12798 Wilshire Dr · Detroit, MI 48213

$87,499

4 bd · 2.0 ba · 2,335 sqft · SingleFamily public records · 18 Days on market

Built 1928 5,663 sqft lot Est $114k · 24% under

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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
• 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

Come get a piece of Detroit's booming real estate market that offers strong cash flow returns. This single family property is currently renting at $1600 a month and presents a turn key cash flow opportunity for any investor looking for a sustainable cap rate. Schedule your showing today! This one won't last long. DO NOT APPROACH HOME WITHOUT AN AGENT APPROVED SHOWING. DO NOT DISTURB TENANTS.

Key facts

• 5,663 sq ft lot
• Built 1928
• Listed 18 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Colonial style; Single-family residence
• Construction: Brick construction; Asphalt roof; Built in 1928
• Exterior features: Public water

Interior

• Kitchen: Kitchen (8 x 14)
• Bedrooms: Primary bedroom (12 x 16); Bedroom 2 (12 x 12); Bedroom 3 (8 x 8); Bedroom 4 (10 x 10)
• Bathrooms: 2 full bathrooms; Primary bathroom (6 x 12); Bathroom 1 (10 x 8)
• Heating & cooling: Radiant heating
• Interior features: Radiant heating; Fireplace; 9 total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 10.0% 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: 192 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $1,690/mo this rent would consume 60% of the median local household income ($34k/yr) (locally 1202% 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 $605 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 13 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 $40k; list at $87k implies a 119% 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 $86,186 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 1.93% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.61%
• DSCR: 2.27
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $114,415
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12622 Promenade St	0.15mi	3/2.0 (-1)	2,432 (+4%)	15mo	$120,000	$49	69
13368 Maiden St	0.44mi	4/3.0	2,460 (+5%)	1mo	$179,000	$73	66
9171 E Outer Dr	0.29mi	4/2.0	2,504 (+7%)	14mo	$178,000	$71	63
12086 Glenfield St	0.59mi	4/2.0	2,232 (-4%)	5mo	$110,000	$49	61
9424 E Outer Dr	0.48mi	4/2.5	2,319 (-1%)	23mo	$228,000	$98	55
9439 E Outer Dr	0.51mi	3/2.5 (-1)	2,259 (-3%)	16mo	$170,000	$75	50
13324 Camden St	0.51mi	4/2.0	1,992 (-15%)	3mo	$40,000	$20	49
12588 Maiden St	0.37mi	3/1.5 (-1)	2,169 (-7%)	18mo	$89,800	$41	49
12244 Kilbourne St	0.45mi	3/2.0 (-1)	2,601 (+11%)	12mo	$85,000	$33	45
12709 Hampshire St	0.48mi	5/1.5 (+1)	2,191 (-6%)	20mo	$73,000	$33	44
12045 Kilbourne Ave	0.61mi	5/2.5 (+1)	2,400 (+3%)	21mo	$125,000	$52	42

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: 23.0%
• Equity multiple: 1.94×
• Total profit: $23,139
• Equity at exit: $13,046

10-year hold

• IRR: 31.0%
• Equity multiple: 3.80×
• Total profit: $68,523
• Equity at exit: $7,565

Cash invested: $24,500 (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: 192
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$459
• Tax from tax record: −$256 /mo · $3,072/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $584

Break-even live

Break-even rent $951

Max offer price $87,499

Occupancy floor 60%

Sensitivity live

Price	-10% $634	-5% $609	+0% $584	+5% $559	+10% $535
Rent	-10% $451	-5% $517	+0% $584	+5% $651	+10% $718
Rate	-1.0pp $628	-0.5pp $606	base $584	+0.5pp $561	+1.0pp $538

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	26d	1	0.45mi
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	26d	1	0.64mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	19d	1	0.73mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	45d	1	0.95mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	19d	1	1.40mi
18080 Westphalia St Detroit, MI	5.0	3.0	2131	$2,500	$1.17	46d	1	1.45mi

Listing history 12 events

1. 2026-06-21
   days on market $87,499 Active 18 DOM
2. 2026-06-18
   days on market $87,499 Active 15 DOM
3. 2026-06-17
   days on market $87,499 Active 14 DOM
4. 2026-06-16
   days on market $87,499 Active 13 DOM
5. 2026-06-15
   days on market $87,499 Active 12 DOM
6. 2026-06-13
   days on market $87,499 Active 10 DOM
7. 2026-06-13
   days on market $87,499 Active 9 DOM
8. 2026-06-09
   days on market $87,499 Active 6 DOM
9. 2026-06-08
   days on market $87,499 Active 5 DOM
10. 2026-06-07
    days on market $87,499 Active 4 DOM
11. 2026-06-03
    remarks 395-char remark
12. 2026-06-03
    listed $87,499 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: $3,072 · $256/mo
• Projected year-2 tax: $3,072 · $256/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $20,285
• − Mortgage interest: −$4,901
• − Property taxes: −$3,072
• − Insurance: −$437
• − Repairs & maintenance: −$1,623
• − Management: −$1,623
• − Depreciation: −$2,545
• Taxable income: $6,083
• Est. tax owed @ 24.0%: −$1,460
• After-tax cash flow: $5,549/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

+250.0% since first listed

29 events — show timeline

• 2026-05-18 Listed $87,499 REALCOMP
• 2026-05-18 Listed $87,499 MiRealSource-MiMLS
• 2026-05-18 Listed $87,499 SW Michigan MLS
• 2025-10-19 Rental Removed $1,800 TURBOTENANT
• 2025-09-08 Price Changed $1,800 TURBOTENANT
• 2025-09-05 Listed for Rent $1,900 TURBOTENANT
• 2024-03-09 Rental Removed $2,000 TURBOTENANT
• 2024-02-07 Listed for Rent $2,000 TURBOTENANT
• 2024-01-03 Rental Removed $2,000 APPFOLIO
• 2023-12-02 Listed for Rent $2,000 APPFOLIO
• 2023-12-02 Rental Removed $2,000 TURBOTENANT
• 2023-12-01 Listed for Rent $2,000 TURBOTENANT
• 2021-07-07 Listing Removed — REALCOMP
• 2021-07-07 Listing Removed — MiRealSource-MiMLS
• 2021-06-03 Price Changed $99,900 MiRealSource-MiMLS
• 2021-06-03 Price Changed $99,900 REALCOMP
• 2021-05-27 Listed $110,000 MiRealSource-MiMLS
• 2021-05-27 Listed $110,000 REALCOMP
• 2020-11-23 Sold (Public Records) $40,000 Public Records
• 2020-11-04 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2020-11-04 Sold (MLS) $40,000 REALCOMP
• 2020-10-15 Pending — MiRealSource-MiMLS
• 2020-10-15 Pending — REALCOMP
• 2020-09-24 Listed $43,000 MiRealSource-MiMLS
• 2020-09-24 Listed $43,000 REALCOMP
• 2013-11-21 Listing Removed — REALCOMP
• 2013-11-21 Listing Removed — MiRealSource-MiMLS
• 2013-05-21 Listed $25,000 REALCOMP
• 2013-05-21 Listed $25,000 MiRealSource-MiMLS

Property tax history

+5.6%/yr

Latest (2025): $3,072 · -0.3% YoY. Source: county tax records.