12058 Montrose St · Detroit, MI 48227

$50,000

2 bd · 1.0 ba · 1,223 sqft · SingleFamily public records · 212 Days on market

Built 1929 4,356 sqft lot $41/sqft · at area comps Est $47k · 6% over

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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 +4.6/15.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

Key facts

• New furnace
• New fence installed
• New water tank

Tags

• NEW WATER TANK
• NEW FURNACE
• DETACHED GARAGE
• NEW FENCE INSTALLED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.7% 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 fast (+5.6%/yr); 385 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 43% of the median local income ($37k/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 $346 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 + 5.6% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 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 1929 — 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: 2.60% ✓
• Cap rate: 22.68%
• Cash-on-cash: 58.53%
• DSCR: 3.60
• GRM: 3.2

CMA / ARV

• ARV (median comp): $47,009
• List price: $50,000
• Delta: 6.36%
• 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
11713 Asbury Park	0.41mi	3/1.5 (+1)	1,220 (-0%)	4mo	$70,000	$57	70
9987 Winthrop St	0.45mi	3/1.5 (+1)	1,218 (-0%)	5mo	$40,000	$33	67
13215 Prest St	0.60mi	3/1.0 (+1)	1,160 (-5%)	0mo	$100,000	$86	58
9930 Whitcomb St	0.55mi	3/1.0 (+1)	1,078 (-12%)	2mo	$35,000	$32	48
11375 Grandmont Ave	0.60mi	3/1.0 (+1)	1,083 (-11%)	0mo	$104,000	$96	48
9909 Asbury Park	0.66mi	3/1.0 (+1)	1,095 (-10%)	1mo	$95,000	$87	46
9606 Whitcomb St	0.65mi	2/1.0	1,400 (+14%)	2mo	$64,000	$46	44
12699 Woodmont Ave	0.61mi	3/1.0 (+1)	1,054 (-14%)	1mo	$64,000	$61	42
9599 Whitcomb St	0.64mi	3/1.0 (+1)	1,060 (-13%)	1mo	$55,000	$52	42
13599 Winthrop St	0.73mi	3/1.5 (+1)	1,089 (-11%)	2mo	$145,000	$133	39
9606 Sussex St	0.67mi	3/2.0 (+1)	1,060 (-13%)	4mo	$76,000	$72	35
13209 Terry St	0.72mi	3/1.5 (+1)	1,044 (-15%)	2mo	$54,500	$52	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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 60.1%
• Equity multiple: 3.78×
• Total profit: $38,886
• Equity at exit: $7,455

10-year hold

• IRR: 65.6%
• Equity multiple: 8.50×
• Total profit: $104,998
• Equity at exit: $4,323

Cash invested: $14,000 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$262
• Tax from tax record: −$63 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $683

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 43%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	22d	1	0.04mi
11641 Mansfield St Unit 2 Detroit, MI	3.0	1.0	1449	$1,300	$0.90	43d	1	0.27mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	16d	1	0.35mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	24d	1	0.36mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	12d	1	0.37mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	16d	1	0.37mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	43d	1	0.47mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	43d	1	0.49mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	24d	1	0.50mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	16d	1	0.52mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	0.59mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	43d	1	0.61mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	16d	1	0.61mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.65mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	43d	1	0.69mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	43d	1	0.70mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	16d	1	0.71mi
12611 Memorial St Unit 629104 Detroit, MI	1.0	1.0	700	$995	$1.42	43d	1	0.72mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	43d	1	0.75mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	0.83mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	43d	1	0.86mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	1d	1	0.88mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	43d	1	0.88mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	0.89mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	43d	1	0.89mi
9220 Mansfield St Detroit, MI	3.0	1.0	1200	$1,300	$1.08	43d	1	0.92mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	16d	1	0.93mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	1.00mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	1.07mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	1.11mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	43d	1	1.13mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	43d	1	1.14mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	1.14mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	1.22mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.25mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	1.27mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	1.28mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	16d	1	1.31mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	20d	1	1.32mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	1.32mi

