13940 Mayfield St · Detroit, MI 48205

$35,900

2 bd · 1.5 ba · 1,680 sqft · SingleFamily public records · 61 Days on market

Built 1927 3,920 sqft lot $21/sqft · 44% below area ↓ 5% since listing

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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 +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with significant renovation opportunity in Detroit. This property offers a spacious layout with 2 bedrooms, 2.5 bathrooms, and an upper-level loft with a second kitchen, along with a finished basement and fenced yard. Please note: the home requires substantial repairs. The front door is missing, kitchen cabinets and bathroom fixtures have been removed, plumbing has been cut in the basement, and there is a broken window. Property is being sold strictly as-is. Ideal for experienced investors or buyers seeking a full rehab project. Cash only. Buyer to verify all information and condition.

Key facts

• Fenced yard
• Finished basement
• Upper-level loft

Tags

• UPPER-LEVEL LOFT
• FINISHED BASEMENT
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $34k (6.0% below list) — sets the bar for market timing.
• Cap rate 30.6% 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: Rents rising (+1.3%/yr); 373 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 39% of the median local income ($39k/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 $248 of loan paydown is wiped out by about $1k 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 + 1.3% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,746 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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: 3.52% ✓
• Cap rate: 30.64%
• Cash-on-cash: 86.96%
• DSCR: 4.87
• GRM: 2.4

CMA / ARV

• ARV (median comp): $99,945
• List price: $35,900
• Delta: -64.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12816 Rosemary St	0.65mi	3/2.0 (+1)	1,659 (-1%)	4mo	$131,000	$79	57
13106 Kilbourne St	0.55mi	3/1.0 (+1)	1,666 (-1%)	11mo	$125,000	$75	57
12854 Hickory St	0.31mi	3/1.0 (+1)	1,512 (-10%)	8mo	$75,000	$50	55
12590 Rosemary St	0.73mi	3/1.5 (+1)	1,632 (-3%)	12mo	$41,501	$25	46
14711 Rosemary St	0.74mi	3/1.0 (+1)	1,716 (+2%)	14mo	$58,000	$34	44
13423 Kilbourne St	0.52mi	3/1.5 (+1)	1,450 (-14%)	8mo	$113,000	$78	42
14276 Rosemary St	0.64mi	3/1.0 (+1)	1,625 (-3%)	20mo	$35,000	$22	41
9303 E Outer Dr	0.65mi	3/1.0 (+1)	1,813 (+8%)	13mo	$55,000	$30	39
14219 Kilbourne St	0.53mi	3/1.0 (+1)	1,480 (-12%)	12mo	$66,000	$45	38
9527 E Outer Dr	0.74mi	3/1.5 (+1)	1,534 (-9%)	9mo	$167,000	$109	38
13313 Rosemary St	0.58mi	3/1.5 (+1)	1,463 (-13%)	22mo	$70,000	$48	28
18541 Schoenherr St	0.66mi	3/2.0 (+1)	1,477 (-12%)	22mo	$105,000	$71	23

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 85.6%
• Equity multiple: 4.83×
• Total profit: $38,518
• Equity at exit: $5,353

10-year hold

• IRR: 88.3%
• Equity multiple: 9.47×
• Total profit: $85,121
• Equity at exit: $3,104

Cash invested: $10,052 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,264 high
• Mortgage (P&I): −$188
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $728

Break-even live

Break-even rent $342

Max offer price $35,900

Occupancy floor 37%

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: $8,975
• Closing costs: $1,077
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	17d	1	0.54mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	17d	1	0.58mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.70mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.94mi
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	10d	1	1.00mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	1.00mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	10d	1	1.00mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.00mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	1.02mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.05mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	1.07mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	1.10mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	1.14mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	1.16mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.16mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	1.17mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	1.18mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	10d	1	1.21mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	43d	1	1.26mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	1.27mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.30mi
18457 Hoover St Unit 57 Detroit, MI	2.0	1.0	1950	$850	$0.44	14d	1	1.33mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	17d	1	1.37mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.40mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	1.43mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.47mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	1.48mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	4d	1	1.49mi

Listing history 14 events

1. 2026-05-04
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Investor special with significant renovation opportunity in Detroit. This property offers a spacious layout with 2 bedrooms, 2.5 bathrooms, and an upper-level loft with a second kitchen, along with a finished basement and fenced yard. Please note: the home requires substantial repairs. The front door is missing, kitchen cabinets and bathroom fixtures have been removed, plumbing has been cut in the basement, and there is a broken window. Property is being sold strictly as-is. Ideal for experienced investors or buyers seeking a full rehab project. Cash only. Buyer to verify all information and condition.

