11800 Riad St · Detroit, MI 48224

$94,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 287 Days on market

Built 1929 4,356 sqft lot $72/sqft · 81% above area ↓ 10% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1929

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $83k (12.0% 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: Rents flat; 484 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).
• This rent runs 36% 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 $650 of loan paydown is wiped out by about $3k 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 + 0.7% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 287 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 287 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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: 1.43% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.12%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

• ARV (median comp): $51,790
• List price: $94,000
• Delta: 81.50%
• 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
15419 Young St	0.21mi	3/1.0	1,250 (-4%)	3mo	$54,500	$44	82
15411 Young St St	0.21mi	3/1.5	1,240 (-5%)	2mo	$95,000	$77	79
11742 Whitehill St	0.25mi	3/1.5	1,228 (-6%)	1mo	$61,000	$50	76
15469 Troester St	0.33mi	3/1.0	1,375 (+6%)	1mo	$60,000	$44	74
11323 Lansdowne St	0.21mi	3/1.5	1,397 (+8%)	2mo	$133,282	$95	74
11336 Courville St	0.27mi	3/1.0	1,425 (+10%)	0mo	$62,500	$44	71
10185 Beaconsfield St	0.66mi	3/1.0	1,300 (0%)	2mo	$73,000	$56	67
15430 Mapleridge St	0.49mi	4/1.5 (+1)	1,320 (+2%)	1mo	$123,000	$93	66
12519 Riad St	0.60mi	3/1.0	1,135 (-13%)	0mo	$100,000	$88	51
12230 Lansdowne St	0.69mi	3/1.0	1,426 (+10%)	3mo	$56,000	$39	49
10441 Roxbury St	0.54mi	3/1.5	1,127 (-13%)	3mo	$59,000	$52	48
10318 Beaconsfield St	0.63mi	3/1.5	1,146 (-12%)	1mo	$78,000	$68	48

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.32×
• Total profit: $8,497
• Equity at exit: $14,016

10-year hold

• IRR: 15.7%
• Equity multiple: 2.14×
• Total profit: $30,097
• Equity at exit: $8,127

Cash invested: $26,320 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,343 high
• Mortgage (P&I): −$493
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $419

Break-even live

Break-even rent $812

Max offer price $94,000

Occupancy floor 64%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	0.18mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	0.18mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.32mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.41mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.43mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.44mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	0.45mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	0.46mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.47mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.48mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.49mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.49mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.51mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.54mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.64mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.65mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	0.67mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.73mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	0.73mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	0.75mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	0.76mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.85mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.85mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	0.87mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.87mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	0.87mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.89mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	0.91mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	0.91mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.92mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.92mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.92mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	0.95mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	0.95mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.96mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	0.97mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	0.98mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	0.98mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	43d	1	1.00mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.01mi

Listing history 20 events

1. 2026-06-18
   days on market $94,000 Active 287 DOM
2. 2026-06-17
   days on market $94,000 Active 286 DOM
3. 2026-06-15
   days on market $94,000 Active 284 DOM
4. 2026-06-13
   days on market $94,000 Active 282 DOM
5. 2026-06-13
   days on market $94,000 Active 281 DOM
6. 2026-06-09
   days on market $94,000 Active 278 DOM
7. 2026-06-08
   days on market $94,000 Active 277 DOM
8. 2026-06-07
   days on market $94,000 Active 276 DOM
9. 2026-06-04
   days on market $94,000 Active 273 DOM
10. 2026-06-03
    days on market $94,000 Active 272 DOM
11. 2026-06-01
    days on market $94,000 Active 270 DOM
12. 2026-05-31
    days on market $94,000 Active 269 DOM
13. 2026-03-06
    status Active 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

14. 2026-03-06
    status Active 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

15. 2026-02-26
    status Pending 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

16. 2026-02-26
    status Pending 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

17. 2025-09-18
    price $94,000 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

18. 2025-09-17
    price $94,000 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

19. 2025-08-27
    listed $104,000 Active 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

20. 2025-08-27
    listed $104,000 Active 701-char remark

    Show marketing remark (701 chars)

    FHA Appraisal $104,000!!! If financing, seller will pay 3 points to lower your interest rate. Land Contract options available too. Introducing a solid investment opportunity: A charming brick home featuring 3 spacious bedrooms and 2 full bathrooms. Currently leased by a reliable Section 8 tenant, this property promises steady income, making it a perfect addition to any investor's portfolio. With its durable construction and desirable layout, it offers both security and comfort for the occupants (tenants or primary residence if it were to become vacant). This home is ideal for those looking to expand their investment horizons. Don't miss out. Seller is motivated. Schedule an appointment today!

ⓘ 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: $1,316 · $110/mo
• Projected year-2 tax: $1,382 · $115/mo
• Expected delta: +$66/yr (+$6/mo · 5.0%)

ⓘ 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 · 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: $16,119
• − Mortgage interest: −$5,265
• − Property taxes: −$1,316
• − Insurance: −$470
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$2,735
• Taxable income: $3,755
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $4,132/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• 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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-9.6% since first listed

8 events — show timeline

• 2026-03-06 Relisted — MiRealSource-MiMLS
• 2026-03-06 Relisted — REALCOMP
• 2026-02-26 Pending — MiRealSource-MiMLS
• 2026-02-26 Pending — REALCOMP
• 2025-09-18 Price Changed $94,000 MiRealSource-MiMLS
• 2025-09-17 Price Changed $94,000 REALCOMP
• 2025-08-27 Listed $104,000 REALCOMP
• 2025-08-27 Listed $104,000 MiRealSource-MiMLS

Property tax history

-3.3%/yr

Latest (2025): $1,316 · -54.0% YoY. Source: county tax records.