12717 Riad St · Detroit, MI 48224

$84,900

3 bd · 1.0 ba · 971 sqft · SingleFamily public records · 77 Days on market

Built 1944 5,227 sqft lot $87/sqft · 48% above area Est $59k · 44% 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

Exceptional opportunity for investors or homeowners ready to unlock this property's full potential with vision, effort, and the right improvements. Should as is.

Key facts

• 5,227 sq ft lot
• Built 1944
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

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); 42% 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 36% 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 $587 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 + 0.7% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 24y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.58% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.20%
• DSCR: 1.90
• GRM: 5.3

CMA / ARV

• ARV (median comp): $59,065
• List price: $84,900
• Delta: 43.74%
• 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
12893 Payton St	0.09mi	3/1.0	1,020 (+5%)	2mo	$75,000	$74	86
19100 Kingsville St	0.39mi	3/1.0	972 (+0%)	2mo	$110,000	$113	80
11545 Roxbury St	0.53mi	3/1.0	1,003 (+3%)	1mo	$65,000	$65	69
16301 Coram St	0.49mi	3/1.0	929 (-4%)	1mo	$19,500	$21	69
12897 Riad St	0.13mi	3/1.0	831 (-14%)	1mo	$63,000	$76	69
16277 Liberal St	0.61mi	3/1.0	945 (-3%)	1mo	$25,000	$26	66
16209 Tacoma St	0.73mi	3/1.0	968 (-0%)	1mo	$62,900	$65	65
18746 Woodside St	0.56mi	3/1.0	921 (-5%)	2mo	$110,000	$119	64
15260 Faircrest St	0.57mi	2/1.0 (-1)	942 (-3%)	1mo	$35,000	$37	63
16107 Manning St	0.67mi	3/1.0	925 (-5%)	2mo	$61,000	$66	60
18905 Woodland St	0.74mi	3/1.5	1,023 (+5%)	1mo	$105,000	$103	54
11640 Somerset Ave	0.71mi	3/2.0	1,028 (+6%)	0mo	$70,000	$68	53

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: 9.7%
• Equity multiple: 1.37×
• Total profit: $8,795
• Equity at exit: $12,659

10-year hold

• IRR: 16.7%
• Equity multiple: 2.22×
• Total profit: $28,980
• Equity at exit: $7,341

Cash invested: $23,772 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,343 high
• Mortgage (P&I): −$445
• Tax from tax record: −$181 /mo · $2,166/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $400

Break-even live

Break-even rent $837

Max offer price $84,900

Occupancy floor 65%

Sensitivity live

Price	-10% $448	-5% $424	+0% $400	+5% $376	+10% $352
Rent	-10% $294	-5% $347	+0% $400	+5% $453	+10% $506
Rate	-1.0pp $443	-0.5pp $422	base $400	+0.5pp $378	+1.0pp $356

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.05mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.30mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	0.33mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.35mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	45d	1	0.36mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.38mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.39mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.45mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	45d	1	0.46mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.52mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	0.54mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.56mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.60mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.63mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	45d	1	0.64mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.66mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.71mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.76mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	45d	1	0.86mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.87mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.93mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.94mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.96mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.98mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	1.00mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	16d	1	1.06mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	1.06mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.07mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.13mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.13mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	1.16mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	1.16mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.20mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	1.24mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	1.37mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	1.42mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	1.43mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	1.45mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	45d	1	1.46mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	1.47mi

Listing history 50 events

1. 2026-06-21
   days on market $84,900 Active 77 DOM
2. 2026-06-18
   days on market $84,900 Active 74 DOM
3. 2026-06-17
   days on market $84,900 Active 73 DOM
4. 2026-06-15
   days on market $84,900 Active 71 DOM
5. 2026-06-13
   days on market $84,900 Active 69 DOM
6. 2026-06-13
   days on market $84,900 Active 68 DOM
7. 2026-06-10
   price $84,900 Active 65 DOM
8. 2026-06-09
   days on market $89,900 Active 65 DOM
9. 2026-06-08
   days on market $89,900 Active 64 DOM
10. 2026-06-07
    days on market $89,900 Active 63 DOM
11. 2026-06-04
    days on market $89,900 Active 60 DOM
12. 2026-06-03
    days on market $89,900 Active 59 DOM
13. 2026-06-02
    days on market $89,900 Active 58 DOM
14. 2026-06-01
    days on market $89,900 Active 57 DOM
15. 2026-05-31
    days on market $89,900 Active 56 DOM
16. 2026-05-10
    price $89,900 161-char remark

    Show marketing remark (167 chars)

    Exceptional opportunity for investors or homeowners ready to unlock this property’s full potential with vision, effort, and the right improvements. Should as is.

17. 2026-05-10
    price $89,900 167-char remark

    Show marketing remark (167 chars)

    Exceptional opportunity for investors or homeowners ready to unlock this property’s full potential with vision, effort, and the right improvements. Should as is.

