12920 E Canfield St · Detroit, MI 48215

$39,900

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 1 Days on market

Built 1970 6,098 sqft lot Est $54k · 26% under ↓ 34% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 12920 E Canfield! Great Investment opportunity . 3 bedroom and 1 bathroom ranch home. Large lot. Bring all offers. Please do not disturb tenants. BTVAI

Key facts

• 6,098 sq ft lot
• Built 1970

Property features AI

Finance

• Financial info: Annual tax listed (see broker) $929

Exterior

• Parking: No garage
• Utilities: Water available; Sewer available
• Home design: Single-family residence; One level with ground-level entry
• Construction: Aluminum siding
• Exterior features: Paved road access; Lot approximately 0.14 acres (40 x 156.36)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Crawl space basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 25.0% 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: 137 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $276 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 19y 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 $12k; list at $40k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.94% ✓
• Cap rate: 25.00%
• Cash-on-cash: 66.80%
• DSCR: 3.97
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $53,808
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4159 Springle St	0.23mi	3/1.0	917 (+0%)	14mo	$54,000	$59	76
4133 Lenox St	0.24mi	3/1.0	968 (+6%)	5mo	$18,101	$19	74
3945 Lenox St	0.30mi	2/1.0 (-1)	834 (-9%)	1mo	$51,000	$61	66
4194 Algonquin St	0.22mi	3/1.0	1,040 (+14%)	5mo	$69,000	$66	62
4315 Algonquin St	0.19mi	3/1.0	1,040 (+14%)	10mo	$59,500	$57	59
13118 Frankfort St	0.39mi	2/1.0 (-1)	882 (-3%)	18mo	$38,500	$44	57
3958 Lenox St	0.30mi	3/1.0	1,024 (+12%)	14mo	$60,000	$59	54
3416 Algonquin St	0.52mi	3/1.0	967 (+6%)	21mo	$90,000	$93	48
4810 Ashland St	0.74mi	3/1.5	872 (-4%)	22mo	$65,000	$75	38

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: 66.1%
• Equity multiple: 3.97×
• Total profit: $33,181
• Equity at exit: $5,949

10-year hold

• IRR: 70.4%
• Equity multiple: 8.16×
• Total profit: $80,046
• Equity at exit: $3,450

Cash invested: $11,172 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$209
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $622

Break-even live

Break-even rent $388

Max offer price $39,900

Occupancy floor 42%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4667 Eastlawn St Detroit, MI	3.0	1.0	646	$1,095	$1.70	3d	1	0.28mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	1.01mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	1.03mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.04mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	17d	1	1.05mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	43d	1	1.08mi
1367 Wayburn St Unit 1 Grosse Pointe Park, MI	3.0	1.0	816	$1,250	$1.53	43d	1	1.09mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	24d	1	1.13mi
1314 Maryland St Grosse Pointe Park, MI	2.0	1.0	1008	$1,250	$1.24	43d	1	1.21mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	21d	1	1.23mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	3d	1	1.23mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	5d	1	1.23mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.24mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	1.25mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	1.29mi
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	1.31mi
3049 Montclair St Unit 1 Detroit, MI	2.0	1.0	850	$950	$1.12	43d	1	1.38mi
1236 Beaconsfield Ave Unit 1 Grosse Pointe Park, MI	2.0	1.0	1100	$1,600	$1.45	24d	1	1.39mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.42mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	1.46mi
1050 Lakewood St Unit 1S Detroit, MI	2.0	1.0	896	$1,100	$1.23	43d	1	1.47mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	1.48mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	1.49mi

Listing history 2 events

1. 2026-06-19
   remarks 162-char remark
2. 2026-06-19
   listed $39,900 Active 1 DOM

ⓘ 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: $964 · $80/mo
• Projected year-2 tax: $964 · $80/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 · 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: $14,098
• − Mortgage interest: −$2,235
• − Property taxes: −$964
• − Insurance: −$200
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$1,161
• Taxable income: $7,283
• Est. tax owed @ 24.0%: −$1,748
• After-tax cash flow: $5,715/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

-33.5% since first listed

30 events — show timeline

• 2026-06-18 Listed $39,900 REALCOMP
• 2026-06-18 Listed $39,900 MiRealSource-MiMLS
• 2025-12-01 Listing Removed — REALCOMP
• 2025-12-01 Listing Removed — MiRealSource-MiMLS
• 2025-07-30 Listed $37,500 REALCOMP
• 2025-07-27 Listed $37,500 MiRealSource-MiMLS
• 2025-07-01 Listing Removed — MiRealSource-MiMLS
• 2025-07-01 Listing Removed — REALCOMP
• 2025-05-02 Price Changed $35,000 MiRealSource-MiMLS
• 2025-05-02 Price Changed $35,000 REALCOMP
• 2025-02-17 Listed $39,900 REALCOMP
• 2025-02-17 Listed $39,900 MiRealSource-MiMLS
• 2021-09-03 Listing Removed — REALCOMP
• 2021-09-03 Listing Removed — MiRealSource-MiMLS
• 2021-07-19 Listed $49,900 MiRealSource-MiMLS
• 2021-07-19 Listed $49,900 REALCOMP
• 2018-10-08 Pending — MiRealSource-MiMLS
• 2018-10-08 Pending — REALCOMP
• 2018-09-28 Sold (MLS) $12,000 MiRealSource-MiMLS
• 2018-09-28 Sold (MLS) $12,000 REALCOMP
• 2018-09-21 Relisted — REALCOMP
• 2018-09-12 Listing Removed — REALCOMP
• 2018-08-10 Relisted — MiRealSource-MiMLS
• 2018-08-10 Relisted — REALCOMP
• 2018-07-09 Pending — MiRealSource-MiMLS
• 2018-07-09 Pending — REALCOMP
• 2018-06-27 Listed $15,000 MiRealSource-MiMLS
• 2018-06-27 Listed $15,000 REALCOMP
• 2007-12-15 Listing Removed — REALCOMP
• 2007-08-15 Listed $60,000 REALCOMP

Property tax history

-0.2%/yr

Latest (2025): $964 · +3.8% YoY. Source: county tax records.