12066 Minden St · Detroit, MI 48205

$64,900

2 bd · 1.5 ba · 1,615 sqft · SingleFamily public records · 89 Days on market

Built 1939 4,356 sqft lot Est $79k · 18% under

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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
• 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

Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1939

Property features AI

Exterior

• Parking: Detached 2-car garage; Detached parking
• Utilities: Natural gas connected; Cable connected; High-speed internet available; Public sewer
• Home design: Single family residence; Residential property; Built in 1939
• Construction: Brick construction
• Exterior features: Sidewalk; Public water

Interior

• Kitchen: Kitchen (10 x 10)
• Bedrooms: Primary bedroom (9 x 12); Bedroom 2 (9 x 10); Bedroom 3 (10 x 18); Bedroom 4 (10 x 12)
• Bathrooms: Primary bathroom (7 x 6); Bathroom 1 (6 x 8); 1 full bathroom
• Heating & cooling: Forced air heating; Heating present
• Interior features: Replacement windows; Fireplace; Total of 7 rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 40% of the median local income ($39k/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 $449 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.99% ✓
• Cap rate: 15.44%
• Cash-on-cash: 32.68%
• DSCR: 2.45
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $79,135
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11867 Engleside St	0.23mi	3/1.0 (+1)	1,500 (-7%)	9mo	$60,000	$40	63
11860 College St	0.11mi	3/1.5 (+1)	1,395 (-14%)	9mo	$71,000	$51	60
12091 Kilbourne St	0.50mi	3/1.0 (+1)	1,650 (+2%)	13mo	$126,000	$76	56
11457 Nashville St	0.42mi	3/1.5 (+1)	1,464 (-9%)	12mo	$75,000	$51	50
12590 Rosemary St	0.71mi	3/1.5 (+1)	1,632 (+1%)	12mo	$41,501	$25	50
17170 Bradford Ave	0.46mi	3/1.0 (+1)	1,450 (-10%)	7mo	$27,000	$19	49
12304 Rosemary St	0.64mi	3/1.5 (+1)	1,480 (-8%)	5mo	$22,000	$15	47
11062 Kenmoor St	0.68mi	3/2.0 (+1)	1,670 (+3%)	13mo	$55,000	$33	45
11450 Minden St	0.39mi	3/1.0 (+1)	1,419 (-12%)	13mo	$120,000	$85	44
17613 Rowe St	0.65mi	3/1.5 (+1)	1,391 (-14%)	6mo	$71,000	$51	36
8791 E Outer Dr	0.74mi	3/1.5 (+1)	1,840 (+14%)	3mo	$60,000	$33	35
17380 Runyon St	0.72mi	3/1.5 (+1)	1,406 (-13%)	12mo	$69,500	$49	30

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 2.04×
• Total profit: $18,941
• Equity at exit: $9,677

10-year hold

• IRR: 32.4%
• Equity multiple: 3.69×
• Total profit: $48,897
• Equity at exit: $5,611

Cash invested: $18,172 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$340
• Tax from tax record: −$156 /mo · $1,868/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $495

Break-even live

Break-even rent $662

Max offer price $64,900

Occupancy floor 57%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	3d	1	0.24mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	17d	1	0.25mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	17d	1	0.56mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	43d	1	0.60mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	0.65mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	0.67mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	0.72mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	0.77mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	17d	1	0.78mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	17d	1	0.79mi
18457 Hoover St Unit 57 Detroit, MI	2.0	1.0	1950	$850	$0.44	14d	1	1.02mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.23mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	1.29mi
18947 Runyon St Detroit, MI	3.0	1.0	1614	$1,100	$0.68	43d	1	1.29mi
18961 Teppert St Detroit, MI	3.0	1.5	2015	$1,250	$0.62	12d	1	1.33mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	1.46mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	1.47mi

Listing history 50 events

1. 2026-06-18
   days on market $64,900 Active 89 DOM
2. 2026-06-17
   days on market $64,900 Active 88 DOM
3. 2026-06-15
   days on market $64,900 Active 86 DOM
4. 2026-06-13
   days on market $64,900 Active 84 DOM
5. 2026-06-13
   days on market $64,900 Active 83 DOM
6. 2026-06-09
   days on market $64,900 Active 80 DOM
7. 2026-06-08
   days on market $64,900 Active 79 DOM
8. 2026-06-07
   days on market $64,900 Active 78 DOM
9. 2026-06-04
   days on market $64,900 Active 75 DOM
10. 2026-06-03
    days on market $64,900 Active 74 DOM
11. 2026-06-01
    days on market $64,900 Active 72 DOM
12. 2026-05-31
    days on market $64,900 Active 71 DOM
13. 2026-05-20
    status Active 362-char remark

    Show marketing remark (360 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

14. 2026-05-20
    status Active 360-char remark

    Show marketing remark (360 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

15. 2026-05-20
    status Active

    Show marketing remark (360 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

16. 2026-03-31
    status Pending 360-char remark

    Show marketing remark (362 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

17. 2026-03-31
    status Pending 362-char remark

    Show marketing remark (362 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

18. 2026-03-31
    status Pending

    Show marketing remark (362 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

19. 2026-01-29
    listed $64,900 Active 362-char remark

    Show marketing remark (360 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

20. 2026-01-29
    listed $64,900 Active 360-char remark

    Show marketing remark (360 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

21. 2026-01-29
    listed $64,900 Active

    Show marketing remark (360 chars)

    Great Brick Bungalow! Homeowners and Investors check out this 4 bedroom, 2 fulls baths, with updated kitchen and bathrooms, newer windows, updated electrical, glass block windows in basement and more! Primary bedroom can be downstairs or upstairs. Property has been winterized and furnace and water heater are in storage and will be installed prior to closing.

