11710 Chatham · Detroit, MI 48239

$56,000

3 bd · 1.0 ba · 935 sqft · SingleFamily public records · 6 Days on market

Built 1950 5,663 sqft lot Est $94k · 40% 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 +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS 3-BEDROOM BRICK BUNGALOW, HAS A LOT OF POTENTIAL. LARGE BEDROOMS, NICE SIZE KITCHEN, 1 FULL BATH, FULL BASEMENT, BATH, 2 CAR DETACHED GARAGE. GOOD LOCATION CLOSE TO SCHOOLS AND SHOPPING. ALL DATA AND MEASUREMENT ARE APPROX.

Key facts

• Brick bungalow
• Full basement
• 5,663 sq ft lot

Tags

• BRICK BUNGALOW
• FULL BASEMENT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Water available; Sewer available
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.13 acres (50 x 111.77)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Partially finished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Cap rate 18.0% 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 rising (+3.2%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 95% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $387 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 + 3.2% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 27y 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,000

Questions for the listing agent

1. Built in 1950 — 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: 2.18% ✓
• Cap rate: 17.98%
• Cash-on-cash: 41.75%
• DSCR: 2.86
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $93,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11341 Chatham	0.24mi	3/1.0	890 (-5%)	3mo	$95,000	$107	78
13756 W Outer Dr	0.16mi	3/1.0	1,036 (+11%)	5mo	$103,500	$100	70
9938 Bramell	0.41mi	3/1.0	960 (+3%)	10mo	$125,000	$130	68
9606 Chatham	0.50mi	2/1.0 (-1)	912 (-2%)	2mo	$65,000	$71	66
11759 W Parkway St	0.21mi	3/1.0	1,037 (+11%)	10mo	$175,000	$169	63
9650 Chatham	0.47mi	3/1.0	957 (+2%)	17mo	$80,000	$84	60
12723 Hazelton St	0.59mi	3/1.0	993 (+6%)	3mo	$65,500	$66	60
11302 Grayfield	0.41mi	3/1.5	1,033 (+10%)	5mo	$90,000	$87	57
9939 Appleton	0.66mi	3/1.0	926 (-1%)	15mo	$132,000	$143	55
12914 Hazelton St	0.70mi	3/1.5	889 (-5%)	4mo	$55,125	$62	54
12707 Hazelton St	0.57mi	3/1.0	988 (+6%)	16mo	$110,000	$111	50
22442 W Chicago St	0.60mi	2/1.5 (-1)	1,038 (+11%)	13mo	$58,000	$56	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 2.66×
• Total profit: $26,015
• Equity at exit: $8,350

10-year hold

• IRR: 45.3%
• Equity multiple: 5.39×
• Total profit: $68,817
• Equity at exit: $4,842

Cash invested: $15,680 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,222 high
• Mortgage (P&I): −$294
• Tax from tax record: −$103 /mo · $1,231/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $545

Break-even live

Break-even rent $531

Max offer price $56,000

Occupancy floor 50%

Sensitivity live

Price	-10% $577	-5% $561	+0% $545	+5% $530	+10% $514
Rent	-10% $449	-5% $497	+0% $545	+5% $594	+10% $642
Rate	-1.0pp $574	-0.5pp $560	base $545	+0.5pp $531	+1.0pp $516

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12850 Dolphin St Detroit, MI	1.0–2.0	1.0	746	$999	$1.34	5d	4	0.67mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	44d	6	0.74mi
23851 Fullerton Ave Detroit, MI	1.0–2.0	1.0	700	$999	$1.43	44d	1	0.77mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	44d	1	0.88mi
20945 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.97mi
9416 Trinity St Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.98mi
20937 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.98mi
20935 W Chicago Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.98mi
20921 W Chicago Detroit, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.99mi
23610 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.02mi
23626 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.03mi
23614 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.03mi
23618 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.03mi
23602 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.04mi
23606 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.04mi
23622 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.04mi
23636 Schoolcraft Rd Unit -209 Detroit, MI	2.0	1.0	900	$865	$0.96	44d	1	1.05mi
23636 Schoolcraft Rd Unit 109 Detroit, MI	2.0	1.0	750	$975	$1.30	44d	1	1.05mi
23630 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.05mi
23640 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.05mi
23634 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.05mi
23636 Schoolcraft Rd Apt 212 Detroit, MI	2.0	1.0	750	$985	$1.31	44d	1	1.05mi
23652 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	25d	1	1.05mi
23644 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.06mi
23648 Schoolcraft Rd Detroit, MI	2.0	1.0	750	$1,050	$1.40	44d	1	1.06mi
14000 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.06mi
23656 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.06mi
14020 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.06mi
14088 Riverview St Unit 207 Detroit, MI	2.0	1.0	750	$975	$1.30	44d	1	1.07mi
14088 Riverview St Unit 208 Detroit, MI	2.0	1.0	750	$985	$1.31	44d	1	1.07mi
14088 Riverview St Unit 108 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.07mi
14096 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	44d	1	1.07mi
14092 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.07mi
14086 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.07mi
14010 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.07mi
14005 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.07mi
11652 Fielding St Detroit, MI	3.0	1.0	1000	$1,386	$1.39	44d	1	1.07mi
23814 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.08mi
23822 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.09mi
14110 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.09mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $56,000 Pending 6 DOM
2. 2026-06-04
   days on market $56,000 Active 5 DOM
3. 2026-06-03
   days on market $56,000 Active 4 DOM
4. 2026-06-02
   days on market $56,000 Active 3 DOM
5. 2026-06-01
   days on market $56,000 Active 2 DOM
6. 2026-05-31
   remarks 228-char remark
7. 2026-05-31
   listed $56,000 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: $1,231 · $103/mo
• Projected year-2 tax: $1,231 · $103/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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,660
• − Mortgage interest: −$3,137
• − Property taxes: −$1,231
• − Insurance: −$280
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$1,629
• Taxable income: $6,037
• Est. tax owed @ 24.0%: −$1,449
• After-tax cash flow: $5,097/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): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+34.9% since first listed

18 events — show timeline

• 2026-05-30 Listed $56,000 REALCOMP
• 2026-05-30 Listed $56,000 MiRealSource-MiMLS
• 2018-07-17 Sold (MLS) $70,600 MiRealSource-MiMLS
• 2018-07-17 Sold (MLS) $70,600 REALCOMP
• 2018-07-09 Sold (Public Records) $70,600 Public Records
• 2018-03-03 Pending — MiRealSource-MiMLS
• 2018-03-03 Pending — REALCOMP
• 2018-02-28 Price Changed $67,900 MiRealSource-MiMLS
• 2018-02-27 Price Changed $67,900 REALCOMP
• 2017-12-05 Price Changed $75,000 MiRealSource-MiMLS
• 2017-12-04 Price Changed $75,000 REALCOMP
• 2017-09-03 Listed $79,900 MiRealSource-MiMLS
• 2017-09-03 Listed $79,900 REALCOMP
• 1999-06-18 Sold (MLS) $86,000 REALCOMP
• 1999-06-18 Sold (MLS) $86,000 MiRealSource-MiMLS
• 1999-03-16 Listed $87,000 REALCOMP
• 1999-03-16 Listed $87,000 MiRealSource-MiMLS
• 1993-05-28 Sold (Public Records) $41,500 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,231 · -39.2% YoY. Source: county tax records.