11334 Balfour Rd · Detroit, MI 48224

$139,500

3 bd · 1.0 ba · 1,282 sqft · SingleFamily public records · 55 Days on market

Built 1940 5,227 sqft lot $109/sqft · 119% above area Est $124k · 13% over

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Why this score? — see what drove the D 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 +19.8/30.0
• DSCR +6.3/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charm and comfort await in this classic 3-bedroom brick bungalow, boasting 2 full bathrooms and an array of modern updates. The heart of this home is its beautiful kitchen, featuring sleek granite countertops and stainless steel appliances, perfect for culinary adventures. Cozy evenings are guaranteed with the natural fireplace, while the partial finished basement offers extra space for relaxation or entertainment. Enjoy peace of mind with a newer furnace and the convenience of central air. Outside, a spacious deck overlooks the fenced yard, ideal for gatherings or quiet moments alike. The detached 1-car garage provides additional storage or parking space. And yes, this picturesque home, framed by a white picket fence, is just missing one thing – you and your family. Make it yours and create lasting memories in this inviting space.

Key facts

• Brick bungalow
• Newer furnace
• Natural fireplace

Tags

• BRICK BUNGALOW
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NATURAL FIREPLACE
• PARTIAL FINISHED BASEMENT
• NEWER FURNACE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry
• Construction: Brick construction
• Exterior features: Paved road access; Lot dimensions approximately 40 x 126 (0.12 acre)

Interior

• Kitchen: Free-standing gas oven; Free-standing refrigerator; Stainless steel appliances
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Living room wood-burning fireplace; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $166 ($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 $136k (2.8% below list).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: 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.
• Zoned schools: Carleton Elementary School (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 392 students, 96% FRL); Fisher Magnet Upper Academy (math 15% / reading 44%, grade F, #341 of 493 statewide, top 69%, 378 students, 93% FRL); Denby High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 537 students, 88% FRL) — zoned schools at 92% FRL track the district average.
• Market conditions: Rents flat; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 36% of the median local income ($45k/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 $964 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 55 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 6 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,315 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.97% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (median comp): $123,670
• List price: $139,500
• Delta: 12.80%
• 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
10901 Worden St	0.09mi	3/1.5	1,271 (-1%)	1mo	$43,000	$34	91
11090 Mckinney St	0.10mi	3/1.5	1,270 (-1%)	2mo	$154,000	$121	90
11160 Worden St	0.24mi	3/2.0	1,234 (-4%)	1mo	$156,000	$126	78
11960 Rossiter St	0.36mi	3/1.0	1,164 (-9%)	2mo	$84,000	$72	66
18981 Kenosha St	0.73mi	3/1.5	1,290 (+1%)	2mo	$77,500	$60	61
9369 Sanilac St	0.41mi	3/1.0	1,124 (-12%)	1mo	$65,000	$58	59
19904 Washtenaw St	0.41mi	3/1.5	1,119 (-13%)	0mo	$96,000	$86	57
9922 Yorkshire Rd	0.64mi	3/2.0	1,342 (+5%)	2mo	$75,000	$56	57
11742 Whitehill St	0.73mi	3/1.5	1,228 (-4%)	1mo	$61,000	$50	56
9722 Everts St	0.75mi	3/1.0	1,178 (-8%)	1mo	$147,000	$125	51
20644 Mccormick St	0.56mi	3/2.0	1,152 (-10%)	2mo	$91,000	$79	51
6230 Oldtown St	0.67mi	3/1.0	1,149 (-10%)	2mo	$76,000	$66	50

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-15,051
• Equity at exit: $20,800

10-year hold

• IRR: -4.9%
• Equity multiple: 0.71×
• Total profit: $-11,402
• Equity at exit: $12,061

Cash invested: $39,060 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$732
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $166

Break-even live

Break-even rent $1,146

Max offer price $139,500

Occupancy floor 83%

Sensitivity live

Price	-10% $245	-5% $206	+0% $166	+5% $127	+10% $87
Rent	-10% $59	-5% $113	+0% $166	+5% $220	+10% $274
Rate	-1.0pp $237	-0.5pp $202	base $166	+0.5pp $130	+1.0pp $93

