11881 Saint Patrick St · Detroit, MI 48205

$65,000

6 bd · 2.0 ba · 2,208 sqft · Townhouse public records · 78 Days on market

Built 1926 5,227 sqft lot $29/sqft · 34% below area Est $98k · 34% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

An excellent opportunity in Detroit, for investors seeking a value-add property with solid upside. Priced at $65,000. It's ideal for those looking to build equity and generate rental income. The upper unit has already been prepped for renovation, with interior demolition completed, allowing you to move quickly into the rehab process. Lower unit offers additional upside with room for improvements. Property has solid bones and significant potential for increased value. Property's SEV has been temporarily reduced during the renovation process. Buyer should verify current and future tax assessments with the local assessor. BATVAI Property is being sold as-is. Showings are by appointment only - please contact listing agent to schedule.

Key facts

• 5,227 sq ft lot
• Built 1926
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.0% 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; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,123/mo this rent would consume 65% of the median local household income ($39k/yr) (locally 2121% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 1.3% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 7y ago 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.
• Current owner paid $26k; list at $65k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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: 3.27% ✓
• Cap rate: 28.96%
• Cash-on-cash: 80.95%
• DSCR: 4.60
• GRM: 2.6

CMA / ARV

• ARV (median comp): $97,934
• List price: $65,000
• Delta: -33.63%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 79.3%
• Equity multiple: 4.53×
• Total profit: $64,187
• Equity at exit: $9,692

10-year hold

• IRR: 82.3%
• Equity multiple: 8.85×
• Total profit: $142,791
• 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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,123 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $1,228

Break-even live

Break-even rent $569

Max offer price $65,000

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

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18080 Westphalia St Detroit, MI	5.0	3.0	2131	$2,500	$1.17	44d	1	1.10mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	24d	1	1.29mi

Listing history 50 events

1. 2026-06-18
   days on market $65,000 Active 78 DOM
2. 2026-06-17
   days on market $65,000 Active 77 DOM
3. 2026-06-15
   days on market $65,000 Active 75 DOM
4. 2026-06-13
   days on market $65,000 Active 73 DOM
5. 2026-06-13
   days on market $65,000 Active 72 DOM
6. 2026-06-09
   days on market $65,000 Active 69 DOM
7. 2026-06-08
   days on market $65,000 Active 68 DOM
8. 2026-06-07
   days on market $65,000 Active 67 DOM
9. 2026-06-04
   days on market $65,000 Active 64 DOM
10. 2026-06-03
    days on market $65,000 Active 63 DOM
11. 2026-06-02
    days on market $65,000 Active 62 DOM
12. 2026-06-01
    days on market $65,000 Active 61 DOM
13. 2026-05-31
    days on market $65,000 Active 60 DOM
14. 2026-04-01
    listed $65,000 Active 740-char remark

    Show marketing remark (756 chars)

    An excellent opportunity in Detroit, for investors seeking a value-add property with solid upside. Priced at $65,000. It’s ideal for those looking to build equity and generate rental income. The upper unit has already been prepped for renovation, with interior demolition completed, allowing you to move quickly into the rehab process. Lower unit offers additional upside with room for improvements. Property has solid bones and significant potential for increased value. Property’s SEV has been temporarily reduced during the renovation process. Buyer should verify current and future tax assessments with the local assessor. BATVAI Property is being sold as-is. Showings are by appointment only—please contact listing agent to schedule.

15. 2026-04-01
    listed $65,000 Active 756-char remark

    Show marketing remark (756 chars)

    An excellent opportunity in Detroit, for investors seeking a value-add property with solid upside. Priced at $65,000. It’s ideal for those looking to build equity and generate rental income. The upper unit has already been prepped for renovation, with interior demolition completed, allowing you to move quickly into the rehab process. Lower unit offers additional upside with room for improvements. Property has solid bones and significant potential for increased value. Property’s SEV has been temporarily reduced during the renovation process. Buyer should verify current and future tax assessments with the local assessor. BATVAI Property is being sold as-is. Showings are by appointment only—please contact listing agent to schedule.

