12309 Klinger St · Detroit, MI 48212

$129,900

4 bd · 1.0 ba · 972 sqft · SingleFamily public records · 1 Days on market

Built 1922 3,000 sqft lot Est $172k · 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Perfect bungalow style home situated between Carpenter St and Conant St in the heart of the city. Easily converted to a multi family unit with two separate entrances, this home is perfect investment to set up as a two unit rental, or the new owner can live in one unit, and rent out the other for additional income. With a large front porch and large backyard offering ample private parking, this home is ready to welcome its new owner or tenants. Extremely walkable to shopping, restaurants, grocery stores, and conveniently located to major freeways.

Key facts

• 3,000 sq ft lot
• Built 1922

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).

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: 170 active listings in the ZIP; 2 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 $1,632/mo this rent would consume 51% of the median local household income ($38k/yr) (locally 1175% 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 5y 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.60%
• DSCR: 1.65
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $172,044
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12091 Moran St	0.15mi	3/1.0 (-1)	952 (-2%)	10mo	$191,000	$201	77
12624 Charest St	0.23mi	3/1.0 (-1)	1,008 (+4%)	2mo	$190,000	$188	76
11711 Moran St	0.29mi	4/1.5	1,033 (+6%)	3mo	$210,000	$203	72
12045 Klinger St	0.18mi	3/1.0 (-1)	1,031 (+6%)	7mo	$182,000	$177	71
4487 Fredro St	0.33mi	3/1.5 (-1)	1,000 (+3%)	10mo	$146,000	$146	65
3831 Casmere St	0.41mi	3/2.0 (-1)	1,014 (+4%)	10mo	$151,000	$149	56
3334 Meade St	0.17mi	3/2.0 (-1)	839 (-14%)	7mo	$185,000	$221	54
5059 Harold St	0.57mi	3/1.0 (-1)	1,036 (+7%)	9mo	$165,000	$159	50
13502 Anglin St	0.64mi	3/1.0 (-1)	921 (-5%)	9mo	$22,000	$24	49
3939 Casmere St	0.46mi	3/1.0 (-1)	1,108 (+14%)	9mo	$190,000	$171	42
5086 Casmere St	0.56mi	3/2.0 (-1)	1,100 (+13%)	4mo	$198,000	$180	39
11658 Lumpkin St	0.67mi	3/1.0 (-1)	1,100 (+13%)	10mo	$155,000	$141	34

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: 5.0%
• Equity multiple: 1.20×
• Total profit: $7,121
• Equity at exit: $19,369

10-year hold

• IRR: 14.5%
• Equity multiple: 2.17×
• Total profit: $42,457
• Equity at exit: $11,231

Cash invested: $36,372 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 170
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$111 /mo · $1,337/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $442

Break-even live

Break-even rent $1,072

Max offer price $129,900

Occupancy floor 68%

Sensitivity live

Price	-10% $516	-5% $479	+0% $442	+5% $406	+10% $369
Rent	-10% $313	-5% $378	+0% $442	+5% $507	+10% $571
Rate	-1.0pp $508	-0.5pp $475	base $442	+0.5pp $409	+1.0pp $375

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	19d	1	1.49mi
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	25d	1	1.50mi

Listing history 43 events

1. 2025-07-15
   soldstatus $185,000
2. 2024-12-17
   status Pending
3. 2022-11-02
   soldstatus $120,000
4. 2022-09-12
   status Pending 552-char remark

   Show marketing remark (552 chars)

   Perfect bungalow style home situated between Carpenter St and Conant St in the heart of the city. Easily converted to a multi family unit with two separate entrances, this home is perfect investment to set up as a two unit rental, or the new owner can live in one unit, and rent out the other for additional income. With a large front porch and large backyard offering ample private parking, this home is ready to welcome its new owner or tenants. Extremely walkable to shopping, restaurants, grocery stores, and conveniently located to major freeways.

5. 2022-09-12
   status Pending

   Show marketing remark (552 chars)

   Perfect bungalow style home situated between Carpenter St and Conant St in the heart of the city. Easily converted to a multi family unit with two separate entrances, this home is perfect investment to set up as a two unit rental, or the new owner can live in one unit, and rent out the other for additional income. With a large front porch and large backyard offering ample private parking, this home is ready to welcome its new owner or tenants. Extremely walkable to shopping, restaurants, grocery stores, and conveniently located to major freeways.

6. 2022-09-10
   listed $129,900 Active

   Show marketing remark (552 chars)

   Perfect bungalow style home situated between Carpenter St and Conant St in the heart of the city. Easily converted to a multi family unit with two separate entrances, this home is perfect investment to set up as a two unit rental, or the new owner can live in one unit, and rent out the other for additional income. With a large front porch and large backyard offering ample private parking, this home is ready to welcome its new owner or tenants. Extremely walkable to shopping, restaurants, grocery stores, and conveniently located to major freeways.

7. 2022-09-10
   listed $129,900 Active 552-char remark

   Show marketing remark (552 chars)

   Perfect bungalow style home situated between Carpenter St and Conant St in the heart of the city. Easily converted to a multi family unit with two separate entrances, this home is perfect investment to set up as a two unit rental, or the new owner can live in one unit, and rent out the other for additional income. With a large front porch and large backyard offering ample private parking, this home is ready to welcome its new owner or tenants. Extremely walkable to shopping, restaurants, grocery stores, and conveniently located to major freeways.

