15456 Saratoga St · Detroit, MI 48205

$65,000

3 bd · 1.0 ba · 812 sqft · SingleFamily public records · 28 Days on market

Built 1940 3,485 sqft lot Est $59k · 10% over

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Why this score? — see what drove the C+ 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
• Livability +3.7/5.0
• ARV discount +3.2/15.0
• 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

MOVE-IN READY DETROIT BUNGALOW! This solid 3-bedroom home offers immediate possession and peace of mind. Mechanically sound and fully compliant: Features a valid City Rental Certification (thru 2027), passed City Inspection (Aug 2024), and passed Lead Inspection. Step inside to find gleaming refinished hardwood floors, historic arched walkways, and a classic fireplace that adds character to the living space. Two bedrooms are conveniently located on the entry level, while the upper floor is dedicated to a large primary bedroom. Whether you are looking for a turnkey starter home or a certified rental for your portfolio, this property is prepped and ready to go. Schedule your showing today!

Key facts

• Arched walkways
• Classic fireplace
• 3,485 sq ft lot

Tags

• REFINISHED HARDWOOD FLOORS
• ARCHED WALKWAYS
• CLASSIC FIREPLACE

Property features AI

Exterior

• Parking: No garage
• Security: Smoke detectors installed
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation; Built with traditional construction materials
• Exterior features: Awnings; Paved road access

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Fireplace in the living room; Unfinished basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 10.2% 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 (+1.3%/yr); 373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $449 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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 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: 2.04% ✓
• Cap rate: 17.22%
• Cash-on-cash: 39.01%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $59,276
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15596 Eastwood St	0.11mi	3/1.0	886 (+9%)	6mo	$60,000	$68	74
12897 Riad St	0.51mi	3/1.0	831 (+2%)	1mo	$63,000	$76	71
18591 Kingsville St	0.62mi	2/1.0 (-1)	824 (+2%)	1mo	$74,000	$90	63
12505 Laing St	0.58mi	3/1.0	752 (-7%)	3mo	$54,600	$73	58
12641 Kelly Rd	0.65mi	2/1.0 (-1)	840 (+3%)	4mo	$15,000	$18	55
15834 Novara St	0.47mi	3/1.0	929 (+14%)	4mo	$90,000	$97	51
16274 Liberal St	0.70mi	3/1.0	900 (+11%)	5mo	$90,000	$100	45
16301 Coram St	0.65mi	3/1.0	929 (+14%)	1mo	$19,500	$21	45
16107 Manning St	0.70mi	3/1.0	925 (+14%)	2mo	$61,000	$66	43
11974 Duchess St	0.66mi	2/1.0 (-1)	724 (-11%)	5mo	$37,000	$51	42
18700 Mccormick St	0.59mi	2/1.0 (-1)	706 (-13%)	5mo	$63,000	$89	42
18930 Mccormick St	0.72mi	3/1.0	911 (+12%)	6mo	$60,000	$66	41

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: 33.3%
• Equity multiple: 2.37×
• Total profit: $24,990
• Equity at exit: $9,692

10-year hold

• IRR: 39.4%
• Equity multiple: 4.39×
• Total profit: $61,702
• Equity at exit: $5,620

Cash invested: $18,200 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$341
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $592

Break-even live

Break-even rent $574

Max offer price $65,000

Occupancy floor 50%

Sensitivity live

Price	-10% $629	-5% $610	+0% $592	+5% $573	+10% $555
Rent	-10% $487	-5% $539	+0% $592	+5% $644	+10% $696
Rate	-1.0pp $624	-0.5pp $608	base $592	+0.5pp $575	+1.0pp $558

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: $16,250
• Closing costs: $1,950
• 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	44d	1	0.28mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.40mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.50mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.51mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.58mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	0.59mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.68mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	44d	1	0.74mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.81mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.84mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.84mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.85mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.87mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.94mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.00mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	1.00mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	1.03mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.03mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	1.06mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	1.12mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	15d	1	1.13mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	15d	1	1.14mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	1.17mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	1.22mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	1.25mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.31mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.32mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	1.34mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.34mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.37mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.37mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	1.38mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	1.38mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.39mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	1.43mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	1.44mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.44mi
18119 Joann St Detroit, MI	2.0	1.0	800	$1,100	$1.38	25d	1	1.46mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.47mi
18624 Fairport St Detroit, MI	3.0	1.0	874	$1,450	$1.66	22d	1	1.47mi

