14065 Manning St · Detroit, MI 48205

$20,500

3 bd · 2.0 ba · 1,629 sqft · SingleFamily public records · 84 Days on market

Built 1922 3,920 sqft lot $13/sqft · 80% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the latest offering from the Detroit land Bank Authority. Calling all investors. We give you a rare opportunity own 2 homes on one lot. 3 Bedroom brick colonial on the street and a 2 bedroom ranch in the back where the garage would be. Both homes need total rehab, but it could make for a great investment. Live in one and rent out the other. Bring your ideas and your hard hat and lets get to work. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

Key facts

• 3,920 sq ft lot
• Built 1922
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (6.0% below list) — sets the bar for market timing.
• Cap rate 60.0% 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 rising (+1.3%/yr); 373 active listings in the ZIP; 24 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 41% of the median local income ($39k/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 $142 of loan paydown is wiped out by about $615 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 + 1.3% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,270 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1922 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.54% ✓
• Cap rate: 60.03%
• Cash-on-cash: 191.93%
• DSCR: 9.54
• GRM: 1.3

CMA / ARV

• ARV (median comp): $104,540
• List price: $20,500
• Delta: -80.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14038 Fairmount Dr	0.21mi	3/1.5	1,684 (+3%)	4mo	$119,000	$71	79
13860 E State Fair Ave	0.18mi	3/1.5	1,850 (+14%)	1mo	$151,000	$82	67
19559 Pelkey St	0.43mi	4/2.0 (+1)	1,765 (+8%)	2mo	$27,700	$16	59
19591 Joann St	0.61mi	3/1.0	1,639 (+1%)	9mo	$85,000	$52	59
13351 Tacoma St	0.48mi	2/1.0 (-1)	1,521 (-7%)	2mo	$95,000	$62	56
19738 Fairport St	0.63mi	3/1.0	1,716 (+5%)	3mo	$75,000	$44	55
14841 Maddelein St	0.58mi	3/1.0	1,516 (-7%)	3mo	$20,000	$13	55
15211 Fairmount Dr	0.72mi	3/2.0	1,500 (-8%)	1mo	$70,000	$47	52
14051 Edmore Dr	0.43mi	3/1.0	1,389 (-15%)	5mo	$89,000	$64	48
14973 Bringard Dr	0.68mi	3/1.5	1,431 (-12%)	2mo	$60,000	$42	44
14289 Linnhurst St	0.67mi	4/1.0 (+1)	1,544 (-5%)	8mo	$83,000	$54	44
13630 Eastwood St	0.62mi	4/1.5 (+1)	1,403 (-14%)	8mo	$135,000	$96	34

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.23×
• Total profit: $52,952
• Equity at exit: $3,057

10-year hold

• IRR: —
• Equity multiple: 20.63×
• Total profit: $112,684
• Equity at exit: $1,772

Cash invested: $5,740 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$108
• Tax est. 1.5%: −$26 /mo · $308/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $918

Break-even live

Break-even rent $179

Max offer price $20,500

Occupancy floor 27%

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: $5,125
• Closing costs: $615
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.36mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.43mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	43d	1	0.46mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	11d	1	0.47mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	17d	1	0.68mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	17d	1	0.73mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	0.74mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	17d	1	0.77mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.97mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	0.97mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	43d	1	1.00mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	17d	1	1.06mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	1.07mi
20553 Hamburg St Detroit, MI	3.0	1.0	1074	$1,300	$1.21	3d	1	1.09mi
20290 Annott St Detroit, MI	3.0	1.0	1300	$1,250	$0.96	17d	1	1.26mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	1.26mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	1.29mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	5d	1	1.40mi
17851 Strasburg St Detroit, MI	3.0	1.0	1079	$1,100	$1.02	17d	1	1.42mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	1.43mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.47mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	10d	1	1.48mi
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	10d	1	1.48mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	24d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $20,500 Active 84 DOM
2. 2026-06-17
   days on market $20,500 Active 83 DOM
3. 2026-06-15
   days on market $20,500 Active 81 DOM
4. 2026-06-13
   days on market $20,500 Active 79 DOM
5. 2026-06-13
   days on market $20,500 Active 78 DOM
6. 2026-06-09
   days on market $20,500 Active 75 DOM
7. 2026-06-08
   days on market $20,500 Active 74 DOM
8. 2026-06-07
   days on market $20,500 Active 73 DOM
9. 2026-06-04
   days on market $20,500 Active 70 DOM
10. 2026-06-03
    days on market $20,500 Active 69 DOM
11. 2026-06-02
    days on market $20,500 Active 68 DOM
12. 2026-06-01
    days on market $20,500 Active 67 DOM
13. 2026-05-31
    days on market $20,500 Active 66 DOM
14. 2026-03-26
    listed $20,500 Active 1013-char remark

    Show marketing remark (1013 chars)

    Welcome to the latest offering from the Detroit land Bank Authority. Calling all investors. We give you a rare opportunity own 2 homes on one lot. 3 Bedroom brick colonial on the street and a 2 bedroom ranch in the back where the garage would be. Both homes need total rehab, but it could make for a great investment. Live in one and rent out the other. Bring your ideas and your hard hat and lets get to work. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

15. 2026-03-26
    listed $20,500 Active 1013-char remark

    Show marketing remark (1013 chars)

    Welcome to the latest offering from the Detroit land Bank Authority. Calling all investors. We give you a rare opportunity own 2 homes on one lot. 3 Bedroom brick colonial on the street and a 2 bedroom ranch in the back where the garage would be. Both homes need total rehab, but it could make for a great investment. Live in one and rent out the other. Bring your ideas and your hard hat and lets get to work. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

16. 2025-05-16
    historical
17. 2025-05-16
    historical
18. 2025-04-14
    listed $20,500 Active
19. 2025-04-14
    listed $20,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°F today · 14 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: $16,097
• − Mortgage interest: −$1,148
• − Property taxes: −$308
• − Insurance: −$102
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$596
• Taxable income: $11,367
• Est. tax owed @ 24.0%: −$2,728
• After-tax cash flow: $8,289/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-03-26 Listed $20,500 MiRealSource-MiMLS
• 2026-03-26 Listed $20,500 REALCOMP
• 2025-05-16 Listing Removed — MiRealSource-MiMLS
• 2025-05-16 Listing Removed — REALCOMP
• 2025-04-14 Listed $20,500 REALCOMP
• 2025-04-14 Listed $20,500 MiRealSource-MiMLS

Property tax history

-3.8%/yr

Latest (2017): $1,144 · -2.6% YoY. Source: county tax records.