12675 August St · Detroit, MI 48205

$80,000

3 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 113 Days on market

Built 1923 3,485 sqft lot $73/sqft · 42% above area Est $56k · 42% 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
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• 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

INVESTOR SPECIAL! 3-bedroom, 1-bath bungalow ready for your vision. A perfect opportunity for investors, flippers, or buyers looking to add value.

Key facts

• 3,485 sq ft lot
• Garage
• Built 1923

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: Rents rising (+1.3%/yr); 373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 41% of the median local income ($39k/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 $553 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 + 1.3% 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 113 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $2k; list at $80k implies a 4111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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: 1.68% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.42%
• DSCR: 2.35
• GRM: 5.0

CMA / ARV

• ARV (median comp): $56,302
• List price: $80,000
• Delta: 42.09%
• 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
12112 Findlay St	0.37mi	3/1.0	1,026 (-7%)	0mo	$23,000	$22	71
13124 Flanders St	0.41mi	3/2.0	1,150 (+5%)	0mo	$115,000	$100	69
12019 Sanford St	0.49mi	3/1.0	1,149 (+5%)	2mo	$31,500	$27	68
13302 Jane St	0.41mi	3/1.0	1,024 (-7%)	4mo	$37,000	$36	67
8801 E Outer Dr	0.55mi	3/1.5	1,047 (-5%)	1mo	$40,000	$38	64
12802 Dresden St	0.53mi	3/1.0	1,152 (+5%)	5mo	$25,000	$22	63
8750 E Outer Dr	0.60mi	3/1.0	1,070 (-3%)	7mo	$102,000	$95	62
13312 Jane St	0.42mi	3/1.0	1,190 (+8%)	6mo	$124,000	$104	62
13001 Promenade St	0.66mi	3/1.0	1,124 (+2%)	6mo	$73,800	$66	60
12000 Findlay St	0.49mi	3/1.0	1,000 (-9%)	4mo	$62,500	$63	59
11566 Sanford St	0.72mi	3/1.0	1,048 (-5%)	2mo	$55,000	$52	57
17330 Waltham St	0.61mi	4/1.0 (+1)	1,020 (-7%)	8mo	$51,400	$50	48

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.94×
• Total profit: $20,960
• Equity at exit: $11,928

10-year hold

• IRR: 30.1%
• Equity multiple: 3.50×
• Total profit: $55,929
• Equity at exit: $6,917

Cash invested: $22,400 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,346 high
• Mortgage (P&I): −$420
• Tax from tax record: −$43 /mo · $513/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $568

Break-even live

Break-even rent $627

Max offer price $80,000

Occupancy floor 53%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	0.05mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.40mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.40mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	0.50mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	0.57mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	0.59mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	0.65mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	0.67mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	0.72mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.73mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	0.75mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.78mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	0.83mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	0.86mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	0.89mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	0.89mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	0.94mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.99mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.99mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.02mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	1.03mi
18681 Barlow St Detroit, MI	3.0	1.0	1041	$1,400	$1.34	24d	1	1.03mi
11513 Greiner St Unit 11521 Greiner Detroit, MI	2.0	1.0	942	$1,050	$1.11	44d	1	1.09mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.10mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.14mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	1.16mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	1.17mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.21mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	17d	1	1.23mi
18431 Teppert St Detroit, MI	4.0	1.0	1200	$1,400	$1.17	2d	1	1.32mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.32mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	1.36mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.37mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.40mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.42mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.42mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.43mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	18d	1	1.48mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.48mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $80,000 Active 113 DOM
2. 2026-06-17
   days on market $80,000 Active 112 DOM
3. 2026-06-15
   days on market $80,000 Active 110 DOM
4. 2026-06-13
   days on market $80,000 Active 108 DOM
5. 2026-06-13
   days on market $80,000 Active 107 DOM
6. 2026-06-09
   days on market $80,000 Active 104 DOM
7. 2026-06-08
   days on market $80,000 Active 103 DOM
8. 2026-06-07
   days on market $80,000 Active 102 DOM
9. 2026-06-04
   days on market $80,000 Active 99 DOM
10. 2026-06-03
    days on market $80,000 Active 98 DOM
11. 2026-06-01
    days on market $80,000 Active 96 DOM
12. 2026-05-31
    days on market $80,000 Active 95 DOM
13. 2026-03-22
    status Active 146-char remark

    Show marketing remark (146 chars)

    INVESTOR SPECIAL! 3-bedroom, 1-bath bungalow ready for your vision. A perfect opportunity for investors, flippers, or buyers looking to add value.

14. 2026-03-21
    historical 146-char remark

    Show marketing remark (146 chars)

    INVESTOR SPECIAL! 3-bedroom, 1-bath bungalow ready for your vision. A perfect opportunity for investors, flippers, or buyers looking to add value.

15. 2026-02-24
    listed $80,000 Active 146-char remark

    Show marketing remark (146 chars)

    INVESTOR SPECIAL! 3-bedroom, 1-bath bungalow ready for your vision. A perfect opportunity for investors, flippers, or buyers looking to add value.

16. 2026-02-24
    listed $80,000 Active 146-char remark

    Show marketing remark (146 chars)

    INVESTOR SPECIAL! 3-bedroom, 1-bath bungalow ready for your vision. A perfect opportunity for investors, flippers, or buyers looking to add value.

17. 2011-04-20
    soldstatus $1,900
18. 2011-04-20
    soldstatus $1,900
19. 2011-03-17
    listed $2,120
20. 2011-03-17
    listed $2,120

ⓘ 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: $513 · $43/mo
• Projected year-2 tax: $873 · $73/mo
• Expected delta: +$359/yr (+$30/mo · 70.0%)

ⓘ 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 ≥96°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: $16,153
• − Mortgage interest: −$4,481
• − Property taxes: −$513
• − Insurance: −$400
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$2,327
• Taxable income: $5,847
• Est. tax owed @ 24.0%: −$1,403
• After-tax cash flow: $5,410/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+3673.6% since first listed

8 events — show timeline

• 2026-03-22 Relisted — REALCOMP
• 2026-03-21 Listing Removed — REALCOMP
• 2026-02-24 Listed $80,000 MiRealSource-MiMLS
• 2026-02-24 Listed $80,000 REALCOMP
• 2011-04-20 Sold (MLS) $1,900 MiRealSource-MiMLS
• 2011-04-20 Sold (MLS) $1,900 REALCOMP
• 2011-03-17 Listed $2,120 MiRealSource-MiMLS
• 2011-03-17 Listed $2,120 REALCOMP

Property tax history

-5.3%/yr

Latest (2025): $513 · -63.5% YoY. Source: county tax records.