12717 Indiana St · Detroit, MI 48238

$21,400

3 bd · 1.0 ba · 1,340 sqft · SingleFamily public records · 22 Days on market

Built 1924 3,920 sqft lot $16/sqft · 53% below area ↓ 37% since listing

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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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! Being sold as is! Complete rehab needed, but look at the size and low taxes. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

Key facts

• 3,920 sq ft lot
• Built 1924
• Listed 22 days

Property features AI

Finance

• Other: Lot approximately 0.09 acres (40 x 100)
• Financial info: No additional financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Driveway only (no garage)
• Security: No security features provided
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps; Wood siding construction
• Construction: Asphalt roof
• Exterior features: Covered porch; Paved road access

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Total of 6 rooms (bedrooms and living spaces included)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $21k.

Deal economics

• At list price, monthly cash flow is $826 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $21k).
• Recommended offer: $21k (1.5% below list) — sets the bar for market timing.
• Cap rate 52.6% 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 fast (+6.1%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 44% of the median local income ($33k/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 $148 of loan paydown is wiped out by about $642 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 + 6.1% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y ago; this cycle's ask has dropped $2k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,079 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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: 5.76% ✓
• Cap rate: 52.63%
• Cash-on-cash: 165.49%
• DSCR: 8.36
• GRM: 1.4

CMA / ARV

• ARV (median comp): $45,666
• List price: $21,400
• Delta: -47.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13586 Indiana St	0.34mi	3/1.0	1,298 (-3%)	2mo	$30,000	$23	78
12162 Kentucky St	0.27mi	3/1.0	1,415 (+6%)	4mo	$42,000	$30	74
13546 Ilene St	0.35mi	3/1.0	1,440 (+8%)	6mo	$32,000	$22	66
12027 Manor St	0.69mi	3/1.0	1,340 (0%)	3mo	$86,750	$65	65
12303 Cloverlawn St	0.35mi	3/1.5	1,454 (+8%)	4mo	$58,500	$40	64
11931 Wisconsin St	0.35mi	3/3.0	1,407 (+5%)	5mo	$135,900	$97	63
13903 Cloverlawn Ave	0.50mi	3/1.5	1,265 (-6%)	5mo	$140,000	$111	61
13955 Ohio St	0.49mi	3/1.0	1,448 (+8%)	5mo	$37,000	$26	60
12096 Meyers Rd	0.66mi	3/1.0	1,248 (-7%)	0mo	$30,000	$24	58
13581 Cloverlawn St	0.43mi	4/2.0 (+1)	1,240 (-8%)	4mo	$143,000	$115	55
13176 Manor St	0.54mi	3/1.5	1,478 (+10%)	2mo	$60,500	$41	54
14203 Cherrylawn St	0.66mi	3/2.0	1,250 (-7%)	5mo	$58,000	$46	50

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.88×
• Total profit: $53,201
• Equity at exit: $3,191

10-year hold

• IRR: —
• Equity multiple: 22.99×
• Total profit: $131,765
• Equity at exit: $1,850

Cash invested: $5,992 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,233 high
• Mortgage (P&I): −$112
• Tax est. 1.5%: −$27 /mo · $321/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $826

Break-even live

Break-even rent $187

Max offer price $21,400

Occupancy floor 28%

Sensitivity live

Price	-10% $841	-5% $834	+0% $826	+5% $819	+10% $812
Rent	-10% $729	-5% $778	+0% $826	+5% $875	+10% $924
Rate	-1.0pp $837	-0.5pp $832	base $826	+0.5pp $821	+1.0pp $815

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: $5,350
• Closing costs: $642
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	0.20mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	0.25mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	0.31mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.32mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.38mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.38mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.41mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	44d	1	0.47mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.55mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	0.64mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.65mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.65mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.69mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.73mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.73mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	22d	1	0.84mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	25d	1	0.84mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	44d	1	0.87mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.90mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	0.92mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	5d	1	0.93mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	0.94mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	0.94mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	0.99mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	44d	1	1.05mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	1.07mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	44d	1	1.09mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.09mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	1.10mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.12mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	44d	1	1.17mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	44d	1	1.20mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	1.25mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	1.25mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	44d	1	1.31mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.32mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	1.33mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	1.37mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.40mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	1.41mi

