15464 Oakfield St · Detroit, MI 48227

$99,900

4 bd · 1.5 ba · 1,518 sqft · SingleFamily public records · 20 Days on market

Built 1920 0.28 ac lot Est $93k · 8% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.0/15.0
• 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 MLS

Classic Detroit brick bungalow offering exceptional potential for an owner-occupant or investor. Enjoy a spacious living room with coved ceilings and a wood-burning fireplace, a formal dining area, and a functional kitchen with ample cabinet space. A 3-season room off the kitchen provides additional flexible living space. The home features two main-floor bedrooms and two upper bedrooms, allowing for versatile use. A Covered front porch and a full basement with walkout access offers even more room for storage, future finishing, or the possibility of an additional bedroom. Home includes a generator hookup for added peace of mind. Large fenced yard with rear accessibility ramp. Newer high-efficiency Trane furnace. Conveniently located near parks, schools, and major roadways. Sold as-is - bring your ideas and make it your own!

Key facts

• Functional kitchen
• Formal dining area
• Ample cabinet space

Tags

• SPACIOUS LIVING ROOM
• FORMAL DINING AREA
• FUNCTIONAL KITCHEN
• AMPLE CABINET SPACE
• 3-SEASON ROOM
• ENCLOSED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $1,529/mo this rent would consume 50% of the median local household income ($37k/yr) (locally 2371% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $7k; list at $100k implies a 1268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.53% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.99%
• DSCR: 1.98
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $92,598
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15455 Lindsay St St	0.05mi	3/2.0 (-1)	1,500 (-1%)	4mo	$198,000	$132	85
15762 Ferguson St	0.28mi	4/2.0	1,510 (-0%)	4mo	$82,000	$54	81
15357 Rutherford St	0.50mi	3/1.5 (-1)	1,592 (+5%)	2mo	$45,000	$28	62
16533 Harlow St	0.47mi	3/1.5 (-1)	1,385 (-9%)	2mo	$83,989	$61	57
15482 Rutherford St	0.52mi	3/1.0 (-1)	1,653 (+9%)	0mo	$65,000	$39	54
14837 Ashton Rd	0.57mi	3/1.5 (-1)	1,386 (-9%)	2mo	$200,000	$144	52
16601 Ferguson St	0.57mi	3/2.5 (-1)	1,625 (+7%)	1mo	$189,900	$117	52
15530 Winthrop St	0.73mi	3/1.0 (-1)	1,573 (+4%)	3mo	$60,000	$38	50
15727 Mansfield St	0.44mi	3/1.5 (-1)	1,300 (-14%)	3mo	$55,000	$42	48
15092 Faust Ave	0.52mi	3/2.0 (-1)	1,310 (-14%)	1mo	$127,500	$97	46
14529 Asbury Park	0.71mi	4/2.0	1,688 (+11%)	4mo	$127,500	$76	43
14736 Mansfield St	0.66mi	3/1.0 (-1)	1,318 (-13%)	0mo	$62,000	$47	40

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: 17.6%
• Equity multiple: 1.74×
• Total profit: $20,571
• Equity at exit: $14,895

10-year hold

• IRR: 27.9%
• Equity multiple: 3.78×
• Total profit: $77,744
• Equity at exit: $8,638

Cash invested: $27,972 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,529 high
• Mortgage (P&I): −$524
• Tax from tax record: −$130 /mo · $1,559/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $513

Break-even live

Break-even rent $880

Max offer price $99,900

Occupancy floor 61%

Sensitivity live

Price	-10% $569	-5% $541	+0% $513	+5% $484	+10% $456
Rent	-10% $392	-5% $452	+0% $513	+5% $573	+10% $633
Rate	-1.0pp $563	-0.5pp $538	base $513	+0.5pp $487	+1.0pp $460

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	0.23mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	17d	1	0.43mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	15d	1	0.47mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	4d	1	0.48mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	25d	1	0.52mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.53mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	25d	1	0.54mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	44d	1	0.63mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	44d	1	0.76mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	44d	1	0.79mi
16757 Greenview Ave Unit 1A Detroit, MI	3.0	1.5	1600	$1,500	$0.94	5d	1	0.82mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.93mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	18d	1	0.96mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	20d	1	1.00mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	1.03mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	25d	1	1.05mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	1.10mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	25d	1	1.12mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	1.13mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	1.15mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	44d	1	1.24mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	44d	1	1.24mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	15d	1	1.25mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	17d	1	1.32mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	44d	1	1.33mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.35mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	44d	1	1.39mi
14828 Heyden St Detroit, MI	3.0	1.0	1562	$1,350	$0.86	18d	1	1.39mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	1.42mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	1.44mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	44d	1	1.47mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	44d	1	1.48mi

Listing history 9 events

1. 2025-12-22
   status Pending 834-char remark

   Show marketing remark (834 chars)

   Classic Detroit brick bungalow offering exceptional potential for an owner-occupant or investor. Enjoy a spacious living room with coved ceilings and a wood-burning fireplace, a formal dining area, and a functional kitchen with ample cabinet space. A 3-season room off the kitchen provides additional flexible living space. The home features two main-floor bedrooms and two upper bedrooms, allowing for versatile use. A Covered front porch and a full basement with walkout access offers even more room for storage, future finishing, or the possibility of an additional bedroom. Home includes a generator hookup for added peace of mind. Large fenced yard with rear accessibility ramp. Newer high-efficiency Trane furnace. Conveniently located near parks, schools, and major roadways. Sold as-is - bring your ideas and make it your own!

