15613 Seymour St · Detroit, MI 48205

$60,000

3 bd · 1.0 ba · 1,197 sqft · SingleFamily public records · 82 Days on market

Built 1941 5,663 sqft lot Est $89k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Beautifully updated brick bungalow featuring fresh interior paint, new flooring throughout, brand-new interior doors, some newer windows, and major mechanical upgrades including a new furnace and new water heater. This move-in ready home offers 3 bedrooms, 1 full bath, and two additional lavatories, plus a spacious 20 × 20 upper bedroom. Property includes an unfinished basement and a 2-car detached garage on a deep 40 × 150 lot. A solid, well-maintained home perfect for owner-occupants or investors.

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 1941

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; One and one-half stories; Ground-level entry
• Construction: Brick construction
• Exterior features: Paved road access; Lot dimensions approximately 40 x 150 (0.13 acres)

Interior

• Bedrooms: Total rooms: 6
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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 (+1.3%/yr); 373 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% 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 $415 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 + 1.3% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y 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 3.1% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.19% ✓
• Cap rate: 17.12%
• Cash-on-cash: 38.67%
• DSCR: 2.72
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $88,578
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15411 Young St St	0.26mi	3/1.5	1,240 (+4%)	2mo	$95,000	$77	79
15419 Young St	0.25mi	3/1.0	1,250 (+4%)	3mo	$54,500	$44	79
12519 Riad St	0.34mi	3/1.0	1,135 (-5%)	0mo	$100,000	$88	76
15416 Eastwood St	0.46mi	3/1.0	1,211 (+1%)	2mo	$70,000	$58	75
11742 Whitehill St	0.40mi	3/1.5	1,228 (+3%)	1mo	$61,000	$50	74
15469 Troester St	0.10mi	3/1.0	1,375 (+15%)	1mo	$60,000	$44	70
15430 Mapleridge St	0.15mi	4/1.5 (+1)	1,320 (+10%)	1mo	$123,000	$93	68
15309 Mapleridge St	0.21mi	3/1.5	1,348 (+13%)	3mo	$116,000	$86	65
11960 Rossiter St	0.68mi	3/1.0	1,164 (-3%)	2mo	$84,000	$72	62
15256 Fordham St	0.53mi	3/1.5	1,099 (-8%)	3mo	$60,000	$55	57
12893 Payton St	0.51mi	3/1.0	1,020 (-15%)	1mo	$75,000	$74	51
10904 N Mogul St	0.75mi	3/1.0	1,045 (-13%)	0mo	$113,000	$108	44

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: 32.8%
• Equity multiple: 2.35×
• Total profit: $22,659
• Equity at exit: $8,946

10-year hold

• IRR: 38.8%
• Equity multiple: 4.32×
• Total profit: $55,803
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$315
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $541

Break-even live

Break-even rent $628

Max offer price $60,000

Occupancy floor 54%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	0.15mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.39mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	0.43mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	0.48mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	17d	1	0.49mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.50mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	0.57mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.57mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	43d	1	0.60mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	11d	1	0.62mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	0.65mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	0.66mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	10d	1	0.67mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	12d	1	0.69mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	43d	1	0.70mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.73mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.73mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	0.73mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	12d	1	0.74mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	0.74mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.75mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.76mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.76mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	0.81mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.83mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	0.91mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	0.92mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	0.95mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	0.97mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	0.98mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.01mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	17d	1	1.01mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	1.01mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.02mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.02mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.02mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	1.03mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	1.04mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	1.05mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	1.05mi

Listing history 38 events

1. 2026-06-17
   statusdays on market $60,000 Pending 82 DOM
2. 2026-06-15
   days on market $60,000 Active 81 DOM
3. 2026-06-13
   days on market $60,000 Active 79 DOM
4. 2026-06-13
   days on market $60,000 Active 78 DOM
5. 2026-06-09
   days on market $60,000 Active 75 DOM
6. 2026-06-08
   days on market $60,000 Active 74 DOM
7. 2026-06-07
   days on market $60,000 Active 73 DOM
8. 2026-06-04
   days on market $60,000 Active 70 DOM
9. 2026-06-03
   days on market $60,000 Active 69 DOM
10. 2026-06-02
    days on market $60,000 Active 68 DOM
11. 2026-06-01
    days on market $60,000 Active 67 DOM
12. 2026-05-31
    days on market $60,000 Active 66 DOM
13. 2026-04-04
    historical Accepting Backup Offers 516-char remark

    Show marketing remark (516 chars)

    Beautifully updated brick bungalow featuring fresh interior paint, new flooring throughout, brand-new interior doors, some newer windows, and major mechanical upgrades including a new furnace and new water heater. This move-in ready home offers 3 bedrooms, 1 full bath, and two additional lavatories, plus a spacious 20 × 20 upper bedroom. Property includes an unfinished basement and a 2-car detached garage on a deep 40 × 150 lot. A solid, well-maintained home perfect for owner-occupants or investors.

