20009 Packard St · Detroit, MI 48234

$149,900

4 bd · 1.5 ba · 1,824 sqft · MultiFamily public records · 24 Days on market

Built 1926 4,305 sqft lot Est $130k · 16% over

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Why this score? — see what drove the C+ 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
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Charming Brick Duplex – Turnkey Investment or Owner-Occupied Opportunity! Welcome to 20009 - 20011 Packard, Detroit, MI 48234 – a fully renovated brick duplex offering two spacious 2-bedroom units, each with its own updated kitchen and bath. Fresh paint and brand-new carpet throughout create move-in-ready living spaces that feel bright, clean, and modern. Whether you're an investor looking for immediate rental income, a first-time buyer wanting to live in one unit while renting the other, or a family seeking extra space and flexibility, this property checks every box. Solid brick construction means low-maintenance durability, while the recent updates deliver instant appeal to today's tenants and buyers alike. Prime Detroit location, excellent condition, and strong income potential – this duplex is ready for its next chapter. Schedule your showing today and see why this one won't last!

Key facts

• Updated bath
• Updated kitchen
• 4,305 sq ft lot

Tags

• FULLY RENOVATED BRICK DUPLEX
• UPDATED KITCHEN
• UPDATED BATH
• SOLID BRICK CONSTRUCTION
• MOVE-IN-READY LIVING SPACES
• PRIME DETROIT LOCATION

Property features AI

Finance

• Other: Lot dimensions approximately 35 x 123; Zoned for multi-family
• Financial info: Annual tax: $1,931

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two-story
• Construction: Brick construction; Block foundation; Built area above grade: 1,824 (finished)
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% 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 fast (+6.7%/yr); 226 active listings in the ZIP; 8 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).
• At $2,442/mo this rent would consume 83% of the median local household income ($35k/yr) (locally 2372% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 6y ago; this cycle's ask has dropped $19k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $150k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 14.10%
• Cash-on-cash: 27.89%
• DSCR: 2.24
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $129,504
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19640 Stotter St	0.29mi	4/2.0	1,904 (+4%)	12mo	$118,000	$62	67
20455 Spencer St	0.28mi	4/2.0	1,914 (+5%)	13mo	$135,000	$71	66
8206 Rivard Ave	0.54mi	4/2.0	1,568 (-14%)	23mo	$145,000	$92	30

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.13×
• Total profit: $47,303
• Equity at exit: $22,351

10-year hold

• IRR: 35.8%
• Equity multiple: 4.89×
• Total profit: $163,138
• Equity at exit: $12,961

Cash invested: $41,972 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 226
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,442 high
• Mortgage (P&I): −$786
• Tax from tax record: −$105 /mo · $1,262/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $975

Break-even live

Break-even rent $1,207

Max offer price $149,900

Occupancy floor 55%

Sensitivity live

Price	-10% $1,060	-5% $1,018	+0% $975	+5% $933	+10% $891
Rent	-10% $783	-5% $879	+0% $975	+5% $1,072	+10% $1,168
Rate	-1.0pp $1,051	-0.5pp $1,014	base $975	+0.5pp $937	+1.0pp $897

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,442
Total (2 units)			$2,442

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20042 Rogge St Detroit, MI	4.0	2.0	1232	$1,394	$1.13	44d	1	0.02mi
7044 Hudson Ave Warren, MI	3.0	1.5	1730	$1,700	$0.98	25d	1	1.02mi
7568 Hudson Ave Unit 1 Warren, MI	3.0	1.0	1415	$1,100	$0.78	5d	1	1.02mi
7584 Hudson Ave Warren, MI	5.0	1.0	1554	$1,800	$1.16	25d	1	1.02mi
20058 Bloom St Detroit, MI	4.0	1.0	1350	$1,450	$1.07	17d	1	1.04mi
18961 Teppert St Detroit, MI	3.0	1.5	2015	$1,250	$0.62	13d	1	1.23mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	44d	1	1.29mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	18d	1	1.38mi

