1246 15th · Wyandotte, MI 48192

$149,900

3 bd · 1.0 ba · 1,054 sqft · SingleFamily public records

Built 1946 5,184 sqft lot Est $181k · 17% under ↓ 1% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• 1% rule +4.6/10.0
• Rent growth +4.5/5.0
• Livability +4.4/5.0
• DSCR +3.6/10.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

Key facts

• 5,184 sq ft lot
• Garage
• Built 1946

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 $-34 ($-410/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (3.8% below list).
• Recommended offer: $144k (4.0% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.8% in Wyandotte — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 88/100 on livability (#11 in MI, #181 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-.
• Wyandotte School District (suburban): math 27% / reading 45% proficiency, ranked #262 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jefferson Elementary School (math 22% / reading 42%, grade F, #814 of 1,397 statewide, top 61%, 479 students, 61% FRL); Woodrow Wilson School (math 20% / reading 40%, grade F, #337 of 493 statewide, top 69%, 889 students, 60% FRL); Roosevelt High School (math 27% / reading 52%, grade F, #304 of 713 statewide, top 46%, 1,232 students, 54% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 122 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,871 (4.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.96% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $181,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1429 12th St	0.22mi	3/2.0	1,048 (-1%)	0mo	$194,000	$185	84
1072 11th St	0.26mi	3/1.5	1,062 (+1%)	1mo	$218,000	$205	84
673 Leblanc St	0.49mi	3/1.0	1,092 (+4%)	1mo	$177,900	$163	71
12813 Birrell St	0.60mi	3/1.0	1,050 (-0%)	2mo	$212,000	$202	70
1063 19th St	0.20mi	2/1.0 (-1)	1,179 (+12%)	2mo	$182,000	$154	65
1119 Harrison Blvd	0.49mi	3/1.0	1,145 (+9%)	1mo	$179,900	$157	62
844 Harrison Blvd	0.25mi	3/1.0	1,210 (+15%)	3mo	$170,000	$140	61
866 Clinton St	0.71mi	3/1.0	1,000 (-5%)	2mo	$177,500	$178	57
829 Hudson St	0.48mi	2/1.0 (-1)	1,172 (+11%)	2mo	$139,500	$119	52
4137 Duplex Ave	0.72mi	3/1.0	1,200 (+14%)	1mo	$206,000	$172	42
663 Highland Ave	0.72mi	3/1.5	1,200 (+14%)	3mo	$195,000	$163	38
2232 9th St	0.74mi	2/1.0 (-1)	920 (-13%)	2mo	$177,500	$193	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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.55×
• Total profit: $-18,964
• Equity at exit: $22,351

10-year hold

• IRR: 3.9%
• Equity multiple: 1.35×
• Total profit: $14,669
• Equity at exit: $12,961

Cash invested: $41,972 (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 48192

• Rents YoY: 7.9%
• Active inventory: 122
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,441 high
• Mortgage (P&I): −$786
• Tax from tax record: −$324 /mo · $3,891/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-34

Break-even live

Break-even rent $1,485

Max offer price $143,871

Occupancy floor 97%

Sensitivity live

Price	-10% $51	-5% $8	+0% $-34	+5% $-77	+10% $-119
Rent	-10% $-148	-5% $-91	+0% $-34	+5% $23	+10% $80
Rate	-1.0pp $41	-0.5pp $4	base $-34	+0.5pp $-73	+1.0pp $-112

