15469 Troester St · Detroit, MI 48205

$65,000

3 bd · 1.0 ba · 1,083 sqft · SingleFamily public records · 74 Days on market

Built 1940 4,356 sqft lot Est $63k · at est.

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Why this score? — see what drove the B- 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
• ARV discount +5.9/15.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1940

Property features AI

Finance

• Other: Located in the John Kelly Estate subdivision; Directions: south of 7 Mile, east of Gratiot

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story home; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.1 acres (40 x 112.32)

Interior

• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 10.2% 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 (+1.3%/yr); 373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 41% 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 $449 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $20k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $65k implies a 356% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 2.03% ✓
• Cap rate: 16.43%
• Cash-on-cash: 36.22%
• DSCR: 2.61
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $62,814
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12519 Riad St	0.43mi	3/1.0	1,135 (+5%)	0mo	$100,000	$88	72
15256 Fordham St	0.56mi	3/1.5	1,099 (+2%)	3mo	$60,000	$55	67
15411 Young St St	0.17mi	3/1.5	1,240 (+14%)	2mo	$95,000	$77	64
12056 Duchess St	0.31mi	3/1.0	950 (-12%)	3mo	$30,000	$32	63
10904 N Mogul St	0.69mi	3/1.0	1,045 (-4%)	0mo	$113,000	$108	62
12893 Payton St	0.60mi	3/1.0	1,020 (-6%)	1mo	$75,000	$74	61
14728 Wilfred St	0.70mi	3/1.0	1,050 (-3%)	3mo	$30,500	$29	60
11742 Whitehill St	0.42mi	3/1.5	1,228 (+13%)	1mo	$61,000	$50	55
15416 Eastwood St	0.50mi	3/1.0	1,211 (+12%)	2mo	$70,000	$58	55
15260 Faircrest St	0.41mi	2/1.0 (-1)	942 (-13%)	1mo	$35,000	$37	54
12660 Duchess St	0.63mi	3/1.0	974 (-10%)	2mo	$55,000	$56	52
11475 Lakepointe St	0.66mi	2/1.0 (-1)	953 (-12%)	3mo	$95,000	$100	42

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: 30.0%
• Equity multiple: 2.23×
• Total profit: $22,322
• Equity at exit: $9,692

10-year hold

• IRR: 36.3%
• Equity multiple: 4.08×
• Total profit: $56,037
• Equity at exit: $5,620

Cash invested: $18,200 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,317 high
• Mortgage (P&I): −$341
• Tax from tax record: −$123 /mo · $1,475/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $549

Break-even live

Break-even rent $621

Max offer price $65,000

Occupancy floor 53%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	0.14mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	0.34mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.46mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	44d	1	0.48mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	44d	1	0.53mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.53mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.58mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.62mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.65mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.67mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	11d	1	0.68mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	3d	1	0.68mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.70mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.72mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.74mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.76mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.76mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	44d	1	0.76mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.76mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	0.77mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.78mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.78mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.81mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	0.81mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.83mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	0.87mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.91mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.95mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.97mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.98mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	1.02mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	1.03mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	44d	1	1.03mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.05mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	1.07mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.07mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	44d	1	1.07mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.08mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	1.08mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.08mi

Listing history 17 events

1. 2026-05-01
   status Pending

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

2. 2026-05-01
   status Pending 121-char remark

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

3. 2026-04-23
   status Active 121-char remark

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

4. 2026-04-23
   status Active

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

5. 2026-04-09
   historical Accepting Backup Offers 121-char remark

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

6. 2026-04-09
   historical Active Under Contract

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

7. 2026-04-01
   price $65,000 121-char remark

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

8. 2026-03-31
   price $65,000
9. 2026-02-27
   price $76,800 121-char remark

   Show marketing remark (121 chars)

   Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

10. 2026-02-27
    price $76,800

    Show marketing remark (121 chars)

    Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

11. 2026-02-16
    listed $84,900 Active

    Show marketing remark (121 chars)

    Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

12. 2026-02-16
    listed $84,900 Active 121-char remark

    Show marketing remark (121 chars)

    Excellent Opportunity to purchase this single-family home on Detroit's East Side for both investors and homeowners alike.

13. 2007-12-12
    soldstatus $14,250 197-char remark

    Show marketing remark (197 chars)

    BRICK BUNGALOW W/ MASTER BEDROOM UP AND TWO BEDROOMS DOWN. FURNACE IS MISSING. BANK OWNED. PURCHASE AS-IS. PROOF OF FUNDS OR PRE-APPROVAL REQUIRED. PROPERTY HAS BEEN SELECTED FOR AN ONLINE AUCTION.

14. 2007-12-12
    soldstatus $14,250

    Show marketing remark (197 chars)

    BRICK BUNGALOW W/ MASTER BEDROOM UP AND TWO BEDROOMS DOWN. FURNACE IS MISSING. BANK OWNED. PURCHASE AS-IS. PROOF OF FUNDS OR PRE-APPROVAL REQUIRED. PROPERTY HAS BEEN SELECTED FOR AN ONLINE AUCTION.

15. 2007-11-30
    historical
16. 2007-05-10
    listed $19,900 197-char remark

    Show marketing remark (197 chars)

    BRICK BUNGALOW W/ MASTER BEDROOM UP AND TWO BEDROOMS DOWN. FURNACE IS MISSING. BANK OWNED. PURCHASE AS-IS. PROOF OF FUNDS OR PRE-APPROVAL REQUIRED. PROPERTY HAS BEEN SELECTED FOR AN ONLINE AUCTION.

17. 2007-05-10
    listed $19,900

    Show marketing remark (197 chars)

    BRICK BUNGALOW W/ MASTER BEDROOM UP AND TWO BEDROOMS DOWN. FURNACE IS MISSING. BANK OWNED. PURCHASE AS-IS. PROOF OF FUNDS OR PRE-APPROVAL REQUIRED. PROPERTY HAS BEEN SELECTED FOR AN ONLINE AUCTION.

ⓘ 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: $1,475 · $123/mo
• Projected year-2 tax: $1,475 · $123/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 ≥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: $15,801
• − Mortgage interest: −$3,641
• − Property taxes: −$1,475
• − Insurance: −$325
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$1,891
• Taxable income: $5,940
• Est. tax owed @ 24.0%: −$1,426
• After-tax cash flow: $5,166/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

+226.6% since first listed

17 events — show timeline

• 2026-05-01 Pending — REALCOMP
• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-04-23 Relisted — MiRealSource-MiMLS
• 2026-04-23 Relisted — REALCOMP
• 2026-04-09 Contingent — MiRealSource-MiMLS
• 2026-04-09 Contingent — REALCOMP
• 2026-04-01 Price Changed $65,000 MiRealSource-MiMLS
• 2026-03-31 Price Changed $65,000 REALCOMP
• 2026-02-27 Price Changed $76,800 MiRealSource-MiMLS
• 2026-02-27 Price Changed $76,800 REALCOMP
• 2026-02-16 Listed $84,900 REALCOMP
• 2026-02-16 Listed $84,900 MiRealSource-MiMLS
• 2007-12-12 Sold (MLS) $14,250 MiRealSource-MiMLS
• 2007-12-12 Sold (MLS) $14,250 REALCOMP
• 2007-11-30 Listing Removed — MiRealSource-MiMLS
• 2007-05-10 Listed $19,900 MiRealSource-MiMLS
• 2007-05-10 Listed $19,900 REALCOMP

Property tax history

-2.1%/yr

Latest (2025): $1,475 · -56.8% YoY. Source: county tax records.