12350 Cloverlawn St · Detroit, MI 48204

$39,900

5 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 304 Days on market

Built 1923 3,920 sqft lot $28/sqft · 47% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

Key facts

• 3,920 sq ft lot
• Built 1923
• Listed 304 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $870 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.5% vs local median 10.1% 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: 248 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $1,496/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($276 loan paydown + $4k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 27y ago; this cycle's ask has dropped $50k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $40k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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: 3.75% ✓
• Cap rate: 32.46%
• Cash-on-cash: 93.45%
• DSCR: 5.16
• GRM: 2.2

CMA / ARV

• ARV (median comp): $99,575
• List price: $39,900
• Delta: -59.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12076 Cloverlawn St	0.20mi	4/1.0 (-1)	1,602 (+14%)	9mo	$105,000	$66	55
12237 Ilene St	0.51mi	4/1.0 (-1)	1,440 (+3%)	15mo	$67,000	$47	55
12706 Pinehurst St	0.71mi	4/1.5 (-1)	1,365 (-3%)	9mo	$37,000	$27	47
12610 Ilene St	0.48mi	4/2.0 (-1)	1,285 (-8%)	9mo	$36,750	$29	47
13955 Roselawn St	0.66mi	4/2.0 (-1)	1,440 (+3%)	11mo	$122,000	$85	46
13581 Cloverlawn St	0.52mi	4/2.0 (-1)	1,240 (-12%)	4mo	$143,000	$115	44
11130 Cloverlawn St	0.29mi	4/2.0 (-1)	1,568 (+12%)	17mo	$45,000	$29	44
13991 Cloverlawn St	0.70mi	5/1.0	1,296 (-8%)	14mo	$136,000	$105	43
13577 Tuller St	0.58mi	4/1.5 (-1)	1,312 (-7%)	15mo	$41,000	$31	43
11625 Ohio St	0.44mi	4/1.5 (-1)	1,578 (+12%)	13mo	$102,000	$65	41
13900 Northlawn St	0.61mi	4/2.0 (-1)	1,496 (+7%)	17mo	$160,000	$107	37
12739 Stoepel St	0.59mi	4/1.5 (-1)	1,612 (+15%)	10mo	$145,000	$90	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.91×
• Total profit: $77,190
• Equity at exit: $35,945

10-year hold

• IRR: 97.7%
• Equity multiple: 17.45×
• Total profit: $183,822
• Equity at exit: $77,517

Cash invested: $11,172 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,496 high
• Mortgage (P&I): −$209
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $870

Break-even live

Break-even rent $394

Max offer price $39,900

Occupancy floor 37%

Sensitivity live

Price	-10% $893	-5% $881	+0% $870	+5% $859	+10% $847
Rent	-10% $752	-5% $811	+0% $870	+5% $929	+10% $988
Rate	-1.0pp $890	-0.5pp $880	base $870	+0.5pp $860	+1.0pp $849

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.61mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.71mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.71mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	6d	1	0.83mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.88mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.08mi

Listing history 39 events

1. 2026-05-15
   status Pending 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

2. 2026-05-15
   status Pending 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

3. 2026-04-29
   price $39,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

4. 2026-04-29
   price $39,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

5. 2026-03-04
   price $49,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

6. 2026-03-03
   price $49,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

7. 2026-01-08
   price $59,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

8. 2026-01-08
   price $59,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

9. 2025-12-24
   price $69,900 348-char remark

   Show marketing remark (348 chars)

   Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

10. 2025-12-23
    price $69,900 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

11. 2025-11-12
    historical
12. 2025-11-12
    historical
13. 2025-09-17
    price $79,900 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

14. 2025-09-16
    price $79,900 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

15. 2025-08-08
    price $84,900 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

16. 2025-08-08
    price $84,900 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

17. 2025-07-15
    listed $89,900 Active 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

18. 2025-07-14
    listed $89,900 Active 348-char remark

    Show marketing remark (348 chars)

    Opportunity! This property was previously converted to the single family residence. Most of the work has already been completed. This property has the potential to be converted back to a multifamily home. This property is just awaiting the finishing touches. Property is being sold in as-is condition. Additional photo's are available upon request.