8. 2022-09-08
   historical
9. 2022-09-08
   historical
10. 2022-09-03
    price $129,900
11. 2022-09-03
    price $129,900
12. 2022-08-30
    price $139,900
13. 2022-08-29
    price $139,900
14. 2022-08-20
    price $144,900
15. 2022-08-20
    price $144,900
16. 2022-08-07
    price $149,900
17. 2022-08-06
    price $149,900
18. 2022-07-28
    price $154,900
19. 2022-07-28
    price $154,900
20. 2022-07-22
    listed $159,900 Active
21. 2022-07-22
    listed $159,900 Active
22. 2022-07-21
    historical
23. 2022-07-21
    historical
24. 2022-04-06
    soldstatus $95,000 Sold
25. 2022-04-06
    soldstatus $95,000 Closed
26. 2022-01-26
    status Pending
27. 2022-01-26
    status Pending
28. 2022-01-22
    price $99,900
29. 2022-01-22
    price $99,900
30. 2022-01-03
    price $119,000
31. 2022-01-02
    price $119,000
32. 2021-12-28
    price $129,000
33. 2021-12-28
    price $129,000
34. 2021-12-06
    listed $135,000 Active
35. 2021-12-06
    listed $135,000 Active
36. 2021-11-30
    historical
37. 2021-11-30
    historical
38. 2021-11-03
    price $135,000
39. 2021-11-02
    price $135,000
40. 2021-10-18
    listed $170,000 Active
41. 2021-10-18
    listed $170,000 Active
42. 2004-07-20
    soldstatus $55,000
43. 2000-08-30
    soldstatus $40,000

ⓘ 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: $1,337 · $111/mo
• Projected year-2 tax: $1,669 · $139/mo
• Expected delta: +$332/yr (+$28/mo · 24.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,582
• − Mortgage interest: −$7,276
• − Property taxes: −$1,337
• − Insurance: −$650
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$3,779
• Taxable income: $3,407
• Est. tax owed @ 24.0%: −$818
• After-tax cash flow: $4,491/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): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• 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

+362.5% since first listed

43 events — show timeline

• 2025-07-15 Sold (Public Records) $185,000 Public Records
• 2024-12-17 Pending — REALCOMP
• 2022-11-02 Sold (Public Records) $120,000 Public Records
• 2022-09-12 Pending — MiRealSource-MiMLS
• 2022-09-12 Pending — REALCOMP
• 2022-09-10 Listed $129,900 MiRealSource-MiMLS
• 2022-09-10 Listed $129,900 REALCOMP
• 2022-09-08 Listing Removed — REALCOMP
• 2022-09-08 Listing Removed — MiRealSource-MiMLS
• 2022-09-03 Price Changed $129,900 MiRealSource-MiMLS
• 2022-09-03 Price Changed $129,900 REALCOMP
• 2022-08-30 Price Changed $139,900 MiRealSource-MiMLS
• 2022-08-29 Price Changed $139,900 REALCOMP
• 2022-08-20 Price Changed $144,900 MiRealSource-MiMLS
• 2022-08-20 Price Changed $144,900 REALCOMP
• 2022-08-07 Price Changed $149,900 MiRealSource-MiMLS
• 2022-08-06 Price Changed $149,900 REALCOMP
• 2022-07-28 Price Changed $154,900 MiRealSource-MiMLS
• 2022-07-28 Price Changed $154,900 REALCOMP
• 2022-07-22 Listed $159,900 MiRealSource-MiMLS
• 2022-07-22 Listed $159,900 REALCOMP
• 2022-07-21 Coming Soon — MiRealSource-MiMLS
• 2022-07-21 Coming Soon — REALCOMP
• 2022-04-06 Sold (MLS) $95,000 MiRealSource-MiMLS
• 2022-04-06 Sold (MLS) $95,000 REALCOMP
• 2022-01-26 Pending — MiRealSource-MiMLS
• 2022-01-26 Pending — REALCOMP
• 2022-01-22 Price Changed $99,900 MiRealSource-MiMLS
• 2022-01-22 Price Changed $99,900 REALCOMP
• 2022-01-03 Price Changed $119,000 MiRealSource-MiMLS
• 2022-01-02 Price Changed $119,000 REALCOMP
• 2021-12-28 Price Changed $129,000 MiRealSource-MiMLS
• 2021-12-28 Price Changed $129,000 REALCOMP
• 2021-12-06 Listed $135,000 MiRealSource-MiMLS
• 2021-12-06 Listed $135,000 REALCOMP
• 2021-11-30 Listing Removed — MiRealSource-MiMLS
• 2021-11-30 Listing Removed — REALCOMP
• 2021-11-03 Price Changed $135,000 MiRealSource-MiMLS
• 2021-11-02 Price Changed $135,000 REALCOMP
• 2021-10-18 Listed $170,000 MiRealSource-MiMLS
• 2021-10-18 Listed $170,000 REALCOMP
• 2004-07-20 Sold (Public Records) $55,000 Public Records
• 2000-08-30 Sold (Public Records) $40,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,337 · -37.2% YoY. Source: county tax records.