12061 Wade St · Detroit, MI 48213

$89,000

3 bd · 1.5 ba · 1,558 sqft · SingleFamily public records · 5 Days on market

Built 1926 3,920 sqft lot $57/sqft · 51% above area

---

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
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-Bedroom Bungalow in Ravendale – Move-In Ready Opportunity at $89,000! Welcome home to 12061 Wade St, Detroit, MI 48213 – a well-maintained single-family bungalow built in 1926 that offers classic Detroit character with modern comfort. This inviting home features 3 bedrooms, 2 full bathrooms, and approximately 1,468 sq ft of living space on a nice 3,920 sq ft lot. Beautiful front porch perfect for relaxing evenings and great curb appeal with a white exterior and driveway. Spacious first-floor bedroom with walk-in closet. Updated bathroom with stylish glass block wall and modern fixtures. Knotty pine kitchen with wooden cabinets and tiled floors. Convenient location near Chandler Park Golf Course, major highways (I-94), restaurants, shops, and everyday amenities. Located in the Ravendale neighborhood, this home puts you close to the Detroit River, green spaces, and all the city has to offer while providing a quiet, grounded residential feel. Ideal for first-time homebuyers, investors, or families looking for value in a solid Detroit community. Priced to sell at just $89,000 – this is your chance to own a piece of Detroit!!!

Key facts

• Front porch
• Knotty pine kitchen
• Convenient location

Tags

• FRONT PORCH
• KNOTTY PINE KITCHEN
• UPDATED BATHROOM
• RAVENDALE NEIGHBORHOOD
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Listing broker: Munoz Realty Inc

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot roughly 35 x 110 (0.09 acres); Subdivision: Ravendale Sub

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).

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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1,417/mo this rent would consume 50% 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 $615 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.59% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.40%
• DSCR: 1.91
• GRM: 5.2

CMA / ARV

• ARV (median comp): $55,466
• List price: $89,000
• Delta: 60.46%
• 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
12328 Longview St	0.32mi	4/1.0 (+1)	1,400 (-10%)	1mo	$85,000	$61	60
12280 Wade St	0.14mi	4/2.0 (+1)	1,750 (+12%)	8mo	$141,000	$81	59
12304 Rosemary St	0.61mi	3/1.5	1,480 (-5%)	6mo	$22,000	$15	59
11824 Wilshire Dr	0.38mi	3/1.5	1,400 (-10%)	9mo	$77,400	$55	58
12027 Kilbourne Ave	0.67mi	4/1.5 (+1)	1,561 (+0%)	10mo	$137,000	$88	55
12646 Longview St	0.46mi	3/1.5	1,750 (+12%)	7mo	$73,750	$42	52
5794 Dickerson St	0.74mi	3/1.0	1,467 (-6%)	4mo	$118,000	$80	50
6080 Beniteau St	0.50mi	4/2.5 (+1)	1,437 (-8%)	10mo	$185,000	$129	46
11235 Wade St	0.33mi	4/3.0 (+1)	1,785 (+15%)	5mo	$187,500	$105	45
12737 Promenade St	0.65mi	4/2.0 (+1)	1,440 (-8%)	7mo	$50,000	$35	44
12572 Rosemary St	0.66mi	4/1.0 (+1)	1,419 (-9%)	10mo	$84,000	$59	39
13134 corbett Corbett St	0.70mi	4/2.0 (+1)	1,407 (-10%)	9mo	$79,900	$57	37

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: 12.7%
• Equity multiple: 1.51×
• Total profit: $12,634
• Equity at exit: $13,270

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $46,037
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$467
• Tax from tax record: −$192 /mo · $2,305/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $424

Break-even live

Break-even rent $881

Max offer price $89,000

Occupancy floor 65%

Sensitivity live

Price	-10% $474	-5% $449	+0% $424	+5% $398	+10% $373
Rent	-10% $312	-5% $368	+0% $424	+5% $480	+10% $536
Rate	-1.0pp $469	-0.5pp $446	base $424	+0.5pp $401	+1.0pp $377

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	25d	1	0.37mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	18d	1	0.38mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	18d	1	0.56mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	0.72mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	44d	1	0.78mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	0.83mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	0.93mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.08mi
11760 Nashville St Detroit, MI	3.0	1.0	1200	$1,250	$1.04	18d	1	1.29mi
11785 Nashville St Detroit, MI	3.0	2.0	1360	$1,450	$1.07	4d	1	1.32mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	1.39mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	1.41mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.42mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.44mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	25d	1	1.45mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.46mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.47mi

Listing history 25 events

1. 2026-06-21
   days on market $89,000 Active 5 DOM
2. 2026-06-18
   days on market $89,000 Active 2 DOM
3. 2026-06-17
   remarks 687-char remark
4. 2026-06-17
   days on marketlisting id $89,000 Active 1 DOM
5. 2026-06-15
   days on market $89,000 Active 201 DOM
6. 2026-06-13
   days on market $89,000 Active 199 DOM
7. 2026-06-13
   days on market $89,000 Active 198 DOM
8. 2026-06-09
   days on market $89,000 Active 195 DOM
9. 2026-06-08
   days on market $89,000 Active 194 DOM
10. 2026-06-07
    days on market $89,000 Active 193 DOM
11. 2026-06-04
    days on market $89,000 Active 190 DOM
12. 2026-06-03
    days on market $89,000 Active 189 DOM
13. 2026-06-01
    days on market $89,000 Active 187 DOM
14. 2026-05-31
    days on market $89,000 Active 186 DOM
15. 2026-05-12
    price $89,000 226-char remark
16. 2026-05-12
    price $89,000 226-char remark
17. 2025-11-25
    listed $96,000 Active 226-char remark
18. 2025-11-25
    listed $96,000 Active 226-char remark
19. 2021-08-05
    soldstatus $89,900
20. 2017-11-17
    soldstatus $11,500 Sold
21. 2017-11-17
    soldstatus $11,500 Closed
22. 2017-11-09
    status Pending
23. 2017-11-09
    status Pending
24. 2017-10-23
    listed $14,900 Active
25. 2017-10-23
    listed $14,900 Active

ⓘ 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: $2,305 · $192/mo
• Projected year-2 tax: $2,305 · $192/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 ≥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: $17,007
• − Mortgage interest: −$4,985
• − Property taxes: −$2,305
• − Insurance: −$445
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$2,589
• Taxable income: $3,961
• Est. tax owed @ 24.0%: −$951
• After-tax cash flow: $4,134/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

+497.3% since first listed

15 events — show timeline

• 2026-06-17 Listed $89,000 REALCOMP
• 2026-06-16 Listing Removed — REALCOMP
• 2026-06-16 Listing Removed — MiRealSource-MiMLS
• 2026-06-16 Listed $89,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $89,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $89,000 REALCOMP
• 2025-11-25 Listed $96,000 REALCOMP
• 2025-11-25 Listed $96,000 MiRealSource-MiMLS
• 2021-08-05 Sold (Public Records) $89,900 Public Records
• 2017-11-17 Sold (MLS) $11,500 MiRealSource-MiMLS
• 2017-11-17 Sold (MLS) $11,500 REALCOMP
• 2017-11-09 Pending — MiRealSource-MiMLS
• 2017-11-09 Pending — REALCOMP
• 2017-10-23 Listed $14,900 MiRealSource-MiMLS
• 2017-10-23 Listed $14,900 REALCOMP

Property tax history

+7.8%/yr

Latest (2025): $2,305 · +46.9% YoY. Source: county tax records.