11032 Peerless St · Detroit, MI 48224

$128,900

3 bd · 1.0 ba · 818 sqft · SingleFamily public records · 47 Days on market

Built 1944 5,227 sqft lot

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Absolutely move in condition for a well-priced 3 bed 1.5 bath brick home with a 4th bedroom in basement and a 2 car garage with fenced in yard Everything has been redone in this home. Newer tear off roof, vinyl windows, Glass block basement windows, refinished hardwood floors, All new kitchen with appliances included, New updated bathroom. Completely repainted throughout. Don't wait this wont last long.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1944

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Above-grade finished area approximately 1,250 square feet
• Exterior features: Paved road access; Lot dimensions approximately 43 x 125.72 (0.12 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air 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 $129k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $125k (3.0% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 36% of the median local income ($45k/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 $891 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 13 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 $22k; list at $129k implies a 486% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,033 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.05% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $62,986
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11035 Worden St	0.13mi	3/1.0	834 (+2%)	3mo	$55,000	$66	88
20300 Mccormick St	0.15mi	3/1.0	940 (+15%)	1mo	$60,000	$64	68
11490 Somerset Ave	0.27mi	3/1.0	915 (+12%)	4mo	$70,000	$77	64
12075 Rossiter St	0.57mi	3/1.0	851 (+4%)	4mo	$45,000	$53	64
19239 Beaconsfield St	0.45mi	3/1.0	900 (+10%)	5mo	$100,000	$111	59
19381 Kenosha St	0.56mi	2/1.0 (-1)	892 (+9%)	2mo	$104,000	$117	52
6156 Lodewyck St	0.73mi	3/1.0	900 (+10%)	1mo	$51,000	$57	48
12141 Wayburn St	0.64mi	3/1.0	908 (+11%)	5mo	$11,000	$12	48
6183 Woodhall St	0.70mi	3/1.0	720 (-12%)	1mo	$32,000	$44	46
19379 Mccormick St	0.49mi	2/1.0 (-1)	696 (-15%)	4mo	$118,900	$171	43
19341 Woodside St	0.70mi	3/1.0	935 (+14%)	4mo	$90,000	$96	40
19404 Roscommon St	0.60mi	2/1.0 (-1)	700 (-14%)	4mo	$85,000	$121	39

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-11,599
• Equity at exit: $19,219

10-year hold

• IRR: -2.8%
• Equity multiple: 0.83×
• Total profit: $-6,085
• Equity at exit: $11,145

Cash invested: $36,092 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$676
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $193

Break-even live

Break-even rent $1,113

Max offer price $128,900

Occupancy floor 81%

Sensitivity live

Price	-10% $266	-5% $230	+0% $193	+5% $157	+10% $120
Rent	-10% $86	-5% $140	+0% $193	+5% $247	+10% $300
Rate	-1.0pp $258	-0.5pp $226	base $193	+0.5pp $160	+1.0pp $126

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: $32,225
• Closing costs: $3,867
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.04mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.18mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	0.24mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	0.28mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	0.35mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.39mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.46mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.47mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.50mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.51mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	0.54mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	0.54mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.55mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.55mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	25d	1	0.57mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.58mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.58mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	0.59mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.61mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.64mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.64mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.64mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	0.64mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.64mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.67mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.68mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.70mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.72mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	25d	1	0.77mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.79mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	0.83mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	25d	1	0.88mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.90mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	17d	1	0.90mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.91mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.92mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	1.07mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	1.13mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	17d	1	1.20mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	18d	1	1.23mi

Listing history 42 events

1. 2026-06-04
   status $128,900 Pending 47 DOM
2. 2026-06-03
   days on market $128,900 Active Under Contract 47 DOM
3. 2026-06-02
   days on market $128,900 Active Under Contract 46 DOM
4. 2026-06-01
   days on market $128,900 Active Under Contract 45 DOM
5. 2026-05-31
   days on market $128,900 Active Under Contract 44 DOM
6. 2026-04-23
   historical Accepting Backup Offers 406-char remark

   Show marketing remark (406 chars)

   Absolutely move in condition for a well-priced 3 bed 1.5 bath brick home with a 4th bedroom in basement and a 2 car garage with fenced in yard Everything has been redone in this home. Newer tear off roof, vinyl windows, Glass block basement windows, refinished hardwood floors, All new kitchen with appliances included, New updated bathroom. Completely repainted throughout. Don't wait this wont last long.

7. 2026-04-23
   historical Active Under Contract

   Show marketing remark (406 chars)

   Absolutely move in condition for a well-priced 3 bed 1.5 bath brick home with a 4th bedroom in basement and a 2 car garage with fenced in yard Everything has been redone in this home. Newer tear off roof, vinyl windows, Glass block basement windows, refinished hardwood floors, All new kitchen with appliances included, New updated bathroom. Completely repainted throughout. Don't wait this wont last long.

8. 2026-04-17
   listed $128,900 Active 406-char remark

   Show marketing remark (406 chars)

   Absolutely move in condition for a well-priced 3 bed 1.5 bath brick home with a 4th bedroom in basement and a 2 car garage with fenced in yard Everything has been redone in this home. Newer tear off roof, vinyl windows, Glass block basement windows, refinished hardwood floors, All new kitchen with appliances included, New updated bathroom. Completely repainted throughout. Don't wait this wont last long.

