13505 Greiner St · Detroit, MI 48205

$50,000

9 bd · 3.0 ba · 3,060 sqft · Townhouse public records · 112 Days on market

Built 1946 6,534 sqft lot $16/sqft · 75% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Investment Opportunity! This bundled package includes two multi-family homes (13505 & 13449 Greiner St) and two vacant land parcels (13523 & 13515 Greiner St), offering incredible potential for investors and developers alike. The multi-family properties generate steady rental income, while the adjacent vacant lots provide space for expansion or new construction. Conveniently located in a growing area, this is a rare chance to acquire multiple properties with endless possibilities. Don't miss out on this lucrative investment - schedule your showing today! Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. Zoned: R3

Key facts

• Multi-family homes
• New construction
• Vacant land parcels

Tags

• MULTI-FAMILY HOMES
• VACANT LAND PARCELS
• STEADY RENTAL INCOME
• SPACE FOR EXPANSION
• NEW CONSTRUCTION
• GROWING AREA

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath townhouse listed at $50k.

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 $50k).
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.
• Cap rate 31.8% 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 (+1.3%/yr); 373 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,738/mo this rent would consume 54% of the median local household income ($39k/yr) (locally 2121% 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 $346 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 + 1.3% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y 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 $28k; list at $50k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 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 1946 — 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: 3.48% ✓
• Cap rate: 31.78%
• Cash-on-cash: 91.02%
• DSCR: 5.05
• GRM: 2.4

CMA / ARV

• ARV (median comp): $198,971
• List price: $50,000
• Delta: -74.87%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 89.9%
• Equity multiple: 5.05×
• Total profit: $56,662
• Equity at exit: $7,455

10-year hold

• IRR: 92.5%
• Equity multiple: 9.93×
• Total profit: $125,049
• Equity at exit: $4,323

Cash invested: $14,000 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$28 /mo · $340/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $1,062

Break-even live

Break-even rent $394

Max offer price $50,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,090	-5% $1,076	+0% $1,062	+5% $1,048	+10% $1,034
Rent	-10% $925	-5% $993	+0% $1,062	+5% $1,131	+10% $1,199
Rate	-1.0pp $1,087	-0.5pp $1,075	base $1,062	+0.5pp $1,049	+1.0pp $1,036

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $50,000 Active 112 DOM
2. 2026-06-17
   days on market $50,000 Active 111 DOM
3. 2026-06-15
   days on market $50,000 Active 109 DOM
4. 2026-06-13
   days on market $50,000 Active 107 DOM
5. 2026-06-13
   days on market $50,000 Active 106 DOM
6. 2026-06-09
   days on market $50,000 Active 103 DOM
7. 2026-06-08
   days on market $50,000 Active 102 DOM
8. 2026-06-07
   days on market $50,000 Active 101 DOM
9. 2026-06-04
   days on market $50,000 Active 98 DOM
10. 2026-06-03
    days on market $50,000 Active 97 DOM
11. 2026-06-01
    days on market $50,000 Active 95 DOM
12. 2026-05-31
    days on market $50,000 Active 94 DOM
13. 2026-02-26
    historical

    Show marketing remark (955 chars)

    Prime Investment Opportunity! This bundled package includes two multi-family homes (13505 & 13449 Greiner St) and two vacant land parcels (13523 & 13515 Greiner St), offering incredible potential for investors and developers alike. The multi-family properties generate steady rental income, while the adjacent vacant lots provide space for expansion or new construction. Conveniently located in a growing area, this is a rare chance to acquire multiple properties with endless possibilities. Don't miss out on this lucrative investment - schedule your showing today! Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. Zoned: R3

14. 2026-02-26
    listed $50,000 Active 955-char remark

    Show marketing remark (955 chars)

