15260 Eastburn St · Detroit, MI 48205

$70,000

2 bd · 1.0 ba · 915 sqft · SingleFamily public records · 116 Days on market

Built 1937 4,356 sqft lot $77/sqft · at area comps Est $73k · at est. ↓ 6% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• 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

1 out of 2 portfolio package available! This home features a 3 bed 1 bath brick bungalow! Well maintained and occupied, ready for its new owner. This property is professionally managed for an easy transition for any investor! Tenant pays $1,050/ month, lease ends 4/2026, and the tenant pays all utilities. * * * No showings without an accepted offer! * * * Property is available individually and as a portfolio 18433 Norwood St 48234 both properties being sold as is!

Key facts

• 4,356 sq ft lot
• Built 1937
• Listed 115 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 10.1% 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 (+1.3%/yr); 376 active listings in the ZIP; 25 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).
• This rent runs 36% 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 $484 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 24y 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 3.2% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.67% ✓
• Cap rate: 12.17%
• Cash-on-cash: 21.01%
• DSCR: 1.93
• GRM: 5.0

CMA / ARV

• ARV (median comp): $72,568
• List price: $70,000
• Delta: -3.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15825 Eastburn St	0.33mi	3/1.0 (+1)	928 (+1%)	3mo	$77,000	$83	75
15486 Fairmount Dr	0.15mi	3/1.0 (+1)	1,020 (+12%)	2mo	$62,000	$61	67
16107 Manning St	0.61mi	3/1.0 (+1)	925 (+1%)	2mo	$61,000	$66	63
16062 Carlisle St	0.55mi	3/1.0 (+1)	957 (+5%)	1mo	$42,000	$44	61
16062 CARLISLE St	0.55mi	3/1.0 (+1)	957 (+5%)	1mo	$42,000	$44	61
16209 Tacoma St	0.62mi	3/1.0 (+1)	968 (+6%)	1mo	$62,900	$65	56
16277 Liberal St	0.72mi	3/1.0 (+1)	945 (+3%)	1mo	$25,000	$26	55
16291 Fairmount Dr	0.65mi	3/1.0 (+1)	977 (+7%)	2mo	$112,000	$115	52
15017 Lappin St	0.55mi	3/1.0 (+1)	1,008 (+10%)	2mo	$60,000	$60	50
16260 Bringard Dr	0.62mi	3/1.0 (+1)	1,036 (+13%)	0mo	$80,000	$77	44
19953 Regent Dr	0.60mi	3/1.0 (+1)	1,038 (+13%)	2mo	$55,000	$53	43
16452 Bringard Dr	0.73mi	3/1.5 (+1)	1,025 (+12%)	2mo	$131,900	$129	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: 11.4%
• Equity multiple: 1.44×
• Total profit: $8,653
• Equity at exit: $10,437

10-year hold

• IRR: 18.9%
• Equity multiple: 2.44×
• Total profit: $28,313
• Equity at exit: $6,052

Cash invested: $19,600 (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: 376
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,171 high
• Mortgage (P&I): −$367
• Tax from tax record: −$186 /mo · $2,227/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $343

Break-even live

Break-even rent $737

Max offer price $70,000

Occupancy floor 66%

Sensitivity live

Price	-10% $383	-5% $363	+0% $343	+5% $323	+10% $303
Rent	-10% $251	-5% $297	+0% $343	+5% $389	+10% $436
Rate	-1.0pp $378	-0.5pp $361	base $343	+0.5pp $325	+1.0pp $307

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	45d	1	0.16mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	0.37mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.63mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	16d	1	0.69mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	45d	1	0.70mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.74mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.79mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.82mi
16241 Seven Mile E Unit 4 Detroit, MI	1.0	1.0	650	$650	$1.00	45d	1	0.85mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	1.11mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	45d	1	1.12mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	1.12mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	1.12mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	1.18mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	1.22mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	1.25mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.26mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	1.30mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.31mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	1.33mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	45d	1	1.36mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	1.39mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	1.40mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	1.40mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	1.49mi

Listing history 50 events

1. 2026-06-21
   days on market $70,000 Active 116 DOM
2. 2026-06-18
   days on market $70,000 Active 113 DOM
3. 2026-06-17
   days on market $70,000 Active 112 DOM
4. 2026-06-15
   days on market $70,000 Active 110 DOM
5. 2026-06-13
   days on market $70,000 Active 108 DOM
6. 2026-06-13
   days on market $70,000 Active 107 DOM
7. 2026-06-09
   days on market $70,000 Active 104 DOM
8. 2026-06-08
   days on market $70,000 Active 103 DOM
9. 2026-06-07
   days on market $70,000 Active 102 DOM
10. 2026-06-04
    days on market $70,000 Active 99 DOM
11. 2026-06-03
    days on market $70,000 Active 98 DOM
12. 2026-06-01
    days on market $70,000 Active 96 DOM
13. 2026-05-31
    days on market $70,000 Active 95 DOM
14. 2026-02-25
    listed $70,000 Active 475-char remark

    Show marketing remark (474 chars)

    1 out of 2 portfolio package available! This home features a 3 bed 1 bath brick bungalow! Well maintained and occupied, ready for its new owner. This property is professionally managed for an easy transition for any investor! Tenant pays $1,050/ month, lease ends 4/2026, and the tenant pays all utilities. * * * No showings without an accepted offer! * * * Property is available individually and as a portfolio 18433 Norwood St 48234 both properties being sold as is!

