8123 E Lafayette St · Detroit, MI 48214

$169,900

12 bd · 1.5 ba · 2,286 sqft · SingleFamily public records

Built 1905 3,920 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• 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

Subject to sheriff deed redemption

Key facts

• 3,920 sq ft lot
• Built 1905

What this means for you Summary

Snapshot

• This is a 12-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 7.9% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 298 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,781/mo this rent would consume 64% of the median local household income ($34k/yr) (locally 1364% 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 $5k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 2y 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: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-12,662
• Equity at exit: $25,333

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $8,194
• Equity at exit: $14,690

Cash invested: $47,572 (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 48214

• Active inventory: 298
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,781 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $233

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 82%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-05-13
   historical 34-char remark

   Show marketing remark (34 chars)

   Subject to sheriff deed redemption

2. 2026-05-13
   listed $169,900 34-char remark

   Show marketing remark (34 chars)

   Subject to sheriff deed redemption

3. 2026-05-13
   historical

   Show marketing remark (34 chars)

   Subject to sheriff deed redemption

4. 2026-05-13
   listed $169,900

   Show marketing remark (34 chars)

   Subject to sheriff deed redemption

5. 2026-01-16
   historical
6. 2025-11-13
   status Active
7. 2025-11-13
   status Active
8. 2025-10-02
   status Pending
9. 2025-10-02
   status Pending
10. 2025-10-02
    historical
11. 2025-08-23
    listed $250,000 Active
12. 2025-08-23
    listed $250,000 Active
13. 2025-08-07
    historical
14. 2025-07-23
    price $249,000
15. 2025-07-23
    price $250,000
16. 2025-07-23
    price $249,000
17. 2025-07-22
    status Active
18. 2025-07-22
    status Active
19. 2025-07-01
    price $300,000
20. 2025-07-01
    price $300,000
21. 2025-07-01
    historical
22. 2025-05-30
    listed $345,000 Active
23. 2025-05-29
    listed $345,000 Active
24. 2025-05-20
    historical
25. 2025-05-20
    historical
26. 2024-12-07
    price $370,000
27. 2024-12-07
    price $370,000
28. 2024-12-04
    price $385,000
29. 2024-12-03
    price $385,000
30. 2024-12-03
    status Active
31. 2024-12-03
    status Active
32. 2024-11-05
    historical
33. 2024-11-05
    historical
34. 2024-10-13
    listed $379,000 Active
35. 2024-10-13
    listed $379,000 Active
36. 2018-04-11
    soldstatus $525,000

ⓘ 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 ≥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: $21,375
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − Depreciation: −$4,943
• Taxable income: $97
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $2,773/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

-67.6% since first listed

36 events — show timeline

• 2026-05-13 Listed $169,900 REALCOMP
• 2026-05-13 Listing Removed — REALCOMP
• 2026-05-13 Listed $169,900 MiRealSource-MiMLS
• 2026-05-13 Listing Removed — MiRealSource-MiMLS
• 2026-01-16 Listing Removed — MiRealSource-MiMLS
• 2025-11-13 Relisted — MiRealSource-MiMLS
• 2025-11-13 Relisted — REALCOMP
• 2025-10-02 Pending — MiRealSource-MiMLS
• 2025-10-02 Pending — REALCOMP
• 2025-10-02 Listing Removed — REALCOMP
• 2025-08-23 Listed $250,000 REALCOMP
• 2025-08-23 Listed $250,000 MiRealSource-MiMLS
• 2025-08-07 Listing Removed — MiRealSource-MiMLS
• 2025-07-23 Price Changed $249,000 MiRealSource-MiMLS
• 2025-07-23 Price Changed $250,000 MiRealSource-MiMLS
• 2025-07-23 Price Changed $249,000 REALCOMP
• 2025-07-22 Relisted — MiRealSource-MiMLS
• 2025-07-22 Relisted — REALCOMP
• 2025-07-01 Price Changed $300,000 MiRealSource-MiMLS
• 2025-07-01 Price Changed $300,000 REALCOMP
• 2025-07-01 Listing Removed — MiRealSource-MiMLS
• 2025-05-30 Listed $345,000 REALCOMP
• 2025-05-29 Listed $345,000 MiRealSource-MiMLS
• 2025-05-20 Listing Removed — REALCOMP
• 2025-05-20 Listing Removed — MiRealSource-MiMLS
• 2024-12-07 Price Changed $370,000 MiRealSource-MiMLS
• 2024-12-07 Price Changed $370,000 REALCOMP
• 2024-12-04 Price Changed $385,000 MiRealSource-MiMLS
• 2024-12-03 Price Changed $385,000 REALCOMP
• 2024-12-03 Relisted — MiRealSource-MiMLS
• 2024-12-03 Relisted — REALCOMP
• 2024-11-05 Listing Removed — REALCOMP
• 2024-11-05 Listing Removed — MiRealSource-MiMLS
• 2024-10-13 Listed $379,000 REALCOMP
• 2024-10-13 Listed $379,000 MiRealSource-MiMLS
• 2018-04-11 Sold (Public Records) $525,000 Public Records

Property tax history

+13.9%/yr

Latest (2025): $10,272 · -61.1% YoY. Source: county tax records.