15464 Cameron St · Southgate, MI 48195

$140,000

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 4 Days on market

Built 1953 6,098 sqft lot Est $180k · 22% 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.9/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special in Southgate! Opportunity awaits with this 3-bedroom, 1-bath ranch offering 972 sq. ft. of living space in a convenient Southgate location. This home is in need of a full renovation but provides a solid canvas for investors, flippers, or buyers looking to build equity through improvements. Features include hardwood floors throughout much of the home, an eat-in kitchen, and a functional ranch layout. Outside, you'll find a spacious yard highlighted by a charming garden pond, creating a unique outdoor setting with plenty of potential for landscaping enhancements. Whether you're looking for your next project or a property to customize from the ground up, this home offers endless possibilities. Home is being sold as-is. Bring your vision and transform this Southgate ranch into something special!

Key facts

• Spacious yard
• Garden pond
• Eat-in kitchen

Tags

• HARDWOOD FLOORS
• EAT-IN KITCHEN
• SPACIOUS YARD
• GARDEN POND
• FUNCTIONAL RANCH LAYOUT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Electricity available; Natural gas available
• Home design: Ranch-style single family home; One story
• Construction: Built in 1953; Brick construction; Asphalt shingle roof
• Exterior features: Paved road access; 0.14-acre lot

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom (12 x 11); Bedroom 2 (10 x 10); Bedroom 3 (10 x 10)
• Bathrooms: One full bathroom (10 x 6)
• Heating & cooling: Forced air heating; Cooling available
• Interior features: Fireplace; Three total rooms; Full basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.2% vs local median 5.2% in Southgate — 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 85/100 on livability (#29 in MI, #582 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D, crime D-.
• Southgate Community School District (suburban): math 21% / reading 36% proficiency, ranked #379 of 540 in MI (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.0%/yr); 115 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 30% of the median local income ($66k/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 $968 of loan paydown is wiped out by about $4k 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 + 4.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $93k; list at $140k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $179,820
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15110 Drake St	0.22mi	3/1.5	972 (0%)	2mo	$155,000	$159	86
14559 Balsam St	0.41mi	3/1.0	1,026 (+6%)	2mo	$165,000	$161	70
15444 Mulberry St	0.29mi	3/1.0	1,073 (+10%)	1mo	$180,000	$168	68
15464 Mulberry St	0.29mi	3/1.0	1,073 (+10%)	2mo	$198,000	$185	67
15646 Cynthia St	0.47mi	2/1.0 (-1)	1,019 (+5%)	7mo	$210,000	$206	59
14706 Eureka Rd	0.42mi	3/1.0	1,088 (+12%)	2mo	$192,000	$176	59
16612 Drake St	0.55mi	2/1.0 (-1)	1,000 (+3%)	7mo	$200,000	$200	59
15675 Mulberry St	0.34mi	2/2.0 (-1)	1,073 (+10%)	1mo	$204,000	$190	57
14801 Pennsylvania Rd	0.74mi	2/1.0 (-1)	967 (-0%)	3mo	$184,000	$190	57
14834 Kennebec St	0.44mi	3/1.0	1,088 (+12%)	6mo	$160,000	$147	54
16672 Drake St	0.59mi	3/1.0	1,073 (+10%)	1mo	$224,900	$210	54
15338 Helen St	0.52mi	3/1.0	1,096 (+13%)	4mo	$160,000	$146	51

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,009
• Equity at exit: $20,874

10-year hold

• IRR: 11.3%
• Equity multiple: 1.93×
• Total profit: $36,574
• Equity at exit: $12,105

Cash invested: $39,200 (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 48195

• Rents YoY: 4.0%
• Active inventory: 115
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$734
• Tax from tax record: −$178 /mo · $2,141/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $344

Break-even live

Break-even rent $1,229

Max offer price $140,000

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13861 Strathcona St Southgate, MI	1.0–2.0	1.0–1.5	797	$1,140	$1.43	1d	5	0.82mi
13750 Village Green Blvd Southgate, MI	1.0–2.0	1.0	862	$1,625	$1.88	1d	9	0.87mi
15027 Brookview Dr Riverview, MI	1.0–2.0	1.0	1020	$1,499	$1.47	1d	34	0.87mi
13185 Sycamore St Southgate, MI	3.0	1.0	1080	$1,700	$1.57	24d	1	1.24mi
13210 Village Park Dr Southgate, MI	2.0	1.0	630	$1,125	$1.78	1d	9	1.25mi
17400 Fort St Riverview, MI	1.0–2.0	1.0	800	$1,225	$1.53	1d	10	1.30mi
16167 Weddel St Taylor, MI	2.0–3.0	1.0	1064	$1,600	$1.50	1d	1	1.34mi

Listing history 5 events

1. 2026-06-07
   statusdays on market $140,000 Pending 4 DOM
2. 2026-06-04
   days on market $140,000 Active 3 DOM
3. 2026-06-03
   days on market $140,000 Active 2 DOM
4. 2026-06-02
   remarks 699-char remark
5. 2026-06-02
   listed $140,000 Active 1 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: $2,141 · $178/mo
• Projected year-2 tax: $2,148 · $179/mo
• Expected delta: +$8/yr (+$1/mo · 0.4%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,973
• − Mortgage interest: −$7,842
• − Property taxes: −$2,141
• − Insurance: −$700
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,073
• Taxable income: $2,022
• Est. tax owed @ 24.0%: −$485
• After-tax cash flow: $3,643/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: Southgate Community School District
• NCES district ID: 2632340
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $49,234
• Composite: 24.83/100
• National rank: #7591
• State rank: #379 of 540 in MI

Livability — Southgate

• Score: 85/100
• State rank: #29
• US rank: #582

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D- Employment B- Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southgate, MI
• County: Wayne County · 1,562,939 people
• City population: 29,366
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 29,366
• Household income: $66,118
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 727.0

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 White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Black 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 4% Spanish 3% Other Asian/Pacific 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: ▼ -187.28%
• Current HPI: 207.9776
• Rent YoY: ▲ 4.04%
• 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

+50.5% since first listed

4 events — show timeline

• 2026-06-01 Listed $140,000 MiRealSource-MiMLS
• 2026-06-01 Listed $140,000 REALCOMP
• 2026-06-01 Listed $140,000 SW Michigan MLS
• 1998-03-31 Sold (Public Records) $93,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,141 · -18.1% YoY. Source: county tax records.