14. 2026-04-04
    historical Active Under Contract

    Show marketing remark (516 chars)

    Beautifully updated brick bungalow featuring fresh interior paint, new flooring throughout, brand-new interior doors, some newer windows, and major mechanical upgrades including a new furnace and new water heater. This move-in ready home offers 3 bedrooms, 1 full bath, and two additional lavatories, plus a spacious 20 × 20 upper bedroom. Property includes an unfinished basement and a 2-car detached garage on a deep 40 × 150 lot. A solid, well-maintained home perfect for owner-occupants or investors.

15. 2026-03-26
    listed $60,000 Active 516-char remark

    Show marketing remark (516 chars)

    Beautifully updated brick bungalow featuring fresh interior paint, new flooring throughout, brand-new interior doors, some newer windows, and major mechanical upgrades including a new furnace and new water heater. This move-in ready home offers 3 bedrooms, 1 full bath, and two additional lavatories, plus a spacious 20 × 20 upper bedroom. Property includes an unfinished basement and a 2-car detached garage on a deep 40 × 150 lot. A solid, well-maintained home perfect for owner-occupants or investors.

16. 2026-03-26
    listed $60,000 Active

    Show marketing remark (516 chars)

    Beautifully updated brick bungalow featuring fresh interior paint, new flooring throughout, brand-new interior doors, some newer windows, and major mechanical upgrades including a new furnace and new water heater. This move-in ready home offers 3 bedrooms, 1 full bath, and two additional lavatories, plus a spacious 20 × 20 upper bedroom. Property includes an unfinished basement and a 2-car detached garage on a deep 40 × 150 lot. A solid, well-maintained home perfect for owner-occupants or investors.

17. 2025-11-13
    historical
18. 2025-09-22
    listed $49,000 Active
19. 2025-09-22
    listed $49,000 Active
20. 2025-09-22
    historical
21. 2025-09-22
    historical
22. 2025-09-11
    price $49,000
23. 2025-09-10
    price $49,000
24. 2025-07-26
    price $55,000
25. 2025-07-25
    price $55,000
26. 2025-06-19
    status Active
27. 2025-06-19
    historical
28. 2025-03-21
    listed $65,000 Active
29. 2025-03-21
    historical
30. 2025-03-20
    listed $65,000 Active
31. 2025-03-20
    historical
32. 2024-10-24
    price $65,000
33. 2024-10-24
    price $65,000
34. 2024-09-20
    listed $70,000 Active
35. 2024-09-20
    listed $70,000 Active
36. 2020-10-23
    soldstatus $62,000
37. 2020-09-24
    soldstatus $46,700
38. 1991-05-23
    soldstatus $26,900

ⓘ 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: $1,878 · $156/mo
• Projected year-2 tax: $1,878 · $156/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $15,760
• − Mortgage interest: −$3,361
• − Property taxes: −$1,878
• − Insurance: −$300
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$1,745
• Taxable income: $5,954
• Est. tax owed @ 24.0%: −$1,429
• After-tax cash flow: $5,068/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

+123.0% since first listed

26 events — show timeline

• 2026-04-04 Contingent — MiRealSource-MiMLS
• 2026-04-04 Contingent — REALCOMP
• 2026-03-26 Listed $60,000 REALCOMP
• 2026-03-26 Listed $60,000 MiRealSource-MiMLS
• 2025-11-13 Listing Removed — MiRealSource-MiMLS
• 2025-09-22 Listed $49,000 REALCOMP
• 2025-09-22 Listing Removed — REALCOMP
• 2025-09-22 Listing Removed — MiRealSource-MiMLS
• 2025-09-22 Listed $49,000 MiRealSource-MiMLS
• 2025-09-11 Price Changed $49,000 MiRealSource-MiMLS
• 2025-09-10 Price Changed $49,000 REALCOMP
• 2025-07-26 Price Changed $55,000 MiRealSource-MiMLS
• 2025-07-25 Price Changed $55,000 REALCOMP
• 2025-06-19 Relisted — REALCOMP
• 2025-06-19 Listing Removed — REALCOMP
• 2025-03-21 Listed $65,000 MiRealSource-MiMLS
• 2025-03-21 Listing Removed — REALCOMP
• 2025-03-20 Listing Removed — MiRealSource-MiMLS
• 2025-03-20 Listed $65,000 REALCOMP
• 2024-10-24 Price Changed $65,000 MiRealSource-MiMLS
• 2024-10-24 Price Changed $65,000 REALCOMP
• 2024-09-20 Listed $70,000 MiRealSource-MiMLS
• 2024-09-20 Listed $70,000 REALCOMP
• 2020-10-23 Sold (Public Records) $62,000 Public Records
• 2020-09-24 Sold (Public Records) $46,700 Public Records
• 1991-05-23 Sold (Public Records) $26,900 Public Records

Property tax history

-1.2%/yr

Latest (2025): $1,878 · -54.2% YoY. Source: county tax records.