12713 Payton St · Detroit, MI 48224

$67,000

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 587 Days on market

Built 1942 3,920 sqft lot $64/sqft · 6% above area Est $63k · 6% over

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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 +5.0/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

Key facts

• 3,920 sq ft lot
• Garage
• Built 1942

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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: Rents flat; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 33% 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

• It's been on market 587 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 9y ago; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 587 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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: 1.86% ✓
• Cap rate: 14.86%
• Cash-on-cash: 30.61%
• DSCR: 2.36
• GRM: 4.5

CMA / ARV

• ARV (median comp): $63,472
• List price: $67,000
• Delta: 5.56%
• Verdict: FAIR
• 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	0.17mi	3/1.0 (+1)	1,020 (-2%)	2mo	$75,000	$74	83
12519 Riad St	0.07mi	3/1.0 (+1)	1,135 (+9%)	0mo	$100,000	$88	76
12660 Duchess St	0.21mi	3/1.0 (+1)	974 (-6%)	2mo	$55,000	$56	73
11545 Roxbury St	0.56mi	3/1.0 (+1)	1,003 (-4%)	1mo	$65,000	$65	63
15260 Faircrest St	0.48mi	2/1.0	942 (-9%)	1mo	$35,000	$37	61
19100 Kingsville St	0.51mi	3/1.0 (+1)	972 (-6%)	2mo	$110,000	$113	59
15017 Lappin St	0.74mi	3/1.0 (+1)	1,008 (-3%)	2mo	$60,000	$60	53
16301 Coram St	0.57mi	3/1.0 (+1)	929 (-11%)	1mo	$19,500	$21	50
16277 Liberal St	0.68mi	3/1.0 (+1)	945 (-9%)	1mo	$25,000	$26	47
18746 Woodside St	0.67mi	3/1.0 (+1)	921 (-11%)	2mo	$110,000	$119	43
16107 Manning St	0.73mi	3/1.0 (+1)	925 (-11%)	2mo	$61,000	$66	41
19381 Kenosha St	0.74mi	2/1.0	892 (-14%)	2mo	$104,000	$117	40

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: 22.6%
• Equity multiple: 1.90×
• Total profit: $16,880
• Equity at exit: $9,990

10-year hold

• IRR: 29.1%
• Equity multiple: 3.30×
• Total profit: $43,198
• 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: 4.5×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$351
• Tax from tax record: −$129 /mo · $1,549/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $479

Break-even live

Break-even rent $644

Max offer price $67,000

Occupancy floor 57%

Sensitivity live

Price	-10% $517	-5% $498	+0% $479	+5% $460	+10% $441
Rent	-10% $380	-5% $429	+0% $479	+5% $528	+10% $577
Rate	-1.0pp $512	-0.5pp $496	base $479	+0.5pp $461	+1.0pp $444

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
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.13mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	0.33mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	3d	1	0.34mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	18d	1	0.37mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	18d	1	0.38mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.38mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.40mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.45mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	44d	1	0.45mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.46mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.46mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.47mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	18d	1	0.51mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.52mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	44d	1	0.56mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.57mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.68mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	18d	1	0.68mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.70mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	0.74mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	0.75mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.75mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	25d	1	0.84mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.87mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	0.88mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	0.89mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.95mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.96mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.96mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	0.99mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.99mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.01mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	1.02mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.03mi
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	44d	1	1.04mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	1.04mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	1.05mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.06mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	1.06mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.06mi

Listing history 44 events

1. 2026-06-21
   days on market $67,000 Active 587 DOM
2. 2026-06-18
   days on market $67,000 Active 584 DOM
3. 2026-06-17
   days on market $67,000 Active 583 DOM
4. 2026-06-15
   days on market $67,000 Active 581 DOM
5. 2026-06-13
   days on market $67,000 Active 579 DOM
6. 2026-06-13
   days on market $67,000 Active 578 DOM
7. 2026-06-09
   days on market $67,000 Active 575 DOM
8. 2026-06-08
   days on market $67,000 Active 574 DOM
9. 2026-06-07
   days on market $67,000 Active 573 DOM
10. 2026-06-04
    days on market $67,000 Active 570 DOM
11. 2026-06-03
    days on market $67,000 Active 569 DOM
12. 2026-06-01
    days on market $67,000 Active 567 DOM
13. 2026-05-31
    days on market $67,000 Active 566 DOM
14. 2026-04-21
    price $67,000 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

15. 2026-04-21
    price $67,000 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

16. 2025-10-31
    price $69,000 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

17. 2025-10-31
    price $69,000 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

18. 2025-07-04
    price $72,000 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

19. 2025-07-03
    price $72,000 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

20. 2024-11-11
    listed $75,000 Active 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

21. 2024-11-07
    listed $75,000 Active 166-char remark

    Show marketing remark (166 chars)

    Welcome to this charming home on Detroit. Enjoy the convenience of being close to fantastic restaurants, shops, major highways, and more. Don't miss the opportunity !

