15220 Tacoma St · Detroit, MI 48205

$60,000

3 bd · 1.0 ba · 1,206 sqft · SingleFamily public records · 25 Days on market

Built 1954 5,227 sqft lot Est $90k · 34% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great investment opportunity in Detroit! This classic bungalow offers immense potential for investors looking to add to their portfolio or equity builders ready for their next project. Featuring a traditional layout and distinct bungalow charm, this property serves as a blank canvas awaiting your renovations and personal touch. The property is being sold strictly in its current, AS-IS condition, and the seller will not make or pay for any repairs or property remediation. Buyer to verify all room sizes, data, and utility information. Bring your vision and tool belt to maximize the value of this Detroit gem - schedule your private tour today!

Key facts

• Classic bungalow
• As is condition
• Traditional layout

Tags

• CLASSIC BUNGALOW
• TRADITIONAL LAYOUT
• AS IS CONDITION

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story; Ground-level entry with steps; Vinyl siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 40 x 125 (0.12 acres)

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.8% 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 (+1.3%/yr); 376 active listings in the ZIP; 40 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 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 $415 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y 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.
• Current owner paid $5k; list at $60k implies a 1124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — 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: 2.20% ✓
• Cap rate: 18.76%
• Cash-on-cash: 44.52%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $90,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15011 Bringard Dr	0.36mi	3/1.0	1,208 (+0%)	2mo	$125,000	$103	82
14910 Fairmount Dr	0.26mi	3/1.0	1,116 (-8%)	1mo	$15,000	$13	74
15416 Eastwood St	0.55mi	3/1.0	1,211 (+0%)	2mo	$70,000	$58	72
14788 Rossini Dr	0.28mi	3/1.0	1,099 (-9%)	1mo	$82,000	$75	71
16092 Manning St	0.56mi	3/1.5	1,200 (-0%)	0mo	$20,000	$17	71
15275 Eastburn St	0.29mi	3/1.0	1,100 (-9%)	2mo	$56,000	$51	71
15644 Carlisle St	0.57mi	3/1.0	1,055 (-12%)	0mo	$129,900	$123	52
14078 Bringard Dr	0.74mi	3/1.5	1,110 (-8%)	2mo	$76,000	$68	49
19953 Regent Dr	0.57mi	3/1.0	1,038 (-14%)	2mo	$55,000	$53	49
14076 Rossini Dr	0.68mi	3/1.0	1,055 (-12%)	0mo	$90,000	$85	47
16087 Collingham Dr	0.73mi	3/1.5	1,339 (+11%)	2mo	$135,000	$101	44
16260 Bringard Dr	0.73mi	3/1.0	1,036 (-14%)	0mo	$80,000	$77	42

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: 39.6%
• Equity multiple: 2.66×
• Total profit: $27,813
• Equity at exit: $8,946

10-year hold

• IRR: 45.2%
• Equity multiple: 4.97×
• Total profit: $66,766
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,320 high
• Mortgage (P&I): −$315
• Tax from tax record: −$80 /mo · $963/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $623

Break-even live

Break-even rent $531

Max offer price $60,000

Occupancy floor 48%

Sensitivity live

Price	-10% $657	-5% $640	+0% $623	+5% $606	+10% $589
Rent	-10% $519	-5% $571	+0% $623	+5% $675	+10% $728
Rate	-1.0pp $653	-0.5pp $639	base $623	+0.5pp $608	+1.0pp $592

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	45d	1	0.36mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	45d	1	0.42mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	0.50mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	18d	1	0.54mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.57mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	0.57mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	45d	1	0.59mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	0.59mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	45d	1	0.63mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	4d	1	0.65mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	6d	1	0.70mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.73mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.73mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	45d	1	0.75mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	25d	1	0.77mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	16d	1	0.81mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.83mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	18d	1	0.84mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	45d	1	0.92mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.97mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	1.00mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	1.01mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	1.10mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	45d	1	1.15mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	1.16mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	1.20mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.21mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.22mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	1.26mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	1.26mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	1.28mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	1.29mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	1.30mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	45d	1	1.30mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	1.34mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	45d	1	1.34mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	45d	1	1.37mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.37mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	1.38mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	19d	1	1.40mi

Listing history 40 events

1. 2026-06-21
   days on market $60,000 Active 25 DOM
2. 2026-06-18
   days on market $60,000 Active 22 DOM
3. 2026-06-17
   days on market $60,000 Active 21 DOM
4. 2026-06-15
   days on market $60,000 Active 19 DOM
5. 2026-06-13
   days on market $60,000 Active 17 DOM
6. 2026-06-13
   days on market $60,000 Active 16 DOM
7. 2026-06-09
   days on market $60,000 Active 13 DOM
8. 2026-06-08
   days on market $60,000 Active 12 DOM
9. 2026-06-07
   days on market $60,000 Active 11 DOM
10. 2026-06-04
    days on market $60,000 Active 8 DOM
11. 2026-06-03
    days on market $60,000 Active 7 DOM
12. 2026-06-02
    days on market $60,000 Active 6 DOM
13. 2026-06-01
    days on market $60,000 Active 5 DOM
14. 2026-05-31
    days on market $60,000 Active 4 DOM
15. 2026-05-27
    listed $60,000 Active

