13151 Indiana · Detroit, MI 48238

$29,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 451 Days on market

Built 1939 3,049 sqft lot $27/sqft · 25% below area ↓ 55% 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 +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

Key facts

• 3,049 sq ft lot
• Built 1939
• Listed 450 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 36.4% 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: Rents rising fast (+6.1%/yr); 348 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 43% of the median local income ($33k/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 $200 of loan paydown is wiped out by about $870 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 + 6.1% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 451 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $3k; list at $29k implies a 806% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 451 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 1939 — 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: 4.15% ✓
• Cap rate: 36.42%
• Cash-on-cash: 107.61%
• DSCR: 5.79
• GRM: 2.0

CMA / ARV

• ARV (median comp): $64,793
• List price: $29,000
• Delta: -55.24%
• 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
13124 Kentucky St	0.03mi	3/1.5	1,140 (+6%)	10mo	$31,000	$27	79
13558 Pinehurst St	0.44mi	4/1.0 (+1)	1,099 (+2%)	2mo	$135,000	$123	70
12440 Mendota St	0.48mi	3/1.0	1,035 (-4%)	2mo	$39,999	$39	69
12765 Wyoming Ave	0.14mi	3/1.0	928 (-14%)	10mo	$35,000	$38	62
12740 Mendota St	0.37mi	3/1.0	972 (-10%)	6mo	$90,000	$93	61
14249 Cloverlawn St	0.61mi	3/1.0	1,035 (-4%)	5mo	$69,000	$67	60
12754 Mendota St	0.36mi	3/1.0	1,224 (+13%)	8mo	$28,500	$23	54
11642 Griggs St	0.74mi	2/1.0 (-1)	1,056 (-2%)	7mo	$9,000	$9	51
13581 Cloverlawn St	0.33mi	4/2.0 (+1)	1,240 (+15%)	4mo	$143,000	$115	48
11717 Kentucky St	0.64mi	2/1.0 (-1)	1,034 (-4%)	14mo	$13,000	$13	47
13503 Monica St	0.74mi	3/1.0	953 (-12%)	7mo	$47,500	$50	40
14256 Ohio St	0.57mi	3/1.0	1,242 (+15%)	10mo	$40,000	$32	40

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.62×
• Total profit: $45,635
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 15.38×
• Total profit: $116,769
• Equity at exit: $2,507

Cash invested: $8,120 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 348
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$152
• Tax from tax record: −$59 /mo · $712/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $728

Break-even live

Break-even rent $283

Max offer price $29,000

Occupancy floor 35%

Sensitivity live

Price	-10% $745	-5% $736	+0% $728	+5% $720	+10% $712
Rent	-10% $633	-5% $681	+0% $728	+5% $776	+10% $823
Rate	-1.0pp $743	-0.5pp $736	base $728	+0.5pp $721	+1.0pp $713

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	0.23mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	6d	1	0.27mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.42mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	45d	1	0.42mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.44mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.45mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	45d	1	0.45mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.53mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	3d	1	0.53mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	0.54mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	0.59mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	14d	1	0.62mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	18d	1	0.63mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	45d	1	0.76mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	0.78mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	19d	1	0.85mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	23d	1	0.85mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	18d	1	0.86mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	14d	1	0.87mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	25d	4	0.87mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,278	$1.42	0d	1	0.96mi
12775 Plymouth Rd Unit 16 Detroit, MI	2.0	1.0	1009	$825	$0.82	45d	1	0.98mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.98mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	6d	1	0.99mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	45d	1	1.04mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	45d	1	1.05mi
10002 Manor Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	1.06mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	45d	1	1.06mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	1.12mi
10345 Crocuslawn Ave Unit 2 Detroit, MI	2.0	1.0	850	$950	$1.12	45d	1	1.14mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	45d	1	1.17mi
10359 Violetlawn St Unit 1 Detroit, MI	2.0	1.0	1200	$985	$0.82	45d	1	1.19mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	25d	1	1.20mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	45d	1	1.20mi
10303 Morley St #1 Detroit, MI	2.0	1.0	950	$950	$1.00	45d	1	1.22mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	1.26mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	18d	1	1.27mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	18d	1	1.29mi
9558 Meyers Rd Detroit, MI	3.0	1.0	950	$1,150	$1.21	45d	1	1.30mi
9353 Kentucky St Detroit, MI	2.0	1.0	800	$999	$1.25	18d	1	1.32mi

