13123 Monica St · Detroit, MI 48238

$95,000

4 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 323 Days on market

Built 1926 3,920 sqft lot $67/sqft · 23% above area Est $66k · 43% over

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

Key facts

• 3,920 sq ft lot
• Built 1926
• Listed 323 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 346 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,376/mo this rent would consume 50% of the median local household income ($33k/yr) (locally 2172% 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $62k; list at $95k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 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 1926 — 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: 1.45% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.18%
• DSCR: 1.94
• GRM: 5.8

CMA / ARV

• ARV (median comp): $66,362
• List price: $95,000
• Delta: 43.15%
• 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
13587 Monica St	0.23mi	3/1.0 (-1)	1,484 (+4%)	5mo	$130,000	$88	74
12625 Monica St	0.20mi	3/1.5 (-1)	1,600 (+12%)	2mo	$48,000	$30	62
12303 Cloverlawn St	0.58mi	3/1.5 (-1)	1,454 (+2%)	4mo	$58,500	$40	60
12351 Cherrylawn St	0.65mi	3/1.0 (-1)	1,418 (-1%)	8mo	$109,500	$77	57
13955 Ohio St	0.72mi	3/1.0 (-1)	1,448 (+1%)	5mo	$37,000	$26	55
11717 Cascade St	0.71mi	3/1.0 (-1)	1,536 (+8%)	2mo	$81,000	$53	48
13581 Cloverlawn St	0.51mi	4/2.0	1,240 (-13%)	4mo	$143,000	$115	47
4052 W Buena Vista St	0.52mi	3/1.5 (-1)	1,242 (-13%)	1mo	$160,000	$129	46
13586 Indiana St	0.74mi	3/1.0 (-1)	1,298 (-9%)	2mo	$30,000	$23	44
13903 Cloverlawn Ave	0.56mi	3/1.5 (-1)	1,265 (-11%)	5mo	$140,000	$111	44
12066 Monica St	0.51mi	4/2.5	1,632 (+14%)	8mo	$35,000	$21	40
3735 W Buena Vista St	0.69mi	3/1.5 (-1)	1,213 (-15%)	3mo	$164,900	$136	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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.71×
• Total profit: $18,988
• Equity at exit: $14,165

10-year hold

• IRR: 27.7%
• Equity multiple: 3.81×
• Total profit: $74,649
• Equity at exit: $8,214

Cash invested: $26,600 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,376 high
• Mortgage (P&I): −$498
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $469

Break-even live

Break-even rent $782

Max offer price $95,000

Occupancy floor 61%

Sensitivity live

Price	-10% $523	-5% $496	+0% $469	+5% $443	+10% $416
Rent	-10% $361	-5% $415	+0% $469	+5% $524	+10% $578
Rate	-1.0pp $517	-0.5pp $494	base $469	+0.5pp $445	+1.0pp $420

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.33mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	0.34mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	0.37mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	0.43mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.52mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.56mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.60mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.60mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	0.61mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.65mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	0.68mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.70mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	44d	1	0.73mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.80mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.85mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	0.93mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	0.94mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	25d	1	0.97mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	0.98mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.00mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.02mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	1.05mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	1.06mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.07mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.07mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	1.17mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	25d	1	1.28mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	1.28mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	13d	1	1.31mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	44d	1	1.31mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	1.38mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	1.44mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	2d	1	1.46mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.47mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	1.49mi

Listing history 25 events

1. 2026-06-18
   days on market $95,000 Active 323 DOM
2. 2026-06-17
   days on market $95,000 Active 322 DOM
3. 2026-06-15
   days on market $95,000 Active 320 DOM
4. 2026-06-13
   days on market $95,000 Active 318 DOM
5. 2026-06-13
   days on market $95,000 Active 317 DOM
6. 2026-06-09
   days on market $95,000 Active 314 DOM
7. 2026-06-08
   days on market $95,000 Active 313 DOM
8. 2026-06-07
   days on market $95,000 Active 312 DOM
9. 2026-06-04
   days on market $95,000 Active 309 DOM
10. 2026-06-03
    days on market $95,000 Active 308 DOM
11. 2026-06-01
    days on market $95,000 Active 306 DOM
12. 2026-05-31
    days on market $95,000 Active 305 DOM
13. 2026-04-08
    price $95,000 290-char remark

    Show marketing remark (290 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

14. 2026-04-07
    price $95,000 291-char remark

    Show marketing remark (291 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

15. 2025-09-16
    price $89,000 290-char remark

    Show marketing remark (291 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

16. 2025-09-16
    price $89,000 291-char remark

    Show marketing remark (291 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

17. 2025-09-15
    price $89,900 290-char remark

    Show marketing remark (291 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

18. 2025-09-15
    price $89,900 291-char remark

    Show marketing remark (291 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

19. 2025-07-30
    listed $99,000 Active 291-char remark

    Show marketing remark (290 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

20. 2025-07-30
    listed $99,000 Active 290-char remark

    Show marketing remark (290 chars)

    Welcome to this excellent colonial home! Walk into a spacious, well-maintained, and ready to move in! It's an amazing 4-bedroom, 2-bathroom home in a great location. Newer windows and roof! Don't miss out on the opportunity to call this place home! Schedule your visit through showing time.

21. 2017-06-08
    soldstatus $62,000
22. 2014-12-03
    soldstatus $11,200
23. 2002-12-24
    historical
24. 2002-09-24
    listed $80,000
25. 2002-09-24
    listed $80,000

ⓘ 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: $955 · $80/mo
• Projected year-2 tax: $1,209 · $101/mo
• Expected delta: +$254/yr (+$21/mo · 26.6%)

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,510
• − Mortgage interest: −$5,321
• − Property taxes: −$955
• − Insurance: −$475
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$2,764
• Taxable income: $4,353
• Est. tax owed @ 24.0%: −$1,045
• After-tax cash flow: $4,589/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

+18.8% since first listed

13 events — show timeline

• 2026-04-08 Price Changed $95,000 MiRealSource-MiMLS
• 2026-04-07 Price Changed $95,000 REALCOMP
• 2025-09-16 Price Changed $89,000 MiRealSource-MiMLS
• 2025-09-16 Price Changed $89,000 REALCOMP
• 2025-09-15 Price Changed $89,900 MiRealSource-MiMLS
• 2025-09-15 Price Changed $89,900 REALCOMP
• 2025-07-30 Listed $99,000 REALCOMP
• 2025-07-30 Listed $99,000 MiRealSource-MiMLS
• 2017-06-08 Sold (Public Records) $62,000 Public Records
• 2014-12-03 Sold (Public Records) $11,200 Public Records
• 2002-12-24 Listing Removed — MiRealSource-MiMLS
• 2002-09-24 Listed $80,000 REALCOMP
• 2002-09-24 Listed $80,000 MiRealSource-MiMLS

Property tax history

-2.2%/yr

Latest (2025): $955 · -8.0% YoY. Source: county tax records.