11387 Asbury Park · Detroit, MI 48227

$49,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 116 Days on market

Built 1941 4,356 sqft lot $52/sqft · 21% below area Est $63k · 21% under ↓ 23% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Cash flowing turnkey investment opportunity in Detroit's west side. This tenant occupied 2 bedroom, 1 bath single family home is currently rented at $850 per month on a month to month lease, offering immediate income with flexibility for future rent adjustments or occupancy plans

Key facts

• 4,356 sq ft lot
• Built 1941
• Listed 115 days

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$62,821) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 10.0% 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 (+5.6%/yr); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 42% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.54% ✓
• Cap rate: 21.35%
• Cash-on-cash: 53.76%
• DSCR: 3.39
• GRM: 3.3

CMA / ARV

• ARV (median comp): $62,821
• List price: $49,900
• Delta: -20.57%
• 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
9580 Mansfield St	0.40mi	2/1.0	890 (-7%)	0mo	$23,000	$26	69
12057 Forrer St	0.42mi	3/1.0 (+1)	1,000 (+4%)	1mo	$45,000	$45	68
12124 Asbury Park	0.35mi	3/1.5 (+1)	919 (-4%)	2mo	$130,000	$141	68
11375 Grandmont Ave	0.12mi	3/1.0 (+1)	1,083 (+13%)	0mo	$104,000	$96	68
9909 Asbury Park	0.24mi	3/1.0 (+1)	1,095 (+14%)	1mo	$95,000	$87	60
12203 Grandmont Ave	0.41mi	3/1.5 (+1)	861 (-10%)	1mo	$95,000	$110	56
12660 Grandmont Ave	0.66mi	3/1.0 (+1)	1,019 (+6%)	1mo	$85,000	$83	53
11658 Ashton Ave	0.54mi	3/1.0 (+1)	1,080 (+12%)	0mo	$89,000	$82	49
12699 Woodmont Ave	0.69mi	3/1.0 (+1)	1,054 (+10%)	1mo	$64,000	$61	46
9599 Whitcomb St	0.69mi	3/1.0 (+1)	1,060 (+10%)	1mo	$55,000	$52	45
9930 Whitcomb St	0.67mi	3/1.0 (+1)	1,078 (+12%)	2mo	$35,000	$32	42
12690 Asbury Park	0.68mi	3/2.0 (+1)	826 (-14%)	2mo	$85,000	$103	34

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: 54.9%
• Equity multiple: 3.52×
• Total profit: $35,204
• Equity at exit: $7,440

10-year hold

• IRR: 61.0%
• Equity multiple: 7.93×
• Total profit: $96,798
• Equity at exit: $4,314

Cash invested: $13,972 (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: 391
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,267 high
• Mortgage (P&I): −$262
• Tax from tax record: −$92 /mo · $1,110/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $626

Break-even live

Break-even rent $475

Max offer price $49,900

Occupancy floor 46%

Sensitivity live

Price	-10% $654	-5% $640	+0% $626	+5% $612	+10% $598
Rent	-10% $526	-5% $576	+0% $626	+5% $676	+10% $726
Rate	-1.0pp $651	-0.5pp $639	base $626	+0.5pp $613	+1.0pp $600

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	18d	1	0.42mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	45d	1	0.44mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	14d	1	0.47mi
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	23d	1	0.51mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	25d	1	0.52mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	18d	1	0.53mi
9601 Greenfield Rd Detroit, MI	1.0	1.0	500	$725	$1.45	45d	1	0.56mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	18d	1	0.59mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	18d	1	0.65mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	45d	1	0.67mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	25d	1	0.68mi
12611 Memorial St Unit 629104 Detroit, MI	1.0	1.0	700	$995	$1.42	45d	1	0.70mi
12611 Memorial St Unit 629203 Detroit, MI	1.0	1.0	635	$995	$1.57	25d	1	0.70mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	18d	1	0.74mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	0.74mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	45d	1	0.75mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	19d	1	0.76mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	6d	1	0.79mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	0.83mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	0d	15	0.83mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	3d	1	0.86mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	25d	1	0.91mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	45d	1	0.97mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	45d	1	0.99mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	19d	1	1.04mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	6d	1	1.10mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	45d	1	1.14mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	6d	1	1.15mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	6d	1	1.15mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	45d	1	1.15mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.15mi
18401 Joy Rd Unit 8 Detroit, MI	1.0	1.0	600	$875	$1.46	45d	1	1.16mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	1.20mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	45d	1	1.26mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	1.26mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.28mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.33mi
8262 Rosemont Ave Detroit, MI	3.0	1.0	836	$1,200	$1.44	6d	1	1.35mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	45d	1	1.36mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	45d	1	1.42mi

