12632 E Canfield St · Detroit, MI 48215

$45,000

2 bd · 1.0 ba · 1,052 sqft · SingleFamily public records · 13 Days on market

Built 1922 4,792 sqft lot Est $60k · 25% under ↓ 36% since listing

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +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
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this spacious 2-bedroom Detroit farmhouse, thoughtfully updated and truly move-in ready. Blending modern comfort with timeless charm, this home features an inviting Florida room - perfect for relaxing or entertaining with friends and family. Sunlight fills the interior through the many windows, creating a bright and welcoming atmosphere. Don't wait - schedule your showing today!

Key facts

• Many windows
• Florida room
• 4,792 sq ft lot

Tags

• FLORIDA ROOM
• MANY WINDOWS

Property features AI

Finance

• Other: Residential property in DE BUCKS SUB subdivision; Located east of Conner St and north of Waveney St (between Algonquin and Anderson)
• Financial info: Not specified
• HOA & community: Not specified

Exterior

• Parking: No garage
• Security: Not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot dimensions approximately 30 x 156.5 (0.11 acres); No pool

Interior

• Kitchen: Not specified
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Five total rooms
• Laundry & utility: Has heating system

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 21.1% 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: 137 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 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: property tax is 2.6% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1922 — 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: 2.55% ✓
• Cap rate: 21.09%
• Cash-on-cash: 52.86%
• DSCR: 3.35
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $59,964
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4194 Algonquin St	0.18mi	3/1.0 (+1)	1,040 (-1%)	5mo	$69,000	$66	81
4315 Algonquin St	0.11mi	3/1.0 (+1)	1,040 (-1%)	10mo	$59,500	$57	79
3964 Lenox St	0.39mi	2/1.0	1,100 (+5%)	4mo	$55,000	$50	71
4133 Lenox St	0.34mi	3/1.0 (+1)	968 (-8%)	5mo	$18,101	$19	62
3958 Lenox St	0.40mi	3/1.0 (+1)	1,024 (-3%)	14mo	$60,000	$59	60
4809 Maynard St	0.24mi	3/1.0 (+1)	1,136 (+8%)	20mo	$45,000	$40	54
4159 Springle St	0.22mi	3/1.0 (+1)	917 (-13%)	14mo	$54,000	$59	52
5069 Eastlawn St	0.58mi	3/1.0 (+1)	1,101 (+5%)	22mo	$43,000	$39	42
3416 Algonquin St	0.50mi	3/1.0 (+1)	967 (-8%)	21mo	$90,000	$93	41
5566 Lakeview St	0.73mi	3/1.0 (+1)	1,113 (+6%)	14mo	$83,000	$75	40
3111 Lenox St	0.55mi	3/1.0 (+1)	1,200 (+14%)	9mo	$25,000	$21	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.9%
• Equity multiple: 3.23×
• Total profit: $28,099
• Equity at exit: $6,710

10-year hold

• IRR: 56.3%
• Equity multiple: 6.57×
• Total profit: $70,156
• Equity at exit: $3,891

Cash invested: $12,600 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,147 high
• Mortgage (P&I): −$236
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $555

Break-even live

Break-even rent $444

Max offer price $45,000

Occupancy floor 47%

Sensitivity live

Price	-10% $580	-5% $568	+0% $555	+5% $542	+10% $530
Rent	-10% $464	-5% $510	+0% $555	+5% $600	+10% $646
Rate	-1.0pp $578	-0.5pp $566	base $555	+0.5pp $543	+1.0pp $531

