15211 Fairmount Dr · Detroit, MI 48205

$75,000

3 bd · 1.0 ba · 1,179 sqft · SingleFamily public records · 24 Days on market

Built 1941 4,356 sqft lot Est $88k · 15% 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 +30.0/30.0
• ARV discount +14.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

OPORTUNITY!!! New on the market this gem in a perfect location. This nice brick bungalow is located in a great area near to main streets, schools, big and important stores, and shopping centers. This is an excellent property for investors, fix up buyers or anyone who would like to take the opportunity to get this house. You will find a nice size living, dinning, 2 bedrooms, 1 full bath 1st floor, 1 nice big master bedroom upstairs with 1 full bath and basement, driveway and garage detached. Property is sold AS IS. No seller financing.

Key facts

• Brick bungalow
• Detached garage
• 4,356 sq ft lot

Tags

• BRICK BUNGALOW
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 (+1.3%/yr); 373 active listings in the ZIP; 40 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 $519 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 + 1.3% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 31y ago 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 $64k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — 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: 1.77% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.80%
• DSCR: 2.10
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $88,425
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15011 Bringard Dr	0.14mi	3/1.0	1,208 (+2%)	2mo	$125,000	$103	88
15275 Eastburn St	0.09mi	3/1.0	1,100 (-7%)	2mo	$56,000	$51	84
14910 Fairmount Dr	0.17mi	3/1.0	1,116 (-5%)	1mo	$15,000	$13	82
14788 Rossini Dr	0.26mi	3/1.0	1,099 (-7%)	1mo	$82,000	$75	76
16092 Manning St	0.64mi	3/1.5	1,200 (+2%)	0mo	$20,000	$17	65
15644 Carlisle St	0.40mi	3/1.0	1,055 (-10%)	0mo	$129,900	$123	64
14078 Bringard Dr	0.67mi	3/1.5	1,110 (-6%)	2mo	$76,000	$68	56
16267 Edmore Dr	0.70mi	3/1.0	1,100 (-7%)	1mo	$122,500	$111	55
19953 Regent Dr	0.55mi	3/1.0	1,038 (-12%)	2mo	$55,000	$53	53
14076 Rossini Dr	0.67mi	3/1.0	1,055 (-10%)	0mo	$90,000	$85	51
16260 Bringard Dr	0.67mi	3/1.0	1,036 (-12%)	0mo	$80,000	$77	48
14068 Carlisle St	0.73mi	3/1.0	1,020 (-14%)	2mo	$55,000	$54	42

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: 16.2%
• Equity multiple: 1.64×
• Total profit: $13,372
• Equity at exit: $11,183

10-year hold

• IRR: 23.4%
• Equity multiple: 2.85×
• Total profit: $38,842
• Equity at exit: $6,485

Cash invested: $21,000 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,331 high
• Mortgage (P&I): −$393
• Tax from tax record: −$193 /mo · $2,312/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $434

Break-even live

Break-even rent $781

Max offer price $75,000

Occupancy floor 62%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	43d	1	0.25mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	14d	1	0.40mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.53mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	4d	1	0.64mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.64mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	43d	1	0.66mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.68mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	0.68mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.71mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.72mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.73mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	14d	1	0.74mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.74mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.75mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	24d	1	0.78mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	0.80mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.86mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	11d	1	0.96mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	0.96mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.07mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.08mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	1.12mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.13mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	1.14mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	1.17mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	1.20mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.25mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	1.30mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.34mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	1.34mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	1.36mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	1.42mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	4d	1	1.42mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	1.43mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	1.43mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	17d	1	1.44mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	1.45mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	1.46mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	1.48mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.49mi

Listing history 12 events

1. 2026-03-20
   status Pending 540-char remark

   Show marketing remark (540 chars)

   OPORTUNITY!!! New on the market this gem in a perfect location. This nice brick bungalow is located in a great area near to main streets, schools, big and important stores, and shopping centers. This is an excellent property for investors, fix up buyers or anyone who would like to take the opportunity to get this house. You will find a nice size living, dinning, 2 bedrooms, 1 full bath 1st floor, 1 nice big master bedroom upstairs with 1 full bath and basement, driveway and garage detached. Property is sold AS IS. No seller financing.

2. 2026-03-20
   status Pending

   Show marketing remark (540 chars)

   OPORTUNITY!!! New on the market this gem in a perfect location. This nice brick bungalow is located in a great area near to main streets, schools, big and important stores, and shopping centers. This is an excellent property for investors, fix up buyers or anyone who would like to take the opportunity to get this house. You will find a nice size living, dinning, 2 bedrooms, 1 full bath 1st floor, 1 nice big master bedroom upstairs with 1 full bath and basement, driveway and garage detached. Property is sold AS IS. No seller financing.

