15786 Parkside St · Detroit, MI 48238

$70,000

4 bd · 2.0 ba · 2,200 sqft · SingleFamily public records · 4 Days on market

Built 1925 3,049 sqft lot

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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 +7.5/15.0
• 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

* * * INVESTOR SPECIAL * * * This property features 2 spacious units. 2 bedrooms, 1 bath each. Rent both, or live in one and rent the other. There is a surprise additional unit in the rear separate from duplex that can serve as an additional rental or studio space. Location situated on a quiet block not far from shopping, restaurants, schools/university, and easy freeway access. Seller is only entertaining serious offers.

Key facts

• Easy freeway access
• Quiet block
• Additional unit

Tags

• ADDITIONAL UNIT
• QUIET BLOCK
• EASY FREEWAY ACCESS

Property features AI

Finance

• Other: Property zoned Multi-Family
• Financial info: Two units total; Net operating income reported at $10,800
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Natural gas
• Home design: Duplex multi-family property; 2-story structure; Built in 1925; Located in a city (Detroit) in the Roycroft subdivision; Facing and entry level not specified
• Construction: Basement foundation
• Exterior features: Aluminum exterior; Paved street access

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Two full bathrooms
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $739 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 19.0% 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 fast (+6.1%/yr); 346 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,607/mo this rent would consume 58% 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 $484 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 + 6.1% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 16y ago 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 $30k; list at $70k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1925 — 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: 2.30% ✓
• Cap rate: 18.96%
• Cash-on-cash: 45.24%
• DSCR: 3.01
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $202,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16194 Princeton St	0.30mi	4/2.0	2,132 (-3%)	2mo	$160,000	$75	79
16167 Muirland St	0.27mi	3/2.0 (-1)	2,158 (-2%)	6mo	$185,000	$86	75
15389 Lawton St	0.23mi	3/1.5 (-1)	2,229 (+1%)	10mo	$144,900	$65	72
16147 Normandy St	0.32mi	3/1.5 (-1)	2,082 (-5%)	2mo	$189,000	$91	67
16532 Parkside St	0.37mi	3/1.5 (-1)	2,097 (-5%)	3mo	$223,850	$107	66
16569 Muirland St	0.42mi	4/2.0	2,323 (+6%)	9mo	$235,000	$101	64
15745 Princeton St	0.14mi	3/1.0 (-1)	1,994 (-9%)	10mo	$52,000	$26	60
16239 Muirland St	0.33mi	3/1.5 (-1)	2,046 (-7%)	7mo	$211,000	$103	60
16125 Linwood St	0.26mi	3/1.5 (-1)	1,927 (-12%)	1mo	$178,900	$93	59
16170 Monica St	0.66mi	3/2.5 (-1)	2,226 (+1%)	9mo	$205,000	$92	53
2978 Doris St	0.73mi	4/2.0	1,934 (-12%)	5mo	$33,000	$17	42
17136 Fairfield St	0.72mi	5/1.5 (+1)	1,870 (-15%)	6mo	$290,000	$155	29

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: 46.0%
• Equity multiple: 3.09×
• Total profit: $41,013
• Equity at exit: $10,437

10-year hold

• IRR: 53.3%
• Equity multiple: 7.09×
• Total profit: $119,452
• Equity at exit: $6,052

Cash invested: $19,600 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$367
• Tax from tax record: −$134 /mo · $1,609/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $739

Break-even live

Break-even rent $671

Max offer price $70,000

Occupancy floor 49%

Sensitivity live

Price	-10% $779	-5% $759	+0% $739	+5% $719	+10% $699
Rent	-10% $612	-5% $676	+0% $739	+5% $802	+10% $866
Rate	-1.0pp $774	-0.5pp $757	base $739	+0.5pp $721	+1.0pp $702

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	44d	1	0.27mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	4d	1	0.36mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.09mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	1.13mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	24d	1	1.24mi
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	11d	1	1.27mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.35mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	1.39mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	24d	1	1.42mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	1.45mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	18d	1	1.46mi

Listing history 6 events

1. 2026-06-18
   days on market $70,000 Active 4 DOM
2. 2026-06-17
   days on market $70,000 Active 3 DOM
3. 2026-06-16
   days on market $70,000 Active 2 DOM
4. 2026-06-15
   listing id $70,000 Active 1 DOM
5. 2026-06-15
   remarks 429-char remark
6. 2026-06-15
   listed $70,000 Active 1 DOM

ⓘ 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: $1,609 · $134/mo
• Projected year-2 tax: $1,609 · $134/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 2/10 Low 6 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,281
• − Mortgage interest: −$3,921
• − Property taxes: −$1,609
• − Insurance: −$350
• − Repairs & maintenance: −$1,542
• − Management: −$1,542
• − Depreciation: −$2,036
• Taxable income: $8,280
• Est. tax owed @ 24.0%: −$1,987
• After-tax cash flow: $6,881/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

+1300.0% since first listed

12 events — show timeline

• 2026-06-14 Listed $70,000 MiRealSource-MiMLS
• 2026-06-14 Listed $70,000 REALCOMP
• 2018-08-20 Pending — MiRealSource-MiMLS
• 2018-08-20 Pending — REALCOMP
• 2018-08-20 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2018-08-20 Sold (MLS) $30,000 REALCOMP
• 2018-06-21 Listed $30,000 MiRealSource-MiMLS
• 2018-06-21 Listed $30,000 REALCOMP
• 2011-02-17 Sold (MLS) $3,350 MiRealSource-MiMLS
• 2011-02-17 Sold (MLS) $3,350 REALCOMP
• 2010-09-10 Listed $5,000 MiRealSource-MiMLS
• 2010-09-10 Listed $5,000 REALCOMP

Property tax history

+3.1%/yr

Latest (2025): $1,609 · +0.1% YoY. Source: county tax records.