11744 Wade St · Detroit, MI 48213

$58,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 56 Days on market

Built 1925 3,920 sqft lot $55/sqft · 21% above area Est $48k · 21% over ↓ 6% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3 bed 1 bathroom bungalow with a classic curb appeal and plenty of potential. This home has a welcoming front porch and a spacious upper level that adds to is character and functionality. With large front windows bringing in tons of natural light and a layout full of opportunity. This home is perfect for a first-time home buyer or an investor. Home is being sold as-is. Seller is eager.

Key facts

• 3,920 sq ft lot
• Built 1925
• Listed 56 days

Property features AI

Exterior

• Parking: Driveway; no garage
• Utilities: Water available; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 116.27)

Interior

• Bedrooms: Total of 5 rooms (bedrooms and living spaces combined)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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: 190 active listings in the ZIP; 22 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).
• At $1,312/mo this rent would consume 46% of the median local household income ($34k/yr) (locally 1202% of renters already pay >50% of income on rent) — 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 $401 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 + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $7k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,260 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.26% ✓
• Cap rate: 19.44%
• Cash-on-cash: 46.96%
• DSCR: 3.09
• GRM: 3.7

CMA / ARV

• ARV (median comp): $47,785
• List price: $58,000
• Delta: 21.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12104 Elmdale St	0.29mi	3/1.0	1,117 (+6%)	13mo	$40,000	$36	66
12561 Maiden St	0.52mi	3/1.0	963 (-9%)	1mo	$69,690	$72	60
8750 E Outer Dr	0.73mi	3/1.0	1,070 (+1%)	7mo	$102,000	$95	58
12541 Camden St	0.49mi	2/1.0 (-1)	1,014 (-4%)	9mo	$29,525	$29	58
12578 Camden St	0.53mi	3/1.0	1,123 (+6%)	9mo	$47,000	$42	57
12780 Evanston St	0.69mi	3/2.5	1,074 (+2%)	9mo	$17,500	$16	52
11151 Rosemary St	0.69mi	3/1.0	1,000 (-5%)	10mo	$29,900	$30	51
12798 Corbett St	0.70mi	3/1.5	1,124 (+6%)	6mo	$75,000	$67	49
11091 Wilshire Dr	0.43mi	2/1.5 (-1)	1,205 (+14%)	3mo	$15,000	$12	47
12534 Evanston St	0.50mi	3/1.0	960 (-9%)	21mo	$65,000	$68	44
12623 Wade St	0.56mi	3/1.0	948 (-10%)	22mo	$30,000	$32	38
12521 Chelsea St	0.58mi	2/1.0 (-1)	953 (-10%)	18mo	$27,000	$28	37

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: 44.3%
• Equity multiple: 2.91×
• Total profit: $31,098
• Equity at exit: $8,648

10-year hold

• IRR: 50.3%
• Equity multiple: 5.88×
• Total profit: $79,280
• Equity at exit: $5,015

Cash invested: $16,240 (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 48213

• Active inventory: 190
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,312 high
• Mortgage (P&I): −$304
• Tax est. 1.5%: −$72 /mo · $870/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $636

Break-even live

Break-even rent $507

Max offer price $58,000

Occupancy floor 47%

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	0.41mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	0.48mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	0.79mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.92mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	0.93mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.01mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	1.05mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	1.09mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	1.17mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.17mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	1.21mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	1.21mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	1.25mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.27mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.29mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	1.30mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.31mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	1.33mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	1.36mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	1.40mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	43d	1	1.40mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	1.40mi

Listing history 29 events

1. 2026-06-18
   days on market $58,000 Active 56 DOM
2. 2026-06-17
   days on market $58,000 Active 55 DOM
3. 2026-06-15
   days on market $58,000 Active 53 DOM
4. 2026-06-13
   days on market $58,000 Active 51 DOM
5. 2026-06-13
   days on market $58,000 Active 50 DOM
6. 2026-06-09
   days on market $58,000 Active 47 DOM
7. 2026-06-08
   days on market $58,000 Active 46 DOM
8. 2026-06-07
   days on market $58,000 Active 45 DOM
9. 2026-06-04
   days on market $58,000 Active 42 DOM
10. 2026-06-03
    days on market $58,000 Active 41 DOM
11. 2026-06-02
    days on market $58,000 Active 40 DOM
12. 2026-06-01
    days on market $58,000 Active 39 DOM
13. 2026-05-31
    days on market $58,000 Active 38 DOM
14. 2026-05-01
    price $58,000 413-char remark

    Show marketing remark (413 chars)

    Welcome to this charming 3 bed 1 bathroom bungalow with a classic curb appeal and plenty of potential. This home has a welcoming front porch and a spacious upper level that adds to is character and functionality. With large front windows bringing in tons of natural light and a layout full of opportunity. This home is perfect for a first-time home buyer or an investor. Home is being sold as-is. Seller is eager.

