13021 E Forest Ave · Detroit, MI 48215

$129,000

5 bd · 1.0 ba · 1,284 sqft · SingleFamily public records · 180 Days on market

Built 2000 5,227 sqft lot $100/sqft · 72% above area

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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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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

Motivated Seller. Tenant-occupied investment opportunity or new home for buyer. Long-term tenant in place for 3 years with reliable $1,600/month rental income. Property presents an opportunity for future improvements to enhance value while maintaining current cash flow. Seller welcomes a straightforward sale and happy to accept whatever the bank is willing to accept. Contact us for more details. all photos are from prior years right before occupancy.

Key facts

• 5,227 sq ft lot
• Garage
• Built 2000

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% 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: 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $5k; list at $129k implies a 2479% gain — meaningful room to come down on a strong offer.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.32% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.91%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (median comp): $80,711
• List price: $129,000
• Delta: 59.83%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5517 Drexel St	0.40mi	5/2.0	1,425 (+11%)	3mo	$65,000	$46	56
5764 Lenox St	0.57mi	4/1.0 (-1)	1,401 (+9%)	18mo	$85,000	$61	38

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $11,506
• Equity at exit: $19,234

10-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $51,732
• Equity at exit: $11,154

Cash invested: $36,120 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,705 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $509

Break-even live

Break-even rent $1,061

Max offer price $129,000

Occupancy floor 65%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	43d	1	1.03mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	24d	1	1.17mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.33mi

Listing history 36 events

1. 2026-06-18
   days on market $129,000 Active 180 DOM
2. 2026-06-17
   days on market $129,000 Active 179 DOM
3. 2026-06-15
   days on market $129,000 Active 177 DOM
4. 2026-06-13
   days on market $129,000 Active 175 DOM
5. 2026-06-13
   days on market $129,000 Active 174 DOM
6. 2026-06-09
   days on market $129,000 Active 171 DOM
7. 2026-06-08
   days on market $129,000 Active 170 DOM
8. 2026-06-07
   days on market $129,000 Active 169 DOM
9. 2026-06-04
   days on market $129,000 Active 166 DOM
10. 2026-06-03
    days on market $129,000 Active 165 DOM
11. 2026-06-01
    days on market $129,000 Active 163 DOM
12. 2026-05-31
    days on market $129,000 Active 162 DOM
13. 2026-04-06
    price $129,000 454-char remark

    Show marketing remark (454 chars)

    Motivated Seller. Tenant-occupied investment opportunity or new home for buyer. Long-term tenant in place for 3 years with reliable $1,600/month rental income. Property presents an opportunity for future improvements to enhance value while maintaining current cash flow. Seller welcomes a straightforward sale and happy to accept whatever the bank is willing to accept. Contact us for more details. all photos are from prior years right before occupancy.

14. 2026-04-06
    price $129,000 454-char remark

    Show marketing remark (454 chars)

    Motivated Seller. Tenant-occupied investment opportunity or new home for buyer. Long-term tenant in place for 3 years with reliable $1,600/month rental income. Property presents an opportunity for future improvements to enhance value while maintaining current cash flow. Seller welcomes a straightforward sale and happy to accept whatever the bank is willing to accept. Contact us for more details. all photos are from prior years right before occupancy.

15. 2025-12-19
    listed $135,000 Active 454-char remark

    Show marketing remark (454 chars)

    Motivated Seller. Tenant-occupied investment opportunity or new home for buyer. Long-term tenant in place for 3 years with reliable $1,600/month rental income. Property presents an opportunity for future improvements to enhance value while maintaining current cash flow. Seller welcomes a straightforward sale and happy to accept whatever the bank is willing to accept. Contact us for more details. all photos are from prior years right before occupancy.

16. 2025-12-19
    listed $135,000 Active 454-char remark

    Show marketing remark (454 chars)

    Motivated Seller. Tenant-occupied investment opportunity or new home for buyer. Long-term tenant in place for 3 years with reliable $1,600/month rental income. Property presents an opportunity for future improvements to enhance value while maintaining current cash flow. Seller welcomes a straightforward sale and happy to accept whatever the bank is willing to accept. Contact us for more details. all photos are from prior years right before occupancy.

17. 2023-07-06
    historical
18. 2023-07-06
    historical
19. 2023-07-01
    price $160,000
20. 2023-07-01
    price $160,000
21. 2023-05-22
    price $135,000
22. 2023-05-22
    price $135,000
23. 2023-05-12
    price $139,000
24. 2023-05-12
    price $139,000
25. 2023-04-20
    price $144,000
26. 2023-04-20
    price $144,000
27. 2023-04-14
    price $154,000
28. 2023-04-14
    price $154,000
29. 2023-04-09
    listed $159,900 Active
30. 2023-04-09
    listed $159,900 Active
31. 2020-11-20
    soldstatus $5,001 Sold
32. 2020-11-20
    soldstatus $5,001 Closed
33. 2020-06-10
    status Pending
34. 2020-06-10
    status Pending
35. 2020-03-05
    listed $4,500 Active
36. 2020-03-05
    listed $4,500 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: $1,297 · $108/mo
• Projected year-2 tax: $1,642 · $137/mo
• Expected delta: +$345/yr (+$29/mo · 26.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% 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: $20,465
• − Mortgage interest: −$7,226
• − Property taxes: −$1,297
• − Insurance: −$645
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$3,753
• Taxable income: $4,270
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $5,083/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

+2766.7% since first listed

24 events — show timeline

• 2026-04-06 Price Changed $129,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $129,000 REALCOMP
• 2025-12-19 Listed $135,000 REALCOMP
• 2025-12-19 Listed $135,000 MiRealSource-MiMLS
• 2023-07-06 Listing Removed — MiRealSource-MiMLS
• 2023-07-06 Listing Removed — REALCOMP
• 2023-07-01 Price Changed $160,000 MiRealSource-MiMLS
• 2023-07-01 Price Changed $160,000 REALCOMP
• 2023-05-22 Price Changed $135,000 MiRealSource-MiMLS
• 2023-05-22 Price Changed $135,000 REALCOMP
• 2023-05-12 Price Changed $139,000 MiRealSource-MiMLS
• 2023-05-12 Price Changed $139,000 REALCOMP
• 2023-04-20 Price Changed $144,000 MiRealSource-MiMLS
• 2023-04-20 Price Changed $144,000 REALCOMP
• 2023-04-14 Price Changed $154,000 MiRealSource-MiMLS
• 2023-04-14 Price Changed $154,000 REALCOMP
• 2023-04-09 Listed $159,900 MiRealSource-MiMLS
• 2023-04-09 Listed $159,900 REALCOMP
• 2020-11-20 Sold (MLS) $5,001 MiRealSource-MiMLS
• 2020-11-20 Sold (MLS) $5,001 REALCOMP
• 2020-06-10 Pending — MiRealSource-MiMLS
• 2020-06-10 Pending — REALCOMP
• 2020-03-05 Listed $4,500 MiRealSource-MiMLS
• 2020-03-05 Listed $4,500 REALCOMP

Property tax history

+32.5%/yr

Latest (2025): $1,297 · -37.2% YoY. Source: county tax records.