15487 Meyers Rd · Detroit, MI 48227

$150,000

3 bd · 1.5 ba · 1,607 sqft · SingleFamily public records · 58 Days on market

Built 1996 3,049 sqft lot Est $135k · 11% over

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Why this score? — see what drove the D- 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 +16.3/30.0
• DSCR +5.1/10.0
• 1% rule +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stop renting and start owning! This 2-bedroom home features a spacious primary bedroom with two closets, a large living and dining area, 1 full bath plus a half bath on the main floor, and easy-care laminate flooring throughout. Enjoy peace of mind with a newer furnace and central air, plus a sliding door to a deck and fenced backyard. Includes a 1-car attached garage and convenient access to shopping, dining, and freeways. MSHDA down payment assistance available for qualified first-time home buyers - homeownership may be closer than you think!

Key facts

• Newer furnace
• Sliding door to deck
• Central air

Tags

• SPACIOUS PRIMARY BEDROOM
• LARGE LIVING AND DINING AREA
• NEWER FURNACE
• CENTRAL AIR
• SLIDING DOOR TO DECK
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (9.6% below list).
• Recommended offer: $136k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: John R King Academic And Performing Arts Academy (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 814 students, 92% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 45% of the median local income ($37k/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 $1k 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.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Recommended offer $135,588 (9.6% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $134,988
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15788 Littlefield St	0.34mi	3/1.0	1,608 (+0%)	4mo	$95,000	$59	79
15894 Snowden St	0.45mi	3/1.5	1,562 (-3%)	4mo	$150,000	$96	71
15841 Steel St	0.24mi	3/1.0	1,460 (-9%)	1mo	$50,000	$34	71
15087 Pinehurst St	0.32mi	3/1.0	1,497 (-7%)	4mo	$55,000	$37	68
16811 Manor St	0.64mi	3/1.5	1,516 (-6%)	1mo	$71,000	$47	60
16627 Appoline St	0.60mi	4/1.5 (+1)	1,544 (-4%)	4mo	$64,000	$41	57
16631 Sorrento St	0.62mi	4/2.0 (+1)	1,537 (-4%)	3mo	$154,400	$100	55
16224 Washburn St	0.63mi	3/1.5	1,790 (+11%)	2mo	$174,999	$98	50
16500 Griggs St	0.59mi	3/1.5	1,427 (-11%)	4mo	$130,000	$91	50
14905 Littlefield St	0.54mi	3/1.0	1,368 (-15%)	1mo	$52,000	$38	47
14889 Manor St	0.44mi	4/2.5 (+1)	1,375 (-14%)	0mo	$159,000	$116	46
16862 Sorrento St	0.70mi	3/1.0	1,387 (-14%)	4mo	$116,000	$84	39

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: -9.8%
• Equity multiple: 0.63×
• Total profit: $-15,368
• Equity at exit: $22,365

10-year hold

• IRR: 2.7%
• Equity multiple: 1.22×
• Total profit: $9,120
• Equity at exit: $12,969

Cash invested: $42,000 (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: 392
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,356 high
• Mortgage (P&I): −$787
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $84

Break-even live

Break-even rent $1,250

Max offer price $150,000

Occupancy floor 89%

Sensitivity live

Price	-10% $169	-5% $126	+0% $84	+5% $41	+10% $-1
Rent	-10% $-24	-5% $30	+0% $84	+5% $137	+10% $191
Rate	-1.0pp $159	-0.5pp $122	base $84	+0.5pp $45	+1.0pp $5

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	45d	1	0.19mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	7d	1	0.32mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	23d	1	0.39mi
15765 Washburn St Unit 15767 Washburn Upper Detroit, MI	2.0	1.0	1093	$950	$0.87	0d	1	0.47mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	45d	1	0.51mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	14d	1	0.60mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.70mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	19d	1	0.78mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	45d	1	0.78mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	45d	1	0.80mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.82mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	45d	1	0.82mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.86mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	19d	1	0.86mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	45d	1	0.88mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	22d	1	0.88mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	26d	1	0.89mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	0.95mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	1.01mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	1.08mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	18d	1	1.09mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	19d	1	1.12mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	45d	1	1.12mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	1.12mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	1.16mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	26d	1	1.17mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	7d	1	1.21mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	17d	1	1.23mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	26d	1	1.24mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	22d	1	1.24mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	19d	1	1.26mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	45d	1	1.28mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	22d	1	1.32mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	7d	1	1.34mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	18d	1	1.34mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	1.37mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	1.37mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	19d	1	1.40mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	3d	1	1.40mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	26d	1	1.44mi

