15871 Tracey St · Detroit, MI 48227

$80,000

4 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 3 Days on market

Built 1940 3,920 sqft lot Est $59k · 35% 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
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• 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

Great addition to your portfolio with a long-term renter that brings in $1000 monthly. Please do not approach the house!! More photos to come soon.

Key facts

• 3,920 sq ft lot
• Built 1940
• Listed 2 days

Property features AI

Finance

• Other: Residential property in the Puritan University subdivision
• Financial info: No investment or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No garage
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot roughly 35 x 112 (0.09 acres)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Unfinished basement
• Laundry & utility: No specific laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 15.3% vs local median 10.1% 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); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,458/mo this rent would consume 48% of the median local household income ($37k/yr) (locally 2371% 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 $553 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y ago; this cycle's ask is 99900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $80,000

Questions for the listing agent

1. Built in 1940 — 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: 1.82% ✓
• Cap rate: 15.28%
• Cash-on-cash: 32.09%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $59,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15770 Stansbury St	0.13mi	3/1.0 (-1)	1,100 (0%)	1mo	$50,000	$45	88
15775 Hartwell St	0.16mi	3/1.0 (-1)	1,123 (+2%)	3mo	$88,000	$78	82
15824 Snowden St	0.19mi	3/1.0 (-1)	1,127 (+2%)	0mo	$61,000	$54	81
15824 Snowden St	0.19mi	3/1.0 (-1)	1,127 (+2%)	0mo	$61,000	$54	81
16180 Snowden St	0.23mi	3/1.0 (-1)	1,137 (+3%)	0mo	$61,000	$54	78
16246 Snowden St	0.27mi	3/1.5 (-1)	1,153 (+5%)	3mo	$58,500	$51	70
15430 Mark Twain St	0.42mi	3/1.0 (-1)	1,026 (-7%)	1mo	$95,000	$93	64
16174 Lauder St	0.56mi	3/2.0 (-1)	1,084 (-2%)	3mo	$102,900	$95	60
16183 Freeland Street St	0.30mi	3/1.0 (-1)	1,224 (+11%)	3mo	$150,000	$123	60
16562 Tracey St	0.29mi	3/1.0 (-1)	1,244 (+13%)	2mo	$60,000	$48	58
15041 Lesure St	0.56mi	3/1.0 (-1)	1,021 (-7%)	2mo	$50,000	$49	55
16863 Tracey St	0.48mi	3/2.0 (-1)	1,200 (+9%)	2mo	$165,000	$138	52

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: 30.0%
• Equity multiple: 2.30×
• Total profit: $29,111
• Equity at exit: $11,928

10-year hold

• IRR: 38.7%
• Equity multiple: 5.08×
• Total profit: $91,436
• Equity at exit: $6,917

Cash invested: $22,400 (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: 391
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,458 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $599

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 54%

Sensitivity live

Price	-10% $654	-5% $627	+0% $599	+5% $571	+10% $544
Rent	-10% $484	-5% $541	+0% $599	+5% $657	+10% $714
Rate	-1.0pp $639	-0.5pp $619	base $599	+0.5pp $578	+1.0pp $557

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: $20,000
• Closing costs: $2,400
• 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
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	0.32mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	0.38mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	0.47mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.50mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	25d	1	0.60mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.63mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	0.71mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.71mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.73mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	19d	1	0.79mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	25d	1	0.79mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	13d	1	0.79mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	25d	1	0.79mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	19d	1	0.82mi
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	3d	1	0.91mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	0.91mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	44d	1	0.95mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	1.06mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	1.07mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	21d	1	1.10mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.10mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	1.10mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	17d	1	1.12mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	16d	1	1.14mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	1.15mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	6d	1	1.20mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.21mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	17d	1	1.21mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	1.23mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	25d	1	1.24mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.29mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	17d	1	1.37mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	44d	1	1.41mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	25d	1	1.44mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	4d	1	1.46mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.47mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	6d	1	1.48mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	20d	1	1.50mi

Listing history 5 events

1. 2026-06-21
   remarks 532-char remark
2. 2026-06-21
   days on market $80,000 Active 3 DOM
3. 2026-06-19
   price $80,000 Active 1 DOM

   Show marketing remark (147 chars)

   Great addition to your portfolio with a long-term renter that brings in $1000 monthly. Please do not approach the house!! More photos to come soon.

4. 2026-06-18
   remarks 147-char remark
5. 2026-06-18
   listed $80 Active 1 DOM

ⓘ 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 ≥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: $17,497
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$2,327
• Taxable income: $6,289
• Est. tax owed @ 24.0%: −$1,509
• After-tax cash flow: $5,679/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

+436.9% since first listed

9 events — show timeline

• 2026-06-19 Price Changed $80,000 MiRealSource-MiMLS
• 2026-06-18 Price Changed $80,000 REALCOMP
• 2026-06-15 Listed $80 REALCOMP
• 2026-06-15 Listed $80 MiRealSource-MiMLS
• 2021-07-22 Sold (Public Records) $84,550 Public Records
• 2009-06-19 Listing Removed — REALCOMP
• 2009-04-19 Listing Removed — REALCOMP
• 2009-04-04 Listed $14,900 REALCOMP
• 2009-03-12 Listed $14,900 REALCOMP

Property tax history

+12.8%/yr

Latest (2025): $5,323 · +0.5% YoY. Source: county tax records.