13113 Chestnut St · Southgate, MI 48195

$179,000

2 bd · 1.0 ba · 989 sqft · SingleFamily public records · 41 Days on market

Built 1939 4,792 sqft lot $181/sqft · at area comps Est $185k · 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 +13.0/30.0
• ARV discount +8.9/15.0
• Livability +4.2/5.0
• DSCR +3.9/10.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this charming ranch home on Chestnut Street, ideally located in a quiet neighborhood. This well-maintained 2 bedroom property features new windows (2022), a new roof (2020), and updates to the hot water tank (2020) and furnace (2019), ensuring peace of mind for years to come. The new driveway (2024) adds convenience and curb appeal. Step into the spacious all-season sunroom, perfect for enjoying views of the serene, tree-lined backyard, or relax in the cozy living room with a gas fireplace that extends to the dining area. This home is move-in ready and is just waiting for your personal touch. Enjoy a comfortable lifestyle with easy access to local amenities, parks, and more. This is an opportunity you won't want to miss.

Key facts

• Newer furnace
• Newer roof
• New driveway

Tags

• NEWER WINDOWS
• NEWER ROOF
• NEWER HOT WATER TANK
• NEWER FURNACE
• NEW DRIVEWAY
• ALL SEASON SUN ROOM

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Aluminum siding; Brick/mortar foundation; Built as residential single family
• Exterior features: Paved road access; Lot approximately 0.11 acres (40 x 116.02); Subdivision: OLD HOMESTEAD SUB

Interior

• Kitchen: Disposal
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Disposal; Gas fireplace in the living room; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-10 ($-125/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (18.2% below list).
• Recommended offer: $146k (18.2% below list) — sets the bar for 1% rule.

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: schools D, 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.
• Market conditions: Rents rising fast (+4.0%/yr); 117 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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

• It's been on market 41 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $31k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; list at $179k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,365 (18.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• GRM: 10.2

CMA / ARV

• ARV (median comp): $184,650
• List price: $179,000
• Delta: -3.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13109 Balsam St	0.45mi	3/1.0 (+1)	999 (+1%)	5mo	$185,000	$185	68
1518 Chestnut St	0.62mi	2/1.0	1,008 (+2%)	1mo	$169,000	$168	67
3327 20th St	0.52mi	3/1.0 (+1)	996 (+1%)	3mo	$165,000	$166	67
3440 20th St	0.59mi	2/1.0	945 (-4%)	0mo	$190,000	$201	65
13360 Jobin St	0.37mi	3/1.0 (+1)	1,090 (+10%)	1mo	$170,500	$156	60
14420 Trenton Rd	0.54mi	2/1.0	910 (-8%)	3mo	$165,000	$181	59
13226 Castle St	0.44mi	2/1.0	1,100 (+11%)	4mo	$142,500	$130	58
13348 Walnut St	0.41mi	3/1.0 (+1)	1,090 (+10%)	4mo	$185,000	$170	55
3577 22nd St	0.62mi	3/1.0 (+1)	900 (-9%)	3mo	$110,000	$122	49
12925 Pullman St	0.55mi	3/1.0 (+1)	1,102 (+11%)	6mo	$213,000	$193	46
12984 Callender St	0.74mi	3/1.0 (+1)	1,108 (+12%)	1mo	$203,500	$184	39
1891 23rd St	0.74mi	3/1.0 (+1)	1,127 (+14%)	5mo	$180,000	$160	33

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-28,143
• Equity at exit: $26,689

10-year hold

• IRR: -5.6%
• Equity multiple: 0.62×
• Total profit: $-18,960
• Equity at exit: $15,477

Cash invested: $50,120 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$939
• Tax from tax record: −$153 /mo · $1,841/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-10

Break-even live

Break-even rent $1,477

Max offer price $177,161

Occupancy floor 96%

Sensitivity live

Price	-10% $91	-5% $40	+0% $-10	+5% $-61	+10% $-112
Rent	-10% $-126	-5% $-68	+0% $-10	+5% $47	+10% $105
Rate	-1.0pp $80	-0.5pp $35	base $-10	+0.5pp $-57	+1.0pp $-104