Listing history 10 events

1. 2026-04-06
   status Pending 550-char remark

   Show marketing remark (550 chars)

   Stop renting and start owning! This 2-bedroom home features a spacious primary bedroom with two closets, a large living and dining area, 1 full bath plus a half bath on the main floor, and easy-care laminate flooring throughout. Enjoy peace of mind with a newer furnace and central air, plus a sliding door to a deck and fenced backyard. Includes a 1-car attached garage and convenient access to shopping, dining, and freeways. MSHDA down payment assistance available for qualified first-time home buyers - homeownership may be closer than you think!

2. 2026-04-06
   status Pending

   Show marketing remark (550 chars)

   Stop renting and start owning! This 2-bedroom home features a spacious primary bedroom with two closets, a large living and dining area, 1 full bath plus a half bath on the main floor, and easy-care laminate flooring throughout. Enjoy peace of mind with a newer furnace and central air, plus a sliding door to a deck and fenced backyard. Includes a 1-car attached garage and convenient access to shopping, dining, and freeways. MSHDA down payment assistance available for qualified first-time home buyers - homeownership may be closer than you think!

3. 2026-02-07
   listed $150,000 Active 550-char remark

   Show marketing remark (550 chars)

   Stop renting and start owning! This 2-bedroom home features a spacious primary bedroom with two closets, a large living and dining area, 1 full bath plus a half bath on the main floor, and easy-care laminate flooring throughout. Enjoy peace of mind with a newer furnace and central air, plus a sliding door to a deck and fenced backyard. Includes a 1-car attached garage and convenient access to shopping, dining, and freeways. MSHDA down payment assistance available for qualified first-time home buyers - homeownership may be closer than you think!

4. 2026-02-07
   listed $150,000 Active

   Show marketing remark (550 chars)

   Stop renting and start owning! This 2-bedroom home features a spacious primary bedroom with two closets, a large living and dining area, 1 full bath plus a half bath on the main floor, and easy-care laminate flooring throughout. Enjoy peace of mind with a newer furnace and central air, plus a sliding door to a deck and fenced backyard. Includes a 1-car attached garage and convenient access to shopping, dining, and freeways. MSHDA down payment assistance available for qualified first-time home buyers - homeownership may be closer than you think!

5. 2024-06-17
   historical $1,300
6. 2024-06-06
   listed $1,300
7. 2024-06-06
   historical $1,300
8. 2024-06-05
   listed $1,300
9. 2024-06-05
   historical $1,300
10. 2024-06-05
    listed $1,300

ⓘ 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: $1,661 · $138/mo
• Projected year-2 tax: $1,986 · $165/mo
• Expected delta: +$324/yr (+$27/mo · 19.5%)

ⓘ 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 ≥97°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: $16,271
• − Mortgage interest: −$8,402
• − Property taxes: −$1,661
• − Insurance: −$750
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − Depreciation: −$4,364
• Taxable loss: −$1,510
• Est. tax savings @ 24.0%: +$362
• After-tax cash flow: $1,365/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

+11438.5% since first listed

10 events — show timeline

• 2026-04-06 Pending — MiRealSource-MiMLS
• 2026-04-06 Pending — REALCOMP
• 2026-02-07 Listed $150,000 MiRealSource-MiMLS
• 2026-02-07 Listed $150,000 REALCOMP
• 2024-06-17 Rental Removed $1,300 SWMMLS
• 2024-06-06 Listed for Rent $1,300 SWMMLS
• 2024-06-06 Rental Removed $1,300 REALCOMP
• 2024-06-05 Listed for Rent $1,300 REALCOMP
• 2024-06-05 Rental Removed $1,300 AAMLS
• 2024-06-05 Listed for Rent $1,300 AAMLS

Property tax history

-1.1%/yr

Latest (2025): $1,661 · +1.3% YoY. Source: county tax records.