12145 Stout St · Detroit, MI 48228

$69,000

3 bd · 1.0 ba · 846 sqft · SingleFamily public records · 42 Days on market

Built 1946 4,792 sqft lot $82/sqft · 34% above area Est $52k · 34% 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
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

COZY BUNGALOW HOME LOCATED NORTH OF PLYMOUTH ORAD AND WEST OF EVERGREEN. LOTS OF RENT READY WORK DONE ON THIS HOME, BRING THE FINISHING TOUCHES AND MOVE IN OR RENT OUT! THIS PROPERTY FEATURES A 1 CAR DETACHED GARAGE, COVERED FRONT PORCH, INVITING LIVING ROOM, EAT IN KITCHEN WITH SOME UPDATES, FRESH PAINT THROUGHOUT, CARPETS CLEANED, TWO BEDROOMS AND BATHROOM ON THE MAIN FLOOR, SPRAWLING PRIMARY BEDROOM UPSTAIRS, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1946

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry; Aluminum siding
• Construction: Block foundation
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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 $1,205/mo this rent would consume 47% of the median local household income ($31k/yr) (locally 4144% 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 $477 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 + 0.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 26y 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 $20k; list at $69k implies a 245% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1946 — 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: 1.75% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.50%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $51,530
• List price: $69,000
• Delta: 33.90%
• 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
12219 Stout St	0.04mi	3/1.0	846 (0%)	1mo	$25,000	$30	97
11792 Burt Rd	0.31mi	2/1.0 (-1)	810 (-4%)	4mo	$27,000	$33	70
12087 Heyden St	0.09mi	3/1.0	956 (+13%)	5mo	$46,000	$48	70
13500 Heyden St	0.55mi	2/1.0 (-1)	850 (+0%)	4mo	$20,000	$24	65
11329 Minock St	0.57mi	3/1.0	816 (-4%)	4mo	$50,000	$61	64
11720 Minock St	0.44mi	3/1.5	771 (-9%)	5mo	$95,000	$123	58
11689 Minock St	0.43mi	3/1.0	950 (+12%)	6mo	$82,000	$86	54
11700 Auburn St	0.39mi	3/1.5	964 (+14%)	3mo	$55,000	$57	54
9634 Evergreen Ave	0.69mi	3/1.0	912 (+8%)	3mo	$23,000	$25	52
11419 Braile St	0.40mi	2/1.0 (-1)	969 (+14%)	2mo	$45,000	$46	51
9616 Braile St	0.69mi	3/1.0	958 (+13%)	4mo	$41,500	$43	42
9581 Heyden St	0.71mi	3/2.0	950 (+12%)	4mo	$92,000	$97	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.80×
• Total profit: $15,552
• Equity at exit: $10,288

10-year hold

• IRR: 26.6%
• Equity multiple: 3.01×
• Total profit: $38,918
• Equity at exit: $5,966

Cash invested: $19,320 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $475

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 56%

Sensitivity live

Price	-10% $523	-5% $499	+0% $475	+5% $451	+10% $427
Rent	-10% $380	-5% $427	+0% $475	+5% $522	+10% $570
Rate	-1.0pp $510	-0.5pp $492	base $475	+0.5pp $457	+1.0pp $439

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.14mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	44d	1	0.23mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	44d	1	0.56mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	44d	1	0.68mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.78mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.78mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.80mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.80mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.80mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.81mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.81mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.81mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.81mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.81mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	44d	1	0.84mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.87mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.87mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.88mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.88mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.88mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	44d	1	0.89mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	25d	1	0.90mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	44d	6	0.90mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	0.94mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	0.97mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	17d	1	0.99mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.02mi
12850 Dolphin St Detroit, MI	1.0–2.0	1.0	746	$999	$1.34	5d	4	1.03mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	44d	1	1.06mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.11mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.11mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	44d	1	1.11mi
9059 Burt Rd Detroit, MI	3.0	1.0	980	$1,400	$1.43	44d	1	1.14mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	1.16mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	1.19mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	1.22mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	17d	1	1.25mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.25mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	44d	1	1.31mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	1.35mi

Listing history 34 events

1. 2026-06-18
   days on market $69,000 Active 42 DOM
2. 2026-06-17
   days on market $69,000 Active 41 DOM
3. 2026-06-15
   days on market $69,000 Active 39 DOM
4. 2026-06-13
   days on market $69,000 Active 37 DOM
5. 2026-06-13
   days on market $69,000 Active 36 DOM
6. 2026-06-09
   days on market $69,000 Active 33 DOM
7. 2026-06-08
   days on market $69,000 Active 32 DOM
8. 2026-06-07
   days on market $69,000 Active 31 DOM
9. 2026-06-04
   days on market $69,000 Active 28 DOM
10. 2026-06-03
    days on market $69,000 Active 27 DOM
11. 2026-06-02
    days on market $69,000 Active 26 DOM
12. 2026-06-01
    days on market $69,000 Active 25 DOM
13. 2026-05-31
    days on market $69,000 Active 24 DOM
14. 2026-05-07
    listed $69,000 Active 641-char remark

