12631 Wilshire Dr · Detroit, MI 48213

$49,900

3 bd · 1.5 ba · 1,859 sqft · SingleFamily public records · 18 Days on market

Built 1926 8,712 sqft lot

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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 +7.5/15.0
• 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

Early 1900 2-Story Colonial or American Foursquare with a revival vibe. Home has 2 covered porches: 1 front and 1 in back. This one has tons of potential and is really one of the nicest structure on the block. The room listed as other is on the landing as you go into the full unfinished basement was made with a single toilet and radiator for heat. The basement is unfinished and over 41 feet long and 23.. 5 feet wide. It's so long because the original brick & mortar basement is under the large and long front porch. The inside has some very cool things like a split staircase from the living room or off the kitchen that leads upstairs. There is also a dedicated staircase to a very large high volume attic that is big enough to convert into a 3rd story with soaring ceilings. You get all this on an extra wide 59 frontage foot, 0.2 acre lot. The backyard is fully fenced with a 2-car detached with electricity and an automatic door with keypad and remote. The home needs work but well worth your efforts. Investors do hurry.

Key facts

• Covered porches
• Split staircase
• Unfinished basement

Tags

• COVERED PORCHES
• UNFINISHED BASEMENT
• SPLIT STAIRCASE
• DEDICATED STAIRCASE
• LARGE HIGH VOLUME ATTIC
• FULLY FENCED BACKYARD

Property features AI

Finance

• Other: Approximately 0.2-acre lot (59 x 150); Subdivision: STEVENS ESTATE SUB 1PLATS; Directions: From Outer Drive go south on Park to the second street; 12631 Wilshire is on the southwest corner adjacent to the vacant corner lot.
• Financial info: Annual tax amount listed (details available from listing)
• HOA & community: Sidewalks in the community

Exterior

• Parking: Detached 2-car garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick and wood siding exterior; Faces not specified
• Construction: Asphalt roof; Brick/mortar foundation; Built with brick and wood siding
• Exterior features: Covered porch; Level lot; Fenced backyard; Paved road access

Interior

• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas heating; Radiant heating; No central cooling
• Interior features: Living room fireplace; Walk-out, daylight, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $746 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.2% 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; 16 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 $1,428/mo this rent would consume 50% 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 $345 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 $14k 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 ($49k) is reasonable based on typical stale-listing flexibility.
• 4 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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: 2.86% ✓
• Cap rate: 24.23%
• Cash-on-cash: 64.07%
• DSCR: 3.85
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $139,425
• 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	0.15mi	3/1.5	1,840 (-1%)	3mo	$60,000	$33	89
12646 Longview St	0.18mi	3/1.5	1,750 (-6%)	7mo	$73,750	$42	76
12816 Rosemary St	0.23mi	3/2.0	1,659 (-11%)	4mo	$131,000	$79	66
9364 E Outer Dr	0.54mi	4/1.5 (+1)	1,808 (-3%)	4mo	$150,000	$83	62
12590 Rosemary St	0.18mi	3/1.5	1,632 (-12%)	12mo	$41,501	$25	61
13361 Maiden St	0.53mi	4/3.0 (+1)	1,786 (-4%)	4mo	$165,000	$92	54
13106 Kilbourne St	0.37mi	3/1.0	1,666 (-10%)	11mo	$125,000	$75	54
12280 Wade St	0.49mi	4/2.0 (+1)	1,750 (-6%)	8mo	$141,000	$81	54
13324 Camden St	0.60mi	4/2.0 (+1)	1,992 (+7%)	3mo	$40,000	$20	50
13310 Wilshire Dr	0.36mi	4/1.0 (+1)	1,600 (-14%)	7mo	$55,000	$34	47
11864 Maiden St	0.59mi	4/3.0 (+1)	1,969 (+6%)	6mo	$185,000	$94	46
14268 Corbett Ave	0.64mi	4/2.0 (+1)	1,750 (-6%)	11mo	$100,000	$57	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: 63.2%
• Equity multiple: 3.83×
• Total profit: $39,475
• Equity at exit: $7,440