Listing history 50 events

1. 2026-06-18
   days on market $149,900 Active 24 DOM
2. 2026-06-17
   pricedays on market $149,900 Active 23 DOM
3. 2026-06-15
   days on market $159,900 Active 21 DOM
4. 2026-06-13
   days on market $159,900 Active 19 DOM
5. 2026-06-13
   days on market $159,900 Active 18 DOM
6. 2026-06-09
   days on market $159,900 Active 15 DOM
7. 2026-06-08
   days on market $159,900 Active 14 DOM
8. 2026-06-07
   days on market $159,900 Active 13 DOM
9. 2026-06-04
   days on market $159,900 Active 10 DOM
10. 2026-06-03
    days on market $159,900 Active 9 DOM
11. 2026-06-02
    days on market $159,900 Active 8 DOM
12. 2026-06-01
    days on market $159,900 Active 7 DOM
13. 2026-05-31
    days on market $159,900 Active 6 DOM
14. 2026-05-25
    listed $169,000 Active

    Show marketing remark (954 chars)

    Charming Brick Duplex – Turnkey Investment or Owner-Occupied Opportunity! Welcome to 20009 - 20011 Packard, Detroit, MI 48234 – a fully renovated brick duplex offering two spacious 2-bedroom units, each with its own updated kitchen and bath. Fresh paint and brand-new carpet throughout create move-in-ready living spaces that feel bright, clean, and modern. Whether you're an investor looking for immediate rental income, a first-time buyer wanting to live in one unit while renting the other, or a family seeking extra space and flexibility, this property checks every box. Solid brick construction means low-maintenance durability, while the recent updates deliver instant appeal to today's tenants and buyers alike. Prime Detroit location, excellent condition, and strong income potential – this duplex is ready for its next chapter. Schedule your showing today and see why this one won't last!

15. 2026-05-25
    listed $169,000 Active 954-char remark

    Show marketing remark (954 chars)

    Charming Brick Duplex – Turnkey Investment or Owner-Occupied Opportunity! Welcome to 20009 - 20011 Packard, Detroit, MI 48234 – a fully renovated brick duplex offering two spacious 2-bedroom units, each with its own updated kitchen and bath. Fresh paint and brand-new carpet throughout create move-in-ready living spaces that feel bright, clean, and modern. Whether you're an investor looking for immediate rental income, a first-time buyer wanting to live in one unit while renting the other, or a family seeking extra space and flexibility, this property checks every box. Solid brick construction means low-maintenance durability, while the recent updates deliver instant appeal to today's tenants and buyers alike. Prime Detroit location, excellent condition, and strong income potential – this duplex is ready for its next chapter. Schedule your showing today and see why this one won't last!

16. 2023-10-27
    historical
17. 2023-10-27
    historical
18. 2023-07-18
    price $109,900
19. 2023-07-17
    price $109,900
20. 2023-04-30
    listed $64,900 Active
21. 2023-04-30
    listed $64,900 Active
22. 2023-03-31
    historical
23. 2023-03-31
    historical
24. 2023-02-02
    price $59,500
25. 2023-02-01
    price $59,500
26. 2022-10-28
    listed $64,900 Active
27. 2022-10-28
    listed $64,900 Active
28. 2022-08-31
    historical
29. 2022-08-31
    historical
30. 2022-08-22
    price $59,900
31. 2022-08-22
    price $59,900
32. 2022-06-03
    price $64,000
33. 2022-06-03
    price $64,000
34. 2022-04-18
    listed $64,900 Active
35. 2022-04-18
    listed $64,900 Active
36. 2022-02-15
    historical
37. 2022-02-15
    historical
38. 2022-01-06
    price $59,000
39. 2022-01-06
    price $59,000
40. 2021-12-31
    status Active
41. 2021-12-23
    historical
42. 2021-12-07
    price $59,500
43. 2021-12-06
    price $59,500
44. 2021-11-09
    price $59,900
45. 2021-11-08
    price $59,900
46. 2021-09-22
    price $64,500
47. 2021-09-22
    price $64,500
48. 2021-08-03
    listed $64,900 Active
49. 2021-08-03
    listed $64,900 Active
50. 2021-07-01
    historical

ⓘ 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: $1,262 · $105/mo
• Projected year-2 tax: $1,785 · $149/mo
• Expected delta: +$523/yr (+$44/mo · 41.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $29,304
• − Mortgage interest: −$8,397
• − Property taxes: −$1,262
• − Insurance: −$750
• − Repairs & maintenance: −$2,344
• − Management: −$2,344
• − Depreciation: −$4,361
• Taxable income: $9,846
• Est. tax owed @ 24.0%: −$2,363
• After-tax cash flow: $9,342/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+412.1% since first listed

