12908 Grayfield St · Detroit, MI 48223

$85,000

3 bd · 1.0 ba · 1,130 sqft · SingleFamily public records · 32 Days on market

Built 1950 5,227 sqft lot $75/sqft · 18% below area Est $104k · 18% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +8.3/10.0
• 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

Charming ranch-style home with great potential in a quiet, established neighborhood! This home offers a functional layout, spacious living areas, and an excellent opportunity to add your personal touches and updates. Conveniently located close to shopping, dining, and easy freeway access, making daily commuting a breeze. Whether you're a first-time buyer, investor, or someone looking to customize a home to your style, this property is full of possibilities. Don't miss the chance to make it your own!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• Other: Lot dimensions approximately 40 x 135 (0.12 acre); Located near I-96 and Telegraph Road; cross streets Davison and Glendale

Exterior

• Parking: Detached 2-car garage; Paved access
• Utilities: Public water; Public sewer
• Home design: Single-family residential; One story; Ground-level entry with steps; Brick construction
• Construction: Brick exterior
• Exterior features: Enclosed porch; Porch; Backyard is fenced

Interior

• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central air conditioning
• Interior features: Unfurnished; Unfinished basement; Basement present

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 $253 ($3k/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: $82k (3.0% 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: 158 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 95% 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 30% 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 $588 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 + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $85k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.33% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.73%
• DSCR: 1.57
• GRM: 6.3

CMA / ARV

• ARV (median comp): $103,842
• List price: $85,000
• Delta: -18.14%
• 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
12705 Beaverland St	0.22mi	3/1.5	1,092 (-3%)	0mo	$63,000	$58	82
12878 Bramell St	0.24mi	3/1.5	1,184 (+5%)	4mo	$155,000	$131	76
12723 Hazelton St	0.14mi	3/1.0	993 (-12%)	3mo	$65,500	$66	71
12707 Hazelton St	0.15mi	3/1.0	988 (-13%)	16mo	$110,000	$111	58
11768 Hazelton	0.60mi	3/1.0	1,233 (+9%)	1mo	$197,000	$160	56
12956 Wormer	0.50mi	2/1.0 (-1)	1,200 (+6%)	8mo	$99,999	$83	55
11770 Riverdale	0.61mi	3/2.0	1,228 (+9%)	0mo	$190,000	$155	53
14463 Bramell St	0.71mi	3/2.0	1,179 (+4%)	5mo	$140,000	$119	52
13955 Dolphin St	0.55mi	3/1.0	1,034 (-8%)	10mo	$55,000	$53	52
13563 Lenore	0.60mi	2/1.0 (-1)	1,209 (+7%)	8mo	$113	—	49
11759 W Parkway St	0.63mi	3/1.0	1,037 (-8%)	10mo	$175,000	$169	48
11752 Beaverland	0.64mi	3/1.0	1,250 (+11%)	14mo	$179,500	$144	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $2,361
• Equity at exit: $12,674

10-year hold

• IRR: 12.2%
• Equity multiple: 1.97×
• Total profit: $22,968
• Equity at exit: $7,349

Cash invested: $23,800 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,130 high
• Mortgage (P&I): −$446
• Tax from tax record: −$159 /mo · $1,904/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $253

Break-even live

Break-even rent $810

Max offer price $85,000

Occupancy floor 73%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23610 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.27mi
23626 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.28mi
23614 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.29mi
23618 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.29mi
23602 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.29mi
23606 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.29mi
23622 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.29mi
23636 Schoolcraft Rd Unit -209 Detroit, MI	2.0	1.0	900	$865	$0.96	43d	1	0.31mi
23640 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.31mi
23630 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.31mi
23636 Schoolcraft Rd Apt 212 Detroit, MI	2.0	1.0	750	$985	$1.31	43d	1	0.31mi
23636 Schoolcraft Rd Unit 109 Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	0.31mi
23634 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.31mi
14088 Riverview St Unit 207 Detroit, MI	2.0	1.0	750	$975	$1.30	43d	1	0.32mi
14088 Riverview St Unit 208 Detroit, MI	2.0	1.0	750	$985	$1.31	43d	1	0.32mi
14088 Riverview St Unit 108 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	0.32mi
23652 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	24d	1	0.32mi
14092 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.32mi
14086 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	44d	1	0.32mi
14096 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	0.32mi
23644 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.33mi
23648 Schoolcraft Rd Detroit, MI	2.0	1.0	750	$1,050	$1.40	43d	1	0.33mi
14000 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.33mi
14020 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.33mi
23656 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.33mi
14010 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.34mi
14110 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.34mi
14114 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	20d	1	0.34mi
14005 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
14074 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
14072 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
14078 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
14068 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
14038 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
23814 Schoolcraft Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.35mi
14062 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.36mi
14030 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.36mi
14122 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	0.36mi
14025 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.36mi
14066 Riverview St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.36mi

