13215 Prest St · Detroit, MI 48227

$104,500

3 bd · 1.0 ba · 744 sqft · SingleFamily public records · 23 Days on market

Built 1952 4,356 sqft lot

---

Why this score? — see what drove the C+ 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated 3-bedroom bungalow on Detroit's West Side! This move-in ready home features new flooring, fresh paint, and updated lighting throughout. The modern kitchen offers stylish cabinetry and sleek countertops, while the updated bathroom includes contemporary fixtures and finishes. Perfect for homeowners or investors, this home offers comfort, style, and convenient access to shopping, dining, and major roads. Don't miss this turnkey opportunity!

Key facts

• Stylish cabinetry
• New flooring
• Renovated bungalow

Tags

• RENOVATED BUNGALOW
• NEW FLOORING
• UPDATED LIGHTING
• MODERN KITCHEN
• STYLISH CABINETRY
• SLEEK COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 40% 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 $722 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 $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y 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 $78k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,932 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.20%
• DSCR: 1.63
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $56,544
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13316 Freeland St	0.65mi	3/1.0	766 (+3%)	9mo	$50,000	$65	58
12656 Mettetal St	0.51mi	2/1.0 (-1)	803 (+8%)	2mo	$72,872	$91	56
11694 Forrer St	0.73mi	3/1.0	768 (+3%)	6mo	$58,000	$76	56
12217 Mansfield St	0.59mi	2/1.0 (-1)	683 (-8%)	4mo	$46,000	$67	50
12690 Asbury Park	0.56mi	3/2.0	826 (+11%)	2mo	$85,000	$103	50
13409 Hubbell St	0.47mi	3/1.0	795 (+7%)	20mo	$92,597	$116	50
16436 Fullerton St	0.64mi	2/1.0 (-1)	801 (+8%)	13mo	$38,000	$47	42
12038 Lauder St	0.70mi	3/1.0	836 (+12%)	15mo	$40,000	$48	35
11711 Prest St	0.68mi	2/1.0 (-1)	835 (+12%)	14mo	$72,000	$86	31

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: 7.1%
• Equity multiple: 1.29×
• Total profit: $8,373
• Equity at exit: $15,581

10-year hold

• IRR: 18.4%
• Equity multiple: 2.70×
• Total profit: $49,761
• Equity at exit: $9,035

Cash invested: $29,260 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$548
• Tax from tax record: −$34 /mo · $407/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $346

Break-even live

Break-even rent $792

Max offer price $104,500

Occupancy floor 67%

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: $26,125
• Closing costs: $3,135
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	13d	1	0.90mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	44d	1	1.16mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.30mi

Listing history 43 events

1. 2026-04-09
   status Pending 463-char remark

   Show marketing remark (463 chars)

   Beautifully renovated 3-bedroom bungalow on Detroit's West Side! This move-in ready home features new flooring, fresh paint, and updated lighting throughout. The modern kitchen offers stylish cabinetry and sleek countertops, while the updated bathroom includes contemporary fixtures and finishes. Perfect for homeowners or investors, this home offers comfort, style, and convenient access to shopping, dining, and major roads. Don't miss this turnkey opportunity!

2. 2026-04-09
   status Pending

   Show marketing remark (463 chars)

   Beautifully renovated 3-bedroom bungalow on Detroit's West Side! This move-in ready home features new flooring, fresh paint, and updated lighting throughout. The modern kitchen offers stylish cabinetry and sleek countertops, while the updated bathroom includes contemporary fixtures and finishes. Perfect for homeowners or investors, this home offers comfort, style, and convenient access to shopping, dining, and major roads. Don't miss this turnkey opportunity!

3. 2026-03-18
   listed $104,500 Active
4. 2026-03-17
   listed $104,500 Active 463-char remark

   Show marketing remark (463 chars)

   Beautifully renovated 3-bedroom bungalow on Detroit's West Side! This move-in ready home features new flooring, fresh paint, and updated lighting throughout. The modern kitchen offers stylish cabinetry and sleek countertops, while the updated bathroom includes contemporary fixtures and finishes. Perfect for homeowners or investors, this home offers comfort, style, and convenient access to shopping, dining, and major roads. Don't miss this turnkey opportunity!

