12906 Faust Ave · Detroit, MI 48223

$50,950

2 bd · 1.0 ba · 676 sqft · SingleFamily public records · 45 Days on market

Built 1942 4,792 sqft lot $75/sqft · 31% above area Est $41k · 25% over

---

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 +2.5/5.0
• 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

2 bedroom, 1 bathroom frame home located just outside Grandmont neighbhoord. Home provides convenient access to the freeways. Hard wood floors through the living room and 2 bedrooms. The home features a large deep backyard. Home in need of cosmetic work. Would make for a great rental. Seller also owns 13524 Faust Ave on the same street which can be bought as a package.

Key facts

• Hard wood floors
• Large deep backyard
• 4,792 sq ft lot

Tags

• HARD WOOD FLOORS
• LARGE DEEP BACKYARD
• CONVENIENT ACCESS TO FREEWAYS
• GRANDMONT NEIGHBORHOOD

Property features AI

Finance

• Other: Lot approximately 0.11 acres (35 x 137)
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA details provided

Exterior

• Parking: No garage
• Security: No security details provided
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One story; Ground-level entry with steps; Aluminum siding
• Construction: Asphalt roof; Block foundation
• Exterior features: Paved road access; No pool

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: 5 total rooms (includes bedrooms and other living spaces)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $51k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $51k).
• Recommended offer: $49k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 10.2% 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: 158 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 31% 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 $352 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 + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 17y 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 $20k; list at $51k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,421 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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. 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: 2.24% ✓
• Cap rate: 16.47%
• Cash-on-cash: 36.35%
• DSCR: 2.62
• GRM: 3.7

CMA / ARV

• ARV (median comp): $40,629
• List price: $50,950
• Delta: 25.40%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12900 Faust Ave	0.01mi	2/1.0	735 (+9%)	6mo	$18,500	$25	80
13557 Faust Ave	0.12mi	3/1.0 (+1)	699 (+3%)	5mo	$40,000	$57	80
13516 Glastonbury Ave	0.15mi	2/1.0	685 (+1%)	18mo	$45,000	$66	76
12876 Faust Ave	0.03mi	2/1.0	760 (+12%)	2mo	$44,999	$59	76
13619 Stahelin Ave	0.28mi	2/1.0	672 (-1%)	14mo	$50,000	$74	74
13563 Faust Ave	0.12mi	2/1.0	775 (+15%)	5mo	$60,000	$77	65
13540 Minock St	0.57mi	2/1.0	709 (+5%)	10mo	$24,000	$34	57
11738 Greenview Ave	0.64mi	2/1.0	692 (+2%)	12mo	$43,000	$62	56
11697 Stahelin Ave	0.71mi	2/1.0	774 (+14%)	15mo	$16,000	$21	30
12257 Abington Ave	0.67mi	3/1.0 (+1)	768 (+14%)	21mo	$46,350	$60	24

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: 32.2%
• Equity multiple: 2.36×
• Total profit: $19,356
• Equity at exit: $7,597

10-year hold

• IRR: 39.3%
• Equity multiple: 4.69×
• Total profit: $52,655
• Equity at exit: $4,405

Cash invested: $14,266 (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 48223

• Active inventory: 158
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,139 high
• Mortgage (P&I): −$267
• Tax from tax record: −$179 /mo · $2,153/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $432

Break-even live

Break-even rent $592

Max offer price $50,950

Occupancy floor 57%

Sensitivity live

Price	-10% $461	-5% $447	+0% $432	+5% $418	+10% $403
Rent	-10% $342	-5% $387	+0% $432	+5% $477	+10% $522
Rate	-1.0pp $458	-0.5pp $445	base $432	+0.5pp $419	+1.0pp $406

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: $12,738
• Closing costs: $1,528
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	0.07mi
12611 Memorial St Unit 629203 Detroit, MI	1.0	1.0	635	$995	$1.57	25d	1	0.53mi
12611 Memorial St Unit 629104 Detroit, MI	1.0	1.0	700	$995	$1.42	44d	1	0.53mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	0.76mi
18450 W Chicago Detroit, MI	1.0–2.0	1.0	687	$1,117	$1.62	2d	15	1.30mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	22d	1	1.37mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	25d	1	1.37mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	44d	1	1.45mi
14835 Greenfield Rd Detroit, MI	1.0	1.0	650	$825	$1.27	44d	1	1.49mi

