15478 Lola Dr · Detroit, MI 48239

$139,900

4 bd · 1.0 ba · 884 sqft · SingleFamily public records · 3 Days on market

Built 1930 4,356 sqft lot Est $110k · 27% over

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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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +7.5/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Panoramic view of park and valley directly accross street * Completely renovoated home in move-in condition * Double lot * All mechanicals new or less than 5 years old * Brand new flooring through-out * Entire house just painted * 2nd floor taken down to studs, new walls, ceiling and insulation * Bathroom taken down to studs , new tub, vanity and toilet, new ceramic floor and new ceramic tub surround * New interior doors * Sparkling clean * Oversized mechanics dream garage * Brand new roof on garage * Huge yard with deck * Taxes are currently non-homestead * Agent has interest in home *

Key facts

• Panoramic view
• New walls
• New bathroom

Tags

• PANORAMIC VIEW
• DOUBLE LOT
• NEW MECHANICALS
• NEW FLOORING
• NEW WALLS
• NEW BATHROOM

Property features AI

Finance

• Other: Directions: Off Beech on Lola or off 5 Mile on Lola; Subdivision: B E Taylor Brightmoor Mercier Sub; Cross street: 5 Mile and Beech; Listing broker: RE/MAX Classic

Exterior

• Parking: Detached garage with approximately 2.5 car capacity; Driveway; Garage door opener; Oversized garage with workshop area
• Utilities: Public water; Public sewer; Electric service with circuit breakers and 220V
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding exterior; Block foundation
• Exterior features: Fenced yard; Paved road access; Lot measures approximately 70 x 119.5 (0.1 acre)

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator; Microwave; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 7 total rooms; Unfinished basement; Gas water heater; Microwave
• Laundry & utility: Washer hookup; Dryer (gas dryer hookup available); Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

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.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 22y 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 $34k; list at $140k implies a 308% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1930 — 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: 1.25% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $110,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15490 Dixie	0.14mi	3/1.0 (-1)	912 (+3%)	2mo	$135,000	$148	82
15491 Leona Dr	0.04mi	3/1.0 (-1)	912 (+3%)	11mo	$86,000	$94	79
15512 Dixie	0.13mi	3/1.0 (-1)	924 (+4%)	4mo	$130,000	$141	78
15332 Leona	0.18mi	3/1.0 (-1)	912 (+3%)	8mo	$160,000	$175	75
15907 Knight	0.20mi	3/1.0 (-1)	840 (-5%)	10mo	$87,500	$104	69
16230 Winston St	0.46mi	3/1.0 (-1)	917 (+4%)	1mo	$80,000	$87	67
16131 Lenore	0.44mi	3/1.0 (-1)	864 (-2%)	10mo	$69,900	$81	63
15407 Chelsea	0.44mi	3/1.0 (-1)	960 (+9%)	5mo	$147,500	$154	56
25373 Ivanhoe Ave	0.57mi	3/1.5 (-1)	946 (+7%)	0mo	$180,250	$191	54
15893 Lenore Ave	0.40mi	3/1.0 (-1)	960 (+9%)	9mo	$120,000	$125	54
16841 Winston St	0.69mi	3/1.0 (-1)	954 (+8%)	4mo	$95,500	$100	46
16531 Winston St	0.52mi	3/1.0 (-1)	1,013 (+15%)	7mo	$45,000	$44	41

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: 3.7%
• Equity multiple: 1.14×
• Total profit: $5,573
• Equity at exit: $20,860

10-year hold

• IRR: 13.4%
• Equity multiple: 2.09×
• Total profit: $42,509
• Equity at exit: $12,096

Cash invested: $39,172 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$734
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $436

Break-even live

Break-even rent $1,198

Max offer price $139,900

Occupancy floor 70%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	5d	1	0.13mi
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	17d	1	0.40mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	5d	1	0.56mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	18d	1	0.62mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	18d	1	0.72mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	5d	1	1.17mi
14280 Bramell St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	17d	1	1.37mi
18302 Wormer St Detroit, MI	3.0	1.0	1046	$1,475	$1.41	44d	1	1.43mi

Listing history 32 events

1. 2026-05-01
   status Pending 609-char remark

   Show marketing remark (609 chars)

   * Panoramic view of park and valley directly accross street * Completely renovoated home in move-in condition * Double lot * All mechanicals new or less than 5 years old * Brand new flooring through-out * Entire house just painted * 2nd floor taken down to studs, new walls, ceiling and insulation * Bathroom taken down to studs , new tub, vanity and toilet, new ceramic floor and new ceramic tub surround * New interior doors * Sparkling clean * Oversized mechanics dream garage * Brand new roof on garage * Huge yard with deck * Taxes are currently non-homestead * Agent has interest in home *

2. 2026-05-01
   status Pending

   Show marketing remark (609 chars)

   * Panoramic view of park and valley directly accross street * Completely renovoated home in move-in condition * Double lot * All mechanicals new or less than 5 years old * Brand new flooring through-out * Entire house just painted * 2nd floor taken down to studs, new walls, ceiling and insulation * Bathroom taken down to studs , new tub, vanity and toilet, new ceramic floor and new ceramic tub surround * New interior doors * Sparkling clean * Oversized mechanics dream garage * Brand new roof on garage * Huge yard with deck * Taxes are currently non-homestead * Agent has interest in home *

