3015 Van Dyke St · Detroit, MI 48214

$120,000

4 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 32 Days on market

Built 1913 3,049 sqft lot $83/sqft · 24% below area Est $228k · 47% under ↓ 56% since listing

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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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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

Large colonial style home with 4 bedrooms, full basement, hardwood floors, formal dining room and more. This home is located in an emerging area of Detroit. Just minutes from Downtown Detroit, Indian Village and more. Near schools, shopping, public transportation and major freeways.

Key facts

• Near schools
• Formal dining room
• Near shopping

Tags

• FULL BASEMENT
• HARDWOOD FLOORS
• FORMAL DINING ROOM
• NEAR SCHOOLS
• NEAR SHOPPING
• NEAR PUBLIC TRANSPORTATION

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick construction; Brick/mortar foundation; Built above and below grade with finished lower level
• Exterior features: Paved road access; Lot approximately 0.07 acres (30 x 102)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (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: 298 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $1,655/mo this rent would consume 59% of the median local household income ($34k/yr) (locally 1364% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 11 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: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 10.21%
• Cash-on-cash: 14.00%
• DSCR: 1.62
• GRM: 6.0

CMA / ARV

• ARV (median comp): $228,462
• List price: $120,000
• Delta: -47.47%
• 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
2509 Beals St	0.17mi	3/1.5 (-1)	1,500 (+4%)	7mo	$307,000	$205	73
3508 Parker St	0.21mi	3/2.5 (-1)	1,400 (-3%)	3mo	$266,300	$190	71
3869 Burns St	0.53mi	4/1.5	1,505 (+4%)	2mo	$230,000	$153	65
2476 Beals St	0.19mi	3/1.5 (-1)	1,324 (-9%)	6mo	$287,900	$217	65
3739 Van Dyke St	0.38mi	3/1.0 (-1)	1,361 (-6%)	3mo	$60,000	$44	64
3238 Helen St	0.49mi	3/1.0 (-1)	1,475 (+2%)	6mo	$58,425	$40	64
1474 Shipherd St	0.62mi	4/1.5	1,437 (-1%)	4mo	$315,000	$219	64
2270 Parker St	0.32mi	3/1.0 (-1)	1,319 (-9%)	4mo	$217,500	$165	62
2559 Helen St	0.50mi	3/1.5 (-1)	1,508 (+4%)	3mo	$85,000	$56	60
4157 Burns St	0.61mi	4/2.5	1,628 (+12%)	7mo	$320,000	$197	39
4258 Seneca St	0.68mi	3/1.5 (-1)	1,655 (+14%)	1mo	$144,000	$87	37
1831 Helen St St	0.67mi	3/1.5 (-1)	1,230 (-15%)	7mo	$227,500	$185	31

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $5,592
• Equity at exit: $17,892

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $37,325
• Equity at exit: $10,375

Cash invested: $33,600 (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 48214

• Active inventory: 298
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$629
• Tax from tax record: −$236 /mo · $2,836/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $392

Break-even live

Break-even rent $1,159

Max offer price $120,000

Occupancy floor 71%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	0.31mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	43d	1	0.49mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	0.61mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	0.80mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	17d	1	0.86mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	0.89mi
625 Field St Detroit, MI	3.0	1.5	900	$882	$0.98	17d	1	1.00mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	19d	20	1.06mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	1.42mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.45mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	17d	1	1.50mi

