12574 Corbett St · Detroit, MI 48213

$48,000

2 bd · 1.0 ba · 956 sqft · SingleFamily public records · 236 Days on market

Built 1939 4,792 sqft lot $50/sqft · at area comps Est $48k · at est. ↓ 36% since listing

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Why this score? — see what drove the B- 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
• ARV discount +7.1/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

Key facts

• Garage and shed
• Basement
• Hardwood floors

Tags

• EAST SIDE BRICK BUNGALOW
• HARDWOOD FLOORS
• GARAGE AND SHED
• 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 $551 ($7k/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: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.1% 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: 192 active listings in the ZIP; 19 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).
• This rent runs 41% of the median local income ($34k/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 $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 + 3.0% 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 236 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y ago; this cycle's ask has dropped $14k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.43% ✓
• Cap rate: 20.08%
• Cash-on-cash: 49.23%
• DSCR: 3.19
• GRM: 3.4

CMA / ARV

• ARV (median comp): $47,538
• List price: $48,000
• Delta: 0.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12561 Maiden St	0.03mi	3/1.0 (+1)	963 (+1%)	1mo	$69,690	$72	92
12541 Camden St	0.14mi	2/1.0	1,014 (+6%)	9mo	$29,525	$29	76
12521 Chelsea St	0.25mi	2/1.0	953 (-0%)	18mo	$27,000	$28	73
13067 Wade St	0.32mi	2/1.0	910 (-5%)	16mo	$28,000	$31	63
12389 Camden St	0.18mi	2/1.0	864 (-10%)	18mo	$40,000	$46	61
8801 E Outer Dr	0.46mi	3/1.5 (+1)	1,047 (+10%)	1mo	$40,000	$38	55
8750 E Outer Dr	0.41mi	3/1.0 (+1)	1,070 (+12%)	7mo	$102,000	$95	50
12527 Glenfield St	0.66mi	3/1.0 (+1)	935 (-2%)	16mo	$22,000	$24	47
12780 Evanston St	0.32mi	3/2.5 (+1)	1,074 (+12%)	9mo	$17,500	$16	46
14227 Elmdale St	0.58mi	3/1.0 (+1)	880 (-8%)	13mo	$27,000	$31	44
14263 Hampshire St	0.65mi	3/1.0 (+1)	1,056 (+10%)	5mo	$16,500	$16	43
12786 Rosemary St	0.52mi	3/2.0 (+1)	1,038 (+9%)	19mo	$127,000	$122	36

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: 46.9%
• Equity multiple: 3.04×
• Total profit: $27,384
• Equity at exit: $7,157

10-year hold

• IRR: 52.6%
• Equity multiple: 6.15×
• Total profit: $69,239
• 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 48213

• Active inventory: 192
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$252
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $551

Break-even live

Break-even rent $470

Max offer price $48,000

Occupancy floor 48%

Sensitivity live

Price	-10% $579	-5% $565	+0% $551	+5% $538	+10% $524
Rent	-10% $459	-5% $505	+0% $551	+5% $598	+10% $644
Rate	-1.0pp $576	-0.5pp $564	base $551	+0.5pp $539	+1.0pp $526

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 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	0.25mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	6d	1	0.33mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.39mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.51mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	16d	1	0.82mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	0.86mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	0.99mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	1.06mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.06mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	1.12mi
5076 Chalmers St Unit 5074 Detroit, MI	1.0	1.0	700	$925	$1.32	25d	1	1.21mi
14103 Rochelle Ave Unit 3 Detroit, MI	1.0	1.0	700	$800	$1.14	44d	1	1.26mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	1.29mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.30mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	1.34mi
4667 Eastlawn St Detroit, MI	3.0	1.0	646	$1,095	$1.70	4d	1	1.34mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	16d	1	1.39mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	1.40mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	1.43mi

