11801 Elmdale St · Detroit, MI 48213

$40,000

3 bd · 1.0 ba · 915 sqft · SingleFamily public records · 78 Days on market

Built 1940 6,098 sqft lot $44/sqft · at area comps Est $41k · at est. ↓ 43% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• 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

This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

Key facts

• Brick bungalow
• Cozy dining area
• Private suite

Tags

• BRICK BUNGALOW
• LIGHT-FILLED LIVING SPACE
• COZY DINING AREA
• EFFICIENT KITCHEN SETUP
• SPACIOUS THIRD BEDROOM
• PRIVATE SUITE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.6% 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: 190 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 45% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $19k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $40k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.18% ✓
• Cap rate: 25.58%
• Cash-on-cash: 68.89%
• DSCR: 4.07
• GRM: 2.6

CMA / ARV

• ARV (median comp): $41,491
• List price: $40,000
• Delta: -3.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12561 Maiden St	0.48mi	3/1.0	963 (+5%)	1mo	$69,690	$72	68
12016 Elmdale St	0.10mi	2/1.0 (-1)	948 (+4%)	24mo	$60,000	$63	65
12521 Chelsea St	0.44mi	2/1.0 (-1)	953 (+4%)	18mo	$27,000	$28	53
11151 Rosemary St	0.52mi	3/1.0	1,000 (+9%)	10mo	$29,900	$30	52
12527 Glenfield St	0.71mi	3/1.0	935 (+2%)	16mo	$22,000	$24	50
12623 Wade St	0.54mi	3/1.0	948 (+4%)	22mo	$30,000	$32	50
12389 Camden St	0.46mi	2/1.0 (-1)	864 (-6%)	18mo	$40,000	$46	50
12534 Evanston St	0.56mi	3/1.0	960 (+5%)	21mo	$65,000	$68	48
12541 Camden St	0.49mi	2/1.0 (-1)	1,014 (+11%)	9mo	$29,525	$29	46
8801 E Outer Dr	0.62mi	3/1.5	1,047 (+14%)	1mo	$40,000	$38	44

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: 68.4%
• Equity multiple: 4.08×
• Total profit: $34,540
• Equity at exit: $5,964

10-year hold

• IRR: 72.5%
• Equity multiple: 8.42×
• Total profit: $83,096
• Equity at exit: $3,458

Cash invested: $11,200 (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: 190
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,271 high
• Mortgage (P&I): −$210
• Tax from tax record: −$134 /mo · $1,612/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $643

Break-even live

Break-even rent $457

Max offer price $40,000

Occupancy floor 44%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	0.27mi
11765 Glenfield Ave Unit 1510880P Detroit, MI	2.0	1.0	990	$3,102	$3.13	14d	1	0.59mi
13067 Wade St Detroit, MI	2.0	1.0	660	$900	$1.36	4d	1	0.81mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.85mi
12110 Christy St Detroit, MI	2.0	1.5	950	$1,200	$1.26	17d	1	0.96mi
12112 Christy St Unit 12110 Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.96mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	0.98mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	4d	1	1.09mi
11700 Engleside St Detroit, MI	3.0	1.0	1000	$1,175	$1.18	43d	1	1.19mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	1.21mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	1.26mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	14d	1	1.30mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	1.41mi

Listing history 44 events

1. 2026-06-18
   days on market $40,000 Active 78 DOM
2. 2026-06-17
   days on market $40,000 Active 77 DOM
3. 2026-06-15
   days on market $40,000 Active 75 DOM
4. 2026-06-13
   days on market $40,000 Active 73 DOM
5. 2026-06-13
   days on market $40,000 Active 72 DOM
6. 2026-06-09
   days on market $40,000 Active 69 DOM
7. 2026-06-08
   days on market $40,000 Active 68 DOM
8. 2026-06-07
   pricedays on market $40,000 Active 67 DOM
9. 2026-06-04
   days on market $45,900 Active 64 DOM
10. 2026-06-03
    days on market $45,900 Active 63 DOM
11. 2026-06-02
    days on market $45,900 Active 62 DOM
12. 2026-06-01
    days on market $45,900 Active 61 DOM
13. 2026-05-31
    days on market $45,900 Active 60 DOM
14. 2026-04-15
    price $45,900 703-char remark

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

15. 2026-04-15
    price $45,900 704-char remark

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

16. 2026-04-15
    price $45,900

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

17. 2026-04-01
    listed $58,900 Active 703-char remark

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

18. 2026-04-01
    listed $58,900 Active 704-char remark

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

19. 2026-04-01
    listed $58,900 Active

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

20. 2026-04-01
    historical

    Show marketing remark (704 chars)

