11540 Wayburn St · Detroit, MI 48224

$67,000

3 bd · 1.0 ba · 845 sqft · SingleFamily public records · 2 Days on market

Built 1929 4,792 sqft lot $79/sqft · 36% above area Est $49k · 36% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• 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

Charming Starter Home or Investment Opportunity in Lincoln Gardens! Welcome to this cozy 3-bedroom, 1-bath single-family home offering a classic brick construction, this home features a practical layout perfect for first-time buyers, downsizers, or savvy investors looking to add value in a established Detroit neighborhood. 3 bedrooms on the entry level (primary approx. Located in the Lincoln Gardens / Denby area (near Gratiot Ave corridor), this home sits on tree-lined streets in a residential neighborhood known for brick bungalows, quiet side blocks, and convenient access to daily amenities, transit, schools (including Denby High School), and local spots like eateries and green spaces. It's an ideal spot for those seeking affordability and potential in Detroit's revitalizing east side. Priced to sell at $68,000, this property represents excellent value with room for personalization and equity-building updates. Whether you're looking for a comfortable family home or a solid rental/investment, 11540 Wayburn Street is ready for its next chapter!

Key facts

• Tree-lined streets
• Convenient access
• Green spaces

Tags

• BRICK CONSTRUCTION
• TREE-LINED STREETS
• RESIDENTIAL NEIGHBORHOOD
• CONVENIENT ACCESS
• GREEN SPACES

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick construction; Brick/mortar foundation; Built using brick materials
• Exterior features: Private maintained road; Private road frontage; Lot dimensions 36 x 130 (0.11 acres); Pets not allowed

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Cap rate 14.0% vs local median 10.1% 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 flat; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• This rent runs 35% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 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 + 0.7% rent growth), your $19k cash investment doubles in ~5 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 since 31y 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 $6k; list at $67k implies a 1118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,000

Questions for the listing agent

1. Built in 1929 — 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: 1.98% ✓
• Cap rate: 13.95%
• Cash-on-cash: 27.35%
• DSCR: 2.22
• GRM: 4.2

CMA / ARV

• ARV (median comp): $49,136
• List price: $67,000
• Delta: 38.39%
• 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
11624 Wayburn St	0.06mi	3/1.0	756 (-10%)	3mo	$17,000	$22	78
12075 Rossiter St	0.51mi	3/1.0	851 (+1%)	4mo	$45,000	$53	72
12641 Kelly Rd	0.51mi	2/1.0 (-1)	840 (-1%)	4mo	$15,000	$18	66
12056 Duchess St	0.24mi	3/1.0	950 (+12%)	3mo	$30,000	$32	66
12897 Riad St	0.67mi	3/1.0	831 (-2%)	1mo	$63,000	$76	65
11475 Lakepointe St	0.15mi	2/1.0 (-1)	953 (+13%)	3mo	$95,000	$100	64
11035 Worden St	0.70mi	3/1.0	834 (-1%)	3mo	$55,000	$66	63
12505 Laing St	0.49mi	3/1.0	752 (-11%)	3mo	$54,600	$73	56
11490 Somerset Ave	0.57mi	3/1.0	915 (+8%)	4mo	$70,000	$77	56
11974 Duchess St	0.25mi	2/1.0 (-1)	724 (-14%)	5mo	$37,000	$51	56
12843 Payton St	0.62mi	3/1.0	934 (+10%)	4mo	$38,000	$41	50
11017 Worden St	0.69mi	3/1.0	961 (+14%)	0mo	$47,500	$49	44

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 1.72×
• Total profit: $13,538
• Equity at exit: $9,990

10-year hold

• IRR: 24.9%
• Equity multiple: 2.91×
• Total profit: $35,738
• Equity at exit: $5,793

Cash invested: $18,760 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$351
• Tax from tax record: −$239 /mo · $2,863/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $428

Break-even live

Break-even rent $782

Max offer price $67,000

Occupancy floor 63%

Sensitivity live

Price	-10% $466	-5% $447	+0% $428	+5% $409	+10% $390
Rent	-10% $323	-5% $375	+0% $428	+5% $480	+10% $532
Rate	-1.0pp $461	-0.5pp $445	base $428	+0.5pp $410	+1.0pp $393

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.16mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.24mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.31mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.32mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.33mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.46mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.54mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	0.55mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.55mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.55mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	0.56mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.57mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.58mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.59mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	0.62mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.64mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.65mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	0.75mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	0.77mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	0.80mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.80mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.80mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.81mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	0.82mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	44d	1	0.84mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.88mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	0.91mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.92mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.95mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.96mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.97mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	44d	1	1.00mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.05mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	3d	1	1.08mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	44d	1	1.10mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.12mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	1.14mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	44d	1	1.18mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	1.18mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	44d	1	1.18mi

