12740 Griggs St · Detroit, MI 48238

$34,900

3 bd · 1.5 ba · 1,588 sqft · SingleFamily public records · 18 Days on market

Built 1925 3,920 sqft lot Est $65k · 46% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity. Needs rehab, some work has started. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

Key facts

• 3,920 sq ft lot
• Built 1925
• Listed 18 days

Property features AI

Finance

• Other: Lot approximately 0.09 acres (40 x 101); Road frontage on interstate/highway; Subdivision: GLENDALE COURTS
• Financial info: Residential property (single family)

Exterior

• Parking: Driveway, no garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; One and one-half stories; Ground-level entry with steps; Vinyl siding
• Construction: Asphalt roof; Block foundation; Built with vinyl siding
• Exterior features: Covered porch

Interior

• Kitchen: Gas water heater
• Bedrooms: 5 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: High speed internet; Full unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $779 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 33.1% vs local median 10.0% 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 fast (+6.1%/yr); 350 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1,265/mo this rent would consume 46% of the median local household income ($33k/yr) (locally 2172% 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 $241 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 + 6.1% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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.

Risks & watch-outs

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

Recommended offer $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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.
6. 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.
7. 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: 3.62% ✓
• Cap rate: 33.07%
• Cash-on-cash: 95.65%
• DSCR: 5.26
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $65,108
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12795 Ilene St	0.06mi	3/1.5	1,753 (+10%)	7mo	$148,900	$85	74
13176 Manor St	0.31mi	3/1.5	1,478 (-7%)	2mo	$60,500	$41	73
12629 Washburn St	0.13mi	3/1.0	1,392 (-12%)	7mo	$75,000	$54	65
13546 Ilene St	0.29mi	3/1.0	1,440 (-9%)	6mo	$32,000	$22	64
12162 Kentucky St	0.36mi	3/1.0	1,415 (-11%)	4mo	$42,000	$30	59
12303 Cloverlawn St	0.56mi	3/1.5	1,454 (-8%)	4mo	$58,500	$40	56
12706 Pinehurst St	0.17mi	4/1.5 (+1)	1,365 (-14%)	9mo	$37,000	$27	56
13609 Cloverlawn St	0.61mi	3/1.0	1,700 (+7%)	4mo	$45,000	$26	54
12351 Cherrylawn St	0.44mi	3/1.0	1,418 (-11%)	8mo	$109,500	$77	53
13955 Ohio St	0.57mi	3/1.0	1,448 (-9%)	5mo	$37,000	$26	53
11931 Wisconsin St	0.47mi	3/3.0	1,407 (-11%)	5mo	$135,900	$97	49
13606 Northlawn St	0.59mi	4/2.0 (+1)	1,790 (+13%)	8mo	$104,999	$59	38

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.92×
• Total profit: $48,081
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 13.67×
• Total profit: $123,811
• Equity at exit: $3,018

Cash invested: $9,772 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 350
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,265 high
• Mortgage (P&I): −$183
• Tax from tax record: −$23 /mo · $272/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $779

Break-even live

Break-even rent $279

Max offer price $34,900

Occupancy floor 33%

Sensitivity live

Price	-10% $799	-5% $789	+0% $779	+5% $769	+10% $759
Rent	-10% $679	-5% $729	+0% $779	+5% $829	+10% $879
Rate	-1.0pp $796	-0.5pp $788	base $779	+0.5pp $770	+1.0pp $761

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	26d	1	0.11mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	26d	1	0.23mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	45d	1	0.23mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.37mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	6d	1	0.40mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	45d	1	0.45mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	22d	1	0.46mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	19d	1	0.46mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	45d	1	0.58mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	22d	1	0.61mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	0.75mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	19d	1	0.75mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	3d	1	0.75mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	14d	1	0.88mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	45d	1	0.90mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	0.92mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	45d	1	1.08mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	23d	1	1.09mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	26d	1	1.10mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	18d	1	1.24mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	6d	1	1.28mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	45d	1	1.30mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	45d	1	1.31mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.33mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	6d	1	1.35mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	46d	1	1.36mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	45d	1	1.39mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	45d	1	1.42mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	23d	1	1.44mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	1.44mi

Listing history 12 events

1. 2026-06-21
   days on market $34,900 Active 18 DOM
2. 2026-06-18
   days on market $34,900 Active 15 DOM
3. 2026-06-17
   days on market $34,900 Active 14 DOM
4. 2026-06-16
   days on market $34,900 Active 13 DOM
5. 2026-06-15
   days on market $34,900 Active 12 DOM
6. 2026-06-13
   days on market $34,900 Active 10 DOM
7. 2026-06-13
   days on market $34,900 Active 9 DOM
8. 2026-06-09
   days on market $34,900 Active 6 DOM
9. 2026-06-08
   days on market $34,900 Active 5 DOM
10. 2026-06-07
    days on market $34,900 Active 4 DOM
11. 2026-06-04
    remarks 200-char remark
12. 2026-06-04
    listed $34,900 Active 1 DOM

ⓘ 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: $272 · $23/mo
• Projected year-2 tax: $405 · $34/mo
• Expected delta: +$133/yr (+$11/mo · 48.9%)

ⓘ 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 ≥97°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: $15,176
• − Mortgage interest: −$1,955
• − Property taxes: −$272
• − Insurance: −$174
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$1,015
• Taxable income: $9,332
• Est. tax owed @ 24.0%: −$2,240
• After-tax cash flow: $7,107/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+252.5% since first listed

12 events — show timeline

• 2026-06-03 Listed $34,900 REALCOMP
• 2026-06-03 Listed $34,900 MiRealSource-MiMLS
• 2024-10-17 Listing Removed — MiRealSource-MiMLS
• 2024-10-17 Listing Removed — REALCOMP
• 2024-08-30 Listed $29,900 MiRealSource-MiMLS
• 2024-08-30 Listed $29,900 REALCOMP
• 2019-01-03 Sold (Public Records) $420,000 Public Records
• 2007-06-05 Sold (MLS) $9,900 MiRealSource-MiMLS
• 2007-06-05 Sold (MLS) $9,900 REALCOMP
• 2007-03-29 Listing Removed — MiRealSource-MiMLS
• 2007-03-12 Listed $9,900 MiRealSource-MiMLS
• 2007-03-12 Listed $9,900 REALCOMP

Property tax history

-9.2%/yr

Latest (2025): $272 · -81.3% YoY. Source: county tax records.