15877 Baylis St · Detroit, MI 48238

$87,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 13 Days on market

Built 1924 3,920 sqft lot Est $132k · 34% 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 +25.3/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CALLING ALL INVESTORS LOOKING TO ADD TO THEIR PORTFOLIO. Discover this charming three-bedroom, one-bath bungalow, currently rented for $1,200 per month. With tenants who take exceptional care of the home and are eager to stay long-term, this property offers a stable investment opportunity. Recently remodeled just two years ago, everything inside feels brand new, providing a modern and inviting atmosphere. Don't miss out on this well-maintained gem!

Key facts

• 3,920 sq ft lot
• Built 1924
• Listed 13 days

Property features AI

Finance

• Other: Paved road access; Lot dimensions approximately 30 x 125 (0.09 acres)
• Financial info: No additional financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No garage
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation; Asphalt roof; Built area above grade: 1,400
• Exterior features: Covered porch

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; ENERGY STAR qualified equipment; No cooling
• Interior features: Gas water heater; Partial, unfinished basement
• Laundry & utility: No laundry appliance details provided

🏷️ Possibly a rental listed for sale. The $87,000 price doesn't fit this home's estimated sale value (~$132,480) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).

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 (+6.1%/yr); 346 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $1,332/mo this rent would consume 48% of the median local household income ($33k/yr) (locally 2172% 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 $601 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 + 6.1% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 5y 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 $71k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,000

Questions for the listing agent

1. Built in 1924 — 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: 1.53% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.72%
• DSCR: 1.43
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $132,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15877 Baylis St	0.00mi	3/1.0	1,400 (-3%)	5mo	$71,000	$51	91
16177 Inverness St	0.18mi	3/1.0	1,404 (-2%)	4mo	$70,000	$50	84
16180 Wildemere St	0.44mi	3/1.5	1,454 (+1%)	2mo	$115,000	$79	74
15580 Linwood St	0.23mi	3/1.0	1,546 (+7%)	6mo	$45,000	$29	72
16141 Wildemere St	0.46mi	3/1.5	1,448 (+1%)	5mo	$165,000	$114	72
16533 Parkside St	0.48mi	3/2.0	1,500 (+4%)	2mo	$205,000	$137	65
15376 Parkside St	0.48mi	3/1.0	1,488 (+3%)	11mo	$65,000	$44	63
16570 Inverness St	0.34mi	4/2.0 (+1)	1,300 (-10%)	3mo	$120,000	$92	57
361 Pilgrim St	0.50mi	2/1.0 (-1)	1,368 (-5%)	10mo	$8,000	$6	55
16210 Parkside St	0.40mi	3/2.0	1,591 (+10%)	9mo	$235,000	$148	52
241 Moss St	0.69mi	3/1.0	1,300 (-10%)	3mo	$172,500	$133	49
156 Hill St	0.60mi	3/1.5	1,639 (+14%)	11mo	$154,000	$94	38

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $2,992
• Equity at exit: $12,972

10-year hold

• IRR: 16.2%
• Equity multiple: 2.58×
• Total profit: $38,507
• Equity at exit: $7,522

Cash invested: $24,360 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$456
• Tax from tax record: −$362 /mo · $4,347/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $197

Break-even live

Break-even rent $1,082

Max offer price $87,000

Occupancy floor 80%

Sensitivity live

Price	-10% $511	-5% $481	+0% $197	+5% $173	+10% $148
Rent	-10% $92	-5% $145	+0% $197	+5% $250	+10% $303
Rate	-1.0pp $241	-0.5pp $220	base $197	+0.5pp $175	+1.0pp $152

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	0.29mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	0.29mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.33mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	0.50mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	0.54mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.54mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	0.57mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	0.71mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	0.93mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.94mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	44d	1	0.94mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	0.95mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	0.96mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	0.96mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.96mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	0.98mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	0.98mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	18d	1	1.00mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	1.04mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	1.04mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	1.07mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	1.07mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	1.16mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.17mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	18d	1	1.21mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	25d	1	1.21mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	1.27mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	1.27mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.30mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.32mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	1.33mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	44d	1	1.33mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	25d	1	1.33mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.36mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.38mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	1.38mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.47mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.49mi

Listing history 10 events

1. 2026-06-18
   days on market $87,000 Active 13 DOM
2. 2026-06-17
   days on market $87,000 Active 12 DOM
3. 2026-06-16
   days on market $87,000 Active 11 DOM
4. 2026-06-15
   days on market $87,000 Active 10 DOM
5. 2026-06-13
   days on market $87,000 Active 8 DOM
6. 2026-06-13
   days on market $87,000 Active 7 DOM
7. 2026-06-09
   days on market $87,000 Active 4 DOM
8. 2026-06-08
   days on market $87,000 Active 3 DOM
9. 2026-06-07
   remarks 452-char remark
10. 2026-06-07
    listed $87,000 Active 2 DOM

ⓘ 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: $4,347 · $362/mo
• Projected year-2 tax: $4,347 · $362/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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,982
• − Mortgage interest: −$4,873
• − Property taxes: −$4,347
• − Insurance: −$435
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$2,531
• Taxable income: $1,239
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $2,072/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+16.2% since first listed

25 events — show timeline

• 2026-06-05 Listed $87,000 MiRealSource-MiMLS
• 2026-06-05 Listed $87,000 REALCOMP
• 2026-01-23 Sold (MLS) $71,000 MiRealSource-MiMLS
• 2026-01-23 Sold (MLS) $71,000 REALCOMP
• 2026-01-14 Pending — MiRealSource-MiMLS
• 2026-01-14 Pending — REALCOMP
• 2025-10-09 Price Changed $79,000 MiRealSource-MiMLS
• 2025-10-08 Price Changed $79,000 REALCOMP
• 2025-09-06 Price Changed $89,000 MiRealSource-MiMLS
• 2025-09-05 Price Changed $89,000 REALCOMP
• 2025-08-26 Listed $99,000 MiRealSource-MiMLS
• 2025-08-26 Listed $99,000 REALCOMP
• 2024-03-13 Listing Removed — MiRealSource-MiMLS
• 2024-03-13 Listing Removed — REALCOMP
• 2023-11-16 Price Changed $69,500 MiRealSource-MiMLS
• 2023-11-15 Price Changed $69,500 REALCOMP
• 2023-09-07 Listed $74,500 MiRealSource-MiMLS
• 2023-09-07 Listed $74,500 REALCOMP
• 2021-10-25 Sold (Public Records) $60,000 Public Records
• 2021-09-21 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2021-09-21 Sold (MLS) $60,000 REALCOMP
• 2021-09-02 Pending — MiRealSource-MiMLS
• 2021-09-02 Pending — REALCOMP
• 2021-08-25 Listed $74,900 MiRealSource-MiMLS
• 2021-08-25 Listed $74,900 REALCOMP

Property tax history

+10.3%/yr

Latest (2025): $4,347 · +97.9% YoY. Source: county tax records.