13135 Griggs St · Detroit, MI 48238

$65,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 212 Days on market

Built 1924 6,098 sqft lot $46/sqft · at area comps Est $65k · at est.

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Why this score? — see what drove the B- 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
• ARV discount +7.7/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

Key facts

• 6,098 sq ft lot
• Built 1924
• Listed 211 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 10.1% 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: Rents rising fast (+6.1%/yr); 348 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 45% of the median local income ($33k/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 $449 of loan paydown is wiped out by about $2k 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 + 6.1% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $65k implies a 1150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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: 1.90% ✓
• Cap rate: 16.23%
• Cash-on-cash: 35.48%
• DSCR: 2.58
• GRM: 4.4

CMA / ARV

• ARV (median comp): $65,359
• List price: $65,000
• Delta: -0.55%
• 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
13176 Manor St	0.25mi	3/1.5	1,478 (+6%)	2mo	$60,500	$41	76
12162 Kentucky St	0.46mi	3/1.0	1,415 (+1%)	4mo	$42,000	$30	73
13586 Indiana St	0.37mi	3/1.0	1,298 (-7%)	2mo	$30,000	$23	70
13955 Ohio St	0.51mi	3/1.0	1,448 (+3%)	5mo	$37,000	$26	66
12667 Sorrento St	0.55mi	3/1.0	1,309 (-6%)	0mo	$65,000	$50	63
12027 Manor St	0.61mi	3/1.0	1,340 (-4%)	3mo	$86,750	$65	62
14265 Appoline St	0.70mi	3/2.0	1,384 (-1%)	0mo	$76,000	$55	61
12303 Cloverlawn St	0.63mi	3/1.5	1,454 (+4%)	4mo	$58,500	$40	59
12096 Meyers Rd	0.56mi	3/1.0	1,248 (-11%)	0mo	$30,000	$24	56
13903 Cloverlawn Ave	0.62mi	3/1.5	1,265 (-10%)	5mo	$140,000	$111	49
13581 Cloverlawn St	0.57mi	4/2.0 (+1)	1,240 (-11%)	4mo	$143,000	$115	42
13192 Schoolcraft	0.70mi	4/1.0 (+1)	1,219 (-13%)	1mo	$32,000	$26	40

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.53×
• Total profit: $27,775
• Equity at exit: $9,692

10-year hold

• IRR: 43.0%
• Equity multiple: 5.72×
• Total profit: $85,985
• Equity at exit: $5,620

Cash invested: $18,200 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 348
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,236 high
• Mortgage (P&I): −$341
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $538

Break-even live

Break-even rent $554

Max offer price $65,000

Occupancy floor 51%

Sensitivity live

Price	-10% $575	-5% $556	+0% $538	+5% $520	+10% $501
Rent	-10% $440	-5% $489	+0% $538	+5% $587	+10% $636
Rate	-1.0pp $571	-0.5pp $555	base $538	+0.5pp $521	+1.0pp $504

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	0.17mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	45d	1	0.29mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.29mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	6d	1	0.34mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	0.39mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	45d	1	0.39mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.44mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	0.47mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.56mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	45d	1	0.61mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	0.69mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.71mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	3d	1	0.71mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	45d	1	0.84mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	0.85mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.85mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	18d	1	0.95mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	0.97mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	45d	1	0.97mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	45d	1	1.01mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	1.05mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.09mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	23d	1	1.10mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	25d	1	1.13mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	45d	1	1.15mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	6d	1	1.19mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	45d	1	1.20mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	18d	1	1.21mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	45d	1	1.21mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	6d	1	1.22mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	6d	1	1.28mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	45d	1	1.28mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	45d	1	1.30mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	45d	1	1.31mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.32mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	6d	1	1.34mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	23d	1	1.38mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	18d	1	1.38mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	1.39mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	1.40mi

Listing history 26 events

1. 2026-06-21
   days on market $65,000 Active 212 DOM
2. 2026-06-18
   days on market $65,000 Active 209 DOM
3. 2026-06-17
   days on market $65,000 Active 208 DOM
4. 2026-06-15
   statusdays on market $65,000 Active 206 DOM
5. 2026-06-13
   days on market $65,000 Active Under Contract 204 DOM
6. 2026-06-13
   days on market $65,000 Active Under Contract 203 DOM
7. 2026-06-09
   days on market $65,000 Active Under Contract 200 DOM
8. 2026-06-08
   days on market $65,000 Active Under Contract 199 DOM
9. 2026-06-07
   days on market $65,000 Active Under Contract 198 DOM
10. 2026-06-04
    statusdays on market $65,000 Active Under Contract 195 DOM
11. 2026-06-03
    days on market $65,000 Active 194 DOM
12. 2026-06-01
    days on market $65,000 Active 192 DOM
13. 2026-05-31
    days on market $65,000 Active 191 DOM
14. 2026-05-05
    price $65,000 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

15. 2026-05-04
    price $65,000 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

16. 2026-01-27
    price $70,000 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

17. 2026-01-26
    price $70,000 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

18. 2025-11-21
    listed $80,000 Active 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

19. 2025-11-21
    listed $80,000 Active 323-char remark

    Show marketing remark (323 chars)

    Calling all investors and flippers. This home is part of 4 homes being listed by same owner and they are all in close proximity to each other in a great Detroit neighborhood full of charming well kept homes close to freeways, schools, churches and parks. The interiors need some TLC and updates but the bones are fantastic!

20. 2025-11-20
    historical
21. 2025-11-20
    historical
22. 2025-05-26
    listed $80,000 Active
23. 2025-05-26
    listed $80,000 Active
24. 2025-05-21
    historical
25. 2009-08-07
    soldstatus $5,200
26. 2009-07-02
    listed $5,400

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $921 · $77/mo
• Expected delta: +$80/yr (+$7/mo · 9.5%)

ⓘ 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 ≥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: $14,826
• − Mortgage interest: −$3,641
• − Property taxes: −$841
• − Insurance: −$325
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$1,891
• Taxable income: $5,757
• Est. tax owed @ 24.0%: −$1,382
• After-tax cash flow: $5,075/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+1103.7% since first listed

13 events — show timeline

• 2026-05-05 Price Changed $65,000 MiRealSource-MiMLS
• 2026-05-04 Price Changed $65,000 REALCOMP
• 2026-01-27 Price Changed $70,000 MiRealSource-MiMLS
• 2026-01-26 Price Changed $70,000 REALCOMP
• 2025-11-21 Listed $80,000 REALCOMP
• 2025-11-21 Listed $80,000 MiRealSource-MiMLS
• 2025-11-20 Listing Removed — REALCOMP
• 2025-11-20 Listing Removed — MiRealSource-MiMLS
• 2025-05-26 Listed $80,000 MiRealSource-MiMLS
• 2025-05-26 Listed $80,000 REALCOMP
• 2025-05-21 Coming Soon — MiRealSource-MiMLS
• 2009-08-07 Sold (MLS) $5,200 REALCOMP
• 2009-07-02 Listed $5,400 REALCOMP

Property tax history

-3.1%/yr

Latest (2025): $841 · -53.5% YoY. Source: county tax records.