Listing history 24 events

1. 2026-06-18
   days on market $50,000 Active 212 DOM
2. 2026-06-17
   days on market $50,000 Active 211 DOM
3. 2026-06-15
   days on market $50,000 Active 209 DOM
4. 2026-06-13
   days on market $50,000 Active 207 DOM
5. 2026-06-13
   days on market $50,000 Active 206 DOM
6. 2026-06-09
   days on market $50,000 Active 203 DOM
7. 2026-06-08
   days on market $50,000 Active 202 DOM
8. 2026-06-07
   days on market $50,000 Active 201 DOM
9. 2026-06-04
   days on market $50,000 Active 198 DOM
10. 2026-06-03
    days on market $50,000 Active 197 DOM
11. 2026-06-01
    days on market $50,000 Active 195 DOM
12. 2026-05-31
    days on market $50,000 Active 194 DOM
13. 2026-05-20
    price $60,000 761-char remark

    Show marketing remark (763 chars)

    This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

14. 2026-05-20
    price $60,000 763-char remark

    Show marketing remark (763 chars)

    This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

15. 2026-01-25
    price $65,000 761-char remark

    Show marketing remark (761 chars)

    This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

16. 2026-01-24
    price $65,000 763-char remark

    Show marketing remark (763 chars)

    This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

17. 2025-11-13
    listed $70,000 Active 761-char remark

    Show marketing remark (763 chars)

    This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

18. 2025-11-13
    listed $70,000 Active 763-char remark

    Show marketing remark (763 chars)

    This home in a first time buyer or Investor Special !!! Immediate possession!!! tenant is month to month and prepared to leave upon sale or willing to lease. This 2 bedroom colonial does need a little work and or updates but it is move in ready. New water tank and furnace recently installed. 2 car detached garage. Home and garage roof needs repair or replaced. Seller owns property (vacant land) next to both sides of the house on south and north lots which is also included with sale. A new fence in south side of house was installed by seller. Excellent Fix & stay, rent or flip. Being sold AS IS. BATVAI. Do not approach home without an approved showing through a real estate agent. Michigan licensed real estate agent MUST be present during showing!

19. 2007-03-13
    soldstatus $74,000
20. 2006-03-01
    soldstatus $26,000
21. 2005-07-13
    listed $32,900
22. 2004-08-18
    soldstatus $79,200
23. 2002-07-19
    soldstatus $72,000
24. 2001-05-21
    soldstatus $25,000

ⓘ 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: $750 · $63/mo
• Projected year-2 tax: $760 · $63/mo
• Expected delta: +$10/yr (+$1/mo · 1.3%)

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 14 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: $15,621
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$1,455
• Taxable income: $7,866
• Est. tax owed @ 24.0%: −$1,888
• After-tax cash flow: $6,306/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

+140.0% since first listed

12 events — show timeline

• 2026-05-20 Price Changed $60,000 MiRealSource-MiMLS
• 2026-05-20 Price Changed $60,000 REALCOMP
• 2026-01-25 Price Changed $65,000 MiRealSource-MiMLS
• 2026-01-24 Price Changed $65,000 REALCOMP
• 2025-11-13 Listed $70,000 REALCOMP
• 2025-11-13 Listed $70,000 MiRealSource-MiMLS
• 2007-03-13 Sold (Public Records) $74,000 Public Records
• 2006-03-01 Sold (MLS) $26,000 REALCOMP
• 2005-07-13 Listed $32,900 REALCOMP
• 2004-08-18 Sold (Public Records) $79,200 Public Records
• 2002-07-19 Sold (Public Records) $72,000 Public Records
• 2001-05-21 Sold (Public Records) $25,000 Public Records

Property tax history

-6.1%/yr

Latest (2025): $750 · -53.3% YoY. Source: county tax records.