11635 Penrod St · Detroit, MI 48228

$78,000

3 bd · 1.0 ba · 905 sqft · SingleFamily public records · 141 Days on market

Built 1947 5,227 sqft lot $86/sqft · 75% above area Est $69k · 13% over

---

Why this score? — see what drove the C+ 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
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• ARV discount +1.7/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW . . COME TAKE A LOOK AT THIS CHARMING COZY HOME FOR SALE FEATURING 3 BEDROOMS, 1 FULL BATH, !! * * * * DO NOT DISTURB THE TENANTS * *

Key facts

• 5,227 sq ft lot
• Built 1947
• Listed 141 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• At $1,281/mo this rent would consume 50% of the median local household income ($31k/yr) (locally 4144% 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 $539 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 + 0.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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: 1.64% ✓
• Cap rate: 14.33%
• Cash-on-cash: 28.72%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (median comp): $69,027
• List price: $78,000
• Delta: 13.00%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9917 Rutland St	0.51mi	3/1.0	900 (-1%)	9mo	$100,000	$111	68
12203 Grandmont Ave	0.62mi	3/1.5	861 (-5%)	1mo	$95,000	$110	60
9352 Rutland St	0.73mi	3/1.0	915 (+1%)	6mo	$15,000	$16	59
12124 Asbury Park	0.74mi	3/1.5	919 (+2%)	2mo	$130,000	$141	59
11689 Minock St	0.62mi	3/1.0	950 (+5%)	6mo	$82,000	$86	58
9934 Warwick St	0.48mi	3/1.0	1,018 (+12%)	2mo	$70,000	$69	56
11700 Auburn St	0.66mi	3/1.5	964 (+6%)	3mo	$55,000	$57	54
9976 Warwick St	0.45mi	3/1.5	1,024 (+13%)	4mo	$129,900	$127	52
11329 Minock St	0.65mi	3/1.0	816 (-10%)	4mo	$50,000	$61	50
9965 Asbury Park	0.74mi	3/1.0	824 (-9%)	5mo	$60,000	$73	46
9317 Artesian St	0.72mi	2/1.0 (-1)	994 (+10%)	1mo	$25,000	$25	44
11720 Minock St	0.60mi	3/1.5	771 (-15%)	5mo	$95,000	$123	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.77×
• Total profit: $16,886
• Equity at exit: $11,630

10-year hold

• IRR: 26.0%
• Equity multiple: 2.97×
• Total profit: $43,019
• Equity at exit: $6,744

Cash invested: $21,840 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,281 high
• Mortgage (P&I): −$409
• Tax from tax record: −$48 /mo · $571/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $523

Break-even live

Break-even rent $619

Max offer price $78,000

Occupancy floor 54%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	16d	1	0.09mi
11704 Greenview Ave Detroit, MI	4.0	1.0	1046	$1,300	$1.24	24d	1	0.10mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	1d	15	0.54mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	4d	1	0.70mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.76mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	4d	1	0.77mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	0.78mi
12711 Grandmont Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.80mi
19449 W Chicago St Detroit, MI	3.0	1.5	950	$1,500	$1.58	43d	1	0.82mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.83mi
12084 Vaughan St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	16d	1	0.85mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	43d	1	0.86mi
9090 Stahelin Ave Detroit, MI	2.0	1.0	787	$1,250	$1.59	43d	1	0.86mi
9108 Archdale St Detroit, MI	3.0	1.0	1000	$1,300	$1.30	4d	1	0.87mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.87mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	43d	1	0.89mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	4d	1	0.91mi
8850 Rosemont Ave Detroit, MI	3.0	1.0	933	$1,100	$1.18	17d	1	1.00mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	43d	1	1.02mi
12121 Montrose St Detroit, MI	3.0	1.0	874	$1,373	$1.57	21d	1	1.08mi
9345 Rutherford St Unit 3 Detroit, MI	2.0	1.0	850	$1,050	$1.24	24d	1	1.11mi
9936 Montrose St Detroit, MI	3.0	1.0	963	$1,200	$1.25	16d	1	1.14mi
9973 Winthrop St Detroit, MI	3.0	1.0	960	$1,400	$1.46	43d	1	1.17mi
19301 Joy Rd Apt 1 Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	1.17mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	43d	1	1.18mi
20522 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	43d	1	1.19mi
11345 Greenfield Rd Detroit, MI	2.0	1.0	700	$1,050	$1.50	12d	1	1.20mi
20529 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.21mi
9401 Fielding St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.21mi
20550 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.21mi
20541 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.22mi
20545 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.22mi
9410 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.22mi
20547 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.22mi
9404 Patton St Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	1.23mi
8451 Rosemont Ave Detroit, MI	3.0	1.0	867	$1,150	$1.33	43d	1	1.24mi
11393 Prest St Detroit, MI	3.0	1.0	900	$1,550	$1.72	16d	1	1.25mi
20619 W Chicago Detroit, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.26mi
9222 Forrer St Detroit, MI	3.0	1.0	947	$1,450	$1.53	16d	1	1.27mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	16d	1	1.30mi