15. 2026-02-25
    listed $70,000 Active 474-char remark

    Show marketing remark (474 chars)

    1 out of 2 portfolio package available! This home features a 3 bed 1 bath brick bungalow! Well maintained and occupied, ready for its new owner. This property is professionally managed for an easy transition for any investor! Tenant pays $1,050/ month, lease ends 4/2026, and the tenant pays all utilities. * * * No showings without an accepted offer! * * * Property is available individually and as a portfolio 18433 Norwood St 48234 both properties being sold as is!

16. 2025-10-29
    status Pending
17. 2025-10-29
    status Pending
18. 2025-10-20
    historical Active Under Contract
19. 2025-10-20
    historical Accepting Backup Offers
20. 2025-10-20
    historical
21. 2025-10-20
    historical
22. 2025-10-20
    historical
23. 2025-07-21
    listed $70,000 Active
24. 2025-07-21
    listed $70,000 Active
25. 2025-07-16
    historical
26. 2024-03-14
    soldstatus $65,000
27. 2023-03-01
    historical
28. 2023-02-28
    historical
29. 2022-12-10
    status Active
30. 2022-12-10
    status Active
31. 2022-11-17
    historical Accepting Backup Offers
32. 2022-11-17
    historical Accepting Backup Offers
33. 2022-11-05
    status Active
34. 2022-11-04
    status Active
35. 2022-10-19
    status Pending
36. 2022-10-19
    status Pending
37. 2022-08-31
    listed $35,000 Active
38. 2022-08-31
    listed $35,000 Active
39. 2022-01-22
    historical
40. 2021-10-26
    status Pending
41. 2021-10-26
    status Pending
42. 2021-10-25
    historical
43. 2021-10-21
    listed $35,000 Active
44. 2021-10-21
    listed $35,000 Active
45. 2021-10-20
    historical
46. 2021-10-20
    historical
47. 2015-06-03
    historical
48. 2015-02-24
    historical
49. 2014-06-03
    listed $13,900 Active
50. 2014-06-03
    listed $13,900

ⓘ 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: $2,227 · $186/mo
• Projected year-2 tax: $2,227 · $186/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 ≥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: $14,050
• − Mortgage interest: −$3,921
• − Property taxes: −$2,227
• − Insurance: −$350
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$2,036
• Taxable income: $3,268
• Est. tax owed @ 24.0%: −$784
• After-tax cash flow: $3,333/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

-5.6% since first listed

45 events — show timeline

• 2026-02-25 Listed $70,000 REALCOMP
• 2026-02-25 Listed $70,000 MiRealSource-MiMLS
• 2025-10-29 Pending — MiRealSource-MiMLS
• 2025-10-29 Pending — REALCOMP
• 2025-10-20 Contingent — REALCOMP
• 2025-10-20 Contingent — MiRealSource-MiMLS
• 2025-10-20 Listing Removed — REALCOMP
• 2025-10-20 Listing Removed — MiRealSource-MiMLS
• 2025-10-20 Listing Removed — MiRealSource-MiMLS
• 2025-07-21 Listed $70,000 MiRealSource-MiMLS
• 2025-07-21 Listed $70,000 REALCOMP
• 2025-07-16 Coming Soon — MiRealSource-MiMLS
• 2024-03-14 Sold (Public Records) $65,000 Public Records
• 2023-03-01 Listing Removed — MiRealSource-MiMLS
• 2023-02-28 Listing Removed — REALCOMP
• 2022-12-10 Relisted — MiRealSource-MiMLS
• 2022-12-10 Relisted — REALCOMP
• 2022-11-17 Contingent — MiRealSource-MiMLS
• 2022-11-17 Contingent — REALCOMP
• 2022-11-05 Relisted — MiRealSource-MiMLS
• 2022-11-04 Relisted — REALCOMP
• 2022-10-19 Pending — MiRealSource-MiMLS
• 2022-10-19 Pending — REALCOMP
• 2022-08-31 Listed $35,000 MiRealSource-MiMLS
• 2022-08-31 Listed $35,000 REALCOMP
• 2022-01-22 Listing Removed — REALCOMP
• 2021-10-26 Pending — MiRealSource-MiMLS
• 2021-10-26 Pending — REALCOMP
• 2021-10-25 Listing Removed — MiRealSource-MiMLS
• 2021-10-21 Listed $35,000 MiRealSource-MiMLS
• 2021-10-21 Listed $35,000 REALCOMP
• 2021-10-20 Coming Soon — MiRealSource-MiMLS
• 2021-10-20 Coming Soon — REALCOMP
• 2015-06-03 Listing Removed — MiRealSource-MiMLS
• 2015-02-24 Listing Removed — REALCOMP
• 2014-06-03 Listed $13,900 MiRealSource-MiMLS
• 2014-06-03 Listed $13,900 REALCOMP
• 2008-06-26 Sold (MLS) $5,000 REALCOMP
• 2008-03-10 Listed $7,900 REALCOMP
• 2005-07-19 Sold (Public Records) $103,000 Public Records
• 2004-08-06 Sold (Public Records) $89,300 Public Records
• 2003-06-19 Sold (Public Records) $52,000 Public Records
• 2002-10-28 Sold (MLS) $52,000 REALCOMP
• 2002-08-16 Listed $54,900 REALCOMP
• 2001-11-27 Sold (Public Records) $74,171 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,227 · -37.8% YoY. Source: county tax records.