12667 Blackstone St · Detroit, MI 48223

$65,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 41 Days on market

Built 1968 5,227 sqft lot $71/sqft · 109% above area

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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

Packed with potential and ready for its next chapter, this inviting home presents a great opportunity for investors, renovators, or buyers looking to add their own personal touch. With solid bones and plenty of upside, the possibilities here are endless. Ideally located near major freeways, schools, parks, shopping, and everyday conveniences, this property offers both accessibility and opportunity. Even better, the sale includes the neighboring lots at 12659 Blackstone and 12675 Blackstone, providing added value, flexibility, and future development potential. Don't miss your chance to bring this property back to life. Schedule your private showing today! Purchaser to pay 395 processing fee. As-is sale. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 75,000 PURCHASE PRICE, 22,000 DOWN PAYMENT, 8% INTEREST, 84 MONTH TERM. 826 / MONTH. seller financing/land contract terms are negotiable.

Key facts

• 5,227 sq ft lot
• Built 1968
• Listed 41 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Built as residential single-family
• Exterior features: Paved road access; 35 x 146 lot (0.12 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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: 161 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% 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).
• This rent runs 32% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $2; list at $65k implies a 3249900% gain — meaningful room to come down on a strong offer.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.82% ✓
• Cap rate: 15.73%
• Cash-on-cash: 33.70%
• DSCR: 2.50
• GRM: 4.6

CMA / ARV

• ARV (median comp): $31,123
• List price: $65,000
• Delta: 108.85%
• 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
12801 Bentler St	0.15mi	3/1.0	926 (+2%)	7mo	$20,000	$22	84
12879 Braile St	0.28mi	3/1.0	922 (+1%)	14mo	$24,000	$26	74
12153 Braile St	0.38mi	3/1.0	935 (+2%)	13mo	$70,000	$75	67
12219 Stout St	0.50mi	3/1.0	846 (-7%)	1mo	$25,000	$30	64
12087 Heyden St	0.61mi	3/1.0	956 (+5%)	5mo	$46,000	$48	60
14032 Patton St St	0.62mi	3/1.0	968 (+6%)	3mo	$50,000	$52	58
11792 Burt Rd	0.43mi	2/1.0 (-1)	810 (-11%)	4mo	$27,000	$33	53
13500 Heyden St	0.59mi	2/1.0 (-1)	850 (-7%)	4mo	$20,000	$24	53
11688 Stout St	0.68mi	3/2.0	910 (-0%)	15mo	$35,000	$38	52
11419 Braile St	0.69mi	2/1.0 (-1)	969 (+6%)	2mo	$45,000	$46	51
14177 Bentler St	0.65mi	4/1.0 (+1)	1,000 (+10%)	8mo	$30,000	$30	42
13955 Dolphin St	0.69mi	3/1.0	1,034 (+13%)	10mo	$55,000	$53	37

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: 29.0%
• Equity multiple: 2.21×
• Total profit: $22,023
• Equity at exit: $9,692

10-year hold

• IRR: 36.4%
• Equity multiple: 4.36×
• Total profit: $61,107
• Equity at exit: $5,620

Cash invested: $18,200 (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 48223

• Active inventory: 161
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,186 high
• Mortgage (P&I): −$341
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $511

Break-even live

Break-even rent $539

Max offer price $65,000

Occupancy floor 52%

Sensitivity live

Price	-10% $548	-5% $529	+0% $511	+5% $493	+10% $474
Rent	-10% $417	-5% $464	+0% $511	+5% $558	+10% $605
Rate	-1.0pp $544	-0.5pp $528	base $511	+0.5pp $494	+1.0pp $477

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	45d	1	0.17mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	45d	6	0.37mi
12850 Dolphin St Detroit, MI	1.0–2.0	1.0	746	$999	$1.34	6d	4	0.50mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	45d	1	0.60mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	45d	1	0.65mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	45d	1	0.67mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.68mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	45d	1	1.02mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	18d	1	1.05mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	18d	1	1.06mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	1.08mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	1.08mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.08mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	1.09mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	1.09mi
14280 Bramell St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	18d	1	1.10mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.11mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	45d	1	1.11mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	45d	1	1.11mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	45d	1	1.12mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.14mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.14mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.14mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.14mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.14mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.14mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.15mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	1.18mi
23610 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.22mi
23626 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.23mi
23614 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.23mi
23606 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.23mi
23602 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.23mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.24mi
23618 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.24mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.24mi
23622 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.25mi
23634 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.26mi
23636 Schoolcraft Rd Unit 109 Detroit, MI	2.0	1.0	750	$975	$1.30	45d	1	1.26mi
23640 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.26mi