3. 2026-04-27
   listed $139,900 Active 609-char remark

   Show marketing remark (609 chars)

   * Panoramic view of park and valley directly accross street * Completely renovoated home in move-in condition * Double lot * All mechanicals new or less than 5 years old * Brand new flooring through-out * Entire house just painted * 2nd floor taken down to studs, new walls, ceiling and insulation * Bathroom taken down to studs , new tub, vanity and toilet, new ceramic floor and new ceramic tub surround * New interior doors * Sparkling clean * Oversized mechanics dream garage * Brand new roof on garage * Huge yard with deck * Taxes are currently non-homestead * Agent has interest in home *

4. 2026-04-27
   listed $139,900 Active

   Show marketing remark (609 chars)

   * Panoramic view of park and valley directly accross street * Completely renovoated home in move-in condition * Double lot * All mechanicals new or less than 5 years old * Brand new flooring through-out * Entire house just painted * 2nd floor taken down to studs, new walls, ceiling and insulation * Bathroom taken down to studs , new tub, vanity and toilet, new ceramic floor and new ceramic tub surround * New interior doors * Sparkling clean * Oversized mechanics dream garage * Brand new roof on garage * Huge yard with deck * Taxes are currently non-homestead * Agent has interest in home *

5. 2025-12-31
   historical
6. 2025-10-27
   price $139,900
7. 2025-10-26
   price $139,900
8. 2025-09-12
   price $149,900
9. 2025-09-12
   price $149,900
10. 2025-08-28
    status Active
11. 2025-08-28
    status Active
12. 2025-08-23
    historical Accepting Backup Offers
13. 2025-08-23
    historical Active Under Contract
14. 2025-08-08
    listed $160,000 Active
15. 2025-08-08
    listed $160,000 Active
16. 2019-10-29
    soldstatus $34,250 Sold
17. 2019-10-29
    soldstatus $34,250 Closed
18. 2019-10-20
    status Pending
19. 2019-10-20
    status Pending
20. 2019-10-16
    listed $35,000 Active
21. 2019-10-16
    listed $35,000 Active
22. 2008-12-30
    soldstatus $31,000
23. 2008-09-05
    listed $31,000
24. 2007-05-08
    historical
25. 2007-05-03
    listed $99,900
26. 2005-02-07
    soldstatus $100,000
27. 2004-09-09
    soldstatus $99,900
28. 2004-07-26
    listed $99,900
29. 2004-07-26
    historical
30. 2004-06-25
    listed $104,900
31. 2000-10-20
    soldstatus $88,000
32. 1995-08-09
    soldstatus $55,000

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $2,002 · $167/mo
• Expected delta: +$152/yr (+$13/mo · 8.2%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,999
• − Mortgage interest: −$7,837
• − Property taxes: −$1,850
• − Insurance: −$700
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$4,070
• Taxable income: $3,183
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $4,472/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 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

• County: Wayne County · 1,562,939 people
• City population: 36,976
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• 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

+154.4% since first listed

32 events — show timeline

• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-05-01 Pending — REALCOMP
• 2026-04-27 Listed $139,900 REALCOMP
• 2026-04-27 Listed $139,900 MiRealSource-MiMLS
• 2025-12-31 Listing Removed — MiRealSource-MiMLS
• 2025-10-27 Price Changed $139,900 MiRealSource-MiMLS
• 2025-10-26 Price Changed $139,900 REALCOMP
• 2025-09-12 Price Changed $149,900 MiRealSource-MiMLS
• 2025-09-12 Price Changed $149,900 REALCOMP
• 2025-08-28 Relisted — MiRealSource-MiMLS
• 2025-08-28 Relisted — REALCOMP
• 2025-08-23 Contingent — MiRealSource-MiMLS
• 2025-08-23 Contingent — REALCOMP
• 2025-08-08 Listed $160,000 REALCOMP
• 2025-08-08 Listed $160,000 MiRealSource-MiMLS
• 2019-10-29 Sold (MLS) $34,250 MiRealSource-MiMLS
• 2019-10-29 Sold (MLS) $34,250 REALCOMP
• 2019-10-20 Pending — MiRealSource-MiMLS
• 2019-10-20 Pending — REALCOMP
• 2019-10-16 Listed $35,000 MiRealSource-MiMLS
• 2019-10-16 Listed $35,000 REALCOMP
• 2008-12-30 Sold (MLS) $31,000 REALCOMP
• 2008-09-05 Listed $31,000 REALCOMP
• 2007-05-08 Listing Removed — REALCOMP
• 2007-05-03 Listed $99,900 REALCOMP
• 2005-02-07 Sold (Public Records) $100,000 Public Records
• 2004-09-09 Sold (MLS) $99,900 REALCOMP
• 2004-07-26 Listing Removed — REALCOMP
• 2004-07-26 Listed $99,900 REALCOMP
• 2004-06-25 Listed $104,900 REALCOMP
• 2000-10-20 Sold (Public Records) $88,000 Public Records
• 1995-08-09 Sold (Public Records) $55,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $1,850 · -46.1% YoY. Source: county tax records.