15113 Prest St · Detroit, MI 48227

$111,000

3 bd · 1.0 ba · 1,348 sqft · SingleFamily public records · 42 Days on market

Built 1928 3,920 sqft lot $82/sqft · 57% above area ↓ 3% since listing

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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 +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +6.1/10.0
• 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

Listing remarks

Beautiful brick bungalow located in West Detroit. Property has 2 full baths, along with numerous updates including; windows, flooring, and fresh paint. With shopping, schools, entertainment, and public transportation in close proximity, you'll have access to everything you need. Home is currently tenant occupied with tenants who would like to stay and are paying market rate rent; making this an excellent opportunity for investors seeking stable income. Seller is liquidating properties as part of retirement. Wonderful, no work, investment opportunity!!! SHOWINGS AND INSPECTIONS WILL ONLY BE ALLOWED AFTER ACCEPTED OFFER. PLEASE DO NOT DISTURB TENANTS!!

Key facts

• Brick bungalow
• Numerous updates
• 3,920 sq ft lot

Tags

• BRICK BUNGALOW
• NUMEROUS UPDATES
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO SCHOOLS
• INVESTMENT OPPORTUNITY

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; Brick exterior
• Construction: Brick construction; Brick/mortar foundation; Built above grade finished area approximately 1,348 square feet
• Exterior features: Paved road access; Lot approximately 0.09 acres (30.5 x 130)

Interior

• Bathrooms: Two full bathrooms
• 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 $111k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• Recommended offer: $108k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 10.2% 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: 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); 385 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $767 of loan paydown is wiped out by about $3k 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 42 days — a 3% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 19y 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 $30k; list at $111k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,670 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.22% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 6.8

CMA / ARV

• ARV (median comp): $70,887
• List price: $111,000
• Delta: 56.59%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15328 Prest St E	0.09mi	3/1.5	1,298 (-4%)	3mo	$66,999	$52	85
14736 Mansfield St	0.44mi	3/1.0	1,318 (-2%)	0mo	$62,000	$47	76
15868 Whitcomb St	0.50mi	3/1.0	1,332 (-1%)	2mo	$95,000	$71	73
15771 Rutherford St	0.50mi	3/1.0	1,289 (-4%)	1mo	$55,106	$43	69
15727 Mansfield St	0.50mi	3/1.5	1,300 (-4%)	3mo	$55,000	$42	66
15316 Prevost St NE	0.25mi	2/1.5 (-1)	1,193 (-12%)	2mo	$157,000	$132	61
14644 Hubbell St	0.56mi	3/1.0	1,248 (-7%)	2mo	$45,000	$36	60
15763 Robson St	0.46mi	2/1.5 (-1)	1,485 (+10%)	3mo	$58,500	$39	52
15748 Freeland St	0.73mi	3/1.0	1,243 (-8%)	4mo	$78,000	$63	50
15725 Asbury Park	0.64mi	3/2.0	1,206 (-10%)	2mo	$80,200	$67	46
14400 Hubbell St	0.69mi	4/1.5 (+1)	1,444 (+7%)	4mo	$108,000	$75	45
15762 Ferguson St	0.68mi	4/2.0 (+1)	1,510 (+12%)	4mo	$82,000	$54	36

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: -5.4%
• Equity multiple: 0.79×
• Total profit: $-6,412
• Equity at exit: $16,550

10-year hold

• IRR: 7.7%
• Equity multiple: 1.67×
• Total profit: $20,718
• Equity at exit: $9,597

Cash invested: $31,080 (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: 385
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$582
• Tax from tax record: −$321 /mo · $3,853/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $123

Break-even live

Break-even rent $1,202

Max offer price $111,000

Occupancy floor 86%

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.20mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	0.24mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	0.24mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	0.24mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.25mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	43d	1	0.29mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	16d	1	0.31mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.32mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	0.34mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	43d	1	0.38mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	43d	1	0.39mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.42mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	16d	1	0.43mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	20d	1	0.44mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.46mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.52mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	12d	1	0.53mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	0.53mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	15d	1	0.58mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	0.60mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	43d	1	0.61mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	0.62mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	0.65mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	0.65mi
14535 Mettetal St Unit 1 Detroit, MI	2.0	1.0	965	$1,000	$1.04	43d	1	0.65mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.65mi
14510 Asbury Park Detroit, MI	2.0	1.0	1771	$1,250	$0.71	43d	1	0.68mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	43d	1	0.70mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	0.70mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	0.70mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	0.71mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	0.79mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	0.81mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.86mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	0.86mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	0.89mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.89mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	0.92mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	0.97mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	0.98mi

