15756 Heyden St · Detroit, MI 48223

$145,000

4 bd · 1.0 ba · 1,198 sqft · SingleFamily public records · 20 Days on market

Built 1950 4,792 sqft lot $121/sqft · 21% above area Est $120k · 21% over

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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 +17.3/30.0
• DSCR +5.4/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom home featuring 1 full bath and 1 half bath. This property offers a comfortable living room, separate dining area, and a clean basement with plenty of extra storage or usable space. A great opportunity for a homeowner or investor looking for a well-laid-out home in Detroit. BATVAI

Key facts

• 4,792 sq ft lot
• Built 1950
• Listed 20 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Single-family residence; Two-story with ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.11 acres (40 x 115)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 7 total rooms; Unfinished interior-entry basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 10.1% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 161 active listings in the ZIP; 31 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 39% 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 $1k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($143k) 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.
• Current owner paid $66k; list at $145k implies a 119% 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 $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 1.01% ✓
• Cap rate: 7.17%
• Cash-on-cash: 3.12%
• DSCR: 1.14
• GRM: 8.3

CMA / ARV

• ARV (median comp): $120,076
• List price: $145,000
• Delta: 20.76%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15751 Vaughan St	0.03mi	3/1.5 (-1)	1,244 (+4%)	2mo	$110,000	$88	83
15776 Evergreen Rd	0.11mi	3/1.0 (-1)	1,122 (-6%)	4mo	$60,000	$53	76
15776 Vaughan St	0.06mi	3/1.5 (-1)	1,255 (+5%)	9mo	$165,000	$131	75
15518 Kentfield St	0.11mi	3/1.5 (-1)	1,092 (-9%)	4mo	$165,500	$152	70
15836 Patton St	0.23mi	3/1.0 (-1)	1,122 (-6%)	6mo	$42,500	$38	69
15754 Evergreen Rd	0.11mi	3/1.0 (-1)	1,091 (-9%)	9mo	$67,000	$61	68
15452 Stout St	0.19mi	3/1.0 (-1)	1,110 (-7%)	8mo	$152,000	$137	67
15340 Heyden St	0.27mi	3/1.0 (-1)	1,125 (-6%)	9mo	$87,000	$77	65
16122 Trinity St	0.49mi	3/2.5 (-1)	1,152 (-4%)	4mo	$169,900	$147	57
16871 Pierson St	0.71mi	3/1.0 (-1)	1,242 (+4%)	3mo	$130,000	$105	54
15907 Blackstone St	0.55mi	4/1.0	1,097 (-8%)	9mo	$95,000	$87	53
16115 Westbrook St	0.61mi	3/1.5 (-1)	1,312 (+10%)	4mo	$77,400	$59	45

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: -11.3%
• Equity multiple: 0.59×
• Total profit: $-16,714
• Equity at exit: $21,620

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-5,684
• Equity at exit: $12,537

Cash invested: $40,600 (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: 161
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,458 high
• Mortgage (P&I): −$760
• Tax from tax record: −$226 /mo · $2,706/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $106

Break-even live

Break-even rent $1,324

Max offer price $145,000

Occupancy floor 88%

Sensitivity live

Price	-10% $188	-5% $147	+0% $106	+5% $65	+10% $24
Rent	-10% $-9	-5% $48	+0% $106	+5% $163	+10% $221
Rate	-1.0pp $179	-0.5pp $143	base $106	+0.5pp $68	+1.0pp $30

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	44d	1	0.06mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	16d	1	0.10mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	17d	1	0.20mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	25d	1	0.24mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	44d	1	0.34mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	6d	1	0.42mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	44d	1	0.65mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	17d	1	0.83mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	19d	1	0.83mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	44d	1	0.91mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	12d	1	0.99mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	44d	1	1.05mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	44d	1	1.07mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	17d	1	1.12mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	25d	1	1.20mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	44d	1	1.20mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	17d	1	1.23mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	6d	1	1.26mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	25d	1	1.27mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	25d	1	1.28mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	17d	1	1.29mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	17d	1	1.31mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	44d	1	1.32mi
18450 Edinborough Rd Detroit, MI	3.0	1.0	1000	$1,500	$1.50	44d	1	1.36mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	44d	1	1.36mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	17d	1	1.40mi
18437 Trinity St Detroit, MI	3.0	1.0	875	$1,364	$1.56	16d	1	1.41mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	17d	1	1.42mi
18556 Kentfield St Detroit, MI	3.0	1.0	952	$1,250	$1.31	3d	1	1.43mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	1.44mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	17d	1	1.47mi

Listing history 10 events

1. 2026-05-31
   days on market $145,000 Active 20 DOM
2. 2026-05-11
   listed $145,000 Active 299-char remark
3. 2026-05-11
   listed $145,000 Active 299-char remark
4. 2026-05-11
   historical
5. 2026-05-11
   historical
6. 2026-04-29
   price $135,000
7. 2026-04-29
   price $135,000
8. 2026-04-20
   listed $145,000 Active
9. 2026-04-20
   listed $145,000 Active
10. 2023-05-18
    soldstatus $66,300

ⓘ 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: $2,706 · $226/mo
• Projected year-2 tax: $2,706 · $226/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 2/10 Low 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,499
• − Mortgage interest: −$8,122
• − Property taxes: −$2,706
• − Insurance: −$725
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$4,218
• Taxable loss: −$1,072
• Est. tax savings @ 24.0%: +$257
• After-tax cash flow: $1,526/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

+118.7% since first listed

11 events — show timeline

• 2026-06-01 Listing Removed — REALCOMP
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Listed $145,000 REALCOMP
• 2026-05-11 Listing Removed — REALCOMP
• 2026-05-11 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Listed $145,000 MiRealSource-MiMLS
• 2026-04-29 Price Changed $135,000 MiRealSource-MiMLS
• 2026-04-29 Price Changed $135,000 REALCOMP
• 2026-04-20 Listed $145,000 REALCOMP
• 2026-04-20 Listed $145,000 MiRealSource-MiMLS
• 2023-05-18 Sold (Public Records) $66,300 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,706 · -46.8% YoY. Source: county tax records.