    Show marketing remark (648 chars)

    Great investment opportunity in Detroit! This classic bungalow offers immense potential for investors looking to add to their portfolio or equity builders ready for their next project. Featuring a traditional layout and distinct bungalow charm, this property serves as a blank canvas awaiting your renovations and personal touch. The property is being sold strictly in its current, AS-IS condition, and the seller will not make or pay for any repairs or property remediation. Buyer to verify all room sizes, data, and utility information. Bring your vision and tool belt to maximize the value of this Detroit gem - schedule your private tour today!

16. 2026-05-27
    listed $60,000 Active 648-char remark

    Show marketing remark (648 chars)

    Great investment opportunity in Detroit! This classic bungalow offers immense potential for investors looking to add to their portfolio or equity builders ready for their next project. Featuring a traditional layout and distinct bungalow charm, this property serves as a blank canvas awaiting your renovations and personal touch. The property is being sold strictly in its current, AS-IS condition, and the seller will not make or pay for any repairs or property remediation. Buyer to verify all room sizes, data, and utility information. Bring your vision and tool belt to maximize the value of this Detroit gem - schedule your private tour today!

17. 2026-02-27
    historical
18. 2026-02-27
    historical
19. 2026-01-28
    price $69,500
20. 2026-01-27
    price $69,500
21. 2025-12-23
    price $74,500
22. 2025-12-23
    price $74,500
23. 2025-12-09
    price $84,500
24. 2025-12-08
    price $84,500
25. 2025-11-28
    listed $99,500 Active
26. 2025-11-28
    listed $99,500 Active
27. 2007-12-14
    soldstatus $4,900
28. 2007-12-14
    soldstatus $4,900
29. 2007-11-29
    historical
30. 2007-10-29
    listed $4,900
31. 2007-10-29
    listed $4,900
32. 2007-10-25
    historical
33. 2007-10-25
    historical
34. 2007-10-13
    listed $9,900
35. 2007-08-27
    historical
36. 2007-05-29
    listed $9,900
37. 2007-05-29
    listed $9,900
38. 1994-10-07
    soldstatus $32,900
39. 1994-09-29
    soldstatus $32,900
40. 1994-05-26
    listed $32,900

ⓘ 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: $963 · $80/mo
• Projected year-2 tax: $963 · $80/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) · 47% 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: $15,845
• − Mortgage interest: −$3,361
• − Property taxes: −$963
• − Insurance: −$300
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$1,745
• Taxable income: $6,941
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $5,813/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

+82.4% since first listed

26 events — show timeline

• 2026-05-27 Listed $60,000 REALCOMP
• 2026-05-27 Listed $60,000 MiRealSource-MiMLS
• 2026-02-27 Listing Removed — REALCOMP
• 2026-02-27 Listing Removed — MiRealSource-MiMLS
• 2026-01-28 Price Changed $69,500 MiRealSource-MiMLS
• 2026-01-27 Price Changed $69,500 REALCOMP
• 2025-12-23 Price Changed $74,500 MiRealSource-MiMLS
• 2025-12-23 Price Changed $74,500 REALCOMP
• 2025-12-09 Price Changed $84,500 MiRealSource-MiMLS
• 2025-12-08 Price Changed $84,500 REALCOMP
• 2025-11-28 Listed $99,500 REALCOMP
• 2025-11-28 Listed $99,500 MiRealSource-MiMLS
• 2007-12-14 Sold (MLS) $4,900 MiRealSource-MiMLS
• 2007-12-14 Sold (MLS) $4,900 REALCOMP
• 2007-11-29 Listing Removed — MiRealSource-MiMLS
• 2007-10-29 Listed $4,900 MiRealSource-MiMLS
• 2007-10-29 Listed $4,900 REALCOMP
• 2007-10-25 Listing Removed — REALCOMP
• 2007-10-25 Listing Removed — MiRealSource-MiMLS
• 2007-10-13 Listed $9,900 REALCOMP
• 2007-08-27 Listing Removed — REALCOMP
• 2007-05-29 Listed $9,900 REALCOMP
• 2007-05-29 Listed $9,900 MiRealSource-MiMLS
• 1994-10-07 Sold (Public Records) $32,900 Public Records
• 1994-09-29 Sold (MLS) $32,900 MiRealSource-MiMLS
• 1994-05-26 Listed $32,900 MiRealSource-MiMLS

Property tax history

-5.2%/yr

Latest (2025): $963 · -55.0% YoY. Source: county tax records.