13112 Canonbury St · Detroit, MI 48205

$77,500

3 bd · 1.0 ba · 834 sqft · SingleFamily public records · 101 Days on market

Built 1940 4,356 sqft lot $93/sqft · 53% above area Est $62k · 24% 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 +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $71k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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 rising (+1.3%/yr); 376 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 39% 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 $536 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 + 1.3% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $78k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,525 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.64% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.44%
• DSCR: 2.18
• GRM: 5.1

CMA / ARV

• ARV (median comp): $62,462
• List price: $77,500
• Delta: 24.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11101 Portlance St	0.10mi	3/1.0	897 (+8%)	9mo	$100,000	$111	75
17401 Albion St	0.43mi	2/1.0 (-1)	865 (+4%)	1mo	$50,000	$58	68
17311 Teppert St	0.28mi	2/1.0 (-1)	875 (+5%)	14mo	$35,000	$40	62
11455 Kenmoor St	0.35mi	3/1.5	955 (+14%)	4mo	$119,000	$125	54
17877 Rowe St	0.66mi	3/1.0	868 (+4%)	11mo	$88,500	$102	53
11544 Kennebec St	0.41mi	2/1.0 (-1)	795 (-5%)	18mo	$35,000	$44	53
11443 Christy St	0.59mi	2/1.0 (-1)	780 (-6%)	23mo	$28,000	$36	38
11839 Greiner St	0.74mi	2/1.0 (-1)	743 (-11%)	12mo	$22,000	$30	33

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: 13.7%
• Equity multiple: 1.54×
• Total profit: $11,617
• Equity at exit: $11,556

10-year hold

• IRR: 21.1%
• Equity multiple: 2.65×
• Total profit: $35,762
• Equity at exit: $6,701

Cash invested: $21,700 (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: 376
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,272 high
• Mortgage (P&I): −$406
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$32
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $412

Break-even live

Break-even rent $751

Max offer price $77,500

Occupancy floor 63%

Sensitivity live

Price	-10% $456	-5% $434	+0% $412	+5% $390	+10% $368
Rent	-10% $311	-5% $361	+0% $412	+5% $462	+10% $512
Rate	-1.0pp $451	-0.5pp $431	base $412	+0.5pp $392	+1.0pp $371

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.51mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	0.65mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	0.81mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	0.89mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.89mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	1.01mi
7533 Quinn St Unit 1 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	1.17mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	25d	1	1.19mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.24mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	1.27mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	1.27mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	1.27mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	1.28mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.35mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	23d	1	1.35mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	18d	1	1.36mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.43mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	1.49mi

Listing history 30 events

1. 2026-06-21
   days on market $77,500 Active 101 DOM
2. 2026-06-18
   days on market $77,500 Active 98 DOM
3. 2026-06-17
   days on market $77,500 Active 97 DOM
4. 2026-06-16
   price $77,500 Active 95 DOM
5. 2026-06-15
   days on market $82,000 Active 95 DOM
6. 2026-06-13
   days on market $82,000 Active 93 DOM
7. 2026-06-13
   days on market $82,000 Active 92 DOM
8. 2026-06-09
   days on market $82,000 Active 89 DOM
9. 2026-06-08
   days on market $82,000 Active 88 DOM
10. 2026-06-07
    days on market $82,000 Active 87 DOM
11. 2026-06-04
    days on market $82,000 Active 84 DOM
12. 2026-06-03
    days on market $82,000 Active 83 DOM
13. 2026-06-01
    days on market $82,000 Active 81 DOM
14. 2026-05-31
    days on market $82,000 Active 80 DOM
15. 2026-05-20
    price $82,000 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

16. 2026-05-19
    price $82,000 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

17. 2026-05-02
    status Active 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

18. 2026-05-02
    status Active 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

19. 2026-04-23
    historical Accepting Backup Offers 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

20. 2026-04-23
    historical Active Under Contract 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

21. 2026-03-12
    listed $85,000 Active 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

22. 2026-03-12
    listed $85,000 Active 229-char remark

    Show marketing remark (229 chars)

    3-Bedroom brick bungalow conveniently location on the east side. With newer kitchen flooring and carpet in the upstairs bedroom, this home has great potential. Don't Miss out on this great opportunity and schedule an appointment.

23. 2026-01-25
    historical
24. 2026-01-25
    historical
25. 2025-12-02
    listed $95,000 Active
26. 2025-12-02
    listed $95,000 Active
27. 2025-11-26
    historical
28. 2010-05-18
    soldstatus $50,000
29. 2010-05-07
    soldstatus $50,000
30. 2010-02-23
    listed $65,000

ⓘ 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: $1,055 · $88/mo
• Projected year-2 tax: $1,124 · $94/mo
• Expected delta: +$69/yr (+$6/mo · 6.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 98% 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: $15,263
• − Mortgage interest: −$4,341
• − Property taxes: −$1,055
• − Insurance: −$1,185
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$2,255
• Taxable income: $3,985
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $3,984/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

+26.2% since first listed

16 events — show timeline

• 2026-05-20 Price Changed $82,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $82,000 REALCOMP
• 2026-05-02 Relisted — MiRealSource-MiMLS
• 2026-05-02 Relisted — REALCOMP
• 2026-04-23 Contingent — MiRealSource-MiMLS
• 2026-04-23 Contingent — REALCOMP
• 2026-03-12 Listed $85,000 REALCOMP
• 2026-03-12 Listed $85,000 MiRealSource-MiMLS
• 2026-01-25 Listing Removed — MiRealSource-MiMLS
• 2026-01-25 Listing Removed — REALCOMP
• 2025-12-02 Listed $95,000 MiRealSource-MiMLS
• 2025-12-02 Listed $95,000 REALCOMP
• 2025-11-26 Coming Soon — MiRealSource-MiMLS
• 2010-05-18 Sold (Public Records) $50,000 Public Records
• 2010-05-07 Sold (MLS) $50,000 REALCOMP
• 2010-02-23 Listed $65,000 REALCOMP

Property tax history

-2.0%/yr

Latest (2025): $1,055 · -43.6% YoY. Source: county tax records.