14292 Evanston St · Detroit, MI 48213

$54,900

3 bd · 1.0 ba · 1,371 sqft · SingleFamily public records · 87 Days on market

Built 1936 3,485 sqft lot $40/sqft · 34% above area Est $41k · 34% 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 +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

Great first-time home buyer opportunity, investors welcome. This 2 story Brick Colonial property features 3 bedrooms, 1.1 bathrooms with 1 car detached garage. Nearby Denby High School.

Key facts

• Detached garage
• 3,485 sq ft lot
• Garage

Tags

• 2 STORY BRICK COLONIAL
• DETACHED GARAGE
• NEARBY DENBY HIGH SCHOOL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.5% 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; 40 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 $1,392/mo this rent would consume 49% 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 $380 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 32y ago; this cycle's ask has dropped $7k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.53% ✓
• Cap rate: 20.54%
• Cash-on-cash: 50.90%
• DSCR: 3.26
• GRM: 3.3

CMA / ARV

• ARV (median comp): $40,915
• List price: $54,900
• Delta: 34.18%
• 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
14480 Wade St	0.24mi	2/2.0 (-1)	1,406 (+3%)	6mo	$122,500	$87	70
13113 Camden St	0.33mi	3/1.0	1,224 (-11%)	2mo	$88,000	$72	65
5794 Dickerson St	0.49mi	3/1.0	1,467 (+7%)	4mo	$118,000	$80	62
9722 Wayburn St	0.54mi	3/1.0	1,464 (+7%)	2mo	$84,900	$58	62
13334 Elmdale St	0.42mi	3/1.0	1,221 (-11%)	3mo	$89,254	$73	60
9131 Wayburn St	0.36mi	3/1.5	1,222 (-11%)	6mo	$100,000	$82	58
5557 Lakeview St	0.49mi	3/1.0	1,233 (-10%)	4mo	$40,000	$32	57
9437 Beaconsfield St	0.59mi	3/1.0	1,208 (-12%)	5mo	$44,500	$37	49
5545 Maryland St	0.59mi	4/1.0 (+1)	1,251 (-9%)	6mo	$140,000	$112	48
10709 Bonita St	0.70mi	3/1.0	1,226 (-11%)	4mo	$82,000	$67	46
9973 E Outer Dr	0.66mi	3/2.5	1,506 (+10%)	2mo	$83,500	$55	45
5721 Somerset Ave	0.73mi	3/1.5	1,513 (+10%)	3mo	$152,000	$100	44

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: 48.8%
• Equity multiple: 3.13×
• Total profit: $32,691
• Equity at exit: $8,186

10-year hold

• IRR: 54.3%
• Equity multiple: 6.35×
• Total profit: $82,192
• Equity at exit: $4,747

Cash invested: $15,372 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,392 high
• Mortgage (P&I): −$288
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $652

Break-even live

Break-even rent $566

Max offer price $54,900

Occupancy floor 48%

Sensitivity live

Price	-10% $683	-5% $668	+0% $652	+5% $636	+10% $621
Rent	-10% $542	-5% $597	+0% $652	+5% $707	+10% $762
Rate	-1.0pp $680	-0.5pp $666	base $652	+0.5pp $638	+1.0pp $623

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.22mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.41mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.46mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.47mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.49mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.54mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.55mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.67mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.69mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.70mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	18d	1	0.71mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	0.73mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	0.77mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.78mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.79mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	0.83mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.87mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.95mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	0.95mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	0.96mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.97mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	1.00mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.09mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	1.09mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	1.15mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.16mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	1.16mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.19mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.20mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.21mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	1.22mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	1.24mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	2d	1	1.26mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.29mi
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	1.31mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	1.32mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.32mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	18d	1	1.34mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	1.39mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.39mi

Listing history 46 events

1. 2026-06-18
   days on market $54,900 Active 87 DOM
2. 2026-06-17
   days on market $54,900 Active 86 DOM
3. 2026-06-15
   days on market $54,900 Active 84 DOM
4. 2026-06-13
   days on market $54,900 Active 82 DOM
5. 2026-06-13
   days on market $54,900 Active 81 DOM
6. 2026-06-09
   days on market $54,900 Active 78 DOM
7. 2026-06-08
   days on market $54,900 Active 77 DOM
8. 2026-06-07
   days on market $54,900 Active 76 DOM
9. 2026-06-04
   days on market $54,900 Active 73 DOM
10. 2026-06-03
    pricedays on market $54,900 Active 72 DOM
11. 2026-06-01
    days on market $59,000 Active 70 DOM
12. 2026-05-31
    days on market $59,000 Active 69 DOM
13. 2026-04-29
    price $59,000 185-char remark

    Show marketing remark (185 chars)

    Great first-time home buyer opportunity, investors welcome. This 2 story Brick Colonial property features 3 bedrooms, 1.1 bathrooms with 1 car detached garage. Nearby Denby High School.

