13512 Gable St · Detroit, MI 48212

$150,000

4 bd · 1.5 ba · 1,596 sqft · SingleFamily public records · 56 Days on market

Built 1925 4,356 sqft lot

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming upstairs/downstairs duplex in the Davison neighborhood with lots of natural light. The downstairs unit was renovated in 2018 and has a long-term, reliable tenant. The recently vacant upper unit features an updated kitchen, a four-seat breakfast bar, a stylish bathroom, and wood floors throughout. Each unit has its own furnace and hot water heater. The garage has been converted into comfortable living space, featuring a woodburning stove, heavy insulation, and new vinyl flooring.

Key facts

• Renovated in 2018
• Updated kitchen
• Davison neighborhood

Tags

• DAVISON NEIGHBORHOOD
• RENOVATED IN 2018
• UPDATED KITCHEN
• ALL IN ONE WASHER DRYER
• FOUR SEAT BREAKFAST BAR
• WOOD BURNING STOVE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (2.1% below list).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.

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: 166 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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).
• At $1,468/mo this rent would consume 46% of the median local household income ($38k/yr) (locally 1175% 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $150k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1925 — 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. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $70,224
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13497 Dwyer St	0.02mi	5/2.0 (+1)	1,680 (+5%)	6mo	$65,000	$39	78
17160 Conley St	0.56mi	4/2.0	1,600 (+0%)	7mo	$70,000	$44	65
13790 Saint Louis St	0.16mi	4/1.5	1,704 (+7%)	22mo	$52,000	$31	63
12130 Bloom St	0.54mi	3/1.5 (-1)	1,641 (+3%)	5mo	$189,000	$115	60
11844 Dwyer St	0.42mi	3/1.0 (-1)	1,466 (-8%)	8mo	$105,000	$72	53
6791 Iowa St	0.74mi	3/1.0 (-1)	1,600 (+0%)	7mo	$85,000	$53	52
12876 Saint Louis St	0.30mi	3/1.0 (-1)	1,687 (+6%)	22mo	$48,000	$28	52
17875 St Louis St	0.61mi	4/1.5	1,545 (-3%)	22mo	$45,000	$29	48
4590 Charles St	0.70mi	5/2.5 (+1)	1,437 (-10%)	3mo	$230,000	$160	40
12862 Saint Louis St	0.32mi	3/2.5 (-1)	1,371 (-14%)	23mo	$135,000	$98	34
6743 Covert St	0.50mi	3/1.0 (-1)	1,401 (-12%)	20mo	$60,000	$43	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-9,492
• Equity at exit: $22,365

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $10,684
• Equity at exit: $12,969

Cash invested: $42,000 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 166
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$77 /mo · $927/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $233

Break-even live

Break-even rent $1,173

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $318	-5% $276	+0% $233	+5% $191	+10% $148
Rent	-10% $117	-5% $175	+0% $233	+5% $291	+10% $349
Rate	-1.0pp $309	-0.5pp $271	base $233	+0.5pp $194	+1.0pp $155

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7600 Dobel St Detroit, MI	3.0	1.0	1234	$1,400	$1.13	17d	1	0.84mi
18891 Moenart St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	2d	1	1.20mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	5d	1	1.36mi

Listing history 15 events

1. 2026-04-21
   status Pending 492-char remark

   Show marketing remark (492 chars)

   Charming upstairs/downstairs duplex in the Davison neighborhood with lots of natural light. The downstairs unit was renovated in 2018 and has a long-term, reliable tenant. The recently vacant upper unit features an updated kitchen, a four-seat breakfast bar, a stylish bathroom, and wood floors throughout. Each unit has its own furnace and hot water heater. The garage has been converted into comfortable living space, featuring a woodburning stove, heavy insulation, and new vinyl flooring.

2. 2026-04-21
   status Pending

   Show marketing remark (492 chars)

   Charming upstairs/downstairs duplex in the Davison neighborhood with lots of natural light. The downstairs unit was renovated in 2018 and has a long-term, reliable tenant. The recently vacant upper unit features an updated kitchen, a four-seat breakfast bar, a stylish bathroom, and wood floors throughout. Each unit has its own furnace and hot water heater. The garage has been converted into comfortable living space, featuring a woodburning stove, heavy insulation, and new vinyl flooring.

3. 2026-03-28
   status Active
4. 2026-03-27
   historical
5. 2026-03-18
   price $150,000 492-char remark

   Show marketing remark (492 chars)

   Charming upstairs/downstairs duplex in the Davison neighborhood with lots of natural light. The downstairs unit was renovated in 2018 and has a long-term, reliable tenant. The recently vacant upper unit features an updated kitchen, a four-seat breakfast bar, a stylish bathroom, and wood floors throughout. Each unit has its own furnace and hot water heater. The garage has been converted into comfortable living space, featuring a woodburning stove, heavy insulation, and new vinyl flooring.