19. 2025-06-01
    historical
20. 2025-06-01
    historical
21. 2025-04-25
    listed $99,900 Active
22. 2025-04-25
    listed $99,900 Active
23. 2025-04-01
    historical
24. 2025-04-01
    historical
25. 2025-03-17
    price $99,900
26. 2025-03-16
    listed $99,900 Active
27. 2025-03-16
    price $99,900
28. 2025-03-16
    listed $99,900 Active
29. 2025-02-16
    price $114,900
30. 2025-02-15
    price $114,900
31. 2025-01-20
    listed $125,000 Active
32. 2025-01-20
    listed $125,000 Active
33. 2004-02-27
    soldstatus $20,000
34. 2003-11-14
    listed $20,000
35. 2002-04-05
    soldstatus $74,000
36. 2000-09-19
    soldstatus $33,000
37. 2000-03-10
    soldstatus $10,000
38. 2000-02-24
    historical
39. 1999-12-06
    listed $37,500

ⓘ 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: $1,026 · $86/mo
• Projected year-2 tax: $1,026 · $86/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 ≥97°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: $17,946
• − Mortgage interest: −$2,235
• − Property taxes: −$1,026
• − Insurance: −$200
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$1,161
• Taxable income: $10,453
• Est. tax owed @ 24.0%: −$2,509
• After-tax cash flow: $7,932/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+6.4% since first listed

39 events — show timeline

• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-04-29 Price Changed $39,900 MiRealSource-MiMLS
• 2026-04-29 Price Changed $39,900 REALCOMP
• 2026-03-04 Price Changed $49,900 MiRealSource-MiMLS
• 2026-03-03 Price Changed $49,900 REALCOMP
• 2026-01-08 Price Changed $59,900 MiRealSource-MiMLS
• 2026-01-08 Price Changed $59,900 REALCOMP
• 2025-12-24 Price Changed $69,900 MiRealSource-MiMLS
• 2025-12-23 Price Changed $69,900 REALCOMP
• 2025-11-12 Listing Removed — REALCOMP
• 2025-11-12 Listing Removed — MiRealSource-MiMLS
• 2025-09-17 Price Changed $79,900 MiRealSource-MiMLS
• 2025-09-16 Price Changed $79,900 REALCOMP
• 2025-08-08 Price Changed $84,900 MiRealSource-MiMLS
• 2025-08-08 Price Changed $84,900 REALCOMP
• 2025-07-15 Listed $89,900 REALCOMP
• 2025-07-14 Listed $89,900 MiRealSource-MiMLS
• 2025-06-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-01 Listing Removed — REALCOMP
• 2025-04-25 Listed $99,900 REALCOMP
• 2025-04-25 Listed $99,900 MiRealSource-MiMLS
• 2025-04-01 Listing Removed — MiRealSource-MiMLS
• 2025-04-01 Listing Removed — REALCOMP
• 2025-03-17 Price Changed $99,900 MiRealSource-MiMLS
• 2025-03-16 Listed $99,900 REALCOMP
• 2025-03-16 Price Changed $99,900 REALCOMP
• 2025-03-16 Listed $99,900 MiRealSource-MiMLS
• 2025-02-16 Price Changed $114,900 MiRealSource-MiMLS
• 2025-02-15 Price Changed $114,900 REALCOMP
• 2025-01-20 Listed $125,000 REALCOMP
• 2025-01-20 Listed $125,000 MiRealSource-MiMLS
• 2004-02-27 Sold (MLS) $20,000 REALCOMP
• 2003-11-14 Listed $20,000 REALCOMP
• 2002-04-05 Sold (Public Records) $74,000 Public Records
• 2000-09-19 Sold (Public Records) $33,000 Public Records
• 2000-03-10 Sold (Public Records) $10,000 Public Records
• 2000-02-24 Listing Removed — REALCOMP
• 1999-12-06 Listed $37,500 REALCOMP

Property tax history

-0.3%/yr

Latest (2025): $1,026 · +201.8% YoY. Source: county tax records.