2. 2026-05-04
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Investor special with significant renovation opportunity in Detroit. This property offers a spacious layout with 2 bedrooms, 2.5 bathrooms, and an upper-level loft with a second kitchen, along with a finished basement and fenced yard. Please note: the home requires substantial repairs. The front door is missing, kitchen cabinets and bathroom fixtures have been removed, plumbing has been cut in the basement, and there is a broken window. Property is being sold strictly as-is. Ideal for experienced investors or buyers seeking a full rehab project. Cash only. Buyer to verify all information and condition.

3. 2026-03-04
   listed $35,900 Active 609-char remark

   Show marketing remark (609 chars)

   Investor special with significant renovation opportunity in Detroit. This property offers a spacious layout with 2 bedrooms, 2.5 bathrooms, and an upper-level loft with a second kitchen, along with a finished basement and fenced yard. Please note: the home requires substantial repairs. The front door is missing, kitchen cabinets and bathroom fixtures have been removed, plumbing has been cut in the basement, and there is a broken window. Property is being sold strictly as-is. Ideal for experienced investors or buyers seeking a full rehab project. Cash only. Buyer to verify all information and condition.

4. 2026-03-04
   listed $35,900 Active 609-char remark

   Show marketing remark (609 chars)

   Investor special with significant renovation opportunity in Detroit. This property offers a spacious layout with 2 bedrooms, 2.5 bathrooms, and an upper-level loft with a second kitchen, along with a finished basement and fenced yard. Please note: the home requires substantial repairs. The front door is missing, kitchen cabinets and bathroom fixtures have been removed, plumbing has been cut in the basement, and there is a broken window. Property is being sold strictly as-is. Ideal for experienced investors or buyers seeking a full rehab project. Cash only. Buyer to verify all information and condition.

5. 2026-03-04
   historical

   Show marketing remark (609 chars)

   Investor special with significant renovation opportunity in Detroit. This property offers a spacious layout with 2 bedrooms, 2.5 bathrooms, and an upper-level loft with a second kitchen, along with a finished basement and fenced yard. Please note: the home requires substantial repairs. The front door is missing, kitchen cabinets and bathroom fixtures have been removed, plumbing has been cut in the basement, and there is a broken window. Property is being sold strictly as-is. Ideal for experienced investors or buyers seeking a full rehab project. Cash only. Buyer to verify all information and condition.

6. 2026-02-25
   status Active
7. 2026-02-25
   status Active
8. 2026-02-21
   historical Accepting Backup Offers
9. 2026-02-21
   historical Active Under Contract
10. 2026-01-28
    status Pending
11. 2026-01-27
    status Pending
12. 2025-12-03
    listed $37,900 Active
13. 2025-12-03
    listed $37,900 Active
14. 2025-11-29
    historical

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $804 · $67/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 3/10 Moderate 7 d/yr ≥96°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: $15,169
• − Mortgage interest: −$2,011
• − Property taxes: −$804
• − Insurance: −$180
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$1,044
• Taxable income: $8,703
• Est. tax owed @ 24.0%: −$2,089
• After-tax cash flow: $6,652/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

-5.3% since first listed

14 events — show timeline

• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — REALCOMP
• 2026-03-04 Listing Removed — MiRealSource-MiMLS
• 2026-03-04 Listed $35,900 REALCOMP
• 2026-03-04 Listed $35,900 MiRealSource-MiMLS
• 2026-02-25 Relisted — MiRealSource-MiMLS
• 2026-02-25 Relisted — REALCOMP
• 2026-02-21 Contingent — MiRealSource-MiMLS
• 2026-02-21 Contingent — REALCOMP
• 2026-01-28 Pending — MiRealSource-MiMLS
• 2026-01-27 Pending — REALCOMP
• 2025-12-03 Listed $37,900 MiRealSource-MiMLS
• 2025-12-03 Listed $37,900 REALCOMP
• 2025-11-29 Coming Soon — MiRealSource-MiMLS

Property tax history

-3.5%/yr

Latest (2025): $804 · -38.1% YoY. Source: county tax records.