18. 2026-04-03
    listed $99,900 Active 161-char remark

    Show marketing remark (167 chars)

    Exceptional opportunity for investors or homeowners ready to unlock this property’s full potential with vision, effort, and the right improvements. Should as is.

19. 2026-04-03
    listed $99,900 Active 167-char remark

    Show marketing remark (167 chars)

    Exceptional opportunity for investors or homeowners ready to unlock this property’s full potential with vision, effort, and the right improvements. Should as is.

20. 2026-02-16
    historical
21. 2026-02-16
    historical
22. 2025-12-23
    price $65,000
23. 2025-12-22
    price $65,000
24. 2025-11-13
    price $75,000
25. 2025-11-13
    price $75,000
26. 2025-08-14
    listed $79,000 Active
27. 2025-08-14
    listed $79,000 Active
28. 2024-12-17
    historical
29. 2024-12-16
    historical
30. 2024-05-20
    listed $93,500 Active
31. 2024-05-20
    listed $93,500 Active
32. 2023-11-10
    soldstatus $75,000
33. 2010-08-19
    soldstatus $8,000
34. 2010-08-19
    soldstatus $8,000
35. 2010-08-03
    historical
36. 2010-07-30
    listed $9,900
37. 2010-07-30
    listed $9,900
38. 2010-06-16
    historical
39. 2009-12-15
    listed $59,900
40. 2007-05-29
    soldstatus $38,000
41. 2007-05-29
    soldstatus $38,000
42. 2007-03-12
    historical
43. 2007-02-23
    listed $39,900
44. 2007-02-23
    listed $39,900
45. 2007-02-23
    historical
46. 2007-02-23
    historical
47. 2007-02-02
    listed $44,900
48. 2007-02-02
    listed $44,900
49. 2004-01-29
    soldstatus $78,000
50. 2003-03-18
    soldstatus $78,000

ⓘ 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: $2,166 · $181/mo
• Projected year-2 tax: $2,166 · $181/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: $16,121
• − Mortgage interest: −$4,756
• − Property taxes: −$2,166
• − Insurance: −$424
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$2,470
• Taxable income: $3,725
• Est. tax owed @ 24.0%: −$894
• After-tax cash flow: $3,908/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

+21.7% since first listed

37 events — show timeline

• 2026-05-10 Price Changed $89,900 MiRealSource-MiMLS
• 2026-05-10 Price Changed $89,900 REALCOMP
• 2026-04-03 Listed $99,900 REALCOMP
• 2026-04-03 Listed $99,900 MiRealSource-MiMLS
• 2026-02-16 Listing Removed — MiRealSource-MiMLS
• 2026-02-16 Listing Removed — REALCOMP
• 2025-12-23 Price Changed $65,000 MiRealSource-MiMLS
• 2025-12-22 Price Changed $65,000 REALCOMP
• 2025-11-13 Price Changed $75,000 MiRealSource-MiMLS
• 2025-11-13 Price Changed $75,000 REALCOMP
• 2025-08-14 Listed $79,000 REALCOMP
• 2025-08-14 Listed $79,000 MiRealSource-MiMLS
• 2024-12-17 Listing Removed — MiRealSource-MiMLS
• 2024-12-16 Listing Removed — REALCOMP
• 2024-05-20 Listed $93,500 MiRealSource-MiMLS
• 2024-05-20 Listed $93,500 REALCOMP
• 2023-11-10 Sold (Public Records) $75,000 Public Records
• 2010-08-19 Sold (MLS) $8,000 MiRealSource-MiMLS
• 2010-08-19 Sold (MLS) $8,000 REALCOMP
• 2010-08-03 Listing Removed — MiRealSource-MiMLS
• 2010-07-30 Listed $9,900 MiRealSource-MiMLS
• 2010-07-30 Listed $9,900 REALCOMP
• 2010-06-16 Listing Removed — REALCOMP
• 2009-12-15 Listed $59,900 REALCOMP
• 2007-05-29 Sold (MLS) $38,000 REALCOMP
• 2007-05-29 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2007-03-12 Listing Removed — MiRealSource-MiMLS
• 2007-02-23 Listing Removed — MiRealSource-MiMLS
• 2007-02-23 Listing Removed — REALCOMP
• 2007-02-23 Listed $39,900 REALCOMP
• 2007-02-23 Listed $39,900 MiRealSource-MiMLS
• 2007-02-02 Listed $44,900 MiRealSource-MiMLS
• 2007-02-02 Listed $44,900 REALCOMP
• 2004-01-29 Sold (Public Records) $78,000 Public Records
• 2003-03-18 Sold (MLS) $78,000 MiRealSource-MiMLS
• 2002-09-23 Listing Removed — MiRealSource-MiMLS
• 2002-08-23 Listed $73,900 MiRealSource-MiMLS

Property tax history

+1.7%/yr

Latest (2025): $2,166 · -37.8% YoY. Source: county tax records.