1200 S Ethel St · Detroit, MI 48217

$54,900

3 bd · 1.0 ba · 927 sqft · SingleFamily public records · 26 Days on market

Built 1953 5,227 sqft lot Est $85k · 36% under

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Why this score? — see what drove the A- 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
• Appreciation +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bath bungalow offering 927 sq ft of living space plus a full basement and detached 2-car garage. This home features a functional layout, spacious backyard, and solid potential for an owner-occupant or investor. Property offers a great opportunity to add your personal touch and updates over time. Conveniently located near major roads, schools, parks, and local amenities. Don't miss this affordable opportunity to own a single-family home in Detroit. Sold as-is. Buyer to verify all information.

Key facts

• Spacious backyard
• Full basement
• 5,227 sq ft lot

Tags

• FULL BASEMENT
• SPACIOUS BACKYARD
• DETACHED 2-CAR GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Natural gas water heater; Public water source
• Home design: Single-family residence; Residential property; Built in 1953
• Construction: Vinyl siding; Shingle roof; Living area approximately 1827
• Exterior features: Corner lot with sidewalk; Paved road access; Public water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Michigan-style basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 10.1% 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: 26 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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

• In year one you build about $440 of equity ($380 loan paydown + $60 appreciation (0.1% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 3 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: flood insurance adds $56/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,076 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.94% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.13%
• DSCR: 2.65
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $85,284
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1320 S Bassett St	0.13mi	3/1.0	900 (-3%)	8mo	$82,000	$91	82
1288 S Liddesdale St	0.24mi	3/1.0	922 (-0%)	9mo	$94,000	$102	80
42 E Henry St	0.70mi	3/1.0	916 (-1%)	0mo	$115,000	$126	65
319 Polk Ave	0.49mi	2/1.0 (-1)	912 (-2%)	6mo	$38,500	$42	64
1688 S Ethel St	0.33mi	3/1.0	849 (-8%)	10mo	$78,000	$92	62
285 Campbell St	0.32mi	3/1.0	1,029 (+11%)	6mo	$125,000	$121	62
1680 S Ethel St	0.33mi	3/1.5	849 (-8%)	11mo	$35,500	$42	59
349 Frazier St	0.50mi	3/2.0	1,036 (+12%)	2mo	$120,000	$116	52
111 Burke St	0.73mi	2/1.0 (-1)	1,000 (+8%)	5mo	$24,000	$24	44
413 Frazier St	0.67mi	3/1.0	1,021 (+10%)	10mo	$95,000	$93	44
123 Burke St	0.71mi	4/1.0 (+1)	1,032 (+11%)	1mo	$45,625	$44	42
150 Division St	0.47mi	2/1.0 (-1)	792 (-15%)	9mo	$59,800	$76	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.7%
• Equity multiple: 2.66×
• Total profit: $25,470
• Equity at exit: $16,239

10-year hold

• IRR: 37.0%
• Equity multiple: 5.18×
• Total profit: $64,318
• Equity at exit: $19,760

Cash invested: $15,372 (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 48217

• Home prices YoY: 0.0%
• Active inventory: 26
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,064 high
• Mortgage (P&I): −$288
• Tax from tax record: −$54 /mo · $648/yr
• Insurance: −$23
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $420

Break-even live

Break-even rent $532

Max offer price $54,900

Occupancy floor 56%

Sensitivity live

Price	-10% $451	-5% $436	+0% $420	+5% $405	+10% $389
Rent	-10% $336	-5% $378	+0% $420	+5% $462	+10% $504
Rate	-1.0pp $448	-0.5pp $434	base $420	+0.5pp $406	+1.0pp $391

