15870 Lesure St · Detroit, MI 48227

$118,000

3 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 102 Days on market

Built 1939 3,920 sqft lot $106/sqft · 76% above area

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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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +6.0/10.0
• 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

Welcome home!!! This beautiful and unique brick home is ready to move-in, ideal for first time home buyers or investors looking to expand their portfolio; the entire house has been freshly painted. Conveniently located with easy access from Schaefer Hwy and Puritan Ave, Harmony Village. This house offers a spacious layout, a primary bedroom upstairs with a loft that can be used as a walk-in closet, all covered in wood. Kitchen and bathroom with a ceramic floor. The basement features freshly painted walls and durable epoxy flooring. Spacious backyard that can be fenced for added privacy. Schedule your showing today!! All measurements are estimated.

Key facts

• 3,920 sq ft lot
• Built 1939
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $107k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Coleman A Young Elementary School (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 416 students, 93% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 43% 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 $816 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.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($107k) 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 $78k; list at $118k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,380 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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: 1.10% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 7.6

CMA / ARV

• ARV (median comp): $66,910
• List price: $118,000
• Delta: 76.36%
• 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
15770 Stansbury St	0.12mi	3/1.0	1,100 (-1%)	1mo	$50,000	$45	91
15775 Hartwell St	0.18mi	3/1.0	1,123 (+1%)	3mo	$88,000	$78	88
15824 Snowden St	0.22mi	3/1.0	1,127 (+1%)	1mo	$61,000	$54	87
15824 Snowden St	0.22mi	3/1.0	1,127 (+1%)	1mo	$61,000	$54	87
16180 Snowden St	0.25mi	3/1.0	1,137 (+2%)	0mo	$61,000	$54	85
16183 Freeland Street St	0.28mi	3/1.0	1,224 (+10%)	3mo	$150,000	$123	68
15430 Mark Twain St	0.40mi	3/1.0	1,026 (-8%)	1mo	$95,000	$93	67
16176 Tracey St	0.14mi	3/2.0	1,270 (+14%)	1mo	$70,000	$55	66
16562 Tracey St	0.28mi	3/1.0	1,244 (+12%)	2mo	$60,000	$48	66
16174 Lauder St	0.53mi	3/2.0	1,084 (-3%)	3mo	$102,900	$95	64
16863 Tracey St	0.47mi	3/2.0	1,200 (+8%)	2mo	$165,000	$138	60
15041 Lesure St	0.57mi	3/1.0	1,021 (-8%)	2mo	$50,000	$49	58

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: -4.6%
• Equity multiple: 0.82×
• Total profit: $-5,842
• Equity at exit: $17,594

10-year hold

• IRR: 8.0%
• Equity multiple: 1.69×
• Total profit: $22,715
• Equity at exit: $10,202

Cash invested: $33,040 (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: 392
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,298 high
• Mortgage (P&I): −$619
• Tax from tax record: −$205 /mo · $2,455/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $153

Break-even live

Break-even rent $1,105

Max offer price $118,000

Occupancy floor 83%

Sensitivity live

Price	-10% $220	-5% $187	+0% $153	+5% $120	+10% $86
Rent	-10% $51	-5% $102	+0% $153	+5% $204	+10% $256
Rate	-1.0pp $213	-0.5pp $183	base $153	+0.5pp $123	+1.0pp $91

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.22mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	26d	1	0.24mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.32mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	14d	1	0.38mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	0.39mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	18d	1	0.46mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	45d	1	0.47mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	45d	1	0.50mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	23d	1	0.60mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	26d	1	0.60mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.63mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	45d	1	0.66mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	18d	1	0.67mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	0.71mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	18d	1	0.71mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	45d	1	0.72mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	45d	1	0.73mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	45d	1	0.77mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	19d	1	0.79mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	14d	1	0.79mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	26d	1	0.79mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	26d	1	0.79mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	19d	1	0.82mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	6d	1	0.84mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	45d	1	0.84mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	45d	2	0.90mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	6d	1	0.90mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	0.91mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,500	$1.49	0d	1	0.91mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	45d	1	0.95mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	0.95mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	22d	1	0.99mi
15765 Washburn St Unit 15767 Washburn Upper Detroit, MI	2.0	1.0	1093	$950	$0.87	0d	1	1.03mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	26d	1	1.06mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	1.07mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	19d	1	1.10mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	45d	1	1.10mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	19d	1	1.12mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	18d	1	1.12mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	16d	1	1.14mi

