14960 Tracey St · Detroit, MI 48227

$81,900

4 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 18 Days on market

Built 1928 3,485 sqft lot $70/sqft · 48% above area Est $55k · 48% over ↓ 4% since listing

---

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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely four-bedroom brick, updated kitchen, partially finished basement. Perfect starter home or great investment. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified. Tenant occupied, paying $1000 per month. Need 72 hours notification for showings.

Key facts

• 3,485 sq ft lot
• 2 garage spots
• Built 1928

Property features AI

Finance

• Other: Lot approximately 0.08 acres (35 x 106)
• Financial info: Tax amount available but excluded per instructions
• HOA & community: No HOA information provided

Exterior

• Parking: Detached 2-car garage; Driveway
• Security: Not specified
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick construction; Facing/entry direction not specified
• Construction: Brick exterior; Asphalt roof; Block foundation; Unfinished basement
• Exterior features: Porch; Paved road access

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Flooring: Not specified
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Gas water heater; Awning(s)
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $81k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 10.0% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $1,387/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 $566 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 + 5.6% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y 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 2.9% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,671 (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: 1.69% ✓
• Cap rate: 12.64%
• Cash-on-cash: 22.66%
• DSCR: 2.01
• GRM: 4.9

CMA / ARV

• ARV (median comp): $55,332
• List price: $81,900
• Delta: 48.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15041 Lesure St	0.10mi	3/1.0 (-1)	1,021 (-13%)	2mo	$50,000	$49	67
15053 Littlefield St	0.21mi	3/2.0 (-1)	1,286 (+10%)	2mo	$75,000	$58	63
15775 Hartwell St	0.52mi	3/1.0 (-1)	1,123 (-4%)	3mo	$88,000	$78	61
14644 Hubbell St	0.48mi	3/1.0 (-1)	1,248 (+6%)	2mo	$45,000	$36	61
15824 Snowden St	0.60mi	3/1.0 (-1)	1,127 (-4%)	1mo	$61,000	$54	60
15824 Snowden St	0.60mi	3/1.0 (-1)	1,127 (-4%)	1mo	$61,000	$54	60
15770 Stansbury St	0.53mi	3/1.0 (-1)	1,100 (-6%)	1mo	$50,000	$45	59
14974 Cheyenne St	0.28mi	3/2.5 (-1)	1,300 (+11%)	4mo	$155,000	$119	55
14421 Marlowe St	0.64mi	4/1.0	1,060 (-10%)	3mo	$66,000	$62	52
15430 Mark Twain St	0.47mi	3/1.0 (-1)	1,026 (-13%)	1mo	$95,000	$93	51
13991 Ardmore St	0.75mi	3/1.0 (-1)	1,080 (-8%)	2mo	$10,000	$9	45
14931 Monte Vista St	0.64mi	3/1.5 (-1)	1,307 (+11%)	0mo	$35,000	$27	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: 18.8%
• Equity multiple: 1.79×
• Total profit: $18,101
• Equity at exit: $12,212

10-year hold

• IRR: 29.1%
• Equity multiple: 3.95×
• Total profit: $67,650
• Equity at exit: $7,081

Cash invested: $22,932 (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: 392
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$429
• Tax from tax record: −$199 /mo · $2,385/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $433

Break-even live

Break-even rent $838

Max offer price $81,900

Occupancy floor 64%

Sensitivity live

Price	-10% $479	-5% $456	+0% $433	+5% $410	+10% $387
Rent	-10% $324	-5% $378	+0% $433	+5% $488	+10% $543
Rate	-1.0pp $474	-0.5pp $454	base $433	+0.5pp $412	+1.0pp $390

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: $20,475
• Closing costs: $2,457
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	18d	1	0.09mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	45d	1	0.13mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	14d	1	0.25mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	19d	1	0.30mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	0.34mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	0.46mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	18d	1	0.54mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.58mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	45d	1	0.59mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	0.62mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	19d	1	0.71mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	26d	1	0.72mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	14d	1	0.72mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	26d	1	0.72mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	0.76mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	26d	1	0.76mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	0.77mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	26d	1	0.82mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.83mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	45d	1	0.87mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	16d	1	0.92mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	6d	1	0.93mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.95mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	6d	1	0.99mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.05mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	19d	1	1.07mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	18d	1	1.21mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	45d	1	1.25mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	45d	1	1.25mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	6d	1	1.30mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	18d	1	1.31mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	1.31mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	18d	1	1.34mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	14d	1	1.35mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	45d	1	1.37mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	1.38mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	26d	1	1.40mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	45d	1	1.40mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	18d	1	1.41mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	6d	1	1.41mi

