16510 Lesure St · Detroit, MI 48235

$150,000

3 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 20 Days on market

Built 1941 4,356 sqft lot

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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).

• Cash flow +16.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright, stylish, and move-in ready! Welcome to this beautifully refreshed 3-bedroom bungalow conveniently located near Detroit Medical Center / Grace Hospital with easy access to major roads, shopping, dining, and everyday conveniences. Inside, you'll find updated luxury vinyl plank flooring throughout the main level, brand new carpet upstairs, and fresh updates throughout the home that create a clean, modern feel from the moment you walk in. The spacious layout offers comfortable living areas filled with natural light, an updated kitchen and bath, and a flexible upstairs bedroom that makes a perfect primary suite, home office, or bonus space. Whether you're planning to live in home or investor this is a turnkey home, this property offers an excellent combination of style, functionality, and value. HWT & Furnace to be reinstalled before closing.

Key facts

• 4,356 sq ft lot
• Built 1941
• Listed 20 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Brick and vinyl siding exterior; Block foundation; Built on two levels
• Exterior features: Paved road access; Lot approximately 0.1 acre (36 x 115)

Interior

• Kitchen: Free-standing gas oven; Free-standing refrigerator; Microwave
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); No central air
• Interior features: Wood-burning fireplace in the family room; Unfinished basement; Six total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

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 $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (11.6% below list).
• Recommended offer: $133k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: John R King Academic And Performing Arts Academy (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 814 students, 92% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 291 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $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

• It's been on market 20 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 8 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 $54k; list at $150k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,570 (11.6% below list)

Questions for the listing agent

1. Built in 1941 — 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. 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?
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: 0.88% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $67,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16562 Tracey St	0.07mi	3/1.0	1,244 (+2%)	2mo	$60,000	$48	92
16176 Tracey St	0.12mi	3/2.0	1,270 (+4%)	1mo	$70,000	$55	84
16863 Tracey St	0.24mi	3/2.0	1,200 (-2%)	2mo	$165,000	$138	79
16180 Snowden St	0.24mi	3/1.0	1,137 (-7%)	0mo	$61,000	$54	76
15824 Snowden St	0.36mi	3/1.0	1,127 (-8%)	1mo	$61,000	$54	70
15824 Snowden St	0.36mi	3/1.0	1,127 (-8%)	1mo	$61,000	$54	70
15770 Stansbury St	0.35mi	3/1.0	1,100 (-10%)	1mo	$50,000	$45	66
16516 Appoline St	0.55mi	3/1.0	1,350 (+10%)	1mo	$39,500	$29	56
17161 Ward Ave	0.50mi	3/1.5	1,377 (+12%)	2mo	$194,500	$141	52
17531 Ardmore St	0.64mi	4/2.0 (+1)	1,304 (+6%)	2mo	$195,000	$150	49
17147 Appoline St	0.63mi	3/2.0	1,100 (-10%)	1mo	$170,000	$155	48
18034 Tracey St	0.73mi	4/1.0 (+1)	1,116 (-9%)	2mo	$118,600	$106	45

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.57×
• Total profit: $-18,173
• Equity at exit: $22,365

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-7,061
• Equity at exit: $12,969

Cash invested: $42,000 (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 48235

• Rents YoY: 3.2%
• Active inventory: 291
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,326 high
• Mortgage (P&I): −$787
• Tax from tax record: −$107 /mo · $1,280/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $92

Break-even live

Break-even rent $1,210

Max offer price $150,000

Occupancy floor 88%

Sensitivity live

Price	-10% $176	-5% $134	+0% $92	+5% $49	+10% $7
Rent	-10% $-13	-5% $39	+0% $92	+5% $144	+10% $196
Rate	-1.0pp $167	-0.5pp $130	base $92	+0.5pp $53	+1.0pp $13

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.10mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	45d	1	0.33mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	26d	1	0.45mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.46mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	45d	1	0.48mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	45d	1	0.58mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	14d	1	0.59mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.65mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	18d	1	0.66mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	26d	1	0.67mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,500	$1.49	0d	1	0.71mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	45d	2	0.77mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	45d	1	0.79mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	45d	1	0.79mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	23d	1	0.79mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	0.85mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	18d	1	0.86mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	45d	1	0.88mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	18d	1	0.92mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	6d	1	0.92mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	45d	1	0.92mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	19d	1	0.92mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	26d	1	0.93mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	14d	1	0.93mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	26d	1	0.93mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	18d	1	0.93mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	45d	1	0.94mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	45d	1	0.96mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	6d	1	0.96mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	19d	1	1.01mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	19d	1	1.03mi
18512 Schaefer Hwy Detroit, MI	2.0	1.0	962	$1,200	$1.25	26d	1	1.06mi
15765 Washburn St Unit 15767 Washburn Upper Detroit, MI	2.0	1.0	1093	$950	$0.87	0d	1	1.07mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	45d	1	1.08mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	1.11mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	19d	1	1.14mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	1.15mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	45d	1	1.16mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	22d	1	1.19mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	19d	1	1.19mi

