12729 Grandmont Ave · Detroit, MI 48227

$99,999

3 bd · 1.0 ba · 929 sqft · SingleFamily public records · 15 Days on market

Built 1951 5,663 sqft lot $108/sqft · 33% above area Est $75k · 34% over

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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 +21.6/30.0
• 1% rule +8.4/10.0
• DSCR +6.9/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * WOW * * CHARMING 900+ SQ FT HOME IN DETROIT * * COMFORTABLE LIVING AREA * * A BRIGHT KITCHEN WITH NATURAL LIGHTING * * 3 SPACIOUS BEDROOMS AND ONE NICE SIZE BATHROOM * * SPACIOUS BACKYARD PERFECT FOR HOSTING * * CONVENIENTLY LOCATED CLOSE TO LOCAL AMENTITIES, SCHOOLS AND MAJOR HIGHWAYS * * GREAT OPPORTUNITY FOR FIRST-TIME BUYERS OR INVESTORS * * THE POTENTIAL FOR THIS HOME IS LIMITLESS * * NO IN PERSON SHOWINGS DUE TO OCCUPANTS IN THE HOME * * SELLING AS-IS * *

Key facts

• Bright kitchen
• Spacious backyard
• Conveniently located

Tags

• BRIGHT KITCHEN
• SPACIOUS BACKYARD
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 41 x 135 (0.13 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+5.6%/yr); 385 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); 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 ($37k/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 $691 of loan paydown is wiped out by about $3k 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 + 5.6% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 12y 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 $19k; list at $100k implies a 426% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,499 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 6.2

CMA / ARV

• ARV (median comp): $74,791
• List price: $99,999
• Delta: 33.71%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12660 Grandmont Ave	0.07mi	3/1.0	1,019 (+10%)	1mo	$85,000	$83	80
12124 Asbury Park	0.40mi	3/1.5	919 (-1%)	2mo	$130,000	$141	76
12699 Woodmont Ave	0.07mi	3/1.0	1,054 (+14%)	1mo	$64,000	$61	74
12203 Grandmont Ave	0.33mi	3/1.5	861 (-7%)	1mo	$95,000	$110	70
12690 Asbury Park	0.16mi	3/2.0	826 (-11%)	2mo	$85,000	$103	69
12656 Mettetal St	0.22mi	2/1.0 (-1)	803 (-14%)	2mo	$72,872	$91	60
13620 Saint Marys St	0.42mi	3/2.0	1,020 (+10%)	2mo	$72,000	$71	58
12057 Forrer St	0.61mi	3/1.0	1,000 (+8%)	1mo	$45,000	$45	58
12950 Glastonbury Ave	0.74mi	3/1.0	958 (+3%)	4mo	$40,000	$42	57
13564 Faust Ave	0.65mi	2/1.0 (-1)	951 (+2%)	5mo	$60,000	$63	56
13538 Penrod St	0.58mi	3/1.0	1,026 (+10%)	3mo	$95,000	$93	53
13556 Forrer St	0.53mi	3/1.0	1,035 (+11%)	7mo	$149,000	$144	51

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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-2,744
• Equity at exit: $14,910

10-year hold

• IRR: 10.5%
• Equity multiple: 1.94×
• Total profit: $26,265
• Equity at exit: $8,646

Cash invested: $28,000 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$524
• Tax from tax record: −$341 /mo · $4,089/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $153

Break-even live

Break-even rent $1,148

Max offer price $99,999

Occupancy floor 84%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.04mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	44d	1	0.06mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	0.45mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	0.50mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	0.59mi
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	22d	1	0.62mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	0.64mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	0.69mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.75mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	17d	1	0.77mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.82mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	0.86mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	44d	1	0.89mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	44d	1	0.94mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	13d	1	0.99mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	17d	1	0.99mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	24d	1	1.02mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	17d	1	1.02mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	1.04mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	13d	1	1.04mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	44d	1	1.07mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	17d	1	1.07mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	17d	1	1.08mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.09mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	44d	1	1.10mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	24d	1	1.10mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	1.10mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	17d	1	1.17mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	44d	1	1.24mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	1.24mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	1.28mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.28mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	1.30mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	1.31mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	1.32mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	1.34mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	44d	1	1.37mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	17d	1	1.40mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.41mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	44d	1	1.45mi

Listing history 50 events

1. 2026-06-18
   days on market $99,999 Active 15 DOM
2. 2026-06-17
   days on market $99,999 Active 14 DOM
3. 2026-06-16
   days on market $99,999 Active 13 DOM
4. 2026-06-15
   days on market $99,999 Active 12 DOM
5. 2026-06-13
   days on market $99,999 Active 10 DOM
6. 2026-06-13
   days on market $99,999 Active 9 DOM
7. 2026-06-09
   days on market $99,999 Active 6 DOM
8. 2026-06-08
   days on market $99,999 Active 5 DOM
9. 2026-06-07
   days on market $99,999 Active 4 DOM
10. 2026-06-04
    days on marketlisting id $99,999 Active 1 DOM
11. 2026-06-03
    days on market $99,999 Active 42 DOM

    Show marketing remark (482 chars)

