12261 Lansdowne St E · Detroit, MI 48224

$115,000

4 bd · 1.0 ba · 1,122 sqft · SingleFamily public records · 108 Days on market

Built 1941 5,227 sqft lot $102/sqft · 50% above area

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid all-brick 4-bedroom home in Detroit's desirable 48224 area offering strong investment potential! This spacious property features hardwood floors throughout, two bedrooms upstairs, and a main-floor bedroom with direct access to the backyard porch/patio--ideal for added privacy or flexible living. Fireplace is intact (currently inoperable). Major updates include roof (2019) and newer furnace and water heater (2023), providing added confidence in key mechanical systems. Full basement offers additional storage or future finishing potential. All appliances stay, including refrigerator, stove, washer, and dryer. Generous layout allows room to modernize and increase equity with cosmetic improvements. Strong rental footprint in an established neighborhood. Excellent opportunity for buy-and-hold investors seeking long-term rental income or a value-add flip. Tenant occupied. Sold as-is. Cash or conventional financing only.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1941

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.

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 flat; 484 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 38% 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 $795 of loan paydown is wiped out by about $3k 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 108 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $6k; list at $115k implies a 1991% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 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 1941 — 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: 1.25% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.16%
• DSCR: 1.63
• GRM: 6.7

CMA / ARV

• ARV (median comp): $76,440
• List price: $115,000
• Delta: 50.44%
• 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
12519 Riad St	0.26mi	3/1.0 (-1)	1,135 (+1%)	0mo	$100,000	$88	81
11545 Roxbury St	0.28mi	3/1.0 (-1)	1,003 (-11%)	1mo	$65,000	$65	64
12893 Payton St	0.33mi	3/1.0 (-1)	1,020 (-9%)	1mo	$75,000	$74	63
10830 Mckinney St	0.65mi	3/1.0 (-1)	1,066 (-5%)	1mo	$40,199	$38	55
19100 Kingsville St	0.34mi	3/1.0 (-1)	972 (-13%)	2mo	$110,000	$113	55
11640 Somerset Ave	0.49mi	3/2.0 (-1)	1,028 (-8%)	0mo	$70,000	$68	54
11742 Whitehill St	0.50mi	3/1.5 (-1)	1,228 (+9%)	1mo	$61,000	$50	53
18981 Kenosha St	0.47mi	3/1.5 (-1)	1,290 (+15%)	2mo	$77,500	$60	44
11160 Worden St	0.66mi	3/2.0 (-1)	1,234 (+10%)	1mo	$156,000	$126	43
11017 Worden St	0.61mi	3/1.0 (-1)	961 (-14%)	0mo	$47,500	$49	42
10901 Worden St	0.61mi	3/1.5 (-1)	1,271 (+13%)	1mo	$43,000	$34	42
10945 Peerless St	0.67mi	3/1.0 (-1)	964 (-14%)	2mo	$54,000	$56	39

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: 2.0%
• Equity multiple: 1.07×
• Total profit: $2,365
• Equity at exit: $17,147

10-year hold

• IRR: 9.3%
• Equity multiple: 1.64×
• Total profit: $20,661
• Equity at exit: $9,943

Cash invested: $32,200 (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: 484
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,433 high
• Mortgage (P&I): −$603
• Tax from tax record: −$101 /mo · $1,211/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $380

Break-even live

Break-even rent $952

Max offer price $115,000

Occupancy floor 68%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.15mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.15mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.17mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.24mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	0.26mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.28mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	0.28mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	0.40mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	0.41mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	0.43mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	0.46mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.47mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.60mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.61mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.62mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	0.64mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.64mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	0.65mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.66mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.69mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	0.70mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.72mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	0.74mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.75mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	0.79mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	0.83mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.84mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	0.85mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.86mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.87mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	0.87mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	0.90mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	14d	1	0.93mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.93mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.97mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	1.02mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	1d	1	1.02mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	1.05mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.05mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.10mi

Listing history 28 events

1. 2026-06-18
   days on market $115,000 Active 108 DOM
2. 2026-06-17
   days on market $115,000 Active 107 DOM
3. 2026-06-15
   days on market $115,000 Active 105 DOM
4. 2026-06-13
   days on market $115,000 Active 103 DOM
5. 2026-06-13
   days on market $115,000 Active 102 DOM
6. 2026-06-09
   days on market $115,000 Active 99 DOM
7. 2026-06-08
   days on market $115,000 Active 98 DOM
8. 2026-06-07
   days on market $115,000 Active 97 DOM
9. 2026-06-04
   days on market $115,000 Active 94 DOM
10. 2026-06-03
    days on market $115,000 Active 93 DOM
11. 2026-06-01
    days on market $115,000 Active 91 DOM
12. 2026-05-31
    days on market $115,000 Active 90 DOM
13. 2026-03-02
    listed $115,000 Active 932-char remark

    Show marketing remark (932 chars)

    Solid all-brick 4-bedroom home in Detroit's desirable 48224 area offering strong investment potential! This spacious property features hardwood floors throughout, two bedrooms upstairs, and a main-floor bedroom with direct access to the backyard porch/patio--ideal for added privacy or flexible living. Fireplace is intact (currently inoperable). Major updates include roof (2019) and newer furnace and water heater (2023), providing added confidence in key mechanical systems. Full basement offers additional storage or future finishing potential. All appliances stay, including refrigerator, stove, washer, and dryer. Generous layout allows room to modernize and increase equity with cosmetic improvements. Strong rental footprint in an established neighborhood. Excellent opportunity for buy-and-hold investors seeking long-term rental income or a value-add flip. Tenant occupied. Sold as-is. Cash or conventional financing only.

