13202 Stoepel St · Detroit, MI 48238

$75,000

4 bd · 2.0 ba · 2,096 sqft · Townhouse public records · 164 Days on market

Built 1926 3,920 sqft lot $36/sqft · 8% above area Est $69k · 8% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• ARV discount +3.8/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

Key facts

• Plumbing updated
• New drywall
• Hvac updated

Tags

• TWO FAMILY FLAT
• PARTIALLY REHABBED
• PLUMBING UPDATED
• ELECTRIC UPDATED
• HVAC UPDATED
• NEW DRYWALL

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,575/mo this rent would consume 57% of the median local household income ($33k/yr) (locally 2172% 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 12y ago; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $25k; list at $75k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.10% ✓
• Cap rate: 16.54%
• Cash-on-cash: 36.61%
• DSCR: 2.63
• GRM: 4.0

CMA / ARV

• ARV (median comp): $69,371
• List price: $75,000
• Delta: 8.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 36.2%
• Equity multiple: 2.61×
• Total profit: $33,853
• Equity at exit: $11,183

10-year hold

• IRR: 44.6%
• Equity multiple: 5.99×
• Total profit: $104,782
• Equity at exit: $6,485

Cash invested: $21,000 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$393
• Tax from tax record: −$179 /mo · $2,145/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $641

Break-even live

Break-even rent $764

Max offer price $75,000

Occupancy floor 54%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	0.10mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	4d	1	0.25mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	0.36mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	23d	1	0.49mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	43d	1	0.73mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	43d	1	0.77mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	43d	1	0.89mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	16d	1	0.94mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	0.96mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.97mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.97mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	43d	1	1.01mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	1.14mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	24d	1	1.16mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	1.18mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	14d	1	1.20mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.34mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	1.38mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	1.48mi

Listing history 47 events

1. 2026-06-18
   days on market $75,000 Active 164 DOM
2. 2026-06-17
   days on market $75,000 Active 163 DOM
3. 2026-06-15
   days on market $75,000 Active 161 DOM
4. 2026-06-13
   days on market $75,000 Active 159 DOM
5. 2026-06-13
   days on market $75,000 Active 158 DOM
6. 2026-06-09
   days on market $75,000 Active 155 DOM
7. 2026-06-08
   days on market $75,000 Active 154 DOM
8. 2026-06-07
   days on market $75,000 Active 153 DOM
9. 2026-06-04
   days on market $75,000 Active 150 DOM
10. 2026-06-03
    days on market $75,000 Active 149 DOM
11. 2026-06-01
    days on market $75,000 Active 147 DOM
12. 2026-05-31
    days on market $75,000 Active 146 DOM
13. 2026-04-06
    price $75,000 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

14. 2026-04-06
    status Active 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

15. 2026-04-06
    status Active 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

16. 2026-04-06
    price $75,000 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

17. 2026-03-03
    historical 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

18. 2025-12-03
    listed $59,900 Active 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

19. 2025-12-03
    listed $59,900 Active 640-char remark

    Show marketing remark (640 chars)

    Oakman Neighborhood two family flat partially rehabbed available for new investor to add finishing touches. Each floor has two bedrooms and one bathroom. All plumbing, electric and HVAC has been updated throughout. New drywall and flooring in all rooms. Small fire from trespassing cause damage to drywall in unit. All major work completed - needs final cosmetic touches. Seller ready to move onto other projects. Projected monthly rental income $1200-$1300/mo per unit once fully completed. Warranty Deed. ARV between $130k-$160k depending on finishes. Now offering land contract terms - $25,00 down; $1151/per month for 48 months. BATVAI.

20. 2025-12-01
    historical
21. 2025-08-05
    status Active
22. 2025-08-05
    status Active
23. 2025-07-15
    status Pending
24. 2025-07-15
    status Pending
25. 2025-07-15
    historical
26. 2025-05-09
    listed $65,000 Active
27. 2025-05-09
    listed $65,000 Active
28. 2025-05-08
    historical
29. 2025-05-08
    historical
30. 2025-05-08
    historical
31. 2025-02-18
    price $65,000
32. 2025-02-18
    price $65,000
33. 2024-12-09
    price $70,000
34. 2024-12-09
    price $70,000
35. 2024-10-13
    listed $85,000 Active
36. 2024-10-13
    listed $85,000 Active
37. 2021-10-15
    soldstatus $25,000 Sold
38. 2021-10-15
    soldstatus $25,000 Closed
39. 2021-10-08
    status Pending
40. 2021-10-08
    status Pending
41. 2021-09-25
    listed $25,000 Active
42. 2021-09-25
    listed $25,000 Active
43. 2014-11-11
    historical
44. 2014-10-31
    soldstatus $3,500 Sold
45. 2014-10-31
    soldstatus $3,500
46. 2014-06-18
    listed $3,200 Active
47. 2014-06-18
    listed $3,200

ⓘ 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: $2,145 · $179/mo
• Projected year-2 tax: $2,145 · $179/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,895
• − Mortgage interest: −$4,201
• − Property taxes: −$2,145
• − Insurance: −$375
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$2,182
• Taxable income: $6,969
• Est. tax owed @ 24.0%: −$1,672
• After-tax cash flow: $6,015/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

+2243.8% since first listed

35 events — show timeline

• 2026-04-06 Price Changed $75,000 MiRealSource-MiMLS
• 2026-04-06 Relisted — MiRealSource-MiMLS
• 2026-04-06 Relisted — REALCOMP
• 2026-04-06 Price Changed $75,000 REALCOMP
• 2026-03-03 Listing Removed — MiRealSource-MiMLS
• 2025-12-03 Listed $59,900 REALCOMP
• 2025-12-03 Listed $59,900 MiRealSource-MiMLS
• 2025-12-01 Listing Removed — MiRealSource-MiMLS
• 2025-08-05 Relisted — MiRealSource-MiMLS
• 2025-08-05 Relisted — REALCOMP
• 2025-07-15 Pending — MiRealSource-MiMLS
• 2025-07-15 Pending — REALCOMP
• 2025-07-15 Listing Removed — REALCOMP
• 2025-05-09 Listed $65,000 MiRealSource-MiMLS
• 2025-05-09 Listed $65,000 REALCOMP
• 2025-05-08 Coming Soon — MiRealSource-MiMLS
• 2025-05-08 Listing Removed — MiRealSource-MiMLS
• 2025-05-08 Listing Removed — REALCOMP
• 2025-02-18 Price Changed $65,000 MiRealSource-MiMLS
• 2025-02-18 Price Changed $65,000 REALCOMP
• 2024-12-09 Price Changed $70,000 MiRealSource-MiMLS
• 2024-12-09 Price Changed $70,000 REALCOMP
• 2024-10-13 Listed $85,000 MiRealSource-MiMLS
• 2024-10-13 Listed $85,000 REALCOMP
• 2021-10-15 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2021-10-15 Sold (MLS) $25,000 REALCOMP
• 2021-10-08 Pending — MiRealSource-MiMLS
• 2021-10-08 Pending — REALCOMP
• 2021-09-25 Listed $25,000 MiRealSource-MiMLS
• 2021-09-25 Listed $25,000 REALCOMP
• 2014-11-11 Listing Removed — REALCOMP
• 2014-10-31 Sold (MLS) $3,500 MiRealSource-MiMLS
• 2014-10-31 Sold (MLS) $3,500 REALCOMP
• 2014-06-18 Listed $3,200 MiRealSource-MiMLS
• 2014-06-18 Listed $3,200 REALCOMP

Property tax history

+2.7%/yr

Latest (2025): $2,145 · -51.4% YoY. Source: county tax records.