3. 2026-02-24
   listed $75,000 Active 540-char remark

   Show marketing remark (540 chars)

   OPORTUNITY!!! New on the market this gem in a perfect location. This nice brick bungalow is located in a great area near to main streets, schools, big and important stores, and shopping centers. This is an excellent property for investors, fix up buyers or anyone who would like to take the opportunity to get this house. You will find a nice size living, dinning, 2 bedrooms, 1 full bath 1st floor, 1 nice big master bedroom upstairs with 1 full bath and basement, driveway and garage detached. Property is sold AS IS. No seller financing.

4. 2026-02-24
   listed $75,000 Active

   Show marketing remark (540 chars)

   OPORTUNITY!!! New on the market this gem in a perfect location. This nice brick bungalow is located in a great area near to main streets, schools, big and important stores, and shopping centers. This is an excellent property for investors, fix up buyers or anyone who would like to take the opportunity to get this house. You will find a nice size living, dinning, 2 bedrooms, 1 full bath 1st floor, 1 nice big master bedroom upstairs with 1 full bath and basement, driveway and garage detached. Property is sold AS IS. No seller financing.

5. 2021-09-15
   soldstatus $64,000
6. 2006-05-08
   soldstatus $125,600
7. 2005-07-13
   soldstatus $125,600 400-char remark

   Show marketing remark (400 chars)

   GORGEOUS 3 BEDRM BRICK BUNG. ! HUGE MASTER SUITE W/ BATH. EXQUISITE HARDWOOD FLOORING IN SPACIOUS LIVING RM. W/ MARBLE FIREPLACE. NEW ROOF, GARAGE AND WINDOWS IN 2000. NEWER KITCHEN W/ BAY WINDOW. PARTIALLY FINISHED BASEMENT W/ GLASS BLOCK WINDOWS. FENCED YARD W/ EXTRA LOT & OUTSIDE LIGHTS. PROPERTY IS BEING SOLD AS IS. BUYER TO SIGN ARC, 1 YR. HOME WARRANTY. PRE APPROVED BUYERS ONLY PLEASE!

8. 2005-04-28
   listed $121,900 400-char remark

   Show marketing remark (400 chars)

   GORGEOUS 3 BEDRM BRICK BUNG. ! HUGE MASTER SUITE W/ BATH. EXQUISITE HARDWOOD FLOORING IN SPACIOUS LIVING RM. W/ MARBLE FIREPLACE. NEW ROOF, GARAGE AND WINDOWS IN 2000. NEWER KITCHEN W/ BAY WINDOW. PARTIALLY FINISHED BASEMENT W/ GLASS BLOCK WINDOWS. FENCED YARD W/ EXTRA LOT & OUTSIDE LIGHTS. PROPERTY IS BEING SOLD AS IS. BUYER TO SIGN ARC, 1 YR. HOME WARRANTY. PRE APPROVED BUYERS ONLY PLEASE!

9. 1995-05-17
   soldstatus $56,900
10. 1995-05-12
    soldstatus $56,900
11. 1995-02-16
    historical
12. 1995-01-31
    listed $56,900

ⓘ 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: $2,312 · $193/mo
• Projected year-2 tax: $2,312 · $193/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 ≥96°F today · 15 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: $15,968
• − Mortgage interest: −$4,201
• − Property taxes: −$2,312
• − Insurance: −$375
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$2,182
• Taxable income: $4,344
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $4,166/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

+31.8% since first listed

12 events — show timeline

• 2026-03-20 Pending — MiRealSource-MiMLS
• 2026-03-20 Pending — REALCOMP
• 2026-02-24 Listed $75,000 REALCOMP
• 2026-02-24 Listed $75,000 MiRealSource-MiMLS
• 2021-09-15 Sold (Public Records) $64,000 Public Records
• 2006-05-08 Sold (Public Records) $125,600 Public Records
• 2005-07-13 Sold (MLS) $125,600 REALCOMP
• 2005-04-28 Listed $121,900 REALCOMP
• 1995-05-17 Sold (MLS) $56,900 MiRealSource-MiMLS
• 1995-05-12 Sold (Public Records) $56,900 Public Records
• 1995-02-16 Listing Removed — MiRealSource-MiMLS
• 1995-01-31 Listed $56,900 MiRealSource-MiMLS

Property tax history

+0.1%/yr

Latest (2025): $2,312 · -37.8% YoY. Source: county tax records.