16503 Sussex St · Detroit, MI 48235

$150,000

3 bd · 1.0 ba · 1,131 sqft · SingleFamily public records · 221 Days on market

Built 1941 5,227 sqft lot $133/sqft · 46% above area Est $139k · 8% over

---

Why this score? — see what drove the D 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 +18.4/30.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• ARV discount +4.0/15.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Time to Nestle here at, 16503 Sussex ST, Detroit. This home is Ready to roll out the welcome mat; Inviting you to come inside! This Spacious Brick Bungalow is not just a house; it's a ready-to-move-in opportunity to start living the good life. Imagine cozy evenings spent in a living room featuring natural wood floors where the glow of a real fireplace sets the mood, promising evenings filled with warmth and relaxation. The Upgraded kitchen, is where your culinary adventures await, complete with all appliances. With 3 bedrms and 1.1 baths, everyone can claim their own space. This Classic Detroit home has been upgraded in 2020 with new flooring, updated kitchen, & bathrooms ready for a new chapter with someone who appreciates classic charm. This is more than just a place to hang your hat; it's a wonderful Home for making memories that will last a lifetime. * Added Bonus: Seller concessions to cover buyers closing costs; seller will replace roof; and seller will make reasonable improvements with accepted offer.

Key facts

• Natural wood floors
• New flooring
• Upgraded kitchen

Tags

• NATURAL WOOD FLOORS
• REAL FIREPLACE
• UPGRADED KITCHEN
• NEW FLOORING
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.4% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+3.2%/yr); 291 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).
• This rent runs 44% 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 $1k 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 221 days — a 12% lower offer ($132k) 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 $44k; list at $150k implies a 241% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 221 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $139,185
• List price: $150,000
• Delta: 7.77%
• 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
16174 Lauder St	0.23mi	3/2.0	1,084 (-4%)	3mo	$102,900	$95	76
15366 Sussex St	0.57mi	3/1.0	1,100 (-3%)	3mo	$105,000	$95	66
15508 Saint Marys St	0.71mi	3/1.0	1,100 (-3%)	0mo	$59,900	$54	62
16183 Freeland Street St	0.49mi	3/1.0	1,224 (+8%)	3mo	$150,000	$123	61
15770 Stansbury St	0.75mi	3/1.0	1,100 (-3%)	1mo	$50,000	$45	60
16727 Mansfield St	0.53mi	3/1.5	1,207 (+7%)	3mo	$165,000	$137	59
15430 Mark Twain St	0.68mi	3/1.0	1,026 (-9%)	1mo	$95,000	$93	52
15771 Rutherford St	0.58mi	3/1.0	1,289 (+14%)	1mo	$55,106	$43	49
15316 Prevost St NE	0.75mi	2/1.5 (-1)	1,193 (+6%)	2mo	$157,000	$132	48
15328 Prest St E	0.63mi	3/1.5	1,298 (+15%)	3mo	$66,999	$52	41
15727 Mansfield St	0.65mi	3/1.5	1,300 (+15%)	3mo	$55,000	$42	40
16150 Cruse St	0.63mi	2/1.0 (-1)	966 (-15%)	4mo	$40,000	$41	38

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-15,111
• Equity at exit: $22,365

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-305
• Equity at exit: $12,969

Cash invested: $42,000 (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 48235

• Rents YoY: 3.2%
• Active inventory: 291
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,433 high
• Mortgage (P&I): −$787
• Tax from tax record: −$145 /mo · $1,735/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $139

Break-even live

Break-even rent $1,258

Max offer price $150,000

Occupancy floor 85%

Sensitivity live

Price	-10% $224	-5% $181	+0% $139	+5% $96	+10% $54
Rent	-10% $26	-5% $82	+0% $139	+5% $195	+10% $252
Rate	-1.0pp $214	-0.5pp $177	base $139	+0.5pp $100	+1.0pp $60

