6031 Crane St · Detroit, MI 48213

$12,500

3 bd · 1.0 ba · 1,406 sqft · SingleFamily public records · 2 Days on market

Built 1914 3,049 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 the latest offering from the Detroit land Bank Authority. This east side frame colonial is in need of a total rehab. However, once it is fixed up should prove to be a welcome investment home for any investor. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

Key facts

• 3,049 sq ft lot
• Built 1914
• Listed 2 days

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Vinyl siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 30 x 109.5 (0.07 acres)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Cap rate 99.4% 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: 190 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $1,337/mo this rent would consume 47% of the median local household income ($34k/yr) (locally 1202% 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 $86 of loan paydown is wiped out by about $375 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $12,500

Questions for the listing agent

1. Built in 1914 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 10.70% ✓
• Cap rate: 99.41%
• Cash-on-cash: 332.55%
• DSCR: 15.80
• GRM: 0.8

CMA / ARV

• ARV (on-the-fly): $26,714
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5239 Crane St	0.50mi	3/1.0	1,404 (-0%)	4mo	$24,500	$17	73
5171 Burns St	0.53mi	3/1.0	1,425 (+1%)	3mo	$20,000	$14	71
6026 Maxwell St	0.31mi	4/1.0 (+1)	1,266 (-10%)	2mo	$10,000	$8	62
5406 Iroquois St	0.43mi	4/1.0 (+1)	1,371 (-2%)	11mo	$80,000	$58	61
8901 Isham Ave	0.50mi	3/1.0	1,380 (-2%)	16mo	$35,000	$25	60
6631 Seminole St	0.41mi	3/1.5	1,248 (-11%)	2mo	$24,000	$19	59
5326 Belvidere St	0.51mi	4/1.5 (+1)	1,469 (+4%)	5mo	$82,500	$56	57
5855 Hurlbut St	0.57mi	3/1.0	1,296 (-8%)	5mo	$119,900	$93	56
6659 Fischer St	0.33mi	3/1.0	1,200 (-15%)	6mo	$22,000	$18	56
9142 Isham Ave	0.67mi	3/1.0	1,420 (+1%)	16mo	$38,000	$27	53
9138 Fischer St	0.69mi	3/1.5	1,296 (-8%)	4mo	$19,000	$15	50
6215 Field St	0.73mi	3/1.0	1,229 (-13%)	3mo	$13,000	$11	42

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: —
• Equity multiple: 18.08×
• Total profit: $59,771
• Equity at exit: $1,864

10-year hold

• IRR: —
• Equity multiple: 38.62×
• Total profit: $131,676
• Equity at exit: $1,081

Cash invested: $3,500 (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 48213

• Active inventory: 190
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,337 high
• Mortgage (P&I): −$66
• Tax est. 1.5%: −$16 /mo · $188/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $970

Break-even live

Break-even rent $109

Max offer price $12,500

Occupancy floor 22%

Sensitivity live

Price	-10% $979	-5% $974	+0% $970	+5% $966	+10% $961
Rent	-10% $864	-5% $917	+0% $970	+5% $1,023	+10% $1,076
Rate	-1.0pp $976	-0.5pp $973	base $970	+0.5pp $967	+1.0pp $963

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.23mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	0.42mi
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.54mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	25d	1	0.57mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	0.61mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	0.65mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	18d	1	0.92mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	18d	1	0.94mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	1.01mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	25d	1	1.12mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.19mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.22mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.22mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	44d	1	1.48mi

Listing history 3 events

1. 2026-06-18
   days on market $12,500 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $12,500 Active 1 DOM

ⓘ 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: $16,045
• − Mortgage interest: −$700
• − Property taxes: −$188
• − Insurance: −$62
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$364
• Taxable income: $12,164
• Est. tax owed @ 24.0%: −$2,919
• After-tax cash flow: $8,720/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $12,500 REALCOMP
• 2026-06-16 Listed $12,500 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $2,222 · +1.0% YoY. Source: county tax records.