    * * WOW * * CHARMING 900+ SQ FT HOME IN DETROIT * * COMFORTABLE LIVING AREA * * A BRIGHT KITCHEN WITH NATURAL LIGHTING * * 3 SPACIOUS BEDROOMS AND ONE NICE SIZE BATHROOM * * SPACIOUS BACKYARD PERFECT FOR HOSTING * * CONVENIENTLY LOCATED CLOSE TO LOCAL AMENTITIES, SCHOOLS AND MAJOR HIGHWAYS * * GREAT OPPORTUNITY FOR FIRST-TIME BUYERS OR INVESTORS * * THE POTENTIAL FOR THIS HOME IS LIMITLESS * * NO IN PERSON SHOWINGS DUE TO OCCUPANTS IN THE HOME * * SELLING AS-IS * *

12. 2026-06-02
    days on market $99,999 Active 41 DOM
13. 2026-06-01
    days on market $99,999 Active 40 DOM
14. 2026-05-31
    days on market $99,999 Active 39 DOM
15. 2026-04-22
    listed $99,999 Active 482-char remark
16. 2026-04-22
    listed $99,999 Active 482-char remark
17. 2026-04-22
    historical
18. 2026-04-22
    historical
19. 2025-06-04
    listed $99,999 Active
20. 2025-06-04
    listed $99,999 Active
21. 2016-12-06
    historical
22. 2016-12-06
    historical
23. 2016-10-21
    status Active
24. 2016-10-18
    historical
25. 2016-09-25
    listed $54,000 Active
26. 2016-09-25
    listed $54,000 Active
27. 2016-09-22
    status Pending
28. 2016-09-22
    status Pending
29. 2016-09-20
    soldstatus $19,000 Sold
30. 2016-09-20
    soldstatus $19,000 Closed
31. 2016-09-09
    status Active
32. 2016-09-09
    status Active
33. 2016-09-01
    status Pending
34. 2016-09-01
    status Pending
35. 2016-07-19
    listed $19,000 Active
36. 2016-07-19
    listed $19,000 Active
37. 2016-05-01
    historical
38. 2016-05-01
    historical
39. 2016-04-16
    listed $19,900 Active
40. 2016-03-24
    price $19,900
41. 2016-03-18
    status Active
42. 2016-03-14
    historical
43. 2016-02-21
    status Active
44. 2016-02-15
    historical
45. 2016-01-29
    listed $24,900 Active
46. 2014-11-06
    historical
47. 2014-11-06
    historical
48. 2014-07-10
    listed $3,500
49. 2014-07-10
    listed $3,500
50. 2003-11-20
    soldstatus $90,000

ⓘ 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: $4,089 · $341/mo
• Projected year-2 tax: $4,089 · $341/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 ≥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: $16,093
• − Mortgage interest: −$5,601
• − Property taxes: −$4,089
• − Insurance: −$500
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$2,909
• Taxable income: $419
• Est. tax owed @ 24.0%: −$101
• After-tax cash flow: $1,731/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

+11.1% since first listed

40 events — show timeline

• 2026-06-03 Listed $99,999 REALCOMP
• 2026-06-03 Listing Removed — MiRealSource-MiMLS
• 2026-06-03 Listing Removed — REALCOMP
• 2026-06-03 Listed $99,999 MiRealSource-MiMLS
• 2026-04-22 Listing Removed — MiRealSource-MiMLS
• 2026-04-22 Listing Removed — REALCOMP
• 2026-04-22 Listed $99,999 MiRealSource-MiMLS
• 2026-04-22 Listed $99,999 REALCOMP
• 2025-06-04 Listed $99,999 MiRealSource-MiMLS
• 2025-06-04 Listed $99,999 REALCOMP
• 2016-12-06 Listing Removed — REALCOMP
• 2016-12-06 Listing Removed — MiRealSource-MiMLS
• 2016-10-21 Relisted — REALCOMP
• 2016-10-18 Listing Removed — REALCOMP
• 2016-09-25 Listed $54,000 MiRealSource-MiMLS
• 2016-09-25 Listed $54,000 REALCOMP
• 2016-09-22 Pending — MiRealSource-MiMLS
• 2016-09-22 Pending — REALCOMP
• 2016-09-20 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2016-09-20 Sold (MLS) $19,000 REALCOMP
• 2016-09-09 Relisted — MiRealSource-MiMLS
• 2016-09-09 Relisted — REALCOMP
• 2016-09-01 Pending — MiRealSource-MiMLS
• 2016-09-01 Pending — REALCOMP
• 2016-07-19 Listed $19,000 MiRealSource-MiMLS
• 2016-07-19 Listed $19,000 REALCOMP
• 2016-05-01 Listing Removed — MiRealSource-MiMLS
• 2016-05-01 Listing Removed — REALCOMP
• 2016-04-16 Listed $19,900 MiRealSource-MiMLS
• 2016-03-24 Price Changed $19,900 REALCOMP
• 2016-03-18 Relisted — REALCOMP
• 2016-03-14 Listing Removed — REALCOMP
• 2016-02-21 Relisted — REALCOMP
• 2016-02-15 Listing Removed — REALCOMP
• 2016-01-29 Listed $24,900 REALCOMP
• 2014-11-06 Listing Removed — REALCOMP
• 2014-11-06 Listing Removed — MiRealSource-MiMLS
• 2014-07-10 Listed $3,500 REALCOMP
• 2014-07-10 Listed $3,500 MiRealSource-MiMLS
• 2003-11-20 Sold (Public Records) $90,000 Public Records

Property tax history

+25.9%/yr

Latest (2025): $4,089 · +0.6% YoY. Source: county tax records.