12111 Leverne · Redford, MI 48239

$89,000

1 bd · 1.0 ba · 600 sqft · SingleFamily public records · 88 Days on market

Built 1941 8,712 sqft lot $148/sqft · 21% below area Est $150k · 41% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this cute and cozy home situated on a large, fenced in, beautiful grass lot with mature trees. This home has new carpet and tons of natural light. This would be a perfect first home and a great place to have friends and family over for those back yard football games and activities. Come see this beautiful home today.

Key facts

• 8,712 sq ft lot
• Built 1941
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• South Redford School District (suburban): math 11% / reading 29% proficiency, ranked #455 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 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 $615 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 + 3.2% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $62k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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. 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: 1.39% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.82%
• DSCR: 1.88
• GRM: 6.0

CMA / ARV

• ARV (median comp): $149,874
• List price: $89,000
• Delta: -40.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12050 Cavell St	0.63mi	2/1.0 (+1)	657 (+10%)	5mo	$128,000	$195	45
12249 Inkster Rd	0.54mi	2/1.0 (+1)	676 (+13%)	9mo	$99,999	$148	41
12257 Inkster Rd	0.54mi	2/1.0 (+1)	676 (+13%)	17mo	$145,000	$214	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.49×
• Total profit: $12,094
• Equity at exit: $13,270

10-year hold

• IRR: 21.3%
• Equity multiple: 2.83×
• Total profit: $45,518
• Equity at exit: $7,695

Cash invested: $24,920 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $412

Break-even live

Break-even rent $712

Max offer price $89,000

Occupancy floor 62%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $89,000 Active 88 DOM
2. 2026-06-17
   days on market $89,000 Active 87 DOM
3. 2026-06-16
   days on market $89,000 Active 86 DOM
4. 2026-06-15
   days on market $89,000 Active 85 DOM
5. 2026-06-13
   days on market $89,000 Active 83 DOM
6. 2026-06-09
   days on market $89,000 Active 79 DOM
7. 2026-06-08
   days on market $89,000 Active 78 DOM
8. 2026-06-07
   days on market $89,000 Active 77 DOM
9. 2026-06-04
   days on market $89,000 Active 74 DOM
10. 2026-06-03
    days on market $89,000 Active 73 DOM
11. 2026-06-02
    days on market $89,000 Active 72 DOM
12. 2026-06-01
    days on market $89,000 Active 71 DOM
13. 2026-05-31
    days on market $89,000 Active 70 DOM
14. 2026-03-23
    listed $89,000 Active 327-char remark

    Show marketing remark (327 chars)

    Come see this cute and cozy home situated on a large, fenced in, beautiful grass lot with mature trees. This home has new carpet and tons of natural light. This would be a perfect first home and a great place to have friends and family over for those back yard football games and activities. Come see this beautiful home today.

15. 2026-03-23
    listed $89,000 Active 327-char remark

    Show marketing remark (327 chars)

    Come see this cute and cozy home situated on a large, fenced in, beautiful grass lot with mature trees. This home has new carpet and tons of natural light. This would be a perfect first home and a great place to have friends and family over for those back yard football games and activities. Come see this beautiful home today.

16. 2026-03-22
    historical $89,000 327-char remark

    Show marketing remark (327 chars)

    Come see this cute and cozy home situated on a large, fenced in, beautiful grass lot with mature trees. This home has new carpet and tons of natural light. This would be a perfect first home and a great place to have friends and family over for those back yard football games and activities. Come see this beautiful home today.

17. 2023-10-28
    historical $1,100
18. 2023-09-26
    listed $1,100
19. 2006-01-28
    historical
20. 2005-11-03
    listed $89,900
21. 1999-10-04
    soldstatus $61,500
22. 1999-09-14
    soldstatus $61,500
23. 1999-09-14
    soldstatus $61,500
24. 1999-07-09
    listed $64,900
25. 1999-07-09
    listed $64,900
26. 1995-09-14
    soldstatus $18,000

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$335/yr (+$28/mo · 47.9%)

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

Taxation est. · year 1

• Rental income: $14,792
• − Mortgage interest: −$4,985
• − Property taxes: −$700
• − Insurance: −$445
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$2,589
• Taxable income: $3,706
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $4,051/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: South Redford School District
• NCES district ID: 2632280
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $52,775
• Composite: 18.1/100
• National rank: #8972
• State rank: #455 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• 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

+394.4% since first listed

13 events — show timeline

• 2026-03-23 Listed $89,000 MiRealSource-MiMLS
• 2026-03-23 Listed $89,000 REALCOMP
• 2026-03-22 Coming Soon $89,000 MiRealSource-MiMLS
• 2023-10-28 Rental Removed $1,100 APPFOLIO
• 2023-09-26 Listed for Rent $1,100 APPFOLIO
• 2006-01-28 Listing Removed — REALCOMP
• 2005-11-03 Listed $89,900 REALCOMP
• 1999-10-04 Sold (Public Records) $61,500 Public Records
• 1999-09-14 Sold (MLS) $61,500 MiRealSource-MiMLS
• 1999-09-14 Sold (MLS) $61,500 REALCOMP
• 1999-07-09 Listed $64,900 MiRealSource-MiMLS
• 1999-07-09 Listed $64,900 REALCOMP
• 1995-09-14 Sold (Public Records) $18,000 Public Records

Property tax history

-6.8%/yr

Latest (2025): $700 · -63.8% YoY. Source: county tax records.