15. 2026-04-30
    price $58,000 413-char remark
16. 2026-04-24
    listed $65,000 Active 413-char remark

    Show marketing remark (413 chars)

    Welcome to this charming 3 bed 1 bathroom bungalow with a classic curb appeal and plenty of potential. This home has a welcoming front porch and a spacious upper level that adds to is character and functionality. With large front windows bringing in tons of natural light and a layout full of opportunity. This home is perfect for a first-time home buyer or an investor. Home is being sold as-is. Seller is eager.

17. 2026-04-24
    listed $65,000 Active 413-char remark

    Show marketing remark (413 chars)

    Welcome to this charming 3 bed 1 bathroom bungalow with a classic curb appeal and plenty of potential. This home has a welcoming front porch and a spacious upper level that adds to is character and functionality. With large front windows bringing in tons of natural light and a layout full of opportunity. This home is perfect for a first-time home buyer or an investor. Home is being sold as-is. Seller is eager.

18. 2026-04-23
    historical $65,000 413-char remark

    Show marketing remark (413 chars)

    Welcome to this charming 3 bed 1 bathroom bungalow with a classic curb appeal and plenty of potential. This home has a welcoming front porch and a spacious upper level that adds to is character and functionality. With large front windows bringing in tons of natural light and a layout full of opportunity. This home is perfect for a first-time home buyer or an investor. Home is being sold as-is. Seller is eager.

19. 2024-10-30
    soldstatus $55,000
20. 2024-10-04
    soldstatus $55,000 Sold

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

21. 2024-10-04
    soldstatus $55,000 Closed

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

22. 2024-08-16
    status Pending

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

23. 2024-08-16
    status Pending

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

24. 2024-07-31
    price $57,000

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

25. 2024-07-31
    price $57,000

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

26. 2024-06-26
    listed $59,000 Active

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

27. 2024-06-26
    listed $59,000 Active

    Show marketing remark (217 chars)

    Charming bungalow available! Very well maintained, ready to move in! It's a great house with 3be/1 bath in a good location. Don't miss the opportunity to call this place home! Schedule your visit through showing time.

28. 2022-04-18
    price $850
29. 2021-11-16
    soldstatus $62,000

ⓘ 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 · 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: $15,742
• − Mortgage interest: −$3,249
• − Property taxes: −$870
• − Insurance: −$290
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$1,687
• Taxable income: $7,127
• Est. tax owed @ 24.0%: −$1,710
• After-tax cash flow: $5,916/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

-6.5% since first listed

16 events — show timeline

• 2026-05-01 Price Changed $58,000 MiRealSource-MiMLS
• 2026-04-30 Price Changed $58,000 REALCOMP
• 2026-04-24 Listed $65,000 MiRealSource-MiMLS
• 2026-04-24 Listed $65,000 REALCOMP
• 2026-04-23 Coming Soon $65,000 MiRealSource-MiMLS
• 2024-10-30 Sold (Public Records) $55,000 Public Records
• 2024-10-04 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2024-10-04 Sold (MLS) $55,000 REALCOMP
• 2024-08-16 Pending — MiRealSource-MiMLS
• 2024-08-16 Pending — REALCOMP
• 2024-07-31 Price Changed $57,000 MiRealSource-MiMLS
• 2024-07-31 Price Changed $57,000 REALCOMP
• 2024-06-26 Listed $59,000 MiRealSource-MiMLS
• 2024-06-26 Listed $59,000 REALCOMP
• 2022-04-18 Price Changed $850 RENT.
• 2021-11-16 Sold (Public Records) $62,000 Public Records

Property tax history

+18.2%/yr

Latest (2025): $3,710 · +202.2% YoY. Source: county tax records.