11581 Rossiter St · Detroit, MI 48224

$28,000

5 bd · 1.5 ba · 1,603 sqft · SingleFamily public records · 49 Days on market

Built 1905 5,227 sqft lot $17/sqft · 77% below area

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

2 story house Canvas is located in a prime area. Looking to relocate or add this to your portfolio. Spacious and historic. Close to I 94 and shopping areas. B. A. T. V. A. I. BUYER PAYS ALL CLOSING COST!! Buyer shall pay 495 transaction fee to listing broker at closing. Attention this home has a Land Bank agreement already in place.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1905

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Ground-level entry with steps
• Construction: Vinyl and wood siding; Block foundation; Home warranty included
• Exterior features: Paved road access; Lot roughly 40 x 130 (0.12 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas heating; No central air
• Interior features: Unfinished basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $28k).
• Recommended offer: $27k (3.0% below list) — sets the bar for market timing.
• Cap rate 54.0% 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 flat; 492 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 44% 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 $194 of loan paydown is wiped out by about $840 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 + 0.7% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 13y 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 $2k; list at $28k implies a 1650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,160 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1905 — 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. 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: 5.90% ✓
• Cap rate: 53.96%
• Cash-on-cash: 170.25%
• DSCR: 8.58
• GRM: 1.4

CMA / ARV

• ARV (median comp): $123,650
• List price: $28,000
• Delta: -77.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11339 Roxbury St	0.13mi	5/2.0	1,692 (+6%)	14mo	$150,000	$89	71
12281 Riad St	0.37mi	4/2.5 (-1)	1,633 (+2%)	16mo	$155,000	$95	57
10724 Peerless St	0.61mi	4/1.5 (-1)	1,644 (+3%)	8mo	$118,000	$72	56
11235 Wayburn St	0.36mi	4/2.0 (-1)	1,670 (+4%)	17mo	$39,000	$23	55
9650 Everts St	0.71mi	5/2.0	1,604 (+0%)	21mo	$135,000	$84	47
19415 Moross Rd	0.56mi	4/2.0 (-1)	1,462 (-9%)	7mo	$148,500	$102	46
10088 Britain St	0.66mi	4/1.0 (-1)	1,496 (-7%)	7mo	$125,000	$84	45
9969 Bishop St	0.61mi	4/1.5 (-1)	1,452 (-9%)	8mo	$180,000	$124	44
19701 Kingsville St	0.72mi	4/1.5 (-1)	1,793 (+12%)	10mo	$91,000	$51	33

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: —
• Equity multiple: 8.99×
• Total profit: $62,638
• Equity at exit: $4,175

10-year hold

• IRR: —
• Equity multiple: 17.76×
• Total profit: $131,392
• Equity at exit: $2,421

Cash invested: $7,840 (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: 492
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,653 high
• Mortgage (P&I): −$147
• Tax est. 1.5%: −$35 /mo · $420/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $1,112

Break-even live

Break-even rent $245

Max offer price $28,000

Occupancy floor 28%

Sensitivity live

Price	-10% $1,132	-5% $1,122	+0% $1,112	+5% $1,103	+10% $1,093
Rent	-10% $982	-5% $1,047	+0% $1,112	+5% $1,178	+10% $1,243
Rate	-1.0pp $1,126	-0.5pp $1,119	base $1,112	+0.5pp $1,105	+1.0pp $1,098

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: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	45d	1	0.11mi
10030 Bishop St Detroit, MI	5.0	2.0	1721	$1,200	$0.70	19d	1	0.57mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	0.77mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	45d	1	0.78mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	0d	1	0.80mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.99mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	45d	1	1.38mi

Listing history 50 events

1. 2026-06-21
   days on market $28,000 Active 49 DOM
2. 2026-06-18
   days on market $28,000 Active 46 DOM
3. 2026-06-17
   days on market $28,000 Active 45 DOM
4. 2026-06-15
   days on market $28,000 Active 43 DOM
5. 2026-06-13
   days on market $28,000 Active 41 DOM
6. 2026-06-13
   days on market $28,000 Active 40 DOM
7. 2026-06-09
   days on market $28,000 Active 37 DOM
8. 2026-06-08
   days on market $28,000 Active 36 DOM
9. 2026-06-07
   days on market $28,000 Active 35 DOM
10. 2026-06-04
    days on market $28,000 Active 32 DOM
11. 2026-06-03
    days on market $28,000 Active 31 DOM
12. 2026-06-02
    days on market $28,000 Active 30 DOM
13. 2026-06-01
    days on market $28,000 Active 29 DOM
14. 2026-05-31
    days on market $28,000 Active 28 DOM
15. 2026-05-04
    listed $28,000 Active 335-char remark
16. 2026-05-03
    listed $28,000 Active 334-char remark

    Show marketing remark (334 chars)

    2 story house Canvas is located in a prime area. Looking to relocate or add this to your portfolio. Spacious and historic. Close to I 94 and shopping areas. B. A. T. V. A. I. BUYER PAYS ALL CLOSING COST!! Buyer shall pay 495 transaction fee to listing broker at closing. Attention this home has a Land Bank agreement already in place.