9. 2026-04-17
   listed $128,900 Active

   Show marketing remark (406 chars)

   Absolutely move in condition for a well-priced 3 bed 1.5 bath brick home with a 4th bedroom in basement and a 2 car garage with fenced in yard Everything has been redone in this home. Newer tear off roof, vinyl windows, Glass block basement windows, refinished hardwood floors, All new kitchen with appliances included, New updated bathroom. Completely repainted throughout. Don't wait this wont last long.

10. 2025-03-28
    soldstatus $22,000 Closed
11. 2025-03-28
    soldstatus $22,000 Closed
12. 2025-02-25
    status Pending
13. 2025-02-25
    status Pending
14. 2025-02-20
    listed $30,000 Active
15. 2025-02-20
    listed $30,000 Active
16. 2021-04-08
    soldstatus $69,000
17. 2020-12-29
    soldstatus $44,000 Sold
18. 2020-12-29
    soldstatus $44,000 Closed
19. 2020-12-23
    status Pending
20. 2020-12-21
    historical
21. 2020-11-30
    historical Accepting Backup Offers
22. 2020-11-06
    listed $48,990 Active
23. 2020-11-06
    listed $48,990
24. 2019-02-06
    soldstatus $32,000 Sold
25. 2019-02-06
    soldstatus $32,000 Closed
26. 2019-01-23
    status Pending
27. 2019-01-23
    status Pending
28. 2018-11-20
    listed $35,000 Active
29. 2018-11-20
    listed $35,000 Active
30. 2018-01-04
    historical
31. 2018-01-04
    historical
32. 2017-08-12
    price $40,000
33. 2017-08-11
    price $40,000
34. 2017-07-14
    listed $44,900 Active
35. 2017-07-14
    listed $44,900 Active
36. 2016-12-12
    historical
37. 2016-12-12
    historical
38. 2016-12-08
    listed $14,900
39. 2016-12-08
    listed $14,900
40. 2014-10-01
    soldstatus $9,000
41. 2014-09-29
    historical
42. 2014-04-23
    listed $28,900

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $1,889 · $157/mo
• Expected delta: +$96/yr (+$8/mo · 5.4%)

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,288
• − Mortgage interest: −$7,220
• − Property taxes: −$1,792
• − Insurance: −$644
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,750
• Taxable income: $274
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $2,253/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+346.0% since first listed

37 events — show timeline

• 2026-04-23 Contingent — MiRealSource-MiMLS
• 2026-04-23 Contingent — REALCOMP
• 2026-04-17 Listed $128,900 REALCOMP
• 2026-04-17 Listed $128,900 MiRealSource-MiMLS
• 2025-03-28 Sold (MLS) $22,000 REALCOMP
• 2025-03-28 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2025-02-25 Pending — MiRealSource-MiMLS
• 2025-02-25 Pending — REALCOMP
• 2025-02-20 Listed $30,000 REALCOMP
• 2025-02-20 Listed $30,000 MiRealSource-MiMLS
• 2021-04-08 Sold (Public Records) $69,000 Public Records
• 2020-12-29 Sold (MLS) $44,000 MiRealSource-MiMLS
• 2020-12-29 Sold (MLS) $44,000 REALCOMP
• 2020-12-23 Pending — REALCOMP
• 2020-12-21 Listing Removed — MiRealSource-MiMLS
• 2020-11-30 Contingent — REALCOMP
• 2020-11-06 Listed $48,990 MiRealSource-MiMLS
• 2020-11-06 Listed $48,990 REALCOMP
• 2019-02-06 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2019-02-06 Sold (MLS) $32,000 REALCOMP
• 2019-01-23 Pending — MiRealSource-MiMLS
• 2019-01-23 Pending — REALCOMP
• 2018-11-20 Listed $35,000 MiRealSource-MiMLS
• 2018-11-20 Listed $35,000 REALCOMP
• 2018-01-04 Listing Removed — MiRealSource-MiMLS
• 2018-01-04 Listing Removed — REALCOMP
• 2017-08-12 Price Changed $40,000 MiRealSource-MiMLS
• 2017-08-11 Price Changed $40,000 REALCOMP
• 2017-07-14 Listed $44,900 MiRealSource-MiMLS
• 2017-07-14 Listed $44,900 REALCOMP
• 2016-12-12 Listing Removed — MiRealSource-MiMLS
• 2016-12-12 Listing Removed — REALCOMP
• 2016-12-08 Listed $14,900 MiRealSource-MiMLS
• 2016-12-08 Listed $14,900 REALCOMP
• 2014-10-01 Sold (MLS) $9,000 MiRealSource-MiMLS
• 2014-09-29 Listing Removed — MiRealSource-MiMLS
• 2014-04-23 Listed $28,900 MiRealSource-MiMLS

Property tax history

-0.4%/yr

Latest (2025): $1,792 · -54.2% YoY. Source: county tax records.