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.22mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	14d	1	0.23mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	19d	1	0.28mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.33mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.34mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.34mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	13d	1	0.37mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.38mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.42mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	19d	1	0.42mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.42mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	19d	1	0.43mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	19d	1	0.45mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	19d	1	0.45mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	19d	1	0.45mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	45d	1	0.51mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	0.51mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.51mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	0.52mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	26d	1	0.53mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	0.54mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.55mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	45d	1	0.56mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	45d	1	0.64mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.66mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	19d	1	0.67mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.67mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	5d	1	0.68mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.69mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.69mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	0.70mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	22d	1	0.73mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	19d	1	0.73mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.74mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	45d	1	0.76mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	0.76mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	19d	1	0.79mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	14d	1	0.80mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	0d	1	0.80mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.82mi

Listing history 23 events

1. 2026-06-21
   days on market $139,500 Active 55 DOM
2. 2026-06-18
   days on market $139,500 Active 52 DOM
3. 2026-06-17
   days on market $139,500 Active 51 DOM
4. 2026-06-15
   days on market $139,500 Active 49 DOM
5. 2026-06-13
   days on market $139,500 Active 47 DOM
6. 2026-06-13
   days on market $139,500 Active 46 DOM
7. 2026-06-09
   days on market $139,500 Active 43 DOM
8. 2026-06-08
   days on market $139,500 Active 42 DOM
9. 2026-06-07
   days on market $139,500 Active 41 DOM
10. 2026-06-04
    days on market $139,500 Active 38 DOM
11. 2026-06-03
    days on market $139,500 Active 37 DOM
12. 2026-06-02
    days on market $139,500 Active 36 DOM
13. 2026-06-01
    days on market $139,500 Active 35 DOM
14. 2026-05-31
    days on market $139,500 Active 34 DOM
15. 2026-04-27
    listed $139,500 Active 849-char remark

    Show marketing remark (862 chars)

    Charm and comfort await in this classic 3-bedroom brick bungalow, boasting 2 full bathrooms and an array of modern updates. The heart of this home is its beautiful kitchen, featuring sleek granite countertops and stainless steel appliances, perfect for culinary adventures. Cozy evenings are guaranteed with the natural fireplace, while the partial finished basement offers extra space for relaxation or entertainment. Enjoy peace of mind with a newer furnace and the convenience of central air. Outside, a spacious deck overlooks the fenced yard, ideal for gatherings or quiet moments alike. The detached 1-car garage provides additional storage or parking space. And yes, this picturesque home, framed by a white picket fence, is just missing one thing – you and your family. Make it yours and create lasting memories in this inviting space.

16. 2026-04-27
    listed $139,500 Active 862-char remark

    Show marketing remark (862 chars)

    Charm and comfort await in this classic 3-bedroom brick bungalow, boasting 2 full bathrooms and an array of modern updates. The heart of this home is its beautiful kitchen, featuring sleek granite countertops and stainless steel appliances, perfect for culinary adventures. Cozy evenings are guaranteed with the natural fireplace, while the partial finished basement offers extra space for relaxation or entertainment. Enjoy peace of mind with a newer furnace and the convenience of central air. Outside, a spacious deck overlooks the fenced yard, ideal for gatherings or quiet moments alike. The detached 1-car garage provides additional storage or parking space. And yes, this picturesque home, framed by a white picket fence, is just missing one thing – you and your family. Make it yours and create lasting memories in this inviting space.

17. 2026-04-26
    historical
18. 2026-04-26
    historical
19. 2026-02-25
    listed $139,500 Active
20. 2026-02-25
    listed $139,500 Active
21. 2026-02-25
    historical
22. 2026-01-10
    listed $139,500 Active
23. 2026-01-09
    listed $139,500 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: $1,387 · $116/mo
• Projected year-2 tax: $1,768 · $147/mo
• Expected delta: +$381/yr (+$32/mo · 27.4%)

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,279
• − Mortgage interest: −$7,814
• − Property taxes: −$1,387
• − Insurance: −$698
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − Depreciation: −$4,058
• Taxable loss: −$283
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $2,065/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+0.0% since first listed

9 events — show timeline

• 2026-04-27 Listed $139,500 MiRealSource-MiMLS
• 2026-04-27 Listed $139,500 REALCOMP
• 2026-04-26 Listing Removed — MiRealSource-MiMLS
• 2026-04-26 Listing Removed — REALCOMP
• 2026-02-25 Listed $139,500 REALCOMP
• 2026-02-25 Listing Removed — MiRealSource-MiMLS
• 2026-02-25 Listed $139,500 MiRealSource-MiMLS
• 2026-01-10 Listed $139,500 REALCOMP
• 2026-01-09 Listed $139,500 MiRealSource-MiMLS

Property tax history

-3.8%/yr

Latest (2025): $1,387 · -0.6% YoY. Source: county tax records.