12141 Montrose St · Detroit, MI 48227

$35,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 6 Days on market

Built 1940 Est $61k · 43% 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
• 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

HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . FHA Case #261-802494. Uninsured. Bids due by 10-25-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof. Rm sizes apprx.

Key facts

• R1 zoning
• Dual street access
• Maximum visibility

Tags

• TWO LOTS SOLD TOGETHER
• CORNER LOT POSITIONING
• R1 ZONING
• STEPS FROM NEIGHBORHOOD PARK
• MAXIMUM VISIBILITY
• DUAL STREET ACCESS

Property features AI

Exterior

• Home design: Built in 1940; Single-family property
• Construction: 1,000 finished living area
• Exterior features: Located in the Grandale subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 35.6% 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: 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.
• Zoned schools: Henderson Academy (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 520 students, 91% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 392 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); 42% 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).
• At $1,388/mo this rent would consume 46% of the median local household income ($37k/yr) (locally 2371% 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 $242 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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 $35k implies a 1300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.97% ✓
• Cap rate: 35.61%
• Cash-on-cash: 104.70%
• DSCR: 5.66
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $61,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12057 Forrer St	0.10mi	3/1.0	1,000 (0%)	1mo	$45,000	$45	95
12660 Grandmont Ave	0.55mi	3/1.0	1,019 (+2%)	1mo	$85,000	$83	70
12699 Woodmont Ave	0.54mi	3/1.0	1,054 (+5%)	1mo	$64,000	$61	65
11669 Strathmoor St	0.72mi	3/1.0	974 (-3%)	2mo	$30,000	$31	61
13620 Saint Marys St	0.71mi	3/2.0	1,020 (+2%)	2mo	$72,000	$71	58
13209 Terry St	0.68mi	3/1.5	1,044 (+4%)	2mo	$54,500	$52	57
11375 Grandmont Ave	0.62mi	3/1.0	1,083 (+8%)	1mo	$104,000	$96	57
9930 Whitcomb St	0.64mi	3/1.0	1,078 (+8%)	2mo	$35,000	$32	56
9599 Whitcomb St	0.72mi	3/1.0	1,060 (+6%)	1mo	$55,000	$52	55
12203 Grandmont Ave	0.49mi	3/1.5	861 (-14%)	1mo	$95,000	$110	51
9909 Asbury Park	0.70mi	3/1.0	1,095 (+10%)	1mo	$95,000	$87	51
9580 Mansfield St	0.71mi	2/1.0 (-1)	890 (-11%)	0mo	$23,000	$26	43

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: —
• Equity multiple: 6.36×
• Total profit: $52,519
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 14.47×
• Total profit: $132,003
• Equity at exit: $3,026

Cash invested: $9,800 (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: 392
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $855

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 33%

Sensitivity live

Price	-10% $879	-5% $867	+0% $855	+5% $843	+10% $831
Rent	-10% $745	-5% $800	+0% $855	+5% $910	+10% $965
Rate	-1.0pp $873	-0.5pp $864	base $855	+0.5pp $846	+1.0pp $837

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	24d	1	0.04mi
11641 Mansfield St Unit 2 Detroit, MI	3.0	1.0	1449	$1,300	$0.90	45d	1	0.33mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	26d	1	0.40mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	18d	1	0.41mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	18d	1	0.43mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	14d	1	0.43mi
12014 Terry St Detroit, MI	2.0	1.0	1361	$1,200	$0.88	45d	1	0.48mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	26d	1	0.51mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	45d	1	0.56mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	18d	1	0.59mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	0.61mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	45d	1	0.64mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	0.64mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	19d	1	0.64mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	18d	1	0.65mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	0.67mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	45d	1	0.67mi
9589 Mansfield St Detroit, MI	4.0	1.0	1250	$1,500	$1.20	7d	1	0.74mi
10030 Abington Ave Detroit, MI	4.0	2.0	1350	$1,475	$1.09	13d	1	0.74mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	45d	1	0.81mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	0.88mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	26d	1	0.90mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	45d	1	0.91mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	45d	1	0.93mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	7d	1	0.94mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	3d	1	0.94mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	45d	1	0.95mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	18d	1	0.96mi
9220 Mansfield St Detroit, MI	3.0	1.0	1200	$1,300	$1.08	45d	1	0.99mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	7d	1	1.07mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	45d	1	1.07mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	18d	1	1.08mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	7d	1	1.11mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	45d	1	1.17mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	26d	1	1.18mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.19mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	1.21mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	7d	1	1.22mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	45d	1	1.23mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	45d	1	1.24mi

Listing history 5 events

1. 2026-06-21
   days on market $35,000 Active 6 DOM
2. 2026-06-18
   days on market $35,000 Active 3 DOM
3. 2026-06-17
   days on market $35,000 Active 2 DOM
4. 2026-06-16
   remarks 651-char remark
5. 2026-06-16
   listed $35,000 Active 1 DOM

ⓘ 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 ≥98°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: $16,662
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$1,018
• Taxable income: $10,317
• Est. tax owed @ 24.0%: −$2,476
• After-tax cash flow: $7,784/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

+26.8% since first listed

5 events — show timeline

• 2026-06-16 Listed $35,000 FSBO.com
• 2009-12-07 Sold (MLS) $2,500 REALCOMP
• 2009-10-16 Listed $4,000 REALCOMP
• 2002-06-06 Sold (Public Records) $79,000 Public Records
• 2001-10-04 Sold (Public Records) $27,600 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,134 · +65.5% YoY. Source: county tax records.