15321 Sorrento St · Detroit, MI 48227

$99,900

3 bd · 2.0 ba · 2,052 sqft · Townhouse public records · 26 Days on market

Built 1930 4,792 sqft lot

---

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 +8.9/10.0
• 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

Updated rental or occupants will relocate for owner occupied buyers. Stable neighborhood. Great for owner occupied, rental or upgrade and flip. Motivated Seller, low entry to market at current list price. Bring best offer.

Key facts

• 4,792 sq ft lot
• Built 1930
• Listed 26 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Home warranty included
• Exterior features: Paved road access; Lot roughly 36 x 133 (0.11 acre)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $100k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).
• At $1,388/mo this rent would consume 46% of the median local household income ($37k/yr) (locally 2371% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 2.8% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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: 1.39% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.23×
• Total profit: $6,397
• Equity at exit: $14,895

10-year hold

• IRR: 17.6%
• Equity multiple: 2.65×
• Total profit: $46,179
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$524
• Tax from tax record: −$236 /mo · $2,831/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $295

Break-even live

Break-even rent $1,014

Max offer price $99,900

Occupancy floor 74%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	43d	1	0.58mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	0.74mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	43d	1	0.80mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	17d	1	0.91mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	43d	1	0.99mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	1.05mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	43d	1	1.05mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	1.08mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	43d	1	1.08mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	43d	1	1.17mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	43d	1	1.25mi

Listing history 7 events

1. 2026-04-30
   status Pending 222-char remark

   Show marketing remark (222 chars)

   Updated rental or occupants will relocate for owner occupied buyers. Stable neighborhood. Great for owner occupied, rental or upgrade and flip. Motivated Seller, low entry to market at current list price. Bring best offer.

2. 2026-04-30
   status Pending

   Show marketing remark (222 chars)

   Updated rental or occupants will relocate for owner occupied buyers. Stable neighborhood. Great for owner occupied, rental or upgrade and flip. Motivated Seller, low entry to market at current list price. Bring best offer.

3. 2026-04-01
   listed $99,900 Active 222-char remark

   Show marketing remark (222 chars)

   Updated rental or occupants will relocate for owner occupied buyers. Stable neighborhood. Great for owner occupied, rental or upgrade and flip. Motivated Seller, low entry to market at current list price. Bring best offer.

4. 2026-04-01
   listed $99,900 Active

   Show marketing remark (222 chars)

   Updated rental or occupants will relocate for owner occupied buyers. Stable neighborhood. Great for owner occupied, rental or upgrade and flip. Motivated Seller, low entry to market at current list price. Bring best offer.

5. 2011-12-02
   historical
6. 2011-02-02
   listed $1,000
7. 2008-03-19
   soldstatus $100,000

ⓘ 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: $2,831 · $236/mo
• Projected year-2 tax: $2,831 · $236/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: $16,654
• − Mortgage interest: −$5,596
• − Property taxes: −$2,831
• − Insurance: −$500
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$2,906
• Taxable income: $2,157
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $3,022/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

-0.1% since first listed

7 events — show timeline

• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-30 Pending — REALCOMP
• 2026-04-01 Listed $99,900 REALCOMP
• 2026-04-01 Listed $99,900 MiRealSource-MiMLS
• 2011-12-02 Listing Removed — MiRealSource-MiMLS
• 2011-02-02 Listed $1,000 MiRealSource-MiMLS
• 2008-03-19 Sold (Public Records) $100,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,831 · +124.5% YoY. Source: county tax records.