Listing history 45 events

1. 2026-06-21
   days on market $81,900 Active 18 DOM
2. 2026-06-18
   days on market $81,900 Active 15 DOM
3. 2026-06-17
   days on market $81,900 Active 14 DOM
4. 2026-06-16
   days on market $81,900 Active 13 DOM
5. 2026-06-15
   days on market $81,900 Active 12 DOM
6. 2026-06-13
   days on market $81,900 Active 10 DOM
7. 2026-06-13
   days on market $81,900 Active 9 DOM
8. 2026-06-09
   days on market $81,900 Active 6 DOM
9. 2026-06-08
   days on market $81,900 Active 5 DOM
10. 2026-06-07
    days on market $81,900 Active 4 DOM
11. 2026-06-04
    days on marketlisting id $81,900 Active 1 DOM
12. 2026-06-01
    days on market $81,900 Active 173 DOM
13. 2026-05-31
    days on market $81,900 Active 172 DOM
14. 2026-03-21
    price $81,900 356-char remark
15. 2026-03-21
    price $81,900 356-char remark
16. 2026-02-21
    status Active 356-char remark
17. 2026-02-21
    historical 356-char remark
18. 2025-12-10
    listed $82,900 Active 356-char remark
19. 2025-12-10
    listed $82,900 Active 356-char remark
20. 2018-03-26
    soldstatus $200,000
21. 2017-08-03
    historical
22. 2017-08-03
    historical
23. 2017-07-08
    price $10,800
24. 2017-07-07
    price $10,800
25. 2017-07-07
    status Active
26. 2017-07-07
    historical
27. 2017-03-03
    listed $24,000 Active
28. 2017-03-02
    listed $24,000 Active
29. 2016-02-19
    historical
30. 2016-02-19
    historical
31. 2016-02-14
    status Pending
32. 2016-02-08
    historical
33. 2016-01-06
    status Pending
34. 2015-10-20
    historical
35. 2015-07-23
    listed $22,000 Active
36. 2015-07-23
    listed $22,000
37. 2015-03-17
    historical
38. 2015-03-17
    soldstatus $15,000 Sold
39. 2015-03-17
    soldstatus $15,000
40. 2015-03-16
    historical
41. 2015-01-14
    price $15,000
42. 2014-10-30
    listed $20,000 Active
43. 2014-10-30
    listed $15,000
44. 2007-01-27
    historical
45. 2006-03-28
    listed $84,900

ⓘ 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: $2,385 · $199/mo
• Projected year-2 tax: $2,385 · $199/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: $16,640
• − Mortgage interest: −$4,588
• − Property taxes: −$2,385
• − Insurance: −$410
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$2,383
• Taxable income: $4,213
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $4,186/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

-3.5% since first listed

36 events — show timeline

• 2026-06-03 Listed $81,900 REALCOMP
• 2026-06-03 Listing Removed — MiRealSource-MiMLS
• 2026-06-03 Listing Removed — REALCOMP
• 2026-06-03 Listed $81,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $81,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $81,900 REALCOMP
• 2026-02-21 Relisted — REALCOMP
• 2026-02-21 Listing Removed — REALCOMP
• 2025-12-10 Listed $82,900 REALCOMP
• 2025-12-10 Listed $82,900 MiRealSource-MiMLS
• 2018-03-26 Sold (Public Records) $200,000 Public Records
• 2017-08-03 Listing Removed — REALCOMP
• 2017-08-03 Listing Removed — MiRealSource-MiMLS
• 2017-07-08 Price Changed $10,800 MiRealSource-MiMLS
• 2017-07-07 Price Changed $10,800 REALCOMP
• 2017-07-07 Relisted — MiRealSource-MiMLS
• 2017-07-07 Listing Removed — MiRealSource-MiMLS
• 2017-03-03 Listed $24,000 MiRealSource-MiMLS
• 2017-03-02 Listed $24,000 REALCOMP
• 2016-02-19 Listing Removed — REALCOMP
• 2016-02-19 Listing Removed — MiRealSource-MiMLS
• 2016-02-14 Pending — REALCOMP
• 2016-02-08 Listing Removed — REALCOMP
• 2016-01-06 Pending — REALCOMP
• 2015-10-20 Listing Removed — REALCOMP
• 2015-07-23 Listed $22,000 REALCOMP
• 2015-07-23 Listed $22,000 MiRealSource-MiMLS
• 2015-03-17 Listing Removed — REALCOMP
• 2015-03-17 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2015-03-17 Sold (MLS) $15,000 REALCOMP
• 2015-03-16 Listing Removed — MiRealSource-MiMLS
• 2015-01-14 Price Changed $15,000 REALCOMP
• 2014-10-30 Listed $15,000 MiRealSource-MiMLS
• 2014-10-30 Listed $20,000 REALCOMP
• 2007-01-27 Listing Removed — REALCOMP
• 2006-03-28 Listed $84,900 REALCOMP

Property tax history

+8.3%/yr

Latest (2025): $2,385 · +0.9% YoY. Source: county tax records.