12256 Pearl St · Southgate, MI 48195

$179,900

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 2 Days on market

Built 1948 4,792 sqft lot Est $174k · at est.

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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 +14.6/30.0
• ARV discount +6.1/15.0
• DSCR +4.5/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +3.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom bungalow with detached garage and fenced yard. Unfinished basement. This is a FannieMae HomePath property. Purchase for as little as 3%down! Appvd for Homepath Renovation Mtg financing. No investor offers til 15DOM.

Key facts

• Higher ceilings
• Extra-large closets
• Natural light

Tags

• MODERN OPEN FLOOR PLAN
• STUNNING KITCHEN
• GAS STOVE BUILT INTO ISLAND
• HIGHER CEILINGS
• NATURAL LIGHT
• EXTRA-LARGE CLOSETS

Property features AI

Exterior

• Parking: Detached garage; Approximately 2.5 garage parking spaces
• Utilities: Public water; Natural gas; Public sewer (assumed); Electric service
• Home design: Residential 1 1/2‑story home; Built in 1948; Basement present
• Construction: Aluminum construction; Basement foundation; Year built: 1948
• Exterior features: Aluminum exterior; Paved street access; Frontage approx. 40'

Interior

• Kitchen: Kitchen on entry level (approx. 8 x 8); Range/Oven; Refrigerator; Disposal
• Bedrooms: Primary bedroom on second level (approx. 23 x 16); Second bedroom on entry level (approx. 10 x 8); Third bedroom on entry level (width approx. 9')
• Bathrooms: 1 full bathroom on entry level (approx. 9 x 6)
• Heating & cooling: Forced air heating (natural gas); Central A/C
• Interior features: 7 total rooms; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $43 ($516/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 $160k (11.0% below list).
• Recommended offer: $160k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.2% in Southgate — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 85/100 on livability (#29 in MI, #582 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D-.
• Southgate Community School District (suburban): math 21% / reading 36% proficiency, ranked #379 of 540 in MI (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Shelters Elementary School (math 27% / reading 37%, grade F, #814 of 1,397 statewide, top 61%, 272 students, 58% FRL); Davidson Middle School (math 23% / reading 36%, grade F, #343 of 493 statewide, top 72%, 631 students, 52% FRL); Southgate Anderson High School (math 22% / reading 62%, grade F, #264 of 713 statewide, top 41%, 990 students, 45% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 117 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 20y 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 $36k; list at $180k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,070 (11.0% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $174,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13080 Poplar St	0.49mi	3/1.0	1,120 (-2%)	1mo	$227,500	$203	73
4166 Porter Ave	0.38mi	3/1.0	1,188 (+4%)	2mo	$128,000	$108	73
13315 Birrell St	0.54mi	3/1.0	1,130 (-1%)	3mo	$135,000	$119	71
1660 Goddard Rd	0.61mi	3/1.0	1,174 (+3%)	1mo	$188,000	$160	66
2194 Leblanc St	0.58mi	3/1.0	1,169 (+2%)	4mo	$139,000	$119	66
12984 Callender St	0.73mi	3/1.0	1,108 (-3%)	1mo	$203,500	$184	60
13668 Agnes St	0.73mi	3/1.5	1,180 (+4%)	0mo	$180,000	$153	58
4137 Duplex Ave	0.72mi	3/1.0	1,200 (+5%)	1mo	$206,000	$172	57
11306 Lenoir St	0.53mi	3/2.5	1,069 (-6%)	3mo	$272,000	$254	56
1819 Goddard Rd	0.43mi	3/2.0	994 (-13%)	2mo	$70,000	$70	53
4022 Helen Ave	0.47mi	3/2.0	1,285 (+13%)	2mo	$185,000	$144	51
1835 Ford Blvd	0.54mi	2/2.0 (-1)	1,250 (+10%)	4mo	$122,500	$98	46

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-24,711
• Equity at exit: $26,824

10-year hold

• IRR: -3.1%
• Equity multiple: 0.78×
• Total profit: $-10,855
• Equity at exit: $15,554

Cash invested: $50,372 (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 48195

• Rents YoY: 4.0%
• Active inventory: 117
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,601 high
• Mortgage (P&I): −$943
• Tax from tax record: −$203 /mo · $2,438/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $43

Break-even live

Break-even rent $1,546

Max offer price $179,900

Occupancy floor 92%

Sensitivity live

Price	-10% $145	-5% $94	+0% $43	+5% $-8	+10% $-59
Rent	-10% $-83	-5% $-20	+0% $43	+5% $106	+10% $169
Rate	-1.0pp $134	-0.5pp $89	base $43	+0.5pp $-4	+1.0pp $-51

