12617 Filbert St · Detroit, MI 48205

$66,900

2 bd · 1.0 ba · 540 sqft · SingleFamily public records · 88 Days on market

Built 1926 3,485 sqft lot $124/sqft · 184% above area

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• 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

A distinguished single-family residence awaits you on Detroit's east side. Elegant shaker cabinets provide ample storage, creating a streamlined and organized space for all your essentials. The bathroom offers a luxurious soaking tub that invites moments of tranquil repose. Beyond the interior, the property extends its appeal to the outdoors, providing space to create your own urban oasis. A well-proportioned deck offers an ideal setting for alfresco dining or simply basking in the fresh air. The extra lot provides a private, fenced area perfect for gardening or outdoor activities. This property presents a rare opportunity to embrace a simple and comfortable way of life.

Key facts

• 3,485 sq ft lot
• 2 garage spots
• Built 1926

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $67k).
• Recommended offer: $63k (6.0% 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 rising (+1.3%/yr); 373 active listings in the ZIP; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 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 + 1.3% rent growth), your $19k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,886 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1926 — 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: 1.42% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.43%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

• ARV (median comp): $37,110
• List price: $66,900
• Delta: 80.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17377 Hamburg St	0.74mi	2/1.0	581 (+8%)	19mo	$32,500	$56	37

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $6,903
• Equity at exit: $9,975

10-year hold

• IRR: 17.3%
• Equity multiple: 2.32×
• Total profit: $24,656
• Equity at exit: $5,784

Cash invested: $18,732 (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: 5.8×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $303

Break-even live

Break-even rent $569

Max offer price $66,900

Occupancy floor 63%

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14103 Rochelle Ave Unit 3 Detroit, MI	1.0	1.0	700	$800	$1.14	43d	1	0.61mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	17d	1	0.68mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	5d	1	1.07mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.40mi

Listing history 17 events

1. 2026-06-18
   days on market $66,900 Active 88 DOM
2. 2026-06-17
   days on market $66,900 Active 87 DOM
3. 2026-06-15
   days on market $66,900 Active 85 DOM
4. 2026-06-13
   days on market $66,900 Active 83 DOM
5. 2026-06-13
   days on market $66,900 Active 82 DOM
6. 2026-06-09
   days on market $66,900 Active 79 DOM
7. 2026-06-08
   days on market $66,900 Active 78 DOM
8. 2026-06-07
   days on market $66,900 Active 77 DOM
9. 2026-06-04
   days on market $66,900 Active 74 DOM
10. 2026-06-03
    days on market $66,900 Active 73 DOM
11. 2026-06-01
    days on market $66,900 Active 71 DOM
12. 2026-05-31
    days on market $66,900 Active 70 DOM
13. 2026-04-23
    price $66,900 679-char remark

    Show marketing remark (679 chars)

    A distinguished single-family residence awaits you on Detroit's east side. Elegant shaker cabinets provide ample storage, creating a streamlined and organized space for all your essentials. The bathroom offers a luxurious soaking tub that invites moments of tranquil repose. Beyond the interior, the property extends its appeal to the outdoors, providing space to create your own urban oasis. A well-proportioned deck offers an ideal setting for alfresco dining or simply basking in the fresh air. The extra lot provides a private, fenced area perfect for gardening or outdoor activities. This property presents a rare opportunity to embrace a simple and comfortable way of life.

14. 2026-04-22
    price $66,900 679-char remark

    Show marketing remark (679 chars)

    A distinguished single-family residence awaits you on Detroit's east side. Elegant shaker cabinets provide ample storage, creating a streamlined and organized space for all your essentials. The bathroom offers a luxurious soaking tub that invites moments of tranquil repose. Beyond the interior, the property extends its appeal to the outdoors, providing space to create your own urban oasis. A well-proportioned deck offers an ideal setting for alfresco dining or simply basking in the fresh air. The extra lot provides a private, fenced area perfect for gardening or outdoor activities. This property presents a rare opportunity to embrace a simple and comfortable way of life.

15. 2026-03-23
    listed $67,500 Active 679-char remark

    Show marketing remark (679 chars)

    A distinguished single-family residence awaits you on Detroit's east side. Elegant shaker cabinets provide ample storage, creating a streamlined and organized space for all your essentials. The bathroom offers a luxurious soaking tub that invites moments of tranquil repose. Beyond the interior, the property extends its appeal to the outdoors, providing space to create your own urban oasis. A well-proportioned deck offers an ideal setting for alfresco dining or simply basking in the fresh air. The extra lot provides a private, fenced area perfect for gardening or outdoor activities. This property presents a rare opportunity to embrace a simple and comfortable way of life.

16. 2026-03-23
    listed $67,500 Active 679-char remark

    Show marketing remark (679 chars)

    A distinguished single-family residence awaits you on Detroit's east side. Elegant shaker cabinets provide ample storage, creating a streamlined and organized space for all your essentials. The bathroom offers a luxurious soaking tub that invites moments of tranquil repose. Beyond the interior, the property extends its appeal to the outdoors, providing space to create your own urban oasis. A well-proportioned deck offers an ideal setting for alfresco dining or simply basking in the fresh air. The extra lot provides a private, fenced area perfect for gardening or outdoor activities. This property presents a rare opportunity to embrace a simple and comfortable way of life.

17. 2026-03-20
    historical $67,500 679-char remark

    Show marketing remark (679 chars)

    A distinguished single-family residence awaits you on Detroit's east side. Elegant shaker cabinets provide ample storage, creating a streamlined and organized space for all your essentials. The bathroom offers a luxurious soaking tub that invites moments of tranquil repose. Beyond the interior, the property extends its appeal to the outdoors, providing space to create your own urban oasis. A well-proportioned deck offers an ideal setting for alfresco dining or simply basking in the fresh air. The extra lot provides a private, fenced area perfect for gardening or outdoor activities. This property presents a rare opportunity to embrace a simple and comfortable way of life.

ⓘ 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: $852 · $71/mo
• Projected year-2 tax: $941 · $78/mo
• Expected delta: +$89/yr (+$7/mo · 10.4%)

ⓘ 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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,437
• − Mortgage interest: −$3,747
• − Property taxes: −$852
• − Insurance: −$334
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$1,946
• Taxable income: $2,727
• Est. tax owed @ 24.0%: −$654
• After-tax cash flow: $2,984/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

-0.9% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $66,900 MiRealSource-MiMLS
• 2026-04-22 Price Changed $66,900 REALCOMP
• 2026-03-23 Listed $67,500 MiRealSource-MiMLS
• 2026-03-23 Listed $67,500 REALCOMP
• 2026-03-20 Coming Soon $67,500 MiRealSource-MiMLS

Property tax history

+0.6%/yr

Latest (2025): $852 · -53.5% YoY. Source: county tax records.