15237 Carlisle St · Detroit, MI 48205

$85,000

3 bd · 1.0 ba · 1,147 sqft · SingleFamily public records · 29 Days on market

Built 1940 4,356 sqft lot Est $86k · 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 +8.0/15.0
• 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

This 2-bedroom bungalow offers 3-full bathrooms, (one on each level), spacious living & dining rooms, 2-kitchens on the main-floor & finished basement, as well. Cozy fireplace. 1-car garage within a fenced-in yard w/ ample space for the fur babies. Handyman-special to add your own touch cosmetically. Good fit for first-time home buyers or investors. Property being sold as - is. Close proximity to major roads I-94, I-75, M-3, & M-102.All measurements to be verified by buyer. I. D. R. B. I. G BATVIA

Key facts

• 2 kitchens
• Finished basement
• Cozy fireplace

Tags

• 2 KITCHENS
• FINISHED BASEMENT
• COZY FIREPLACE
• FENCED IN YARD
• CLOSE PROXIMITY TO MAJOR ROADS

Property features AI

Exterior

• Parking: Detached garage; One garage space
• Utilities: Natural gas available; Electricity available; Public water
• Home design: Single-family residence; Residential property; Built in 1940
• Construction: Brick construction; Asphalt/composition shingle roof; Built in 1940
• Exterior features: Sidewalk; Paved road access; Public water

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom (11 x 13) with carpet; Bedroom 2 (8 x 12) with carpet
• Flooring: Carpet in primary bedroom and bedroom 2; Wood flooring in living room, dining room, kitchen, and loft
• Bathrooms: Three full bathrooms; Bathroom with tub (8 x 4); Bathroom with shower (7 x 5); Full bathroom with shower (4 x 5)
• Heating & cooling: Forced air heating; Cooling available
• Interior features: Eat-in kitchen; Fireplace; Screens; Insulated windows; Full Michigan-style basement; Seven total rooms
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 ($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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $23k; list at $85k implies a 270% 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 $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.55% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.61%
• DSCR: 2.05
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $86,025
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15275 Eastburn St	0.25mi	3/1.0	1,100 (-4%)	2mo	$56,000	$51	80
15011 Bringard Dr	0.21mi	3/1.0	1,208 (+5%)	2mo	$125,000	$103	80
14910 Fairmount Dr	0.39mi	3/1.0	1,116 (-3%)	1mo	$15,000	$13	76
15644 Carlisle St	0.26mi	3/1.0	1,055 (-8%)	0mo	$129,900	$123	74
14788 Rossini Dr	0.48mi	3/1.0	1,099 (-4%)	1mo	$82,000	$75	70
16267 Edmore Dr	0.66mi	3/1.0	1,100 (-4%)	1mo	$122,500	$111	61
14078 Bringard Dr	0.72mi	3/1.5	1,110 (-3%)	2mo	$76,000	$68	58
16260 Bringard Dr	0.68mi	3/1.0	1,036 (-10%)	0mo	$80,000	$77	52
19953 Regent Dr	0.68mi	3/1.0	1,038 (-10%)	2mo	$55,000	$53	51
14119 Edmore Dr	0.66mi	3/1.0	1,278 (+11%)	2mo	$70,000	$55	48
14068 Carlisle St	0.70mi	3/1.0	1,020 (-11%)	2mo	$55,000	$54	47
16291 Fairmount Dr	0.75mi	3/1.0	977 (-15%)	2mo	$112,000	$115	39

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: 14.9%
• Equity multiple: 1.58×
• Total profit: $13,878
• Equity at exit: $12,674

10-year hold

• IRR: 22.3%
• Equity multiple: 2.76×
• Total profit: $41,879
• Equity at exit: $7,349

Cash invested: $23,800 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$446
• Tax from tax record: −$93 /mo · $1,112/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $468

