13235 Freeland St · Detroit, MI 48227

$29,900

3 bd · 1.0 ba · 1,275 sqft · SingleFamily public records · 115 Days on market

Built 1924 4,356 sqft lot $23/sqft · 37% below area Est $47k · 37% under ↓ 46% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

Key facts

• Unfinished basement
• Large kitchen
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING ROOM
• LARGE KITCHEN
• LOW MAINTENANCE EXTERIOR
• UNFINISHED BASEMENT
• HIGH EQUITY RENOVATION PROJECT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 39.1% 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 fast (+5.6%/yr); 385 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); 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 $207 of loan paydown is wiped out by about $897 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 + 5.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $30k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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 1924 — 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: 4.43% ✓
• Cap rate: 39.09%
• Cash-on-cash: 117.12%
• DSCR: 6.21
• GRM: 1.9

CMA / ARV

• ARV (median comp): $47,394
• List price: $29,900
• Delta: -36.91%
• 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
14232 Lauder St	0.54mi	3/1.0	1,272 (-0%)	2mo	$60,000	$47	72
14063 Freeland St	0.35mi	2/1.0 (-1)	1,219 (-4%)	2mo	$23,000	$19	70
12667 Lauder St	0.37mi	3/2.0	1,200 (-6%)	7mo	$65,000	$54	63
12667 Sorrento St	0.69mi	3/1.0	1,309 (+3%)	0mo	$65,000	$50	63
13192 Schoolcraft	0.58mi	4/1.0 (+1)	1,219 (-4%)	1mo	$32,000	$26	60
13385 Robson St	0.41mi	3/1.5	1,400 (+10%)	6mo	$55,000	$39	57
13215 Prest St	0.61mi	3/1.0	1,160 (-9%)	0mo	$100,000	$86	56
13364 Coyle St	0.44mi	3/1.0	1,083 (-15%)	2mo	$95,000	$88	53
14321 Ardmore St	0.56mi	2/2.0 (-1)	1,188 (-7%)	2mo	$11,000	$9	52
14284 Cruse St	0.55mi	3/1.0	1,121 (-12%)	7mo	$25,000	$22	49
13599 Winthrop St	0.74mi	3/1.5	1,089 (-15%)	2mo	$145,000	$133	37
14400 Hubbell St	0.65mi	4/1.5 (+1)	1,444 (+13%)	4mo	$108,000	$75	37

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: —
• Equity multiple: 7.06×
• Total profit: $50,771
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 16.13×
• Total profit: $126,686
• Equity at exit: $2,585

Cash invested: $8,372 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,325 high
• Mortgage (P&I): −$157
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $817

Break-even live

Break-even rent $290

Max offer price $29,900

Occupancy floor 33%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	16d	1	0.15mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	4d	1	0.19mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	16d	1	0.28mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	43d	1	0.46mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	0.52mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	4d	1	0.55mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	43d	1	0.62mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	0.67mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	24d	1	0.71mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	43d	1	0.74mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	0.74mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	0.76mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	0.77mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	16d	1	0.90mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	24d	1	0.93mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.97mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	0.98mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	1.00mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	16d	1	1.04mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	16d	1	1.07mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	20d	1	1.07mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	17d	1	1.08mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	16d	1	1.10mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	14d	1	1.11mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	17d	1	1.12mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	43d	1	1.13mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	24d	1	1.13mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	43d	1	1.17mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	24d	1	1.21mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	21d	1	1.22mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	43d	1	1.24mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	1.26mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	43d	1	1.26mi
11641 Mansfield St Unit 2 Detroit, MI	3.0	1.0	1449	$1,300	$0.90	43d	1	1.26mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	43d	1	1.27mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	43d	1	1.27mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	1.28mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	1.28mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	1.28mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	1.28mi

