12044 Forrer St · Detroit, MI 48227

$79,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 20 Days on market

Built 1940 4,356 sqft lot $82/sqft · 29% above area Est $61k · 29% 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
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• 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

LOOKING FOR A MOVE-IN READY COLONIAL ON THE WEST SIDE OF DETROIT? This is it! Located minutes from downtown Detroit. Whether it could be your opportunity to own this investment property of cash flow with average rents $1,200 or for a first-time homebuyer. You'll love the spacious main floor w/ large living room, dining room w/ several windows that let in TONS of natural sunlight to make a day at home feel blissful. Updated kitchen w/ lots of cabinets w/ counter space has plenty of space to add an entertainment area, game room, home gym, or pantry storage. Fully-fenced backyard perfect for creating your dream garden or ready for you to host family gatherings. New upgrades include: PEX plumbing, 100 amp electrical, new vinyl flooring, Furnace & HWT installed before closing. Great location minutes away from Downtown Detroit Midtown, I-96, M-39 providing easy access to numerous grocery stores & restaurants. Schedule your private showing today. No Seller Financing

Key facts

• New upgrades
• Investment property
• Updated kitchen

Tags

• MOVE IN READY
• INVESTMENT PROPERTY
• SPACIOUS MAIN FLOOR
• UPDATED KITCHEN
• FULLY FENCED BACKYARD
• NEW UPGRADES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Cable available; Underground utilities
• Home design: Single-family residence; Two-story entry with ground-level entry and steps
• Construction: Block construction; Block foundation; Asphalt roof; Built area above grade: 960
• Exterior features: Paved road access; No pool

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: 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.
• Zoned schools: Henderson Academy (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 520 students, 91% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 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 + 5.6% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 21y 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.
• Current owner paid $63k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.61% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.82%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

• ARV (median comp): $61,254
• List price: $79,000
• Delta: 28.97%
• 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
12057 Forrer St	0.03mi	3/1.0 (+1)	1,000 (+4%)	1mo	$45,000	$45	86
12124 Asbury Park	0.32mi	3/1.5 (+1)	919 (-4%)	2mo	$130,000	$141	69
9580 Mansfield St	0.62mi	2/1.0	890 (-7%)	0mo	$23,000	$26	59
11669 Strathmoor St	0.73mi	3/1.0 (+1)	974 (+2%)	2mo	$30,000	$31	57
12660 Grandmont Ave	0.58mi	3/1.0 (+1)	1,019 (+6%)	1mo	$85,000	$83	57
12203 Grandmont Ave	0.47mi	3/1.5 (+1)	861 (-10%)	1mo	$95,000	$110	53
12699 Woodmont Ave	0.58mi	3/1.0 (+1)	1,054 (+10%)	1mo	$64,000	$61	51
11375 Grandmont Ave	0.54mi	3/1.0 (+1)	1,083 (+13%)	1mo	$104,000	$96	48
9930 Whitcomb St	0.57mi	3/1.0 (+1)	1,078 (+12%)	2mo	$35,000	$32	46
9599 Whitcomb St	0.65mi	3/1.0 (+1)	1,060 (+10%)	1mo	$55,000	$52	46
9909 Asbury Park	0.61mi	3/1.0 (+1)	1,095 (+14%)	1mo	$95,000	$87	42
12690 Asbury Park	0.51mi	3/2.0 (+1)	826 (-14%)	2mo	$85,000	$103	42

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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 1.89×
• Total profit: $19,767
• Equity at exit: $11,779

10-year hold

• IRR: 31.0%
• Equity multiple: 4.15×
• Total profit: $69,578
• Equity at exit: $6,830

Cash invested: $22,120 (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 48227

• Rents YoY: 5.6%
• Active inventory: 392
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$414
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $457

Break-even live

Break-even rent $697

Max offer price $79,000

Occupancy floor 59%

Sensitivity live

Price	-10% $502	-5% $480	+0% $457	+5% $435	+10% $413
Rent	-10% $357	-5% $407	+0% $457	+5% $508	+10% $558
Rate	-1.0pp $497	-0.5pp $478	base $457	+0.5pp $437	+1.0pp $416

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	23d	1	0.10mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	18d	1	0.32mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	14d	1	0.33mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	18d	1	0.36mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	26d	1	0.38mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	45d	1	0.43mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	18d	1	0.46mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	26d	1	0.55mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	45d	1	0.58mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	19d	1	0.58mi
9601 Greenfield Rd Detroit, MI	1.0	1.0	500	$725	$1.45	45d	1	0.58mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	0.65mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	0.70mi
12611 Memorial St Unit 629203 Detroit, MI	1.0	1.0	635	$995	$1.57	26d	1	0.71mi
12611 Memorial St Unit 629104 Detroit, MI	1.0	1.0	700	$995	$1.42	45d	1	0.71mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	45d	1	0.71mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	26d	1	0.75mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	0.79mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	18d	1	0.82mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	3d	1	0.84mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	45d	1	0.85mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	45d	1	0.87mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	18d	1	1.01mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.02mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	6d	1	1.11mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	6d	1	1.13mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	45d	1	1.16mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	6d	1	1.19mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.21mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	45d	1	1.22mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	6d	1	1.23mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	0d	15	1.24mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	45d	1	1.26mi
13310 Plymouth Rd Unit 1 Detroit, MI	1.0	1.0	650	$645	$0.99	45d	1	1.28mi
13310 Plymouth Rd Unit 05 Detroit, MI	1.0	1.0	650	$595	$0.92	45d	1	1.28mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.32mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	26d	1	1.35mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	45d	1	1.40mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.42mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	19d	1	1.44mi