Listing history 27 events

1. 2026-06-17
   statusdays on market $150,000 Pending 20 DOM
2. 2026-06-15
   days on market $150,000 Active 19 DOM
3. 2026-06-13
   days on market $150,000 Active 17 DOM
4. 2026-06-13
   days on market $150,000 Active 16 DOM
5. 2026-06-09
   days on market $150,000 Active 13 DOM
6. 2026-06-08
   days on market $150,000 Active 12 DOM
7. 2026-06-07
   days on market $150,000 Active 11 DOM
8. 2026-06-04
   days on market $150,000 Active 8 DOM
9. 2026-06-03
   days on market $150,000 Active 7 DOM
10. 2026-06-02
    days on market $150,000 Active 6 DOM
11. 2026-06-01
    days on market $150,000 Active 5 DOM
12. 2026-05-31
    days on market $150,000 Active 4 DOM
13. 2026-05-28
    listed $150,000 Active 863-char remark

    Show marketing remark (863 chars)

    Bright, stylish, and move-in ready! Welcome to this beautifully refreshed 3-bedroom bungalow conveniently located near Detroit Medical Center / Grace Hospital with easy access to major roads, shopping, dining, and everyday conveniences. Inside, you'll find updated luxury vinyl plank flooring throughout the main level, brand new carpet upstairs, and fresh updates throughout the home that create a clean, modern feel from the moment you walk in. The spacious layout offers comfortable living areas filled with natural light, an updated kitchen and bath, and a flexible upstairs bedroom that makes a perfect primary suite, home office, or bonus space. Whether you're planning to live in home or investor this is a turnkey home, this property offers an excellent combination of style, functionality, and value. HWT & Furnace to be reinstalled before closing.

14. 2026-05-28
    listed $150,000 Active

    Show marketing remark (863 chars)

    Bright, stylish, and move-in ready! Welcome to this beautifully refreshed 3-bedroom bungalow conveniently located near Detroit Medical Center / Grace Hospital with easy access to major roads, shopping, dining, and everyday conveniences. Inside, you'll find updated luxury vinyl plank flooring throughout the main level, brand new carpet upstairs, and fresh updates throughout the home that create a clean, modern feel from the moment you walk in. The spacious layout offers comfortable living areas filled with natural light, an updated kitchen and bath, and a flexible upstairs bedroom that makes a perfect primary suite, home office, or bonus space. Whether you're planning to live in home or investor this is a turnkey home, this property offers an excellent combination of style, functionality, and value. HWT & Furnace to be reinstalled before closing.

15. 2026-05-27
    historical $150,000 863-char remark

    Show marketing remark (863 chars)

    Bright, stylish, and move-in ready! Welcome to this beautifully refreshed 3-bedroom bungalow conveniently located near Detroit Medical Center / Grace Hospital with easy access to major roads, shopping, dining, and everyday conveniences. Inside, you'll find updated luxury vinyl plank flooring throughout the main level, brand new carpet upstairs, and fresh updates throughout the home that create a clean, modern feel from the moment you walk in. The spacious layout offers comfortable living areas filled with natural light, an updated kitchen and bath, and a flexible upstairs bedroom that makes a perfect primary suite, home office, or bonus space. Whether you're planning to live in home or investor this is a turnkey home, this property offers an excellent combination of style, functionality, and value. HWT & Furnace to be reinstalled before closing.

16. 2026-02-01
    historical
17. 2025-11-12
    status Active
18. 2025-11-12
    status Active
19. 2025-11-01
    historical
20. 2025-11-01
    historical
21. 2025-10-10
    listed $95,000 Active
22. 2025-10-10
    listed $95,000 Active
23. 2025-10-05
    historical
24. 2025-10-05
    historical
25. 2025-09-04
    listed $95,000 Active
26. 2025-09-04
    listed $95,000 Active
27. 2025-02-18
    soldstatus $54,000

ⓘ 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: $1,280 · $107/mo
• Projected year-2 tax: $1,795 · $150/mo
• Expected delta: +$515/yr (+$43/mo · 40.2%)

ⓘ 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 ≥97°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: $15,908
• − Mortgage interest: −$8,402
• − Property taxes: −$1,280
• − Insurance: −$750
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$4,364
• Taxable loss: −$1,433
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $1,442/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): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 2% Hispanic / Latino 1%
• 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

+177.8% since first listed

15 events — show timeline

• 2026-05-28 Listed $150,000 MiRealSource-MiMLS
• 2026-05-28 Listed $150,000 REALCOMP
• 2026-05-27 Coming Soon $150,000 MiRealSource-MiMLS
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2025-11-12 Relisted — MiRealSource-MiMLS
• 2025-11-12 Relisted — REALCOMP
• 2025-11-01 Listing Removed — REALCOMP
• 2025-11-01 Listing Removed — MiRealSource-MiMLS
• 2025-10-10 Listed $95,000 REALCOMP
• 2025-10-10 Listed $95,000 MiRealSource-MiMLS
• 2025-10-05 Listing Removed — MiRealSource-MiMLS
• 2025-10-05 Listing Removed — REALCOMP
• 2025-09-04 Listed $95,000 MiRealSource-MiMLS
• 2025-09-04 Listed $95,000 REALCOMP
• 2025-02-18 Sold (Public Records) $54,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $1,280 · -55.4% YoY. Source: county tax records.