15846 Monte Vista St · Detroit, MI 48238

$49,500

2 bd · 1.0 ba · 844 sqft · Townhouse public records · 252 Days on market

Built 1940 3,049 sqft lot $59/sqft · at area comps Est $48k · 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 +5.7/15.0
• 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

Charming brick duplex in Detroit’s Pilgrim Village neighborhood! This home offers 2 bedrooms, 1 bath, and a comfortable layout with good natural light. The covered front porch adds curb appeal, while the basement provides extra storage space. Conveniently located near major roads and local amenities, this property is a great option for investors or buyers looking for an affordable home with plenty of potential.

Key facts

• Covered front porch
• Near major roads
• Brick duplex

Tags

• BRICK DUPLEX
• COVERED FRONT PORCH
• BASEMENT
• NEAR MAJOR ROADS
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 41% of the median local income ($33k/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 $342 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($44k) 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.

Risks & watch-outs

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

Recommended offer $43,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 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 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: 2.31% ✓
• Cap rate: 19.51%
• Cash-on-cash: 47.22%
• DSCR: 3.10
• GRM: 3.6

CMA / ARV

• ARV (median comp): $47,601
• List price: $49,500
• Delta: 3.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 48.2%
• Equity multiple: 3.20×
• Total profit: $30,473
• Equity at exit: $7,381

10-year hold

• IRR: 55.2%
• Equity multiple: 7.33×
• Total profit: $87,714
• Equity at exit: $4,280

Cash invested: $13,860 (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: $1,146 high
• Mortgage (P&I): −$260
• Tax from tax record: −$79 /mo · $954/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $545

Break-even live

Break-even rent $455

Max offer price $49,500

Occupancy floor 47%

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	43d	1	0.08mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	0.18mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.18mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	43d	1	0.30mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	0.31mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	43d	1	0.32mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	43d	1	0.33mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.40mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	43d	1	0.43mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	0.47mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.52mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.54mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	0.63mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	16d	1	0.66mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	43d	2	0.69mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.77mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.80mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.81mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.86mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.86mi
14881 Schaefer Hwy Detroit, MI	1.0	1.0	530	$782	$1.48	2d	4	0.90mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	0.93mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	0.93mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.96mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	12d	1	1.04mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	16d	1	1.09mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.09mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	1.10mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	1.14mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	16d	1	1.19mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.25mi
18461 Washburn St Detroit, MI	1.0	1.0	690	$775	$1.12	43d	1	1.33mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.34mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	1.34mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	1.36mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	1.39mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	1.41mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	1.42mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	1.42mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	1.42mi

Listing history 15 events

1. 2026-06-18
   days on market $49,500 Active 252 DOM
2. 2026-06-17
   days on market $49,500 Active 251 DOM
3. 2026-06-15
   days on market $49,500 Active 249 DOM
4. 2026-06-13
   days on market $49,500 Active 247 DOM
5. 2026-06-13
   pricedays on market $49,500 Active 246 DOM
6. 2026-06-09
   days on market $52,000 Active 243 DOM
7. 2026-06-08
   days on market $52,000 Active 242 DOM
8. 2026-06-07
   days on market $52,000 Active 241 DOM
9. 2026-06-04
   days on market $52,000 Active 238 DOM
10. 2026-06-03
    days on market $52,000 Active 237 DOM
11. 2026-06-01
    days on market $52,000 Active 235 DOM
12. 2026-05-31
    days on market $52,000 Active 234 DOM
13. 2025-10-09
    listed $52,000 Active 420-char remark

    Show marketing remark (414 chars)

    Charming brick duplex in Detroit's Pilgrim Village neighborhood! This home offers 2 bedrooms, 1 bath, and a comfortable layout with good natural light. The covered front porch adds curb appeal, while the basement provides extra storage space. Conveniently located near major roads and local amenities, this property is a great option for investors or buyers looking for an affordable home with plenty of potential.

14. 2025-10-09
    listed $52,000 Active 414-char remark

    Show marketing remark (414 chars)

    Charming brick duplex in Detroit's Pilgrim Village neighborhood! This home offers 2 bedrooms, 1 bath, and a comfortable layout with good natural light. The covered front porch adds curb appeal, while the basement provides extra storage space. Conveniently located near major roads and local amenities, this property is a great option for investors or buyers looking for an affordable home with plenty of potential.

15. 2006-10-20
    soldstatus $50,000

ⓘ 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: $954 · $79/mo
• Projected year-2 tax: $954 · $79/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 ≥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: $13,747
• − Mortgage interest: −$2,773
• − Property taxes: −$954
• − Insurance: −$248
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$1,440
• Taxable income: $6,134
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $5,072/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

+4.0% since first listed

3 events — show timeline

• 2025-10-09 Listed $52,000 REALCOMP
• 2025-10-09 Listed $52,000 MiRealSource-MiMLS
• 2006-10-20 Sold (Public Records) $50,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $954 · -46.2% YoY. Source: county tax records.