12945 Forrer St · Detroit, MI 48227

$149,500

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 3 Days on market

Built 1928 4,792 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• 1% rule +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming brick Colonial featuring 3 spacious bedrooms, 1 full bath and half bath, and a comfortable layout with classic character. Full unfinished basement offers room to expand. Large backyard ideal for outdoor enjoyment. Convenient location near schools, shopping, and major freeways. Currently leased at $1,300/month - great for investors or future homeowners looking to offset costs. Down payment assistance up to $20,000+ DO NOT DISTURB TENANT. BATVAI.

Key facts

• Large backyard
• Convenient location
• Brick colonial

Tags

• BRICK COLONIAL
• FULL UNFINISHED BASEMENT
• LARGE BACKYARD
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One and one-half stories; Ground-level entry
• Construction: Built with aluminum siding, block, brick, brick veneer and wood siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.11 acres (40 x 129); No pool

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heating: Baseboard, Electric, Forced Air, Natural Gas; No cooling
• Interior features: Unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-276 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (10.3% below list).
• Recommended offer: $117k (21.5% below list) — sets the bar for cash-flow.
• Cap rate 4.1% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 rising fast (+5.6%/yr); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 44% of the median local income ($37k/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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 19 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 $16k; list at $150k implies a 829% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,341 (21.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 4.08%
• Cash-on-cash: -7.90%
• DSCR: 0.65
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $75,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13599 Winthrop St	0.17mi	3/1.5	1,089 (+2%)	2mo	$145,000	$133	84
12699 Woodmont Ave	0.42mi	3/1.0	1,054 (-1%)	1mo	$64,000	$61	78
13620 Saint Marys St	0.21mi	3/2.0	1,020 (-4%)	2mo	$72,000	$71	78
13364 Coyle St	0.45mi	3/1.0	1,083 (+2%)	2mo	$95,000	$88	74
13215 Prest St	0.25mi	3/1.0	1,160 (+9%)	1mo	$100,000	$86	73
12660 Grandmont Ave	0.47mi	3/1.0	1,019 (-4%)	1mo	$85,000	$83	70
13209 Terry St	0.53mi	3/1.5	1,044 (-2%)	2mo	$54,500	$52	69
12057 Forrer St	0.61mi	3/1.0	1,000 (-6%)	1mo	$45,000	$45	61
13900 Sussex St	0.43mi	3/1.0	971 (-9%)	6mo	$40,000	$41	60
12832 Terry St	0.56mi	3/1.0	981 (-8%)	4mo	$40,000	$41	57
12094 Asbury Park	0.64mi	3/1.0	1,156 (+9%)	6mo	$61,000	$53	50
12124 Asbury Park	0.61mi	3/1.5	919 (-14%)	2mo	$130,000	$141	45

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: -26.1%
• Equity multiple: 0.09×
• Total profit: $-37,992
• Equity at exit: $22,291

10-year hold

• IRR: -14.2%
• Equity multiple: 0.06×
• Total profit: $-39,340
• Equity at exit: $12,926

Cash invested: $41,860 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$784
• Tax from tax record: −$489 /mo · $5,867/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-276

Break-even live

Break-even rent $1,690

Max offer price $117,341

Occupancy floor —

Sensitivity live

Price	-10% $-191	-5% $-233	+0% $-276	+5% $-318	+10% $-360
Rent	-10% $-382	-5% $-329	+0% $-276	+5% $-223	+10% $-170
Rate	-1.0pp $-200	-0.5pp $-238	base $-276	+0.5pp $-314	+1.0pp $-354

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	0.40mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	45d	1	0.42mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	0.46mi
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	23d	1	0.53mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	6d	1	0.58mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	0.68mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	45d	1	0.70mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	45d	1	0.74mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	0.75mi
11641 Mansfield St Unit 2 Detroit, MI	3.0	1.0	1449	$1,300	$0.90	45d	1	0.75mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	18d	1	0.76mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	21d	1	0.76mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	6d	1	0.78mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	45d	1	0.79mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	0.83mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	45d	1	0.83mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	26d	1	0.84mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	26d	1	0.84mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	6d	1	0.89mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	18d	1	0.90mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	18d	1	0.91mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	45d	1	0.91mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	14d	1	0.92mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	6d	1	0.92mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	14d	1	0.93mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	0.98mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	0.98mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	45d	1	0.99mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	16d	1	1.00mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	45d	1	1.00mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	18d	1	1.04mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	6d	1	1.05mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	45d	1	1.05mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.06mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	22d	1	1.08mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	18d	1	1.08mi
10030 Abington Ave Detroit, MI	4.0	2.0	1350	$1,475	$1.09	12d	1	1.09mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	19d	1	1.11mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	1.12mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	26d	1	1.14mi

Listing history 3 events

1. 2026-06-21
   days on market $149,500 Active 3 DOM
2. 2026-06-18
   remarks 455-char remark

   Show marketing remark (457 chars)

   Charming brick Colonial featuring 3 spacious bedrooms, 1 full bath and half bath, and a comfortable layout with classic character. Full unfinished basement offers room to expand. Large backyard ideal for outdoor enjoyment. Convenient location near schools, shopping, and major freeways. Currently leased at $1,300/month - great for investors or future homeowners looking to offset costs. Down payment assistance up to $20,000+ DO NOT DISTURB TENANT. BATVAI.

