15463 Dexter Ave · Detroit, MI 48238

$75,000

3 bd · 1.0 ba · 1,474 sqft · SingleFamily public records · 66 Days on market

Built 2005 Fair condition 3,049 sqft lot $51/sqft · 21% below area Est $145k · 48% under

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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 +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Key facts

• 3,049 sq ft lot
• Garage
• Built 2005

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 10.1% 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 (+6.1%/yr); 348 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,299/mo this rent would consume 47% of the median local household income ($33k/yr) (locally 2172% 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 $519 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 + 6.1% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $28k; list at $75k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.73% ✓
• Cap rate: 12.67%
• Cash-on-cash: 22.77%
• DSCR: 2.01
• GRM: 4.8

CMA / ARV

• ARV (median comp): $144,729
• List price: $75,000
• Delta: -48.18%
• 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
16180 Wildemere St	0.46mi	3/1.5	1,454 (-1%)	2mo	$115,000	$79	72
16141 Wildemere St	0.41mi	3/1.5	1,448 (-2%)	5mo	$165,000	$114	72
16533 Parkside St	0.58mi	3/2.0	1,500 (+2%)	2mo	$205,000	$137	64
6433 Globe St	0.33mi	3/1.0	1,344 (-9%)	7mo	$100,000	$74	64
15580 Linwood St	0.49mi	3/1.0	1,546 (+5%)	6mo	$45,000	$29	64
15860 Tuller St	0.58mi	3/1.0	1,500 (+2%)	9mo	$52,000	$35	63
16143 Monica St	0.51mi	4/2.0 (+1)	1,500 (+2%)	2mo	$175,000	$117	62
16811 Stoepel St	0.70mi	3/2.0	1,500 (+2%)	5mo	$138,000	$92	56
15877 Baylis St	0.68mi	3/1.0	1,400 (-5%)	5mo	$71,000	$51	56
15828 Santa Rosa Dr	0.34mi	4/1.5 (+1)	1,600 (+8%)	8mo	$125,000	$78	56
15379 Woodingham Dr	0.68mi	4/1.0 (+1)	1,300 (-12%)	4mo	$7,000	$5	40
16651 Lawton St	0.71mi	4/1.5 (+1)	1,656 (+12%)	5mo	$90,000	$54	35

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.84×
• Total profit: $17,544
• Equity at exit: $11,183

10-year hold

• IRR: 30.2%
• Equity multiple: 4.18×
• Total profit: $66,830
• Equity at exit: $6,485

Cash invested: $21,000 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 348
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,299 high
• Mortgage (P&I): −$393
• Tax from tax record: −$203 /mo · $2,434/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $398

Break-even live

Break-even rent $794

Max offer price $75,000

Occupancy floor 64%

Sensitivity live

Price	-10% $441	-5% $420	+0% $398	+5% $377	+10% $356
Rent	-10% $296	-5% $347	+0% $398	+5% $450	+10% $501
Rate	-1.0pp $436	-0.5pp $418	base $398	+0.5pp $379	+1.0pp $359

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	0.32mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.40mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.41mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	0.56mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	0.56mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	18d	1	0.60mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.61mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	0.66mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	18d	1	0.67mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.80mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	6d	1	0.82mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.85mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	19d	1	0.88mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.90mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	25d	1	0.90mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	44d	1	0.92mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.92mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	0.94mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	0.94mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	6d	1	1.02mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	1.02mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.03mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.06mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.07mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	1.08mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.11mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.12mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	19d	1	1.13mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	44d	1	1.16mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	25d	1	1.16mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	1.17mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.18mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.19mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	6d	1	1.20mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	1.20mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	21d	1	1.22mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	25d	1	1.22mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	1.24mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	6d	1	1.26mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	1.28mi

Listing history 17 events

1. 2026-06-21
   days on market $75,000 Active 66 DOM
2. 2026-06-18
   days on market $75,000 Active 63 DOM
3. 2026-06-17
   days on market $75,000 Active 62 DOM
4. 2026-06-15
   days on market $75,000 Active 60 DOM
5. 2026-06-13
   days on market $75,000 Active 58 DOM
6. 2026-06-13
   days on market $75,000 Active 57 DOM
7. 2026-06-09
   days on market $75,000 Active 54 DOM
8. 2026-06-08
   days on market $75,000 Active 53 DOM
9. 2026-06-07
   days on market $75,000 Active 52 DOM
10. 2026-06-04
    days on market $75,000 Active 49 DOM
11. 2026-06-03
    days on market $75,000 Active 48 DOM
12. 2026-06-02
    days on market $75,000 Active 47 DOM
13. 2026-06-01
    days on market $75,000 Active 46 DOM
14. 2026-05-31
    days on market $75,000 Active 45 DOM
15. 2026-04-11
    listed $75,000 Active
16. 2026-04-11
    listed $75,000 Active
17. 2023-09-25
    soldstatus $28,250

ⓘ 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: $2,434 · $203/mo
• Projected year-2 tax: $2,434 · $203/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,583
• − Mortgage interest: −$4,201
• − Property taxes: −$2,434
• − Insurance: −$375
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$2,182
• Taxable income: $3,898
• Est. tax owed @ 24.0%: −$935
• After-tax cash flow: $3,846/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance to improve its curb appeal and interior condition, which would increase its resale and rental value.

Repairs flagged

• Moderate exterior siding — Visible weathering and discoloration
• Moderate exterior paint — Some discoloration
• Minor exterior landscaping — Some overgrown grass

Value-add opportunities

• Resale paint exterior — Fresh paint enhances curb appeal
• Resale trim exterior — Neat appearance attracts buyers
• Resale prune trees — Improved curb appeal and better light exposure
• Resale paint interior — Fresh paint in bedrooms and bathrooms enhances curb appeal
• Rental replace carpet — Carpet is dated and can be replaced with more modern flooring
• Resale replace bathroom fixtures — Modern fixtures improve the bathroom's appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Visible weathering and discoloration	Moderate	$3,000–15,000
exterior paint · Some discoloration	Moderate	$3,000–15,000
exterior landscaping · Some overgrown grass	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale paint exterior — Fresh paint enhances curb appeal ↑
• Resale trim exterior — Neat appearance attracts buyers ↑
• Resale prune trees — Improved curb appeal and better light exposure ↑
• Resale paint interior — Fresh paint in bedrooms and bathrooms enhances curb appeal ↑
• Rental replace carpet — Carpet is dated and can be replaced with more modern flooring ↑
• Resale replace bathroom fixtures — Modern fixtures improve the bathroom's appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+165.5% since first listed

3 events — show timeline

• 2026-04-11 Listed $75,000 MiRealSource-MiMLS
• 2026-04-11 Listed $75,000 REALCOMP
• 2023-09-25 Sold (Public Records) $28,250 Public Records

Property tax history

+47.1%/yr

Latest (2025): $2,434 · -14.0% YoY. Source: county tax records.