Listing history 25 events

1. 2026-06-18
   days on market $78,000 Active 141 DOM
2. 2026-06-17
   days on market $78,000 Active 140 DOM
3. 2026-06-15
   days on market $78,000 Active 138 DOM
4. 2026-06-13
   days on market $78,000 Active 136 DOM
5. 2026-06-13
   days on market $78,000 Active 135 DOM
6. 2026-06-09
   days on market $78,000 Active 132 DOM
7. 2026-06-08
   days on market $78,000 Active 131 DOM
8. 2026-06-07
   days on market $78,000 Active 130 DOM
9. 2026-06-04
   days on market $78,000 Active 127 DOM
10. 2026-06-03
    days on market $78,000 Active 126 DOM
11. 2026-06-01
    days on market $78,000 Active 124 DOM
12. 2026-05-31
    days on market $78,000 Active 123 DOM
13. 2026-03-12
    price $78,000 142-char remark

    Show marketing remark (142 chars)

    WOW . . COME TAKE A LOOK AT THIS CHARMING COZY HOME FOR SALE FEATURING 3 BEDROOMS, 1 FULL BATH, !! * * * * DO NOT DISTURB THE TENANTS * *

14. 2026-03-12
    price $78,000 142-char remark

    Show marketing remark (142 chars)

    WOW . . COME TAKE A LOOK AT THIS CHARMING COZY HOME FOR SALE FEATURING 3 BEDROOMS, 1 FULL BATH, !! * * * * DO NOT DISTURB THE TENANTS * *

15. 2026-01-28
    listed $80,000 Active 142-char remark

    Show marketing remark (142 chars)

    WOW . . COME TAKE A LOOK AT THIS CHARMING COZY HOME FOR SALE FEATURING 3 BEDROOMS, 1 FULL BATH, !! * * * * DO NOT DISTURB THE TENANTS * *

16. 2026-01-28
    listed $80,000 Active 142-char remark

    Show marketing remark (142 chars)

    WOW . . COME TAKE A LOOK AT THIS CHARMING COZY HOME FOR SALE FEATURING 3 BEDROOMS, 1 FULL BATH, !! * * * * DO NOT DISTURB THE TENANTS * *

17. 2020-01-10
    soldstatus $69,900
18. 2019-03-13
    historical
19. 2019-03-13
    historical
20. 2019-02-26
    price $48,000
21. 2019-02-25
    price $48,000
22. 2019-01-29
    status Active
23. 2019-01-25
    historical
24. 2019-01-05
    listed $53,000 Active
25. 2019-01-05
    listed $53,000 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: $571 · $48/mo
• Projected year-2 tax: $886 · $74/mo
• Expected delta: +$315/yr (+$26/mo · 55.2%)

ⓘ 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 ≥98°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: $15,369
• − Mortgage interest: −$4,369
• − Property taxes: −$571
• − Insurance: −$390
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$2,269
• Taxable income: $5,311
• Est. tax owed @ 24.0%: −$1,275
• After-tax cash flow: $4,998/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+47.2% since first listed

13 events — show timeline

• 2026-03-12 Price Changed $78,000 MiRealSource-MiMLS
• 2026-03-12 Price Changed $78,000 REALCOMP
• 2026-01-28 Listed $80,000 REALCOMP
• 2026-01-28 Listed $80,000 MiRealSource-MiMLS
• 2020-01-10 Sold (Public Records) $69,900 Public Records
• 2019-03-13 Listing Removed — REALCOMP
• 2019-03-13 Listing Removed — MiRealSource-MiMLS
• 2019-02-26 Price Changed $48,000 MiRealSource-MiMLS
• 2019-02-25 Price Changed $48,000 REALCOMP
• 2019-01-29 Relisted — REALCOMP
• 2019-01-25 Listing Removed — REALCOMP
• 2019-01-05 Listed $53,000 MiRealSource-MiMLS
• 2019-01-05 Listed $53,000 REALCOMP

Property tax history

-8.6%/yr

Latest (2025): $571 · -5.3% YoY. Source: county tax records.