1933 #1 St Unit 11th Unit 1 · Detroit, MI 48216

$260,000

3 bd · 1.0 ba · 1,200 sqft · Condo · 156 Days on market

Built 1915 Good condition $217/sqft · 49% below area Est $513k · 49% under $1/mo HOA ↓ 26% 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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.7/10.0
• Rent growth +4.3/5.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Appreciation +2.7/10.0
• Schools +0.9/10.0

Listing remarks MLS

Discover your new home at 1933 11th Street in historic Corktown! Located in the heart of this vibrant neighborhood, you'll be steps from Michigan Avenue and just a short stroll from Ford Motor Company's new Mobility Headquarters. This beautiful 3 bedroom / 1 bath condo boasts original wood floors and unique character throughout its 1,200 square feet. Enjoy relaxing in your living room with views of downtown Detroit or sipping your morning coffee on your private patio. The open floor plan and abundance of natural light make this home perfect for entertaining or everyday living. An added bonus is the attic space, which can be converted into an additional bedroom, home office, artist studio, guest suite or recreation room – increasing the total square footage of your home. With its rich history and modern amenities, this condo has something for everyone. Important Notes: * Parcel has recently been split into two separate parcel ID's from original Duplex. * Lot Dimensions, Road Frontage Feet & Acres are TBD.

Key facts

• Open floor plan
• Attic space
• Private patio

Tags

• HISTORIC CORKTOWN
• VIEWS OF DOWNTOWN DETROIT
• PRIVATE PATIO
• OPEN FLOOR PLAN
• ABUNDANCE OF NATURAL LIGHT
• ATTIC SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $229k (12.0% 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: 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.
• Zoned schools: Burton International Academy (math 2% / reading 12%, grade F, #1,308 of 1,397 statewide, top 95%, 501 students, 85% FRL); Northwestern High School (math 10% / reading 10%, grade F, #659 of 713 statewide, top 97%, 358 students, 88% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: Rents rising fast (+7.3%/yr); 51 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• At $3,048/mo this rent would consume 82% of the median local household income ($44k/yr) — 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 $2k of loan paydown is wiped out by about $8k 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 + 7.3% rent growth), your $73k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $228,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.06%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (median comp): $513,385
• List price: $260,000
• Delta: -49.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4130 TRUMBULL St #2	1.17mi	2/2.0 (-1)	1,200 (0%)	0mo	$272,000	$227	56
1001 W Jefferson Ave Unit 7B Ave	1.24mi	2/2.0 (-1)	1,201 (+0%)	2mo	$320,000	$266	54
3670 UNIT 412 Woodward Ave	1.41mi	2/2.0 (-1)	1,180 (-2%)	2mo	$300,000	$254	52
525 W Lafayette Blvd Unit 12E	0.85mi	2/2.0 (-1)	1,238 (+3%)	2mo	$390,000	$315	50
4130 Trumbull St #1	1.17mi	2/2.0 (-1)	1,290 (+8%)	1mo	$270,000	$209	42
2644 John R St	1.33mi	2/2.0 (-1)	1,315 (+10%)	2mo	$450,000	$342	38
3435 Ruskin St	0.96mi	3/1.5	1,500 (+25%)	1mo	$235,000	$157	37
469 W Willis St #2	1.41mi	2/1.5 (-1)	1,046 (-13%)	0mo	$318,000	$304	36
469 W Willis St #3	1.41mi	2/1.5 (-1)	1,043 (-13%)	0mo	$280,000	$268	36
248 Mack Ave Apt #2 Rd	1.50mi	3/2.5	1,450 (+21%)	2mo	$500,000	$345	32
444 W Willis St Unit#89/205 St Unit 89/205	1.46mi	2/2.0 (-1)	1,439 (+20%)	1mo	$380,000	$264	30
444 W Willis St Unit#89/205 St	1.46mi	2/2.0 (-1)	1,439 (+20%)	1mo	$380,000	$264	30

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 · 7.3% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $10,534
• Equity at exit: $38,767

10-year hold

• IRR: 16.8%
• Equity multiple: 2.66×
• Total profit: $121,101
• Equity at exit: $22,480

Cash invested: $72,800 (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 48216

• Home prices YoY: -2.3%
• Rents YoY: 7.3%
• Active inventory: 51
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,048 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$1
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $610

Break-even live

Break-even rent $2,276

Max offer price $260,000

Occupancy floor 75%

Sensitivity live

Price	-10% $790	-5% $700	+0% $610	+5% $520	+10% $430
Rent	-10% $369	-5% $490	+0% $610	+5% $731	+10% $851
Rate	-1.0pp $741	-0.5pp $676	base $610	+0.5pp $543	+1.0pp $474