58 events — show timeline

• 2026-05-25 Listed $169,000 REALCOMP
• 2026-05-25 Listed $169,000 MiRealSource-MiMLS
• 2023-10-27 Listing Removed — MiRealSource-MiMLS
• 2023-10-27 Listing Removed — REALCOMP
• 2023-07-18 Price Changed $109,900 MiRealSource-MiMLS
• 2023-07-17 Price Changed $109,900 REALCOMP
• 2023-04-30 Listed $64,900 MiRealSource-MiMLS
• 2023-04-30 Listed $64,900 REALCOMP
• 2023-03-31 Listing Removed — MiRealSource-MiMLS
• 2023-03-31 Listing Removed — REALCOMP
• 2023-02-02 Price Changed $59,500 MiRealSource-MiMLS
• 2023-02-01 Price Changed $59,500 REALCOMP
• 2022-10-28 Listed $64,900 MiRealSource-MiMLS
• 2022-10-28 Listed $64,900 REALCOMP
• 2022-08-31 Listing Removed — REALCOMP
• 2022-08-31 Listing Removed — MiRealSource-MiMLS
• 2022-08-22 Price Changed $59,900 MiRealSource-MiMLS
• 2022-08-22 Price Changed $59,900 REALCOMP
• 2022-06-03 Price Changed $64,000 MiRealSource-MiMLS
• 2022-06-03 Price Changed $64,000 REALCOMP
• 2022-04-18 Listed $64,900 MiRealSource-MiMLS
• 2022-04-18 Listed $64,900 REALCOMP
• 2022-02-15 Listing Removed — REALCOMP
• 2022-02-15 Listing Removed — MiRealSource-MiMLS
• 2022-01-06 Price Changed $59,000 MiRealSource-MiMLS
• 2022-01-06 Price Changed $59,000 REALCOMP
• 2021-12-31 Relisted — MiRealSource-MiMLS
• 2021-12-23 Listing Removed — MiRealSource-MiMLS
• 2021-12-07 Price Changed $59,500 MiRealSource-MiMLS
• 2021-12-06 Price Changed $59,500 REALCOMP
• 2021-11-09 Price Changed $59,900 MiRealSource-MiMLS
• 2021-11-08 Price Changed $59,900 REALCOMP
• 2021-09-22 Price Changed $64,500 MiRealSource-MiMLS
• 2021-09-22 Price Changed $64,500 REALCOMP
• 2021-08-03 Listed $64,900 MiRealSource-MiMLS
• 2021-08-03 Listed $64,900 REALCOMP
• 2021-07-01 Listing Removed — REALCOMP
• 2021-06-30 Listing Removed — MiRealSource-MiMLS
• 2021-05-28 Relisted — REALCOMP
• 2021-05-26 Listing Removed — REALCOMP
• 2021-04-30 Relisted — REALCOMP
• 2021-04-26 Listing Removed — REALCOMP
• 2021-04-15 Price Changed $70,000 MiRealSource-MiMLS
• 2021-04-15 Price Changed $70,000 REALCOMP
• 2021-01-06 Listed $64,900 MiRealSource-MiMLS
• 2021-01-06 Listed $64,900 REALCOMP
• 2020-10-01 Listing Removed — REALCOMP
• 2020-09-30 Listing Removed — MiRealSource-MiMLS
• 2020-09-01 Listing Removed — REALCOMP
• 2020-08-31 Listing Removed — MiRealSource-MiMLS
• 2020-03-03 Price Changed $59,900 MiRealSource-MiMLS
• 2020-03-03 Price Changed $59,900 REALCOMP
• 2020-03-02 Listed $44,900 MiRealSource-MiMLS
• 2020-03-02 Listed $59,900 MiRealSource-MiMLS
• 2020-03-02 Listed $59,900 REALCOMP
• 2020-03-02 Listed $44,900 REALCOMP
• 2001-06-27 Sold (Public Records) $76,000 Public Records
• 2000-03-20 Sold (Public Records) $33,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $1,262 · -8.1% YoY. Source: county tax records.