12716 Wilshire Dr · Detroit, MI 48213

$105,000

4 bd · 1.5 ba · 1,566 sqft · SingleFamily public records · 43 Days on market

Built 1927 5,663 sqft lot $67/sqft · 40% above area Est $75k · 40% over ↓ 9% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

Welcome to this 1,566sf brick Cape Cod featuring a 4bedroom layout with two full bathrooms. This home boasts a first floor primary suite, a spacious living room, and a large 1,052sf basement offering ample storage or future finishing potential. Located just blocks from East Outer Drive, this home is a fantastic opportunity for an owner occupant or a savvy investor looking for a high occupancy rental.

Key facts

• Large basement
• Brick cape cod
• Spacious living room

Tags

• BRICK CAPE COD
• FIRST FLOOR PRIMARY SUITE
• SPACIOUS LIVING ROOM
• LARGE BASEMENT
• AMPLE STORAGE
• FUTURE FINISHING POTENTIAL

Property features AI

Exterior

• Parking: No garage
• Utilities: Water available; Sewer available
• Home design: Single-family residential; Two stories; Ground-level entry with steps; Brick exterior
• Construction: Brick construction
• Exterior features: Paved road access; Lot approximately 0.13 acres (39 x 150)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced-air heating with natural gas; No central cooling
• Interior features: Unfinished basement; Eight total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% 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: 192 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,483/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 1202% 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 $726 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1927 — 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: 1.41% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.27%
• DSCR: 1.72
• GRM: 5.9

CMA / ARV

• ARV (median comp): $74,837
• List price: $105,000
• Delta: 40.30%
• 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
12737 Promenade St	0.10mi	4/2.0	1,440 (-8%)	7mo	$50,000	$35	74
13310 Wilshire Dr	0.31mi	4/1.0	1,600 (+2%)	7mo	$55,000	$34	74
12816 Rosemary St	0.23mi	3/2.0 (-1)	1,659 (+6%)	4mo	$131,000	$79	68
12328 Longview St	0.25mi	4/1.0	1,400 (-11%)	1mo	$85,000	$61	67
12304 Rosemary St	0.31mi	3/1.5 (-1)	1,480 (-6%)	6mo	$22,000	$15	67
12151 Corbett St	0.43mi	5/1.5 (+1)	1,614 (+3%)	5mo	$100,000	$62	65
12646 Longview St	0.15mi	3/1.5 (-1)	1,750 (+12%)	7mo	$73,750	$42	63
13406 Elmdale St	0.45mi	5/2.0 (+1)	1,460 (-7%)	2mo	$32,500	$22	59
14756 Rosemary St	0.74mi	3/1.5 (-1)	1,600 (+2%)	4mo	$36,000	$23	53
13423 Kilbourne St	0.51mi	3/1.5 (-1)	1,450 (-7%)	8mo	$113,000	$78	52
13361 Maiden St	0.47mi	4/3.0	1,786 (+14%)	4mo	$165,000	$92	45
11833 Wilfred St	0.74mi	4/1.5	1,340 (-14%)	8mo	$100,000	$75	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.29×
• Total profit: $8,417
• Equity at exit: $15,656

10-year hold

• IRR: 16.7%
• Equity multiple: 2.37×
• Total profit: $40,220
• Equity at exit: $9,078

Cash invested: $29,400 (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 48213

• Active inventory: 192
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$551
• Tax from tax record: −$179 /mo · $2,145/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $398

Break-even live

Break-even rent $979

Max offer price $105,000

Occupancy floor 68%

Sensitivity live

Price	-10% $458	-5% $428	+0% $398	+5% $369	+10% $339
Rent	-10% $281	-5% $340	+0% $398	+5% $457	+10% $516
Rate	-1.0pp $451	-0.5pp $425	base $398	+0.5pp $371	+1.0pp $344

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.31mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	19d	1	0.32mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	0.45mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	25d	1	0.48mi
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	25d	1	0.56mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	0.66mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	0.84mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	45d	1	0.89mi
5856 Barrett St Unit 1 Detroit, MI	3.0	1.0	1070	$1,000	$0.93	0d	1	0.90mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	45d	1	0.94mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	5d	1	1.04mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	1.07mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.12mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	19d	1	1.12mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	1.13mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	1.14mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	1.16mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	5d	1	1.17mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	1.20mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	12d	1	1.26mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	45d	1	1.31mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	45d	1	1.34mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	19d	1	1.34mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	45d	1	1.39mi
5911 Somerset Ave Detroit, MI	3.0	1.0	1200	$1,350	$1.12	0d	1	1.42mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,225	$1.11	0d	1	1.42mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	18d	1	1.44mi
15238 Seymour St Detroit, MI	3.0	1.0	1064	$1,300	$1.22	0d	1	1.48mi
18080 Westphalia St Detroit, MI	5.0	3.0	2131	$2,500	$1.17	45d	1	1.49mi

Listing history 16 events

1. 2026-06-21
   days on market $105,000 Active 43 DOM
2. 2026-06-18
   days on market $105,000 Active 40 DOM
3. 2026-06-17
   days on market $105,000 Active 39 DOM
4. 2026-06-15
   days on market $105,000 Active 37 DOM
5. 2026-06-13
   days on market $105,000 Active 35 DOM
6. 2026-06-13
   days on market $105,000 Active 34 DOM
7. 2026-06-09
   days on market $105,000 Active 31 DOM
8. 2026-06-08
   days on market $105,000 Active 30 DOM
9. 2026-06-07
   pricedays on market $105,000 Active 29 DOM
10. 2026-06-04
    days on market $115,000 Active 26 DOM
11. 2026-06-03
    days on market $115,000 Active 25 DOM
12. 2026-06-02
    days on market $115,000 Active 24 DOM
13. 2026-06-01
    days on market $115,000 Active 23 DOM
14. 2026-05-31
    days on market $115,000 Active 22 DOM
15. 2026-05-09
    listed $115,000 Active 403-char remark

    Show marketing remark (403 chars)

    Welcome to this 1,566sf brick Cape Cod featuring a 4bedroom layout with two full bathrooms. This home boasts a first floor primary suite, a spacious living room, and a large 1,052sf basement offering ample storage or future finishing potential. Located just blocks from East Outer Drive, this home is a fantastic opportunity for an owner occupant or a savvy investor looking for a high occupancy rental.

16. 2026-05-09
    listed $115,000 Active 403-char remark

    Show marketing remark (403 chars)

    Welcome to this 1,566sf brick Cape Cod featuring a 4bedroom layout with two full bathrooms. This home boasts a first floor primary suite, a spacious living room, and a large 1,052sf basement offering ample storage or future finishing potential. Located just blocks from East Outer Drive, this home is a fantastic opportunity for an owner occupant or a savvy investor looking for a high occupancy rental.

ⓘ 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: $2,145 · $179/mo
• Projected year-2 tax: $2,145 · $179/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: $17,796
• − Mortgage interest: −$5,882
• − Property taxes: −$2,145
• − Insurance: −$525
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$3,055
• Taxable income: $3,343
• Est. tax owed @ 24.0%: −$802
• After-tax cash flow: $3,980/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

-8.7% since first listed

4 events — show timeline

• 2026-06-05 Price Changed $105,000 MiRealSource-MiMLS
• 2026-06-04 Price Changed $105,000 REALCOMP
• 2026-05-09 Listed $115,000 REALCOMP
• 2026-05-09 Listed $115,000 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $2,145 · +1.0% YoY. Source: county tax records.