15480 Saratoga St · Detroit, MI 48205

$75,000

2 bd · 1.0 ba · 752 sqft · SingleFamily public records · 57 Days on market

Built 1940 3,485 sqft lot $100/sqft · 34% above area Est $56k · 34% over

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Terrific Value on This Affordable Brick Ranch! Don't miss this 2-bedroom all-brick ranch featuring a full basement, located on a beautifully maintained street in Detroit's desirable Mapleridge neighborhood. The home offers a spacious living room, two comfortable bedrooms, a full bath, and an eat-in kitchen with plenty of cabinetry, granite countertops, and a cozy breakfast nook. Enjoy low-maintenance living with newer vinyl windows and lower utility costs year-round. Located in Northeast Detroit, this area is popular with homeowners due to its proximity to neighboring suburbs, dining, shopping, and schools - including historic Denby High School. Call or text today for more information or to schedule your private showing!

Key facts

• Newer vinyl windows
• Proximity to dining
• Full basement

Tags

• FULL BASEMENT
• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• NEWER VINYL WINDOWS
• MAPLERIDGE NEIGHBORHOOD
• PROXIMITY TO DINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $377 ($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: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 (+1.3%/yr); 373 active listings in the ZIP; 38 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).
• This rent runs 36% of the median local income ($39k/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 $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 + 1.3% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask has dropped $9k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.56%
• DSCR: 1.96
• GRM: 5.3

CMA / ARV

• ARV (median comp): $55,922
• List price: $75,000
• Delta: 34.12%
• 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
15294 Saratoga St	0.11mi	3/1.0 (+1)	802 (+7%)	7mo	$65,000	$81	73
12505 Laing St	0.56mi	3/1.0 (+1)	752 (0%)	3mo	$54,600	$73	66
11974 Duchess St	0.65mi	2/1.0	724 (-4%)	5mo	$37,000	$51	59
18700 Mccormick St	0.57mi	2/1.0	706 (-6%)	5mo	$63,000	$89	59
18591 Kingsville St	0.60mi	2/1.0	824 (+10%)	1mo	$74,000	$90	55
12897 Riad St	0.49mi	3/1.0 (+1)	831 (+10%)	1mo	$63,000	$76	53
18547 Mccormick St	0.54mi	3/1.0 (+1)	689 (-8%)	7mo	$30,000	$44	50
16100 Liberal St	0.61mi	2/1.0	679 (-10%)	7mo	$15,900	$23	49
12641 Kelly Rd	0.65mi	2/1.0	840 (+12%)	4mo	$15,000	$18	46
18801 Washtenaw St	0.73mi	2/1.0	836 (+11%)	7mo	$32,555	$39	42
18933 Kingsville St	0.73mi	2/1.0	672 (-11%)	8mo	$72,000	$107	42
19401 Kelly Rd	0.67mi	3/1.0 (+1)	850 (+13%)	7mo	$38,000	$45	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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.47×
• Total profit: $9,963
• Equity at exit: $11,183

10-year hold

• IRR: 19.7%
• Equity multiple: 2.53×
• Total profit: $32,029
• 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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,183 high
• Mortgage (P&I): −$393
• Tax from tax record: −$133 /mo · $1,591/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $377

Break-even live

Break-even rent $705

Max offer price $75,000

Occupancy floor 63%

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 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.28mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.36mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.45mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.47mi
16241 Seven Mile E Unit 4 Detroit, MI	1.0	1.0	650	$650	$1.00	43d	1	0.48mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	43d	1	0.55mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.62mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.73mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.76mi
15030 Rossini Dr Unit 2 Detroit, MI	1.0	1.0	720	$800	$1.11	43d	1	0.77mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	0.79mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.79mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.80mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.83mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.90mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.96mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.98mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	1.01mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.01mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.07mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	14d	1	1.11mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	14d	1	1.13mi
14103 Rochelle Ave Unit 3 Detroit, MI	1.0	1.0	700	$800	$1.14	43d	1	1.17mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	1.17mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.21mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.24mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	1.28mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	1.28mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	1.29mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.30mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	4d	1	1.33mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	1.33mi
13503 E McNichols Rd Unit 7 Detroit, MI	1.0	1.0	750	$800	$1.07	17d	1	1.33mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	1.35mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	1.40mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	1.41mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.43mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.44mi

Listing history 42 events

1. 2026-06-18
   days on market $75,000 Active 57 DOM
2. 2026-06-17
   days on market $75,000 Active 56 DOM
3. 2026-06-15
   days on market $75,000 Active 54 DOM
4. 2026-06-13
   days on market $75,000 Active 52 DOM
5. 2026-06-13
   days on market $75,000 Active 51 DOM
6. 2026-06-09
   days on market $75,000 Active 48 DOM
7. 2026-06-08
   days on market $75,000 Active 47 DOM
8. 2026-06-07
   pricedays on market $75,000 Active 46 DOM
9. 2026-06-04
   days on market $84,000 Active 43 DOM
10. 2026-06-03
    days on market $84,000 Active 42 DOM
11. 2026-06-02
    days on market $84,000 Active 41 DOM
12. 2026-06-01
    days on market $84,000 Active 40 DOM
13. 2026-05-31
    days on market $84,000 Active 39 DOM
14. 2026-04-22
    listed $84,000 Active 730-char remark