Listing history 35 events

1. 2026-06-18
   days on market $21,400 Active 22 DOM
2. 2026-06-17
   days on market $21,400 Active 21 DOM
3. 2026-06-15
   days on market $21,400 Active 19 DOM
4. 2026-06-13
   days on market $21,400 Active 17 DOM
5. 2026-06-13
   days on market $21,400 Active 16 DOM
6. 2026-06-09
   days on market $21,400 Active 13 DOM

   Show marketing remark (235 chars)

   Investor special! Being sold as is! Complete rehab needed, but look at the size and low taxes. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

7. 2026-06-08
   pricedays on market $21,400 Active 12 DOM
8. 2026-06-07
   days on market $22,400 Active 11 DOM
9. 2026-06-04
   days on market $22,400 Active 8 DOM
10. 2026-06-03
    days on market $22,400 Active 7 DOM
11. 2026-06-02
    days on market $22,400 Active 6 DOM
12. 2026-06-01
    days on market $22,400 Active 5 DOM
13. 2026-05-31
    days on market $22,400 Active 4 DOM
14. 2026-04-22
    price $23,900 235-char remark
15. 2026-04-22
    price $23,900 235-char remark
16. 2026-03-21
    price $24,900 235-char remark
17. 2026-03-21
    price $24,900 235-char remark
18. 2026-02-22
    price $25,500 235-char remark
19. 2026-02-21
    price $25,500 235-char remark
20. 2025-12-27
    price $26,500 235-char remark
21. 2025-12-26
    price $26,500 235-char remark
22. 2025-12-20
    listed $26,900 Active 235-char remark
23. 2025-12-20
    listed $26,900 Active 235-char remark
24. 2025-11-14
    historical
25. 2025-11-14
    historical
26. 2025-10-11
    price $27,900
27. 2025-10-10
    price $27,900
28. 2025-05-28
    listed $29,900 Active
29. 2025-05-28
    listed $29,900 Active
30. 2024-09-10
    historical
31. 2024-09-10
    historical
32. 2024-07-18
    price $32,900
33. 2024-07-17
    price $32,900
34. 2024-07-10
    listed $33,900 Active
35. 2024-07-10
    listed $33,900 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 ≥97°F today · 14 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: $14,799
• − Mortgage interest: −$1,199
• − Property taxes: −$321
• − Insurance: −$107
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$623
• Taxable income: $10,182
• Est. tax owed @ 24.0%: −$2,444
• After-tax cash flow: $7,473/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-36.9% since first listed

30 events — show timeline

• 2026-06-09 Price Changed $21,400 MiRealSource-MiMLS
• 2026-06-08 Price Changed $21,400 REALCOMP
• 2026-05-28 Price Changed $22,400 MiRealSource-MiMLS
• 2026-05-27 Price Changed $22,400 REALCOMP
• 2026-05-27 Listed $23,900 REALCOMP
• 2026-05-26 Listing Removed — MiRealSource-MiMLS
• 2026-05-26 Listing Removed — REALCOMP
• 2026-05-26 Listed $23,900 MiRealSource-MiMLS
• 2026-04-22 Price Changed $23,900 MiRealSource-MiMLS
• 2026-04-22 Price Changed $23,900 REALCOMP
• 2026-03-21 Price Changed $24,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $24,900 REALCOMP
• 2026-02-22 Price Changed $25,500 MiRealSource-MiMLS
• 2026-02-21 Price Changed $25,500 REALCOMP
• 2025-12-27 Price Changed $26,500 MiRealSource-MiMLS
• 2025-12-26 Price Changed $26,500 REALCOMP
• 2025-12-20 Listed $26,900 REALCOMP
• 2025-12-20 Listed $26,900 MiRealSource-MiMLS
• 2025-11-14 Listing Removed — MiRealSource-MiMLS
• 2025-11-14 Listing Removed — REALCOMP
• 2025-10-11 Price Changed $27,900 MiRealSource-MiMLS
• 2025-10-10 Price Changed $27,900 REALCOMP
• 2025-05-28 Listed $29,900 MiRealSource-MiMLS
• 2025-05-28 Listed $29,900 REALCOMP
• 2024-09-10 Listing Removed — MiRealSource-MiMLS
• 2024-09-10 Listing Removed — REALCOMP
• 2024-07-18 Price Changed $32,900 MiRealSource-MiMLS
• 2024-07-17 Price Changed $32,900 REALCOMP
• 2024-07-10 Listed $33,900 MiRealSource-MiMLS
• 2024-07-10 Listed $33,900 REALCOMP

Property tax history

+9.7%/yr

Latest (2025): $2,110 · +73.5% YoY. Source: county tax records.