15241 Eastburn St · Detroit, MI 48205

$58,000

4 bd · 1.0 ba · 1,489 sqft · SingleFamily public records · 122 Days on market

Built 1936 4,356 sqft lot $39/sqft · 26% below area Est $79k · 26% under ↓ 3% since listing

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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
• 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

Excellent Opportunity to purchase a 4-bedroom / 2 Bathroom house on the East side of Detroit. With a little bit of TLC this house could be great for investors or homeowners alike.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1936

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.9% 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; 30 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 ($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 $401 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 32y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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 1936 — 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: 2.42% ✓
• Cap rate: 20.90%
• Cash-on-cash: 52.15%
• DSCR: 3.32
• GRM: 3.5

CMA / ARV

• ARV (median comp): $78,714
• List price: $58,000
• Delta: -26.32%
• 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
15211 Fairmount Dr	0.07mi	3/2.0 (-1)	1,500 (+1%)	1mo	$70,000	$47	86
14973 Bringard Dr	0.14mi	3/1.5 (-1)	1,431 (-4%)	2mo	$60,000	$42	78
16286 E State Fair St	0.71mi	4/1.0	1,439 (-3%)	1mo	$99,900	$69	60
14841 Maddelein St	0.67mi	3/1.0 (-1)	1,516 (+2%)	3mo	$20,000	$13	59
14930 Fairmount Dr	0.19mi	3/2.0 (-1)	1,270 (-15%)	3mo	$107,500	$85	55
15826 Coram St	0.65mi	5/2.0 (+1)	1,546 (+4%)	5mo	$127,500	$82	50
16087 Collingham Dr	0.57mi	3/1.5 (-1)	1,339 (-10%)	2mo	$135,000	$101	48
14051 Edmore Dr	0.73mi	3/1.0 (-1)	1,389 (-7%)	5mo	$89,000	$64	46
14062 Collingham Dr	0.72mi	3/1.0 (-1)	1,372 (-8%)	4mo	$115,000	$84	45
14467 Rossini Dr	0.49mi	3/1.5 (-1)	1,308 (-12%)	6mo	$155,000	$119	44
14119 Edmore Dr	0.66mi	3/1.0 (-1)	1,278 (-14%)	2mo	$70,000	$55	38
14038 Fairmount Dr	0.75mi	3/1.5 (-1)	1,684 (+13%)	4mo	$119,000	$71	33

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: 48.2%
• Equity multiple: 3.05×
• Total profit: $33,261
• Equity at exit: $8,648

10-year hold

• IRR: 53.1%
• Equity multiple: 5.79×
• Total profit: $77,748
• Equity at exit: $5,015

Cash invested: $16,240 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$304
• Tax est. 1.5%: −$72 /mo · $870/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $706

Break-even live

Break-even rent $507

Max offer price $58,000

Occupancy floor 45%

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Rent comps 30 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	0.21mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.60mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	4d	1	0.63mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	43d	1	0.65mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	0.67mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.69mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.70mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.72mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.76mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.79mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.79mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.80mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	11d	1	0.95mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.01mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.11mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.13mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	1.19mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	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	1.33mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.37mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	4d	1	1.37mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	1.43mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	1.45mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	1.45mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	17d	1	1.45mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.48mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	1.48mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	1.48mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	1.49mi

Listing history 48 events

1. 2026-06-18
   days on market $58,000 Active 122 DOM
2. 2026-06-17
   days on market $58,000 Active 121 DOM
3. 2026-06-15
   days on market $58,000 Active 119 DOM
4. 2026-06-13
   days on market $58,000 Active 117 DOM
5. 2026-06-13
   days on market $58,000 Active 116 DOM
6. 2026-06-09
   days on market $58,000 Active 113 DOM
7. 2026-06-08
   days on market $58,000 Active 112 DOM
8. 2026-06-07
   days on market $58,000 Active 111 DOM
9. 2026-06-04
   days on market $58,000 Active 108 DOM
10. 2026-06-03
    days on market $58,000 Active 107 DOM
11. 2026-06-01
    days on market $58,000 Active 105 DOM
12. 2026-05-31
    days on market $58,000 Active 104 DOM
13. 2026-04-17
    price $58,000 179-char remark

    Show marketing remark (179 chars)

    Excellent Opportunity to purchase a 4-bedroom / 2 Bathroom house on the East side of Detroit. With a little bit of TLC this house could be great for investors or homeowners alike.

14. 2026-04-17
    price $58,000 179-char remark

    Show marketing remark (179 chars)

    Excellent Opportunity to purchase a 4-bedroom / 2 Bathroom house on the East side of Detroit. With a little bit of TLC this house could be great for investors or homeowners alike.