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: $65,000
• Closing costs: $7,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1611 Michigan Ave Detroit, MI	1.0–3.0	1.0–3.5	1589	$5,250	$3.30	7d	7	0.07mi
1567 Church St Detroit, MI	2.0	2.0	1001	$2,475	$2.47	7d	1	0.08mi
1640 Bagley St #13 Detroit, MI	2.0	2.5	1400	$4,250	$3.04	93d	1	0.11mi
1620 Michigan Ave Detroit, MI	2.0	1.0–2.0	1052	$3,500	$3.33	9d	1	0.13mi
2050 8th St Detroit, MI	1.0–2.0	1.0–2.0	1024	$2,750	$2.68	9d	1	0.22mi
2223 Wabash St Detroit, MI	2.0	2.0	1300	$2,800	$2.15	61d	1	0.29mi
2150 Bagley St Unit 14 Detroit, MI	2.0	2.5	1035	$2,850	$2.75	47d	1	0.31mi
2150 Bagley St Unit 7 Detroit, MI	2.0	2.5	973	$2,650	$2.72	47d	1	0.31mi
1324 Porter St Detroit, MI	1.0–2.0	1.0–2.0	1100	$3,750	$3.41	37d	28	0.34mi
2638 Rosa Parks Blvd Unit 6 Detroit, MI	2.0	1.0	700	$1,410	$2.01	38d	1	0.42mi
2732 Harrison St Detroit, MI	2.0	2.5	1320	$2,750	$2.08	93d	1	0.46mi
1443 16th St Detroit, MI	3.0	2.0	1356	$2,950	$2.18	21d	1	0.51mi
3143 Trumbull Unit 301 Detroit, MI	2.0	1.0	1000	$1,650	$1.65	71d	1	0.71mi
3309 14th St Detroit, MI	1.0–3.0	1.0–2.5	942	$2,230	$2.37	9d	11	0.80mi
1001 W Jefferson Ave Unit 300-22I Detroit, MI	2.0	2.0	1040	$2,000	$1.92	73d	1	0.82mi
525 W Lafayette Blvd Detroit, MI	2.0–3.0	2.0	1546	$4,250	$2.75	93d	3	0.83mi
525 W Lafayette Blvd Detroit, MI	2.0	1.0–2.0	1334	$3,238	$2.43	13d	3	0.83mi
525 W Lafayette Blvd Detroit, MI	1.0–2.0	1.0–2.0	1334	$4,250	$3.19	21d	5	0.83mi
150 Bagley St Detroit, MI	1.0–2.0	1.0–2.5	960	$4,100	$4.27	67d	1	0.90mi
415 Clifford St Detroit, MI	2.0	1.0	726	$1,925	$2.65	22d	10	0.90mi
321 W Lafayette Blvd Detroit, MI	1.0–2.0	1.0–2.0	798	$2,885	$3.62	9d	1	0.93mi
76 W Adams Ave Detroit, MI	1.0–2.0	1.0–2.0	881	$2,669	$3.03	9d	8	0.97mi
76 W Adams Ave Detroit, MI	1.0–2.0	1.0–2.0	881	$2,413	$2.74	42d	9	0.97mi
1215 Griswold St Detroit, MI	2.0–3.0	2.0	912	$2,420	$2.65	21d	2	1.00mi
1249 Griswold St Unit 0309 Detroit, MI	2.0	1.0	864	$1,999	$2.31	93d	1	1.00mi
1145 Griswold St Detroit, MI	2.0	2.0	956	$2,400	$2.51	42d	1	1.02mi
111 State St Unit 1024673P Detroit, MI	2.0	2.0	1291	$8,342	$6.46	73d	1	1.02mi
111 State St Unit 1024679P Detroit, MI	2.0	2.0	1248	$7,718	$6.18	61d	1	1.02mi
1133 Griswold St Detroit, MI	2.0	2.0	956	$2,400	$2.51	73d	1	1.04mi
35 W Grand River Ave Detroit, MI	1.0–2.0	1.0–1.5	757	$2,275	$3.00	21d	4	1.04mi
1212 Griswold St Unit 1024685P Detroit, MI	2.0	2.0	1291	$11,873	$9.20	73d	1	1.05mi
3930 Trumbull St Detroit, MI	2.0	1.0	900	$1,500	$1.67	31d	1	1.06mi
1150 Griswold St Detroit, MI	3.0	1.0–3.0	1539	$7,200	$4.68	10d	3	1.06mi
10 Witherell St Detroit, MI	2.0	1.0–2.0	770	$2,580	$3.35	10d	5	1.07mi
3531 2nd Ave Unit 1 Detroit, MI	2.0	1.5	1200	$1,950	$1.62	18d	1	1.10mi
3984 Commonwealth St Unit B Detroit, MI	3.0	2.0	1100	$2,300	$2.09	42d	1	1.11mi
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	66d	1	1.13mi
66 Winder St #458 Detroit, MI	2.0	2.0	1300	$2,600	$2.00	73d	1	1.14mi
14 Charlotte St Detroit, MI	1.0–2.0	1.0	680	$1,825	$2.68	93d	2	1.18mi
3998 15th St Unit 1 Detroit, MI	2.0	1.0	1200	$1,300	$1.08	93d	1	1.20mi