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5076 Chalmers St Unit 5074 Detroit, MI	1.0	1.0	700	$925	$1.32	24d	1	0.74mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	18d	1	0.84mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	44d	1	0.86mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	0.86mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.96mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.96mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.02mi
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	1.19mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.20mi
1367 Wayburn St Unit 1 Grosse Pointe Park, MI	3.0	1.0	816	$1,250	$1.53	44d	1	1.22mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	44d	1	1.22mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	18d	1	1.22mi
3954 Saint Clair St Unit 2 Detroit, MI	1.0	1.0	1080	$650	$0.60	12d	1	1.23mi
3049 Montclair St Unit 1 Detroit, MI	2.0	1.0	850	$950	$1.12	44d	1	1.23mi
14800 Vernor Hwy Unit 9 Detroit, MI	1.0	1.0	800	$900	$1.12	44d	1	1.25mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	24d	1	1.26mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	1.27mi
5025 Somerset Ave Detroit, MI	1.0	1.0	772	$900	$1.17	44d	1	1.29mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	15d	1	1.33mi
1314 Maryland St Grosse Pointe Park, MI	2.0	1.0	1008	$1,250	$1.24	44d	1	1.34mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	4d	1	1.35mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	22d	1	1.35mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	1.38mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	44d	1	1.38mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	1.39mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.42mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.44mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.45mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.46mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	1.46mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	44d	1	1.48mi

Listing history 10 events

1. 2026-06-18
   days on market $45,000 Active 13 DOM
2. 2026-06-17
   days on market $45,000 Active 12 DOM
3. 2026-06-16
   days on market $45,000 Active 11 DOM
4. 2026-06-15
   days on market $45,000 Active 10 DOM
5. 2026-06-13
   days on market $45,000 Active 8 DOM
6. 2026-06-13
   days on market $45,000 Active 7 DOM
7. 2026-06-09
   days on market $45,000 Active 4 DOM
8. 2026-06-08
   days on market $45,000 Active 3 DOM
9. 2026-06-07
   remarks 387-char remark
10. 2026-06-07
    listed $45,000 Active 2 DOM

ⓘ 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: $1,156 · $96/mo
• Projected year-2 tax: $1,156 · $96/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: $13,764
• − Mortgage interest: −$2,521
• − Property taxes: −$1,156
• − Insurance: −$225
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$1,309
• Taxable income: $6,350
• Est. tax owed @ 24.0%: −$1,524
• After-tax cash flow: $5,136/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

-35.7% since first listed

31 events — show timeline

• 2026-06-05 Listed $45,000 REALCOMP
• 2026-06-05 Listed $45,000 MiRealSource-MiMLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2026-01-13 Price Changed $50,000 MiRealSource-MiMLS
• 2026-01-13 Price Changed $50,000 REALCOMP
• 2025-12-03 Price Changed $55,000 MiRealSource-MiMLS
• 2025-12-02 Price Changed $55,000 REALCOMP
• 2025-10-04 Listed $58,000 MiRealSource-MiMLS
• 2025-10-04 Listed $58,000 REALCOMP
• 2025-09-09 Listing Removed — MiRealSource-MiMLS
• 2025-09-09 Listing Removed — REALCOMP
• 2025-09-05 Contingent — REALCOMP
• 2025-09-05 Contingent — MiRealSource-MiMLS
• 2025-05-28 Listed $59,999 MiRealSource-MiMLS
• 2025-05-28 Listed $59,999 REALCOMP
• 2025-03-06 Listing Removed — MiRealSource-MiMLS
• 2025-03-06 Listing Removed — REALCOMP
• 2024-11-19 Price Changed $68,000 MiRealSource-MiMLS
• 2024-11-18 Price Changed $68,000 REALCOMP
• 2024-10-02 Price Changed $75,000 MiRealSource-MiMLS
• 2024-10-01 Price Changed $75,000 REALCOMP
• 2024-09-18 Listed $80,000 MiRealSource-MiMLS
• 2024-09-18 Listed $80,000 REALCOMP
• 2024-09-16 Listing Removed — MiRealSource-MiMLS
• 2024-09-16 Listing Removed — REALCOMP
• 2024-05-01 Price Changed $80,000 MiRealSource-MiMLS
• 2024-05-01 Price Changed $80,000 REALCOMP
• 2024-03-16 Listed $90,000 MiRealSource-MiMLS
• 2024-03-16 Listed $90,000 REALCOMP
• 2021-03-01 Sold (Public Records) $70,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,156 · -49.4% YoY. Source: county tax records.