10-year hold

• IRR: 67.7%
• Equity multiple: 7.85×
• Total profit: $95,739
• Equity at exit: $4,314

Cash invested: $13,972 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$262
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $746

Break-even live

Break-even rent $484

Max offer price $49,900

Occupancy floor 43%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	24d	1	0.52mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	0.61mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	0.84mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.88mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	0.95mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.09mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.12mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	1.13mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.17mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.18mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.19mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	1.36mi
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	1.42mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	1.42mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	1.46mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	1.49mi

Listing history 16 events

1. 2026-06-13
   statusdays on market $49,900 Pending 18 DOM
2. 2026-06-09
   days on market $49,900 Active 16 DOM
3. 2026-06-08
   days on market $49,900 Active 15 DOM
4. 2026-06-07
   days on market $49,900 Active 14 DOM
5. 2026-06-04
   days on market $49,900 Active 11 DOM
6. 2026-06-03
   days on market $49,900 Active 10 DOM
7. 2026-06-02
   days on market $49,900 Active 9 DOM
8. 2026-06-01
   days on market $49,900 Active 8 DOM
9. 2026-05-31
   days on market $49,900 Active 7 DOM
10. 2026-05-23
    listed $49,900 Active

    Show marketing remark (1035 chars)

    Early 1900 2-Story Colonial or American Foursquare with a revival vibe. Home has 2 covered porches: 1 front and 1 in back. This one has tons of potential and is really one of the nicest structure on the block. The room listed as other is on the landing as you go into the full unfinished basement was made with a single toilet and radiator for heat. The basement is unfinished and over 41 feet long and 23.. 5 feet wide. It's so long because the original brick & mortar basement is under the large and long front porch. The inside has some very cool things like a split staircase from the living room or off the kitchen that leads upstairs. There is also a dedicated staircase to a very large high volume attic that is big enough to convert into a 3rd story with soaring ceilings. You get all this on an extra wide 59 frontage foot, 0.2 acre lot. The backyard is fully fenced with a 2-car detached with electricity and an automatic door with keypad and remote. The home needs work but well worth your efforts. Investors do hurry.

11. 2026-05-23
    listed $49,900 Active 1035-char remark

    Show marketing remark (1035 chars)

    Early 1900 2-Story Colonial or American Foursquare with a revival vibe. Home has 2 covered porches: 1 front and 1 in back. This one has tons of potential and is really one of the nicest structure on the block. The room listed as other is on the landing as you go into the full unfinished basement was made with a single toilet and radiator for heat. The basement is unfinished and over 41 feet long and 23.. 5 feet wide. It's so long because the original brick & mortar basement is under the large and long front porch. The inside has some very cool things like a split staircase from the living room or off the kitchen that leads upstairs. There is also a dedicated staircase to a very large high volume attic that is big enough to convert into a 3rd story with soaring ceilings. You get all this on an extra wide 59 frontage foot, 0.2 acre lot. The backyard is fully fenced with a 2-car detached with electricity and an automatic door with keypad and remote. The home needs work but well worth your efforts. Investors do hurry.

12. 2008-05-16
    historical
13. 2008-01-09
    listed $29,000
14. 2008-01-08
    historical
15. 2007-01-08
    listed $29,000
16. 2005-04-12
    soldstatus $130,000

ⓘ 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: $1,198 · $100/mo
• Projected year-2 tax: $1,198 · $100/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 ≥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: $17,140
• − Mortgage interest: −$2,795
• − Property taxes: −$1,198
• − Insurance: −$250
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$1,452
• Taxable income: $8,703
• Est. tax owed @ 24.0%: −$2,089
• After-tax cash flow: $6,864/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

-61.6% since first listed

7 events — show timeline

• 2026-05-23 Listed $49,900 MiRealSource-MiMLS
• 2026-05-23 Listed $49,900 REALCOMP
• 2008-05-16 Listing Removed — REALCOMP
• 2008-01-09 Listed $29,000 REALCOMP
• 2008-01-08 Listing Removed — REALCOMP
• 2007-01-08 Listed $29,000 REALCOMP
• 2005-04-12 Sold (Public Records) $130,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $1,198 · -37.1% YoY. Source: county tax records.