12590 Wilshire Dr · Detroit, MI 48213

$139,900

4 bd · 2.0 ba · 2,052 sqft · SingleFamily public records · 96 Days on market

Built 1926 5,663 sqft lot Est $101k · 39% over

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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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• 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

Move-in ready 4-bedroom, 2-bath home located just minutes from Downtown Detroit. This spacious property features a functional layout, generous bedrooms, and updated finishes throughout. Perfect for a growing family or owner-occupant looking for city convenience with comfortable living. Close to major freeways, dining, entertainment, and all that Detroit has to offer.

Key facts

• Updated finishes
• Close to dining
• Functional layout

Tags

• MOVE IN READY
• FUNCTIONAL LAYOUT
• UPDATED FINISHES
• CLOSE TO MAJOR FREEWAYS
• CLOSE TO DINING
• CLOSE TO ENTERTAINMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% 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: 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,671/mo this rent would consume 59% 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $4k; list at $140k implies a 3398% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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: 1.19% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.44%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $100,548
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8791 E Outer Dr	0.18mi	3/1.5 (-1)	1,840 (-10%)	3mo	$60,000	$33	65
13324 Camden St	0.60mi	4/2.0	1,992 (-3%)	3mo	$40,000	$20	65
12086 Glenfield St	0.47mi	4/2.0	2,232 (+9%)	5mo	$110,000	$49	59
11864 Maiden St	0.54mi	4/3.0	1,969 (-4%)	6mo	$185,000	$94	59
12646 Longview St	0.15mi	3/1.5 (-1)	1,750 (-15%)	7mo	$73,750	$42	55
12057 Sanford St	0.72mi	4/2.5	2,184 (+6%)	2mo	$100,000	$46	52
12280 Wade St	0.44mi	4/2.0	1,750 (-15%)	8mo	$141,000	$81	48
9364 E Outer Dr	0.58mi	4/1.5	1,808 (-12%)	4mo	$150,000	$83	47
13361 Maiden St	0.54mi	4/3.0	1,786 (-13%)	4mo	$165,000	$92	46
12059 Kilbourne St	0.46mi	5/2.0 (+1)	1,810 (-12%)	15mo	$65,000	$36	41
9303 E Outer Dr	0.54mi	3/1.0 (-1)	1,813 (-12%)	13mo	$55,000	$30	36
14268 Corbett Ave	0.66mi	4/2.0	1,750 (-15%)	11mo	$100,000	$57	35

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: 3.5%
• Equity multiple: 1.13×
• Total profit: $5,247
• Equity at exit: $20,860

10-year hold

• IRR: 13.0%
• Equity multiple: 2.03×
• Total profit: $40,442
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$734
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $439

Break-even live

Break-even rent $1,116

Max offer price $139,900

Occupancy floor 69%

Sensitivity live

Price	-10% $518	-5% $478	+0% $439	+5% $399	+10% $360
Rent	-10% $307	-5% $373	+0% $439	+5% $505	+10% $571
Rate	-1.0pp $509	-0.5pp $474	base $439	+0.5pp $402	+1.0pp $366

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	25d	1	0.47mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	0.56mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	25d	1	0.58mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	0.79mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.14mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.22mi
18080 Westphalia St Detroit, MI	5.0	3.0	2131	$2,500	$1.17	45d	1	1.45mi

Listing history 17 events

1. 2026-04-27
   status Pending 369-char remark

   Show marketing remark (369 chars)

   Move-in ready 4-bedroom, 2-bath home located just minutes from Downtown Detroit. This spacious property features a functional layout, generous bedrooms, and updated finishes throughout. Perfect for a growing family or owner-occupant looking for city convenience with comfortable living. Close to major freeways, dining, entertainment, and all that Detroit has to offer.

2. 2026-04-27
   status Pending

   Show marketing remark (369 chars)

   Move-in ready 4-bedroom, 2-bath home located just minutes from Downtown Detroit. This spacious property features a functional layout, generous bedrooms, and updated finishes throughout. Perfect for a growing family or owner-occupant looking for city convenience with comfortable living. Close to major freeways, dining, entertainment, and all that Detroit has to offer.

