12278 Longview St · Detroit, MI 48213

$47,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 71 Days on market

Built 1947 6,098 sqft lot $45/sqft · at area comps Est $49k · at est.

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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 +9.2/15.0
• 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

Investor's Special "“ Endless Potential in a Convenient Detroit Location! Opportunity awaits with this classic red brick bungalow full of character and ready for your vision. This property offers 3 bedrooms and 1.5 bathrooms with a traditional layout that provides a strong foundation for your next renovation or investment project. Inside, you'll find original hardwood floors that could be beautifully restored, along with a full basement offering plenty of storage and space for future improvements or added living area. With the right updates and repairs, this home has the potential to truly shine. Situated in a residential neighborhood near major freeways, the location offers excellent accessibility and strong rental or resale potential. This property is being sold as-is and will require TLC, updates, and repairs-perfect for investors, rehabbers, or buyers looking to build sweat equity. Bring your ideas and unlock the potential. (One or more photos have been artificially enhanced)

Key facts

• 6,098 sq ft lot
• Built 1947
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $44k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.8% 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; 29 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 $1,301/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 $325 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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: 2.77% ✓
• Cap rate: 24.85%
• Cash-on-cash: 66.26%
• DSCR: 3.95
• GRM: 3.0

CMA / ARV

• ARV (median comp): $48,860
• List price: $47,000
• Delta: -3.81%
• 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
8801 E Outer Dr	0.37mi	3/1.5	1,047 (+1%)	1mo	$40,000	$38	79
12561 Maiden St	0.22mi	3/1.0	963 (-7%)	1mo	$69,690	$72	76
8750 E Outer Dr	0.31mi	3/1.0	1,070 (+3%)	7mo	$102,000	$95	75
12104 Elmdale St	0.15mi	3/1.0	1,117 (+7%)	13mo	$40,000	$36	70
12541 Camden St	0.30mi	2/1.0 (-1)	1,014 (-2%)	9mo	$29,525	$29	69
12578 Camden St	0.34mi	3/1.0	1,123 (+8%)	9mo	$47,000	$42	63
12798 Corbett St	0.35mi	3/1.5	1,124 (+8%)	6mo	$75,000	$67	63
13001 Promenade St	0.46mi	3/1.0	1,124 (+8%)	6mo	$73,800	$66	60
12780 Evanston St	0.51mi	3/2.5	1,074 (+3%)	9mo	$17,500	$16	57
11151 Rosemary St	0.70mi	3/1.0	1,000 (-4%)	10mo	$29,900	$30	53
13136 Maiden St	0.56mi	4/1.0 (+1)	1,144 (+10%)	1mo	$10,000	$9	52
12527 Glenfield St	0.53mi	3/1.0	935 (-10%)	16mo	$22,000	$24	45

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: 65.5%
• Equity multiple: 3.94×
• Total profit: $38,672
• Equity at exit: $7,008

10-year hold

• IRR: 69.8%
• Equity multiple: 8.09×
• Total profit: $93,292
• Equity at exit: $4,064

Cash invested: $13,160 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$246
• Tax from tax record: −$35 /mo · $419/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $727

Break-even live

Break-even rent $381

Max offer price $47,000

Occupancy floor 39%

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 29 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	0.06mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	0.23mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.54mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	0.55mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	0.64mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	0.65mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.88mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.88mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.88mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.93mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.02mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	1.12mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	1.14mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	1.19mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	1.20mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.28mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.29mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	1.30mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.35mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	1.36mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.39mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	1.41mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.42mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.44mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.45mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	1.47mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	1.49mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	1.50mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	1.50mi

Listing history 16 events

1. 2026-06-18
   days on market $47,000 Active 71 DOM
2. 2026-06-17
   days on market $47,000 Active 70 DOM
3. 2026-06-15
   days on market $47,000 Active 68 DOM
4. 2026-06-13
   days on market $47,000 Active 66 DOM
5. 2026-06-13
   days on market $47,000 Active 65 DOM
6. 2026-06-09
   days on market $47,000 Active 62 DOM
7. 2026-06-08
   days on market $47,000 Active 61 DOM
8. 2026-06-07
   days on market $47,000 Active 60 DOM
9. 2026-06-04
   days on market $47,000 Active 57 DOM
10. 2026-06-03
    days on market $47,000 Active 56 DOM
11. 2026-06-02
    days on market $47,000 Active 55 DOM
12. 2026-06-02
    price $47,000 Active 54 DOM
13. 2026-06-01
    days on market $55,000 Active 54 DOM
14. 2026-05-31
    days on market $55,000 Active 53 DOM
15. 2026-04-08
    listed $55,000 Active 1005-char remark

    Show marketing remark (1005 chars)

    Investor's Special "“ Endless Potential in a Convenient Detroit Location! Opportunity awaits with this classic red brick bungalow full of character and ready for your vision. This property offers 3 bedrooms and 1.5 bathrooms with a traditional layout that provides a strong foundation for your next renovation or investment project. Inside, you'll find original hardwood floors that could be beautifully restored, along with a full basement offering plenty of storage and space for future improvements or added living area. With the right updates and repairs, this home has the potential to truly shine. Situated in a residential neighborhood near major freeways, the location offers excellent accessibility and strong rental or resale potential. This property is being sold as-is and will require TLC, updates, and repairs-perfect for investors, rehabbers, or buyers looking to build sweat equity. Bring your ideas and unlock the potential. (One or more photos have been artificially enhanced)

16. 2026-04-07
    listed $55,000 Active 1017-char remark

    Show marketing remark (1017 chars)

    Investor’s Special – Endless Potential in a Convenient Detroit Location! Opportunity awaits with this classic red brick bungalow full of character and ready for your vision. This property offers 3 bedrooms and 1.5 bathrooms with a traditional layout that provides a strong foundation for your next renovation or investment project. Inside, you’ll find original hardwood floors that could be beautifully restored, along with a full basement offering plenty of storage and space for future improvements or added living area. With the right updates and repairs, this home has the potential to truly shine. Situated in a residential neighborhood near major freeways, the location offers excellent accessibility and strong rental or resale potential. This property is being sold as-is and will require TLC, updates, and repairs—perfect for investors, rehabbers, or buyers looking to build sweat equity. Bring your ideas and unlock the potential. (One or more photos have been artificially enhanced)

ⓘ 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: $419 · $35/mo
• Projected year-2 tax: $571 · $48/mo
• Expected delta: +$152/yr (+$13/mo · 36.4%)

ⓘ 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 · 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: $15,610
• − Mortgage interest: −$2,633
• − Property taxes: −$419
• − Insurance: −$235
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$1,367
• Taxable income: $8,458
• Est. tax owed @ 24.0%: −$2,030
• After-tax cash flow: $6,690/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

+0.0% since first listed

2 events — show timeline

• 2026-04-08 Listed $55,000 REALCOMP
• 2026-04-07 Listed $55,000 MiRealSource-MiMLS

Property tax history

-9.3%/yr

Latest (2025): $419 · -52.1% YoY. Source: county tax records.