12719 Wade St · Detroit, MI 48213

$90,000

4 bd · 1.0 ba · 955 sqft · SingleFamily public records · 2 Days on market

Built 1938 3,920 sqft lot

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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
• 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

Fantastic opportunity to own this charming 1.5-story brick bungalow located in Detroit! Boasting 955 square feet of above-grade living space, this home features 4 spacious bedrooms, 1 full bathroom, a cozy living room, and a formal dining room perfect for gatherings. Enjoy the durable and modern luxury vinyl plank flooring throughout the main living areas and bedrooms, complemented by classic ceramic tile in the kitchen, dining room, and bath. The property also includes a full, unfinished 764-square-foot basement offering excellent storage or room for future customization. Conveniently situated near major highways (I-94) for an easy commute to downtown Detroit, this home is clean, vacant, and ready for its next owner. Schedule your showing today!

Key facts

• 3,920 sq ft lot
• Built 1938
• Listed 2 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry; Brick exterior
• Construction: Brick construction
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 110)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

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: 190 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• At $1,463/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 1202% 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 $622 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 + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts 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 $11k; list at $90k implies a 721% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.21%
• DSCR: 1.90
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $36,290
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12561 Maiden St	0.13mi	3/1.0 (-1)	963 (+1%)	1mo	$69,690	$72	87
13311 Hampshire St	0.32mi	5/2.0 (+1)	892 (-7%)	3mo	$170,000	$191	63
13150 Hampshire St	0.30mi	3/1.0 (-1)	1,014 (+6%)	19mo	$16,500	$16	55
12780 Evanston St	0.19mi	3/2.5 (-1)	1,074 (+12%)	9mo	$17,500	$16	52
8801 E Outer Dr	0.55mi	3/1.5 (-1)	1,047 (+10%)	1mo	$40,000	$38	51
14263 Hampshire St	0.52mi	3/1.0 (-1)	1,056 (+11%)	5mo	$16,500	$16	49
14227 Elmdale St	0.50mi	3/1.0 (-1)	880 (-8%)	13mo	$27,000	$31	48
5981 Lenox St	0.41mi	3/1.0 (-1)	1,027 (+8%)	21mo	$33,500	$33	46
8750 E Outer Dr	0.51mi	3/1.0 (-1)	1,070 (+12%)	7mo	$102,000	$95	45
14920 longview Longview St	0.72mi	3/1.0 (-1)	1,085 (+14%)	5mo	$35,000	$32	35
12786 Rosemary St	0.58mi	3/2.0 (-1)	1,038 (+9%)	19mo	$127,000	$122	34
5773 Lakewood St	0.70mi	3/1.0 (-1)	1,070 (+12%)	12mo	$46,000	$43	32

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: 12.5%
• Equity multiple: 1.50×
• Total profit: $12,536
• Equity at exit: $13,419

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $46,086
• Equity at exit: $7,782

Cash invested: $25,200 (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 48213

• Active inventory: 190
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$472
• Tax from tax record: −$222 /mo · $2,665/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $424

Break-even live

Break-even rent $926

Max offer price $90,000

Occupancy floor 66%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.34mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	0.41mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	0.46mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.18mi
4667 Eastlawn St Detroit, MI	3.0	1.0	646	$1,095	$1.70	3d	1	1.19mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	1.22mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	1.24mi

Listing history 3 events

1. 2026-06-18
   days on market $90,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $90,000 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: $2,665 · $222/mo
• Projected year-2 tax: $2,665 · $222/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 ≥96°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: $17,559
• − Mortgage interest: −$5,041
• − Property taxes: −$2,665
• − Insurance: −$450
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$2,618
• Taxable income: $3,975
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $4,139/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+721.2% since first listed

20 events — show timeline

• 2026-06-16 Listed $90,000 REALCOMP
• 2026-06-16 Listed $90,000 MiRealSource-MiMLS
• 2026-04-18 Rental Removed $1,300 BUILDIUM
• 2026-03-25 Listing Removed — MiRealSource-MiMLS
• 2026-03-17 Price Changed $70,000 MiRealSource-MiMLS
• 2026-03-16 Price Changed $70,000 REALCOMP
• 2026-03-13 Listed for Rent $1,300 BUILDIUM
• 2025-11-19 Price Changed $80,000 MiRealSource-MiMLS
• 2025-11-18 Price Changed $80,000 REALCOMP
• 2025-10-27 Price Changed $85,000 MiRealSource-MiMLS
• 2025-10-27 Price Changed $85,000 REALCOMP
• 2025-10-01 Price Changed $90,000 MiRealSource-MiMLS
• 2025-10-01 Relisted — MiRealSource-MiMLS
• 2025-10-01 Relisted — REALCOMP
• 2025-10-01 Price Changed $90,000 REALCOMP
• 2025-06-04 Listing Removed — MiRealSource-MiMLS
• 2025-06-04 Listing Removed — REALCOMP
• 2025-05-15 Listed $100,000 REALCOMP
• 2025-05-15 Listed $100,000 MiRealSource-MiMLS
• 1992-05-29 Sold (Public Records) $10,959 Public Records

Property tax history

+5.5%/yr

Latest (2025): $2,665 · +302.6% YoY. Source: county tax records.