22. 2026-01-09
    historical
23. 2026-01-09
    historical
24. 2025-09-03
    listed $95,000 Active
25. 2025-09-01
    listed $95,000 Active
26. 2021-09-21
    soldstatus $89,900
27. 2021-05-11
    soldstatus $16,000 Sold
28. 2021-05-11
    soldstatus $16,000 Closed
29. 2021-04-16
    status Pending
30. 2021-04-13
    historical
31. 2021-03-30
    status Pending
32. 2021-03-30
    status Pending
33. 2021-03-21
    price $19,000
34. 2021-03-21
    price $19,000
35. 2021-03-20
    price $25,998
36. 2021-03-09
    status Active
37. 2021-03-09
    status Active
38. 2021-03-09
    status Pending
39. 2021-03-09
    status Pending
40. 2021-03-03
    listed $30,000 Active
41. 2021-03-03
    listed $30,000 Active
42. 2020-02-20
    historical
43. 2020-02-20
    historical
44. 2020-02-01
    price $28,900
45. 2020-01-31
    price $28,900
46. 2020-01-09
    listed $29,900 Active
47. 2020-01-09
    listed $29,900 Active
48. 2019-04-17
    soldstatus $10,000 Sold
49. 2019-04-17
    soldstatus $10,000 Closed
50. 2018-12-27
    status Pending

ⓘ 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: $1,868 · $156/mo
• Projected year-2 tax: $1,868 · $156/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 ≥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: $15,463
• − Mortgage interest: −$3,635
• − Property taxes: −$1,868
• − Insurance: −$324
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$1,888
• Taxable income: $5,273
• Est. tax owed @ 24.0%: −$1,266
• After-tax cash flow: $4,674/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

+363.6% since first listed

54 events — show timeline

• 2026-05-20 Relisted — REALCOMP
• 2026-05-20 Relisted — MiRealSource-MiMLS
• 2026-05-20 Relisted — SW Michigan MLS
• 2026-03-31 Pending — MiRealSource-MiMLS
• 2026-03-31 Pending — REALCOMP
• 2026-03-31 Pending — SW Michigan MLS
• 2026-01-29 Listed $64,900 SW Michigan MLS
• 2026-01-29 Listed $64,900 MiRealSource-MiMLS
• 2026-01-29 Listed $64,900 REALCOMP
• 2026-01-09 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2025-09-03 Listed $95,000 REALCOMP
• 2025-09-01 Listed $95,000 MiRealSource-MiMLS
• 2021-09-21 Sold (Public Records) $89,900 Public Records
• 2021-05-11 Sold (MLS) $16,000 MiRealSource-MiMLS
• 2021-05-11 Sold (MLS) $16,000 REALCOMP
• 2021-04-16 Pending — REALCOMP
• 2021-04-13 Listing Removed — REALCOMP
• 2021-03-30 Pending — MiRealSource-MiMLS
• 2021-03-30 Pending — REALCOMP
• 2021-03-21 Price Changed $19,000 MiRealSource-MiMLS
• 2021-03-21 Price Changed $19,000 REALCOMP
• 2021-03-20 Price Changed $25,998 REALCOMP
• 2021-03-09 Relisted — MiRealSource-MiMLS
• 2021-03-09 Relisted — REALCOMP
• 2021-03-09 Pending — MiRealSource-MiMLS
• 2021-03-09 Pending — REALCOMP
• 2021-03-03 Listed $30,000 MiRealSource-MiMLS
• 2021-03-03 Listed $30,000 REALCOMP
• 2020-02-20 Listing Removed — REALCOMP
• 2020-02-20 Listing Removed — MiRealSource-MiMLS
• 2020-02-01 Price Changed $28,900 MiRealSource-MiMLS
• 2020-01-31 Price Changed $28,900 REALCOMP
• 2020-01-09 Listed $29,900 MiRealSource-MiMLS
• 2020-01-09 Listed $29,900 REALCOMP
• 2019-04-17 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2019-04-17 Sold (MLS) $10,000 REALCOMP
• 2018-12-27 Pending — MiRealSource-MiMLS
• 2018-12-27 Pending — REALCOMP
• 2018-12-18 Price Changed $8,999 MiRealSource-MiMLS
• 2018-12-18 Price Changed $8,999 REALCOMP
• 2018-11-08 Listed $9,900 MiRealSource-MiMLS
• 2018-11-08 Listed $9,900 REALCOMP
• 2010-10-18 Sold (MLS) $3,500 REALCOMP
• 2010-09-10 Listed $6,400 REALCOMP
• 2010-06-11 Sold (Public Records) $113,000 Public Records
• 2007-12-30 Listing Removed — REALCOMP
• 2006-10-18 Listed $125,000 REALCOMP
• 2006-02-17 Sold (MLS) $45,000 REALCOMP
• 2005-11-15 Listed $50,600 REALCOMP
• 2005-10-13 Listing Removed — REALCOMP
• 2005-09-13 Listed $25,500 REALCOMP
• 1995-12-28 Sold (Public Records) $12,500 Public Records
• 1995-12-28 Sold (Public Records) $14,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,868 · -9.9% YoY. Source: county tax records.