    Prime Investment Opportunity! This bundled package includes two multi-family homes (13505 & 13449 Greiner St) and two vacant land parcels (13523 & 13515 Greiner St), offering incredible potential for investors and developers alike. The multi-family properties generate steady rental income, while the adjacent vacant lots provide space for expansion or new construction. Conveniently located in a growing area, this is a rare chance to acquire multiple properties with endless possibilities. Don't miss out on this lucrative investment - schedule your showing today! Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. Zoned: R3

15. 2026-02-26
    listed $50,000 Active

    Show marketing remark (955 chars)

    Prime Investment Opportunity! This bundled package includes two multi-family homes (13505 & 13449 Greiner St) and two vacant land parcels (13523 & 13515 Greiner St), offering incredible potential for investors and developers alike. The multi-family properties generate steady rental income, while the adjacent vacant lots provide space for expansion or new construction. Conveniently located in a growing area, this is a rare chance to acquire multiple properties with endless possibilities. Don't miss out on this lucrative investment - schedule your showing today! Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. Zoned: R3

16. 2026-02-26
    historical

    Show marketing remark (955 chars)

    Prime Investment Opportunity! This bundled package includes two multi-family homes (13505 & 13449 Greiner St) and two vacant land parcels (13523 & 13515 Greiner St), offering incredible potential for investors and developers alike. The multi-family properties generate steady rental income, while the adjacent vacant lots provide space for expansion or new construction. Conveniently located in a growing area, this is a rare chance to acquire multiple properties with endless possibilities. Don't miss out on this lucrative investment - schedule your showing today! Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. Zoned: R3

17. 2025-11-07
    listed $60,000 Active
18. 2025-11-07
    listed $60,000 Active
19. 2025-03-20
    historical
20. 2025-03-20
    historical
21. 2024-05-16
    listed $19,900 Active
22. 2024-05-16
    listed $19,900 Active
23. 2008-01-21
    soldstatus $27,750
24. 2008-01-09
    historical
25. 2007-07-11
    listed $29,900
26. 2001-03-02
    soldstatus $74,000
27. 1999-05-28
    soldstatus $45,000
28. 1999-05-27
    soldstatus $45,000
29. 1999-03-29
    historical
30. 1999-02-18
    listed $50,000

ⓘ 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: $340 · $28/mo
• Projected year-2 tax: $555 · $46/mo
• Expected delta: +$215/yr (+$18/mo · 63.2%)

ⓘ 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 ≥96°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: $20,860
• − Mortgage interest: −$2,801
• − Property taxes: −$340
• − Insurance: −$250
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$1,455
• Taxable income: $12,677
• Est. tax owed @ 24.0%: −$3,042
• After-tax cash flow: $9,700/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+0.0% since first listed

18 events — show timeline

• 2026-02-26 Listing Removed — REALCOMP
• 2026-02-26 Listed $50,000 REALCOMP
• 2026-02-26 Listed $50,000 MiRealSource-MiMLS
• 2026-02-26 Listing Removed — MiRealSource-MiMLS
• 2025-11-07 Listed $60,000 REALCOMP
• 2025-11-07 Listed $60,000 MiRealSource-MiMLS
• 2025-03-20 Listing Removed — REALCOMP
• 2025-03-20 Listing Removed — MiRealSource-MiMLS
• 2024-05-16 Listed $19,900 REALCOMP
• 2024-05-16 Listed $19,900 MiRealSource-MiMLS
• 2008-01-21 Sold (MLS) $27,750 MiRealSource-MiMLS
• 2008-01-09 Listing Removed — MiRealSource-MiMLS
• 2007-07-11 Listed $29,900 MiRealSource-MiMLS
• 2001-03-02 Sold (Public Records) $74,000 Public Records
• 1999-05-28 Sold (MLS) $45,000 MiRealSource-MiMLS
• 1999-05-27 Sold (Public Records) $45,000 Public Records
• 1999-03-29 Listing Removed — MiRealSource-MiMLS
• 1999-02-18 Listed $50,000 MiRealSource-MiMLS

Property tax history

-7.5%/yr

Latest (2018): $340 · -40.1% YoY. Source: county tax records.