HOA detail $1/mo · $12/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-30
   days on market $260,000 Active 156 DOM
2. 2026-06-29
   days on market $260,000 Active 155 DOM
3. 2026-06-28
   days on market $260,000 Active 154 DOM
4. 2026-06-27
   days on market $260,000 Active 153 DOM
5. 2026-06-26
   days on market $260,000 Active 152 DOM
6. 2026-06-24
   days on market $260,000 Active 150 DOM
7. 2026-06-22
   days on market $260,000 Active 148 DOM
8. 2026-06-21
   days on market $260,000 Active 147 DOM
9. 2026-06-18
   days on market $260,000 Active 144 DOM
10. 2026-06-17
    days on market $260,000 Active 143 DOM
11. 2026-06-15
    days on market $260,000 Active 141 DOM
12. 2026-06-13
    days on market $260,000 Active 139 DOM
13. 2026-06-13
    days on market $260,000 Active 138 DOM
14. 2026-06-09
    days on market $260,000 Active 135 DOM
15. 2026-06-08
    days on market $260,000 Active 134 DOM
16. 2026-06-07
    days on market $260,000 Active 133 DOM
17. 2026-06-04
    days on market $260,000 Active 130 DOM
18. 2026-06-03
    days on market $260,000 Active 129 DOM
19. 2026-06-01
    days on market $260,000 Active 127 DOM
20. 2026-05-31
    days on market $260,000 Active 126 DOM
21. 2026-04-02
    price $275,000 1047-char remark

    Show marketing remark (1047 chars)

    Discover your new home at 1933 11th Street in historic Corktown! Located in the heart of this vibrant neighborhood, you'll be steps from Michigan Avenue and just a short stroll from Ford Motor Company's new Mobility Headquarters. This beautiful 3 bedroom / 1 bath condo boasts original wood floors and unique character throughout its 1,200 square feet. Enjoy relaxing in your living room with views of downtown Detroit or sipping your morning coffee on your private patio. The open floor plan and abundance of natural light make this home perfect for entertaining or everyday living. An added bonus is the attic space, which can be converted into an additional bedroom, home office, artist studio, guest suite or recreation room – increasing the total square footage of your home. With its rich history and modern amenities, this condo has something for everyone. Important Notes: * Parcel has recently been split into two separate parcel ID's from original Duplex. * Lot Dimensions, Road Frontage Feet & Acres are TBD.

22. 2026-01-25
    listed $295,000 Active 1047-char remark

    Show marketing remark (1047 chars)

    Discover your new home at 1933 11th Street in historic Corktown! Located in the heart of this vibrant neighborhood, you'll be steps from Michigan Avenue and just a short stroll from Ford Motor Company's new Mobility Headquarters. This beautiful 3 bedroom / 1 bath condo boasts original wood floors and unique character throughout its 1,200 square feet. Enjoy relaxing in your living room with views of downtown Detroit or sipping your morning coffee on your private patio. The open floor plan and abundance of natural light make this home perfect for entertaining or everyday living. An added bonus is the attic space, which can be converted into an additional bedroom, home office, artist studio, guest suite or recreation room – increasing the total square footage of your home. With its rich history and modern amenities, this condo has something for everyone. Important Notes: * Parcel has recently been split into two separate parcel ID's from original Duplex. * Lot Dimensions, Road Frontage Feet & Acres are TBD.

23. 2026-01-23
    historical
24. 2026-01-09
    price $295,000
25. 2025-07-30
    listed $300,000 Active
26. 2025-07-28
    historical
27. 2025-02-23
    listed $372,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $36,576
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,926
• − Management: −$2,926
• − HOA: −$12
• − Depreciation: −$7,564
• Taxable income: $3,384
• Est. tax owed @ 24.0%: −$812
• After-tax cash flow: $6,509/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $6,000–$18,000 screening

This 1933 condo in Corktown is in good condition with original wood floors and unique character. It offers a good balance of maintenance and updates that can further enhance its value.

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can enhance the curb appeal and make the home look more inviting. ↑
• Rental Clean the gutters — Clean gutters improve the home's appearance and reduce the risk of water damage, which is important for rental properties. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 9/100

Zoned Schools

Elementary Burton International Academy F MI #1,308/1,397 Nat'l #40,092/41,679 High Northwestern High School F MI #659/713 Nat'l #15,975/17,239

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

B Composite livability gradescore 73/100

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 · 1,675,273 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 5,865
• Household income: $44,335
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 1% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 37% White 32% Hispanic / Latino 24% Two or more races 10%
• Hispanic origin (detail): Mexican 18% Puerto Rican 2%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 15% Arabic 1%

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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: ▼ -4.60%
• Current HPI: 194.458
• Rent YoY: ▲ 7.30%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

-26.1% since first listed

7 events — show timeline

• 2026-04-02 Price Changed $275,000 MiRealSource-MiMLS
• 2026-01-25 Listed $295,000 MiRealSource-MiMLS
• 2026-01-23 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Price Changed $295,000 MiRealSource-MiMLS
• 2025-07-30 Listed $300,000 MiRealSource-MiMLS
• 2025-07-28 Listing Removed — MiRealSource-MiMLS
• 2025-02-23 Listed $372,000 MiRealSource-MiMLS