13524 Faust Ave · Detroit, MI 48223

$45,950

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 35 Days on market

Built 1924 4,792 sqft lot $48/sqft · 8% below area Est $50k · 8% 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 +11.0/15.0
• 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

For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1924

Property features AI

Finance

• Other: Property listed as residential, single family

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.11 acres (35 x 140.56)

Interior

• Bedrooms: Total of 5 rooms (bedrooms not individually detailed)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $45k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.4% 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: 158 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 33% of the median local income ($45k/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 $318 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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 $15k; list at $46k implies a 206% 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 $44,571 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.68% ✓
• Cap rate: 23.43%
• Cash-on-cash: 61.22%
• DSCR: 3.72
• GRM: 3.1

CMA / ARV

• ARV (median comp): $49,884
• List price: $45,950
• Delta: -7.89%
• 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
13564 Faust Ave	0.04mi	2/1.0	951 (-1%)	5mo	$60,000	$63	92
12950 Glastonbury Ave	0.13mi	3/1.0 (+1)	958 (-0%)	4mo	$40,000	$42	85
13591 Faust Ave	0.07mi	2/1.0	891 (-7%)	7mo	$30,000	$34	79
13538 Penrod St	0.06mi	3/1.0 (+1)	1,026 (+7%)	3mo	$95,000	$93	78
12900 Stahelin Ave	0.21mi	3/1.0 (+1)	924 (-4%)	6mo	$50,000	$54	74
13523 Faust Ave	0.03mi	3/1.0 (+1)	1,098 (+14%)	2mo	$55,000	$50	68
12660 Grandmont Ave	0.68mi	3/1.0 (+1)	1,019 (+6%)	1mo	$85,000	$83	52
13961 Piedmont St	0.45mi	3/1.0 (+1)	1,083 (+13%)	2mo	$130,000	$120	51
12699 Woodmont Ave	0.70mi	3/1.0 (+1)	1,054 (+10%)	1mo	$64,000	$61	45
12892 Asbury Park	0.75mi	2/1.0	872 (-9%)	10mo	$82,400	$94	42
13904 Abington Ave	0.55mi	3/1.0 (+1)	1,082 (+13%)	10mo	$145,000	$134	39
12887 Asbury Park	0.72mi	3/2.0 (+1)	1,084 (+13%)	11mo	$139,900	$129	27

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: 60.1%
• Equity multiple: 3.67×
• Total profit: $34,377
• Equity at exit: $6,851

10-year hold

• IRR: 64.8%
• Equity multiple: 7.52×
• Total profit: $83,841
• Equity at exit: $3,973

Cash invested: $12,866 (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 48223

• Active inventory: 158
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,233 high
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $689/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $656

Break-even live

Break-even rent $402

Max offer price $45,950

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: $11,488
• Closing costs: $1,378
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.05mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.08mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	0.14mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.14mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	0.15mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.19mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	0.26mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	43d	1	0.32mi
12611 Memorial St Unit 629104 Detroit, MI	1.0	1.0	700	$995	$1.42	43d	1	0.57mi
12611 Memorial St Unit 629203 Detroit, MI	1.0	1.0	635	$995	$1.57	24d	1	0.57mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	43d	1	0.65mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.65mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	0.72mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	0.75mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.80mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	43d	1	0.81mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	43d	1	0.85mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	0.90mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	43d	1	1.00mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	1.03mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	1.13mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	12d	1	1.13mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	16d	1	1.14mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	1.23mi
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	21d	1	1.25mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	43d	1	1.26mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	43d	1	1.29mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	24d	1	1.32mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	21d	1	1.32mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	1.37mi
14835 Greenfield Rd Detroit, MI	1.0	1.0	650	$825	$1.27	43d	1	1.45mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	43d	1	1.45mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	43d	1	1.46mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	16d	1	1.50mi

