15493 Kentucky St · Detroit, MI 48238

$21,000

3 bd · 1.0 ba · 1,349 sqft · SingleFamily public records · 78 Days on market

Built 1929 3,920 sqft lot $16/sqft · 77% 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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

Key facts

• 3,920 sq ft lot
• Garage
• Built 1929

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $21k.

Deal economics

• At list price, monthly cash flow is $838 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $21k).
• Recommended offer: $20k (6.0% below list) — sets the bar for market timing.
• Cap rate 54.2% 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 fast (+6.1%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 45% of the median local income ($33k/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 $145 of loan paydown is wiped out by about $630 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 + 6.1% 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 78 days — a 6% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $14k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,740 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1929 — 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: 5.92% ✓
• Cap rate: 54.16%
• Cash-on-cash: 170.95%
• DSCR: 8.61
• GRM: 1.4

CMA / ARV

• ARV (median comp): $90,704
• List price: $21,000
• Delta: -76.85%
• 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
15771 Birwood St	0.30mi	3/1.5	1,290 (-4%)	0mo	$128,995	$100	77
15703 Northlawn St	0.27mi	4/1.0 (+1)	1,365 (+1%)	5mo	$70,000	$51	76
15374 Birwood St	0.29mi	4/2.0 (+1)	1,378 (+2%)	4mo	$132,000	$96	70
14931 Monte Vista St	0.60mi	3/1.5	1,307 (-3%)	0mo	$35,000	$27	65
15379 Woodingham Dr	0.49mi	4/1.0 (+1)	1,300 (-4%)	4mo	$7,000	$5	63
16500 Griggs St	0.50mi	3/1.5	1,427 (+6%)	4mo	$130,000	$91	62
15088 Appoline St	0.64mi	3/1.0	1,300 (-4%)	5mo	$70,000	$54	60
16800 Ilene St	0.63mi	3/2.5	1,298 (-4%)	1mo	$210,000	$162	57
15087 Pinehurst St	0.49mi	3/1.0	1,497 (+11%)	4mo	$55,000	$37	56
16204 Wisconsin St	0.40mi	3/1.5	1,536 (+14%)	1mo	$163,000	$106	55
14889 Manor St	0.67mi	4/2.5 (+1)	1,375 (+2%)	0mo	$159,000	$116	54
15841 Steel St	0.69mi	3/1.0	1,460 (+8%)	1mo	$50,000	$34	53

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.19×
• Total profit: $54,021
• Equity at exit: $3,131

10-year hold

• IRR: —
• Equity multiple: 23.71×
• Total profit: $133,558
• Equity at exit: $1,816

Cash invested: $5,880 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$110
• Tax est. 1.5%: −$26 /mo · $315/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $838

Break-even live

Break-even rent $184

Max offer price $21,000

Occupancy floor 28%

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: $5,250
• Closing costs: $630
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	0.13mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.15mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	44d	1	0.24mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.25mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.31mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.31mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	0.33mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	0.36mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.40mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	0.43mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	0.49mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.53mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	0.58mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	0.59mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	0.69mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.71mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	0.73mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	0.74mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	0.74mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.74mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	0.75mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	0.76mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.86mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.86mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	44d	1	0.90mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	24d	1	0.90mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	20d	1	0.90mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	0.91mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.96mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	0.99mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	17d	1	0.99mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	1.07mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	1.08mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	1.10mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	24d	1	1.10mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.11mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	1.11mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	1.15mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	20d	1	1.15mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	1.16mi

Listing history 32 events

1. 2026-06-18
   days on market $21,000 Active 78 DOM
2. 2026-06-17
   days on market $21,000 Active 77 DOM
3. 2026-06-15
   days on market $21,000 Active 75 DOM
4. 2026-06-13
   days on market $21,000 Active 73 DOM
5. 2026-06-13
   days on market $21,000 Active 72 DOM
6. 2026-06-09
   days on market $21,000 Active 69 DOM
7. 2026-06-08
   days on market $21,000 Active 68 DOM
8. 2026-06-07
   days on market $21,000 Active 67 DOM
9. 2026-06-04
   days on market $21,000 Active 64 DOM
10. 2026-06-03
    days on market $21,000 Active 63 DOM
11. 2026-06-02
    days on market $21,000 Active 62 DOM
12. 2026-06-01
    days on market $21,000 Active 61 DOM
13. 2026-05-31
    days on market $21,000 Active 60 DOM
14. 2026-05-02
    price $21,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

15. 2026-05-02
    price $21,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

16. 2026-04-17
    price $25,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

17. 2026-04-16
    price $25,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

18. 2026-04-13
    price $26,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

19. 2026-04-13
    price $26,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

20. 2026-04-09
    price $29,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

21. 2026-04-09
    price $29,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

22. 2026-04-02
    listed $35,000 Active 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

23. 2026-04-02
    listed $35,000 Active 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

24. 2026-03-30
    historical $35,000 143-char remark

    Show marketing remark (143 chars)

    Great opportunity to bring this property back to life. Fire damage present, but tons of potential for renovation or investment. Priced to sell!

25. 2026-03-26
    historical
26. 2026-03-26
    historical
27. 2025-12-13
    price $55,000
28. 2025-12-13
    price $55,000
29. 2025-12-03
    price $60,000
30. 2025-12-02
    price $60,000
31. 2025-11-18
    listed $76,000 Active
32. 2025-11-18
    listed $76,000 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 ≥97°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: $14,928
• − Mortgage interest: −$1,176
• − Property taxes: −$315
• − Insurance: −$105
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$611
• Taxable income: $10,333
• Est. tax owed @ 24.0%: −$2,480
• After-tax cash flow: $7,572/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-72.4% since first listed

19 events — show timeline

• 2026-05-02 Price Changed $21,000 MiRealSource-MiMLS
• 2026-05-02 Price Changed $21,000 REALCOMP
• 2026-04-17 Price Changed $25,000 MiRealSource-MiMLS
• 2026-04-16 Price Changed $25,000 REALCOMP
• 2026-04-13 Price Changed $26,000 MiRealSource-MiMLS
• 2026-04-13 Price Changed $26,000 REALCOMP
• 2026-04-09 Price Changed $29,000 MiRealSource-MiMLS
• 2026-04-09 Price Changed $29,000 REALCOMP
• 2026-04-02 Listed $35,000 REALCOMP
• 2026-04-02 Listed $35,000 MiRealSource-MiMLS
• 2026-03-30 Coming Soon $35,000 MiRealSource-MiMLS
• 2026-03-26 Listing Removed — MiRealSource-MiMLS
• 2026-03-26 Listing Removed — REALCOMP
• 2025-12-13 Price Changed $55,000 MiRealSource-MiMLS
• 2025-12-13 Price Changed $55,000 REALCOMP
• 2025-12-03 Price Changed $60,000 MiRealSource-MiMLS
• 2025-12-02 Price Changed $60,000 REALCOMP
• 2025-11-18 Listed $76,000 MiRealSource-MiMLS
• 2025-11-18 Listed $76,000 REALCOMP

Property tax history

+14.1%/yr

Latest (2025): $1,211 · -48.3% YoY. Source: county tax records.