12304 Wyoming Ave · Detroit, MI 48204

$35,000

3 bd · 1.0 ba · 1,330 sqft · SingleFamily public records · 13 Days on market

Built 1920 3,920 sqft lot Est $55k · 36% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Great opportunity for investors or handy homeowners! This 3-bedroom, 3-bath home sits on a desirable corner lot and features a full basement and a detached 2-car garage. The property offers plenty of space and potential but will require interior updates and repairs. With the right vision and improvements, this home could make an excellent fix-and-flip, rental, or owner-occupant project. Conveniently located near local amenities, schools, parks, and major roadways. Property is being sold as-is. Buyer to verify all information and measurements. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Other: Directions: I-96 to S. on Wyoming, 4 blocks; Cross street: S of I-96 W of Livernois; Listing broker: Wise Property Buyers
• Financial info: Tax information not included per instructions
• HOA & community: Subdivision: GREENFIELD PARK

Exterior

• Parking: Detached 2-car garage
• Security: No specific security features provided
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Vinyl siding; Asphalt roof; Facing direction not specified
• Construction: Vinyl siding construction; Asphalt roof; Unfinished basement
• Exterior features: Porch; Fenced yard; Paved road access

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Rooms total: 6
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Lighting; Unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 31.3% 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: 244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 42% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($242 loan paydown + $4k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1920 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.44% ✓
• Cap rate: 31.33%
• Cash-on-cash: 89.42%
• DSCR: 4.98
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $54,530
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12162 Kentucky St	0.06mi	3/1.0	1,415 (+6%)	4mo	$42,000	$30	83
12027 Manor St	0.50mi	3/1.0	1,340 (+1%)	3mo	$86,750	$65	73
11931 Wisconsin St	0.17mi	3/3.0	1,407 (+6%)	5mo	$135,900	$97	70
13586 Indiana St	0.58mi	3/1.0	1,298 (-2%)	2mo	$30,000	$23	68
12096 Meyers Rd	0.50mi	3/1.0	1,248 (-6%)	0mo	$30,000	$24	66
12303 Cloverlawn St	0.34mi	3/1.5	1,454 (+9%)	4mo	$58,500	$40	64
12667 Sorrento St	0.73mi	3/1.0	1,309 (-2%)	0mo	$65,000	$50	63
10340 Maplelawn St	0.67mi	3/2.0	1,296 (-3%)	5mo	$27,000	$21	57
13903 Cloverlawn Ave	0.74mi	3/1.5	1,265 (-5%)	5mo	$140,000	$111	51
13176 Manor St	0.58mi	3/1.5	1,478 (+11%)	2mo	$60,500	$41	51
13955 Ohio St	0.73mi	3/1.0	1,448 (+9%)	5mo	$37,000	$26	47
13581 Cloverlawn St	0.66mi	4/2.0 (+1)	1,240 (-7%)	4mo	$143,000	$115	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 98.5%
• Equity multiple: 7.69×
• Total profit: $65,576
• Equity at exit: $31,531

10-year hold

• IRR: 93.8%
• Equity multiple: 16.97×
• Total profit: $156,546
• Equity at exit: $67,997

Cash invested: $9,800 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,204 high
• Mortgage (P&I): −$184
• Tax from tax record: −$23 /mo · $272/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $730

Break-even live

Break-even rent $279

Max offer price $35,000

Occupancy floor 34%

Sensitivity live

Price	-10% $750	-5% $740	+0% $730	+5% $720	+10% $710
Rent	-10% $635	-5% $683	+0% $730	+5% $778	+10% $825
Rate	-1.0pp $748	-0.5pp $739	base $730	+0.5pp $721	+1.0pp $712

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	0.11mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	0.26mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.31mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.31mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.31mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	0.34mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.61mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	44d	1	0.67mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	44d	1	0.70mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	0.74mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.74mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.77mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	0.79mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.79mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	44d	1	0.84mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	25d	1	0.84mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.86mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.86mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.87mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	0.88mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.89mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	22d	1	0.91mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	0.91mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.94mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	44d	1	0.97mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.13mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	1.18mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	1.19mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	1.20mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.21mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.24mi
9355 Ward St Detroit, MI	3.0	1.0	1200	$1,327	$1.11	44d	1	1.26mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	1.27mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	44d	1	1.31mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	1.32mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	44d	1	1.32mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.33mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	5d	1	1.35mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	44d	1	1.38mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	1.43mi

Listing history 10 events

1. 2026-06-18
   days on market $35,000 Active 13 DOM
2. 2026-06-17
   days on market $35,000 Active 12 DOM
3. 2026-06-16
   days on market $35,000 Active 11 DOM
4. 2026-06-15
   days on market $35,000 Active 10 DOM
5. 2026-06-13
   days on market $35,000 Active 8 DOM
6. 2026-06-13
   days on market $35,000 Active 7 DOM
7. 2026-06-09
   days on market $35,000 Active 4 DOM
8. 2026-06-08
   days on market $35,000 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $35,000 Active 2 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: $272 · $23/mo
• Projected year-2 tax: $405 · $34/mo
• Expected delta: +$134/yr (+$11/mo · 49.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 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: $14,445
• − Mortgage interest: −$1,961
• − Property taxes: −$272
• − Insurance: −$175
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$1,018
• Taxable income: $8,709
• Est. tax owed @ 24.0%: −$2,090
• After-tax cash flow: $6,673/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• Rent YoY: —
• 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

+16.7% since first listed

8 events — show timeline

• 2026-06-05 Listed $35,000 REALCOMP
• 2026-06-05 Listed $35,000 MiRealSource-MiMLS
• 2010-06-24 Listing Removed — REALCOMP
• 2010-03-24 Listed $19,900 REALCOMP
• 2010-03-14 Listing Removed — REALCOMP
• 2009-12-28 Listed $21,000 REALCOMP
• 2009-12-24 Listing Removed — REALCOMP
• 2009-12-16 Listed $30,000 REALCOMP

Property tax history

-8.0%/yr

Latest (2025): $272 · -83.7% YoY. Source: county tax records.