16520 Lenore · Detroit, MI 48219

$85,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 254 Days on market

Built 1950 6,098 sqft lot $118/sqft · 57% above area Est $92k · 7% under

---

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 +24.8/30.0
• ARV discount +10.8/15.0
• DSCR +8.0/10.0
• 1% rule +6.5/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1950

Tags

• ALL APPLIANCES REMAIN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $85k).
• Recommended offer: $75k (12.0% 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 (+8.0%/yr); 308 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 76% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 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 + 8.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 9y 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 $30k; list at $85k implies a 183% 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $91,743
• List price: $85,000
• Delta: -7.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16548 Woodbine St	0.14mi	2/1.0	720 (0%)	14mo	$88,000	$122	82
24354 Puritan	0.17mi	2/1.0	736 (+2%)	9mo	$72,150	$98	81
16183 Salem St	0.26mi	2/1.0	696 (-3%)	5mo	$76,500	$110	78
24478 Pilgrim	0.29mi	2/1.0	704 (-2%)	7mo	$95,000	$135	77
16205 Lenore	0.08mi	2/1.0	690 (-4%)	20mo	$91,000	$132	72
24859 Puritan	0.33mi	2/1.0	768 (+7%)	2mo	$92,000	$120	71
15666 Leona Dr	0.54mi	2/1.0	720 (0%)	9mo	$127,500	$177	68
15854 Leona Dr	0.67mi	2/1.0	768 (+7%)	5mo	$130,000	$169	53
24841 Midland	0.47mi	2/1.0	768 (+7%)	21mo	$115,000	$150	50
15847 W Parkway St	0.72mi	2/1.0	800 (+11%)	21mo	$28,000	$35	30

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.12×
• Total profit: $2,808
• Equity at exit: $12,674

10-year hold

• IRR: 16.8%
• Equity multiple: 2.71×
• Total profit: $40,654
• Equity at exit: $7,349

Cash invested: $23,800 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 308
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $975 high
• Mortgage (P&I): −$446
• Tax from tax record: −$110 /mo · $1,315/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $179

Break-even live

Break-even rent $748

Max offer price $85,000

Occupancy floor 77%

Sensitivity live

Price	-10% $227	-5% $203	+0% $179	+5% $155	+10% $131
Rent	-10% $102	-5% $141	+0% $179	+5% $218	+10% $256
Rate	-1.0pp $222	-0.5pp $201	base $179	+0.5pp $157	+1.0pp $135

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	44d	1	0.08mi
24244 Dale St Unit 211 Detroit, MI	1.0	1.0	550	$800	$1.45	25d	1	0.28mi
24235 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	44d	4	0.30mi
24651 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	44d	4	0.33mi
16885 Lahser Rd Unit 1A Detroit, MI	1.0	1.0	650	$750	$1.15	6d	1	1.22mi
16885 Lahser Rd Apt 3A Detroit, MI	1.0	1.0	700	$750	$1.07	44d	1	1.22mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.23mi
16854 Lahser Rd Detroit, MI	1.0	1.0	680	$885	$1.30	13d	1	1.24mi
24224 W 7 Mile Rd Detroit, MI	1.0–2.0	1.0	600	$875	$1.46	44d	3	1.31mi
18045 Lahser Rd Detroit, MI	1.0	1.0	670	$960	$1.43	6d	2	1.38mi
17644 Lahser Rd Unit 7 Detroit, MI	1.0	1.0	600	$995	$1.66	25d	1	1.39mi
14290 Riverview St Unit 208 Detroit, MI	1.0	1.0	550	$845	$1.54	44d	1	1.44mi
14290 Riverview St Unit 106 Detroit, MI	1.0	1.0	550	$695	$1.26	44d	1	1.44mi
14272 Riverview St Unit 214 Detroit, MI	1.0	1.0	550	$695	$1.26	44d	1	1.45mi
14272 Riverview St Unit 216 Detroit, MI	1.0	1.0	550	$795	$1.45	44d	1	1.45mi
14272 Riverview St Apt 213 Detroit, MI	1.0	1.0	550	$845	$1.54	44d	1	1.45mi
19254 Telegraph Rd Unit M5 Detroit, MI	1.0	1.0	700	$820	$1.17	16d	1	1.45mi
14242 Riverview St Unit 215 Detroit, MI	1.0	1.0	550	$795	$1.45	44d	1	1.45mi
14242 Riverview St Apt 218 Detroit, MI	1.0	1.0	550	$845	$1.54	44d	1	1.45mi
14281 Riverview St Unit 116 Detroit, MI	1.0	1.0	550	$800	$1.45	44d	1	1.47mi
14245 Riverview St Detroit, MI	2.0	1.0	750	$985	$1.31	44d	1	1.48mi
19264 Telegraph Rd Unit G2 Detroit, MI	1.0	1.0	700	$820	$1.17	44d	1	1.48mi
14242 Riverview St Unit 118 Detroit, MI	1.0	1.0	550	$800	$1.45	44d	1	1.48mi
19260 Telegraph Rd Unit J2 Detroit, MI	1.0	1.0	700	$820	$1.17	44d	1	1.48mi
14281 Riverview St Unit 216 Detroit, MI	1.0	1.0	550	$795	$1.45	16d	1	1.48mi
14281 Riverview St Unit 213 Detroit, MI	1.0	1.0	550	$795	$1.45	44d	1	1.48mi
14281 Riverview St Unit 113 Detroit, MI	1.0	1.0	550	$845	$1.54	44d	1	1.48mi
14281 Riverview St Unit 115 Detroit, MI	1.0	1.0	550	$695	$1.26	44d	1	1.48mi
14838 Riverview St Unit 110 Detroit, MI	1.0	1.0	550	$845	$1.54	44d	1	1.50mi