3. 2026-01-21
   listed $139,900 Active 369-char remark

   Show marketing remark (369 chars)

   Move-in ready 4-bedroom, 2-bath home located just minutes from Downtown Detroit. This spacious property features a functional layout, generous bedrooms, and updated finishes throughout. Perfect for a growing family or owner-occupant looking for city convenience with comfortable living. Close to major freeways, dining, entertainment, and all that Detroit has to offer.

4. 2026-01-21
   listed $139,900 Active

   Show marketing remark (369 chars)

   Move-in ready 4-bedroom, 2-bath home located just minutes from Downtown Detroit. This spacious property features a functional layout, generous bedrooms, and updated finishes throughout. Perfect for a growing family or owner-occupant looking for city convenience with comfortable living. Close to major freeways, dining, entertainment, and all that Detroit has to offer.

5. 2009-05-22
   soldstatus $4,000 170-char remark

   Show marketing remark (170 chars)

   THIS 4 BEDROOM, 1 1/2 BATH PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPALREQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION INCLUDING SQ FT, TAXES, MEASUREMENTS.

6. 2009-05-22
   soldstatus $4,000

   Show marketing remark (170 chars)

   THIS 4 BEDROOM, 1 1/2 BATH PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPALREQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION INCLUDING SQ FT, TAXES, MEASUREMENTS.

7. 2009-04-27
   historical 170-char remark

   Show marketing remark (170 chars)

   THIS 4 BEDROOM, 1 1/2 BATH PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPALREQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION INCLUDING SQ FT, TAXES, MEASUREMENTS.

8. 2009-04-20
   listed $4,400 170-char remark

   Show marketing remark (170 chars)

   THIS 4 BEDROOM, 1 1/2 BATH PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPALREQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION INCLUDING SQ FT, TAXES, MEASUREMENTS.

9. 2009-04-17
   listed $4,400
10. 2008-08-28
    historical
11. 2008-08-15
    listed $7,000
12. 2008-04-18
    historical
13. 2007-09-19
    listed $53,455
14. 2004-01-06
    soldstatus $94,736
15. 2002-10-29
    soldstatus $32,000
16. 2002-08-30
    listed $26,900
17. 2001-10-15
    soldstatus $69,900

ⓘ 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: $1,076 · $90/mo
• Projected year-2 tax: $1,615 · $135/mo
• Expected delta: +$539/yr (+$45/mo · 50.1%)

ⓘ 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: $20,057
• − Mortgage interest: −$7,837
• − Property taxes: −$1,076
• − Insurance: −$700
• − Repairs & maintenance: −$1,605
• − Management: −$1,605
• − Depreciation: −$4,070
• Taxable income: $3,165
• Est. tax owed @ 24.0%: −$760
• After-tax cash flow: $4,505/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

+100.1% since first listed

17 events — show timeline

• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — REALCOMP
• 2026-01-21 Listed $139,900 REALCOMP
• 2026-01-21 Listed $139,900 MiRealSource-MiMLS
• 2009-05-22 Sold (MLS) $4,000 REALCOMP
• 2009-05-22 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2009-04-27 Listing Removed — MiRealSource-MiMLS
• 2009-04-20 Listed $4,400 MiRealSource-MiMLS
• 2009-04-17 Listed $4,400 REALCOMP
• 2008-08-28 Listing Removed — MiRealSource-MiMLS
• 2008-08-15 Listed $7,000 MiRealSource-MiMLS
• 2008-04-18 Listing Removed — MiRealSource-MiMLS
• 2007-09-19 Listed $53,455 MiRealSource-MiMLS
• 2004-01-06 Sold (Public Records) $94,736 Public Records
• 2002-10-29 Sold (MLS) $32,000 REALCOMP
• 2002-08-30 Listed $26,900 REALCOMP
• 2001-10-15 Sold (Public Records) $69,900 Public Records

Property tax history

-4.2%/yr

Latest (2025): $1,076 · -49.7% YoY. Source: county tax records.