12699 Greenlawn St · Detroit, MI 48238

$68,900

3 bd · 1.0 ba · 1,209 sqft · SingleFamily public records · 41 Days on market

Built 1924 3,485 sqft lot $57/sqft · 27% above area Est $54k · 27% 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 +4.0/5.0
• 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

Previously rented at $1,350/month, this property offers great cash flow potential for investors or a perfect opportunity for an owner-occupant. Currently vacant and ready for its next homeowner or investor. Long driveway provides plenty of parking, conveniently located near major freeways offering easy access to shopping, dining, and downtown. Home being sold strictly as-is. BATVAI. Licensed agent must be present for all showings and inspections.

Key facts

• 3,485 sq ft lot
• Built 1924
• Listed 40 days

Property features AI

Exterior

• Parking: Driveway; no garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps; Vinyl siding
• Construction: Asphalt roof
• Exterior features: Front porch; Paved road access; Lot approximately 0.08 acres (35 x 94.87)

Interior

• Kitchen: Gas water heater
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Living room fireplace; Unfinished basement
• Laundry & utility: Has heating (Forced Air, Natural Gas)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% 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: Rents rising fast (+6.1%/yr); 346 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 44% of the median local income ($33k/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 $476 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 + 6.1% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $69k implies a 430% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,833 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. 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: 1.76% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.37%
• DSCR: 1.91
• GRM: 4.7

CMA / ARV

• ARV (median comp): $54,110
• List price: $68,900
• Delta: 27.33%
• 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
13581 Cloverlawn St	0.37mi	4/2.0 (+1)	1,240 (+3%)	4mo	$143,000	$115	66
13903 Cloverlawn Ave	0.45mi	3/1.5	1,265 (+5%)	5mo	$140,000	$111	65
13586 Indiana St	0.49mi	3/1.0	1,298 (+7%)	2mo	$30,000	$23	63
13124 Kentucky St	0.42mi	3/1.5	1,140 (-6%)	10mo	$31,000	$27	61
12754 Mendota St	0.72mi	3/1.0	1,224 (+1%)	8mo	$28,500	$23	58
12651 Washburn St	0.53mi	3/1.0	1,273 (+5%)	13mo	$30,000	$24	56
14203 Cherrylawn St	0.69mi	3/2.0	1,250 (+3%)	5mo	$58,000	$46	54
13916 Wisconsin St	0.54mi	3/1.0	1,294 (+7%)	12mo	$5,900	$5	53
12610 Ilene St	0.56mi	4/2.0 (+1)	1,285 (+6%)	9mo	$36,750	$29	47
12440 Mendota St	0.75mi	3/1.0	1,035 (-14%)	2mo	$39,999	$39	40
14249 Cloverlawn St	0.71mi	3/1.0	1,035 (-14%)	5mo	$69,000	$67	38
4835 Cortland St	0.68mi	3/1.5	1,364 (+13%)	13mo	$12,500	$9	34

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 1.71×
• Total profit: $13,758
• Equity at exit: $10,273

10-year hold

• IRR: 28.0%
• Equity multiple: 3.93×
• Total profit: $56,586
• Equity at exit: $5,957

Cash invested: $19,292 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,212 high
• Mortgage (P&I): −$361
• Tax from tax record: −$240 /mo · $2,878/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $328

Break-even live

Break-even rent $797

Max offer price $68,900

Occupancy floor 68%

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	20d	1	0.16mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	43d	1	0.22mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	0.38mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	0.45mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	12d	1	0.46mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	22d	1	0.48mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	18d	1	0.48mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	0.56mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.57mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	17d	1	0.57mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.57mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	20d	1	0.58mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.59mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	0.62mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	0.70mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	24d	1	0.72mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	43d	1	0.72mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	43d	1	0.73mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	43d	1	0.77mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	43d	1	0.78mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	43d	1	0.85mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.90mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	17d	1	0.91mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	0.93mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	43d	1	0.93mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	43d	1	0.96mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	43d	1	0.97mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	16d	1	0.99mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	16d	1	0.99mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	12d	1	1.01mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	16d	1	1.02mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	1.03mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	43d	1	1.04mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.07mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.07mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	43d	1	1.15mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	1.15mi
10345 Crocuslawn Ave Unit 2 Detroit, MI	2.0	1.0	850	$950	$1.12	43d	1	1.16mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	1.17mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	43d	1	1.17mi

Listing history 27 events

1. 2026-06-18
   days on market $68,900 Active 41 DOM
2. 2026-06-17
   days on market $68,900 Active 40 DOM
3. 2026-06-15
   days on market $68,900 Active 38 DOM
4. 2026-06-13
   days on market $68,900 Active 36 DOM
5. 2026-06-13
   days on market $68,900 Active 35 DOM
6. 2026-06-09
   days on market $68,900 Active 32 DOM

   Show marketing remark (450 chars)

   Previously rented at $1,350/month, this property offers great cash flow potential for investors or a perfect opportunity for an owner-occupant. Currently vacant and ready for its next homeowner or investor. Long driveway provides plenty of parking, conveniently located near major freeways offering easy access to shopping, dining, and downtown. Home being sold strictly as-is. BATVAI. Licensed agent must be present for all showings and inspections.

