15280 Faircrest St · Detroit, MI 48205

$87,000

3 bd · 1.0 ba · 839 sqft · SingleFamily public records · 1 Days on market

Built 1948 4,792 sqft lot

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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 +27.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 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

Don't miss this cash flowing 3-bedroom brick bungalow featuring a full basement, located on a beautifully maintained street in Detroit's desirable Mapleridge neighborhood. The home offers a spacious living room, dining room, three comfortable bedrooms, a full bath, recently updated kitchen with plenty of cabinetry, and hardwood floors. Enjoy low-maintenance living with newer vinyl windows and lower utility costs year-round. Located in Northeast Detroit, this area is popular with homeowners due to its proximity to neighboring suburbs, dining, shopping, schools, and St John's hospital. Current tenant is paying 1100 per month and paid up to date to provide immediate income on your investment.

Key facts

• Brick bungalow
• Newer vinyl windows
• Full basement

Tags

• BRICK BUNGALOW
• FULL BASEMENT
• UPDATED KITCHEN
• HARDWOOD FLOORS
• NEWER VINYL WINDOWS
• MAPLERIDGE NEIGHBORHOOD

Property features AI

Exterior

• Parking: Driveway (no garage)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half levels; Ground-level entry with steps; Aluminum siding and brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 45 x 103 ft (0.11 acres)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling system
• Interior features: Finished basement; Six total rooms

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 $259 ($3k/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 (+1.3%/yr); 373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 ($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 $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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $47k; list at $87k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,000

Questions for the listing agent

1. Built in 1948 — 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: 1.52% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $57,052
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15294 Saratoga St	0.06mi	3/1.0	802 (-4%)	7mo	$65,000	$81	84
15596 Eastwood St	0.23mi	3/1.0	886 (+6%)	6mo	$60,000	$68	75
15260 Faircrest St	0.01mi	2/1.0 (-1)	942 (+12%)	1mo	$35,000	$37	73
12897 Riad St	0.62mi	3/1.0	831 (-1%)	1mo	$63,000	$76	68
12641 Kelly Rd	0.60mi	2/1.0 (-1)	840 (+0%)	4mo	$15,000	$18	63
18591 Kingsville St	0.74mi	2/1.0 (-1)	824 (-2%)	1mo	$74,000	$90	57
15682 Liberal St	0.58mi	3/1.0	889 (+6%)	8mo	$28,500	$32	56
12843 Payton St	0.51mi	3/1.0	934 (+11%)	4mo	$38,000	$41	54
15834 Novara St	0.57mi	3/1.0	929 (+11%)	4mo	$90,000	$97	52
12505 Laing St	0.66mi	3/1.0	752 (-10%)	3mo	$54,600	$73	49
12056 Duchess St	0.63mi	3/1.0	950 (+13%)	3mo	$30,000	$32	46
11974 Duchess St	0.66mi	2/1.0 (-1)	724 (-14%)	5mo	$37,000	$51	37

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $339
• Equity at exit: $12,972

10-year hold

• IRR: 7.9%
• Equity multiple: 1.55×
• Total profit: $13,393
• 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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$456
• Tax from tax record: −$294 /mo · $3,530/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $259

Break-even live

Break-even rent $996

Max offer price $87,000

Occupancy floor 75%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.26mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.49mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.52mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.59mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	43d	1	0.62mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.63mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.64mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.86mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.90mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.91mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.92mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	0.93mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.93mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	1.00mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	1.02mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.09mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	1.11mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	1.14mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	1.15mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.16mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.20mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.21mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	14d	1	1.21mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	14d	1	1.25mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.30mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	1.31mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	1.32mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	24d	1	1.34mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	43d	1	1.34mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	1.36mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	21d	1	1.37mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	24d	1	1.37mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	1.37mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.38mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.40mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	1.40mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	1.42mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	1.42mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	17d	1	1.43mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	4d	1	1.45mi

Listing history 2 events

1. 2026-06-18
   remarks 687-char remark

   Show marketing remark (698 chars)

   Don't miss this cash flowing 3-bedroom brick bungalow featuring a full basement, located on a beautifully maintained street in Detroit's desirable Mapleridge neighborhood. The home offers a spacious living room, dining room, three comfortable bedrooms, a full bath, recently updated kitchen with plenty of cabinetry, and hardwood floors. Enjoy low-maintenance living with newer vinyl windows and lower utility costs year-round. Located in Northeast Detroit, this area is popular with homeowners due to its proximity to neighboring suburbs, dining, shopping, schools, and St John's hospital. Current tenant is paying 1100 per month and paid up to date to provide immediate income on your investment.

2. 2026-06-18
   listed $87,000 Active 1 DOM

   Show marketing remark (698 chars)

   Don't miss this cash flowing 3-bedroom brick bungalow featuring a full basement, located on a beautifully maintained street in Detroit's desirable Mapleridge neighborhood. The home offers a spacious living room, dining room, three comfortable bedrooms, a full bath, recently updated kitchen with plenty of cabinetry, and hardwood floors. Enjoy low-maintenance living with newer vinyl windows and lower utility costs year-round. Located in Northeast Detroit, this area is popular with homeowners due to its proximity to neighboring suburbs, dining, shopping, schools, and St John's hospital. Current tenant is paying 1100 per month and paid up to date to provide immediate income on your investment.

ⓘ 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: $3,530 · $294/mo
• Projected year-2 tax: $3,530 · $294/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 ≥95°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: $15,882
• − Mortgage interest: −$4,873
• − Property taxes: −$3,530
• − Insurance: −$435
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$2,531
• Taxable income: $1,972
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $2,634/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

+234.6% since first listed

12 events — show timeline

• 2026-06-18 Listed $87,000 MiRealSource-MiMLS
• 2026-06-18 Listed $87,000 REALCOMP
• 2026-02-16 Rental Removed $1,100 BUILDIUM
• 2026-02-13 Listed for Rent $1,100 BUILDIUM
• 2026-01-28 Rental Removed $1,100 BUILDIUM
• 2026-01-28 Price Changed $1,100 BUILDIUM
• 2025-12-25 Price Changed $1,125 BUILDIUM
• 2025-12-20 Price Changed $1,150 BUILDIUM
• 2025-12-16 Price Changed $1,175 BUILDIUM
• 2025-11-20 Listed for Rent $1,200 BUILDIUM
• 2024-08-02 Sold (Public Records) $47,000 Public Records
• 1991-10-10 Sold (Public Records) $26,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $3,530 · +257.8% YoY. Source: county tax records.