Listing history 37 events

1. 2026-06-18
   days on market $50,950 Active 45 DOM
2. 2026-06-17
   days on market $50,950 Active 44 DOM
3. 2026-06-15
   days on market $50,950 Active 42 DOM
4. 2026-06-13
   days on market $50,950 Active 40 DOM
5. 2026-06-13
   days on market $50,950 Active 39 DOM
6. 2026-06-09
   days on market $50,950 Active 36 DOM
7. 2026-06-08
   days on market $50,950 Active 35 DOM
8. 2026-06-07
   days on market $50,950 Active 34 DOM
9. 2026-06-04
   days on market $50,950 Active 31 DOM
10. 2026-06-03
    days on market $50,950 Active 30 DOM
11. 2026-06-02
    days on market $50,950 Active 29 DOM
12. 2026-06-01
    days on market $50,950 Active 28 DOM
13. 2026-05-31
    days on market $50,950 Active 27 DOM
14. 2026-05-04
    listed $50,950 Active 371-char remark

    Show marketing remark (371 chars)

    2 bedroom, 1 bathroom frame home located just outside Grandmont neighbhoord. Home provides convenient access to the freeways. Hard wood floors through the living room and 2 bedrooms. The home features a large deep backyard. Home in need of cosmetic work. Would make for a great rental. Seller also owns 13524 Faust Ave on the same street which can be bought as a package.

15. 2026-05-04
    listed $50,950 Active 371-char remark

    Show marketing remark (371 chars)

    2 bedroom, 1 bathroom frame home located just outside Grandmont neighbhoord. Home provides convenient access to the freeways. Hard wood floors through the living room and 2 bedrooms. The home features a large deep backyard. Home in need of cosmetic work. Would make for a great rental. Seller also owns 13524 Faust Ave on the same street which can be bought as a package.

16. 2020-08-10
    soldstatus $20,000 Sold

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

17. 2020-08-10
    soldstatus $20,000 Closed

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

18. 2020-07-15
    status Pending

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

19. 2020-07-15
    status Pending

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

20. 2020-07-14
    historical Accepting Backup Offers

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

21. 2020-07-14
    historical Accepting Backup Offers

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

22. 2020-07-09
    status Active

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

23. 2020-07-09
    status Active

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

24. 2020-05-18
    status Pending

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

25. 2020-05-18
    status Pending

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

26. 2020-03-13
    status Active

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

27. 2020-03-13
    status Active

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

28. 2020-03-12
    status Pending

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

29. 2020-03-12
    status Pending

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

30. 2020-03-10
    historical
31. 2020-03-09
    historical Accepting Backup Offers

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

32. 2020-01-20
    listed $19,900 Active

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

33. 2020-01-20
    listed $19,900 Active

    Show marketing remark (281 chars)

    Located just outside the Grandmont neighborhood near the Southfield Freeway and I-96, this cozy two bedroom home is currently tenant occupied at $650/month making it a great addition to your investment portfolio! Seller is highly motivated and is willing to consider all offers!

34. 2009-05-15
    soldstatus $5,000
35. 2009-04-24
    listed $5,000
36. 1996-10-11
    soldstatus $22,608
37. 1995-05-17
    soldstatus $11,274

ⓘ 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: $2,153 · $179/mo
• Projected year-2 tax: $2,153 · $179/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $13,671
• − Mortgage interest: −$2,854
• − Property taxes: −$2,153
• − Insurance: −$255
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$1,482
• Taxable income: $4,739
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $4,048/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• 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: ▼ -303.41%
• Current HPI: 138.2779
• 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

+351.9% since first listed

24 events — show timeline

• 2026-05-04 Listed $50,950 REALCOMP
• 2026-05-04 Listed $50,950 MiRealSource-MiMLS
• 2020-08-10 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2020-08-10 Sold (MLS) $20,000 REALCOMP
• 2020-07-15 Pending — MiRealSource-MiMLS
• 2020-07-15 Pending — REALCOMP
• 2020-07-14 Contingent — MiRealSource-MiMLS
• 2020-07-14 Contingent — REALCOMP
• 2020-07-09 Relisted — MiRealSource-MiMLS
• 2020-07-09 Relisted — REALCOMP
• 2020-05-18 Pending — MiRealSource-MiMLS
• 2020-05-18 Pending — REALCOMP
• 2020-03-13 Relisted — MiRealSource-MiMLS
• 2020-03-13 Relisted — REALCOMP
• 2020-03-12 Pending — MiRealSource-MiMLS
• 2020-03-12 Pending — REALCOMP
• 2020-03-10 Listing Removed — MiRealSource-MiMLS
• 2020-03-09 Contingent — REALCOMP
• 2020-01-20 Listed $19,900 MiRealSource-MiMLS
• 2020-01-20 Listed $19,900 REALCOMP
• 2009-05-15 Sold (MLS) $5,000 REALCOMP
• 2009-04-24 Listed $5,000 REALCOMP
• 1996-10-11 Sold (Public Records) $22,608 Public Records
• 1995-05-17 Sold (Public Records) $11,274 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,153 · +1.0% YoY. Source: county tax records.