17. 2026-05-02
    historical
18. 2026-05-02
    historical
19. 2026-04-29
    price $25,000
20. 2026-04-28
    price $25,000
21. 2026-04-08
    price $42,000
22. 2026-04-07
    price $42,000
23. 2026-03-01
    listed $45,000 Active
24. 2026-03-01
    listed $45,000 Active
25. 2026-02-21
    historical
26. 2026-02-04
    status Active
27. 2026-02-04
    status Active
28. 2025-12-04
    historical
29. 2025-12-04
    status Pending
30. 2025-12-04
    status Pending
31. 2025-11-20
    listed $45,000 Active
32. 2025-11-20
    listed $45,000 Active
33. 2025-10-22
    historical
34. 2025-09-05
    status Active
35. 2025-09-05
    status Active
36. 2025-08-21
    status Pending
37. 2025-08-21
    status Pending
38. 2025-08-21
    historical
39. 2025-07-11
    price $40,000
40. 2025-07-11
    price $40,000
41. 2025-07-08
    status Active
42. 2025-07-08
    status Active
43. 2025-06-02
    status Pending
44. 2025-06-02
    status Pending
45. 2025-05-30
    price $48,500
46. 2025-05-29
    price $48,500
47. 2025-05-20
    price $52,000
48. 2025-05-19
    price $52,000
49. 2025-04-21
    listed $60,000 Active
50. 2025-04-21
    listed $60,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $19,835
• − Mortgage interest: −$1,568
• − Property taxes: −$420
• − Insurance: −$140
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$815
• Taxable income: $13,718
• Est. tax owed @ 24.0%: −$3,292
• After-tax cash flow: $10,055/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

+1650.0% since first listed

46 events — show timeline

• 2026-05-04 Listed $28,000 REALCOMP
• 2026-05-03 Listed $28,000 MiRealSource-MiMLS
• 2026-05-02 Listing Removed — REALCOMP
• 2026-05-02 Listing Removed — MiRealSource-MiMLS
• 2026-04-29 Price Changed $25,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $25,000 REALCOMP
• 2026-04-08 Price Changed $42,000 MiRealSource-MiMLS
• 2026-04-07 Price Changed $42,000 REALCOMP
• 2026-03-01 Listed $45,000 REALCOMP
• 2026-03-01 Listed $45,000 MiRealSource-MiMLS
• 2026-02-21 Listing Removed — MiRealSource-MiMLS
• 2026-02-04 Relisted — MiRealSource-MiMLS
• 2026-02-04 Relisted — REALCOMP
• 2025-12-04 Listing Removed — REALCOMP
• 2025-12-04 Pending — MiRealSource-MiMLS
• 2025-12-04 Pending — REALCOMP
• 2025-11-20 Listed $45,000 REALCOMP
• 2025-11-20 Listed $45,000 MiRealSource-MiMLS
• 2025-10-22 Listing Removed — MiRealSource-MiMLS
• 2025-09-05 Relisted — REALCOMP
• 2025-09-05 Relisted — MiRealSource-MiMLS
• 2025-08-21 Pending — MiRealSource-MiMLS
• 2025-08-21 Pending — REALCOMP
• 2025-08-21 Listing Removed — REALCOMP
• 2025-07-11 Price Changed $40,000 MiRealSource-MiMLS
• 2025-07-11 Price Changed $40,000 REALCOMP
• 2025-07-08 Relisted — MiRealSource-MiMLS
• 2025-07-08 Relisted — REALCOMP
• 2025-06-02 Pending — MiRealSource-MiMLS
• 2025-06-02 Pending — REALCOMP
• 2025-05-30 Price Changed $48,500 MiRealSource-MiMLS
• 2025-05-29 Price Changed $48,500 REALCOMP
• 2025-05-20 Price Changed $52,000 MiRealSource-MiMLS
• 2025-05-19 Price Changed $52,000 REALCOMP
• 2025-04-21 Listed $60,000 REALCOMP
• 2025-04-21 Listed $60,000 MiRealSource-MiMLS
• 2014-03-28 Listing Removed — REALCOMP
• 2014-03-28 Listing Removed — MiRealSource-MiMLS
• 2013-12-27 Listed $1,600 REALCOMP
• 2013-12-27 Listed $1,600 MiRealSource-MiMLS
• 2013-11-08 Sold (MLS) $1,600 REALCOMP
• 2013-11-08 Sold (MLS) $1,600 MiRealSource-MiMLS
• 2013-10-29 Listing Removed — REALCOMP
• 2013-10-29 Listing Removed — MiRealSource-MiMLS
• 2013-10-27 Listed $1,600 REALCOMP
• 2013-10-27 Listed $1,600 MiRealSource-MiMLS

Property tax history

+18.8%/yr

Latest (2025): $6,719 · +3524.0% YoY. Source: county tax records.