12156 Monica St · Detroit, MI 48204

$71,000

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 145 Days on market

Built 1925 3,920 sqft lot $50/sqft · 8% below area Est $77k · 8% under

---

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 +11.2/15.0
• 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

Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity

Key facts

• 3,920 sq ft lot
• Built 1925
• Listed 145 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $71k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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: 244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 42% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($491 loan paydown + $7k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $38k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 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 1925 — 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: 1.70% ✓
• Cap rate: 13.73%
• Cash-on-cash: 26.54%
• DSCR: 2.18
• GRM: 4.9

CMA / ARV

• ARV (median comp): $77,311
• List price: $71,000
• Delta: -8.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12303 Cloverlawn St	0.50mi	3/1.5	1,454 (+3%)	4mo	$58,500	$40	66
10163 Monica St	0.43mi	3/1.0	1,486 (+6%)	8mo	$46,000	$31	64
4294 W Buena Vista St	0.59mi	3/1.0	1,400 (-1%)	9mo	$110,000	$79	64
12351 Cherrylawn St	0.62mi	3/1.0	1,418 (+1%)	8mo	$109,500	$77	64
12625 Monica St	0.22mi	3/1.5	1,600 (+14%)	2mo	$48,000	$30	63
11717 Cascade St	0.44mi	3/1.0	1,536 (+9%)	2mo	$81,000	$53	63
13587 Monica St	0.65mi	3/1.0	1,484 (+5%)	5mo	$130,000	$88	57
10155 Monica St	0.44mi	3/1.5	1,535 (+9%)	8mo	$46,000	$30	56
11931 Wisconsin St	0.71mi	3/3.0	1,407 (-0%)	5mo	$135,900	$97	55
4052 W Buena Vista St	0.72mi	3/1.5	1,242 (-12%)	1mo	$160,000	$129	44
9637 Prairie St	0.69mi	3/1.0	1,248 (-11%)	7mo	$87,500	$70	43
4255 Webb St	0.66mi	3/1.5	1,569 (+11%)	7mo	$155,000	$99	42

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: 44.3%
• Equity multiple: 4.36×
• Total profit: $66,708
• Equity at exit: $63,962

10-year hold

• IRR: 38.4%
• Equity multiple: 9.78×
• Total profit: $174,482
• Equity at exit: $137,937

Cash invested: $19,880 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$372
• Tax from tax record: −$110 /mo · $1,323/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $440

Break-even live

Break-even rent $648

Max offer price $71,000

Occupancy floor 59%

Sensitivity live

Price	-10% $480	-5% $460	+0% $440	+5% $420	+10% $400
Rent	-10% $345	-5% $392	+0% $440	+5% $487	+10% $535
Rate	-1.0pp $476	-0.5pp $458	base $440	+0.5pp $421	+1.0pp $403

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: $17,750
• Closing costs: $2,130
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	25d	1	0.02mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.11mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	0.13mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.20mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	22d	1	0.29mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	44d	1	0.50mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.51mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	0.53mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.55mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	0.58mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	0.65mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	0.69mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	44d	1	0.70mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.73mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	0.78mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	0.84mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.86mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	0.90mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	0.91mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.97mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.97mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	0.97mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	0.99mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	0.99mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	0.99mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	1.03mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	1.04mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	44d	1	1.04mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	1.06mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	44d	1	1.10mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	1.13mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	1.13mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	25d	1	1.14mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	13d	1	1.18mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	44d	1	1.18mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	1.19mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	1.20mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.20mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	1.26mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	1.28mi

Listing history 27 events

1. 2026-06-13
   days on market $71,000 Active 145 DOM
2. 2026-06-13
   days on market $71,000 Active 144 DOM
3. 2026-06-09
   days on market $71,000 Active 141 DOM
4. 2026-06-08
   days on market $71,000 Active 140 DOM
5. 2026-06-07
   days on market $71,000 Active 139 DOM
6. 2026-06-04
   days on market $71,000 Active 136 DOM
7. 2026-06-03
   pricestatusdays on market $71,000 Active 135 DOM
8. 2026-03-31
   price $95,000 199-char remark

   Show marketing remark (199 chars)

   Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity

9. 2026-03-03
   price $95,000 199-char remark

   Show marketing remark (199 chars)

   Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity

10. 2026-01-13
    listed $109,000 Active 199-char remark

    Show marketing remark (199 chars)

    Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity

11. 2026-01-13
    listed $109,000 Active 199-char remark

    Show marketing remark (199 chars)

    Welcome to this charming home on Detroit!!!! this well-maintained property w Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity

12. 2021-08-05
    soldstatus $115,000
13. 2021-06-23
    soldstatus $20,000 Sold
14. 2021-06-23
    soldstatus $20,000 Closed
15. 2021-05-13
    status Pending
16. 2021-05-13
    status Pending
17. 2021-05-05
    listed $24,900 Active
18. 2021-05-05
    listed $24,900 Active
19. 2019-05-06
    soldstatus $210,000
20. 2018-08-17
    soldstatus $20,000 Sold
21. 2018-08-17
    soldstatus $20,000 Closed
22. 2018-06-04
    status Pending
23. 2018-06-04
    status Pending
24. 2018-05-11
    price $22,000
25. 2018-05-10
    price $22,000
26. 2017-07-18
    listed $34,999 Active
27. 2017-07-18
    listed $34,999 Active

ⓘ 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: $1,323 · $110/mo
• Projected year-2 tax: $1,323 · $110/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,460
• − Mortgage interest: −$3,977
• − Property taxes: −$1,323
• − Insurance: −$355
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,065
• Taxable income: $4,426
• Est. tax owed @ 24.0%: −$1,062
• After-tax cash flow: $4,215/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+171.4% since first listed

20 events — show timeline

• 2026-03-31 Price Changed $95,000 REALCOMP
• 2026-03-03 Price Changed $95,000 MiRealSource-MiMLS
• 2026-01-13 Listed $109,000 REALCOMP
• 2026-01-13 Listed $109,000 MiRealSource-MiMLS
• 2021-08-05 Sold (Public Records) $115,000 Public Records
• 2021-06-23 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2021-06-23 Sold (MLS) $20,000 REALCOMP
• 2021-05-13 Pending — MiRealSource-MiMLS
• 2021-05-13 Pending — REALCOMP
• 2021-05-05 Listed $24,900 MiRealSource-MiMLS
• 2021-05-05 Listed $24,900 REALCOMP
• 2019-05-06 Sold (Public Records) $210,000 Public Records
• 2018-08-17 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2018-08-17 Sold (MLS) $20,000 REALCOMP
• 2018-06-04 Pending — MiRealSource-MiMLS
• 2018-06-04 Pending — REALCOMP
• 2018-05-11 Price Changed $22,000 MiRealSource-MiMLS
• 2018-05-10 Price Changed $22,000 REALCOMP
• 2017-07-18 Listed $34,999 MiRealSource-MiMLS
• 2017-07-18 Listed $34,999 REALCOMP

Property tax history

-3.8%/yr

Latest (2025): $1,323 · -10.3% YoY. Source: county tax records.