15803 Biltmore St · Detroit, MI 48227

$74,000

4 bd · 1.5 ba · 1,824 sqft · MultiFamily public records · 7 Days on market

Built 1926 3,920 sqft lot Est $80k · 8% 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 +30.0/30.0
• ARV discount +11.0/15.0
• 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
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Own this versatile 2-unit multifamily property in Detroit's northwest side. Each unit features 2 bedrooms, offering the the potential for rents of $900-$1,200 per unit per month. With the right amount of TLC, this property could be ready to generate income before Fall 2026. It has a shared basement that provides additional storage and utility space. Also, for buyers seeking a personal residence, the home's layout offers the possibility to convert to a spacious single-family home with 4 bedrooms and 2 full baths. BATVAI

Key facts

• Potential to convert
• Multifamily property
• Shared basement

Tags

• MULTIFAMILY PROPERTY
• SHARED BASEMENT
• POTENTIAL TO CONVERT

Property features AI

Finance

• Financial info: Net operating income reported as 0

Exterior

• Utilities: Public sewer at street; Natural gas
• Home design: Multi-family property; Colonial style; 2-story; Built in 1926; Residential zoning
• Construction: Basement foundation
• Exterior features: Vinyl siding; Paved street access; 30 ft frontage

Interior

• Bedrooms: 2 total units (multi-family)
• Bathrooms: 2 total bathrooms
• Heating & cooling: Natural gas heating; Forced air system
• Interior features: Block basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $74k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Cap rate 28.6% vs local median 10.1% in Detroit — 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 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); 391 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2,469/mo this rent would consume 81% 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 $512 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,000

Questions for the listing agent

1. Built in 1926 — 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 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?
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.34% ✓
• Cap rate: 28.63%
• Cash-on-cash: 79.79%
• DSCR: 4.55
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $80,256
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15355 Asbury Park Park	0.32mi	3/2.0 (-1)	1,826 (+0%)	9mo	$82,500	$45	70
16723 Asbury Park	0.42mi	4/2.0	1,944 (+7%)	8mo	$85,000	$44	61
15065 Forrer St	0.65mi	4/2.0	1,840 (+1%)	23mo	$120,000	$65	47
15443 Whitcomb St	0.75mi	4/2.5	1,944 (+7%)	7mo	$82,000	$42	45
15450 Greenfield Rd	0.66mi	4/3.0	1,876 (+3%)	24mo	$120,000	$64	38
15751-53 Greenfield Rd	0.59mi	4/2.0	2,004 (+10%)	20mo	$80,000	$40	38
15461 Prest St	0.69mi	3/2.0 (-1)	1,698 (-7%)	17mo	$63,500	$37	35

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: 83.0%
• Equity multiple: 4.98×
• Total profit: $82,431
• Equity at exit: $11,034

10-year hold

• IRR: 86.9%
• Equity multiple: 11.31×
• Total profit: $213,635
• Equity at exit: $6,398

Cash invested: $20,720 (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: 391
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,469 high
• Mortgage (P&I): −$388
• Tax from tax record: −$154 /mo · $1,847/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $1,378

Break-even live

Break-even rent $725

Max offer price $74,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,420	-5% $1,399	+0% $1,378	+5% $1,357	+10% $1,336
Rent	-10% $1,183	-5% $1,280	+0% $1,378	+5% $1,475	+10% $1,573
Rate	-1.0pp $1,415	-0.5pp $1,397	base $1,378	+0.5pp $1,359	+1.0pp $1,339

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,468
Total (2 units)			$2,469

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	5d	1	0.23mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	25d	1	0.30mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	45d	1	0.59mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	16d	1	0.60mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	21d	1	0.74mi
16757 Greenview Ave Unit 1A Detroit, MI	3.0	1.5	1600	$1,500	$0.94	6d	1	0.81mi
14669 Rutherford St Detroit, MI	4.0	2.0	2359	$1,950	$0.83	45d	1	0.84mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	45d	1	0.92mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.93mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	19d	1	0.95mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	18d	1	1.21mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	1.25mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	1.36mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	45d	1	1.38mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	16d	1	1.41mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	1.43mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	45d	1	1.47mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	6d	1	1.49mi

Listing history 9 events

1. 2026-06-21
   days on market $74,000 Active 7 DOM
2. 2026-06-18
   days on market $74,000 Active 4 DOM
3. 2026-06-17
   days on market $74,000 Active 3 DOM
4. 2026-06-16
   days on market $74,000 Active 2 DOM
5. 2026-06-15
   listing id $74,000 Active 1 DOM
6. 2026-06-15
   remarks 524-char remark
7. 2026-06-15
   status $74,000 Active 1 DOM
8. 2026-06-13
   remarks 523-char remark
9. 2026-06-13
   listed $74,000 Coming Soon 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: $1,847 · $154/mo
• Projected year-2 tax: $1,847 · $154/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 ≥98°F today · 14 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: $29,628
• − Mortgage interest: −$4,145
• − Property taxes: −$1,847
• − Insurance: −$370
• − Repairs & maintenance: −$2,370
• − Management: −$2,370
• − Depreciation: −$2,153
• Taxable income: $16,373
• Est. tax owed @ 24.0%: −$3,929
• After-tax cash flow: $12,603/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

1 event — show timeline

• 2026-06-13 Coming Soon $74,000 MiRealSource-MiMLS

Property tax history

-0.1%/yr

Latest (2025): $1,847 · +0.0% YoY. Source: county tax records.