Listing history 39 events

1. 2026-06-21
   days on market $48,000 Active 236 DOM
2. 2026-06-18
   days on market $48,000 Active 233 DOM
3. 2026-06-17
   days on market $48,000 Active 232 DOM
4. 2026-06-15
   days on market $48,000 Active 230 DOM
5. 2026-06-13
   days on market $48,000 Active 228 DOM
6. 2026-06-13
   days on market $48,000 Active 227 DOM
7. 2026-06-09
   days on market $48,000 Active 224 DOM
8. 2026-06-08
   days on market $48,000 Active 223 DOM
9. 2026-06-07
   days on market $48,000 Active 222 DOM
10. 2026-06-04
    days on market $48,000 Active 219 DOM
11. 2026-06-03
    days on market $48,000 Active 218 DOM
12. 2026-06-01
    days on market $48,000 Active 216 DOM
13. 2026-05-31
    days on market $48,000 Active 215 DOM
14. 2026-03-12
    status Active 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

15. 2026-03-12
    status Active 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

16. 2026-02-11
    status Pending 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

17. 2026-02-11
    status Pending 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

18. 2026-01-13
    price $48,000 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

19. 2026-01-13
    price $48,000 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

20. 2025-12-03
    price $55,000 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

21. 2025-12-02
    price $55,000 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

22. 2025-09-29
    listed $62,000 Active 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

23. 2025-09-29
    listed $62,000 Active 287-char remark

    Show marketing remark (287 chars)

    SUPER CUTE East side brick bungalow. Hardwood floors. Windows and front roof are 4 years old. Garage and shed. Annnd Basement. Needs a bit of TLC, but is a solid house with a good yard. This affordable home is perfect for a first-time home owner or investor. Schedule your showing today!

24. 2023-10-29
    historical $900
25. 2023-09-11
    price $900
26. 2023-08-04
    price $975
27. 2020-07-09
    historical
28. 2020-07-09
    status Active
29. 2019-12-06
    status Pending
30. 2019-12-05
    status Pending
31. 2019-12-05
    historical
32. 2019-11-19
    listed $34,900 Active
33. 2019-11-19
    listed $34,900 Active
34. 2009-02-28
    historical
35. 2008-09-22
    listed $29,000
36. 2006-12-01
    historical
37. 2006-10-04
    listed $75,000
38. 2006-10-04
    listed $75,000
39. 2006-01-20
    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: $1,198 · $100/mo
• Projected year-2 tax: $1,198 · $100/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: $14,019
• − Mortgage interest: −$2,689
• − Property taxes: −$1,198
• − Insurance: −$240
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$1,396
• Taxable income: $6,253
• Est. tax owed @ 24.0%: −$1,501
• After-tax cash flow: $5,116/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

-36.0% since first listed

26 events — show timeline

• 2026-03-12 Relisted — MiRealSource-MiMLS
• 2026-03-12 Relisted — REALCOMP
• 2026-02-11 Pending — MiRealSource-MiMLS
• 2026-02-11 Pending — REALCOMP
• 2026-01-13 Price Changed $48,000 MiRealSource-MiMLS
• 2026-01-13 Price Changed $48,000 REALCOMP
• 2025-12-03 Price Changed $55,000 MiRealSource-MiMLS
• 2025-12-02 Price Changed $55,000 REALCOMP
• 2025-09-29 Listed $62,000 REALCOMP
• 2025-09-29 Listed $62,000 MiRealSource-MiMLS
• 2023-10-29 Rental Removed $900 APPFOLIO
• 2023-09-11 Price Changed $900 APPFOLIO
• 2023-08-04 Price Changed $975 APPFOLIO
• 2020-07-09 Listing Removed — REALCOMP
• 2020-07-09 Relisted — REALCOMP
• 2019-12-06 Pending — MiRealSource-MiMLS
• 2019-12-05 Pending — REALCOMP
• 2019-12-05 Listing Removed — MiRealSource-MiMLS
• 2019-11-19 Listed $34,900 MiRealSource-MiMLS
• 2019-11-19 Listed $34,900 REALCOMP
• 2009-02-28 Listing Removed — REALCOMP
• 2008-09-22 Listed $29,000 REALCOMP
• 2006-12-01 Listing Removed — REALCOMP
• 2006-10-04 Listed $75,000 MiRealSource-MiMLS
• 2006-10-04 Listed $75,000 REALCOMP
• 2006-01-20 Listing Removed — MiRealSource-MiMLS

Property tax history

-2.4%/yr

Latest (2025): $1,198 · -8.8% YoY. Source: county tax records.