15825 Pinehurst St · Detroit, MI 48238

$64,900

2 bd · 1.0 ba · 846 sqft · SingleFamily public records · 68 Days on market

Built 1940 3,049 sqft lot $77/sqft · 33% above area Est $49k · 33% over

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Why this score? — see what drove the C+ 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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming in character and rich with potential, this delightful 2-bedroom, 1-bath bungalow invites you to reimagine and make it your own. Nestled with a warm, welcoming presence, the home offers a cozy and intimate layout ideal for comfortable everyday living or a thoughtful investment opportunity. Whether you’re a discerning homeowner seeking an affordable entry into homeownership or an investor looking to unlock value, this residence presents a rare blend of charm, flexibility, and potential. With vision and a light refresh, this quaint retreat can truly shine. Schedule your showing today!

Key facts

• 3,049 sq ft lot
• Built 1940
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 fast (+6.1%/yr); 346 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); 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 ($33k/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 $449 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 + 6.1% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 9y 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 2.9% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1940 — 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: 1.77% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.26%
• DSCR: 2.12
• GRM: 4.7

CMA / ARV

• ARV (median comp): $48,967
• List price: $64,900
• Delta: 32.54%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15856 Monte Vista St	0.04mi	3/1.0 (+1)	848 (+0%)	3mo	$59,900	$71	90
16580 Ward Ave	0.50mi	2/1.0	825 (-2%)	1mo	$48,000	$58	71
15756 Meyers Rd	0.16mi	2/1.0	946 (+12%)	4mo	$65,000	$69	70
15754 Meyers Rd	0.16mi	2/1.0	946 (+12%)	4mo	$65,000	$69	70
15732 Manor St	0.14mi	3/1.0 (+1)	930 (+10%)	3mo	$50,000	$54	69
16510 Littlefield St	0.55mi	2/1.0	861 (+2%)	4mo	$45,000	$52	68
15840 Tracey St	0.69mi	2/1.0	858 (+1%)	4mo	$70,000	$82	62
15735 Cheyenne St	0.45mi	3/1.0 (+1)	873 (+3%)	10mo	$66,000	$76	60
16135 Cherrylawn St	0.63mi	3/1.0 (+1)	816 (-4%)	7mo	$70,000	$86	54
15775 Indiana St	0.45mi	3/1.5 (+1)	967 (+14%)	1mo	$45,000	$47	47
16585 Washburn St	0.45mi	3/1.0 (+1)	968 (+14%)	8mo	$75,000	$77	43
16937 Birwood St	0.58mi	2/1.0	960 (+14%)	13mo	$55,000	$57	40

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.97×
• Total profit: $17,638
• Equity at exit: $9,677

10-year hold

• IRR: 32.8%
• Equity multiple: 4.48×
• Total profit: $63,321
• Equity at exit: $5,611

Cash invested: $18,172 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,146 high
• Mortgage (P&I): −$340
• Tax from tax record: −$155 /mo · $1,863/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $382

Break-even live

Break-even rent $662

Max offer price $64,900

Occupancy floor 62%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	0.08mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.18mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.18mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	0.30mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	0.31mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.32mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	0.33mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.40mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	44d	1	0.43mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.47mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.52mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.54mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	0.63mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	17d	1	0.66mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	0.69mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.77mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.80mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.81mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.86mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.86mi
14881 Schaefer Hwy Detroit, MI	1.0	1.0	530	$782	$1.48	2d	4	0.90mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.93mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.93mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	0.96mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	12d	1	1.04mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.09mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.09mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.10mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	1.14mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	17d	1	1.19mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.25mi
18461 Washburn St Detroit, MI	1.0	1.0	690	$775	$1.12	44d	1	1.33mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.34mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	1.34mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	1.36mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	1.39mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	1.41mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	1.42mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	1.42mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	1.42mi