    Show marketing remark (641 chars)

    COZY BUNGALOW HOME LOCATED NORTH OF PLYMOUTH ORAD AND WEST OF EVERGREEN. LOTS OF RENT READY WORK DONE ON THIS HOME, BRING THE FINISHING TOUCHES AND MOVE IN OR RENT OUT! THIS PROPERTY FEATURES A 1 CAR DETACHED GARAGE, COVERED FRONT PORCH, INVITING LIVING ROOM, EAT IN KITCHEN WITH SOME UPDATES, FRESH PAINT THROUGHOUT, CARPETS CLEANED, TWO BEDROOMS AND BATHROOM ON THE MAIN FLOOR, SPRAWLING PRIMARY BEDROOM UPSTAIRS, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

15. 2026-05-07
    listed $69,000 Active 641-char remark

    Show marketing remark (641 chars)

    COZY BUNGALOW HOME LOCATED NORTH OF PLYMOUTH ORAD AND WEST OF EVERGREEN. LOTS OF RENT READY WORK DONE ON THIS HOME, BRING THE FINISHING TOUCHES AND MOVE IN OR RENT OUT! THIS PROPERTY FEATURES A 1 CAR DETACHED GARAGE, COVERED FRONT PORCH, INVITING LIVING ROOM, EAT IN KITCHEN WITH SOME UPDATES, FRESH PAINT THROUGHOUT, CARPETS CLEANED, TWO BEDROOMS AND BATHROOM ON THE MAIN FLOOR, SPRAWLING PRIMARY BEDROOM UPSTAIRS, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

16. 2022-01-10
    historical
17. 2022-01-10
    historical
18. 2021-12-02
    listed $32,500 Active
19. 2021-12-02
    listed $32,500 Active
20. 2021-05-15
    historical
21. 2020-06-16
    historical
22. 2020-05-15
    listed $40,000
23. 2020-03-22
    listed $40,000
24. 2019-11-01
    historical
25. 2019-10-31
    historical
26. 2019-06-26
    listed $39,900 Active
27. 2019-06-26
    listed $39,900 Active
28. 2018-11-01
    soldstatus $20,000
29. 2001-08-23
    soldstatus $42,500
30. 2001-05-29
    soldstatus $42,500
31. 2001-04-16
    listed $44,900
32. 2000-12-31
    historical
33. 2000-09-20
    listed $44,900
34. 1998-08-13
    soldstatus $7,500

ⓘ 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 ≥99°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: $14,457
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,007
• Taxable income: $4,891
• Est. tax owed @ 24.0%: −$1,174
• After-tax cash flow: $4,525/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+820.0% since first listed

21 events — show timeline

• 2026-05-07 Listed $69,000 REALCOMP
• 2026-05-07 Listed $69,000 MiRealSource-MiMLS
• 2022-01-10 Listing Removed — REALCOMP
• 2022-01-10 Listing Removed — MiRealSource-MiMLS
• 2021-12-02 Listed $32,500 MiRealSource-MiMLS
• 2021-12-02 Listed $32,500 REALCOMP
• 2021-05-15 Listing Removed — REALCOMP
• 2020-06-16 Listing Removed — MiRealSource-MiMLS
• 2020-05-15 Listed $40,000 REALCOMP
• 2020-03-22 Listed $40,000 MiRealSource-MiMLS
• 2019-11-01 Listing Removed — REALCOMP
• 2019-10-31 Listing Removed — MiRealSource-MiMLS
• 2019-06-26 Listed $39,900 MiRealSource-MiMLS
• 2019-06-26 Listed $39,900 REALCOMP
• 2018-11-01 Sold (Public Records) $20,000 Public Records
• 2001-08-23 Sold (Public Records) $42,500 Public Records
• 2001-05-29 Sold (MLS) $42,500 REALCOMP
• 2001-04-16 Listed $44,900 REALCOMP
• 2000-12-31 Listing Removed — REALCOMP
• 2000-09-20 Listed $44,900 REALCOMP
• 1998-08-13 Sold (Public Records) $7,500 Public Records

Property tax history

+9.4%/yr

Latest (2025): $3,918 · +98.2% YoY. Source: county tax records.