Listing history 41 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   pricedays on marketlisting id $67,000 Active 2 DOM
3. 2026-06-18
   days on market $68,000 Active 279 DOM
4. 2026-06-17
   days on market $68,000 Active 278 DOM
5. 2026-06-15
   days on market $68,000 Active 276 DOM
6. 2026-06-13
   days on market $68,000 Active 274 DOM
7. 2026-06-13
   days on market $68,000 Active 273 DOM
8. 2026-06-09
   days on market $68,000 Active 270 DOM
9. 2026-06-08
   days on market $68,000 Active 269 DOM
10. 2026-06-07
    days on market $68,000 Active 268 DOM
11. 2026-06-04
    days on market $68,000 Active 265 DOM
12. 2026-06-03
    days on market $68,000 Active 264 DOM
13. 2026-06-01
    days on market $68,000 Active 262 DOM
14. 2026-05-31
    days on market $68,000 Active 261 DOM
15. 2026-02-26
    price $68,000 64-char remark
16. 2026-02-25
    price $68,000 64-char remark
17. 2025-12-05
    price $70,000 64-char remark
18. 2025-12-04
    price $70,000 64-char remark
19. 2025-09-09
    listed $90,000 Active 64-char remark
20. 2025-09-09
    listed $90,000 Active 64-char remark
21. 2022-02-18
    soldstatus $5,500 Sold
22. 2022-02-18
    soldstatus $5,500 Closed
23. 2021-10-15
    status Pending
24. 2021-10-12
    historical
25. 2021-09-20
    status Pending
26. 2021-09-14
    historical
27. 2021-05-03
    soldstatus $79,900
28. 2021-03-05
    status Pending
29. 2021-03-02
    historical
30. 2020-05-08
    status Pending
31. 2020-05-05
    historical
32. 2020-02-14
    status Pending
33. 2020-02-13
    historical
34. 2019-09-19
    status Pending
35. 2019-09-19
    status Pending
36. 2018-11-19
    listed $5,500 Active
37. 2018-11-19
    listed $5,500 Active
38. 1996-03-21
    soldstatus $30,000
39. 1996-03-12
    soldstatus $30,000
40. 1996-02-11
    historical
41. 1995-10-24
    listed $32,900

ⓘ 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: $2,863 · $239/mo
• Projected year-2 tax: $2,863 · $239/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 ≥95°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: $15,880
• − Mortgage interest: −$3,753
• − Property taxes: −$2,863
• − Insurance: −$335
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$1,949
• Taxable income: $4,440
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,066/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+103.6% since first listed

31 events — show timeline

• 2026-06-19 Listing Removed — REALCOMP
• 2026-06-19 Listed $67,000 REALCOMP
• 2026-06-19 Listed $67,000 MiRealSource-MiMLS
• 2026-06-19 Listing Removed — MiRealSource-MiMLS
• 2026-02-26 Price Changed $68,000 MiRealSource-MiMLS
• 2026-02-25 Price Changed $68,000 REALCOMP
• 2025-12-05 Price Changed $70,000 MiRealSource-MiMLS
• 2025-12-04 Price Changed $70,000 REALCOMP
• 2025-09-09 Listed $90,000 REALCOMP
• 2025-09-09 Listed $90,000 MiRealSource-MiMLS
• 2022-02-18 Sold (MLS) $5,500 MiRealSource-MiMLS
• 2022-02-18 Sold (MLS) $5,500 REALCOMP
• 2021-10-15 Pending — REALCOMP
• 2021-10-12 Listing Removed — REALCOMP
• 2021-09-20 Pending — REALCOMP
• 2021-09-14 Listing Removed — REALCOMP
• 2021-05-03 Sold (Public Records) $79,900 Public Records
• 2021-03-05 Pending — REALCOMP
• 2021-03-02 Listing Removed — REALCOMP
• 2020-05-08 Pending — REALCOMP
• 2020-05-05 Listing Removed — REALCOMP
• 2020-02-14 Pending — REALCOMP
• 2020-02-13 Listing Removed — REALCOMP
• 2019-09-19 Pending — MiRealSource-MiMLS
• 2019-09-19 Pending — REALCOMP
• 2018-11-19 Listed $5,500 MiRealSource-MiMLS
• 2018-11-19 Listed $5,500 REALCOMP
• 1996-03-21 Sold (Public Records) $30,000 Public Records
• 1996-03-12 Sold (MLS) $30,000 MiRealSource-MiMLS
• 1996-02-11 Listing Removed — MiRealSource-MiMLS
• 1995-10-24 Listed $32,900 MiRealSource-MiMLS

Property tax history

+1.3%/yr

Latest (2025): $2,863 · +99.2% YoY. Source: county tax records.