19373 Goulburn St · Detroit, MI 48205

$99,000

3 bd · 1.0 ba · 948 sqft · SingleFamily public records · 23 Days on market

Built 1949 3,920 sqft lot $104/sqft · 61% above area

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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 +25.3/30.0
• 1% rule +8.6/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 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

Excellent investment opportunity with reliable tenants already in place generating $1,200 per month in passive income, making this beautifully updated bungalow a seamless addition to your portfolio. Boasting impressive updates throughout, the home welcomes you with inviting curb appeal and a charming front porch, opening up to bright, fluid living spaces finished with contemporary flooring and a fresh, neutral color palette. The fully renovated kitchen serves as a functional highlight, outfitted with sleek granite countertops, an elegant tile backsplash, modern cabinetry, and an optimized refrigerator alcove with built-in overhead storage. An architectural archway leads into a sunny dining nook, while the staircase guides you up to a versatile, expansive upper-level loft featuring plush carpeting, recessed lighting, and unique sloped ceilings perfectly suited for a primary suite or spacious bedroom. Offering exceptional value, stylish finishes, and zero downtime for cash flow, this turnkey property can also be packaged with MLS #20261020237 for an expanded investment footprint—please respect the occupants' privacy and do not disturb tenants.

Key facts

• Updated bungalow
• Modern cabinetry
• Sunny dining nook

Tags

• UPDATED BUNGALOW
• FULLY RENOVATED KITCHEN
• GRANITE COUNTERTOPS
• TILE BACKSPLASH
• MODERN CABINETRY
• SUNNY DINING NOOK

Property features AI

Finance

• Other: Residential property
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story
• Construction: Brick construction
• Exterior features: Lot roughly 35 x 115 (0.09 acre); Subdivision: Roseland Park Sub; Cross streets: Goulburn / Pinewood

Interior

• Bedrooms: 3 total rooms (includes bedrooms and other rooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

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; 32 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 41% 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 $684 of loan paydown is wiped out by about $3k 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

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 17y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $99k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.36% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.75%
• DSCR: 1.43
• GRM: 6.2

CMA / ARV

• ARV (median comp): $61,676
• List price: $99,000
• Delta: 78.35%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19161 Hamburg St	0.22mi	3/1.0	960 (+1%)	2mo	$116,000	$121	86
18982 Hamburg St	0.29mi	3/1.0	952 (+0%)	3mo	$45,000	$47	84
19730 Goulburn St	0.23mi	3/1.5	977 (+3%)	1mo	$114,000	$117	81
20218 Goulburn St	0.57mi	3/1.0	965 (+2%)	1mo	$12,000	$12	69
13452 Tacoma St	0.45mi	3/1.0	900 (-5%)	1mo	$69,072	$77	69
13424 Tacoma St	0.43mi	3/1.0	900 (-5%)	3mo	$72,000	$80	69
20218 Hickory St	0.67mi	3/1.0	930 (-2%)	1mo	$26,000	$28	64
20200 Alcoy St	0.63mi	3/1.0	917 (-3%)	2mo	$55,100	$60	64
20300 Hickory St	0.74mi	3/1.0	918 (-3%)	1mo	$31,000	$34	60
20020 Pelkey St	0.61mi	3/1.0	1,020 (+8%)	2mo	$75,000	$74	58
20543 Waltham St	0.73mi	3/1.0	890 (-6%)	1mo	$50,000	$56	55
20541 Barlow St	0.73mi	2/1.0 (-1)	980 (+3%)	2mo	$60,000	$61	54

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-3,802
• Equity at exit: $14,761

10-year hold

• IRR: 3.7%
• Equity multiple: 1.25×
• Total profit: $6,820
• Equity at exit: $8,560

Cash invested: $27,720 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$519
• Tax from tax record: −$274 /mo · $3,289/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $225

Break-even live

Break-even rent $1,056

Max offer price $99,000

Occupancy floor 78%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.22mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.26mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	0.29mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	0.38mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	0.41mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.47mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.47mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	0.50mi
20091 Barlow St Detroit, MI	3.0	1.0	930	$1,300	$1.40	17d	1	0.51mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	0.52mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	0.57mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	0.57mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	17d	1	0.62mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.64mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.67mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	0.67mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.69mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	4d	1	0.73mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.84mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.84mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	0.88mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.93mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.02mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	1.04mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	1.06mi
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	1.12mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	24d	1	1.21mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	13d	1	1.34mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.40mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	1.45mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.49mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	1.50mi