Listing history 35 events

1. 2026-06-18
   days on market $45,950 Active 35 DOM
2. 2026-06-17
   days on market $45,950 Active 34 DOM
3. 2026-06-15
   days on market $45,950 Active 32 DOM
4. 2026-06-13
   days on market $45,950 Active 30 DOM
5. 2026-06-13
   days on market $45,950 Active 29 DOM
6. 2026-06-09
   days on market $45,950 Active 26 DOM
7. 2026-06-08
   days on market $45,950 Active 25 DOM
8. 2026-06-07
   days on market $45,950 Active 24 DOM
9. 2026-06-04
   days on market $45,950 Active 21 DOM
10. 2026-06-03
    days on market $45,950 Active 20 DOM
11. 2026-06-02
    days on market $45,950 Active 19 DOM
12. 2026-06-01
    days on market $45,950 Active 18 DOM
13. 2026-05-31
    days on market $45,950 Active 17 DOM
14. 2026-05-14
    listed $45,950 Active
15. 2026-05-14
    listed $45,950 Active
16. 2022-01-13
    price $800
17. 2020-06-05
    soldstatus $15,000 Sold

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

18. 2020-06-05
    soldstatus $15,000 Closed

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

19. 2020-04-03
    status Pending

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

20. 2020-04-03
    status Pending

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

21. 2020-03-15
    price $18,500
22. 2020-03-14
    price $18,500

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

23. 2020-03-03
    price $19,500

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

24. 2020-03-03
    price $19,500

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

25. 2020-02-04
    price $19,900
26. 2020-02-03
    price $19,900

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

27. 2020-01-20
    listed $24,900 Active

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

28. 2020-01-20
    listed $24,900 Active

    Show marketing remark (290 chars)

    For virtual tours/lockbox information, please contact an agent. Take a look at your next investment opportunity. This house features two bedrooms and one full bathroom. Includes full unfinished basement and detached two car garage. Conveniently located close to major freeways and shopping.

29. 2013-03-08
    soldstatus $1,500
30. 2013-03-08
    soldstatus $1,500
31. 2013-02-21
    historical
32. 2013-02-16
    listed $1,000
33. 2013-02-16
    listed $1,000
34. 2002-04-12
    soldstatus $65,000
35. 2001-06-28
    soldstatus $14,000

ⓘ 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 ≥98°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: $14,794
• − Mortgage interest: −$2,574
• − Property taxes: −$689
• − Insurance: −$230
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$1,337
• Taxable income: $7,597
• Est. tax owed @ 24.0%: −$1,823
• After-tax cash flow: $6,053/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -303.41%
• Current HPI: 138.2779
• Rent YoY: —
• 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

22 events — show timeline

• 2026-05-14 Listed $45,950 REALCOMP
• 2026-05-14 Listed $45,950 MiRealSource-MiMLS
• 2022-01-13 Price Changed $800 RENT.
• 2020-06-05 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2020-06-05 Sold (MLS) $15,000 REALCOMP
• 2020-04-03 Pending — MiRealSource-MiMLS
• 2020-04-03 Pending — REALCOMP
• 2020-03-15 Price Changed $18,500 MiRealSource-MiMLS
• 2020-03-14 Price Changed $18,500 REALCOMP
• 2020-03-03 Price Changed $19,500 MiRealSource-MiMLS
• 2020-03-03 Price Changed $19,500 REALCOMP
• 2020-02-04 Price Changed $19,900 MiRealSource-MiMLS
• 2020-02-03 Price Changed $19,900 REALCOMP
• 2020-01-20 Listed $24,900 MiRealSource-MiMLS
• 2020-01-20 Listed $24,900 REALCOMP
• 2013-03-08 Sold (MLS) $1,500 MiRealSource-MiMLS
• 2013-03-08 Sold (MLS) $1,500 REALCOMP
• 2013-02-21 Listing Removed — MiRealSource-MiMLS
• 2013-02-16 Listed $1,000 MiRealSource-MiMLS
• 2013-02-16 Listed $1,000 REALCOMP
• 2002-04-12 Sold (Public Records) $65,000 Public Records
• 2001-06-28 Sold (Public Records) $14,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,652 · +0.9% YoY. Source: county tax records.