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13185 Sycamore St Southgate, MI	3.0	1.0	1080	$1,700	$1.57	25d	1	0.29mi
13128 Balsam St Unit 2 Southgate, MI	1.0	1.0	800	$995	$1.24	44d	1	0.43mi
1569 Sycamore St Wyandotte, MI	3.0	1.0	944	$1,695	$1.80	44d	1	0.61mi
1213 Sycamore St Unit 106 Wyandotte, MI	1.0	1.0	650	$899	$1.38	25d	1	0.82mi
3414 13th St Unit 3406 Wyandotte, MI	1.0	1.0	750	$925	$1.23	0d	1	0.84mi
3851 17th St Wyandotte, MI	2.0	1.0	764	$1,200	$1.57	3d	1	0.91mi
1650 19th St Wyandotte, MI	3.0	2.0	1100	$1,899	$1.73	19d	1	0.95mi
13861 Strathcona St Southgate, MI	1.0–2.0	1.0–1.5	797	$1,140	$1.43	0d	5	1.01mi
1024 Adelaide St Wyandotte, MI	2.0	1.0	800	$3,100	$3.88	0d	1	1.02mi
1130 21st St Wyandotte, MI	3.0	1.0	864	$1,420	$1.64	0d	1	1.14mi
1163 17th St Wyandotte, MI	3.0	1.0	1010	$1,695	$1.68	44d	1	1.19mi
2700 6th St Wyandotte, MI	1.0–2.0	1.0	900	$1,095	$1.22	44d	2	1.24mi
667 Pine St Unit 2 Wyandotte, MI	2.0	1.0	800	$1,400	$1.75	2d	1	1.30mi
667 Pine St Unit 1 Wyandotte, MI	3.0	1.0	1000	$1,500	$1.50	0d	1	1.30mi
4163 Burns Ave Lincoln Park, MI	3.0	1.0	900	$1,500	$1.67	2d	1	1.35mi
1454 Goddard Rd Lincoln Park, MI	1.0	1.0	750	$950	$1.27	5d	1	1.39mi
13750 Village Green Blvd Southgate, MI	1.0–2.0	1.0	862	$1,620	$1.88	0d	10	1.39mi

Listing history 21 events

1. 2026-06-21
   days on market $179,000 Active 41 DOM
2. 2026-06-18
   price $179,000 Active 38 DOM
3. 2026-06-18
   days on market $194,000 Active 38 DOM
4. 2026-06-17
   days on market $194,000 Active 37 DOM
5. 2026-06-16
   days on market $194,000 Active 36 DOM
6. 2026-06-15
   days on market $194,000 Active 35 DOM
7. 2026-06-13
   days on market $194,000 Active 33 DOM
8. 2026-06-09
   days on market $194,000 Active 29 DOM
9. 2026-06-08
   days on market $194,000 Active 28 DOM
10. 2026-06-07
    days on market $194,000 Active 27 DOM
11. 2026-06-04
    days on market $194,000 Active 24 DOM
12. 2026-06-03
    days on market $194,000 Active 23 DOM
13. 2026-06-02
    days on market $194,000 Active 22 DOM
14. 2026-06-01
    days on market $194,000 Active 21 DOM
15. 2026-05-31
    days on market $194,000 Active 20 DOM
16. 2026-05-11
    listed $209,900 Active 739-char remark

    Show marketing remark (739 chars)

    Discover this charming ranch home on Chestnut Street, ideally located in a quiet neighborhood. This well-maintained 2 bedroom property features new windows (2022), a new roof (2020), and updates to the hot water tank (2020) and furnace (2019), ensuring peace of mind for years to come. The new driveway (2024) adds convenience and curb appeal. Step into the spacious all-season sunroom, perfect for enjoying views of the serene, tree-lined backyard, or relax in the cozy living room with a gas fireplace that extends to the dining area. This home is move-in ready and is just waiting for your personal touch. Enjoy a comfortable lifestyle with easy access to local amenities, parks, and more. This is an opportunity you won't want to miss.

17. 2026-05-11
    listed $209,900 Active 739-char remark

    Show marketing remark (739 chars)

    Discover this charming ranch home on Chestnut Street, ideally located in a quiet neighborhood. This well-maintained 2 bedroom property features new windows (2022), a new roof (2020), and updates to the hot water tank (2020) and furnace (2019), ensuring peace of mind for years to come. The new driveway (2024) adds convenience and curb appeal. Step into the spacious all-season sunroom, perfect for enjoying views of the serene, tree-lined backyard, or relax in the cozy living room with a gas fireplace that extends to the dining area. This home is move-in ready and is just waiting for your personal touch. Enjoy a comfortable lifestyle with easy access to local amenities, parks, and more. This is an opportunity you won't want to miss.

18. 2004-09-01
    historical
19. 2004-06-01
    listed $149,900
20. 2004-06-01
    listed $149,900
21. 1991-06-20
    soldstatus $68,600

ⓘ 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: $1,841 · $153/mo
• Projected year-2 tax: $2,299 · $192/mo
• Expected delta: +$458/yr (+$38/mo · 24.9%)

ⓘ 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: $17,564
• − Mortgage interest: −$10,027
• − Property taxes: −$1,841
• − Insurance: −$895
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$5,207
• Taxable loss: −$3,216
• Est. tax savings @ 24.0%: +$772
• After-tax cash flow: $647/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

+182.8% since first listed

10 events — show timeline

• 2026-05-29 Price Changed $194,000 MiRealSource-MiMLS
• 2026-05-28 Price Changed $194,000 REALCOMP
• 2026-05-20 Price Changed $199,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $199,000 REALCOMP
• 2026-05-11 Listed $209,900 REALCOMP
• 2026-05-11 Listed $209,900 MiRealSource-MiMLS
• 2004-09-01 Listing Removed — MiRealSource-MiMLS
• 2004-06-01 Listed $149,900 REALCOMP
• 2004-06-01 Listed $149,900 MiRealSource-MiMLS
• 1991-06-20 Sold (Public Records) $68,600 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,841 · +3.9% YoY. Source: county tax records.