15016 Troester St · Detroit, MI 48205

$45,900

3 bd · 1.0 ba · 1,159 sqft · SingleFamily public records · 189 Days on market

Built 1952 4,356 sqft lot $40/sqft · 17% below area Est $52k · 12% under ↓ 42% 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
• ARV discount +13.0/15.0
• 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

Seller says bring all reasonable offers. Good solid home with natural fireplace in the living room! New roof on house and garage. Home is occupied, non-paying tenant, so no showings at this time. Condition at this time is unknown. Pictures are when the seller occupied the home

Key facts

• Natural fireplace
• New roof
• 4,356 sq ft lot

Tags

• NATURAL FIREPLACE
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $724 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.2% 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 18d 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 $317 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.87% ✓
• Cap rate: 25.22%
• Cash-on-cash: 67.60%
• DSCR: 4.01
• GRM: 2.9

CMA / ARV

• ARV (median comp): $52,348
• List price: $45,900
• Delta: -12.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15411 Young St St	0.28mi	3/1.5	1,240 (+7%)	2mo	$95,000	$77	72
15419 Young St	0.29mi	3/1.0	1,250 (+8%)	3mo	$54,500	$44	71
15416 Eastwood St	0.57mi	3/1.0	1,211 (+4%)	2mo	$70,000	$58	64
12519 Riad St	0.71mi	3/1.0	1,135 (-2%)	0mo	$100,000	$88	63
14750 Lannette St	0.62mi	3/1.0	1,099 (-5%)	3mo	$78,000	$71	60
15256 Fordham St	0.59mi	3/1.5	1,099 (-5%)	3mo	$60,000	$55	59
14728 Wilfred St	0.52mi	3/1.0	1,050 (-9%)	3mo	$30,500	$29	58
15652 Eastwood St	0.68mi	3/1.0	1,221 (+5%)	4mo	$53,700	$44	56
11742 Whitehill St	0.68mi	3/1.5	1,228 (+6%)	1mo	$61,000	$50	56
15430 Mapleridge St	0.32mi	4/1.5 (+1)	1,320 (+14%)	1mo	$123,000	$93	54
14210 Wilfred St	0.74mi	3/1.0	1,264 (+9%)	0mo	$17,000	$13	50
10904 N Mogul St	0.72mi	3/1.0	1,045 (-10%)	0mo	$113,000	$108	50

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: 65.1%
• Equity multiple: 3.84×
• Total profit: $36,520
• Equity at exit: $6,844

10-year hold

• IRR: 68.9%
• Equity multiple: 7.43×
• Total profit: $82,627
• Equity at exit: $3,969

Cash invested: $12,852 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$241
• Tax from tax record: −$56 /mo · $668/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $724

Break-even live

Break-even rent $399

Max offer price $45,900

Occupancy floor 40%

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.05mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.26mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.37mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	0.56mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.75mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.75mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	0.78mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.78mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.79mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	0.82mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.83mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.83mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.85mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.87mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.88mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.89mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	0.91mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.92mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.93mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.93mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.94mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.96mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.98mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	1.01mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	1.04mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.04mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.07mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.07mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	1.10mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	1.10mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	18d	1	1.10mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	5d	1	1.10mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	1.11mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	1.12mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	1.13mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	1.15mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	1.15mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	15d	1	1.18mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	1.18mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.19mi

Listing history 30 events

1. 2026-06-18
   days on market $45,900 Active 189 DOM
2. 2026-06-17
   days on market $45,900 Active 188 DOM
3. 2026-06-15
   days on market $45,900 Active 186 DOM
4. 2026-06-13
   days on market $45,900 Active 184 DOM
5. 2026-06-13
   days on market $45,900 Active 183 DOM
6. 2026-06-09
   days on market $45,900 Active 180 DOM
7. 2026-06-08
   days on market $45,900 Active 179 DOM
8. 2026-06-07
   days on market $45,900 Active 178 DOM
9. 2026-06-04
   days on market $45,900 Active 175 DOM
10. 2026-06-03
    days on market $45,900 Active 174 DOM
11. 2026-06-01
    days on market $45,900 Active 172 DOM
12. 2026-05-31
    days on market $45,900 Active 171 DOM
13. 2025-12-11
    historical