2. 2025-12-22
   status Pending

   Show marketing remark (834 chars)

   Classic Detroit brick bungalow offering exceptional potential for an owner-occupant or investor. Enjoy a spacious living room with coved ceilings and a wood-burning fireplace, a formal dining area, and a functional kitchen with ample cabinet space. A 3-season room off the kitchen provides additional flexible living space. The home features two main-floor bedrooms and two upper bedrooms, allowing for versatile use. A Covered front porch and a full basement with walkout access offers even more room for storage, future finishing, or the possibility of an additional bedroom. Home includes a generator hookup for added peace of mind. Large fenced yard with rear accessibility ramp. Newer high-efficiency Trane furnace. Conveniently located near parks, schools, and major roadways. Sold as-is - bring your ideas and make it your own!

3. 2025-12-02
   listed $99,900 Active 834-char remark

   Show marketing remark (834 chars)

   Classic Detroit brick bungalow offering exceptional potential for an owner-occupant or investor. Enjoy a spacious living room with coved ceilings and a wood-burning fireplace, a formal dining area, and a functional kitchen with ample cabinet space. A 3-season room off the kitchen provides additional flexible living space. The home features two main-floor bedrooms and two upper bedrooms, allowing for versatile use. A Covered front porch and a full basement with walkout access offers even more room for storage, future finishing, or the possibility of an additional bedroom. Home includes a generator hookup for added peace of mind. Large fenced yard with rear accessibility ramp. Newer high-efficiency Trane furnace. Conveniently located near parks, schools, and major roadways. Sold as-is - bring your ideas and make it your own!

4. 2025-12-02
   listed $99,900 Active

   Show marketing remark (834 chars)

   Classic Detroit brick bungalow offering exceptional potential for an owner-occupant or investor. Enjoy a spacious living room with coved ceilings and a wood-burning fireplace, a formal dining area, and a functional kitchen with ample cabinet space. A 3-season room off the kitchen provides additional flexible living space. The home features two main-floor bedrooms and two upper bedrooms, allowing for versatile use. A Covered front porch and a full basement with walkout access offers even more room for storage, future finishing, or the possibility of an additional bedroom. Home includes a generator hookup for added peace of mind. Large fenced yard with rear accessibility ramp. Newer high-efficiency Trane furnace. Conveniently located near parks, schools, and major roadways. Sold as-is - bring your ideas and make it your own!

5. 2012-07-30
   soldstatus $7,300 92-char remark

   Show marketing remark (92 chars)

   Bungalow style features 3 bedrooms, 1 bathroom, basement and much more! Call LA for details.

6. 2012-07-30
   soldstatus $7,300

   Show marketing remark (92 chars)

   Bungalow style features 3 bedrooms, 1 bathroom, basement and much more! Call LA for details.

7. 2012-05-01
   historical 92-char remark

   Show marketing remark (92 chars)

   Bungalow style features 3 bedrooms, 1 bathroom, basement and much more! Call LA for details.

8. 2012-02-10
   listed $7,300 92-char remark

   Show marketing remark (92 chars)

   Bungalow style features 3 bedrooms, 1 bathroom, basement and much more! Call LA for details.

9. 2012-02-10
   listed $7,300

   Show marketing remark (92 chars)

   Bungalow style features 3 bedrooms, 1 bathroom, basement and much more! Call LA for details.

ⓘ 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: $1,559 · $130/mo
• Projected year-2 tax: $1,559 · $130/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: $18,349
• − Mortgage interest: −$5,596
• − Property taxes: −$1,559
• − Insurance: −$500
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$2,906
• Taxable income: $4,853
• Est. tax owed @ 24.0%: −$1,165
• After-tax cash flow: $4,986/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

+1268.5% since first listed

9 events — show timeline

• 2025-12-22 Pending — MiRealSource-MiMLS
• 2025-12-22 Pending — REALCOMP
• 2025-12-02 Listed $99,900 REALCOMP
• 2025-12-02 Listed $99,900 MiRealSource-MiMLS
• 2012-07-30 Sold (MLS) $7,300 REALCOMP
• 2012-07-30 Sold (MLS) $7,300 MiRealSource-MiMLS
• 2012-05-01 Listing Removed — MiRealSource-MiMLS
• 2012-02-10 Listed $7,300 REALCOMP
• 2012-02-10 Listed $7,300 MiRealSource-MiMLS

Property tax history

-5.1%/yr

Latest (2025): $1,559 · -9.5% YoY. Source: county tax records.