Listing history 18 events

1. 2026-06-17
   statusdays on market $85,000 Pending 32 DOM
2. 2026-06-15
   days on market $85,000 Active 31 DOM
3. 2026-06-13
   days on market $85,000 Active 29 DOM
4. 2026-06-13
   days on market $85,000 Active 28 DOM
5. 2026-06-09
   days on market $85,000 Active 25 DOM
6. 2026-06-08
   days on market $85,000 Active 24 DOM
7. 2026-06-07
   days on market $85,000 Active 23 DOM
8. 2026-06-04
   days on market $85,000 Active 20 DOM
9. 2026-06-03
   days on market $85,000 Active 19 DOM
10. 2026-06-02
    days on market $85,000 Active 18 DOM
11. 2026-06-01
    days on market $85,000 Active 17 DOM
12. 2026-05-31
    days on market $85,000 Active 16 DOM
13. 2026-05-17
    price $85,000 504-char remark

    Show marketing remark (504 chars)

    Charming ranch-style home with great potential in a quiet, established neighborhood! This home offers a functional layout, spacious living areas, and an excellent opportunity to add your personal touches and updates. Conveniently located close to shopping, dining, and easy freeway access, making daily commuting a breeze. Whether you're a first-time buyer, investor, or someone looking to customize a home to your style, this property is full of possibilities. Don't miss the chance to make it your own!

14. 2026-05-17
    price $85,000 510-char remark

    Show marketing remark (504 chars)

    Charming ranch-style home with great potential in a quiet, established neighborhood! This home offers a functional layout, spacious living areas, and an excellent opportunity to add your personal touches and updates. Conveniently located close to shopping, dining, and easy freeway access, making daily commuting a breeze. Whether you're a first-time buyer, investor, or someone looking to customize a home to your style, this property is full of possibilities. Don't miss the chance to make it your own!

15. 2026-05-15
    listed $95,000 Active 504-char remark

    Show marketing remark (504 chars)

    Charming ranch-style home with great potential in a quiet, established neighborhood! This home offers a functional layout, spacious living areas, and an excellent opportunity to add your personal touches and updates. Conveniently located close to shopping, dining, and easy freeway access, making daily commuting a breeze. Whether you're a first-time buyer, investor, or someone looking to customize a home to your style, this property is full of possibilities. Don't miss the chance to make it your own!

16. 2026-05-15
    listed $95,000 Active 510-char remark

    Show marketing remark (504 chars)

    Charming ranch-style home with great potential in a quiet, established neighborhood! This home offers a functional layout, spacious living areas, and an excellent opportunity to add your personal touches and updates. Conveniently located close to shopping, dining, and easy freeway access, making daily commuting a breeze. Whether you're a first-time buyer, investor, or someone looking to customize a home to your style, this property is full of possibilities. Don't miss the chance to make it your own!

17. 1995-12-12
    soldstatus $56,000
18. 1992-03-31
    soldstatus $37,200

ⓘ 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: $1,904 · $159/mo
• Projected year-2 tax: $1,904 · $159/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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,555
• − Mortgage interest: −$4,761
• − Property taxes: −$1,904
• − Insurance: −$425
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$2,473
• Taxable income: $1,823
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $2,593/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

+128.5% since first listed

8 events — show timeline

• 2026-06-16 Pending — MiRealSource-MiMLS
• 2026-06-16 Pending — REALCOMP
• 2026-05-17 Price Changed $85,000 MiRealSource-MiMLS
• 2026-05-17 Price Changed $85,000 REALCOMP
• 2026-05-15 Listed $95,000 REALCOMP
• 2026-05-15 Listed $95,000 MiRealSource-MiMLS
• 1995-12-12 Sold (Public Records) $56,000 Public Records
• 1992-03-31 Sold (Public Records) $37,200 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,904 · -0.7% YoY. Source: county tax records.