22. 2020-02-17
    soldstatus $59,000
23. 2019-10-27
    historical
24. 2019-10-27
    historical
25. 2019-10-09
    listed $45,000 Active
26. 2019-10-09
    listed $45,000 Active
27. 2019-09-13
    historical
28. 2019-09-13
    historical
29. 2019-09-11
    price $39,000
30. 2019-09-11
    price $39,000
31. 2019-07-30
    listed $42,000 Active
32. 2019-07-30
    listed $42,000 Active
33. 2018-07-20
    soldstatus $36,000 Sold
34. 2018-07-20
    soldstatus $36,000 Closed
35. 2018-06-27
    status Pending
36. 2018-06-27
    status Pending
37. 2018-06-18
    listed $38,000 Active
38. 2018-06-18
    listed $38,000 Active
39. 2017-06-27
    soldstatus $21,000 Sold
40. 2017-06-27
    soldstatus $21,000 Closed
41. 2017-06-14
    status Pending
42. 2017-06-14
    status Pending
43. 2017-06-03
    listed $24,900 Active
44. 2017-06-03
    listed $24,900 Active

ⓘ 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: $1,549 · $129/mo
• Projected year-2 tax: $1,549 · $129/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: $14,992
• − Mortgage interest: −$3,753
• − Property taxes: −$1,549
• − Insurance: −$335
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$1,949
• Taxable income: $5,007
• Est. tax owed @ 24.0%: −$1,202
• After-tax cash flow: $4,541/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

+169.1% since first listed

31 events — show timeline

• 2026-04-21 Price Changed $67,000 MiRealSource-MiMLS
• 2026-04-21 Price Changed $67,000 REALCOMP
• 2025-10-31 Price Changed $69,000 MiRealSource-MiMLS
• 2025-10-31 Price Changed $69,000 REALCOMP
• 2025-07-04 Price Changed $72,000 MiRealSource-MiMLS
• 2025-07-03 Price Changed $72,000 REALCOMP
• 2024-11-11 Listed $75,000 REALCOMP
• 2024-11-07 Listed $75,000 MiRealSource-MiMLS
• 2020-02-17 Sold (Public Records) $59,000 Public Records
• 2019-10-27 Listing Removed — REALCOMP
• 2019-10-27 Listing Removed — MiRealSource-MiMLS
• 2019-10-09 Listed $45,000 MiRealSource-MiMLS
• 2019-10-09 Listed $45,000 REALCOMP
• 2019-09-13 Listing Removed — REALCOMP
• 2019-09-13 Listing Removed — MiRealSource-MiMLS
• 2019-09-11 Price Changed $39,000 MiRealSource-MiMLS
• 2019-09-11 Price Changed $39,000 REALCOMP
• 2019-07-30 Listed $42,000 MiRealSource-MiMLS
• 2019-07-30 Listed $42,000 REALCOMP
• 2018-07-20 Sold (MLS) $36,000 MiRealSource-MiMLS
• 2018-07-20 Sold (MLS) $36,000 REALCOMP
• 2018-06-27 Pending — MiRealSource-MiMLS
• 2018-06-27 Pending — REALCOMP
• 2018-06-18 Listed $38,000 MiRealSource-MiMLS
• 2018-06-18 Listed $38,000 REALCOMP
• 2017-06-27 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2017-06-27 Sold (MLS) $21,000 REALCOMP
• 2017-06-14 Pending — MiRealSource-MiMLS
• 2017-06-14 Pending — REALCOMP
• 2017-06-03 Listed $24,900 MiRealSource-MiMLS
• 2017-06-03 Listed $24,900 REALCOMP

Property tax history

-0.8%/yr

Latest (2025): $1,549 · -54.1% YoY. Source: county tax records.