2011 Florence St · Detroit, MI 48203

$50,000

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 23 Days on market

Built 1925

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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 +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

Charming brick Detroit home featuring approximately 1,248 sq. ft. of living space with 4 bedrooms and 1 bath. Located in the established Martin Park/Hamilton Park area, this property offers classic character and strong potential for a homeowner or investor alike. Major updates include a brand-new roof completed in November 2025. Spacious layout with great natural light and endless possibilities to make it your own.

Key facts

• Brand new roof
• Natural light
• Brick home

Tags

• BRICK HOME
• BRAND NEW ROOF
• SPACIOUS LAYOUT
• NATURAL LIGHT

Property features AI

Exterior

• Home design: Built in 1925
• Construction: Living area approximately 1248
• Exterior features: Located in the Martin Park subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.5% vs local median 10.0% 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: 219 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 45% of the median local income ($38k/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 $346 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.87% ✓
• Cap rate: 22.48%
• Cash-on-cash: 57.79%
• DSCR: 3.57
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $114,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16570 Inverness St	0.12mi	4/2.0	1,300 (+4%)	3mo	$120,000	$92	81
16177 Inverness St	0.14mi	3/1.0 (-1)	1,404 (+12%)	4mo	$70,000	$50	65
241 Moss St	0.51mi	3/1.0 (-1)	1,300 (+4%)	3mo	$172,500	$133	62
15904 Parkside St	0.58mi	3/1.5 (-1)	1,204 (-4%)	2mo	$140,000	$116	59
15877 Baylis St	0.30mi	3/1.0 (-1)	1,400 (+12%)	5mo	$71,000	$51	56
15840 Lawton St	0.52mi	3/1.0 (-1)	1,176 (-6%)	7mo	$38,000	$32	56
16157 Linwood St	0.39mi	3/1.0 (-1)	1,346 (+8%)	16mo	$76,000	$56	51
15834 Baylis St	0.32mi	3/1.0 (-1)	1,065 (-15%)	10mo	$111,500	$105	47
16132 Wildemere St	0.60mi	3/1.0 (-1)	1,318 (+6%)	18mo	$129,900	$99	42
220 Moss St	0.53mi	3/1.5 (-1)	1,379 (+10%)	12mo	$186,000	$135	41
15512 Log Cabin St	0.46mi	3/1.5 (-1)	1,122 (-10%)	19mo	$17,000	$15	38
16541 Parkside St	0.56mi	3/1.0 (-1)	1,422 (+14%)	15mo	$106,500	$75	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.4%
• Equity multiple: 3.50×
• Total profit: $34,934
• Equity at exit: $7,455

10-year hold

• IRR: 61.4%
• Equity multiple: 7.15×
• Total profit: $86,088
• Equity at exit: $4,323

Cash invested: $14,000 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 219
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$262
• Tax from tax record: −$176 /mo · $2,111/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $674

Break-even live

Break-even rent $581

Max offer price $50,000

Occupancy floor 48%

Sensitivity live

Price	-10% $703	-5% $688	+0% $674	+5% $660	+10% $646
Rent	-10% $561	-5% $618	+0% $674	+5% $731	+10% $788
Rate	-1.0pp $699	-0.5pp $687	base $674	+0.5pp $661	+1.0pp $648

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	19d	1	0.33mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	18d	1	0.54mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	45d	1	0.85mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	19d	1	1.09mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	19d	1	1.11mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	6d	1	1.15mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	21d	1	1.15mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	19d	1	1.19mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	45d	1	1.24mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	14d	1	1.26mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	5d	1	1.28mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	45d	1	1.30mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	19d	1	1.34mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	18d	1	1.38mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	1.40mi

Listing history 14 events

1. 2026-06-21
   days on market $50,000 Active 23 DOM
2. 2026-06-18
   days on market $50,000 Active 20 DOM
3. 2026-06-17
   days on market $50,000 Active 19 DOM
4. 2026-06-15
   days on market $50,000 Active 17 DOM
5. 2026-06-13
   days on market $50,000 Active 15 DOM
6. 2026-06-13
   days on market $50,000 Active 14 DOM
7. 2026-06-09
   days on market $50,000 Active 11 DOM
8. 2026-06-08
   days on market $50,000 Active 10 DOM
9. 2026-06-07
   days on market $50,000 Active 9 DOM
10. 2026-06-04
    days on market $50,000 Active 6 DOM
11. 2026-06-03
    days on market $50,000 Active 5 DOM
12. 2026-06-01
    days on market $50,000 Active 3 DOM
13. 2026-05-31
    days on market $50,000 Active 2 DOM
14. 2026-05-29
    listed $50,000 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: $2,111 · $176/mo
• Projected year-2 tax: $2,111 · $176/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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,213
• − Mortgage interest: −$2,801
• − Property taxes: −$2,111
• − Insurance: −$250
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$1,455
• Taxable income: $7,843
• Est. tax owed @ 24.0%: −$1,882
• After-tax cash flow: $6,209/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): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -90.13%
• Current HPI: 297.0176
• 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

1 event — show timeline

• 2026-05-29 Listed $50,000 FSBO.com

Property tax history

+0.6%/yr

Latest (2025): $2,111 · -17.2% YoY. Source: county tax records.