Listing history 38 events

1. 2026-06-21
   days on market $85,000 Active 254 DOM
2. 2026-06-18
   days on market $85,000 Active 251 DOM
3. 2026-06-17
   days on market $85,000 Active 250 DOM
4. 2026-06-15
   days on market $85,000 Active 248 DOM
5. 2026-06-13
   days on market $85,000 Active 246 DOM
6. 2026-06-13
   days on market $85,000 Active 245 DOM
7. 2026-06-09
   days on market $85,000 Active 242 DOM
8. 2026-06-08
   days on market $85,000 Active 241 DOM
9. 2026-06-07
   days on market $85,000 Active 240 DOM
10. 2026-06-04
    days on market $85,000 Active 237 DOM
11. 2026-06-03
    days on market $85,000 Active 236 DOM
12. 2026-06-01
    days on market $85,000 Active 234 DOM
13. 2026-05-31
    days on market $85,000 Active 233 DOM
14. 2026-05-02
    status Active 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

15. 2026-05-02
    status Active 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

16. 2026-03-03
    status Pending 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

17. 2026-03-03
    status Pending 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

18. 2026-02-13
    price $85,000 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

19. 2026-02-12
    price $85,000 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

20. 2025-11-13
    status Active 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

21. 2025-11-13
    status Active 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

22. 2025-10-30
    status Pending 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

23. 2025-10-30
    status Pending 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

24. 2025-10-26
    price $79,000 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

25. 2025-10-25
    price $79,000 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

26. 2025-07-29
    listed $85,000 Active 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

27. 2025-07-28
    listed $85,000 Active 163-char remark

    Show marketing remark (163 chars)

    This is a excellent starter home near Puritan and Telegraph. 2 car garage - all appliances remain - washer, dryer, stove, refrigerator. Check it out - Great Deal!!

28. 2019-04-05
    soldstatus $30,000 Sold
29. 2019-04-05
    soldstatus $30,000 Closed
30. 2019-04-03
    status Pending
31. 2019-04-03
    status Pending
32. 2018-02-23
    status Active
33. 2018-02-23
    status Active
34. 2017-12-29
    historical
35. 2017-12-29
    historical
36. 2017-10-16
    listed $30,000 Active
37. 2017-10-16
    listed $30,000 Active
38. 1991-10-17
    soldstatus $26,000

ⓘ 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: $1,315 · $110/mo
• Projected year-2 tax: $1,315 · $110/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,696
• − Mortgage interest: −$4,761
• − Property taxes: −$1,315
• − Insurance: −$425
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,473
• Taxable income: $850
• Est. tax owed @ 24.0%: −$204
• After-tax cash flow: $1,946/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

+226.9% since first listed

25 events — show timeline

• 2026-05-02 Relisted — MiRealSource-MiMLS
• 2026-05-02 Relisted — REALCOMP
• 2026-03-03 Pending — MiRealSource-MiMLS
• 2026-03-03 Pending — REALCOMP
• 2026-02-13 Price Changed $85,000 MiRealSource-MiMLS
• 2026-02-12 Price Changed $85,000 REALCOMP
• 2025-11-13 Relisted — MiRealSource-MiMLS
• 2025-11-13 Relisted — REALCOMP
• 2025-10-30 Pending — MiRealSource-MiMLS
• 2025-10-30 Pending — REALCOMP
• 2025-10-26 Price Changed $79,000 MiRealSource-MiMLS
• 2025-10-25 Price Changed $79,000 REALCOMP
• 2025-07-29 Listed $85,000 REALCOMP
• 2025-07-28 Listed $85,000 MiRealSource-MiMLS
• 2019-04-05 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2019-04-05 Sold (MLS) $30,000 REALCOMP
• 2019-04-03 Pending — MiRealSource-MiMLS
• 2019-04-03 Pending — REALCOMP
• 2018-02-23 Relisted — MiRealSource-MiMLS
• 2018-02-23 Relisted — REALCOMP
• 2017-12-29 Listing Removed — REALCOMP
• 2017-12-29 Listing Removed — MiRealSource-MiMLS
• 2017-10-16 Listed $30,000 MiRealSource-MiMLS
• 2017-10-16 Listed $30,000 REALCOMP
• 1991-10-17 Sold (Public Records) $26,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,315 · -37.2% YoY. Source: county tax records.