Listing history 18 events

1. 2026-06-21
   days on market $65,000 Active 41 DOM
2. 2026-06-18
   days on market $65,000 Active 38 DOM
3. 2026-06-17
   days on market $65,000 Active 37 DOM
4. 2026-06-15
   days on market $65,000 Active 35 DOM
5. 2026-06-13
   days on market $65,000 Active 33 DOM
6. 2026-06-13
   days on market $65,000 Active 32 DOM
7. 2026-06-09
   days on market $65,000 Active 29 DOM
8. 2026-06-08
   days on market $65,000 Active 28 DOM
9. 2026-06-07
   days on market $65,000 Active 27 DOM
10. 2026-06-04
    days on market $65,000 Active 24 DOM
11. 2026-06-03
    days on market $65,000 Active 23 DOM
12. 2026-06-02
    days on market $65,000 Active 22 DOM
13. 2026-06-01
    days on market $65,000 Active 21 DOM
14. 2026-05-31
    days on market $65,000 Active 20 DOM
15. 2026-05-11
    listed $65,000 Active 908-char remark

    Show marketing remark (901 chars)

    Packed with potential and ready for its next chapter, this inviting home presents a great opportunity for investors, renovators, or buyers looking to add their own personal touch. With solid bones and plenty of upside, the possibilities here are endless. Ideally located near major freeways, schools, parks, shopping, and everyday conveniences, this property offers both accessibility and opportunity. Even better, the sale includes the neighboring lots at 12659 Blackstone and 12675 Blackstone, providing added value, flexibility, and future development potential. Don't miss your chance to bring this property back to life. Schedule your private showing today! Purchaser to pay 395 processing fee. As-is sale. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 75,000 PURCHASE PRICE, 22,000 DOWN PAYMENT, 8% INTEREST, 84 MONTH TERM. 826 / MONTH. seller financing/land contract terms are negotiable.

16. 2026-05-11
    listed $65,000 Active 901-char remark

    Show marketing remark (901 chars)

    Packed with potential and ready for its next chapter, this inviting home presents a great opportunity for investors, renovators, or buyers looking to add their own personal touch. With solid bones and plenty of upside, the possibilities here are endless. Ideally located near major freeways, schools, parks, shopping, and everyday conveniences, this property offers both accessibility and opportunity. Even better, the sale includes the neighboring lots at 12659 Blackstone and 12675 Blackstone, providing added value, flexibility, and future development potential. Don't miss your chance to bring this property back to life. Schedule your private showing today! Purchaser to pay 395 processing fee. As-is sale. SELLER FINANCING / LAND CONTRACT TERMS AVAILABLE AT 75,000 PURCHASE PRICE, 22,000 DOWN PAYMENT, 8% INTEREST, 84 MONTH TERM. 826 / MONTH. seller financing/land contract terms are negotiable.

17. 2024-09-27
    soldstatus $2
18. 2006-07-28
    soldstatus $40,000

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $846 · $70/mo
• Expected delta: +$155/yr (+$13/mo · 22.4%)

ⓘ 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 ≥99°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: $14,227
• − Mortgage interest: −$3,641
• − Property taxes: −$691
• − Insurance: −$325
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$1,891
• Taxable income: $5,403
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $4,836/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -303.41%
• Current HPI: 138.2779
• 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

+62.5% since first listed

4 events — show timeline

• 2026-05-11 Listed $65,000 REALCOMP
• 2026-05-11 Listed $65,000 MiRealSource-MiMLS
• 2024-09-27 Sold (Public Records) $2 Public Records
• 2006-07-28 Sold (Public Records) $40,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $691 · -31.0% YoY. Source: county tax records.