11337 Steel St · Detroit, MI 48227

$45,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 73 Days on market

Built 1950 5,663 sqft lot $51/sqft · 20% below area Est $56k · 20% under ↓ 47% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage - perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

Key facts

• Spacious kitchen
• Detached garage
• 5,663 sq ft lot

Tags

• DETACHED GARAGE
• SPACIOUS KITCHEN
• NICELY SIZED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 10.1% 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); 391 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• This rent runs 40% of the median local income ($37k/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 $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 + 5.6% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.70% ✓
• Cap rate: 24.05%
• Cash-on-cash: 63.41%
• DSCR: 3.82
• GRM: 3.1

CMA / ARV

• ARV (median comp): $56,478
• List price: $45,000
• Delta: -20.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11337 Steel St	0.00mi	3/1.0	880 (0%)	1mo	$35,000	$40	99
11318 Littlefield St	0.23mi	2/1.0 (-1)	877 (-0%)	5mo	$57,500	$66	79
9366 Steel St	0.46mi	3/1.0	900 (+2%)	10mo	$59,000	$66	67
9614 Schaefer Hwy	0.44mi	3/1.0	909 (+3%)	10mo	$60,000	$66	66
11437 Manor St	0.21mi	3/1.0	1,006 (+14%)	5mo	$53,900	$54	62
9359 Steel St	0.47mi	3/1.0	802 (-9%)	15mo	$40,000	$50	51
9265 Birwood St	0.69mi	3/1.0	908 (+3%)	15mo	$57,000	$63	50
11695 Kentucky St	0.71mi	2/1.5 (-1)	912 (+4%)	14mo	$25,000	$27	42
9222 Hartwell St	0.67mi	3/1.0	1,000 (+14%)	5mo	$70,000	$70	42
13726 Wadsworth St	0.58mi	3/1.0	1,010 (+15%)	11mo	$50,000	$50	40
12050 Birwood St	0.52mi	2/1.0 (-1)	770 (-12%)	15mo	$52,000	$68	37
8691 Elmira St	0.70mi	3/1.0	1,001 (+14%)	10mo	$35,000	$35	36

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: 65.3%
• Equity multiple: 4.05×
• Total profit: $38,374
• Equity at exit: $6,710

10-year hold

• IRR: 70.5%
• Equity multiple: 9.10×
• Total profit: $102,121
• 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 48227

• Rents YoY: 5.6%
• Active inventory: 391
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$236
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $666

Break-even live

Break-even rent $373

Max offer price $45,000

Occupancy floor 40%

Sensitivity live

Price	-10% $691	-5% $679	+0% $666	+5% $653	+10% $640
Rent	-10% $570	-5% $618	+0% $666	+5% $714	+10% $762
Rate	-1.0pp $688	-0.5pp $677	base $666	+0.5pp $654	+1.0pp $642

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 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	45d	1	0.17mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	0.23mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	45d	1	0.23mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	45d	1	0.33mi
13717 Keal St Detroit, MI	2.0	1.0	799	$1,000	$1.25	45d	1	0.44mi
10345 Crocuslawn Ave Unit 2 Detroit, MI	2.0	1.0	850	$950	$1.12	45d	1	0.48mi
9340 Hartwell St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	45d	1	0.53mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	45d	1	0.56mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.72mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	45d	1	0.72mi
9353 Kentucky St Detroit, MI	2.0	1.0	800	$999	$1.25	18d	1	0.82mi
9590 Marlowe St Detroit, MI	2.0	1.0	877	$1,430	$1.63	45d	1	0.93mi
14740 W Chicago Unit B Detroit, MI	2.0	1.0	900	$845	$0.94	45d	1	1.02mi
12039 Lauder St Detroit, MI	3.0	1.5	1000	$1,500	$1.50	25d	1	1.04mi
10015 Robson St Detroit, MI	3.0	2.0	1000	$1,400	$1.40	19d	1	1.09mi
8283 Pinehurst St Unit 2 Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	1.13mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	25d	1	1.19mi
9022 Northlawn St Detroit, MI	2.0	1.0	1100	$1,300	$1.18	25d	1	1.19mi
9386 Coyle St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	3d	1	1.20mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	1.21mi
9546 Sussex St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	45d	1	1.21mi
9917 Sussex St Detroit, MI	2.0	1.0	800	$1,375	$1.72	45d	1	1.21mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	18d	1	1.26mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	18d	1	1.31mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.34mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	13d	1	1.37mi
8544 Cloverlawn St Detroit, MI	2.0	1.0	800	$800	$1.00	18d	1	1.40mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	45d	1	1.43mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	18d	1	1.47mi

Listing history 10 events

1. 2026-05-11
   status Pending 523-char remark

   Show marketing remark (527 chars)

   Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage—perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

2. 2026-05-11
   status Pending 527-char remark

   Show marketing remark (527 chars)

   Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage—perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

3. 2026-04-10
   price $45,000 523-char remark

   Show marketing remark (527 chars)

   Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage—perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

4. 2026-04-10
   price $45,000 527-char remark

   Show marketing remark (527 chars)

   Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage—perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

5. 2026-02-27
   listed $50,000 Active 523-char remark

   Show marketing remark (527 chars)

   Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage—perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

6. 2026-02-27
   listed $50,000 Active 527-char remark

   Show marketing remark (527 chars)

   Welcome to this 1.5-story bungalow built in 1950 offering 880 sq ft of comfortable living space! This 3-bedroom, 1-bath home blends classic character with practical living. The spacious kitchen provides plenty of room for meal prepping and everyday dining. Step outside to a detached 1-car garage—perfect for extra storage or convenient parking. Enjoy a nicely sized backyard with plenty of space for gardening, outdoor entertaining, or simply relaxing. All offers from interested buyers must be entered online at auction

7. 2025-11-18
   historical
8. 2025-11-18
   historical
9. 2025-09-12
   listed $85,000 Active
10. 2025-09-12
    listed $85,000 Active

ⓘ 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: $480 · $40/mo
• Projected year-2 tax: $586 · $49/mo
• Expected delta: +$107/yr (+$9/mo · 22.2%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,591
• − Mortgage interest: −$2,521
• − Property taxes: −$480
• − Insurance: −$225
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$1,309
• Taxable income: $7,722
• Est. tax owed @ 24.0%: −$1,853
• After-tax cash flow: $6,137/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

-47.1% since first listed

10 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-04-10 Price Changed $45,000 MiRealSource-MiMLS
• 2026-04-10 Price Changed $45,000 REALCOMP
• 2026-02-27 Listed $50,000 REALCOMP
• 2026-02-27 Listed $50,000 MiRealSource-MiMLS
• 2025-11-18 Listing Removed — MiRealSource-MiMLS
• 2025-11-18 Listing Removed — REALCOMP
• 2025-09-12 Listed $85,000 MiRealSource-MiMLS
• 2025-09-12 Listed $85,000 REALCOMP

Property tax history

-1.0%/yr

Latest (2025): $480 · -6.1% YoY. Source: county tax records.