11795 Promenade St · Detroit, MI 48213

$105,000

3 bd · 1.0 ba · 1,473 sqft · SingleFamily public records · 248 Days on market

Built 1925 3,485 sqft lot $71/sqft · 22% above area Est $86k · 22% 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

Home located in Detroit, on the city's west side. !!!

Key facts

• 3,485 sq ft lot
• Built 1925
• Listed 247 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% 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: 192 active listings in the ZIP; 23 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 $1,359/mo this rent would consume 48% of the median local household income ($34k/yr) (locally 1202% 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 $726 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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 $90k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.60%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (median comp): $85,811
• List price: $105,000
• Delta: 22.36%
• 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
11824 Wilshire Dr	0.11mi	3/1.5	1,400 (-5%)	9mo	$77,400	$55	77
12304 Rosemary St	0.36mi	3/1.5	1,480 (+0%)	6mo	$22,000	$15	76
12328 Longview St	0.44mi	4/1.0 (+1)	1,400 (-5%)	1mo	$85,000	$61	65
12027 Kilbourne Ave	0.23mi	4/1.5 (+1)	1,561 (+6%)	10mo	$137,000	$88	64
12572 Rosemary St	0.48mi	4/1.0 (+1)	1,419 (-4%)	10mo	$84,000	$59	58
12091 Kilbourne St	0.27mi	3/1.0	1,650 (+12%)	13mo	$126,000	$76	57
11833 Wilfred St	0.33mi	4/1.5 (+1)	1,340 (-9%)	8mo	$100,000	$75	56
12737 Promenade St	0.59mi	4/2.0 (+1)	1,440 (-2%)	7mo	$50,000	$35	54
12223 Corbett St	0.44mi	3/1.0	1,658 (+13%)	12mo	$80,000	$48	48
12590 Rosemary St	0.50mi	3/1.5	1,632 (+11%)	12mo	$41,501	$25	46
13004 Rosemary St	0.72mi	4/2.0 (+1)	1,503 (+2%)	15mo	$62,000	$41	42
12816 Rosemary St	0.68mi	3/2.0	1,659 (+13%)	4mo	$131,000	$79	40

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: 6.4%
• Equity multiple: 1.25×
• Total profit: $7,321
• Equity at exit: $15,656

10-year hold

• IRR: 15.8%
• Equity multiple: 2.28×
• Total profit: $37,710
• Equity at exit: $9,078

Cash invested: $29,400 (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 48213

• Active inventory: 192
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,359 high
• Mortgage (P&I): −$551
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $382

Break-even live

Break-even rent $875

Max offer price $105,000

Occupancy floor 67%

Sensitivity live

Price	-10% $442	-5% $412	+0% $382	+5% $352	+10% $323
Rent	-10% $275	-5% $328	+0% $382	+5% $436	+10% $489
Rate	-1.0pp $435	-0.5pp $409	base $382	+0.5pp $355	+1.0pp $327

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	0.11mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	0.14mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	15d	1	0.31mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	0.34mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	0.34mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	18d	1	0.66mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.67mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	19d	1	0.71mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	0.84mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	6d	1	0.84mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	0.86mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.87mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	44d	1	0.91mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	44d	1	0.98mi
11074 Kennebec St Detroit, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.15mi
17241 Rowe St Detroit, MI	3.0	1.5	1316	$1,450	$1.10	18d	1	1.23mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	1.23mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.29mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	1.29mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	1.33mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	18d	1	1.39mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	19d	1	1.41mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.42mi

Listing history 32 events

1. 2026-06-21
   days on market $105,000 Active 248 DOM
2. 2026-06-18
   days on market $105,000 Active 245 DOM
3. 2026-06-17
   remarks 681-char remark
4. 2026-06-17
   days on market $105,000 Active 244 DOM
5. 2026-06-15
   days on market $105,000 Active 242 DOM
6. 2026-06-13
   days on market $105,000 Active 240 DOM
7. 2026-06-13
   days on market $105,000 Active 239 DOM
8. 2026-06-09
   days on market $105,000 Active 236 DOM
9. 2026-06-08
   days on market $105,000 Active 235 DOM
10. 2026-06-07
    days on market $105,000 Active 234 DOM
11. 2026-06-04
    days on market $105,000 Active 231 DOM
12. 2026-06-03
    days on market $105,000 Active 230 DOM
13. 2026-06-01
    days on market $105,000 Active 228 DOM
14. 2026-05-31
    days on market $105,000 Active 227 DOM
15. 2026-02-20
    price $105,000 53-char remark

    Show marketing remark (53 chars)

    Home located in Detroit, on the city's west side. !!!

16. 2026-02-19
    price $105,000 53-char remark

    Show marketing remark (53 chars)

    Home located in Detroit, on the city's west side. !!!

17. 2025-10-16
    listed $110,000 Active 53-char remark

    Show marketing remark (53 chars)

    Home located in Detroit, on the city's west side. !!!

18. 2025-10-16
    listed $110,000 Active 53-char remark

    Show marketing remark (53 chars)

    Home located in Detroit, on the city's west side. !!!

19. 2022-01-13
    soldstatus $89,900
20. 2015-01-02
    historical
21. 2014-12-31
    historical
22. 2014-08-14
    listed $2,000 Active
23. 2014-08-14
    listed $2,000
24. 2008-04-18
    soldstatus $2,500
25. 2008-03-26
    listed $2,800
26. 2008-03-24
    historical
27. 2008-03-10
    listed $2,800
28. 2008-03-06
    historical
29. 2007-12-06
    listed $7,760
30. 2007-11-29
    historical
31. 2007-08-29
    listed $7,760
32. 2006-03-06
    soldstatus $80,000

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,391 · $116/mo
• Expected delta: +$226/yr (+$19/mo · 19.4%)

ⓘ 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: $16,307
• − Mortgage interest: −$5,882
• − Property taxes: −$1,164
• − Insurance: −$525
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$3,055
• Taxable income: $3,072
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,848/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+31.2% since first listed

18 events — show timeline

• 2026-02-20 Price Changed $105,000 MiRealSource-MiMLS
• 2026-02-19 Price Changed $105,000 REALCOMP
• 2025-10-16 Listed $110,000 REALCOMP
• 2025-10-16 Listed $110,000 MiRealSource-MiMLS
• 2022-01-13 Sold (Public Records) $89,900 Public Records
• 2015-01-02 Listing Removed — REALCOMP
• 2014-12-31 Listing Removed — MiRealSource-MiMLS
• 2014-08-14 Listed $2,000 MiRealSource-MiMLS
• 2014-08-14 Listed $2,000 REALCOMP
• 2008-04-18 Sold (MLS) $2,500 REALCOMP
• 2008-03-26 Listed $2,800 REALCOMP
• 2008-03-24 Listing Removed — REALCOMP
• 2008-03-10 Listed $2,800 REALCOMP
• 2008-03-06 Listing Removed — REALCOMP
• 2007-12-06 Listed $7,760 REALCOMP
• 2007-11-29 Listing Removed — REALCOMP
• 2007-08-29 Listed $7,760 REALCOMP
• 2006-03-06 Sold (Public Records) $80,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,164 · -8.7% YoY. Source: county tax records.