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1163 17th St Wyandotte, MI	3.0	1.0	1010	$1,695	$1.68	45d	1	0.10mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	4d	1	0.26mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	4d	1	0.26mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	26d	1	0.26mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	6d	1	0.27mi
854 Harrison Blvd Lincoln Park, MI	3.0	1.0	1410	$1,750	$1.24	45d	1	0.28mi
1650 19th St Wyandotte, MI	3.0	2.0	1100	$1,899	$1.73	19d	1	0.33mi
1130 21st St Wyandotte, MI	3.0	1.0	864	$1,420	$1.64	0d	1	0.35mi
1159 McKinley St Wyandotte, MI	3.0	1.0	1050	$1,350	$1.29	0d	1	0.87mi
13020 Pullman St Southgate, MI	4.0	1.0	1050	$1,550	$1.48	4d	1	0.87mi
357 Emmons Blvd Lincoln Park, MI	3.0	1.0	1268	$1,695	$1.34	0d	1	0.91mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	19d	1	0.92mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	26d	1	1.00mi
4163 Burns Ave Lincoln Park, MI	3.0	1.0	900	$1,500	$1.67	3d	1	1.02mi
1750 Saint Johns Blvd Unit 17 Lincoln Park, MI	2.0	1.0	750	$1,025	$1.37	26d	1	1.08mi
1760 Saint Johns Blvd Apt 14 Lincoln Park, MI	2.0	1.0	750	$995	$1.33	26d	1	1.10mi
850 Biddle Ave Unit 2 Wyandotte, MI	2.0	1.0	800	$1,300	$1.62	0d	1	1.12mi
2700 6th St Wyandotte, MI	1.0–2.0	1.0	900	$1,095	$1.22	45d	2	1.15mi
170 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,399	$1.30	4d	1	1.16mi
168 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,295	$1.20	6d	1	1.16mi
146 Bondie St Wyandotte, MI	2.0	1.0	820	$1,650	$2.01	0d	1	1.18mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	19d	1	1.27mi
82 Poplar St Apt 2 Wyandotte, MI	2.0	1.0	900	$1,295	$1.44	45d	1	1.35mi
1569 Sycamore St Wyandotte, MI	3.0	1.0	944	$1,695	$1.80	45d	1	1.36mi

Listing history 8 events

1. 2024-12-17
   status Pending 503-char remark

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

2. 2023-04-04
   soldstatus $148,000
3. 2023-03-21
   historical

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

4. 2023-03-21
   historical 503-char remark

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

5. 2023-03-03
   historical 503-char remark

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

6. 2023-02-27
   listed $149,900 503-char remark

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

7. 2023-02-27
   listed $149,900

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

8. 2023-02-27
   listed $149,900 503-char remark

   Show marketing remark (503 chars)

   All-brick three bedroom home directly across from middle school. Two bedrooms and bath on first floor. Large second floor bedroom. First floor is freshly painted with refinished hardwood throughout. Full basement with recreation and laundry areas. One car garage with workbench/work area. Separate shed for mower and other outdoor equipment. City inspection list completed but for two sidewalk slabs and garage door trim painting. $1300 escrow to be provided at closing to cover costs. , Rec Room: Space

ⓘ 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: $3,891 · $324/mo
• Projected year-2 tax: $3,891 · $324/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,296
• − Mortgage interest: −$8,397
• − Property taxes: −$3,891
• − Insurance: −$750
• − Repairs & maintenance: −$1,384
• − Management: −$1,384
• − Depreciation: −$4,361
• Taxable loss: −$2,869
• Est. tax savings @ 24.0%: +$689
• After-tax cash flow: $279/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: Wyandotte School District
• NCES district ID: 2636540
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $50,265
• Composite: 31.13/100
• National rank: #6060
• State rank: #262 of 540 in MI

Livability — Wyandotte

• Score: 88/100
• State rank: #11
• US rank: #181

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime B+ Employment C- Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyandotte, MI
• County: Wayne County · 1,562,939 people
• City population: 24,489
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,489
• Household income: $71,987
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 570.0

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 White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 19% Lithuanian 4% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 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: ▼ -228.97%
• Current HPI: 174.8428
• Rent YoY: ▲ 7.86%
• 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

-1.3% since first listed

8 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-04-04 Sold (Public Records) $148,000 Public Records
• 2023-03-21 Listing Removed — MiRealSource-MiMLS
• 2023-03-21 Listing Removed — SW Michigan MLS
• 2023-03-03 Listing Removed — REALCOMP
• 2023-02-27 Listed $149,900 MiRealSource-MiMLS
• 2023-02-27 Listed $149,900 SW Michigan MLS
• 2023-02-27 Listed $149,900 REALCOMP

Property tax history

+5.8%/yr

Latest (2025): $3,891 · -15.4% YoY. Source: county tax records.