7. 2026-06-08
   pricedays on market $68,900 Active 31 DOM
8. 2026-06-07
   days on market $74,900 Active 30 DOM
9. 2026-06-04
   days on market $74,900 Active 27 DOM
10. 2026-06-03
    days on market $74,900 Active 26 DOM
11. 2026-06-02
    days on market $74,900 Active 25 DOM
12. 2026-06-01
    days on market $74,900 Active 24 DOM
13. 2026-05-31
    days on market $74,900 Active 23 DOM
14. 2026-05-09
    listed $74,900 Active 450-char remark

    Show marketing remark (450 chars)

    Previously rented at $1,350/month, this property offers great cash flow potential for investors or a perfect opportunity for an owner-occupant. Currently vacant and ready for its next homeowner or investor. Long driveway provides plenty of parking, conveniently located near major freeways offering easy access to shopping, dining, and downtown. Home being sold strictly as-is. BATVAI. Licensed agent must be present for all showings and inspections.

15. 2026-05-09
    listed $74,900 Active 450-char remark

    Show marketing remark (450 chars)

    Previously rented at $1,350/month, this property offers great cash flow potential for investors or a perfect opportunity for an owner-occupant. Currently vacant and ready for its next homeowner or investor. Long driveway provides plenty of parking, conveniently located near major freeways offering easy access to shopping, dining, and downtown. Home being sold strictly as-is. BATVAI. Licensed agent must be present for all showings and inspections.

16. 2026-05-06
    historical $74,900 450-char remark

    Show marketing remark (450 chars)

    Previously rented at $1,350/month, this property offers great cash flow potential for investors or a perfect opportunity for an owner-occupant. Currently vacant and ready for its next homeowner or investor. Long driveway provides plenty of parking, conveniently located near major freeways offering easy access to shopping, dining, and downtown. Home being sold strictly as-is. BATVAI. Licensed agent must be present for all showings and inspections.

17. 2026-01-21
    historical
18. 2026-01-21
    historical
19. 2025-09-06
    listed $84,900 Active
20. 2025-09-06
    listed $84,900 Active
21. 2025-09-03
    historical
22. 2024-04-10
    soldstatus $13,000 Sold
23. 2024-04-10
    soldstatus $13,000 Closed
24. 2024-03-27
    status Pending
25. 2024-03-27
    status Pending
26. 2024-03-18
    listed $10,000 Active
27. 2024-03-18
    listed $10,000 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: $2,878 · $240/mo
• Projected year-2 tax: $2,878 · $240/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: $14,542
• − Mortgage interest: −$3,859
• − Property taxes: −$2,878
• − Insurance: −$344
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$2,004
• Taxable income: $3,130
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $3,179/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+589.0% since first listed

16 events — show timeline

• 2026-06-09 Price Changed $68,900 MiRealSource-MiMLS
• 2026-06-08 Price Changed $68,900 REALCOMP
• 2026-05-09 Listed $74,900 MiRealSource-MiMLS
• 2026-05-09 Listed $74,900 REALCOMP
• 2026-05-06 Coming Soon $74,900 MiRealSource-MiMLS
• 2026-01-21 Listing Removed — MiRealSource-MiMLS
• 2026-01-21 Listing Removed — REALCOMP
• 2025-09-06 Listed $84,900 MiRealSource-MiMLS
• 2025-09-06 Listed $84,900 REALCOMP
• 2025-09-03 Coming Soon — MiRealSource-MiMLS
• 2024-04-10 Sold (MLS) $13,000 MiRealSource-MiMLS
• 2024-04-10 Sold (MLS) $13,000 REALCOMP
• 2024-03-27 Pending — MiRealSource-MiMLS
• 2024-03-27 Pending — REALCOMP
• 2024-03-18 Listed $10,000 MiRealSource-MiMLS
• 2024-03-18 Listed $10,000 REALCOMP

Property tax history

+8.7%/yr

Latest (2025): $2,878 · +9.0% YoY. Source: county tax records.