Listing history 30 events

1. 2026-06-18
   days on market $65,000 Active 28 DOM
2. 2026-06-17
   days on market $65,000 Active 27 DOM
3. 2026-06-15
   days on market $65,000 Active 25 DOM
4. 2026-06-13
   days on market $65,000 Active 23 DOM
5. 2026-06-13
   days on market $65,000 Active 22 DOM
6. 2026-06-09
   days on market $65,000 Active 19 DOM
7. 2026-06-08
   days on market $65,000 Active 18 DOM
8. 2026-06-07
   days on market $65,000 Active 17 DOM
9. 2026-06-04
   days on market $65,000 Active 14 DOM
10. 2026-06-03
    days on market $65,000 Active 13 DOM
11. 2026-06-02
    days on market $65,000 Active 12 DOM
12. 2026-06-01
    days on market $65,000 Active 11 DOM
13. 2026-05-31
    days on market $65,000 Active 10 DOM
14. 2026-05-19
    listed $65,000 Active 696-char remark

    Show marketing remark (696 chars)

    MOVE-IN READY DETROIT BUNGALOW! This solid 3-bedroom home offers immediate possession and peace of mind. Mechanically sound and fully compliant: Features a valid City Rental Certification (thru 2027), passed City Inspection (Aug 2024), and passed Lead Inspection. Step inside to find gleaming refinished hardwood floors, historic arched walkways, and a classic fireplace that adds character to the living space. Two bedrooms are conveniently located on the entry level, while the upper floor is dedicated to a large primary bedroom. Whether you are looking for a turnkey starter home or a certified rental for your portfolio, this property is prepped and ready to go. Schedule your showing today!

15. 2026-05-19
    listed $65,000 Active

    Show marketing remark (696 chars)

    MOVE-IN READY DETROIT BUNGALOW! This solid 3-bedroom home offers immediate possession and peace of mind. Mechanically sound and fully compliant: Features a valid City Rental Certification (thru 2027), passed City Inspection (Aug 2024), and passed Lead Inspection. Step inside to find gleaming refinished hardwood floors, historic arched walkways, and a classic fireplace that adds character to the living space. Two bedrooms are conveniently located on the entry level, while the upper floor is dedicated to a large primary bedroom. Whether you are looking for a turnkey starter home or a certified rental for your portfolio, this property is prepped and ready to go. Schedule your showing today!

16. 2026-04-13
    historical
17. 2026-04-13
    historical
18. 2026-03-27
    price $74,000
19. 2026-03-26
    price $74,000
20. 2026-01-05
    listed $79,900 Active
21. 2026-01-05
    listed $79,900 Active
22. 2019-01-11
    soldstatus $59,000
23. 2018-11-02
    soldstatus $35,000 Sold
24. 2018-11-02
    soldstatus $35,000 Closed
25. 2018-10-17
    status Pending
26. 2018-10-17
    status Pending
27. 2018-09-07
    listed $35,000 Active
28. 2018-09-07
    listed $35,000 Active
29. 1998-02-26
    soldstatus $32,000
30. 1994-07-18
    soldstatus $18,690

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 5/10 Major FEMA zone X (unshaded) · 66% 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: $15,879
• − Mortgage interest: −$3,641
• − Property taxes: −$1,028
• − Insurance: −$325
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$1,891
• Taxable income: $6,453
• Est. tax owed @ 24.0%: −$1,549
• After-tax cash flow: $5,552/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

+247.8% since first listed

17 events — show timeline

• 2026-05-19 Listed $65,000 REALCOMP
• 2026-05-19 Listed $65,000 MiRealSource-MiMLS
• 2026-04-13 Listing Removed — REALCOMP
• 2026-04-13 Listing Removed — MiRealSource-MiMLS
• 2026-03-27 Price Changed $74,000 MiRealSource-MiMLS
• 2026-03-26 Price Changed $74,000 REALCOMP
• 2026-01-05 Listed $79,900 REALCOMP
• 2026-01-05 Listed $79,900 MiRealSource-MiMLS
• 2019-01-11 Sold (Public Records) $59,000 Public Records
• 2018-11-02 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2018-11-02 Sold (MLS) $35,000 REALCOMP
• 2018-10-17 Pending — MiRealSource-MiMLS
• 2018-10-17 Pending — REALCOMP
• 2018-09-07 Listed $35,000 MiRealSource-MiMLS
• 2018-09-07 Listed $35,000 REALCOMP
• 1998-02-26 Sold (Public Records) $32,000 Public Records
• 1994-07-18 Sold (Public Records) $18,690 Public Records

Property tax history

-3.0%/yr

Latest (2025): $1,028 · +1.6% YoY. Source: county tax records.