Listing history 41 events

1. 2026-06-15
   days on market $120,000 Active 32 DOM
2. 2026-06-13
   days on market $120,000 Active 30 DOM
3. 2026-06-13
   days on market $120,000 Active 29 DOM
4. 2026-06-09
   days on market $120,000 Active 26 DOM
5. 2026-06-08
   days on market $120,000 Active 25 DOM
6. 2026-06-07
   days on market $120,000 Active 24 DOM
7. 2026-06-04
   days on market $120,000 Active 21 DOM
8. 2026-06-03
   days on market $120,000 Active 20 DOM
9. 2026-06-02
   days on market $120,000 Active 19 DOM
10. 2026-06-01
    days on market $120,000 Active 18 DOM
11. 2026-05-31
    days on market $120,000 Active 17 DOM
12. 2026-05-14
    listed $120,000 Active 283-char remark
13. 2026-05-14
    listed $120,000 Active 283-char remark
14. 2026-05-13
    historical
15. 2026-05-13
    historical
16. 2026-02-21
    listed $130,000 Active
17. 2026-02-20
    listed $130,000 Active
18. 2026-02-04
    historical
19. 2026-02-04
    historical
20. 2025-12-07
    price $149,900
21. 2025-12-06
    price $149,900
22. 2025-10-28
    price $180,000
23. 2025-10-27
    price $180,000
24. 2025-05-02
    price $230,000
25. 2025-05-01
    price $230,000
26. 2025-04-28
    listed $275,000 Active
27. 2025-04-28
    listed $275,000 Active
28. 2025-04-17
    historical
29. 2025-04-17
    historical
30. 2024-10-18
    listed $275,000 Active
31. 2024-10-17
    listed $275,000 Active
32. 2023-10-07
    historical
33. 2023-10-07
    historical
34. 2023-08-05
    price $230,000
35. 2023-08-04
    price $230,000
36. 2023-07-05
    listed $275,000 Active
37. 2023-07-05
    listed $275,000 Active
38. 2023-07-05
    historical
39. 2023-07-05
    listed $275,000 Active
40. 2023-07-03
    historical
41. 2023-07-03
    historical

ⓘ 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: $2,836 · $236/mo
• Projected year-2 tax: $2,836 · $236/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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,860
• − Mortgage interest: −$6,722
• − Property taxes: −$2,836
• − Insurance: −$600
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$3,491
• Taxable income: $3,034
• Est. tax owed @ 24.0%: −$728
• After-tax cash flow: $3,974/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

-56.4% since first listed

32 events — show timeline

• 2026-06-17 Listing Removed — REALCOMP
• 2026-06-17 Listing Removed — MiRealSource-MiMLS
• 2026-05-14 Listed $120,000 REALCOMP
• 2026-05-14 Listed $120,000 MiRealSource-MiMLS
• 2026-05-13 Listing Removed — MiRealSource-MiMLS
• 2026-05-13 Listing Removed — REALCOMP
• 2026-02-21 Listed $130,000 REALCOMP
• 2026-02-20 Listed $130,000 MiRealSource-MiMLS
• 2026-02-04 Listing Removed — MiRealSource-MiMLS
• 2026-02-04 Listing Removed — REALCOMP
• 2025-12-07 Price Changed $149,900 MiRealSource-MiMLS
• 2025-12-06 Price Changed $149,900 REALCOMP
• 2025-10-28 Price Changed $180,000 MiRealSource-MiMLS
• 2025-10-27 Price Changed $180,000 REALCOMP
• 2025-05-02 Price Changed $230,000 MiRealSource-MiMLS
• 2025-05-01 Price Changed $230,000 REALCOMP
• 2025-04-28 Listed $275,000 REALCOMP
• 2025-04-28 Listed $275,000 MiRealSource-MiMLS
• 2025-04-17 Listing Removed — REALCOMP
• 2025-04-17 Listing Removed — MiRealSource-MiMLS
• 2024-10-18 Listed $275,000 REALCOMP
• 2024-10-17 Listed $275,000 MiRealSource-MiMLS
• 2023-10-07 Listing Removed — MiRealSource-MiMLS
• 2023-10-07 Listing Removed — REALCOMP
• 2023-08-05 Price Changed $230,000 MiRealSource-MiMLS
• 2023-08-04 Price Changed $230,000 REALCOMP
• 2023-07-05 Listed $275,000 MiRealSource-MiMLS
• 2023-07-05 Listed $275,000 REALCOMP
• 2023-07-05 Coming Soon — REALCOMP
• 2023-07-05 Listed $275,000 REALCOMP
• 2023-07-03 Coming Soon — MiRealSource-MiMLS
• 2023-07-03 Coming Soon — REALCOMP

Property tax history

+15.6%/yr

Latest (2025): $2,836 · -0.9% YoY. Source: county tax records.