical
30. 2011-09-15
    listed $3,700
31. 2011-09-15
    listed $3,700
32. 2007-02-20
    historical
33. 2007-02-20
    historical
34. 2006-10-31
    listed $59,800
35. 2006-10-31
    listed $59,800
36. 2006-10-31
    historical
37. 2006-10-31
    historical
38. 2006-08-10
    listed $49,900
39. 2006-08-10
    listed $49,900
40. 1997-03-20
    soldstatus $31,900
41. 1996-12-02
    soldstatus $31,900
42. 1996-09-05
    historical
43. 1996-08-29
    listed $31,900

ⓘ 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: $1,055 · $88/mo
• Projected year-2 tax: $1,055 · $88/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: $14,636
• − Mortgage interest: −$1,821
• − Property taxes: −$1,055
• − Insurance: −$162
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$945
• Taxable income: $8,310
• Est. tax owed @ 24.0%: −$1,994
• After-tax cash flow: $6,305/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

+1.9% since first listed

30 events — show timeline

• 2026-05-11 Price Changed $32,500 MiRealSource-MiMLS
• 2026-05-11 Price Changed $32,500 REALCOMP
• 2026-03-31 Listed $38,500 REALCOMP
• 2026-03-31 Listed $38,500 MiRealSource-MiMLS
• 2016-02-01 Listing Removed — REALCOMP
• 2016-01-31 Listing Removed — MiRealSource-MiMLS
• 2015-02-21 Price Changed $13,000 REALCOMP
• 2014-08-09 Listed $13,000 MiRealSource-MiMLS
• 2014-08-09 Listed $10,000 REALCOMP
• 2014-07-23 Listing Removed — REALCOMP
• 2014-07-23 Listing Removed — MiRealSource-MiMLS
• 2014-02-23 Listed $14,000 REALCOMP
• 2014-02-23 Listed $14,000 MiRealSource-MiMLS
• 2011-10-18 Sold (MLS) $4,700 MiRealSource-MiMLS
• 2011-10-18 Sold (MLS) $4,700 REALCOMP
• 2011-09-19 Listing Removed — MiRealSource-MiMLS
• 2011-09-15 Listed $3,700 MiRealSource-MiMLS
• 2011-09-15 Listed $3,700 REALCOMP
• 2007-02-20 Listing Removed — MiRealSource-MiMLS
• 2007-02-20 Listing Removed — REALCOMP
• 2006-10-31 Listing Removed — REALCOMP
• 2006-10-31 Listing Removed — MiRealSource-MiMLS
• 2006-10-31 Listed $59,800 MiRealSource-MiMLS
• 2006-10-31 Listed $59,800 REALCOMP
• 2006-08-10 Listed $49,900 REALCOMP
• 2006-08-10 Listed $49,900 MiRealSource-MiMLS
• 1997-03-20 Sold (Public Records) $31,900 Public Records
• 1996-12-02 Sold (MLS) $31,900 MiRealSource-MiMLS
• 1996-09-05 Listing Removed — MiRealSource-MiMLS
• 1996-08-29 Listed $31,900 MiRealSource-MiMLS

Property tax history

-1.9%/yr

Latest (2025): $1,055 · -36.9% YoY. Source: county tax records.