15040 Sussex St · Detroit, MI 48227

$48,000

2 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 62 Days on market

Built 1925 8,276 sqft lot $36/sqft · 44% below area Est $86k · 44% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

2 bedroom 1 Bath Colonial. .. Great for Investor or Home Owner

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.8% 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 (+5.6%/yr); 385 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 ($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 $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $17k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.63% ✓
• Cap rate: 21.78%
• Cash-on-cash: 55.31%
• DSCR: 3.46
• GRM: 3.2

CMA / ARV

• ARV (median comp): $85,883
• List price: $48,000
• Delta: -44.11%
• 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
15328 Prest St E	0.20mi	3/1.5 (+1)	1,298 (-2%)	3mo	$66,999	$52	78
14736 Mansfield St	0.55mi	3/1.0 (+1)	1,318 (-0%)	0mo	$62,000	$47	69
14644 Hubbell St	0.40mi	3/1.0 (+1)	1,248 (-6%)	2mo	$45,000	$36	66
15868 Whitcomb St	0.55mi	3/1.0 (+1)	1,332 (+1%)	2mo	$95,000	$71	66
15316 Prevost St NE	0.43mi	2/1.5	1,193 (-10%)	2mo	$157,000	$132	61
15771 Rutherford St	0.66mi	3/1.0 (+1)	1,289 (-2%)	1mo	$55,106	$43	60
14232 Lauder St	0.64mi	3/1.0 (+1)	1,272 (-4%)	2mo	$60,000	$47	57
15727 Mansfield St	0.67mi	3/1.5 (+1)	1,300 (-2%)	3mo	$55,000	$42	57
15763 Robson St	0.46mi	2/1.5	1,485 (+12%)	3mo	$58,500	$39	53
15721 Robson St	0.40mi	3/2.0 (+1)	1,193 (-10%)	4mo	$190,000	$159	52
15748 Freeland St	0.64mi	3/1.0 (+1)	1,243 (-6%)	4mo	$78,000	$63	52
14321 Ardmore St	0.73mi	2/2.0	1,188 (-10%)	2mo	$11,000	$9	44

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: 56.7%
• Equity multiple: 3.61×
• Total profit: $35,095
• Equity at exit: $7,157

10-year hold

• IRR: 62.6%
• Equity multiple: 8.15×
• Total profit: $96,154
• Equity at exit: $4,150

Cash invested: $13,440 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,262 high
• Mortgage (P&I): −$252
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $619

Break-even live

Break-even rent $478

Max offer price $48,000

Occupancy floor 46%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	0.18mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	0.18mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	0.18mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.18mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.19mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.20mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	43d	1	0.31mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	16d	1	0.44mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	20d	1	0.46mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	43d	1	0.48mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	0.48mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	0.49mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.52mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.58mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	43d	1	0.59mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.62mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	0.62mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	0.64mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	12d	1	0.64mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	0.64mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.68mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	15d	1	0.71mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	0.71mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.73mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	43d	1	0.73mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	0.75mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	0.76mi
14510 Asbury Park Detroit, MI	2.0	1.0	1771	$1,250	$0.71	43d	1	0.76mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.78mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	0.82mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	0.86mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.87mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	0.87mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	16d	1	0.90mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	1.00mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	43d	1	1.02mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	1.02mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	43d	1	1.03mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	16d	1	1.04mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	1.04mi

Listing history 41 events

1. 2026-06-18
   days on market $48,000 Active 62 DOM
2. 2026-06-17
   days on market $48,000 Active 61 DOM
3. 2026-06-15
   days on market $48,000 Active 59 DOM
4. 2026-06-13
   days on market $48,000 Active 57 DOM
5. 2026-06-13
   days on market $48,000 Active 56 DOM
6. 2026-06-09
   days on market $48,000 Active 53 DOM
7. 2026-06-08
   days on market $48,000 Active 52 DOM
8. 2026-06-07
   days on market $48,000 Active 51 DOM
9. 2026-06-04
   days on market $48,000 Active 48 DOM
10. 2026-06-03
    days on market $48,000 Active 47 DOM
11. 2026-06-02
    days on market $48,000 Active 46 DOM
12. 2026-06-01
    days on market $48,000 Active 45 DOM
13. 2026-05-31
    days on market $48,000 Active 44 DOM
14. 2026-04-24
    price $53,000 62-char remark