    Show marketing remark (278 chars)

    Seller says bring all reasonable offers. Good solid home with natural fireplace in the living room! New roof on house and garage. Home is occupied, non-paying tenant, so no showings at this time. Condition at this time is unknown. Pictures are when the seller occupied the home

14. 2025-12-11
    listed $45,900 Active 278-char remark

    Show marketing remark (278 chars)

    Seller says bring all reasonable offers. Good solid home with natural fireplace in the living room! New roof on house and garage. Home is occupied, non-paying tenant, so no showings at this time. Condition at this time is unknown. Pictures are when the seller occupied the home

15. 2025-12-11
    listed $45,900 Active

    Show marketing remark (278 chars)

    Seller says bring all reasonable offers. Good solid home with natural fireplace in the living room! New roof on house and garage. Home is occupied, non-paying tenant, so no showings at this time. Condition at this time is unknown. Pictures are when the seller occupied the home

16. 2025-12-11
    historical

    Show marketing remark (278 chars)

    Seller says bring all reasonable offers. Good solid home with natural fireplace in the living room! New roof on house and garage. Home is occupied, non-paying tenant, so no showings at this time. Condition at this time is unknown. Pictures are when the seller occupied the home

17. 2025-07-25
    status Active
18. 2025-07-25
    status Active
19. 2025-07-02
    historical Active Under Contract
20. 2025-07-02
    historical Accepting Backup Offers
21. 2025-06-09
    listed $44,900 Active
22. 2025-06-09
    listed $44,900 Active
23. 2006-12-27
    soldstatus $85,000
24. 2006-08-25
    soldstatus $39,200
25. 2005-08-26
    soldstatus $39,200
26. 2005-08-15
    historical
27. 2005-07-20
    listed $42,800
28. 2005-07-20
    listed $42,800
29. 2005-05-01
    historical
30. 2004-09-20
    listed $78,800

ⓘ 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: $668 · $56/mo
• Projected year-2 tax: $688 · $57/mo
• Expected delta: +$19/yr (+$2/mo · 2.9%)

ⓘ 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 ≥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: $15,791
• − Mortgage interest: −$2,571
• − Property taxes: −$668
• − Insurance: −$230
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$1,335
• Taxable income: $8,460
• Est. tax owed @ 24.0%: −$2,030
• After-tax cash flow: $6,658/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

-41.8% since first listed

18 events — show timeline

• 2025-12-11 Listing Removed — MiRealSource-MiMLS
• 2025-12-11 Listed $45,900 MiRealSource-MiMLS
• 2025-12-11 Listed $45,900 REALCOMP
• 2025-12-11 Listing Removed — REALCOMP
• 2025-07-25 Relisted — REALCOMP
• 2025-07-25 Relisted — MiRealSource-MiMLS
• 2025-07-02 Contingent — REALCOMP
• 2025-07-02 Contingent — MiRealSource-MiMLS
• 2025-06-09 Listed $44,900 MiRealSource-MiMLS
• 2025-06-09 Listed $44,900 REALCOMP
• 2006-12-27 Sold (Public Records) $85,000 Public Records
• 2006-08-25 Sold (MLS) $39,200 MiRealSource-MiMLS
• 2005-08-26 Sold (MLS) $39,200 REALCOMP
• 2005-08-15 Listing Removed — MiRealSource-MiMLS
• 2005-07-20 Listed $42,800 REALCOMP
• 2005-07-20 Listed $42,800 MiRealSource-MiMLS
• 2005-05-01 Listing Removed — REALCOMP
• 2004-09-20 Listed $78,800 REALCOMP

Property tax history

+9.8%/yr

Latest (2025): $668 · -54.3% YoY. Source: county tax records.