2063 Meade St · Detroit, MI 48212

$129,900

3 bd · 1.5 ba · 1,047 sqft · SingleFamily public records · 62 Days on market

Built 1919 3,049 sqft lot $124/sqft · 20% above area Est $185k · 30% under ↓ 24% since listing

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! Fully renovated from the ground up, this property offers true move-in ready living with major updates already completed, including a new roof. The interior is clean, bright, and finished with modern, neutral touches throughout. Natural light fills the space, and the layout is simple and functional for everyday living. Set on a quiet street with minimal traffic, the property offers a level of privacy that is hard to find this close to the city. An additional adjacent lot may be included for the right price, offering potential for expanded space or future use. Conveniently located in Hamtramck with quick access to Detroit, major roads, freeways, and a wide range of local restaurants and everyday amenities.

Key facts

• 3,049 sq ft lot
• Built 1919
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (4.4% below list).
• Recommended offer: $122k (6.0% 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: 166 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 39% of the median local income ($38k/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 $898 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

• It's been on market 62 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 8 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 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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: 0.96% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (median comp): $184,894
• List price: $129,900
• Delta: -29.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12624 Charest St	0.53mi	3/1.0	1,008 (-4%)	2mo	$190,000	$188	66
11658 Lumpkin St	0.47mi	3/1.0	1,100 (+5%)	10mo	$155,000	$141	60
12045 Klinger St	0.75mi	3/1.0	1,031 (-2%)	7mo	$182,000	$177	55
1714 Woodland St	0.62mi	2/1.5 (-1)	1,072 (+2%)	9mo	$120,000	$112	54
13953 Mackay St	0.59mi	3/1.0	1,138 (+9%)	4mo	$34,000	$30	52
13502 Anglin St	0.46mi	3/1.0	921 (-12%)	9mo	$22,000	$24	49
2394 Pulaski St	0.55mi	3/2.0	920 (-12%)	11mo	$193,500	$210	43
11685 Mitchell St	0.64mi	3/2.0	1,155 (+10%)	12mo	$137,000	$119	41
254 Colorado St	0.71mi	3/1.0	1,149 (+10%)	10mo	$125,000	$109	40
11338 Lumpkin St	0.72mi	3/1.0	1,200 (+15%)	0mo	$210,909	$176	40
11655 Mitchell St	0.66mi	4/2.0 (+1)	1,200 (+15%)	2mo	$225,000	$188	36
11575 Lumpkin St	0.54mi	4/1.0 (+1)	900 (-14%)	11mo	$144,000	$160	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-8,353
• Equity at exit: $19,369

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $8,927
• Equity at exit: $11,231

Cash invested: $36,372 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 166
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$681
• Tax from tax record: −$46 /mo · $547/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $200

Break-even live

Break-even rent $989

Max offer price $129,900

Occupancy floor 79%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13929 Arlington St Unit 2 Hamtramck, MI	2.0	1.0	700	$950	$1.36	44d	1	0.52mi
11384 Nagel St Hamtramck, MI	2.0	1.0	800	$1,150	$1.44	17d	1	0.72mi
11326 Saint Aubin St Unit 2 Hamtramck, MI	2.0	1.0	800	$995	$1.24	24d	1	0.77mi
2315 Yemans St Hamtramck, MI	2.0	2.5	1328	$1,600	$1.20	17d	1	0.96mi
2716 Belmont St Unit B Hamtramck, MI	2.0	1.0	965	$775	$0.80	20d	1	0.97mi
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	24d	1	1.05mi
3191 Belmont St Hamtramck, MI	2.0	1.0	900	$1,350	$1.50	24d	1	1.10mi
2228 Norwalk St Hamtramck, MI	2.0	1.0	866	$1,149	$1.33	15d	1	1.13mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	1.14mi
2297 Florian St Unit 2297 Hamtramck, MI	2.0	1.0	1500	$1,250	$0.83	24d	1	1.21mi
9422 McDougall Apt 1 Hamtramck, MI	2.0	1.0	750	$1,150	$1.53	5d	1	1.24mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.29mi
9 Woodland St Detroit, MI	1.0–2.0	1.0	637	$1,090	$1.71	17d	8	1.29mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.31mi
18084 Goddard St Detroit, MI	2.0	1.5	790	$1,050	$1.33	17d	1	1.34mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	44d	1	1.43mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	44d	1	1.47mi