    This turnkey brick bungalow is the perfect opportunity for both seasoned investors and first-time buyers. With 3 bedrooms, 1 full bath, and a functional layout, this home used to rented out for $1,300/month, making it an ideal cash-flowing asset from day one. The main level features a light-filled living space, cozy dining area, and an efficient kitchen setup--clean, updated, and ready to go. Two bedrooms and a full bath complete the first floor, while the entire second story offers a spacious third bedroom or flex space that's perfect for a private suite, office, or creative zone . Classic curb appeal shines with a brick exterior, front porch, and a deep lot offering future backyard potential.

21. 2026-03-31
    historical
22. 2026-02-21
    price $58,900
23. 2026-02-20
    price $58,900
24. 2026-02-20
    price $58,900
25. 2026-02-07
    price $68,900
26. 2026-02-06
    price $68,900
27. 2026-02-06
    price $68,900
28. 2026-01-31
    price $72,900
29. 2026-01-30
    price $72,900
30. 2026-01-30
    price $72,900
31. 2026-01-22
    price $78,900
32. 2026-01-21
    price $78,900
33. 2026-01-21
    price $78,900
34. 2026-01-09
    listed $85,000 Active
35. 2026-01-09
    listed $85,000 Active
36. 2026-01-07
    historical
37. 2005-02-01
    soldstatus $20,500
38. 2005-01-04
    historical
39. 2004-11-14
    listed $21,500
40. 2004-10-25
    historical
41. 2004-10-25
    historical
42. 2004-09-29
    listed $21,500
43. 2004-09-29
    listed $21,500
44. 2003-07-29
    soldstatus $80,000

ⓘ 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: $1,612 · $134/mo
• Projected year-2 tax: $1,612 · $134/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 2/10 Low FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $15,246
• − Mortgage interest: −$2,241
• − Property taxes: −$1,612
• − Insurance: −$200
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$1,164
• Taxable income: $7,591
• Est. tax owed @ 24.0%: −$1,822
• After-tax cash flow: $5,894/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

-42.6% since first listed

31 events — show timeline

• 2026-04-15 Price Changed $45,900 MiRealSource-MiMLS
• 2026-04-15 Price Changed $45,900 REALCOMP
• 2026-04-15 Price Changed $45,900 SW Michigan MLS
• 2026-04-01 Listing Removed — MiRealSource-MiMLS
• 2026-04-01 Listed $58,900 SW Michigan MLS
• 2026-04-01 Listed $58,900 REALCOMP
• 2026-04-01 Listed $58,900 MiRealSource-MiMLS
• 2026-03-31 Listing Removed — REALCOMP
• 2026-02-21 Price Changed $58,900 MiRealSource-MiMLS
• 2026-02-20 Price Changed $58,900 REALCOMP
• 2026-02-20 Price Changed $58,900 SW Michigan MLS
• 2026-02-07 Price Changed $68,900 MiRealSource-MiMLS
• 2026-02-06 Price Changed $68,900 REALCOMP
• 2026-02-06 Price Changed $68,900 SW Michigan MLS
• 2026-01-31 Price Changed $72,900 MiRealSource-MiMLS
• 2026-01-30 Price Changed $72,900 REALCOMP
• 2026-01-30 Price Changed $72,900 SW Michigan MLS
• 2026-01-22 Price Changed $78,900 MiRealSource-MiMLS
• 2026-01-21 Price Changed $78,900 REALCOMP
• 2026-01-21 Price Changed $78,900 SW Michigan MLS
• 2026-01-09 Listed $85,000 REALCOMP
• 2026-01-09 Listed $85,000 MiRealSource-MiMLS
• 2026-01-07 Coming Soon — MiRealSource-MiMLS
• 2005-02-01 Sold (MLS) $20,500 MiRealSource-MiMLS
• 2005-01-04 Listing Removed — MiRealSource-MiMLS
• 2004-11-14 Listed $21,500 MiRealSource-MiMLS
• 2004-10-25 Listing Removed — REALCOMP
• 2004-10-25 Listing Removed — MiRealSource-MiMLS
• 2004-09-29 Listed $21,500 REALCOMP
• 2004-09-29 Listed $21,500 MiRealSource-MiMLS
• 2003-07-29 Sold (Public Records) $80,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,612 · -54.2% YoY. Source: county tax records.