15762 Strathmoor St · Detroit, MI 48227

$60,000

3 bd · 1.0 ba · 732 sqft · SingleFamily public records · 28 Days on market

Built 1949 3,920 sqft lot $82/sqft · 49% above area Est $58k · at est.

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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 +6.1/15.0
• 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

Charming 3 bedroom bungalow with timeless character and solid bones. Features include original hardwood floors throughout much of the main level, spacious living areas, and a functional layout with plenty of natural light. Full basement offers excellent storage and additional usable space. Great opportunity for an owner-occupant or investor looking to add value with cosmetic updates. Conveniently located near shopping, dining, schools, and major roadways. Priced to sell and full of potential. Clear title with warranty deed and title insurance. Buyer to verify all information, taxes, room sizes, etc. Buyer to pay 495 compliance to list office.

Key facts

• Natural light
• Full basement
• 3,920 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• FULL BASEMENT
• NATURAL LIGHT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 111)

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent runs 37% 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 $415 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — 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: 1.88% ✓
• Cap rate: 15.86%
• Cash-on-cash: 34.16%
• DSCR: 2.52
• GRM: 4.4

CMA / ARV

• ARV (median comp): $58,191
• List price: $60,000
• Delta: 3.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15500 Strathmoor St	0.12mi	2/1.0 (-1)	755 (+3%)	11mo	$60,000	$79	75
15746 Coyle St	0.31mi	3/1.0	814 (+11%)	5mo	$41,500	$51	63
15808 Coyle St	0.32mi	3/1.0	811 (+11%)	8mo	$70,000	$86	61
16811 Cruse St	0.56mi	3/1.0	790 (+8%)	1mo	$53,500	$68	60
14814 Lesure St	0.74mi	2/1.0 (-1)	761 (+4%)	1mo	$43,000	$57	53
16629 Hubbell St	0.46mi	2/1.0 (-1)	804 (+10%)	10mo	$85,000	$106	49
16621 Ardmore St	0.47mi	2/1.0 (-1)	825 (+13%)	5mo	$55,000	$67	48
16881 Hubbell St	0.60mi	2/1.0 (-1)	804 (+10%)	22mo	$101,000	$126	32

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: 32.5%
• Equity multiple: 2.42×
• Total profit: $23,774
• Equity at exit: $8,946

10-year hold

• IRR: 40.9%
• Equity multiple: 5.35×
• Total profit: $73,066
• Equity at exit: $5,188

Cash invested: $16,800 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $478

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 53%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	44d	1	0.58mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.77mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	1.26mi

Listing history 16 events

1. 2026-06-10
   status $60,000 Pending 28 DOM
2. 2026-06-09
   days on market $60,000 Active 28 DOM

   Show marketing remark (650 chars)

   Charming 3 bedroom bungalow with timeless character and solid bones. Features include original hardwood floors throughout much of the main level, spacious living areas, and a functional layout with plenty of natural light. Full basement offers excellent storage and additional usable space. Great opportunity for an owner-occupant or investor looking to add value with cosmetic updates. Conveniently located near shopping, dining, schools, and major roadways. Priced to sell and full of potential. Clear title with warranty deed and title insurance. Buyer to verify all information, taxes, room sizes, etc. Buyer to pay 495 compliance to list office.

3. 2026-06-08
   days on market $60,000 Active 27 DOM
4. 2026-06-07
   days on market $60,000 Active 26 DOM
5. 2026-06-04
   days on market $60,000 Active 23 DOM
6. 2026-06-03
   days on market $60,000 Active 22 DOM
7. 2026-06-02
   days on market $60,000 Active 21 DOM
8. 2026-06-01
   days on market $60,000 Active 20 DOM
9. 2026-05-31
   days on market $60,000 Active 19 DOM
10. 2026-05-13
    listed $60,000 Active 650-char remark

    Show marketing remark (650 chars)

    Charming 3 bedroom bungalow with timeless character and solid bones. Features include original hardwood floors throughout much of the main level, spacious living areas, and a functional layout with plenty of natural light. Full basement offers excellent storage and additional usable space. Great opportunity for an owner-occupant or investor looking to add value with cosmetic updates. Conveniently located near shopping, dining, schools, and major roadways. Priced to sell and full of potential. Clear title with warranty deed and title insurance. Buyer to verify all information, taxes, room sizes, etc. Buyer to pay 495 compliance to list office.

11. 2026-05-13
    listed $60,000 Active 650-char remark

    Show marketing remark (650 chars)

    Charming 3 bedroom bungalow with timeless character and solid bones. Features include original hardwood floors throughout much of the main level, spacious living areas, and a functional layout with plenty of natural light. Full basement offers excellent storage and additional usable space. Great opportunity for an owner-occupant or investor looking to add value with cosmetic updates. Conveniently located near shopping, dining, schools, and major roadways. Priced to sell and full of potential. Clear title with warranty deed and title insurance. Buyer to verify all information, taxes, room sizes, etc. Buyer to pay 495 compliance to list office.

12. 2024-07-18
    soldstatus $1,232,000
13. 2007-06-20
    soldstatus $14,000

    Show marketing remark (152 chars)

    THREE BEDROOMS ALUMINUM SIDED BUNGALOW WITH LARGE LIVING ROOM, DINING AREA AND FULL BASEMENT. HARDWOOD FLOORS, GOOD SIZE KITCHEN AND UPDATED ELECTRICAL.

14. 2007-05-15
    listed $21,900

    Show marketing remark (152 chars)

    THREE BEDROOMS ALUMINUM SIDED BUNGALOW WITH LARGE LIVING ROOM, DINING AREA AND FULL BASEMENT. HARDWOOD FLOORS, GOOD SIZE KITCHEN AND UPDATED ELECTRICAL.

15. 2005-07-11
    soldstatus $75,000
16. 1997-07-15
    soldstatus $10,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 14 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: $13,563
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$1,745
• Taxable income: $5,086
• Est. tax owed @ 24.0%: −$1,221
• After-tax cash flow: $4,518/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

+471.4% since first listed

9 events — show timeline

• 2026-06-09 Pending — MiRealSource-MiMLS
• 2026-06-09 Pending — REALCOMP
• 2026-05-13 Listed $60,000 MiRealSource-MiMLS
• 2026-05-13 Listed $60,000 REALCOMP
• 2024-07-18 Sold (Public Records) $1,232,000 Public Records
• 2007-06-20 Sold (MLS) $14,000 REALCOMP
• 2007-05-15 Listed $21,900 REALCOMP
• 2005-07-11 Sold (Public Records) $75,000 Public Records
• 1997-07-15 Sold (Public Records) $10,500 Public Records

Property tax history

+19.7%/yr

Latest (2025): $3,482 · +78.8% YoY. Source: county tax records.