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	17d	1	0.17mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	26d	1	0.30mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	45d	1	0.45mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	26d	1	0.52mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	7d	1	0.54mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.56mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	0.57mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	14d	1	0.61mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	26d	1	0.61mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	26d	1	0.61mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	19d	1	0.61mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	0.62mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	18d	1	0.66mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	13d	1	0.67mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	26d	1	0.67mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	5d	1	0.69mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	45d	1	0.70mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	4d	1	0.72mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	0d	1	0.72mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	18d	1	0.80mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	18d	1	0.82mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	18d	1	0.82mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	26d	1	0.82mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	17d	1	0.90mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	14d	1	0.90mi
17573 Asbury Park Detroit, MI	3.0	2.0	990	$1,400	$1.41	0d	1	0.96mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	0.96mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	45d	1	0.97mi
18427 Greenfield Rd Detroit, MI	2.0	1.0	952	$980	$1.03	7d	1	1.02mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	45d	1	1.02mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	18d	1	1.02mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	45d	1	1.03mi
18268 Mansfield St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.04mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,500	$1.49	0d	1	1.05mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	45d	1	1.06mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	21d	1	1.06mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	5d	1	1.07mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	18d	1	1.09mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	1.10mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	14d	1	1.12mi

Listing history 16 events

1. 2026-06-21
   days on market $150,000 Active 221 DOM
2. 2026-06-18
   days on market $150,000 Active 218 DOM
3. 2026-06-17
   days on market $150,000 Active 217 DOM
4. 2026-06-15
   days on market $150,000 Active 215 DOM
5. 2026-06-13
   days on market $150,000 Active 213 DOM
6. 2026-06-13
   days on market $150,000 Active 212 DOM
7. 2026-06-09
   days on market $150,000 Active 209 DOM
8. 2026-06-08
   days on market $150,000 Active 208 DOM
9. 2026-06-07
   days on market $150,000 Active 207 DOM
10. 2026-06-04
    days on market $150,000 Active 204 DOM
11. 2026-06-03
    days on market $150,000 Active 203 DOM
12. 2026-06-01
    days on market $150,000 Active 201 DOM
13. 2026-05-31
    days on market $150,000 Active 200 DOM
14. 2025-11-12
    listed $150,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    Time to Nestle here at, 16503 Sussex ST, Detroit. This home is Ready to roll out the welcome mat; Inviting you to come inside! This Spacious Brick Bungalow is not just a house; it's a ready-to-move-in opportunity to start living the good life. Imagine cozy evenings spent in a living room featuring natural wood floors where the glow of a real fireplace sets the mood, promising evenings filled with warmth and relaxation. The Upgraded kitchen, is where your culinary adventures await, complete with all appliances. With 3 bedrms and 1.1 baths, everyone can claim their own space. This Classic Detroit home has been upgraded in 2020 with new flooring, updated kitchen, & bathrooms ready for a new chapter with someone who appreciates classic charm. This is more than just a place to hang your hat; it's a wonderful Home for making memories that will last a lifetime. * Added Bonus: Seller concessions to cover buyers closing costs; seller will replace roof; and seller will make reasonable improvements with accepted offer.

15. 2025-11-12
    listed $150,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    Time to Nestle here at, 16503 Sussex ST, Detroit. This home is Ready to roll out the welcome mat; Inviting you to come inside! This Spacious Brick Bungalow is not just a house; it's a ready-to-move-in opportunity to start living the good life. Imagine cozy evenings spent in a living room featuring natural wood floors where the glow of a real fireplace sets the mood, promising evenings filled with warmth and relaxation. The Upgraded kitchen, is where your culinary adventures await, complete with all appliances. With 3 bedrms and 1.1 baths, everyone can claim their own space. This Classic Detroit home has been upgraded in 2020 with new flooring, updated kitchen, & bathrooms ready for a new chapter with someone who appreciates classic charm. This is more than just a place to hang your hat; it's a wonderful Home for making memories that will last a lifetime. * Added Bonus: Seller concessions to cover buyers closing costs; seller will replace roof; and seller will make reasonable improvements with accepted offer.

16. 2018-01-10
    soldstatus $44,000

ⓘ 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: $1,735 · $145/mo
• Projected year-2 tax: $2,022 · $169/mo
• Expected delta: +$288/yr (+$24/mo · 16.6%)

ⓘ 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 ≥98°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: $17,202
• − Mortgage interest: −$8,402
• − Property taxes: −$1,735
• − Insurance: −$750
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$4,364
• Taxable loss: −$801
• Est. tax savings @ 24.0%: +$192
• After-tax cash flow: $1,858/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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% White 3% Two or more races 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+240.9% since first listed

3 events — show timeline

• 2025-11-12 Listed $150,000 REALCOMP
• 2025-11-12 Listed $150,000 MiRealSource-MiMLS
• 2018-01-10 Sold (Public Records) $44,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $1,735 · -37.6% YoY. Source: county tax records.