Listing history 37 events

1. 2026-06-21
   days on market $29,000 Active 451 DOM
2. 2026-06-18
   days on market $29,000 Active 448 DOM
3. 2026-06-17
   days on market $29,000 Active 447 DOM
4. 2026-06-15
   days on market $29,000 Active 445 DOM
5. 2026-06-13
   days on market $29,000 Active 443 DOM
6. 2026-06-13
   days on market $29,000 Active 442 DOM
7. 2026-06-09
   days on market $29,000 Active 439 DOM
8. 2026-06-08
   days on market $29,000 Active 438 DOM
9. 2026-06-07
   days on market $29,000 Active 437 DOM
10. 2026-06-04
    days on market $29,000 Active 434 DOM
11. 2026-06-03
    days on market $29,000 Active 433 DOM
12. 2026-06-01
    days on market $29,000 Active 431 DOM
13. 2026-05-31
    days on market $29,000 Active 430 DOM
14. 2025-12-02
    price $29,000 135-char remark

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

15. 2025-12-01
    price $29,000 135-char remark

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

16. 2025-12-01
    price $29,000

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

17. 2025-07-25
    price $19,999 135-char remark

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

18. 2025-07-24
    price $19,999 135-char remark

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

19. 2025-07-24
    price $19,999

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

20. 2025-03-27
    listed $29,900 Active 135-char remark

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

21. 2025-03-27
    listed $29,900 Active 135-char remark

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

22. 2025-03-27
    listed $29,900 Active

    Show marketing remark (135 chars)

    Nice investment property. Fire damage upstairs bedroom, Send offers to [email protected] Call listing agent for more info 313 685-7208

23. 2025-03-22
    historical
24. 2025-03-22
    historical
25. 2025-02-28
    price $39,900
26. 2025-02-27
    price $39,900
27. 2025-02-27
    price $39,900
28. 2024-10-21
    listed $49,000 Active
29. 2024-10-21
    listed $49,000 Active
30. 2009-03-31
    soldstatus $3,200
31. 2009-03-11
    listed $5,500
32. 2007-08-03
    soldstatus $70,000
33. 2006-08-02
    soldstatus $20,000
34. 2006-06-07
    historical
35. 2006-05-11
    listed $27,500
36. 2006-01-19
    listed $34,900
37. 2003-06-17
    soldstatus $65,000

ⓘ 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: $712 · $59/mo
• Projected year-2 tax: $712 · $59/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 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: $14,456
• − Mortgage interest: −$1,624
• − Property taxes: −$712
• − Insurance: −$145
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$844
• Taxable income: $8,817
• Est. tax owed @ 24.0%: −$2,116
• After-tax cash flow: $6,622/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-55.4% since first listed

24 events — show timeline

• 2025-12-02 Price Changed $29,000 MiRealSource-MiMLS
• 2025-12-01 Price Changed $29,000 REALCOMP
• 2025-12-01 Price Changed $29,000 SW Michigan MLS
• 2025-07-25 Price Changed $19,999 MiRealSource-MiMLS
• 2025-07-24 Price Changed $19,999 REALCOMP
• 2025-07-24 Price Changed $19,999 SW Michigan MLS
• 2025-03-27 Listed $29,900 REALCOMP
• 2025-03-27 Listed $29,900 SW Michigan MLS
• 2025-03-27 Listed $29,900 MiRealSource-MiMLS
• 2025-03-22 Listing Removed — REALCOMP
• 2025-03-22 Listing Removed — MiRealSource-MiMLS
• 2025-02-28 Price Changed $39,900 MiRealSource-MiMLS
• 2025-02-27 Price Changed $39,900 REALCOMP
• 2025-02-27 Price Changed $39,900 SW Michigan MLS
• 2024-10-21 Listed $49,000 MiRealSource-MiMLS
• 2024-10-21 Listed $49,000 REALCOMP
• 2009-03-31 Sold (MLS) $3,200 REALCOMP
• 2009-03-11 Listed $5,500 REALCOMP
• 2007-08-03 Sold (Public Records) $70,000 Public Records
• 2006-08-02 Sold (MLS) $20,000 REALCOMP
• 2006-06-07 Listing Removed — REALCOMP
• 2006-05-11 Listed $27,500 REALCOMP
• 2006-01-19 Listed $34,900 REALCOMP
• 2003-06-17 Sold (Public Records) $65,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $712 · -53.3% YoY. Source: county tax records.