15514 Griggs St · Detroit, MI 48238

$120,000

3 bd · 1.5 ba · 1,564 sqft · SingleFamily public records · 58 Days on market

Built 1938 3,920 sqft lot $77/sqft · 53% above area Est $118k · at est.

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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 +24.6/30.0
• DSCR +7.9/10.0
• ARV discount +6.9/15.0
• 1% rule +5.8/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come and see what you'll soon call your new home!. Located just steps from the M10 in a peaceful street, This house features 1565 sqft of living space and sits on a 3789 sqft lot. This house has three spacious bedrooms, 1.5 bathrooms, a living room, and a dining room, all with hardwood floors on the main level. It also includes a partially finished basement, a two-car garage, and a backyard. Schedule you showing soon, as this house won't be for long. If you're an investor looking for a great opportunity?, this property already has a tenant who has been living there for over four years, paying rent on time, and wishes to continue renting. Don't miss out on this great opportunity! B. A. T. V. A. I.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1938

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

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); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1,292/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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 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 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1938 — 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: 1.08% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.85%
• DSCR: 1.39
• GRM: 7.7

CMA / ARV

• ARV (median comp): $118,426
• List price: $120,000
• Delta: 1.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16204 Wisconsin St	0.49mi	3/1.5	1,536 (-2%)	1mo	$163,000	$106	73
15087 Pinehurst St	0.36mi	3/1.0	1,497 (-4%)	4mo	$55,000	$37	71
15841 Steel St	0.50mi	3/1.0	1,460 (-7%)	1mo	$50,000	$34	63
16811 Manor St	0.68mi	3/1.5	1,516 (-3%)	1mo	$71,000	$47	62
16500 Griggs St	0.44mi	3/1.5	1,427 (-9%)	4mo	$130,000	$91	62
16161 Roselawn St	0.63mi	3/1.5	1,666 (+6%)	1mo	$169,000	$101	59
15788 Littlefield St	0.67mi	3/1.0	1,608 (+3%)	4mo	$95,000	$59	58
16627 Appoline St	0.70mi	4/1.5 (+1)	1,544 (-1%)	4mo	$64,000	$41	57
16224 Washburn St	0.40mi	3/1.5	1,790 (+14%)	1mo	$174,999	$98	56
14942 Ward Ave	0.69mi	4/2.0 (+1)	1,619 (+4%)	4mo	$75,000	$46	52
16516 Appoline St	0.60mi	3/1.0	1,350 (-14%)	1mo	$39,500	$29	46
14889 Manor St	0.56mi	4/2.5 (+1)	1,375 (-12%)	0mo	$159,000	$116	45

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $540
• Equity at exit: $17,892

10-year hold

• IRR: 12.9%
• Equity multiple: 2.17×
• Total profit: $39,166
• Equity at exit: $10,375

Cash invested: $33,600 (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: 346
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$629
• Tax from tax record: −$93 /mo · $1,119/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $248

Break-even live

Break-even rent $978

Max offer price $120,000

Occupancy floor 76%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.05mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	0.12mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	43d	1	0.23mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	17d	1	0.42mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	43d	1	0.44mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	43d	1	0.46mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.48mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	0.53mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	43d	1	0.58mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	0.68mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	43d	1	0.72mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	0.72mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	0.72mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	43d	1	0.84mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	0.91mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.95mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.96mi
17195 Northlawn St #2 Detroit, MI	2.0	1.0	1200	$1,050	$0.88	24d	1	0.98mi
17195 Northlawn St #1 Detroit, MI	2.0	1.0	1200	$1,100	$0.92	20d	1	0.98mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	1.01mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	43d	1	1.02mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	43d	1	1.06mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	1.10mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	43d	1	1.10mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	17d	1	1.16mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	1.17mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	43d	1	1.18mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	24d	1	1.18mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	20d	1	1.21mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	1.21mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	43d	1	1.22mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	43d	1	1.22mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	17d	1	1.24mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	1.24mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	1.28mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	1.28mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	1.30mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	1.38mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	1.42mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $120,000 Active 58 DOM
2. 2026-06-17
   days on market $120,000 Active 57 DOM
3. 2026-06-15
   days on market $120,000 Active 55 DOM
4. 2026-06-13
   days on market $120,000 Active 53 DOM
5. 2026-06-13
   days on market $120,000 Active 52 DOM
6. 2026-06-09
   days on market $120,000 Active 49 DOM
7. 2026-06-08
   days on market $120,000 Active 48 DOM
8. 2026-06-07
   days on market $120,000 Active 47 DOM
9. 2026-06-04
   days on market $120,000 Active 44 DOM
10. 2026-06-03
    days on market $120,000 Active 43 DOM
11. 2026-06-02
    days on market $120,000 Active 42 DOM
12. 2026-06-01
    days on market $120,000 Active 41 DOM
13. 2026-05-31
    days on market $120,000 Active 40 DOM
14. 2026-04-21
    listed $120,000 Active 705-char remark

    Show marketing remark (705 chars)

    Come and see what you'll soon call your new home!. Located just steps from the M10 in a peaceful street, This house features 1565 sqft of living space and sits on a 3789 sqft lot. This house has three spacious bedrooms, 1.5 bathrooms, a living room, and a dining room, all with hardwood floors on the main level. It also includes a partially finished basement, a two-car garage, and a backyard. Schedule you showing soon, as this house won't be for long. If you're an investor looking for a great opportunity?, this property already has a tenant who has been living there for over four years, paying rent on time, and wishes to continue renting. Don't miss out on this great opportunity! B. A. T. V. A. I.

15. 2026-04-21
    listed $120,000 Active 705-char remark

    Show marketing remark (705 chars)

    Come and see what you'll soon call your new home!. Located just steps from the M10 in a peaceful street, This house features 1565 sqft of living space and sits on a 3789 sqft lot. This house has three spacious bedrooms, 1.5 bathrooms, a living room, and a dining room, all with hardwood floors on the main level. It also includes a partially finished basement, a two-car garage, and a backyard. Schedule you showing soon, as this house won't be for long. If you're an investor looking for a great opportunity?, this property already has a tenant who has been living there for over four years, paying rent on time, and wishes to continue renting. Don't miss out on this great opportunity! B. A. T. V. A. I.

16. 2026-03-04
    historical
17. 2026-03-04
    historical
18. 2025-12-22
    listed $120,000 Active
19. 2025-12-22
    listed $120,000 Active
20. 2025-12-19
    historical

ⓘ 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: $1,119 · $93/mo
• Projected year-2 tax: $1,484 · $124/mo
• Expected delta: +$364/yr (+$30/mo · 32.6%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,501
• − Mortgage interest: −$6,722
• − Property taxes: −$1,119
• − Insurance: −$600
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − Depreciation: −$3,491
• Taxable income: $1,089
• Est. tax owed @ 24.0%: −$261
• After-tax cash flow: $2,714/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): 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

+0.0% since first listed

7 events — show timeline

• 2026-04-21 Listed $120,000 REALCOMP
• 2026-04-21 Listed $120,000 MiRealSource-MiMLS
• 2026-03-04 Listing Removed — REALCOMP
• 2026-03-04 Listing Removed — MiRealSource-MiMLS
• 2025-12-22 Listed $120,000 MiRealSource-MiMLS
• 2025-12-22 Listed $120,000 REALCOMP
• 2025-12-19 Coming Soon — MiRealSource-MiMLS

Property tax history

-0.3%/yr

Latest (2025): $1,119 · -55.2% YoY. Source: county tax records.