12441 Lansdowne St · Detroit, MI 48224

$48,000

2 bd · 1.0 ba · 679 sqft · SingleFamily public records · 48 Days on market

Built 1943 5,663 sqft lot $71/sqft · 30% above area Est $38k · 26% 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
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 5,663 sq ft lot
• Built 1943
• Listed 47 days

Property features AI

Finance

• Other: Lot approximately 0.13 acres (dimensions 42 x 134.61); Subdivision: PARK DRIVE 4; Directions: Near Moross and I-94 (south of Moross, west of I-94)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation
• Exterior features: Asphalt roof; Paved road access

Interior

• Bedrooms: Total of 4 rooms (includes living spaces and bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 10.1% 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 flat; 492 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k 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 + 0.7% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.16% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.47%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (median comp): $38,044
• List price: $48,000
• Delta: 26.17%
• 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
19379 Mccormick St	0.26mi	2/1.0	696 (+2%)	4mo	$118,900	$171	80
19331 Mccormick St	0.23mi	2/1.0	696 (+2%)	6mo	$20,000	$29	80
19139 Kenosha St	0.30mi	2/1.0	681 (+0%)	7mo	$95,000	$140	80
18700 Mccormick St	0.25mi	2/1.0	706 (+4%)	5mo	$63,000	$89	78
19380 Roscommon St	0.44mi	2/1.0	684 (+1%)	5mo	$100,500	$147	74
18996 Roscommon St	0.38mi	2/1.0	698 (+3%)	5mo	$98,000	$140	73
18547 Mccormick St	0.32mi	3/1.0 (+1)	689 (+2%)	7mo	$30,000	$44	72
19404 Roscommon St	0.45mi	2/1.0	700 (+3%)	4mo	$85,000	$121	70
12505 Laing St	0.18mi	3/1.0 (+1)	752 (+11%)	3mo	$54,600	$73	66
16100 Liberal St	0.67mi	2/1.0	679 (0%)	7mo	$15,900	$23	62
11974 Duchess St	0.66mi	2/1.0	724 (+7%)	5mo	$37,000	$51	54
11624 Wayburn St	0.52mi	3/1.0 (+1)	756 (+11%)	3mo	$17,000	$22	49

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 2.56×
• Total profit: $20,931
• Equity at exit: $7,157

10-year hold

• IRR: 43.1%
• Equity multiple: 4.66×
• Total profit: $49,143
• Equity at exit: $4,150

Cash invested: $13,440 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,036 high
• Mortgage (P&I): −$252
• Tax est. 1.5%: −$60 /mo · $720/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $487

Break-even live

Break-even rent $420

Max offer price $48,000

Occupancy floor 48%

Sensitivity live

Price	-10% $520	-5% $503	+0% $487	+5% $470	+10% $454
Rent	-10% $405	-5% $446	+0% $487	+5% $528	+10% $569
Rate	-1.0pp $511	-0.5pp $499	base $487	+0.5pp $474	+1.0pp $462

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	0.39mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.39mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.40mi
16241 Seven Mile E Unit 4 Detroit, MI	1.0	1.0	650	$650	$1.00	45d	1	0.42mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	45d	1	1.23mi
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	45d	1	1.27mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	4d	1	1.39mi

Listing history 36 events

1. 2026-06-21
   days on market $48,000 Active 48 DOM
2. 2026-06-18
   days on market $48,000 Active 45 DOM
3. 2026-06-17
   days on market $48,000 Active 44 DOM
4. 2026-06-15
   days on market $48,000 Active 42 DOM
5. 2026-06-13
   days on market $48,000 Active 40 DOM
6. 2026-06-13
   days on market $48,000 Active 39 DOM
7. 2026-06-09
   days on market $48,000 Active 36 DOM
8. 2026-06-08
   days on market $48,000 Active 35 DOM
9. 2026-06-07
   days on market $48,000 Active 34 DOM
10. 2026-06-04
    days on market $48,000 Active 31 DOM
11. 2026-06-03
    days on market $48,000 Active 30 DOM
12. 2026-06-02
    days on market $48,000 Active 29 DOM
13. 2026-06-01
    days on market $48,000 Active 28 DOM
14. 2026-05-31
    days on market $48,000 Active 27 DOM
15. 2026-05-04
    listed $48,000 Active
16. 2026-05-04
    listed $48,000 Active
17. 2019-07-01
    historical
18. 2019-07-01
    historical
19. 2019-06-30
    historical
20. 2019-04-07
    status Active
21. 2018-07-19
    historical
22. 2018-07-01
    status Active
23. 2018-07-01
    historical
24. 2017-07-25
    listed $14,000 Active
25. 2017-07-24
    listed $14,000 Active
26. 2017-07-24
    listed $14,000 Active
27. 2017-07-01
    historical
28. 2017-07-01
    historical
29. 2017-06-30
    historical
30. 2016-10-25
    status Back on Market
31. 2016-10-25
    status Active
32. 2016-06-29
    status Pending
33. 2016-06-29
    status Pending
34. 2016-04-06
    listed $14,000 Active
35. 2016-04-06
    listed $14,000 Active
36. 2016-04-06
    listed $14,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,434
• − Mortgage interest: −$2,689
• − Property taxes: −$720
• − Insurance: −$240
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$1,396
• Taxable income: $5,399
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $4,546/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+242.9% since first listed

22 events — show timeline

• 2026-05-04 Listed $48,000 REALCOMP
• 2026-05-04 Listed $48,000 MiRealSource-MiMLS
• 2019-07-01 Listing Removed — MiRealSource-MiMLS
• 2019-07-01 Listing Removed — REALCOMP
• 2019-06-30 Listing Removed — MiRealSource-MiMLS
• 2019-04-07 Relisted — MiRealSource-MiMLS
• 2018-07-19 Listing Removed — MiRealSource-MiMLS
• 2018-07-01 Relisted — MiRealSource-MiMLS
• 2018-07-01 Listing Removed — MiRealSource-MiMLS
• 2017-07-25 Listed $14,000 MiRealSource-MiMLS
• 2017-07-24 Listed $14,000 REALCOMP
• 2017-07-24 Listed $14,000 MiRealSource-MiMLS
• 2017-07-01 Listing Removed — MiRealSource-MiMLS
• 2017-07-01 Listing Removed — REALCOMP
• 2017-06-30 Listing Removed — MiRealSource-MiMLS
• 2016-10-25 Relisted — MiRealSource-MiMLS
• 2016-10-25 Relisted — REALCOMP
• 2016-06-29 Pending — REALCOMP
• 2016-06-29 Pending — MiRealSource-MiMLS
• 2016-04-06 Listed $14,000 REALCOMP
• 2016-04-06 Listed $14,000 MiRealSource-MiMLS
• 2016-04-06 Listed $14,000 MiRealSource-MiMLS

Property tax history

+9.9%/yr

Latest (2025): $3,494 · +0.7% YoY. Source: county tax records.