14. 2026-03-02
    listed $115,000 Active 932-char remark

    Show marketing remark (932 chars)

    Solid all-brick 4-bedroom home in Detroit's desirable 48224 area offering strong investment potential! This spacious property features hardwood floors throughout, two bedrooms upstairs, and a main-floor bedroom with direct access to the backyard porch/patio--ideal for added privacy or flexible living. Fireplace is intact (currently inoperable). Major updates include roof (2019) and newer furnace and water heater (2023), providing added confidence in key mechanical systems. Full basement offers additional storage or future finishing potential. All appliances stay, including refrigerator, stove, washer, and dryer. Generous layout allows room to modernize and increase equity with cosmetic improvements. Strong rental footprint in an established neighborhood. Excellent opportunity for buy-and-hold investors seeking long-term rental income or a value-add flip. Tenant occupied. Sold as-is. Cash or conventional financing only.

15. 2026-03-02
    listed $115,000 Active

    Show marketing remark (932 chars)

    Solid all-brick 4-bedroom home in Detroit's desirable 48224 area offering strong investment potential! This spacious property features hardwood floors throughout, two bedrooms upstairs, and a main-floor bedroom with direct access to the backyard porch/patio--ideal for added privacy or flexible living. Fireplace is intact (currently inoperable). Major updates include roof (2019) and newer furnace and water heater (2023), providing added confidence in key mechanical systems. Full basement offers additional storage or future finishing potential. All appliances stay, including refrigerator, stove, washer, and dryer. Generous layout allows room to modernize and increase equity with cosmetic improvements. Strong rental footprint in an established neighborhood. Excellent opportunity for buy-and-hold investors seeking long-term rental income or a value-add flip. Tenant occupied. Sold as-is. Cash or conventional financing only.

16. 2026-03-01
    historical $115,000

    Show marketing remark (932 chars)

    Solid all-brick 4-bedroom home in Detroit's desirable 48224 area offering strong investment potential! This spacious property features hardwood floors throughout, two bedrooms upstairs, and a main-floor bedroom with direct access to the backyard porch/patio--ideal for added privacy or flexible living. Fireplace is intact (currently inoperable). Major updates include roof (2019) and newer furnace and water heater (2023), providing added confidence in key mechanical systems. Full basement offers additional storage or future finishing potential. All appliances stay, including refrigerator, stove, washer, and dryer. Generous layout allows room to modernize and increase equity with cosmetic improvements. Strong rental footprint in an established neighborhood. Excellent opportunity for buy-and-hold investors seeking long-term rental income or a value-add flip. Tenant occupied. Sold as-is. Cash or conventional financing only.

17. 2026-03-01
    historical $115,000 932-char remark

    Show marketing remark (932 chars)

    Solid all-brick 4-bedroom home in Detroit's desirable 48224 area offering strong investment potential! This spacious property features hardwood floors throughout, two bedrooms upstairs, and a main-floor bedroom with direct access to the backyard porch/patio--ideal for added privacy or flexible living. Fireplace is intact (currently inoperable). Major updates include roof (2019) and newer furnace and water heater (2023), providing added confidence in key mechanical systems. Full basement offers additional storage or future finishing potential. All appliances stay, including refrigerator, stove, washer, and dryer. Generous layout allows room to modernize and increase equity with cosmetic improvements. Strong rental footprint in an established neighborhood. Excellent opportunity for buy-and-hold investors seeking long-term rental income or a value-add flip. Tenant occupied. Sold as-is. Cash or conventional financing only.

18. 2010-10-15
    soldstatus $5,500
19. 2010-10-15
    soldstatus $5,500
20. 2010-10-04
    historical
21. 2010-09-21
    listed $3,300
22. 2010-09-21
    listed $3,300
23. 2005-08-12
    soldstatus $72,177
24. 2004-12-03
    listed $76,000
25. 2002-07-15
    soldstatus $103,000
26. 2002-06-03
    historical
27. 2002-05-09
    listed $99,900
28. 1993-11-09
    soldstatus $39,900

ⓘ 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: $1,211 · $101/mo
• Projected year-2 tax: $1,491 · $124/mo
• Expected delta: +$280/yr (+$23/mo · 23.1%)

ⓘ 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: $17,194
• − Mortgage interest: −$6,442
• − Property taxes: −$1,211
• − Insurance: −$575
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$3,345
• Taxable income: $2,870
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $3,872/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

+188.2% since first listed

16 events — show timeline

• 2026-03-02 Listed $115,000 REALCOMP
• 2026-03-02 Listed $115,000 SW Michigan MLS
• 2026-03-02 Listed $115,000 MiRealSource-MiMLS
• 2026-03-01 Coming Soon $115,000 MiRealSource-MiMLS
• 2026-03-01 Coming Soon $115,000 SW Michigan MLS
• 2010-10-15 Sold (MLS) $5,500 REALCOMP
• 2010-10-15 Sold (MLS) $5,500 MiRealSource-MiMLS
• 2010-10-04 Listing Removed — MiRealSource-MiMLS
• 2010-09-21 Listed $3,300 REALCOMP
• 2010-09-21 Listed $3,300 MiRealSource-MiMLS
• 2005-08-12 Sold (MLS) $72,177 REALCOMP
• 2004-12-03 Listed $76,000 REALCOMP
• 2002-07-15 Sold (MLS) $103,000 MiRealSource-MiMLS
• 2002-06-03 Listing Removed — MiRealSource-MiMLS
• 2002-05-09 Listed $99,900 MiRealSource-MiMLS
• 1993-11-09 Sold (Public Records) $39,900 Public Records

Property tax history

-4.0%/yr

Latest (2025): $1,211 · -55.3% YoY. Source: county tax records.