15887 Lauder St · Detroit, MI 48227

$67,500

3 bd · 1.0 ba · 1,450 sqft · SingleFamily public records · 213 Days on market

Built 1929 4,356 sqft lot $47/sqft · 30% below area Est $97k · 30% under ↓ 6% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

Key facts

• Nearby retail
• Basement
• Stable neighborhood

Tags

• STABLE NEIGHBORHOOD
• NEARBY SCHOOLS
• NEARBY PARKS
• NEARBY RETAIL
• BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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 fast (+5.6%/yr); 385 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).
• At $1,419/mo this rent would consume 47% 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 $467 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 + 5.6% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 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 1929 — 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: 2.10% ✓
• Cap rate: 17.12%
• Cash-on-cash: 38.69%
• DSCR: 2.72
• GRM: 4.0

CMA / ARV

• ARV (median comp): $96,985
• List price: $67,500
• Delta: -30.40%
• 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
15763 Robson St	0.14mi	2/1.5 (-1)	1,485 (+2%)	3mo	$58,500	$39	80
15868 Whitcomb St	0.22mi	3/1.0	1,332 (-8%)	2mo	$95,000	$71	74
16546 Sussex St St	0.29mi	3/2.0	1,400 (-3%)	4mo	$203,000	$145	73
15530 Winthrop St	0.47mi	3/1.0	1,573 (+8%)	3mo	$60,000	$38	61
15501 Whitcomb St	0.35mi	4/1.5 (+1)	1,609 (+11%)	1mo	$90,000	$56	57
15748 Freeland St	0.36mi	3/1.0	1,243 (-14%)	4mo	$78,000	$63	56
15328 Prest St E	0.51mi	3/1.5	1,298 (-10%)	3mo	$66,999	$52	54
15771 Rutherford St	0.66mi	3/1.0	1,289 (-11%)	1mo	$55,106	$43	50
16176 Tracey St	0.61mi	3/2.0	1,270 (-12%)	0mo	$70,000	$55	46
15482 Rutherford St	0.67mi	3/1.0	1,653 (+14%)	0mo	$65,000	$39	45
15727 Mansfield St	0.73mi	3/1.5	1,300 (-10%)	3mo	$55,000	$42	44
16562 Tracey St	0.65mi	3/1.0	1,244 (-14%)	2mo	$60,000	$48	44

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: 37.9%
• Equity multiple: 2.68×
• Total profit: $31,710
• Equity at exit: $10,064

10-year hold

• IRR: 45.8%
• Equity multiple: 5.98×
• Total profit: $94,192
• Equity at exit: $5,836

Cash invested: $18,900 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$354
• Tax from tax record: −$129 /mo · $1,552/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $609

Break-even live

Break-even rent $647

Max offer price $67,500

Occupancy floor 52%

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.05mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.14mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	43d	1	0.28mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	0.29mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	0.38mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	17d	1	0.40mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	0.40mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	0.40mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	0.40mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	43d	1	0.53mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	10d	1	0.53mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.56mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.62mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.63mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	16d	1	0.67mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	0.68mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.75mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.76mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	16d	1	0.81mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.82mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	0.86mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	1d	1	0.86mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	0.88mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	0.89mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	0.90mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	43d	1	0.90mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	0.91mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	43d	1	0.92mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	0.92mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	0.95mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	43d	1	0.96mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	21d	1	0.96mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.96mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	16d	1	1.00mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	20d	1	1.00mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	1.01mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	2d	1	1.01mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	43d	1	1.06mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	12d	1	1.08mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	1.08mi

Listing history 19 events

1. 2026-06-18
   days on market $67,500 Active 213 DOM
2. 2026-06-17
   days on market $67,500 Active 212 DOM
3. 2026-06-15
   days on market $67,500 Active 210 DOM
4. 2026-06-13
   days on market $67,500 Active 208 DOM
5. 2026-06-13
   days on market $67,500 Active 207 DOM
6. 2026-06-09
   days on market $67,500 Active 204 DOM
7. 2026-06-08
   days on market $67,500 Active 203 DOM
8. 2026-06-07
   days on market $67,500 Active 202 DOM
9. 2026-06-04
   days on market $67,500 Active 199 DOM
10. 2026-06-03
    days on market $67,500 Active 198 DOM
11. 2026-06-01
    days on market $67,500 Active 196 DOM
12. 2026-05-31
    days on market $67,500 Active 195 DOM
13. 2026-05-05
    price $67,500 179-char remark

    Show marketing remark (179 chars)

    Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

14. 2026-05-04
    price $67,500 179-char remark

    Show marketing remark (179 chars)

    Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

15. 2026-05-04
    price $67,500

    Show marketing remark (179 chars)

    Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

16. 2025-11-17
    listed $70,000 Active 179-char remark

    Show marketing remark (179 chars)

    Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

17. 2025-11-17
    listed $70,000 Active 179-char remark

    Show marketing remark (179 chars)

    Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

18. 2025-11-17
    listed $70,000 Active

    Show marketing remark (179 chars)

    Solid brick 3-bed, 1-bath home in a stable Detroit neighborhood near Puritan and Greenfield. Property offers 1,450 sqft with a basement. Nearby schools, parks, and retail. BATVAI.

19. 2022-11-10
    soldstatus $72,000

ⓘ 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: $1,552 · $129/mo
• Projected year-2 tax: $1,552 · $129/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: $17,024
• − Mortgage interest: −$3,781
• − Property taxes: −$1,552
• − Insurance: −$338
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$1,964
• Taxable income: $6,666
• Est. tax owed @ 24.0%: −$1,600
• After-tax cash flow: $5,712/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

-6.2% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $67,500 MiRealSource-MiMLS
• 2026-05-04 Price Changed $67,500 REALCOMP
• 2026-05-04 Price Changed $67,500 SW Michigan MLS
• 2025-11-17 Listed $70,000 REALCOMP
• 2025-11-17 Listed $70,000 SW Michigan MLS
• 2025-11-17 Listed $70,000 MiRealSource-MiMLS
• 2022-11-10 Sold (Public Records) $72,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,552 · -54.1% YoY. Source: county tax records.