12127 Prairie St · Detroit, MI 48204

$33,900

4 bd · 2.0 ba · 1,900 sqft · Townhouse public records · 46 Days on market

Built 1928 3,920 sqft lot $18/sqft · 49% below area Est $67k · 49% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

LARGE BRICK COLONIAL STYLE MULTI-FAMILY INVESTMENT PROPERTY! BRING YOUR CONTRACTORS AND RESTORE THIS PROPERTY TO ITS GLORY! THIS WOULD MAKE A GREAT INVESTMENT PROPERTY OR CONVERT IT TO A SINGLE FAMILY. THIS PROPERTY FEATURES TWO UNITS, EACH WITH 2 BEDROOMS, 1 BATHROOM, SPACIOUS LIVING ROOM WITH FIREPLACE, FORMAL DINING ROOM, KITCHEN, AND GOOD SIZED ROOMS. BUYER IS RESPONSIBLE FOR SIGNING A REHAB AGREEMENT WITH THE LAND BANK. 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

• 3,920 sq ft lot
• Built 1928
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $34k.

Deal economics

• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $33k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.9% 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: 244 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1,390/mo this rent would consume 48% 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 $4k of equity ($234 loan paydown + $3k 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 13y 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 $3k; list at $34k implies a 943% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,883 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 4.10% ✓
• Cap rate: 34.87%
• Cash-on-cash: 102.06%
• DSCR: 5.54
• GRM: 2.0

CMA / ARV

• ARV (median comp): $66,816
• List price: $33,900
• Delta: -49.26%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.37×
• Total profit: $69,933
• Equity at exit: $30,540

10-year hold

• IRR: —
• Equity multiple: 18.45×
• Total profit: $165,620
• Equity at exit: $65,860

Cash invested: $9,492 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$178
• Tax from tax record: −$99 /mo · $1,184/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $807

Break-even live

Break-even rent $368

Max offer price $33,900

Occupancy floor 37%

Sensitivity live

Price	-10% $826	-5% $817	+0% $807	+5% $798	+10% $788
Rent	-10% $697	-5% $752	+0% $807	+5% $862	+10% $917
Rate	-1.0pp $824	-0.5pp $816	base $807	+0.5pp $798	+1.0pp $790

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: $8,475
• Closing costs: $1,017
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.41mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	45d	1	0.51mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	0.55mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	0.60mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	0.63mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	0.81mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.92mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.92mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	0.94mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	0.96mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.97mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	0.97mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.98mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	1.09mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.10mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.10mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	1.15mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	17d	1	1.23mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	25d	1	1.25mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.26mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	1.29mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.32mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	17d	1	1.39mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	1.44mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	1.50mi

Listing history 16 events

1. 2026-04-13
   listed $33,900 Active 626-char remark

   Show marketing remark (626 chars)

   LARGE BRICK COLONIAL STYLE MULTI-FAMILY INVESTMENT PROPERTY! BRING YOUR CONTRACTORS AND RESTORE THIS PROPERTY TO ITS GLORY! THIS WOULD MAKE A GREAT INVESTMENT PROPERTY OR CONVERT IT TO A SINGLE FAMILY. THIS PROPERTY FEATURES TWO UNITS, EACH WITH 2 BEDROOMS, 1 BATHROOM, SPACIOUS LIVING ROOM WITH FIREPLACE, FORMAL DINING ROOM, KITCHEN, AND GOOD SIZED ROOMS. BUYER IS RESPONSIBLE FOR SIGNING A REHAB AGREEMENT WITH THE LAND BANK. 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.

2. 2026-04-13
   listed $33,900 Active 626-char remark

   Show marketing remark (626 chars)

   LARGE BRICK COLONIAL STYLE MULTI-FAMILY INVESTMENT PROPERTY! BRING YOUR CONTRACTORS AND RESTORE THIS PROPERTY TO ITS GLORY! THIS WOULD MAKE A GREAT INVESTMENT PROPERTY OR CONVERT IT TO A SINGLE FAMILY. THIS PROPERTY FEATURES TWO UNITS, EACH WITH 2 BEDROOMS, 1 BATHROOM, SPACIOUS LIVING ROOM WITH FIREPLACE, FORMAL DINING ROOM, KITCHEN, AND GOOD SIZED ROOMS. BUYER IS RESPONSIBLE FOR SIGNING A REHAB AGREEMENT WITH THE LAND BANK. 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.

3. 2026-03-01
   historical
4. 2026-03-01
   historical
5. 2025-11-18
   listed $36,000 Active
6. 2025-11-18
   listed $36,000 Active
7. 2025-08-01
   historical
8. 2025-08-01
   historical
9. 2025-05-08
   listed $45,900 Active
10. 2025-05-08
    listed $45,900 Active
11. 2014-04-30
    soldstatus $3,250
12. 2014-04-30
    soldstatus $3,250
13. 2014-04-21
    listed $3,750
14. 2014-04-21
    listed $3,750
15. 2014-03-31
    historical
16. 2013-12-31
    listed $5,000

ⓘ 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: $1,184 · $99/mo
• Projected year-2 tax: $1,184 · $99/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,675
• − Mortgage interest: −$1,899
• − Property taxes: −$1,184
• − Insurance: −$170
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$986
• Taxable income: $9,769
• Est. tax owed @ 24.0%: −$2,345
• After-tax cash flow: $7,343/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

+578.0% since first listed

16 events — show timeline

• 2026-04-13 Listed $33,900 REALCOMP
• 2026-04-13 Listed $33,900 MiRealSource-MiMLS
• 2026-03-01 Listing Removed — REALCOMP
• 2026-03-01 Listing Removed — MiRealSource-MiMLS
• 2025-11-18 Listed $36,000 MiRealSource-MiMLS
• 2025-11-18 Listed $36,000 REALCOMP
• 2025-08-01 Listing Removed — REALCOMP
• 2025-08-01 Listing Removed — MiRealSource-MiMLS
• 2025-05-08 Listed $45,900 REALCOMP
• 2025-05-08 Listed $45,900 MiRealSource-MiMLS
• 2014-04-30 Sold (MLS) $3,250 REALCOMP
• 2014-04-30 Sold (MLS) $3,250 MiRealSource-MiMLS
• 2014-04-21 Listed $3,750 REALCOMP
• 2014-04-21 Listed $3,750 MiRealSource-MiMLS
• 2014-03-31 Listing Removed — MiRealSource-MiMLS
• 2013-12-31 Listed $5,000 MiRealSource-MiMLS

Property tax history

+10.1%/yr

Latest (2025): $1,184 · -48.1% YoY. Source: county tax records.