    Show marketing remark (62 chars)

    2 bedroom 1 Bath Colonial. .. Great for Investor or Home Owner

15. 2026-04-24
    price $53,000 62-char remark

    Show marketing remark (62 chars)

    2 bedroom 1 Bath Colonial. .. Great for Investor or Home Owner

16. 2026-04-17
    listed $65,000 Active 62-char remark

    Show marketing remark (62 chars)

    2 bedroom 1 Bath Colonial. .. Great for Investor or Home Owner

17. 2026-04-17
    listed $65,000 Active 62-char remark

    Show marketing remark (62 chars)

    2 bedroom 1 Bath Colonial. .. Great for Investor or Home Owner

18. 2025-07-28
    soldstatus $57,500
19. 2025-06-18
    soldstatus $57,500 Closed
20. 2025-06-18
    soldstatus $57,500 Closed
21. 2025-05-19
    status Pending
22. 2025-05-19
    status Pending
23. 2025-04-29
    price $60,000
24. 2025-04-29
    price $60,000
25. 2025-03-11
    price $63,900
26. 2025-03-10
    price $63,900
27. 2025-01-28
    price $64,000
28. 2025-01-27
    price $64,000
29. 2024-12-19
    price $69,000
30. 2024-12-19
    price $69,000
31. 2024-12-11
    price $79,400
32. 2024-12-10
    price $79,400
33. 2024-11-26
    price $79,500
34. 2024-11-25
    price $79,500
35. 2024-11-19
    listed $85,000 Active
36. 2024-11-19
    listed $85,000 Active
37. 2011-06-10
    soldstatus $2,187
38. 2011-06-10
    soldstatus $2,187
39. 2010-12-07
    listed $2,187
40. 2010-12-07
    listed $2,187
41. 1992-11-04
    soldstatus $20,000

ⓘ 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: $1,272 · $106/mo
• Projected year-2 tax: $1,272 · $106/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 ≥98°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: $15,146
• − Mortgage interest: −$2,689
• − Property taxes: −$1,272
• − Insurance: −$240
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$1,396
• Taxable income: $7,126
• Est. tax owed @ 24.0%: −$1,710
• After-tax cash flow: $5,723/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

+165.0% since first listed

28 events — show timeline

• 2026-04-24 Price Changed $53,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $53,000 REALCOMP
• 2026-04-17 Listed $65,000 REALCOMP
• 2026-04-17 Listed $65,000 MiRealSource-MiMLS
• 2025-07-28 Sold (Public Records) $57,500 Public Records
• 2025-06-18 Sold (MLS) $57,500 MiRealSource-MiMLS
• 2025-06-18 Sold (MLS) $57,500 REALCOMP
• 2025-05-19 Pending — MiRealSource-MiMLS
• 2025-05-19 Pending — REALCOMP
• 2025-04-29 Price Changed $60,000 MiRealSource-MiMLS
• 2025-04-29 Price Changed $60,000 REALCOMP
• 2025-03-11 Price Changed $63,900 MiRealSource-MiMLS
• 2025-03-10 Price Changed $63,900 REALCOMP
• 2025-01-28 Price Changed $64,000 MiRealSource-MiMLS
• 2025-01-27 Price Changed $64,000 REALCOMP
• 2024-12-19 Price Changed $69,000 MiRealSource-MiMLS
• 2024-12-19 Price Changed $69,000 REALCOMP
• 2024-12-11 Price Changed $79,400 MiRealSource-MiMLS
• 2024-12-10 Price Changed $79,400 REALCOMP
• 2024-11-26 Price Changed $79,500 MiRealSource-MiMLS
• 2024-11-25 Price Changed $79,500 REALCOMP
• 2024-11-19 Listed $85,000 MiRealSource-MiMLS
• 2024-11-19 Listed $85,000 REALCOMP
• 2011-06-10 Sold (MLS) $2,187 MiRealSource-MiMLS
• 2011-06-10 Sold (MLS) $2,187 REALCOMP
• 2010-12-07 Listed $2,187 MiRealSource-MiMLS
• 2010-12-07 Listed $2,187 REALCOMP
• 1992-11-04 Sold (Public Records) $20,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,272 · -54.0% YoY. Source: county tax records.