Break-even live

Break-even rent $726

Max offer price $85,000

Occupancy floor 60%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	43d	1	0.21mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	14d	1	0.27mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	43d	1	0.64mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	4d	1	0.66mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	24d	1	0.70mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	0.71mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	14d	1	0.73mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.79mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	0.82mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	0.87mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	24d	1	0.89mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	0.94mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	11d	1	0.96mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.96mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.98mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.98mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	1.03mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	1.07mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.09mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	24d	1	1.12mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	17d	1	1.14mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.17mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	1.18mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	17d	1	1.23mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	4d	1	1.23mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	17d	1	1.29mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	1.37mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	1.40mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	24d	1	1.42mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,350	$1.59	24d	1	1.42mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	1.45mi
12807 Coleen Ave Warren, MI	3.0	1.0	1080	$1,250	$1.16	24d	1	1.45mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	17d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $85,000 Active 29 DOM
2. 2026-06-17
   days on market $85,000 Active 28 DOM
3. 2026-06-15
   days on market $85,000 Active 26 DOM
4. 2026-06-13
   days on market $85,000 Active 24 DOM
5. 2026-06-13
   days on market $85,000 Active 23 DOM
6. 2026-06-09
   days on market $85,000 Active 20 DOM
7. 2026-06-08
   days on market $85,000 Active 19 DOM
8. 2026-06-07
   days on market $85,000 Active 18 DOM
9. 2026-06-04
   days on market $85,000 Active 15 DOM
10. 2026-06-03
    days on market $85,000 Active 14 DOM
11. 2026-06-02
    days on market $85,000 Active 13 DOM
12. 2026-06-01
    days on market $85,000 Active 12 DOM
13. 2026-05-31
    days on market $85,000 Active 11 DOM
14. 2026-05-20
    listed $85,000 Active

    Show marketing remark (520 chars)

    This 2-bedroom bungalow offers 3-full bathrooms, (one on each level), spacious living & dining rooms, 2-kitchens on the main-floor & finished basement, as well. Cozy fireplace. 1-car garage within a fenced-in yard w/ ample space for the fur babies. Handyman-special to add your own touch cosmetically. Good fit for first-time home buyers or investors. Property being sold as - is. Close proximity to major roads I-94, I-75, M-3, & M-102.All measurements to be verified by buyer. I. D. R. B. I. G BATVIA

15. 2026-05-20
    listed $85,000 Active 520-char remark

    Show marketing remark (520 chars)

    This 2-bedroom bungalow offers 3-full bathrooms, (one on each level), spacious living & dining rooms, 2-kitchens on the main-floor & finished basement, as well. Cozy fireplace. 1-car garage within a fenced-in yard w/ ample space for the fur babies. Handyman-special to add your own touch cosmetically. Good fit for first-time home buyers or investors. Property being sold as - is. Close proximity to major roads I-94, I-75, M-3, & M-102.All measurements to be verified by buyer. I. D. R. B. I. G BATVIA

16. 2026-05-20
    listed $85,000 Active 520-char remark

    Show marketing remark (520 chars)

    This 2-bedroom bungalow offers 3-full bathrooms, (one on each level), spacious living & dining rooms, 2-kitchens on the main-floor & finished basement, as well. Cozy fireplace. 1-car garage within a fenced-in yard w/ ample space for the fur babies. Handyman-special to add your own touch cosmetically. Good fit for first-time home buyers or investors. Property being sold as - is. Close proximity to major roads I-94, I-75, M-3, & M-102.All measurements to be verified by buyer. I. D. R. B. I. G BATVIA

17. 1993-01-27
    soldstatus $23,000

ⓘ 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: $1,112 · $93/mo
• Projected year-2 tax: $1,210 · $101/mo
• Expected delta: +$99/yr (+$8/mo · 8.9%)

ⓘ 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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,828
• − Mortgage interest: −$4,761
• − Property taxes: −$1,112
• − Insurance: −$425
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$2,473
• Taxable income: $4,525
• Est. tax owed @ 24.0%: −$1,086
• After-tax cash flow: $4,532/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

+269.6% since first listed

4 events — show timeline

• 2026-05-20 Listed $85,000 MiRealSource-MiMLS
• 2026-05-20 Listed $85,000 REALCOMP
• 2026-05-20 Listed $85,000 SW Michigan MLS
• 1993-01-27 Sold (Public Records) $23,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $1,112 · -55.2% YoY. Source: county tax records.