12057 Forrer St · Detroit, MI 48227

$55,000

3 bd · 1.0 ba · 990 sqft · SingleFamily public records · 102 Days on market

Built 1953 4,356 sqft lot $56/sqft · 19% above area Est $47k · 17% over

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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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1953

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.5% 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 fast (+5.6%/yr); 385 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 45% of the median local income ($37k/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 $380 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 + 5.6% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y ago; this cycle's ask has dropped $8k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $55k implies a 1194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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 1953 — 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: 2.49% ✓
• Cap rate: 20.46%
• Cash-on-cash: 50.58%
• DSCR: 3.25
• GRM: 3.3

CMA / ARV

• ARV (median comp): $46,842
• List price: $55,000
• Delta: 17.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12057 Forrer St	0.00mi	3/1.0	1,000 (+1%)	1mo	$45,000	$45	98
12124 Asbury Park	0.29mi	3/1.5	919 (-7%)	2mo	$130,000	$141	71
12660 Grandmont Ave	0.55mi	3/1.0	1,019 (+3%)	1mo	$85,000	$83	68
9555 Montrose St	0.65mi	3/1.0	999 (+1%)	3mo	$45,000	$45	66
12699 Woodmont Ave	0.55mi	3/1.0	1,054 (+6%)	1mo	$64,000	$61	63
11375 Grandmont Ave	0.52mi	3/1.0	1,083 (+9%)	0mo	$104,000	$96	60
9930 Whitcomb St	0.60mi	3/1.0	1,078 (+9%)	2mo	$35,000	$32	56
9599 Whitcomb St	0.68mi	3/1.0	1,060 (+7%)	1mo	$55,000	$52	56
12203 Grandmont Ave	0.45mi	3/1.5	861 (-13%)	1mo	$95,000	$110	55
9909 Asbury Park	0.61mi	3/1.0	1,095 (+11%)	1mo	$95,000	$87	53
9580 Mansfield St	0.63mi	2/1.0 (-1)	890 (-10%)	0mo	$23,000	$26	49
13599 Winthrop St	0.74mi	3/1.5	1,089 (+10%)	2mo	$145,000	$133	45

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: 51.4%
• Equity multiple: 3.35×
• Total profit: $36,140
• Equity at exit: $8,201

10-year hold

• IRR: 57.9%
• Equity multiple: 7.54×
• Total profit: $100,746
• Equity at exit: $4,755

Cash invested: $15,400 (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: 385
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,368 high
• Mortgage (P&I): −$288
• Tax from tax record: −$120 /mo · $1,445/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $649

Break-even live

Break-even rent $547

Max offer price $55,000

Occupancy floor 48%

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: $13,750
• Closing costs: $1,650
• 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	22d	1	0.09mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	17d	1	0.41mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	13d	1	0.41mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	17d	1	0.44mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	24d	1	0.45mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	44d	1	0.51mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	17d	1	0.54mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.57mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	24d	1	0.60mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	44d	1	0.62mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	44d	1	0.66mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	18d	1	0.66mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	17d	1	0.79mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	44d	1	0.79mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	0.82mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	17d	1	0.89mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	2d	1	0.92mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	44d	1	0.94mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	44d	1	0.96mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	17d	1	0.97mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	17d	1	1.00mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	1.03mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	1.05mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	1.07mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.13mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.15mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.17mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	5d	1	1.22mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	44d	1	1.23mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	1.24mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.24mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	1.27mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	44d	1	1.32mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	1.34mi
8604 Whitcomb St Detroit, MI	3.0	2.0	1033	$1,300	$1.26	44d	1	1.34mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	44d	1	1.45mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	44d	1	1.46mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	1.46mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	13d	1	1.46mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	18d	1	1.47mi

Listing history 23 events

1. 2026-05-16
   status Pending 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

2. 2026-05-16
   status Pending 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

3. 2026-04-07
   price $55,000 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

4. 2026-04-06
   price $55,000 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

5. 2026-02-05
   price $59,900 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

6. 2026-02-04
   price $59,900 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

7. 2026-02-03
   historical
8. 2026-02-03
   historical
9. 2025-10-02
   listed $62,500 Active 267-char remark

   Show marketing remark (267 chars)

   Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

10. 2025-10-02
    listed $62,500 Active 267-char remark

    Show marketing remark (267 chars)

    Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

11. 2025-10-02
    historical

    Show marketing remark (267 chars)

    Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

12. 2025-10-02
    historical

    Show marketing remark (267 chars)

    Now Vacant. Nice neighborhood. Solid brick home with a newer roof. Room sizes estimated. Buyer's agent to verify all information. Buyer to pay compliance fee to listing broker at close. Thank you for checking out our listing. Package deal available with 12057 Forrer.

13. 2025-08-14
    price $62,500
14. 2025-08-13
    price $62,500
15. 2025-06-28
    listed $67,500 Active
16. 2025-06-28
    listed $62,500 Active
17. 2025-06-28
    listed $62,500 Active
18. 2025-06-28
    listed $67,500 Active
19. 2012-09-13
    soldstatus $4,250
20. 2012-09-13
    soldstatus $4,250
21. 2012-08-29
    historical
22. 2012-07-24
    listed $3,990
23. 2012-07-24
    listed $3,990

ⓘ 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: $1,445 · $120/mo
• Projected year-2 tax: $1,445 · $120/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $16,418
• − Mortgage interest: −$3,081
• − Property taxes: −$1,445
• − Insurance: −$275
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$1,600
• Taxable income: $7,391
• Est. tax owed @ 24.0%: −$1,774
• After-tax cash flow: $6,016/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

+1278.4% since first listed

23 events — show timeline

• 2026-05-16 Pending — MiRealSource-MiMLS
• 2026-05-16 Pending — REALCOMP
• 2026-04-07 Price Changed $55,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $55,000 REALCOMP
• 2026-02-05 Price Changed $59,900 MiRealSource-MiMLS
• 2026-02-04 Price Changed $59,900 REALCOMP
• 2026-02-03 Listing Removed — REALCOMP
• 2026-02-03 Listing Removed — MiRealSource-MiMLS
• 2025-10-02 Listing Removed — MiRealSource-MiMLS
• 2025-10-02 Listing Removed — REALCOMP
• 2025-10-02 Listed $62,500 REALCOMP
• 2025-10-02 Listed $62,500 MiRealSource-MiMLS
• 2025-08-14 Price Changed $62,500 MiRealSource-MiMLS
• 2025-08-13 Price Changed $62,500 REALCOMP
• 2025-06-28 Listed $67,500 REALCOMP
• 2025-06-28 Listed $67,500 MiRealSource-MiMLS
• 2025-06-28 Listed $62,500 REALCOMP
• 2025-06-28 Listed $62,500 MiRealSource-MiMLS
• 2012-09-13 Sold (MLS) $4,250 MiRealSource-MiMLS
• 2012-09-13 Sold (MLS) $4,250 REALCOMP
• 2012-08-29 Listing Removed — MiRealSource-MiMLS
• 2012-07-24 Listed $3,990 MiRealSource-MiMLS
• 2012-07-24 Listed $3,990 REALCOMP

Property tax history

+5.8%/yr

Latest (2025): $1,445 · -54.1% YoY. Source: county tax records.