6. 2026-03-17
   price $150,000
7. 2026-02-23
   listed $160,000 Active

   Show marketing remark (492 chars)

   Charming upstairs/downstairs duplex in the Davison neighborhood with lots of natural light. The downstairs unit was renovated in 2018 and has a long-term, reliable tenant. The recently vacant upper unit features an updated kitchen, a four-seat breakfast bar, a stylish bathroom, and wood floors throughout. Each unit has its own furnace and hot water heater. The garage has been converted into comfortable living space, featuring a woodburning stove, heavy insulation, and new vinyl flooring.

8. 2026-02-23
   listed $160,000 Active 492-char remark

   Show marketing remark (492 chars)

   Charming upstairs/downstairs duplex in the Davison neighborhood with lots of natural light. The downstairs unit was renovated in 2018 and has a long-term, reliable tenant. The recently vacant upper unit features an updated kitchen, a four-seat breakfast bar, a stylish bathroom, and wood floors throughout. Each unit has its own furnace and hot water heater. The garage has been converted into comfortable living space, featuring a woodburning stove, heavy insulation, and new vinyl flooring.

9. 2002-05-02
   soldstatus $74,500
10. 2002-02-11
    soldstatus $74,500 243-char remark

    Show marketing remark (243 chars)

    A GREAT HOUSE FOR A LARGE FAMILY OR INVESTOR. HARDWOOD FLRS IN EACH UNIT, CEILING FANS, NEWER FURNACES, A/C READY, PRIVATE ENTRY EACH UNIT & BASEMENT. ALL UTILITIES SEPERATE. SECURITY ALARM. HOME WARRANTY. 1/2 BATH IN BSMT. MOVE IN COND.

11. 2002-01-03
    historical 243-char remark

    Show marketing remark (243 chars)

    A GREAT HOUSE FOR A LARGE FAMILY OR INVESTOR. HARDWOOD FLRS IN EACH UNIT, CEILING FANS, NEWER FURNACES, A/C READY, PRIVATE ENTRY EACH UNIT & BASEMENT. ALL UTILITIES SEPERATE. SECURITY ALARM. HOME WARRANTY. 1/2 BATH IN BSMT. MOVE IN COND.

12. 2001-12-17
    listed $74,000 243-char remark

    Show marketing remark (243 chars)

    A GREAT HOUSE FOR A LARGE FAMILY OR INVESTOR. HARDWOOD FLRS IN EACH UNIT, CEILING FANS, NEWER FURNACES, A/C READY, PRIVATE ENTRY EACH UNIT & BASEMENT. ALL UTILITIES SEPERATE. SECURITY ALARM. HOME WARRANTY. 1/2 BATH IN BSMT. MOVE IN COND.

13. 2000-09-15
    historical
14. 2000-02-28
    listed $20,000
15. 1999-06-29
    soldstatus $26,558

ⓘ 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: $927 · $77/mo
• Projected year-2 tax: $1,619 · $135/mo
• Expected delta: +$691/yr (+$58/mo · 74.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 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: $17,616
• − Mortgage interest: −$8,402
• − Property taxes: −$927
• − Insurance: −$750
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$4,364
• Taxable income: $354
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $2,715/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): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• Rent YoY: —
• 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

+464.8% since first listed

15 events — show timeline

• 2026-04-21 Pending — MiRealSource-MiMLS
• 2026-04-21 Pending — REALCOMP
• 2026-03-28 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-03-18 Price Changed $150,000 MiRealSource-MiMLS
• 2026-03-17 Price Changed $150,000 REALCOMP
• 2026-02-23 Listed $160,000 REALCOMP
• 2026-02-23 Listed $160,000 MiRealSource-MiMLS
• 2002-05-02 Sold (Public Records) $74,500 Public Records
• 2002-02-11 Sold (MLS) $74,500 MiRealSource-MiMLS
• 2002-01-03 Listing Removed — MiRealSource-MiMLS
• 2001-12-17 Listed $74,000 MiRealSource-MiMLS
• 2000-09-15 Listing Removed — REALCOMP
• 2000-02-28 Listed $20,000 REALCOMP
• 1999-06-29 Sold (Public Records) $26,558 Public Records

Property tax history

-2.4%/yr

Latest (2025): $927 · -11.1% YoY. Source: county tax records.