Listing history 26 events

1. 2026-06-21
   days on market $49,900 Active 116 DOM
2. 2026-06-18
   days on market $49,900 Active 113 DOM
3. 2026-06-17
   days on market $49,900 Active 112 DOM
4. 2026-06-15
   days on market $49,900 Active 110 DOM
5. 2026-06-13
   days on market $49,900 Active 108 DOM
6. 2026-06-13
   days on market $49,900 Active 107 DOM
7. 2026-06-09
   days on market $49,900 Active 104 DOM
8. 2026-06-08
   days on market $49,900 Active 103 DOM
9. 2026-06-07
   days on market $49,900 Active 102 DOM
10. 2026-06-04
    days on market $49,900 Active 99 DOM
11. 2026-06-03
    days on market $49,900 Active 98 DOM
12. 2026-06-01
    days on market $49,900 Active 96 DOM
13. 2026-05-31
    days on market $49,900 Active 95 DOM
14. 2026-04-07
    price $49,900 280-char remark

    Show marketing remark (286 chars)

    Cash flowing turnkey investment opportunity in Detroit’s west side. This tenant occupied 2 bedroom, 1 bath single family home is currently rented at $850 per month on a month to month lease, offering immediate income with flexibility for future rent adjustments or occupancy plans

15. 2026-04-07
    price $49,900 286-char remark

    Show marketing remark (286 chars)

    Cash flowing turnkey investment opportunity in Detroit’s west side. This tenant occupied 2 bedroom, 1 bath single family home is currently rented at $850 per month on a month to month lease, offering immediate income with flexibility for future rent adjustments or occupancy plans

16. 2026-02-25
    listed $54,900 Active 286-char remark

    Show marketing remark (280 chars)

    Cash flowing turnkey investment opportunity in Detroit's west side. This tenant occupied 2 bedroom, 1 bath single family home is currently rented at $850 per month on a month to month lease, offering immediate income with flexibility for future rent adjustments or occupancy plans

17. 2026-02-25
    listed $54,900 Active 280-char remark

    Show marketing remark (280 chars)

    Cash flowing turnkey investment opportunity in Detroit's west side. This tenant occupied 2 bedroom, 1 bath single family home is currently rented at $850 per month on a month to month lease, offering immediate income with flexibility for future rent adjustments or occupancy plans

18. 2026-02-11
    historical
19. 2026-02-11
    historical
20. 2025-12-27
    price $67,000
21. 2025-12-26
    price $67,000
22. 2025-10-02
    price $68,000
23. 2025-10-01
    price $68,000
24. 2025-08-04
    listed $70,000 Active
25. 2025-08-04
    listed $70,000 Active
26. 2020-08-27
    soldstatus $64,900

ⓘ 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: $1,110 · $92/mo
• Projected year-2 tax: $1,110 · $92/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 · 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: $15,203
• − Mortgage interest: −$2,795
• − Property taxes: −$1,110
• − Insurance: −$250
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$1,452
• Taxable income: $7,165
• Est. tax owed @ 24.0%: −$1,720
• After-tax cash flow: $5,792/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

-23.1% since first listed

13 events — show timeline

• 2026-04-07 Price Changed $49,900 MiRealSource-MiMLS
• 2026-04-07 Price Changed $49,900 REALCOMP
• 2026-02-25 Listed $54,900 REALCOMP
• 2026-02-25 Listed $54,900 MiRealSource-MiMLS
• 2026-02-11 Listing Removed — REALCOMP
• 2026-02-11 Listing Removed — MiRealSource-MiMLS
• 2025-12-27 Price Changed $67,000 MiRealSource-MiMLS
• 2025-12-26 Price Changed $67,000 REALCOMP
• 2025-10-02 Price Changed $68,000 MiRealSource-MiMLS
• 2025-10-01 Price Changed $68,000 REALCOMP
• 2025-08-04 Listed $70,000 REALCOMP
• 2025-08-04 Listed $70,000 MiRealSource-MiMLS
• 2020-08-27 Sold (Public Records) $64,900 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,110 · -8.6% YoY. Source: county tax records.