5. 2026-02-04
   historical
6. 2026-02-04
   historical
7. 2025-11-20
   listed $105,000 Active
8. 2025-11-20
   listed $105,000 Active
9. 2025-11-18
   historical
10. 2025-11-11
    historical
11. 2025-11-11
    historical
12. 2025-11-02
    price $113,900
13. 2025-11-01
    price $113,900
14. 2025-10-27
    price $114,400
15. 2025-10-27
    price $114,400
16. 2025-09-07
    price $114,500
17. 2025-09-07
    price $114,500
18. 2025-08-28
    price $117,000
19. 2025-08-28
    price $117,000
20. 2025-08-20
    price $118,500
21. 2025-08-19
    price $118,500
22. 2025-08-08
    listed $119,000 Active
23. 2025-08-08
    listed $119,000 Active
24. 2025-08-04
    historical
25. 2025-07-25
    historical
26. 2025-07-25
    historical
27. 2025-07-22
    price $124,900
28. 2025-07-21
    price $124,900
29. 2025-06-25
    price $125,000
30. 2025-06-25
    price $125,000
31. 2025-06-08
    listed $135,000 Active
32. 2025-06-08
    listed $135,000 Active
33. 2007-11-19
    historical
34. 2007-05-23
    listed $21,900
35. 2007-04-30
    historical
36. 2007-03-30
    listed $25,000
37. 2007-03-29
    historical
38. 2006-12-12
    listed $29,900
39. 2006-12-08
    historical
40. 2006-12-08
    historical
41. 2006-08-14
    listed $43,900
42. 2006-08-14
    listed $43,900
43. 2006-01-19
    soldstatus $78,000

ⓘ 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: $407 · $34/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: +$601/yr (+$50/mo · 147.5%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $14,762
• − Mortgage interest: −$5,854
• − Property taxes: −$407
• − Insurance: −$522
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,040
• Taxable income: $2,577
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $3,538/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

+34.0% since first listed

43 events — show timeline

• 2026-04-09 Pending — MiRealSource-MiMLS
• 2026-04-09 Pending — REALCOMP
• 2026-03-18 Listed $104,500 REALCOMP
• 2026-03-17 Listed $104,500 MiRealSource-MiMLS
• 2026-02-04 Listing Removed — MiRealSource-MiMLS
• 2026-02-04 Listing Removed — REALCOMP
• 2025-11-20 Listed $105,000 MiRealSource-MiMLS
• 2025-11-20 Listed $105,000 REALCOMP
• 2025-11-18 Coming Soon — MiRealSource-MiMLS
• 2025-11-11 Listing Removed — MiRealSource-MiMLS
• 2025-11-11 Listing Removed — REALCOMP
• 2025-11-02 Price Changed $113,900 MiRealSource-MiMLS
• 2025-11-01 Price Changed $113,900 REALCOMP
• 2025-10-27 Price Changed $114,400 MiRealSource-MiMLS
• 2025-10-27 Price Changed $114,400 REALCOMP
• 2025-09-07 Price Changed $114,500 MiRealSource-MiMLS
• 2025-09-07 Price Changed $114,500 REALCOMP
• 2025-08-28 Price Changed $117,000 MiRealSource-MiMLS
• 2025-08-28 Price Changed $117,000 REALCOMP
• 2025-08-20 Price Changed $118,500 MiRealSource-MiMLS
• 2025-08-19 Price Changed $118,500 REALCOMP
• 2025-08-08 Listed $119,000 MiRealSource-MiMLS
• 2025-08-08 Listed $119,000 REALCOMP
• 2025-08-04 Coming Soon — MiRealSource-MiMLS
• 2025-07-25 Listing Removed — MiRealSource-MiMLS
• 2025-07-25 Listing Removed — REALCOMP
• 2025-07-22 Price Changed $124,900 MiRealSource-MiMLS
• 2025-07-21 Price Changed $124,900 REALCOMP
• 2025-06-25 Price Changed $125,000 MiRealSource-MiMLS
• 2025-06-25 Price Changed $125,000 REALCOMP
• 2025-06-08 Listed $135,000 REALCOMP
• 2025-06-08 Listed $135,000 MiRealSource-MiMLS
• 2007-11-19 Listing Removed — REALCOMP
• 2007-05-23 Listed $21,900 REALCOMP
• 2007-04-30 Listing Removed — REALCOMP
• 2007-03-30 Listed $25,000 REALCOMP
• 2007-03-29 Listing Removed — REALCOMP
• 2006-12-12 Listed $29,900 REALCOMP
• 2006-12-08 Listing Removed — REALCOMP
• 2006-12-08 Listing Removed — MiRealSource-MiMLS
• 2006-08-14 Listed $43,900 REALCOMP
• 2006-08-14 Listed $43,900 MiRealSource-MiMLS
• 2006-01-19 Sold (Public Records) $78,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $407 · +69.7% YoY. Source: county tax records.