15862 Stansbury St · Detroit, MI 48227

$95,000

3 bd · 1.0 ba · 1,149 sqft · SingleFamily public records · 29 Days on market

Built 1928 3,920 sqft lot

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Why this score? — see what drove the C+ 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect rental opportunity or ideal first time buyer looking for a brick home with a garage. Well maintained three bedroom with newer vinyl replacement windows, updated kitchen and bath, full basement, large driveway and full basement. First floor great room has a fireplace, and the kitchen is large enough for a breakfast table to accommodate busy mornings. Large bedrooms upstairs with lots of light and a roomy bathroom. Located in a great corner of northwest Detroit just minutes from the suburbs of Royal Oak and Hazel park, but still minutes from mid and downtown. House sold AS IS, No Seller Financing BATVAI Room Sizes estimated

Key facts

• Large driveway
• Full basement
• Brick home

Tags

• BRICK HOME
• UPDATED KITCHEN
• FULL BASEMENT
• LARGE DRIVEWAY
• FIREPLACE

Property features AI

Finance

• Other: Located in the Puritan University subdivision; cross streets Puritan and Pilgrim; directions: Stansbury between Puritan and Pilgrim
• Financial info: $2,696 annual tax

Exterior

• Parking: Detached 1-car garage
• Utilities: Water available; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Built area above grade approximately 1,149 square feet
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 112)

Interior

• Bedrooms: 3 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating with natural gas; No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% 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: Rents rising fast (+5.6%/yr); 385 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 43% of the median local income ($37k/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 $657 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 + 5.6% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 1.37% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.62%
• DSCR: 1.56
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $63,195
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15770 Stansbury St	0.10mi	3/1.0	1,100 (-4%)	1mo	$50,000	$45	88
16180 Snowden St	0.30mi	3/1.0	1,137 (-1%)	0mo	$61,000	$54	84
15824 Snowden St	0.27mi	3/1.0	1,127 (-2%)	0mo	$61,000	$54	84
15824 Snowden St	0.27mi	3/1.0	1,127 (-2%)	0mo	$61,000	$54	84
16176 Tracey St	0.18mi	3/2.0	1,270 (+10%)	0mo	$70,000	$55	70
16562 Tracey St	0.31mi	3/1.0	1,244 (+8%)	2mo	$60,000	$48	70
15430 Mark Twain St	0.36mi	3/1.0	1,026 (-11%)	1mo	$95,000	$93	65
16863 Tracey St	0.49mi	3/2.0	1,200 (+4%)	2mo	$165,000	$138	64
16174 Lauder St	0.49mi	3/2.0	1,084 (-6%)	3mo	$102,900	$95	62
15366 Sussex St	0.74mi	3/1.0	1,100 (-4%)	3mo	$105,000	$95	56
15041 Lesure St	0.55mi	3/1.0	1,021 (-11%)	2mo	$50,000	$49	54
15053 Littlefield St	0.62mi	3/2.0	1,286 (+12%)	2mo	$75,000	$58	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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $5,974
• Equity at exit: $14,165

10-year hold

• IRR: 17.5%
• Equity multiple: 2.63×
• Total profit: $43,476
• Equity at exit: $8,214

Cash invested: $26,600 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,299 high
• Mortgage (P&I): −$498
• Tax from tax record: −$208 /mo · $2,500/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $280

Break-even live

Break-even rent $944

Max offer price $95,000

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.17mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	0.25mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	10d	1	0.27mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.31mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	16d	1	0.42mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.48mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	43d	1	0.50mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.54mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	43d	1	0.57mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	21d	1	0.57mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	16d	1	0.59mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	14d	1	0.59mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	0.62mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	0.64mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	43d	1	0.67mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.68mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	43d	1	0.70mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.71mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	0.71mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	0.71mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	0.71mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	43d	1	0.76mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	17d	1	0.78mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	0.83mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	43d	1	0.86mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	0.87mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	0.88mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	4d	1	0.88mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	0.91mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	4d	1	0.93mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	43d	2	0.98mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	0.98mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.99mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	14d	1	1.06mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	1.06mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	1.07mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	1.08mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	1.13mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	4d	1	1.14mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	16d	1	1.14mi

Listing history 50 events

1. 2026-06-18
   days on market $95,000 Active 29 DOM
2. 2026-06-17
   days on market $95,000 Active 28 DOM
3. 2026-06-15
   days on market $95,000 Active 26 DOM
4. 2026-06-13
   days on market $95,000 Active 24 DOM
5. 2026-06-13
   days on market $95,000 Active 23 DOM
6. 2026-06-09
   days on market $95,000 Active 20 DOM
7. 2026-06-08
   days on market $95,000 Active 19 DOM
8. 2026-06-07
   days on market $95,000 Active 18 DOM
9. 2026-06-04
   days on market $95,000 Active 15 DOM
10. 2026-06-03
    days on market $95,000 Active 14 DOM
11. 2026-06-02
    days on market $95,000 Active 13 DOM
12. 2026-06-01
    days on market $95,000 Active 12 DOM
13. 2026-05-31
    days on market $95,000 Active 11 DOM
14. 2026-05-20
    listed $95,000 Active

    Show marketing remark (637 chars)

    Perfect rental opportunity or ideal first time buyer looking for a brick home with a garage. Well maintained three bedroom with newer vinyl replacement windows, updated kitchen and bath, full basement, large driveway and full basement. First floor great room has a fireplace, and the kitchen is large enough for a breakfast table to accommodate busy mornings. Large bedrooms upstairs with lots of light and a roomy bathroom. Located in a great corner of northwest Detroit just minutes from the suburbs of Royal Oak and Hazel park, but still minutes from mid and downtown. House sold AS IS, No Seller Financing BATVAI Room Sizes estimated