Listing history 43 events

1. 2026-06-18
   days on market $99,000 Active 23 DOM
2. 2026-06-17
   days on market $99,000 Active 22 DOM
3. 2026-06-15
   days on market $99,000 Active 20 DOM
4. 2026-06-13
   days on market $99,000 Active 18 DOM
5. 2026-06-13
   pricedays on market $99,000 Active 17 DOM
6. 2026-06-09
   days on market $110,000 Active 14 DOM
7. 2026-06-08
   days on market $110,000 Active 13 DOM
8. 2026-06-07
   days on market $110,000 Active 12 DOM
9. 2026-06-04
   days on market $110,000 Active 9 DOM
10. 2026-06-03
    days on market $110,000 Active 8 DOM
11. 2026-06-02
    days on market $110,000 Active 7 DOM
12. 2026-06-01
    days on market $110,000 Active 6 DOM
13. 2026-05-31
    days on market $110,000 Active 5 DOM
14. 2026-04-03
    listed $110,000 Active 172-char remark
15. 2026-04-03
    listed $110,000 Active 172-char remark
16. 2026-01-15
    historical $1,200
17. 2025-10-16
    price $1,200
18. 2025-08-21
    price $1,250
19. 2025-05-28
    listed $1,300
20. 2021-04-08
    soldstatus $56,900
21. 2020-08-15
    soldstatus $18,000 Sold
22. 2020-08-15
    soldstatus $18,000 Closed
23. 2020-07-10
    status Pending
24. 2020-07-10
    status Pending
25. 2020-05-05
    historical
26. 2020-05-05
    listed $22,000 Active
27. 2020-05-05
    historical
28. 2020-05-05
    listed $22,000 Active
29. 2020-02-21
    listed $22,000 Active
30. 2020-02-21
    listed $22,000
31. 2018-07-23
    historical
32. 2018-07-23
    historical
33. 2018-06-25
    price $19,999
34. 2018-06-04
    listed $25,000 Active
35. 2018-06-04
    listed $19,999
36. 2018-06-01
    historical
37. 2018-06-01
    historical
38. 2017-11-21
    listed $25,000 Active
39. 2017-11-21
    listed $25,000
40. 2009-07-17
    soldstatus $7,700
41. 2009-06-03
    listed $8,900
42. 1992-10-07
    soldstatus $27,900
43. 1992-08-13
    soldstatus $13,000

ⓘ 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: $3,289 · $274/mo
• Projected year-2 tax: $3,289 · $274/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 · 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: $16,098
• − Mortgage interest: −$5,546
• − Property taxes: −$3,289
• − Insurance: −$495
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$2,880
• Taxable income: $1,312
• Est. tax owed @ 24.0%: −$315
• After-tax cash flow: $2,388/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

+661.5% since first listed

36 events — show timeline

• 2026-06-12 Price Changed $99,000 MiRealSource-MiMLS
• 2026-06-11 Price Changed $99,000 REALCOMP
• 2026-05-26 Listed $110,000 REALCOMP
• 2026-05-26 Listing Removed — MiRealSource-MiMLS
• 2026-05-26 Listing Removed — REALCOMP
• 2026-05-26 Listed $110,000 MiRealSource-MiMLS
• 2026-04-03 Listed $110,000 MiRealSource-MiMLS
• 2026-04-03 Listed $110,000 REALCOMP
• 2026-01-15 Rental Removed $1,200 APPFOLIO
• 2025-10-16 Price Changed $1,200 APPFOLIO
• 2025-08-21 Price Changed $1,250 APPFOLIO
• 2025-05-28 Listed for Rent $1,300 APPFOLIO
• 2021-04-08 Sold (Public Records) $56,900 Public Records
• 2020-08-15 Sold (MLS) $18,000 MiRealSource-MiMLS
• 2020-08-15 Sold (MLS) $18,000 REALCOMP
• 2020-07-10 Pending — MiRealSource-MiMLS
• 2020-07-10 Pending — REALCOMP
• 2020-05-05 Listing Removed — REALCOMP
• 2020-05-05 Listed $22,000 MiRealSource-MiMLS
• 2020-05-05 Listing Removed — MiRealSource-MiMLS
• 2020-05-05 Listed $22,000 REALCOMP
• 2020-02-21 Listed $22,000 MiRealSource-MiMLS
• 2020-02-21 Listed $22,000 REALCOMP
• 2018-07-23 Listing Removed — REALCOMP
• 2018-07-23 Listing Removed — MiRealSource-MiMLS
• 2018-06-25 Price Changed $19,999 MiRealSource-MiMLS
• 2018-06-04 Listed $19,999 REALCOMP
• 2018-06-04 Listed $25,000 MiRealSource-MiMLS
• 2018-06-01 Listing Removed — REALCOMP
• 2018-06-01 Listing Removed — MiRealSource-MiMLS
• 2017-11-21 Listed $25,000 REALCOMP
• 2017-11-21 Listed $25,000 MiRealSource-MiMLS
• 2009-07-17 Sold (MLS) $7,700 REALCOMP
• 2009-06-03 Listed $8,900 REALCOMP
• 1992-10-07 Sold (Public Records) $27,900 Public Records
• 1992-08-13 Sold (Public Records) $13,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,289 · +0.7% YoY. Source: county tax records.