15355 Auburn St · Detroit, MI 48223

$74,900

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 53 Days on market

Built 1937 6,098 sqft lot $77/sqft · 20% below area Est $94k · 20% under

---

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 +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 3 bedroom ranch 1 full bathroom Great starter home or investment property in Minock Park right across the street from Rosedale Park. This property has an updated kitchen and Bath, with newer sliding windows. This property is walking distance to Grand Land shopping center, Huntington bank, Foodland grocery store and eateries. This home is close to the Southfield Freeway and I-96 for easy access to Downtown Detroit. This is a solid property needs some TLC but a great property to live in. Property is sold as is!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1937

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Entry at ground level
• Construction: Block construction; Slab foundation; Built area above grade: 972 square feet
• Exterior features: Paved road access; Lot approximately 0.14 acres (43 x 141.13)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Five total rooms; Ground-level entry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

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: 161 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 33% of the median local income ($45k/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 $518 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 + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $75k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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 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: 1.66% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.15%
• DSCR: 1.90
• GRM: 5.0

CMA / ARV

• ARV (median comp): $93,832
• List price: $74,900
• Delta: -20.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15361 Patton St	0.45mi	3/1.0	950 (-2%)	8mo	$80,000	$84	69
14387 Auburn St	0.64mi	3/1.0	971 (-0%)	3mo	$42,000	$43	68
19431 Lyndon St	0.58mi	2/1.0 (-1)	990 (+2%)	7mo	$36,500	$37	59
15518 Kentfield St	0.32mi	3/1.5	1,092 (+12%)	4mo	$165,500	$152	59
15754 Evergreen Rd	0.29mi	3/1.0	1,091 (+12%)	9mo	$67,000	$61	59
14895 Evergreen Rd	0.33mi	3/1.0	1,079 (+11%)	9mo	$63,000	$58	58
19826 Lyndon St	0.55mi	3/1.0	866 (-11%)	1mo	$21,000	$24	55
15703 Fielding St	0.44mi	3/1.0	871 (-10%)	9mo	$40,000	$46	54
14258 Plainview Ave	0.73mi	3/1.0	918 (-6%)	3mo	$42,000	$46	54
15452 Stout St	0.34mi	3/1.0	1,110 (+14%)	8mo	$152,000	$137	54
15717 Fielding St	0.45mi	3/1.5	867 (-11%)	9mo	$95,000	$110	52
20511 Lyndon St	0.70mi	3/1.0	896 (-8%)	8mo	$40,000	$45	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.49×
• Total profit: $10,381
• Equity at exit: $11,168

10-year hold

• IRR: 21.4%
• Equity multiple: 2.83×
• Total profit: $38,274
• Equity at exit: $6,476

Cash invested: $20,972 (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 48223

• Active inventory: 161
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$393
• Tax from tax record: −$204 /mo · $2,444/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $352

Break-even live

Break-even rent $795

Max offer price $74,900

Occupancy floor 67%

Sensitivity live

Price	-10% $395	-5% $373	+0% $352	+5% $331	+10% $310
Rent	-10% $254	-5% $303	+0% $352	+5% $401	+10% $450
Rate	-1.0pp $390	-0.5pp $371	base $352	+0.5pp $333	+1.0pp $313

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	18d	1	0.15mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	23d	1	0.19mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	25d	1	0.19mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	45d	1	0.22mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	45d	1	0.28mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	6d	1	0.50mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	0.61mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	18d	1	0.62mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	16d	1	0.64mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	0.71mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	45d	1	0.76mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	45d	1	0.98mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	1.01mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	45d	1	1.19mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	45d	1	1.22mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	45d	1	1.25mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	45d	1	1.27mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	18d	1	1.29mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.30mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	19d	1	1.30mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	45d	1	1.30mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	25d	1	1.36mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.37mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.37mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	45d	1	1.38mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.39mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	45d	1	1.40mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	18d	1	1.41mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	18d	1	1.42mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	45d	1	1.43mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	6d	1	1.44mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	6d	1	1.46mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	6d	1	1.47mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	25d	1	1.48mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	13d	1	1.49mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	6d	1	1.49mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	6d	1	1.49mi

Listing history 29 events

1. 2026-06-21
   days on market $74,900 Active 53 DOM
2. 2026-06-18
   days on market $74,900 Active 50 DOM
3. 2026-06-17
   days on market $74,900 Active 49 DOM
4. 2026-06-15
   days on market $74,900 Active 47 DOM
5. 2026-06-13
   days on market $74,900 Active 45 DOM
6. 2026-06-13
   days on market $74,900 Active 44 DOM
7. 2026-06-09
   days on market $74,900 Active 41 DOM
8. 2026-06-08
   days on market $74,900 Active 40 DOM
9. 2026-06-07
   days on market $74,900 Active 39 DOM
10. 2026-06-04
    days on market $74,900 Active 36 DOM
11. 2026-06-03
    days on market $74,900 Active 35 DOM
12. 2026-06-02
    days on market $74,900 Active 34 DOM
13. 2026-06-01
    days on market $74,900 Active 33 DOM
14. 2026-05-31
    days on market $74,900 Active 32 DOM
15. 2026-05-11
    price $74,900 519-char remark