Listing history 50 events

1. 2026-06-18
   days on market $111,000 Active 42 DOM
2. 2026-06-17
   days on market $111,000 Active 41 DOM
3. 2026-06-15
   days on market $111,000 Active 39 DOM
4. 2026-06-13
   days on market $111,000 Active 37 DOM
5. 2026-06-13
   days on market $111,000 Active 36 DOM
6. 2026-06-09
   days on market $111,000 Active 33 DOM
7. 2026-06-08
   days on market $111,000 Active 32 DOM
8. 2026-06-07
   days on market $111,000 Active 31 DOM
9. 2026-06-04
   days on market $111,000 Active 28 DOM
10. 2026-06-03
    days on market $111,000 Active 27 DOM
11. 2026-06-02
    days on market $111,000 Active 26 DOM
12. 2026-06-01
    days on market $111,000 Active 25 DOM
13. 2026-05-31
    days on market $111,000 Active 24 DOM
14. 2026-05-07
    historical
15. 2026-05-07
    historical
16. 2026-05-07
    listed $111,000 Active
17. 2026-05-07
    listed $111,000 Active
18. 2026-04-27
    listed $112,000 Active
19. 2026-04-27
    listed $112,000 Active
20. 2026-04-27
    historical
21. 2026-04-27
    historical
22. 2026-03-03
    listed $125,000 Active
23. 2026-03-03
    listed $125,000 Active
24. 2026-03-02
    historical
25. 2026-03-02
    historical
26. 2026-02-19
    price $112,900
27. 2026-02-19
    price $112,900
28. 2025-12-21
    listed $114,900 Active
29. 2025-12-20
    listed $114,900 Active
30. 2025-12-18
    historical
31. 2025-12-18
    historical
32. 2025-08-15
    listed $115,000 Active
33. 2025-08-15
    listed $115,000 Active
34. 2025-08-11
    historical
35. 2025-07-22
    status Active
36. 2025-07-22
    status Active
37. 2025-07-01
    status Pending
38. 2025-06-30
    status Pending
39. 2025-06-30
    historical
40. 2025-05-19
    listed $115,000 Active
41. 2025-05-19
    listed $115,000 Active
42. 2024-01-15
    soldstatus $30,000 Sold
43. 2024-01-15
    soldstatus $30,000 Closed
44. 2024-01-15
    status Pending
45. 2024-01-15
    status Pending
46. 2023-11-17
    price $34,900
47. 2023-11-17
    price $34,900
48. 2023-11-03
    price $36,000
49. 2023-11-03
    price $36,000
50. 2023-10-25
    price $39,900

ⓘ 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: $3,853 · $321/mo
• Projected year-2 tax: $3,853 · $321/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 · 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: $16,286
• − Mortgage interest: −$6,218
• − Property taxes: −$3,853
• − Insurance: −$555
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,229
• Taxable loss: −$175
• Est. tax savings @ 24.0%: +$42
• After-tax cash flow: $1,514/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

-3.5% since first listed

55 events — show timeline

• 2026-05-07 Listed $111,000 MiRealSource-MiMLS
• 2026-05-07 Listed $111,000 REALCOMP
• 2026-05-07 Listing Removed — REALCOMP
• 2026-05-07 Listing Removed — MiRealSource-MiMLS
• 2026-04-27 Listed $112,000 REALCOMP
• 2026-04-27 Listing Removed — MiRealSource-MiMLS
• 2026-04-27 Listing Removed — REALCOMP
• 2026-04-27 Listed $112,000 MiRealSource-MiMLS
• 2026-03-03 Listed $125,000 MiRealSource-MiMLS
• 2026-03-03 Listed $125,000 REALCOMP
• 2026-03-02 Listing Removed — REALCOMP
• 2026-03-02 Listing Removed — MiRealSource-MiMLS
• 2026-02-19 Price Changed $112,900 MiRealSource-MiMLS
• 2026-02-19 Price Changed $112,900 REALCOMP
• 2025-12-21 Listed $114,900 REALCOMP
• 2025-12-20 Listed $114,900 MiRealSource-MiMLS
• 2025-12-18 Listing Removed — REALCOMP
• 2025-12-18 Listing Removed — MiRealSource-MiMLS
• 2025-08-15 Listed $115,000 REALCOMP
• 2025-08-15 Listed $115,000 MiRealSource-MiMLS
• 2025-08-11 Listing Removed — MiRealSource-MiMLS
• 2025-07-22 Relisted — MiRealSource-MiMLS
• 2025-07-22 Relisted — REALCOMP
• 2025-07-01 Pending — MiRealSource-MiMLS
• 2025-06-30 Pending — REALCOMP
• 2025-06-30 Listing Removed — REALCOMP
• 2025-05-19 Listed $115,000 REALCOMP
• 2025-05-19 Listed $115,000 MiRealSource-MiMLS
• 2024-01-15 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2024-01-15 Sold (MLS) $30,000 REALCOMP
• 2024-01-15 Pending — MiRealSource-MiMLS
• 2024-01-15 Pending — REALCOMP
• 2023-11-17 Price Changed $34,900 MiRealSource-MiMLS
• 2023-11-17 Price Changed $34,900 REALCOMP
• 2023-11-03 Price Changed $36,000 MiRealSource-MiMLS
• 2023-11-03 Price Changed $36,000 REALCOMP
• 2023-10-25 Price Changed $39,900 MiRealSource-MiMLS
• 2023-10-25 Price Changed $39,900 REALCOMP
• 2023-10-25 Relisted — MiRealSource-MiMLS
• 2023-10-25 Relisted — REALCOMP
• 2023-10-24 Pending — MiRealSource-MiMLS
• 2023-10-24 Pending — REALCOMP
• 2023-10-06 Price Changed $47,000 MiRealSource-MiMLS
• 2023-10-05 Price Changed $47,000 REALCOMP
• 2023-09-10 Listed $49,000 MiRealSource-MiMLS
• 2023-09-10 Listed $49,000 REALCOMP
• 2019-02-01 Listing Removed — REALCOMP
• 2019-01-31 Listing Removed — MiRealSource-MiMLS
• 2018-06-28 Listed $63,500 MiRealSource-MiMLS
• 2018-06-28 Listed $63,500 REALCOMP
• 2018-03-07 Sold (Public Records) $442,500 Public Records
• 2008-10-03 Listing Removed — REALCOMP
• 2008-04-02 Listed $115,000 REALCOMP
• 2008-02-28 Listing Removed — REALCOMP
• 2007-08-03 Listed $115,000 REALCOMP

Property tax history

+13.7%/yr

Latest (2025): $3,853 · +51.7% YoY. Source: county tax records.