Listing history 28 events

1. 2026-06-18
   days on market $129,900 Active 62 DOM
2. 2026-06-17
   days on market $129,900 Active 61 DOM
3. 2026-06-15
   days on market $129,900 Active 59 DOM
4. 2026-06-13
   days on market $129,900 Active 57 DOM
5. 2026-06-13
   days on market $129,900 Active 56 DOM
6. 2026-06-09
   days on market $129,900 Active 53 DOM
7. 2026-06-08
   days on market $129,900 Active 52 DOM
8. 2026-06-07
   days on market $129,900 Active 51 DOM
9. 2026-06-04
   days on market $129,900 Active 48 DOM
10. 2026-06-03
    days on market $129,900 Active 47 DOM
11. 2026-06-02
    days on market $129,900 Active 46 DOM
12. 2026-06-01
    days on market $129,900 Active 45 DOM
13. 2026-05-31
    days on market $129,900 Active 44 DOM
14. 2026-04-18
    listed $129,900 Active 727-char remark

    Show marketing remark (727 chars)

    Welcome home! Fully renovated from the ground up, this property offers true move-in ready living with major updates already completed, including a new roof. The interior is clean, bright, and finished with modern, neutral touches throughout. Natural light fills the space, and the layout is simple and functional for everyday living. Set on a quiet street with minimal traffic, the property offers a level of privacy that is hard to find this close to the city. An additional adjacent lot may be included for the right price, offering potential for expanded space or future use. Conveniently located in Hamtramck with quick access to Detroit, major roads, freeways, and a wide range of local restaurants and everyday amenities.

15. 2026-04-18
    listed $129,900 Active 727-char remark

    Show marketing remark (727 chars)

    Welcome home! Fully renovated from the ground up, this property offers true move-in ready living with major updates already completed, including a new roof. The interior is clean, bright, and finished with modern, neutral touches throughout. Natural light fills the space, and the layout is simple and functional for everyday living. Set on a quiet street with minimal traffic, the property offers a level of privacy that is hard to find this close to the city. An additional adjacent lot may be included for the right price, offering potential for expanded space or future use. Conveniently located in Hamtramck with quick access to Detroit, major roads, freeways, and a wide range of local restaurants and everyday amenities.

16. 2026-04-16
    historical $129,900 727-char remark

    Show marketing remark (727 chars)

    Welcome home! Fully renovated from the ground up, this property offers true move-in ready living with major updates already completed, including a new roof. The interior is clean, bright, and finished with modern, neutral touches throughout. Natural light fills the space, and the layout is simple and functional for everyday living. Set on a quiet street with minimal traffic, the property offers a level of privacy that is hard to find this close to the city. An additional adjacent lot may be included for the right price, offering potential for expanded space or future use. Conveniently located in Hamtramck with quick access to Detroit, major roads, freeways, and a wide range of local restaurants and everyday amenities.

17. 2025-10-21
    historical
18. 2025-07-10
    listed $150,000 Active
19. 2025-07-10
    listed $150,000 Active
20. 2025-07-10
    historical
21. 2025-07-10
    historical
22. 2025-06-29
    listed $160,000 Active
23. 2025-06-29
    listed $160,000 Active
24. 2025-06-29
    historical
25. 2025-06-29
    historical
26. 2025-06-26
    listed $169,900 Active
27. 2025-06-26
    listed $169,900 Active
28. 2025-06-25
    historical

ⓘ 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: $547 · $46/mo
• Projected year-2 tax: $1,274 · $106/mo
• Expected delta: +$727/yr (+$61/mo · 132.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $14,903
• − Mortgage interest: −$7,276
• − Property taxes: −$547
• − Insurance: −$650
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$3,779
• Taxable income: $266
• Est. tax owed @ 24.0%: −$64
• After-tax cash flow: $2,338/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): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• 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

-23.5% since first listed

15 events — show timeline

• 2026-04-18 Listed $129,900 REALCOMP
• 2026-04-18 Listed $129,900 MiRealSource-MiMLS
• 2026-04-16 Coming Soon $129,900 MiRealSource-MiMLS
• 2025-10-21 Listing Removed — MiRealSource-MiMLS
• 2025-07-10 Listing Removed — MiRealSource-MiMLS
• 2025-07-10 Listing Removed — REALCOMP
• 2025-07-10 Listed $150,000 MiRealSource-MiMLS
• 2025-07-10 Listed $150,000 REALCOMP
• 2025-06-29 Listed $160,000 REALCOMP
• 2025-06-29 Listing Removed — MiRealSource-MiMLS
• 2025-06-29 Listing Removed — REALCOMP
• 2025-06-29 Listed $160,000 MiRealSource-MiMLS
• 2025-06-26 Listed $169,900 MiRealSource-MiMLS
• 2025-06-26 Listed $169,900 REALCOMP
• 2025-06-25 Coming Soon — MiRealSource-MiMLS

Property tax history

-5.3%/yr

Latest (2025): $547 · +61.0% YoY. Source: county tax records.