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4163 Burns Ave Lincoln Park, MI	3.0	1.0	900	$1,500	$1.67	3d	1	0.42mi
11400 Fordline St Allen Park, MI	1.0–2.0	1.0	880	$1,400	$1.59	0d	1	0.48mi
1760 Saint Johns Blvd Apt 14 Lincoln Park, MI	2.0	1.0	750	$995	$1.33	26d	1	0.53mi
1750 Saint Johns Blvd Unit 17 Lincoln Park, MI	2.0	1.0	750	$1,025	$1.37	26d	1	0.53mi
13165 Turnberry Ct Southgate, MI	2.0	2.0	1275	$1,795	$1.41	45d	1	0.75mi
13165 Turnberry Ct Southgate, MI	2.0	2.0	1275	$1,795	$1.41	6d	1	0.75mi
13020 Pullman St Southgate, MI	4.0	1.0	1050	$1,550	$1.48	4d	1	0.79mi
12939 Devoe St Southgate, MI	3.0	1.0	1177	$1,695	$1.44	45d	1	0.85mi
13210 Village Park Dr Southgate, MI	2.0	1.0	630	$1,125	$1.78	0d	9	0.88mi
1130 21st St Wyandotte, MI	3.0	1.0	864	$1,420	$1.64	0d	1	0.98mi
13750 Village Green Blvd Southgate, MI	1.0–2.0	1.0	862	$1,620	$1.88	0d	10	1.03mi
1650 19th St Wyandotte, MI	3.0	2.0	1100	$1,899	$1.73	20d	1	1.11mi
1163 17th St Wyandotte, MI	3.0	1.0	1010	$1,695	$1.68	45d	1	1.23mi
854 Harrison Blvd Lincoln Park, MI	3.0	1.0	1410	$1,750	$1.24	45d	1	1.28mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	6d	1	1.38mi
9725 Fox Ave Allen Park, MI	3.0	1.5	940	$1,850	$1.97	45d	1	1.39mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	4d	1	1.40mi
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	26d	1	1.40mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	4d	1	1.42mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	26d	1	1.42mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	20d	1	1.43mi
13185 Sycamore St Southgate, MI	3.0	1.0	1080	$1,700	$1.57	26d	1	1.45mi

Listing history 5 events

1. 2026-06-17
   status $179,900 Pending 2 DOM
2. 2026-06-16
   days on market $179,900 Active 2 DOM
3. 2026-06-15
   listing id $179,900 Active 1 DOM
4. 2026-06-13
   remarks 699-char remark
5. 2026-06-13
   listed $179,900 Active 1 DOM

ⓘ 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: $2,438 · $203/mo
• Projected year-2 tax: $2,604 · $217/mo
• Expected delta: +$166/yr (+$14/mo · 6.8%)

ⓘ 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,208
• − Mortgage interest: −$10,077
• − Property taxes: −$2,438
• − Insurance: −$900
• − Repairs & maintenance: −$1,537
• − Management: −$1,537
• − Depreciation: −$5,233
• Taxable loss: −$2,513
• Est. tax savings @ 24.0%: +$603
• After-tax cash flow: $1,119/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: Southgate Community School District
• NCES district ID: 2632340
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $49,234
• Composite: 24.83/100
• National rank: #7591
• State rank: #379 of 540 in MI

Livability — Southgate

• Score: 85/100
• State rank: #29
• US rank: #582

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D- Employment B- Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southgate, MI
• County: Wayne County · 1,562,939 people
• City population: 29,366
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 29,366
• Household income: $66,118
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 727.0

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 White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Black 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 4% Spanish 3% Other Asian/Pacific 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: ▼ -187.28%
• Current HPI: 207.9776
• Rent YoY: ▲ 4.04%
• 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

+32.3% since first listed

27 events — show timeline

• 2026-06-13 Listed $179,900 MiRealSource-MiMLS
• 2026-06-12 Coming Soon $179,900 MiRealSource-MiMLS
• 2012-05-23 Sold (MLS) $36,000 REALCOMP
• 2012-05-23 Sold (MLS) $36,000 MiRealSource-MiMLS
• 2012-05-11 Listing Removed — REALCOMP
• 2012-05-11 Listing Removed — MiRealSource-MiMLS
• 2011-12-20 Listed $36,900 REALCOMP
• 2011-12-20 Listed $36,900 MiRealSource-MiMLS
• 2011-10-12 Listing Removed — MiRealSource-MiMLS
• 2011-10-12 Listing Removed — REALCOMP
• 2011-08-25 Listing Removed — REALCOMP
• 2011-08-25 Listing Removed — MiRealSource-MiMLS
• 2011-02-16 Listed $39,900 REALCOMP
• 2011-02-16 Listed $39,900 MiRealSource-MiMLS
• 2011-02-16 Listed $39,900 MiRealSource-MiMLS
• 2011-02-16 Listed $39,900 REALCOMP
• 2008-05-09 Listing Removed — MiRealSource-MiMLS
• 2008-04-16 Listing Removed — REALCOMP
• 2007-05-15 Listed $114,900 REALCOMP
• 2007-05-09 Listed $114,900 REALCOMP
• 2007-05-09 Listed $114,900 MiRealSource-MiMLS
• 2007-05-08 Listing Removed — REALCOMP
• 2007-04-03 Listing Removed — REALCOMP
• 2007-04-03 Listed $124,900 REALCOMP
• 2007-01-03 Listing Removed — REALCOMP
• 2007-01-03 Listed $130,000 REALCOMP
• 2006-11-02 Listed $136,000 REALCOMP

Property tax history

+3.4%/yr

Latest (2025): $2,438 · +3.6% YoY. Source: county tax records.