11731 Washburn St · Detroit, MI 48204

$98,000

4 bd · 2.0 ba · 2,142 sqft · Townhouse public records · 37 Days on market

Built 1928 3,485 sqft lot $46/sqft · 33% above area Est $74k · 33% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• 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

Listing remarks MLS

Ready for a new family or investor! This is a vacant property. Strictly "SOLD AS IS" this is a project property , no repairs or cleaning will be done. located on the Detroit city, West Side neighborhood. Conveniently located at a walking distance to Public Transportation : bus lines 3, 54, and 38! Bring your ideas, imagination, and contractor. Vision this investment property at it's best, with room to grow. For a quick re-sale, or a long term rental. This property is a must see. High rental demand area. Great cash flow focus on rentability. Buyer Agent To Verify All Dimensions Requirements.

Key facts

• 3,485 sq ft lot
• Built 1928
• Listed 36 days

Tags

• WEST SIDE NEIGHBORHOOD
• HIGH RENTAL DEMAND AREA
• CASH FLOW FOCUS ON RENTABILITY

Property features AI

Finance

• Other: Pets: contact listing agent

Exterior

• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Multi-family residential income property; Brick construction; Two stories
• Construction: Brick exterior
• Exterior features: Paved road access; Residential zoning

Interior

• Bedrooms: Two 2-bedroom units (partially furnished)
• Bathrooms: One full bathroom in each unit (total 2 full bathrooms)
• Heating & cooling: Forced air heating with natural gas; No central cooling
• Interior features: Unfinished basement with sump pump; Two-level living

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $98k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $95k (3.0% 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: 244 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,415/mo this rent would consume 49% 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 $10k of equity ($678 loan paydown + $10k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y 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 $29k; list at $98k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1928 — 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: 1.44% ✓
• Cap rate: 11.69%
• Cash-on-cash: 19.27%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

• ARV (median comp): $73,940
• List price: $98,000
• Delta: 32.54%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 38.6%
• Equity multiple: 3.97×
• Total profit: $81,464
• Equity at exit: $88,286

10-year hold

• IRR: 33.3%
• Equity multiple: 8.94×
• Total profit: $217,868
• Equity at exit: $190,392

Cash invested: $27,440 (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: 244
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,415 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $441

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 64%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	24d	1	0.46mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.51mi
9209 Pinehurst St Detroit, MI	3.0	1.0	1589	$1,500	$0.94	44d	1	0.90mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.19mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	1.23mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	1.34mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	20d	1	1.38mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	1.39mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.42mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	5d	1	1.47mi

Listing history 37 events

1. 2026-06-18
   days on market $98,000 Active 37 DOM
2. 2026-06-17
   days on market $98,000 Active 36 DOM
3. 2026-06-15
   days on market $98,000 Active 34 DOM
4. 2026-06-13
   days on market $98,000 Active 32 DOM
5. 2026-06-13
   days on market $98,000 Active 31 DOM
6. 2026-06-09
   days on market $98,000 Active 28 DOM
7. 2026-06-08
   days on market $98,000 Active 27 DOM
8. 2026-06-07
   days on market $98,000 Active 26 DOM
9. 2026-06-04
   days on market $98,000 Active 23 DOM
10. 2026-06-03
    days on market $98,000 Active 22 DOM
11. 2026-06-02
    days on market $98,000 Active 21 DOM
12. 2026-06-01
    days on market $98,000 Active 20 DOM
13. 2026-05-31
    days on market $98,000 Active 19 DOM
14. 2026-05-12
    listed $98,000 Active 608-char remark

    Show marketing remark (607 chars)

    Ready for a new family or investor! This is a vacant property. Strictly "SOLD AS IS" this is a project property , no repairs or cleaning will be done. located on the Detroit city, West Side neighborhood. Conveniently located at a walking distance to Public Transportation : bus lines 3, 54, and 38! Bring your ideas, imagination, and contractor. Vision this investment property at it's best, with room to grow. For a quick re-sale, or a long term rental. This property is a must see. High rental demand area. Great cash flow focus on rentability. Buyer Agent To Verify All Dimensions Requirements.

15. 2026-05-12
    listed $98,000 Active 607-char remark

    Show marketing remark (607 chars)

    Ready for a new family or investor! This is a vacant property. Strictly "SOLD AS IS" this is a project property , no repairs or cleaning will be done. located on the Detroit city, West Side neighborhood. Conveniently located at a walking distance to Public Transportation : bus lines 3, 54, and 38! Bring your ideas, imagination, and contractor. Vision this investment property at it's best, with room to grow. For a quick re-sale, or a long term rental. This property is a must see. High rental demand area. Great cash flow focus on rentability. Buyer Agent To Verify All Dimensions Requirements.

16. 2026-04-16
    historical
17. 2026-04-16
    historical
18. 2026-01-26
    listed $119,900 Active
19. 2026-01-26
    listed $119,900 Active
20. 2026-01-09
    historical
21. 2026-01-09
    historical
22. 2025-10-15
    listed $125,000 Active
23. 2025-10-15
    listed $125,000 Active
24. 2022-07-13
    soldstatus $29,000 Sold
25. 2022-07-13
    soldstatus $29,000 Closed
26. 2022-07-06
    status Pending
27. 2022-07-06
    status Pending
28. 2022-06-03
    status Active
29. 2022-06-03
    status Active
30. 2022-04-27
    status Pending
31. 2022-04-27
    status Pending
32. 2022-04-23
    price $39,900
33. 2022-04-22
    price $39,900
34. 2022-03-11
    price $49,900
35. 2022-03-11
    price $49,900
36. 2022-02-07
    listed $59,900 Active
37. 2022-02-07
    listed $59,900 Active

ⓘ 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 ≥97°F today · 14 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: $16,982
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$2,851
• Taxable income: $3,964
• Est. tax owed @ 24.0%: −$951
• After-tax cash flow: $4,337/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

+63.6% since first listed

24 events — show timeline

• 2026-05-12 Listed $98,000 MiRealSource-MiMLS
• 2026-05-12 Listed $98,000 REALCOMP
• 2026-04-16 Listing Removed — MiRealSource-MiMLS
• 2026-04-16 Listing Removed — REALCOMP
• 2026-01-26 Listed $119,900 REALCOMP
• 2026-01-26 Listed $119,900 MiRealSource-MiMLS
• 2026-01-09 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2025-10-15 Listed $125,000 MiRealSource-MiMLS
• 2025-10-15 Listed $125,000 REALCOMP
• 2022-07-13 Sold (MLS) $29,000 MiRealSource-MiMLS
• 2022-07-13 Sold (MLS) $29,000 REALCOMP
• 2022-07-06 Pending — MiRealSource-MiMLS
• 2022-07-06 Pending — REALCOMP
• 2022-06-03 Relisted — MiRealSource-MiMLS
• 2022-06-03 Relisted — REALCOMP
• 2022-04-27 Pending — MiRealSource-MiMLS
• 2022-04-27 Pending — REALCOMP
• 2022-04-23 Price Changed $39,900 MiRealSource-MiMLS
• 2022-04-22 Price Changed $39,900 REALCOMP
• 2022-03-11 Price Changed $49,900 MiRealSource-MiMLS
• 2022-03-11 Price Changed $49,900 REALCOMP
• 2022-02-07 Listed $59,900 MiRealSource-MiMLS
• 2022-02-07 Listed $59,900 REALCOMP

Property tax history

+17.7%/yr

Latest (2025): $5,488 · +5.7% YoY. Source: county tax records.