12864 Burt Rd · Detroit, MI 48223

$32,000

3 bd · 1.0 ba · 689 sqft · SingleFamily public records · 46 Days on market

Built 1947 3,920 sqft lot $46/sqft · 44% above area Est $28k · 15% over ↓ 60% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +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
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

Key facts

• 3,920 sq ft lot
• Built 1947
• Listed 46 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.7% 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: 158 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% 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 31% 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 $221 of loan paydown is wiped out by about $960 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 + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $8k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 3.54% ✓
• Cap rate: 30.66%
• Cash-on-cash: 87.02%
• DSCR: 4.87
• GRM: 2.4

CMA / ARV

• ARV (median comp): $27,707
• List price: $32,000
• Delta: 15.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12937 Trinity St	0.11mi	2/1.0 (-1)	729 (+6%)	14mo	$15,500	$21	69
12642 Kentfield St	0.38mi	2/1.0 (-1)	742 (+8%)	10mo	$40,000	$54	56
14128 Patton St	0.48mi	2/1.0 (-1)	696 (+1%)	18mo	$11,500	$17	56
13540 Minock St	0.70mi	2/1.0 (-1)	709 (+3%)	10mo	$24,000	$34	50
13535 Evergreen Rd	0.49mi	2/1.0 (-1)	754 (+9%)	13mo	$45,700	$61	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 87.6%
• Equity multiple: 5.04×
• Total profit: $36,231
• Equity at exit: $4,771

10-year hold

• IRR: 90.6%
• Equity multiple: 10.48×
• Total profit: $84,967
• Equity at exit: $2,767

Cash invested: $8,960 (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 48223

• Active inventory: 158
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,132 high
• Mortgage (P&I): −$168
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $650

Break-even live

Break-even rent $310

Max offer price $32,000

Occupancy floor 38%

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	43d	1	0.22mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	43d	6	0.48mi
12850 Dolphin St Detroit, MI	1.0–2.0	1.0	746	$999	$1.34	5d	4	0.62mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	0.97mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.21mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	24d	1	1.32mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	22d	1	1.32mi
14088 Riverview St Unit 208 Detroit, MI	2.0	1.0	750	$985	$1.31	43d	1	1.36mi
14088 Riverview St Unit 207 Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	1.36mi
14088 Riverview St Unit 108 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	1.36mi
23636 Schoolcraft Rd Apt 212 Detroit, MI	2.0	1.0	750	$985	$1.31	43d	1	1.37mi
23636 Schoolcraft Rd Unit 109 Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	1.37mi
23648 Schoolcraft Rd Detroit, MI	2.0	1.0	750	$1,050	$1.40	43d	1	1.40mi
14176 Riverview St Unit 120 Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	1.43mi
14180 Riverview St Unit 101 Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	1.44mi
23838 Schoolcraft Rd Unit 209 Detroit, MI	2.0	1.0	750	$985	$1.31	43d	1	1.47mi
23838 Schoolcraft Rd Unit 109 Detroit, MI	2.0	1.0	750	$845	$1.13	43d	1	1.47mi
23838 Schoolcraft Rd Unit 212 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	1.47mi
23842 Schoolcraft Rd Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	1.47mi
23850 Schoolcraft Rd Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	1.47mi
23851 Fullerton Ave Detroit, MI	1.0–2.0	1.0	700	$999	$1.43	43d	1	1.48mi
14075 Riverview St Detroit, MI	1.0–2.0	1.0	925	$1,250	$1.35	43d	1	1.49mi

Listing history 26 events

1. 2026-05-31
   days on market $32,000 Active 46 DOM
2. 2026-05-04
   price $32,000 362-char remark

   Show marketing remark (362 chars)

   Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

3. 2026-05-04
   price $32,000 362-char remark

   Show marketing remark (362 chars)

   Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

4. 2026-04-21
   price $35,000 362-char remark

   Show marketing remark (362 chars)

   Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

5. 2026-04-20
   price $35,000 362-char remark

   Show marketing remark (362 chars)

   Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

6. 2026-04-15
   listed $39,900 Active 362-char remark

   Show marketing remark (362 chars)

   Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

7. 2026-04-15
   listed $39,900 Active 362-char remark

   Show marketing remark (362 chars)

   Cheap rental opportunity. Newer windows, half the roof is newer, nice hardwood floors throughout living room and bedrooms. Kitchen needs counters, bathroom needs vanity. Full, dry basement. You will need a furnace and hot water heater. The floors and paint are in good shape. 3 beds, 1 bath, ~900 sqft built in 1947. Just need an investor to come take advantage.

8. 2024-05-01
   historical
9. 2024-04-30
   historical
10. 2024-01-31
    listed $60,000 Active
11. 2024-01-31
    listed $60,000
12. 2021-09-23
    soldstatus $22,000 Sold
13. 2021-09-23
    soldstatus $22,000 Closed
14. 2021-09-09
    status Pending
15. 2021-09-09
    status Pending
16. 2021-08-29
    historical Accepting Backup Offers
17. 2021-08-29
    historical Accepting Backup Offers
18. 2021-06-01
    listed $29,900 Active
19. 2021-06-01
    listed $29,900 Active
20. 2007-05-30
    soldstatus $6,000
21. 2007-03-16
    listed $9,900
22. 2006-09-17
    historical
23. 2006-09-17
    historical
24. 2006-06-16
    listed $75,000
25. 2006-05-17
    listed $75,000
26. 2005-01-11
    soldstatus $80,000

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $763 · $64/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 2/10 Low 7 d/yr ≥99°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: $13,587
• − Mortgage interest: −$1,792
• − Property taxes: −$763
• − Insurance: −$160
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − Depreciation: −$931
• Taxable income: $7,767
• Est. tax owed @ 24.0%: −$1,864
• After-tax cash flow: $5,933/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• 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: ▼ -303.41%
• Current HPI: 138.2779
• 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

-60.0% since first listed

25 events — show timeline

• 2026-05-04 Price Changed $32,000 MiRealSource-MiMLS
• 2026-05-04 Price Changed $32,000 REALCOMP
• 2026-04-21 Price Changed $35,000 MiRealSource-MiMLS
• 2026-04-20 Price Changed $35,000 REALCOMP
• 2026-04-15 Listed $39,900 REALCOMP
• 2026-04-15 Listed $39,900 MiRealSource-MiMLS
• 2024-05-01 Listing Removed — MiRealSource-MiMLS
• 2024-04-30 Listing Removed — REALCOMP
• 2024-01-31 Listed $60,000 MiRealSource-MiMLS
• 2024-01-31 Listed $60,000 REALCOMP
• 2021-09-23 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2021-09-23 Sold (MLS) $22,000 REALCOMP
• 2021-09-09 Pending — MiRealSource-MiMLS
• 2021-09-09 Pending — REALCOMP
• 2021-08-29 Contingent — MiRealSource-MiMLS
• 2021-08-29 Contingent — REALCOMP
• 2021-06-01 Listed $29,900 MiRealSource-MiMLS
• 2021-06-01 Listed $29,900 REALCOMP
• 2007-05-30 Sold (MLS) $6,000 REALCOMP
• 2007-03-16 Listed $9,900 REALCOMP
• 2006-09-17 Listing Removed — REALCOMP
• 2006-09-17 Listing Removed — MiRealSource-MiMLS
• 2006-06-16 Listed $75,000 REALCOMP
• 2006-05-17 Listed $75,000 MiRealSource-MiMLS
• 2005-01-11 Sold (Public Records) $80,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $763 · +0.0% YoY. Source: county tax records.