Listing history 30 events

1. 2026-06-18
   days on market $29,900 Active 115 DOM
2. 2026-06-17
   days on market $29,900 Active 114 DOM
3. 2026-06-15
   days on market $29,900 Active 112 DOM
4. 2026-06-13
   days on market $29,900 Active 110 DOM
5. 2026-06-13
   days on market $29,900 Active 109 DOM
6. 2026-06-09
   days on market $29,900 Active 106 DOM
7. 2026-06-08
   days on market $29,900 Active 105 DOM
8. 2026-06-07
   days on market $29,900 Active 104 DOM
9. 2026-06-04
   days on market $29,900 Active 101 DOM
10. 2026-06-03
    days on market $29,900 Active 100 DOM
11. 2026-06-01
    days on market $29,900 Active 98 DOM
12. 2026-05-31
    days on market $29,900 Active 97 DOM
13. 2026-04-07
    price $29,900 637-char remark

    Show marketing remark (637 chars)

    Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

14. 2026-04-07
    price $29,900 637-char remark

    Show marketing remark (637 chars)

    Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

15. 2026-03-19
    price $34,900 637-char remark

    Show marketing remark (637 chars)

    Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

16. 2026-03-18
    price $34,900 637-char remark

    Show marketing remark (637 chars)

    Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

17. 2026-02-23
    listed $34,899 Active 637-char remark

    Show marketing remark (637 chars)

    Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

18. 2026-02-23
    listed $34,899 Active 637-char remark

    Show marketing remark (637 chars)

    Located near the intersection of Grand River Avenue and Schaefer Highway, this property features a functional three-bedroom, 1.1-bath layout across two stories, including a spacious 14x18 living room with a fireplace and a large 14x14 kitchen. The home sits on a 40x114 lot with a low-maintenance vinyl exterior and an 850-square-foot unfinished basement for added potential. Built in 1924 and currently vacant, this property offers immediate possession at close and is ideal for a cash buyer looking to capitalize on a high-equity renovation project in the Schoolcraft subdivision. Sold as is. Buyer and agent to verify all information.

19. 2026-01-23
    soldstatus $17,500 Closed
20. 2026-01-23
    soldstatus $17,500 Closed
21. 2026-01-12
    status Pending
22. 2026-01-12
    status Pending
23. 2025-10-17
    price $40,000
24. 2025-10-17
    price $40,000
25. 2025-09-12
    price $45,000
26. 2025-09-11
    price $45,000
27. 2025-07-18
    price $50,000
28. 2025-07-18
    price $50,000
29. 2025-06-13
    listed $55,000 Active
30. 2025-06-13
    listed $55,000 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: $722 · $60/mo
• Projected year-2 tax: $722 · $60/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 ≥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: $15,897
• − Mortgage interest: −$1,675
• − Property taxes: −$722
• − Insurance: −$150
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$870
• Taxable income: $9,937
• Est. tax owed @ 24.0%: −$2,385
• After-tax cash flow: $7,420/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

-45.6% since first listed

18 events — show timeline

• 2026-04-07 Price Changed $29,900 MiRealSource-MiMLS
• 2026-04-07 Price Changed $29,900 REALCOMP
• 2026-03-19 Price Changed $34,900 MiRealSource-MiMLS
• 2026-03-18 Price Changed $34,900 REALCOMP
• 2026-02-23 Listed $34,899 REALCOMP
• 2026-02-23 Listed $34,899 MiRealSource-MiMLS
• 2026-01-23 Sold (MLS) $17,500 REALCOMP
• 2026-01-23 Sold (MLS) $17,500 MiRealSource-MiMLS
• 2026-01-12 Pending — MiRealSource-MiMLS
• 2026-01-12 Pending — REALCOMP
• 2025-10-17 Price Changed $40,000 MiRealSource-MiMLS
• 2025-10-17 Price Changed $40,000 REALCOMP
• 2025-09-12 Price Changed $45,000 MiRealSource-MiMLS
• 2025-09-11 Price Changed $45,000 REALCOMP
• 2025-07-18 Price Changed $50,000 MiRealSource-MiMLS
• 2025-07-18 Price Changed $50,000 REALCOMP
• 2025-06-13 Listed $55,000 REALCOMP
• 2025-06-13 Listed $55,000 MiRealSource-MiMLS

Property tax history

-0.1%/yr

Latest (2025): $722 · -37.8% YoY. Source: county tax records.