12610 Hamburg St · Detroit, MI 48205

$20,000

1 bd · 1.5 ba · 1,530 sqft · SingleFamily public records · 10 Days on market

Built 1924 3,920 sqft lot

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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 MLS

INVESTOR SPECIAL IN DETROIT! PRIME OPPORTUNITY MULTI-UNIT FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

Key facts

• 3,920 sq ft lot
• Built 1924
• Listed 9 days

Property features AI

Exterior

• Utilities: Water available; Public sewer
• Home design: Multi-family residential property; Two levels
• Construction: Brick and wood siding construction; Brick/mortar foundation; Built above grade with finished area of 1,593
• Exterior features: Private maintained road; Private road frontage; Pets allowed

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 47.0% 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: Rents rising (+1.3%/yr); 376 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% 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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $8k; list at $20k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,000

Questions for the listing agent

1. Built in 1924 — 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: 5.17% ✓
• Cap rate: 47.04%
• Cash-on-cash: 145.52%
• DSCR: 7.47
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $648,720
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13026 Houston Whittier St #8	0.49mi	2/2.0 (+1)	1,450 (-5%)	23mo	$615,000	$424	42

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: 7.84×
• Total profit: $38,316
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 15.70×
• Total profit: $82,335
• Equity at exit: $1,729

Cash invested: $5,600 (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: 376
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,035 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $679

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 29%

Sensitivity live

Price	-10% $693	-5% $686	+0% $679	+5% $672	+10% $665
Rent	-10% $597	-5% $638	+0% $679	+5% $720	+10% $761
Rate	-1.0pp $689	-0.5pp $684	base $679	+0.5pp $674	+1.0pp $669

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18457 Hoover St Unit 57 Detroit, MI	2.0	1.0	1950	$850	$0.44	16d	1	0.83mi

Listing history 12 events

1. 2026-06-21
   days on market $20,000 Active 10 DOM
2. 2026-06-18
   days on market $20,000 Active 7 DOM
3. 2026-06-17
   days on market $20,000 Active 6 DOM
4. 2026-06-16
   days on market $20,000 Active 5 DOM
5. 2026-06-15
   days on market $20,000 Active 4 DOM
6. 2026-06-13
   days on market $20,000 Active 2 DOM
7. 2026-06-13
   days on marketlisting id $20,000 Active 1 DOM
8. 2026-06-09
   days on market $20,000 Active 6 DOM
9. 2026-06-08
   days on market $20,000 Active 5 DOM
10. 2026-06-07
    days on market $20,000 Active 4 DOM
11. 2026-06-03
    remarks 281-char remark

    Show marketing remark (308 chars)

    INVESTOR SPECIAL IN DETROIT! PRIME OPPORTUNITY MULTI-UNIT FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

12. 2026-06-03
    listed $20,000 Active 1 DOM

    Show marketing remark (308 chars)

    INVESTOR SPECIAL IN DETROIT! PRIME OPPORTUNITY MULTI-UNIT FOR FIX & FLIP OR FIX & HOLD INVESTORS. WHETHER YOU'RE LOOKING TO CASH IN ON A QUICK FLIP OR BUILD LONG-TERM EQUITY, THIS ONE CHECKS ALL THE BOXES. TONS OF POTENTIAL – DON'T MISS OUT! MORE PHOTOS AVAILABLE UPON REQUEST.

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

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 · 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: $12,415
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$993
• − Management: −$993
• − Depreciation: −$582
• Taxable income: $8,326
• Est. tax owed @ 24.0%: −$1,998
• After-tax cash flow: $6,151/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

+150.0% since first listed

5 events — show timeline

• 2026-06-03 Listed $20,000 REALCOMP
• 2026-06-03 Listed $20,000 MiRealSource-MiMLS
• 2005-04-06 Sold (MLS) $8,000 MiRealSource-MiMLS
• 2005-03-14 Listing Removed — MiRealSource-MiMLS
• 2004-09-22 Listed $8,000 MiRealSource-MiMLS

Property tax history

+17.1%/yr

Latest (2025): $1,360 · +466.5% YoY. Source: county tax records.