    Show marketing remark (519 chars)

    Cozy 3 bedroom ranch 1 full bathroom Great starter home or investment property in Minock Park right across the street from Rosedale Park. This property has an updated kitchen and Bath, with newer sliding windows. This property is walking distance to Grand Land shopping center, Huntington bank, Foodland grocery store and eateries. This home is close to the Southfield Freeway and I-96 for easy access to Downtown Detroit. This is a solid property needs some TLC but a great property to live in. Property is sold as is!

16. 2026-05-11
    price $74,900 519-char remark

    Show marketing remark (519 chars)

    Cozy 3 bedroom ranch 1 full bathroom Great starter home or investment property in Minock Park right across the street from Rosedale Park. This property has an updated kitchen and Bath, with newer sliding windows. This property is walking distance to Grand Land shopping center, Huntington bank, Foodland grocery store and eateries. This home is close to the Southfield Freeway and I-96 for easy access to Downtown Detroit. This is a solid property needs some TLC but a great property to live in. Property is sold as is!

17. 2026-04-29
    listed $84,900 Active 519-char remark

    Show marketing remark (519 chars)

    Cozy 3 bedroom ranch 1 full bathroom Great starter home or investment property in Minock Park right across the street from Rosedale Park. This property has an updated kitchen and Bath, with newer sliding windows. This property is walking distance to Grand Land shopping center, Huntington bank, Foodland grocery store and eateries. This home is close to the Southfield Freeway and I-96 for easy access to Downtown Detroit. This is a solid property needs some TLC but a great property to live in. Property is sold as is!

18. 2026-04-29
    listed $84,900 Active 519-char remark

    Show marketing remark (519 chars)

    Cozy 3 bedroom ranch 1 full bathroom Great starter home or investment property in Minock Park right across the street from Rosedale Park. This property has an updated kitchen and Bath, with newer sliding windows. This property is walking distance to Grand Land shopping center, Huntington bank, Foodland grocery store and eateries. This home is close to the Southfield Freeway and I-96 for easy access to Downtown Detroit. This is a solid property needs some TLC but a great property to live in. Property is sold as is!

19. 2007-03-05
    historical
20. 2007-01-30
    historical
21. 2007-01-10
    listed $19,900
22. 2007-01-04
    listed $19,900
23. 2006-12-12
    historical
24. 2006-08-08
    listed $24,900
25. 2002-09-25
    soldstatus $44,900
26. 2002-09-25
    soldstatus $41,500
27. 2000-07-11
    soldstatus $375,000
28. 2000-05-11
    soldstatus $44,900
29. 1998-02-17
    soldstatus $22,000

ⓘ 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: $2,444 · $204/mo
• Projected year-2 tax: $2,444 · $204/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 ≥98°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: $14,884
• − Mortgage interest: −$4,196
• − Property taxes: −$2,444
• − Insurance: −$374
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$2,179
• Taxable income: $3,309
• Est. tax owed @ 24.0%: −$794
• After-tax cash flow: $3,432/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -303.41%
• Current HPI: 138.2779
• Rent YoY: —
• 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

+240.5% since first listed

15 events — show timeline

• 2026-05-11 Price Changed $74,900 MiRealSource-MiMLS
• 2026-05-11 Price Changed $74,900 REALCOMP
• 2026-04-29 Listed $84,900 REALCOMP
• 2026-04-29 Listed $84,900 MiRealSource-MiMLS
• 2007-03-05 Listing Removed — MiRealSource-MiMLS
• 2007-01-30 Listing Removed — REALCOMP
• 2007-01-10 Listed $19,900 MiRealSource-MiMLS
• 2007-01-04 Listed $19,900 REALCOMP
• 2006-12-12 Listing Removed — REALCOMP
• 2006-08-08 Listed $24,900 REALCOMP
• 2002-09-25 Sold (Public Records) $41,500 Public Records
• 2002-09-25 Sold (Public Records) $44,900 Public Records
• 2000-07-11 Sold (Public Records) $375,000 Public Records
• 2000-05-11 Sold (Public Records) $44,900 Public Records
• 1998-02-17 Sold (Public Records) $22,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,444 · +0.9% YoY. Source: county tax records.