12762 Meyers Rd · Detroit, MI 48227

$60,000

6 bd · 1.5 ba · 1,687 sqft · SingleFamily public records · 4 Days on market

Built 1925 3,920 sqft lot

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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 +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Good looking 2 Unit home is good for investors or a smart homeowner that wants to make extra income. The homeowner just spent $27,000 in updates last year inc. All new Siding, windows, gutters & downspouts. 2 Separate electric meters and gas meters, all new electric circuit breaker panels and wiring throughout, all new Plumbing throughout, downstairs is a spacious two bedroom unit with good square foot and upstairs is a spacious one bedroom unit with good square foot it is possible to make a second bedroom upstairs, the flooring throughout the home is 3/4 in thick solid oak! the basement walls appear to be all newer block including a solid block support wall in the basement creating p

Key facts

• New siding
• New downspouts
• Separate gas meters

Tags

• NEW SIDING
• NEW WINDOWS
• NEW GUTTERS
• NEW DOWNSPOUTS
• SEPARATE ELECTRIC METERS
• SEPARATE GAS METERS

Property features AI

Finance

• Other: Parcel frontage approximately 40 feet; Lot area approximately 0.09 acres
• HOA & community: Landlord/association pays for trash removal

Exterior

• Utilities: Natural gas
• Home design: Multi-Family property; Built in 1925
• Construction: Basement foundation
• Exterior features: Vinyl siding

Interior

• Heating & cooling: Natural gas available; Wall heating; Forced air heating
• Interior features: Multi-family layout (2 units)

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $894 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 24.2% 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: Rents rising fast (+5.6%/yr); 385 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,784/mo this rent would consume 59% of the median local household income ($37k/yr) (locally 2371% 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 $415 of loan paydown is wiped out by about $2k 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 + 5.6% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 7y 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 $22k; list at $60k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1925 — 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: 2.97% ✓
• Cap rate: 24.16%
• Cash-on-cash: 63.82%
• DSCR: 3.84
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $145,082
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12749 Washburn St	0.41mi	5/2.0 (-1)	1,720 (+2%)	6mo	$140,000	$81	66
13431 Hartwell St	0.55mi	5/2.0 (-1)	1,850 (+10%)	1mo	$160,000	$86	50

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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 66.1%
• Equity multiple: 4.10×
• Total profit: $52,047
• Equity at exit: $8,946

10-year hold

• IRR: 71.2%
• Equity multiple: 9.31×
• Total profit: $139,607
• Equity at exit: $5,188

Cash invested: $16,800 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $894

Break-even live

Break-even rent $653

Max offer price $60,000

Occupancy floor 45%

Sensitivity live

Price	-10% $928	-5% $911	+0% $894	+5% $877	+10% $860
Rent	-10% $753	-5% $823	+0% $894	+5% $964	+10% $1,035
Rate	-1.0pp $924	-0.5pp $909	base $894	+0.5pp $878	+1.0pp $862

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.35mi

Listing history 8 events

1. 2026-06-18
   days on market $60,000 Active 4 DOM
2. 2026-06-17
   days on market $60,000 Active 3 DOM
3. 2026-06-16
   days on market $60,000 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $60,000 Active 1 DOM
5. 2026-06-15
   remarks 695-char remark
6. 2026-06-15
   days on market $60,000 Active 2 DOM
7. 2026-06-13
   remarks 208-char remark
8. 2026-06-13
   listed $60,000 Active 1 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: $2,117 · $176/mo
• Projected year-2 tax: $2,117 · $176/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 2/10 Low 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: $21,412
• − Mortgage interest: −$3,361
• − Property taxes: −$2,117
• − Insurance: −$300
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$1,745
• Taxable income: $10,462
• Est. tax owed @ 24.0%: −$2,511
• After-tax cash flow: $8,212/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

+141.0% since first listed

21 events — show timeline

• 2026-06-12 Listed $60,000 MiRealSource-MiMLS
• 2025-05-08 Listing Removed — MiRealSource-MiMLS
• 2025-05-08 Listing Removed — REALCOMP
• 2025-01-24 Price Changed $45,000 MiRealSource-MiMLS
• 2025-01-23 Price Changed $45,000 REALCOMP
• 2025-01-13 Listed $15,000 MiRealSource-MiMLS
• 2025-01-08 Listed $15,000 REALCOMP
• 2019-08-16 Sold (MLS) $22,500 MiRealSource-MiMLS
• 2019-08-16 Sold (MLS) $22,500 REALCOMP
• 2019-08-07 Pending — MiRealSource-MiMLS
• 2019-08-07 Pending — REALCOMP
• 2019-06-04 Price Changed $24,900 MiRealSource-MiMLS
• 2019-06-04 Price Changed $24,900 REALCOMP
• 2019-06-03 Relisted — MiRealSource-MiMLS
• 2019-06-03 Relisted — REALCOMP
• 2019-05-21 Listing Removed — REALCOMP
• 2019-05-21 Listing Removed — MiRealSource-MiMLS
• 2019-04-24 Price Changed $28,900 MiRealSource-MiMLS
• 2019-04-23 Price Changed $28,900 REALCOMP
• 2019-04-08 Listed $24,900 MiRealSource-MiMLS
• 2019-04-08 Listed $24,900 REALCOMP

Property tax history

+6.2%/yr

Latest (2025): $2,117 · +1.1% YoY. Source: county tax records.