14. 2026-04-28
    price $59,000 185-char remark

    Show marketing remark (185 chars)

    Great first-time home buyer opportunity, investors welcome. This 2 story Brick Colonial property features 3 bedrooms, 1.1 bathrooms with 1 car detached garage. Nearby Denby High School.

15. 2026-03-23
    listed $62,000 Active 185-char remark

    Show marketing remark (185 chars)

    Great first-time home buyer opportunity, investors welcome. This 2 story Brick Colonial property features 3 bedrooms, 1.1 bathrooms with 1 car detached garage. Nearby Denby High School.

16. 2026-03-23
    listed $62,000 Active 185-char remark

    Show marketing remark (185 chars)

    Great first-time home buyer opportunity, investors welcome. This 2 story Brick Colonial property features 3 bedrooms, 1.1 bathrooms with 1 car detached garage. Nearby Denby High School.

17. 2024-07-26
    historical
18. 2024-07-26
    historical
19. 2024-04-23
    listed $55,000 Active
20. 2024-04-23
    listed $55,000 Active
21. 2022-05-06
    soldstatus $45,000
22. 2022-05-05
    soldstatus $45,000 Sold
23. 2022-05-05
    soldstatus $45,000 Closed
24. 2022-04-04
    status Pending
25. 2022-04-04
    status Pending
26. 2022-03-13
    price $45,000
27. 2022-03-13
    price $45,000
28. 2022-01-23
    listed $55,000 Active
29. 2022-01-23
    listed $55,000 Active
30. 2020-04-20
    historical
31. 2020-04-13
    status Pending
32. 2020-04-13
    status Pending
33. 2020-04-10
    historical
34. 2020-03-16
    listed $24,900 Active
35. 2020-03-16
    listed $24,900 Active
36. 2009-08-06
    soldstatus $2,900
37. 2009-06-02
    listed $2,500
38. 2005-08-23
    soldstatus $38,000
39. 2005-07-26
    listed $44,900
40. 2004-11-16
    historical
41. 2004-08-12
    listed $70,000
42. 1998-09-21
    soldstatus $26,850
43. 1994-07-01
    soldstatus $26,500
44. 1994-06-24
    historical
45. 1994-06-23
    soldstatus $26,500
46. 1994-02-28
    listed $26,500

ⓘ 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: $1,640 · $137/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°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: $16,700
• − Mortgage interest: −$3,075
• − Property taxes: −$1,640
• − Insurance: −$274
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$1,597
• Taxable income: $7,441
• Est. tax owed @ 24.0%: −$1,786
• After-tax cash flow: $6,038/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

+122.6% since first listed

34 events — show timeline

• 2026-04-29 Price Changed $59,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $59,000 REALCOMP
• 2026-03-23 Listed $62,000 REALCOMP
• 2026-03-23 Listed $62,000 MiRealSource-MiMLS
• 2024-07-26 Listing Removed — MiRealSource-MiMLS
• 2024-07-26 Listing Removed — REALCOMP
• 2024-04-23 Listed $55,000 MiRealSource-MiMLS
• 2024-04-23 Listed $55,000 REALCOMP
• 2022-05-06 Sold (Public Records) $45,000 Public Records
• 2022-05-05 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2022-05-05 Sold (MLS) $45,000 REALCOMP
• 2022-04-04 Pending — MiRealSource-MiMLS
• 2022-04-04 Pending — REALCOMP
• 2022-03-13 Price Changed $45,000 MiRealSource-MiMLS
• 2022-03-13 Price Changed $45,000 REALCOMP
• 2022-01-23 Listed $55,000 MiRealSource-MiMLS
• 2022-01-23 Listed $55,000 REALCOMP
• 2020-04-20 Listing Removed — REALCOMP
• 2020-04-13 Pending — MiRealSource-MiMLS
• 2020-04-13 Pending — REALCOMP
• 2020-04-10 Listing Removed — MiRealSource-MiMLS
• 2020-03-16 Listed $24,900 MiRealSource-MiMLS
• 2020-03-16 Listed $24,900 REALCOMP
• 2009-08-06 Sold (MLS) $2,900 REALCOMP
• 2009-06-02 Listed $2,500 REALCOMP
• 2005-08-23 Sold (MLS) $38,000 REALCOMP
• 2005-07-26 Listed $44,900 REALCOMP
• 2004-11-16 Listing Removed — REALCOMP
• 2004-08-12 Listed $70,000 REALCOMP
• 1998-09-21 Sold (Public Records) $26,850 Public Records
• 1994-07-01 Sold (Public Records) $26,500 Public Records
• 1994-06-24 Listing Removed — MiRealSource-MiMLS
• 1994-06-23 Sold (MLS) $26,500 MiRealSource-MiMLS
• 1994-02-28 Listed $26,500 MiRealSource-MiMLS

Property tax history

+1.7%/yr

Latest (2025): $1,640 · -54.2% YoY. Source: county tax records.