3. 2026-06-18
   listed $149,500 Active 1 DOM

   Show marketing remark (457 chars)

   Charming brick Colonial featuring 3 spacious bedrooms, 1 full bath and half bath, and a comfortable layout with classic character. Full unfinished basement offers room to expand. Large backyard ideal for outdoor enjoyment. Convenient location near schools, shopping, and major freeways. Currently leased at $1,300/month - great for investors or future homeowners looking to offset costs. Down payment assistance up to $20,000+ DO NOT DISTURB TENANT. BATVAI.

ⓘ 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: $5,867 · $489/mo
• Projected year-2 tax: $5,867 · $489/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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 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: $16,094
• − Mortgage interest: −$8,374
• − Property taxes: −$5,867
• − Insurance: −$748
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$4,349
• Taxable loss: −$5,819
• Est. tax savings @ 24.0%: +$1,397
• After-tax cash flow: $-1,912/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

+36.3% since first listed

46 events — show timeline

• 2026-06-18 Listed $149,500 REALCOMP
• 2026-06-18 Listed $149,500 MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-03-19 Relisted — REALCOMP
• 2026-03-06 Relisted — MiRealSource-MiMLS
• 2025-09-10 Pending — MiRealSource-MiMLS
• 2025-09-10 Pending — REALCOMP
• 2025-09-10 Listing Removed — REALCOMP
• 2025-07-08 Price Changed $137,500 MiRealSource-MiMLS
• 2025-07-08 Price Changed $137,500 REALCOMP
• 2025-05-16 Price Changed $137,999 MiRealSource-MiMLS
• 2025-05-15 Price Changed $137,999 REALCOMP
• 2025-05-15 Price Changed $136,999 REALCOMP
• 2025-04-29 Listed $139,000 REALCOMP
• 2025-04-29 Listed $139,000 MiRealSource-MiMLS
• 2025-04-09 Listing Removed — REALCOMP
• 2025-04-09 Listing Removed — MiRealSource-MiMLS
• 2025-01-10 Price Changed $140,000 MiRealSource-MiMLS
• 2025-01-10 Price Changed $140,000 REALCOMP
• 2024-11-23 Relisted — MiRealSource-MiMLS
• 2024-11-23 Relisted — REALCOMP
• 2024-11-11 Listing Removed — REALCOMP
• 2024-11-11 Listing Removed — MiRealSource-MiMLS
• 2024-11-01 Listed $145,000 REALCOMP
• 2024-11-01 Listed $145,000 MiRealSource-MiMLS
• 2024-10-18 Listing Removed — MiRealSource-MiMLS
• 2024-10-18 Listing Removed — REALCOMP
• 2024-10-11 Price Changed $139,000 MiRealSource-MiMLS
• 2024-10-10 Price Changed $139,000 REALCOMP
• 2024-09-03 Listed $149,000 MiRealSource-MiMLS
• 2024-09-03 Listed $149,000 REALCOMP
• 2018-11-02 Listing Removed — REALCOMP
• 2018-11-02 Listing Removed — MiRealSource-MiMLS
• 2018-10-18 Listed $25,900 MiRealSource-MiMLS
• 2018-10-18 Listed $25,900 REALCOMP
• 2015-07-20 Listing Removed — REALCOMP
• 2015-07-20 Sold (MLS) $16,100 MiRealSource-MiMLS
• 2015-07-20 Sold (MLS) $16,100 REALCOMP
• 2015-04-26 Listed $17,900 REALCOMP
• 2015-03-17 Listed $17,900 MiRealSource-MiMLS
• 2007-01-18 Listing Removed — REALCOMP
• 2007-01-18 Listing Removed — MiRealSource-MiMLS
• 2006-07-19 Listed $87,000 REALCOMP
• 2006-07-18 Listed $87,000 MiRealSource-MiMLS
• 2006-03-23 Listing Removed — REALCOMP
• 2005-12-23 Listed $109,700 REALCOMP

Property tax history

+30.3%/yr

Latest (2025): $5,867 · +10.3% YoY. Source: county tax records.