    Show marketing remark (746 chars)

    Terrific Value on This Affordable Brick Ranch! Don’t miss this 2-bedroom all-brick ranch featuring a full basement, located on a beautifully maintained street in Detroit’s desirable Mapleridge neighborhood. The home offers a spacious living room, two comfortable bedrooms, a full bath, and an eat-in kitchen with plenty of cabinetry, granite countertops, and a cozy breakfast nook. Enjoy low-maintenance living with newer vinyl windows and lower utility costs year-round. Located in Northeast Detroit, this area is popular with homeowners due to its proximity to neighboring suburbs, dining, shopping, and schools—including historic Denby High School. Call or text today for more information or to schedule your private showing!

15. 2026-04-22
    listed $84,000 Active 746-char remark

    Show marketing remark (746 chars)

    Terrific Value on This Affordable Brick Ranch! Don’t miss this 2-bedroom all-brick ranch featuring a full basement, located on a beautifully maintained street in Detroit’s desirable Mapleridge neighborhood. The home offers a spacious living room, two comfortable bedrooms, a full bath, and an eat-in kitchen with plenty of cabinetry, granite countertops, and a cozy breakfast nook. Enjoy low-maintenance living with newer vinyl windows and lower utility costs year-round. Located in Northeast Detroit, this area is popular with homeowners due to its proximity to neighboring suburbs, dining, shopping, and schools—including historic Denby High School. Call or text today for more information or to schedule your private showing!

16. 2025-12-23
    historical
17. 2025-12-23
    historical
18. 2025-05-19
    listed $84,000 Active
19. 2025-05-19
    listed $84,000 Active
20. 2025-05-07
    historical
21. 2025-05-07
    historical
22. 2024-12-06
    listed $84,000 Active
23. 2024-12-06
    listed $84,000 Active
24. 2024-12-05
    historical
25. 2024-12-05
    historical
26. 2024-12-05
    historical
27. 2024-12-05
    historical
28. 2024-10-09
    price $85,000
29. 2024-10-08
    price $85,000
30. 2024-10-08
    price $87,000
31. 2024-08-22
    price $95,000
32. 2024-08-21
    price $95,000
33. 2024-06-12
    listed $105,000 Active
34. 2024-06-12
    listed $105,000 Active
35. 2021-12-08
    historical
36. 2021-12-07
    historical
37. 2021-10-15
    status Pending
38. 2021-10-12
    historical
39. 2021-06-21
    soldstatus $66,900
40. 2021-05-26
    historical
41. 2021-04-23
    listed $60,000
42. 2021-04-23
    listed $60,000

ⓘ 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: $1,591 · $133/mo
• Projected year-2 tax: $1,591 · $133/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $14,194
• − Mortgage interest: −$4,201
• − Property taxes: −$1,591
• − Insurance: −$375
• − Repairs & maintenance: −$1,136
• − Management: −$1,136
• − Depreciation: −$2,182
• Taxable income: $3,574
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $3,670/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+40.0% since first listed

29 events — show timeline

• 2026-04-22 Listed $84,000 REALCOMP
• 2026-04-22 Listed $84,000 MiRealSource-MiMLS
• 2025-12-23 Listing Removed — MiRealSource-MiMLS
• 2025-12-23 Listing Removed — REALCOMP
• 2025-05-19 Listed $84,000 REALCOMP
• 2025-05-19 Listed $84,000 MiRealSource-MiMLS
• 2025-05-07 Listing Removed — REALCOMP
• 2025-05-07 Listing Removed — MiRealSource-MiMLS
• 2024-12-06 Listed $84,000 MiRealSource-MiMLS
• 2024-12-06 Listed $84,000 REALCOMP
• 2024-12-05 Coming Soon — MiRealSource-MiMLS
• 2024-12-05 Coming Soon — REALCOMP
• 2024-12-05 Listing Removed — MiRealSource-MiMLS
• 2024-12-05 Listing Removed — REALCOMP
• 2024-10-09 Price Changed $85,000 MiRealSource-MiMLS
• 2024-10-08 Price Changed $85,000 REALCOMP
• 2024-10-08 Price Changed $87,000 REALCOMP
• 2024-08-22 Price Changed $95,000 MiRealSource-MiMLS
• 2024-08-21 Price Changed $95,000 REALCOMP
• 2024-06-12 Listed $105,000 MiRealSource-MiMLS
• 2024-06-12 Listed $105,000 REALCOMP
• 2021-12-08 Listing Removed — MiRealSource-MiMLS
• 2021-12-07 Listing Removed — REALCOMP
• 2021-10-15 Pending — REALCOMP
• 2021-10-12 Listing Removed — REALCOMP
• 2021-06-21 Sold (Public Records) $66,900 Public Records
• 2021-05-26 Listing Removed — REALCOMP
• 2021-04-23 Listed $60,000 MiRealSource-MiMLS
• 2021-04-23 Listed $60,000 REALCOMP

Property tax history

+3.0%/yr

Latest (2025): $1,591 · -54.1% YoY. Source: county tax records.