Listing history 17 events

1. 2026-06-21
   days on market $118,000 Active 102 DOM
2. 2026-06-18
   days on market $118,000 Active 99 DOM
3. 2026-06-17
   days on market $118,000 Active 98 DOM
4. 2026-06-15
   days on market $118,000 Active 96 DOM
5. 2026-06-13
   days on market $118,000 Active 94 DOM
6. 2026-06-13
   days on market $118,000 Active 93 DOM
7. 2026-06-09
   days on market $118,000 Active 90 DOM
8. 2026-06-08
   days on market $118,000 Active 89 DOM
9. 2026-06-07
   days on market $118,000 Active 88 DOM
10. 2026-06-04
    days on market $118,000 Active 85 DOM
11. 2026-06-03
    days on market $118,000 Active 84 DOM
12. 2026-06-01
    days on market $118,000 Active 82 DOM
13. 2026-05-31
    days on market $118,000 Active 81 DOM
14. 2026-03-12
    listed $118,000 Active 655-char remark

    Show marketing remark (655 chars)

    Welcome home!!! This beautiful and unique brick home is ready to move-in, ideal for first time home buyers or investors looking to expand their portfolio; the entire house has been freshly painted. Conveniently located with easy access from Schaefer Hwy and Puritan Ave, Harmony Village. This house offers a spacious layout, a primary bedroom upstairs with a loft that can be used as a walk-in closet, all covered in wood. Kitchen and bathroom with a ceramic floor. The basement features freshly painted walls and durable epoxy flooring. Spacious backyard that can be fenced for added privacy. Schedule your showing today!! All measurements are estimated.

15. 2026-03-12
    listed $118,000 Active 655-char remark

    Show marketing remark (655 chars)

    Welcome home!!! This beautiful and unique brick home is ready to move-in, ideal for first time home buyers or investors looking to expand their portfolio; the entire house has been freshly painted. Conveniently located with easy access from Schaefer Hwy and Puritan Ave, Harmony Village. This house offers a spacious layout, a primary bedroom upstairs with a loft that can be used as a walk-in closet, all covered in wood. Kitchen and bathroom with a ceramic floor. The basement features freshly painted walls and durable epoxy flooring. Spacious backyard that can be fenced for added privacy. Schedule your showing today!! All measurements are estimated.

16. 2026-03-11
    historical $118,000 655-char remark

    Show marketing remark (655 chars)

    Welcome home!!! This beautiful and unique brick home is ready to move-in, ideal for first time home buyers or investors looking to expand their portfolio; the entire house has been freshly painted. Conveniently located with easy access from Schaefer Hwy and Puritan Ave, Harmony Village. This house offers a spacious layout, a primary bedroom upstairs with a loft that can be used as a walk-in closet, all covered in wood. Kitchen and bathroom with a ceramic floor. The basement features freshly painted walls and durable epoxy flooring. Spacious backyard that can be fenced for added privacy. Schedule your showing today!! All measurements are estimated.

17. 2023-01-23
    soldstatus $78,500

ⓘ 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: $2,455 · $205/mo
• Projected year-2 tax: $2,455 · $205/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,580
• − Mortgage interest: −$6,610
• − Property taxes: −$2,455
• − Insurance: −$590
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$3,433
• Taxable loss: −$0
• Est. tax savings @ 24.0%: +$0
• After-tax cash flow: $1,838/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

+50.3% since first listed

4 events — show timeline

• 2026-03-12 Listed $118,000 MiRealSource-MiMLS
• 2026-03-12 Listed $118,000 REALCOMP
• 2026-03-11 Coming Soon $118,000 MiRealSource-MiMLS
• 2023-01-23 Sold (Public Records) $78,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,455 · -10.4% YoY. Source: county tax records.