15. 2026-05-20
    listed $95,000 Active 637-char remark

    Show marketing remark (637 chars)

    Perfect rental opportunity or ideal first time buyer looking for a brick home with a garage. Well maintained three bedroom with newer vinyl replacement windows, updated kitchen and bath, full basement, large driveway and full basement. First floor great room has a fireplace, and the kitchen is large enough for a breakfast table to accommodate busy mornings. Large bedrooms upstairs with lots of light and a roomy bathroom. Located in a great corner of northwest Detroit just minutes from the suburbs of Royal Oak and Hazel park, but still minutes from mid and downtown. House sold AS IS, No Seller Financing BATVAI Room Sizes estimated

16. 2026-04-01
    historical
17. 2026-04-01
    historical
18. 2026-03-23
    price $99,000
19. 2026-03-22
    price $99,000
20. 2026-03-02
    listed $110,000 Active
21. 2026-03-02
    listed $110,000 Active
22. 2025-08-21
    historical $1,500
23. 2025-06-17
    listed $1,500
24. 2025-06-03
    historical $1,550
25. 2025-03-29
    listed $1,550
26. 2024-11-06
    soldstatus $580,000
27. 2024-09-13
    soldstatus $80,000 Sold
28. 2024-09-13
    soldstatus $80,000 Closed
29. 2024-09-05
    historical Accepting Backup Offers
30. 2024-09-05
    historical Accepting Backup Offers
31. 2024-07-19
    price $84,000
32. 2024-07-18
    price $84,000
33. 2024-07-02
    listed $89,000 Active
34. 2024-07-02
    listed $89,000 Active
35. 2024-01-01
    historical
36. 2023-12-31
    historical
37. 2023-12-13
    price $88,000
38. 2023-12-13
    price $88,000
39. 2023-10-23
    price $89,900
40. 2023-10-23
    price $89,900
41. 2023-09-22
    listed $95,000 Active
42. 2023-09-22
    listed $95,000 Active
43. 2021-08-25
    soldstatus $65,900
44. 2018-01-10
    soldstatus $55,000
45. 2014-12-27
    historical
46. 2014-12-27
    historical
47. 2014-04-27
    listed $16,900
48. 2014-04-27
    listed $16,900
49. 2007-07-05
    soldstatus $100,000
50. 2000-12-20
    soldstatus $35,000

ⓘ 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: $2,500 · $208/mo
• Projected year-2 tax: $2,500 · $208/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 · 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: $15,583
• − Mortgage interest: −$5,321
• − Property taxes: −$2,500
• − Insurance: −$475
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$2,764
• Taxable income: $2,030
• Est. tax owed @ 24.0%: −$487
• After-tax cash flow: $2,871/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

+533.3% since first listed

40 events — show timeline

• 2026-05-20 Listed $95,000 MiRealSource-MiMLS
• 2026-05-20 Listed $95,000 REALCOMP
• 2026-04-01 Listing Removed — REALCOMP
• 2026-04-01 Listing Removed — MiRealSource-MiMLS
• 2026-03-23 Price Changed $99,000 MiRealSource-MiMLS
• 2026-03-22 Price Changed $99,000 REALCOMP
• 2026-03-02 Listed $110,000 REALCOMP
• 2026-03-02 Listed $110,000 MiRealSource-MiMLS
• 2025-08-21 Rental Removed $1,500 RENTSPREE
• 2025-06-17 Listed for Rent $1,500 RENTSPREE
• 2025-06-03 Rental Removed $1,550 REALSOURCE
• 2025-03-29 Listed for Rent $1,550 REALSOURCE
• 2024-11-06 Sold (Public Records) $580,000 Public Records
• 2024-09-13 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2024-09-13 Sold (MLS) $80,000 REALCOMP
• 2024-09-05 Contingent — MiRealSource-MiMLS
• 2024-09-05 Contingent — REALCOMP
• 2024-07-19 Price Changed $84,000 MiRealSource-MiMLS
• 2024-07-18 Price Changed $84,000 REALCOMP
• 2024-07-02 Listed $89,000 MiRealSource-MiMLS
• 2024-07-02 Listed $89,000 REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2023-12-31 Listing Removed — REALCOMP
• 2023-12-13 Price Changed $88,000 MiRealSource-MiMLS
• 2023-12-13 Price Changed $88,000 REALCOMP
• 2023-10-23 Price Changed $89,900 MiRealSource-MiMLS
• 2023-10-23 Price Changed $89,900 REALCOMP
• 2023-09-22 Listed $95,000 MiRealSource-MiMLS
• 2023-09-22 Listed $95,000 REALCOMP
• 2021-08-25 Sold (Public Records) $65,900 Public Records
• 2018-01-10 Sold (Public Records) $55,000 Public Records
• 2014-12-27 Listing Removed — MiRealSource-MiMLS
• 2014-12-27 Listing Removed — REALCOMP
• 2014-04-27 Listed $16,900 MiRealSource-MiMLS
• 2014-04-27 Listed $16,900 REALCOMP
• 2007-07-05 Sold (Public Records) $100,000 Public Records
• 2000-12-20 Sold (MLS) $35,000 REALCOMP
• 2000-09-07 Listed $41,900 REALCOMP
• 1999-11-10 Sold (Public Records) $62,000 Public Records
• 1997-08-22 Sold (Public Records) $15,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,500 · +37.6% YoY. Source: county tax records.