11053 Christy St · Detroit, MI 48205

$15,000

3 bd · 1.0 ba · 1,366 sqft · SingleFamily public records · 17 Days on market

Built 1928

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Own It Now: Please visit buildingdetroit.org and search for property address to view full listing details. This is sold through the Detroit Land Bank Authority& apos; s Own It Now program. Sale period begins on June 21, 2021 and will be for sale until an offer is received, or its sale period expires. Sale dates are subject to change. If you have any questions, please call 313-974-6869. PUBLIC NOTICE PROPERTY OWNED BY THE DETROIT LAND BANK AUTHORITY IS NOT OPEN TO THE PUBLIC. ACCESS TO OR ENTRANCE UPON SUCH PROPERTY WITHOUT THE WRITTEN CONSENT OF THE DETROIT LAND BANK AUTHORITY CONSTITUTES TRESPASS AND IS A VIOLATION OF MICHIGAN LAW. TRESPASSERS MAY BE SUBJECT TO CIVIL AND CRIMINAL PEN

Key facts

• Built 1928
• Listed 17 days

Property features AI

Exterior

• Home design: Built in 1928
• Construction: Original construction from 1928
• Exterior features: Located in the Gratiot-Findlay subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $956 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.
• Cap rate 82.7% vs local median 10.2% 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); 373 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $104 of loan paydown is wiped out by about $450 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,775 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 8.95% ✓
• Cap rate: 82.74%
• Cash-on-cash: 273.01%
• DSCR: 13.15
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $86,058
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11785 Nashville St	0.47mi	3/1.5	1,360 (-0%)	4mo	$55,000	$40	72
11226 Minden St	0.07mi	3/1.5	1,169 (-14%)	3mo	$49,000	$42	68
11409 College St	0.21mi	3/1.0	1,215 (-11%)	9mo	$85,000	$70	64
11860 College St	0.51mi	3/1.5	1,395 (+2%)	9mo	$71,000	$51	63
17175 Albion St	0.59mi	3/1.5	1,350 (-1%)	8mo	$113,000	$84	62
11234 Kenmoor St	0.29mi	3/2.0	1,200 (-12%)	0mo	$75,300	$63	62
11461 Engleside St	0.33mi	3/1.0	1,200 (-12%)	5mo	$75,000	$63	60
11090 Patrick Ave	0.27mi	3/2.0	1,180 (-14%)	3mo	$55,000	$47	58
11833 Wilfred St	0.58mi	4/1.5 (+1)	1,340 (-2%)	7mo	$100,000	$75	56
11543 Saint Patrick St	0.37mi	3/1.0	1,203 (-12%)	9mo	$125,000	$104	55
17170 Bradford Ave	0.73mi	3/1.0	1,450 (+6%)	7mo	$27,000	$19	50
11867 Engleside St	0.57mi	3/1.0	1,500 (+10%)	9mo	$60,000	$40	50

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: —
• Equity multiple: 14.39×
• Total profit: $56,231
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 29.24×
• Total profit: $118,612
• Equity at exit: $1,297

Cash invested: $4,200 (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: 0.9×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$79
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $956

Break-even live

Break-even rent $133

Max offer price $15,000

Occupancy floor 24%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	0.31mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	0.41mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	0.43mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	0.46mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	43d	1	0.54mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	0.58mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.66mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.66mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	0.66mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	0.76mi
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	16d	1	0.97mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	0.99mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	43d	1	1.00mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	1.00mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.09mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	1.11mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	1.11mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	2d	1	1.14mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	1.20mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.31mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	1.33mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	1.33mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	43d	1	1.40mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	1.42mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	1.46mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	1.46mi

Listing history 10 events

1. 2026-06-15
   days on market $15,000 Active 17 DOM
2. 2026-06-13
   days on market $15,000 Active 15 DOM
3. 2026-06-13
   days on market $15,000 Active 14 DOM
4. 2026-06-09
   days on market $15,000 Active 11 DOM
5. 2026-06-08
   days on market $15,000 Active 10 DOM
6. 2026-06-07
   days on market $15,000 Active 9 DOM
7. 2026-06-04
   days on market $15,000 Active 6 DOM
8. 2026-06-03
   days on market $15,000 Active 5 DOM
9. 2026-06-01
   days on market $15,000 Active 3 DOM
10. 2026-05-31
    days on market $15,000 Active 2 DOM

ⓘ 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: $240 · $20/mo
• Projected year-2 tax: $240 · $20/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: $16,108
• − Mortgage interest: −$840
• − Property taxes: −$240
• − Insurance: −$75
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$436
• Taxable income: $11,939
• Est. tax owed @ 24.0%: −$2,865
• After-tax cash flow: $8,601/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

-77.2% since first listed

25 events — show timeline

• 2026-05-30 Listed $15,000 FSBO.com
• 2009-12-18 Listing Removed — REALCOMP
• 2009-12-18 Listing Removed — MiRealSource-MiMLS
• 2009-10-01 Listing Removed — REALCOMP
• 2009-10-01 Listing Removed — MiRealSource-MiMLS
• 2009-10-01 Listed $27,900 REALCOMP
• 2009-10-01 Listed $27,900 MiRealSource-MiMLS
• 2009-03-20 Listing Removed — MiRealSource-MiMLS
• 2009-03-20 Listing Removed — REALCOMP
• 2009-03-20 Listed $27,900 REALCOMP
• 2009-03-20 Listed $27,900 MiRealSource-MiMLS
• 2008-12-13 Listing Removed — REALCOMP
• 2008-11-04 Listing Removed — MiRealSource-MiMLS
• 2008-06-13 Listed $39,900 REALCOMP
• 2008-04-28 Listing Removed — REALCOMP
• 2007-03-05 Listed $39,900 REALCOMP
• 2007-02-07 Listing Removed — REALCOMP
• 2006-08-19 Listed $39,900 MiRealSource-MiMLS
• 2006-08-19 Listed $39,900 MiRealSource-MiMLS
• 2006-08-19 Listed $39,900 REALCOMP
• 2006-08-07 Listed $55,000 REALCOMP
• 2005-05-27 Sold (MLS) $58,000 REALCOMP
• 2005-01-31 Listed $68,000 REALCOMP
• 2004-11-09 Listing Removed — MiRealSource-MiMLS
• 2004-07-09 Listed $65,900 MiRealSource-MiMLS

Property tax history

+0.0%/yr

Latest (2017): $240 · +0.0% YoY. Source: county tax records.