4344 Springle St · Detroit, MI 48215

$115,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 20 Days on market

Built 1953

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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 +24.6/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• 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

Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

Key facts

• Updated flooring
• Updated countertops
• Newer lighting

Tags

• UPDATED FLOORING
• MODERNIZED KITCHEN CABINETRY
• UPDATED COUNTERTOPS
• NEWER LIGHTING
• CLEAN NEUTRAL INTERIOR

Property features AI

Exterior

• Home design: Built in 1953; Single-family property
• Construction: Constructed in 1953
• Exterior features: Lot of approximately 0.12 acres

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% 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: 137 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask is 44% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $53k; list at $115k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.84%
• DSCR: 1.39
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $61,360
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4194 Algonquin St	0.11mi	3/1.0	1,040 (0%)	5mo	$69,000	$66	91
4315 Algonquin St	0.09mi	3/1.0	1,040 (0%)	10mo	$59,500	$57	87
4133 Lenox St	0.22mi	3/1.0	968 (-7%)	5mo	$18,101	$19	74
3958 Lenox St	0.27mi	3/1.0	1,024 (-2%)	14mo	$60,000	$59	73
3964 Lenox St	0.27mi	2/1.0 (-1)	1,100 (+6%)	4mo	$55,000	$50	70
12544 E Canfield St	0.19mi	4/1.0 (+1)	1,083 (+4%)	16mo	$90,000	$83	66
4159 Springle St	0.13mi	3/1.0	917 (-12%)	14mo	$54,000	$59	62
4809 Maynard St	0.36mi	3/1.0	1,136 (+9%)	20mo	$45,000	$40	51
3416 Algonquin St	0.42mi	3/1.0	967 (-7%)	21mo	$90,000	$93	51
5069 Eastlawn St	0.56mi	3/1.0	1,101 (+6%)	22mo	$43,000	$39	46

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,542
• Equity at exit: $17,147

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $16,320
• Equity at exit: $9,943

Cash invested: $32,200 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$603
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $237

Break-even live

Break-even rent $944

Max offer price $115,000

Occupancy floor 76%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.89mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	0.90mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	44d	1	0.91mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	0.91mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	1.02mi
1367 Wayburn St Unit 1 Grosse Pointe Park, MI	3.0	1.0	816	$1,250	$1.53	44d	1	1.10mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	44d	1	1.11mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.12mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	24d	1	1.14mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.15mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	17d	1	1.15mi
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	1.16mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.22mi
1314 Maryland St Grosse Pointe Park, MI	2.0	1.0	1008	$1,250	$1.24	44d	1	1.22mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	3d	1	1.24mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	22d	1	1.24mi
3049 Montclair St Unit 1 Detroit, MI	2.0	1.0	850	$950	$1.12	44d	1	1.24mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	1.28mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.37mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.38mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	1.39mi
1236 Beaconsfield Ave Unit 1 Grosse Pointe Park, MI	2.0	1.0	1100	$1,600	$1.45	24d	1	1.40mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	1.41mi
1050 Lakewood St Unit 1S Detroit, MI	2.0	1.0	896	$1,100	$1.23	44d	1	1.41mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	44d	1	1.41mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.43mi
1312 Somerset Ave Grosse Pointe Park, MI	2.0	1.0	1200	$1,400	$1.17	17d	1	1.44mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.47mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.48mi
1042 Wayburn St Grosse Pointe Park, MI	3.0	1.0	1000	$1,575	$1.57	5d	1	1.48mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.50mi

Listing history 28 events

1. 2026-06-18
   days on market $115,000 Active 20 DOM
2. 2026-06-17
   days on market $115,000 Active 19 DOM
3. 2026-06-15
   days on market $115,000 Active 17 DOM
4. 2026-06-13
   days on market $115,000 Active 15 DOM
5. 2026-06-13
   days on market $115,000 Active 14 DOM
6. 2026-06-09
   days on market $115,000 Active 11 DOM
7. 2026-06-08
   days on market $115,000 Active 10 DOM
8. 2026-06-07
   days on market $115,000 Active 9 DOM
9. 2026-06-04
   days on market $115,000 Active 6 DOM
10. 2026-06-03
    days on market $115,000 Active 5 DOM
11. 2026-06-01
    days on market $115,000 Active 3 DOM
12. 2026-05-31
    days on market $115,000 Active 2 DOM
13. 2026-05-26
    listed $79,900 Active
14. 2025-04-03
    historical $1,090
15. 2025-04-01
    price $1,090
16. 2025-01-15
    price $1,125
17. 2025-01-01
    price $1,150
18. 2024-10-21
    listed $1,200
19. 2024-08-30
    soldstatus $53,000 Sold 423-char remark

    Show marketing remark (423 chars)

    Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

20. 2024-08-30
    soldstatus $53,000 Closed 423-char remark

    Show marketing remark (423 chars)

    Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

21. 2024-08-27
    status Pending 423-char remark

    Show marketing remark (423 chars)

    Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

22. 2024-08-27
    status Pending 423-char remark

    Show marketing remark (423 chars)

    Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

23. 2024-07-12
    listed $58,000 Active 423-char remark

    Show marketing remark (423 chars)

    Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

24. 2024-07-12
    listed $58,000 Active 423-char remark

    Show marketing remark (423 chars)

    Clean 3-bedroom home! Fresh paint, separate laundry room close to the bathroom, back patio and a huge backyard! This is the perfect starter home and price point for a first-time buyer that wants low maintenance! This property would also qualify for Detroit's $25,000.00 Downpayment Assistance Program. If you are an investor looking for a quick rental property that you can place someone in this is perfect for you as well.

25. 2022-05-20
    historical
26. 2022-05-20
    historical
27. 2022-05-06
    listed $77,000 Active
28. 2022-05-06
    listed $77,000 Active

ⓘ 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: $1,137 · $95/mo
• Projected year-2 tax: $1,454 · $121/mo
• Expected delta: +$317/yr (+$26/mo · 27.9%)

ⓘ 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: $14,930
• − Mortgage interest: −$6,442
• − Property taxes: −$1,137
• − Insurance: −$575
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$3,345
• Taxable income: $1,042
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $2,596/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

+3.8% since first listed

16 events — show timeline

• 2026-05-26 Listed $79,900 FSBO.com
• 2025-04-03 Rental Removed $1,090 APPFOLIO
• 2025-04-01 Price Changed $1,090 APPFOLIO
• 2025-01-15 Price Changed $1,125 APPFOLIO
• 2025-01-01 Price Changed $1,150 APPFOLIO
• 2024-10-21 Listed for Rent $1,200 APPFOLIO
• 2024-08-30 Sold (MLS) $53,000 MiRealSource-MiMLS
• 2024-08-30 Sold (MLS) $53,000 REALCOMP
• 2024-08-27 Pending — MiRealSource-MiMLS
• 2024-08-27 Pending — REALCOMP
• 2024-07-12 Listed $58,000 MiRealSource-MiMLS
• 2024-07-12 Listed $58,000 REALCOMP
• 2022-05-20 Listing Removed — REALCOMP
• 2022-05-20 Listing Removed — MiRealSource-MiMLS
• 2022-05-06 Listed $77,000 MiRealSource-MiMLS
• 2022-05-06 Listed $77,000 REALCOMP

Property tax history

+1.7%/yr

Latest (2025): $1,137 · +17.0% YoY. Source: county tax records.