1061 Lansing St · Detroit, MI 48209

$75,000

3 bd · 1.0 ba · 1,150 sqft · SingleFamily public records · 5 Days on market

Built 1890 4,356 sqft lot Est $132k · 43% under

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Why this score? — see what drove the A- 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
• Appreciation +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

Listing remarks MLS

Stop the car! This is the solid home home you've been looking for located in Mexicantown / Southwest Detroit. This once loved ranch is 1,150sq ft, a three bedroom, one bathroom home. Approximate updates include spacious Kitchen (1990's), Roof (2012), Furnace (2017), Water Heater (2018). Imagine sitting on your deck or porch in your fenced in yard relaxing, a two car detached oversize garage with commercial garage door to store your vehicle. This gem is waiting for it's next owners to live in it as-is (wood flooring might be under the carpet) or put some love into it. Close to stores, parks, five minuets from Downtown. Maybury Elementary is within a few blocks. Don't delay make this your home today! Audio/Video might be on property. BATVAI

Key facts

• Close to parks
• Spacious kitchen
• Close to stores

Tags

• FENCED IN YARD
• DETACHED OVERSIZE GARAGE
• SPACIOUS KITCHEN
• CLOSE TO STORES
• CLOSE TO PARKS

Property features AI

Exterior

• Parking: Detached 2-car garage with alley access and garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Aluminum siding and brick exterior
• Construction: Asphalt roof
• Exterior features: Covered porch; Deck; Porch; Fenced backyard; Paved road access

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Wood stove heating; Ceiling fans; No central cooling
• Interior features: Gas water heater; Wood-burning stove in the living room; Fireplace; Crawl space basement; Six total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 14.6% 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: 66 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 37% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1890 — 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: 1.76% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $132,250
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1220 Military St	0.47mi	3/1.0	1,110 (-4%)	5mo	$110,000	$99	68
5660 Christiancy St	0.36mi	2/1.0 (-1)	1,240 (+8%)	10mo	$50,000	$40	57
1937 Morrell St	0.49mi	3/1.0	1,300 (+13%)	7mo	$150,000	$115	49
1541 25th St	0.67mi	2/1.0 (-1)	1,078 (-6%)	12mo	$175,000	$162	43
1528 25th St	0.69mi	3/1.0	1,259 (+10%)	16mo	$200,000	$159	39
4219 Toledo St	0.69mi	3/1.0	1,058 (-8%)	22mo	$76,500	$72	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 4.53×
• Total profit: $74,109
• Equity at exit: $67,566

10-year hold

• IRR: 40.8%
• Equity multiple: 10.15×
• Total profit: $192,146
• Equity at exit: $145,709

Cash invested: $21,000 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 66
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$393
• Tax from tax record: −$99 /mo · $1,183/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $522

Break-even live

Break-even rent $662

Max offer price $75,000

Occupancy floor 56%

Sensitivity live

Price	-10% $564	-5% $543	+0% $522	+5% $501	+10% $479
Rent	-10% $417	-5% $470	+0% $522	+5% $574	+10% $626
Rate	-1.0pp $560	-0.5pp $541	base $522	+0.5pp $502	+1.0pp $483

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1434 Campbell St Detroit, MI	3.0	1.0	1150	$1,750	$1.52	24d	1	0.31mi
1729 Vinewood St Unit 2 Detroit, MI	2.0	1.0	893	$775	$0.87	13d	1	0.59mi
6628 W Lafayette Blvd Detroit, MI	2.0	1.0	900	$965	$1.07	44d	1	0.87mi
6720 Regular St Unit 6724 Detroit, MI	2.0	1.0	750	$950	$1.27	44d	1	0.95mi
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	17d	1	1.25mi
7263 Senator St Detroit, MI	2.0	1.0	909	$1,300	$1.43	44d	1	1.36mi
7265 Senator St Detroit, MI	2.0	1.0	1232	$1,300	$1.06	44d	1	1.36mi

Listing history 5 events

1. 2026-06-15
   status $75,000 Pending 5 DOM
2. 2026-06-15
   days on market $75,000 Active 5 DOM
3. 2026-06-13
   days on market $75,000 Active 3 DOM
4. 2026-06-13
   remarks 699-char remark
5. 2026-06-13
   listed $75,000 Active 2 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: $1,183 · $99/mo
• Projected year-2 tax: $1,183 · $99/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 4/10 Moderate FEMA zone X (unshaded) · 24% 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,874
• − Mortgage interest: −$4,201
• − Property taxes: −$1,183
• − Insurance: −$375
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$2,182
• Taxable income: $5,393
• Est. tax owed @ 24.0%: −$1,294
• After-tax cash flow: $4,968/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-10 Listed $75,000 REALCOMP
• 2026-06-10 Listed $75,000 MiRealSource-MiMLS

Property tax history

+5.5%/yr

Latest (2025): $1,183 · +0.0% YoY. Source: county tax records.