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,120	$1.21	44d	1	0.10mi
1139 S Bassett St Detroit, MI	3.0	1.0	927	$1,050	$1.13	25d	1	0.10mi
17 W James St Unit 17 W James Lower River Rouge, MI	2.0	1.0	900	$950	$1.06	16d	1	0.56mi
97 Batavia St Unit 1 River Rouge, MI	2.0	1.0	900	$825	$0.92	25d	1	0.86mi
3748 15th St Ecorse, MI	2.0	1.0	528	$1,099	$2.08	17d	1	1.15mi
764 Woodmere St Apt 8 Detroit, MI	2.0	1.0	990	$1,100	$1.11	44d	1	1.45mi

Listing history 16 events

1. 2026-06-17
   status $54,900 Pending 26 DOM
2. 2026-06-17
   days on market $54,900 Active 26 DOM
3. 2026-06-15
   days on market $54,900 Active 24 DOM
4. 2026-06-13
   days on market $54,900 Active 22 DOM
5. 2026-06-13
   days on market $54,900 Active 21 DOM
6. 2026-06-09
   days on market $54,900 Active 18 DOM
7. 2026-06-08
   days on market $54,900 Active 17 DOM
8. 2026-06-07
   days on market $54,900 Active 16 DOM
9. 2026-06-04
   days on market $54,900 Active 13 DOM
10. 2026-06-03
    days on market $54,900 Active 12 DOM
11. 2026-06-02
    days on market $54,900 Active 11 DOM
12. 2026-06-01
    days on market $54,900 Active 10 DOM
13. 2026-05-31
    days on market $54,900 Active 9 DOM
14. 2026-05-22
    listed $54,900 Active

    Show marketing remark (518 chars)

    Charming 3-bedroom, 2-bath bungalow offering 927 sq ft of living space plus a full basement and detached 2-car garage. This home features a functional layout, spacious backyard, and solid potential for an owner-occupant or investor. Property offers a great opportunity to add your personal touch and updates over time. Conveniently located near major roads, schools, parks, and local amenities. Don't miss this affordable opportunity to own a single-family home in Detroit. Sold as-is. Buyer to verify all information.

15. 2026-05-22
    listed $54,900 Active 518-char remark

    Show marketing remark (518 chars)

    Charming 3-bedroom, 2-bath bungalow offering 927 sq ft of living space plus a full basement and detached 2-car garage. This home features a functional layout, spacious backyard, and solid potential for an owner-occupant or investor. Property offers a great opportunity to add your personal touch and updates over time. Conveniently located near major roads, schools, parks, and local amenities. Don't miss this affordable opportunity to own a single-family home in Detroit. Sold as-is. Buyer to verify all information.

16. 2026-05-22
    listed $54,900 Active 518-char remark

    Show marketing remark (518 chars)

    Charming 3-bedroom, 2-bath bungalow offering 927 sq ft of living space plus a full basement and detached 2-car garage. This home features a functional layout, spacious backyard, and solid potential for an owner-occupant or investor. Property offers a great opportunity to add your personal touch and updates over time. Conveniently located near major roads, schools, parks, and local amenities. Don't miss this affordable opportunity to own a single-family home in Detroit. Sold as-is. Buyer to verify all information.

ⓘ 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: $648 · $54/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$99/yr (+$8/mo · 15.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,765
• − Mortgage interest: −$3,075
• − Property taxes: −$648
• − Insurance: −$941
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$1,597
• Taxable income: $4,462
• Est. tax owed @ 24.0%: −$1,071
• After-tax cash flow: $3,970/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): 6,437

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 (78%)
• Race & ethnicity: Black 78% Hispanic / Latino 12% Two or more races 10% White 4%
• Hispanic origin (detail): Mexican 5% Dominican 4%
• Common ancestry: Lithuanian 6% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▲ 0.11%
• Current HPI: 366.479
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-22 Listed $54,900 MiRealSource-MiMLS
• 2026-05-22 Listed $54,900 REALCOMP
• 2026-05-22 Listed $54,900 SW Michigan MLS

Property tax history

-2.7%/yr

Latest (2025): $648 · -37.3% YoY. Source: county tax records.