16. 2026-03-30
    listed $65,000 Active
17. 2026-03-30
    listed $65,000 Active
18. 2026-02-24
    soldstatus $26,500
19. 2026-02-23
    soldstatus $26,500 Closed
20. 2026-02-23
    soldstatus $26,500 Closed
21. 2026-02-23
    soldstatus $26,500 Closed
22. 2026-02-23
    soldstatus $26,500 Closed
23. 2026-02-18
    status Pending
24. 2026-02-18
    status Pending
25. 2026-02-18
    status Pending
26. 2026-02-18
    status Pending
27. 2026-02-12
    listed $33,500 Active
28. 2026-02-12
    listed $33,500 Active
29. 2026-02-12
    listed $33,500 Active
30. 2026-02-12
    listed $33,500 Active
31. 2026-02-06
    historical
32. 2026-02-06
    historical
33. 2026-02-06
    historical
34. 2026-02-06
    historical
35. 2026-01-21
    listed $35,000 Active
36. 2026-01-21
    listed $35,000 Active
37. 2026-01-21
    listed $35,000 Active
38. 2026-01-21
    listed $35,000 Active
39. 2025-12-09
    historical Accepting Backup Offers
40. 2025-12-09
    historical Accepting Backup Offers
41. 2025-12-09
    historical Active Under Contract
42. 2025-12-09
    historical Active Under Contract
43. 2025-12-09
    historical
44. 2025-12-09
    historical
45. 2025-12-09
    historical
46. 2025-12-09
    historical
47. 2025-12-02
    listed $35,000 Active
48. 2025-12-02
    listed $35,000 Active
49. 2025-12-02
    listed $35,000 Active
50. 2025-12-02
    listed $35,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $25,473
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − Depreciation: −$1,891
• Taxable income: $14,565
• Est. tax owed @ 24.0%: −$3,496
• After-tax cash flow: $11,237/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

+228.2% since first listed

54 events — show timeline

• 2026-04-01 Listed $65,000 REALCOMP
• 2026-04-01 Listed $65,000 MiRealSource-MiMLS
• 2026-03-30 Listed $65,000 MiRealSource-MiMLS
• 2026-03-30 Listed $65,000 REALCOMP
• 2026-02-24 Sold (Public Records) $26,500 Public Records
• 2026-02-23 Sold (MLS) $26,500 REALCOMP
• 2026-02-23 Sold (MLS) $26,500 REALCOMP
• 2026-02-23 Sold (MLS) $26,500 MiRealSource-MiMLS
• 2026-02-23 Sold (MLS) $26,500 MiRealSource-MiMLS
• 2026-02-18 Pending — MiRealSource-MiMLS
• 2026-02-18 Pending — MiRealSource-MiMLS
• 2026-02-18 Pending — REALCOMP
• 2026-02-18 Pending — REALCOMP
• 2026-02-12 Listed $33,500 REALCOMP
• 2026-02-12 Listed $33,500 REALCOMP
• 2026-02-12 Listed $33,500 MiRealSource-MiMLS
• 2026-02-12 Listed $33,500 MiRealSource-MiMLS
• 2026-02-06 Listing Removed — MiRealSource-MiMLS
• 2026-02-06 Listing Removed — MiRealSource-MiMLS
• 2026-02-06 Listing Removed — REALCOMP
• 2026-02-06 Listing Removed — REALCOMP
• 2026-01-21 Listed $35,000 REALCOMP
• 2026-01-21 Listed $35,000 REALCOMP
• 2026-01-21 Listed $35,000 MiRealSource-MiMLS
• 2026-01-21 Listed $35,000 MiRealSource-MiMLS
• 2025-12-09 Contingent — MiRealSource-MiMLS
• 2025-12-09 Contingent — MiRealSource-MiMLS
• 2025-12-09 Contingent — REALCOMP
• 2025-12-09 Contingent — REALCOMP
• 2025-12-09 Listing Removed — REALCOMP
• 2025-12-09 Listing Removed — REALCOMP
• 2025-12-09 Listing Removed — MiRealSource-MiMLS
• 2025-12-09 Listing Removed — MiRealSource-MiMLS
• 2025-12-02 Listed $35,000 REALCOMP
• 2025-12-02 Listed $35,000 REALCOMP
• 2025-12-02 Listed $35,000 MiRealSource-MiMLS
• 2025-12-02 Listed $35,000 MiRealSource-MiMLS
• 2025-11-26 Listing Removed — MiRealSource-MiMLS
• 2025-11-26 Listing Removed — REALCOMP
• 2025-11-23 Listed $49,900 REALCOMP
• 2025-11-23 Listed $49,900 MiRealSource-MiMLS
• 2025-11-13 Listing Removed — MiRealSource-MiMLS
• 2025-11-13 Listing Removed — REALCOMP
• 2025-09-30 Price Changed $69,900 MiRealSource-MiMLS
• 2025-09-30 Price Changed $69,900 REALCOMP
• 2025-09-22 Listed $74,900 REALCOMP
• 2025-09-22 Listed $74,900 MiRealSource-MiMLS
• 2020-02-24 Listing Removed — REALCOMP
• 2020-02-24 Listing Removed — MiRealSource-MiMLS
• 2020-01-16 Price Changed $48,000 MiRealSource-MiMLS
• 2020-01-15 Price Changed $48,000 REALCOMP
• 2019-10-19 Listed $50,000 MiRealSource-MiMLS
• 2019-10-19 Listed $50,000 REALCOMP
• 1994-09-02 Sold (Public Records) $19,805 Public Records

Property tax history

+9.7%/yr

Latest (2025): $3,882 · +111.4% YoY. Source: county tax records.