Listing history 50 events

1. 2026-06-21
   days on market $79,000 Active 20 DOM
2. 2026-06-18
   days on market $79,000 Active 17 DOM
3. 2026-06-17
   days on market $79,000 Active 16 DOM
4. 2026-06-15
   days on market $79,000 Active 14 DOM
5. 2026-06-13
   days on market $79,000 Active 12 DOM
6. 2026-06-13
   days on market $79,000 Active 11 DOM
7. 2026-06-09
   days on market $79,000 Active 8 DOM
8. 2026-06-08
   days on market $79,000 Active 7 DOM
9. 2026-06-07
   days on market $79,000 Active 6 DOM
10. 2026-06-04
    days on market $79,000 Active 3 DOM
11. 2026-06-03
    days on market $79,000 Active 2 DOM
12. 2026-06-02
    days on marketlisting id $79,000 Active 1 DOM
13. 2026-04-05
    historical $1,200
14. 2026-02-28
    listed $79,000 Active 959-char remark
15. 2026-02-28
    listed $79,000 Active 965-char remark
16. 2026-02-16
    historical
17. 2026-02-16
    historical
18. 2025-12-15
    listed $79,000 Active
19. 2025-12-15
    listed $79,000 Active
20. 2025-12-13
    historical
21. 2025-12-13
    historical
22. 2025-12-06
    listed $1,200
23. 2025-12-06
    historical $1,200
24. 2025-12-05
    listed $1,200
25. 2025-11-26
    historical $1,200
26. 2025-09-19
    price $79,000
27. 2025-09-18
    price $79,000
28. 2025-09-12
    listed $89,000 Active
29. 2025-09-12
    listed $89,000 Active
30. 2025-09-10
    historical
31. 2025-09-10
    historical
32. 2025-06-26
    listed $1,200
33. 2025-06-26
    historical $1,200
34. 2025-06-26
    listed $1,200
35. 2025-06-17
    listed $89,900 Active
36. 2025-06-17
    listed $89,900 Active
37. 2025-06-11
    historical
38. 2025-06-07
    historical
39. 2025-06-07
    historical
40. 2025-05-12
    price $94,000
41. 2025-05-12
    price $94,000
42. 2025-04-22
    status Active
43. 2025-04-21
    historical
44. 2025-03-09
    listed $99,000 Active
45. 2025-03-09
    listed $99,000 Active
46. 2025-03-06
    historical
47. 2023-01-31
    soldstatus $63,000
48. 2023-01-31
    soldstatus $85,000
49. 2006-12-19
    soldstatus $70,000
50. 2006-01-05
    soldstatus $32,000

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $1,238 · $103/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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $15,309
• − Mortgage interest: −$4,425
• − Property taxes: −$1,238
• − Insurance: −$395
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$2,298
• Taxable income: $4,503
• Est. tax owed @ 24.0%: −$1,081
• After-tax cash flow: $4,409/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

+125.7% since first listed

43 events — show timeline

• 2026-06-01 Listed $79,000 REALCOMP
• 2026-06-01 Listed $79,000 MiRealSource-MiMLS
• 2026-05-29 Listing Removed — REALCOMP
• 2026-05-29 Listing Removed — MiRealSource-MiMLS
• 2026-04-05 Rental Removed $1,200 REALCOMP
• 2026-02-28 Listed $79,000 REALCOMP
• 2026-02-28 Listed $79,000 MiRealSource-MiMLS
• 2026-02-16 Listing Removed — REALCOMP
• 2026-02-16 Listing Removed — MiRealSource-MiMLS
• 2025-12-15 Listed $79,000 REALCOMP
• 2025-12-15 Listed $79,000 MiRealSource-MiMLS
• 2025-12-13 Listing Removed — MiRealSource-MiMLS
• 2025-12-13 Listing Removed — REALCOMP
• 2025-12-06 Listed for Rent $1,200 REALCOMP
• 2025-12-06 Rental Removed $1,200 REALSOURCE
• 2025-12-05 Listed for Rent $1,200 REALSOURCE
• 2025-11-26 Rental Removed $1,200 REALSOURCE
• 2025-09-19 Price Changed $79,000 MiRealSource-MiMLS
• 2025-09-18 Price Changed $79,000 REALCOMP
• 2025-09-12 Listed $89,000 REALCOMP
• 2025-09-12 Listed $89,000 MiRealSource-MiMLS
• 2025-09-10 Listing Removed — REALCOMP
• 2025-09-10 Listing Removed — MiRealSource-MiMLS
• 2025-06-26 Listed for Rent $1,200 REALSOURCE
• 2025-06-26 Rental Removed $1,200 REALCOMP
• 2025-06-26 Listed for Rent $1,200 REALCOMP
• 2025-06-17 Listed $89,900 MiRealSource-MiMLS
• 2025-06-17 Listed $89,900 REALCOMP
• 2025-06-11 Coming Soon — MiRealSource-MiMLS
• 2025-06-07 Listing Removed — MiRealSource-MiMLS
• 2025-06-07 Listing Removed — REALCOMP
• 2025-05-12 Price Changed $94,000 MiRealSource-MiMLS
• 2025-05-12 Price Changed $94,000 REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-03-09 Listed $99,000 MiRealSource-MiMLS
• 2025-03-09 Listed $99,000 REALCOMP
• 2025-03-06 Coming Soon — MiRealSource-MiMLS
• 2023-01-31 Sold (Public Records) $85,000 Public Records
• 2023-01-31 Sold (Public Records) $63,000 Public Records
• 2006-12-19 Sold (Public Records) $70,000 Public Records
• 2006-01-05 Sold (MLS) $32,000 REALCOMP
• 2005-06-06 Listed $35,000 REALCOMP

Property tax history

+16.1%/yr

Latest (2025): $1,238 · -30.8% YoY. Source: county tax records.