15. 2026-02-17
    listed $68,000 Active 179-char remark

    Show marketing remark (179 chars)

    Excellent Opportunity to purchase a 4-bedroom / 2 Bathroom house on the East side of Detroit. With a little bit of TLC this house could be great for investors or homeowners alike.

16. 2026-02-16
    listed $68,000 Active 179-char remark

    Show marketing remark (179 chars)

    Excellent Opportunity to purchase a 4-bedroom / 2 Bathroom house on the East side of Detroit. With a little bit of TLC this house could be great for investors or homeowners alike.

17. 2026-02-07
    historical
18. 2026-02-07
    historical
19. 2025-12-24
    price $59,000
20. 2025-12-24
    price $59,000
21. 2025-10-04
    price $70,000
22. 2025-10-03
    price $70,000
23. 2025-09-19
    listed $90,000 Active
24. 2025-09-19
    listed $90,000 Active
25. 2025-09-17
    historical
26. 2023-05-18
    soldstatus $75,000
27. 2023-03-02
    historical
28. 2023-03-02
    historical
29. 2022-11-03
    listed $75,000 Active
30. 2022-11-03
    listed $75,000 Active
31. 2021-05-18
    soldstatus $40,000
32. 2009-11-30
    soldstatus $12,000
33. 2009-11-30
    soldstatus $12,000
34. 2009-11-02
    historical
35. 2009-10-22
    listed $12,900
36. 2009-10-22
    listed $12,900
37. 2007-07-17
    historical
38. 2007-07-17
    historical
39. 2007-01-17
    listed $129,900
40. 2007-01-17
    listed $129,900
41. 2002-08-14
    soldstatus $120,000
42. 2002-06-24
    soldstatus $120,000
43. 2002-03-11
    historical
44. 2002-01-04
    listed $124,900
45. 1997-11-26
    soldstatus $53,605
46. 1995-02-03
    soldstatus $59,900
47. 1995-01-27
    soldstatus $59,900
48. 1994-11-29
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,810
• − Mortgage interest: −$3,249
• − Property taxes: −$870
• − Insurance: −$290
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$1,687
• Taxable income: $8,024
• Est. tax owed @ 24.0%: −$1,926
• After-tax cash flow: $6,544/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

-3.2% since first listed

36 events — show timeline

• 2026-04-17 Price Changed $58,000 MiRealSource-MiMLS
• 2026-04-17 Price Changed $58,000 REALCOMP
• 2026-02-17 Listed $68,000 REALCOMP
• 2026-02-16 Listed $68,000 MiRealSource-MiMLS
• 2026-02-07 Listing Removed — REALCOMP
• 2026-02-07 Listing Removed — MiRealSource-MiMLS
• 2025-12-24 Price Changed $59,000 MiRealSource-MiMLS
• 2025-12-24 Price Changed $59,000 REALCOMP
• 2025-10-04 Price Changed $70,000 MiRealSource-MiMLS
• 2025-10-03 Price Changed $70,000 REALCOMP
• 2025-09-19 Listed $90,000 MiRealSource-MiMLS
• 2025-09-19 Listed $90,000 REALCOMP
• 2025-09-17 Coming Soon — MiRealSource-MiMLS
• 2023-05-18 Sold (Public Records) $75,000 Public Records
• 2023-03-02 Listing Removed — MiRealSource-MiMLS
• 2023-03-02 Listing Removed — REALCOMP
• 2022-11-03 Listed $75,000 MiRealSource-MiMLS
• 2022-11-03 Listed $75,000 REALCOMP
• 2021-05-18 Sold (Public Records) $40,000 Public Records
• 2009-11-30 Sold (MLS) $12,000 REALCOMP
• 2009-11-30 Sold (MLS) $12,000 MiRealSource-MiMLS
• 2009-11-02 Listing Removed — MiRealSource-MiMLS
• 2009-10-22 Listed $12,900 REALCOMP
• 2009-10-22 Listed $12,900 MiRealSource-MiMLS
• 2007-07-17 Listing Removed — REALCOMP
• 2007-07-17 Listing Removed — MiRealSource-MiMLS
• 2007-01-17 Listed $129,900 REALCOMP
• 2007-01-17 Listed $129,900 MiRealSource-MiMLS
• 2002-08-14 Sold (Public Records) $120,000 Public Records
• 2002-06-24 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2002-03-11 Listing Removed — MiRealSource-MiMLS
• 2002-01-04 Listed $124,900 MiRealSource-MiMLS
• 1997-11-26 Sold (Public Records) $53,605 Public Records
• 1995-02-03 Sold (Public Records) $59,900 Public Records
• 1995-01-27 Sold (MLS) $59,900 MiRealSource-MiMLS
• 1994-11-29 Listed $59,900 MiRealSource-MiMLS

Property tax history

+3.3%/yr

Latest (2025): $3,640 · -40.2% YoY. Source: county tax records.