Listing history 50 events

1. 2026-06-18
   days on market $64,900 Active 68 DOM
2. 2026-06-17
   days on market $64,900 Active 67 DOM
3. 2026-06-15
   days on market $64,900 Active 65 DOM
4. 2026-06-13
   days on market $64,900 Active 63 DOM
5. 2026-06-13
   days on market $64,900 Active 62 DOM
6. 2026-06-09
   days on market $64,900 Active 59 DOM
7. 2026-06-08
   days on market $64,900 Active 58 DOM
8. 2026-06-07
   days on market $64,900 Active 57 DOM
9. 2026-06-04
   pricedays on market $64,900 Active 54 DOM
10. 2026-06-03
    days on market $64,999 Active 53 DOM
11. 2026-06-02
    days on market $64,999 Active 52 DOM
12. 2026-06-01
    days on market $64,999 Active 51 DOM
13. 2026-05-31
    days on market $64,999 Active 50 DOM
14. 2026-04-11
    listed $64,999 Active 603-char remark

    Show marketing remark (603 chars)

    Charming in character and rich with potential, this delightful 2-bedroom, 1-bath bungalow invites you to reimagine and make it your own. Nestled with a warm, welcoming presence, the home offers a cozy and intimate layout ideal for comfortable everyday living or a thoughtful investment opportunity. Whether you’re a discerning homeowner seeking an affordable entry into homeownership or an investor looking to unlock value, this residence presents a rare blend of charm, flexibility, and potential. With vision and a light refresh, this quaint retreat can truly shine. Schedule your showing today!

15. 2026-04-07
    listed $64,999 Active 597-char remark

    Show marketing remark (597 chars)

    Charming in character and rich with potential, this delightful 2-bedroom, 1-bath bungalow invites you to reimagine and make it your own. Nestled with a warm, welcoming presence, the home offers a cozy and intimate layout ideal for comfortable everyday living or a thoughtful investment opportunity. Whether you're a discerning homeowner seeking an affordable entry into homeownership or an investor looking to unlock value, this residence presents a rare blend of charm, flexibility, and potential. With vision and a light refresh, this quaint retreat can truly shine. Schedule your showing today!

16. 2026-04-06
    historical
17. 2026-04-06
    historical
18. 2026-01-22
    listed $65,000 Active
19. 2026-01-22
    listed $65,000 Active
20. 2022-12-19
    soldstatus $86,330
21. 2022-08-22
    soldstatus $35,000 Sold
22. 2022-08-22
    soldstatus $35,000 Closed
23. 2022-08-04
    status Pending
24. 2022-08-04
    status Pending
25. 2022-08-02
    listed $29,900 Active
26. 2022-07-27
    listed $29,900 Active
27. 2022-01-28
    soldstatus $18,000 Sold
28. 2022-01-28
    soldstatus $18,000 Closed
29. 2022-01-21
    status Pending
30. 2022-01-21
    status Pending
31. 2022-01-11
    status Active
32. 2022-01-11
    status Active
33. 2021-12-27
    status Pending
34. 2021-12-17
    status Pending
35. 2021-12-12
    historical Accepting Backup Offers
36. 2021-12-12
    historical Accepting Backup Offers
37. 2021-12-07
    status Active
38. 2021-12-07
    status Active
39. 2021-10-05
    status Pending
40. 2021-10-05
    status Pending
41. 2021-09-06
    price $20,000
42. 2021-09-06
    price $20,000
43. 2021-07-23
    listed $25,000 Active
44. 2021-07-23
    listed $25,000 Active
45. 2019-11-19
    historical
46. 2019-11-18
    historical
47. 2018-09-06
    price $12,500
48. 2018-09-05
    price $12,500
49. 2018-06-22
    status Active
50. 2018-06-19
    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: $1,863 · $155/mo
• Projected year-2 tax: $1,863 · $155/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 ≥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: $13,748
• − Mortgage interest: −$3,635
• − Property taxes: −$1,863
• − Insurance: −$324
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$1,888
• Taxable income: $3,838
• Est. tax owed @ 24.0%: −$921
• After-tax cash flow: $3,668/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+242.1% since first listed

43 events — show timeline

• 2026-04-11 Listed $64,999 REALCOMP
• 2026-04-07 Listed $64,999 MiRealSource-MiMLS
• 2026-04-06 Listing Removed — REALCOMP
• 2026-04-06 Listing Removed — MiRealSource-MiMLS
• 2026-01-22 Listed $65,000 REALCOMP
• 2026-01-22 Listed $65,000 MiRealSource-MiMLS
• 2022-12-19 Sold (Public Records) $86,330 Public Records
• 2022-08-22 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2022-08-22 Sold (MLS) $35,000 REALCOMP
• 2022-08-04 Pending — MiRealSource-MiMLS
• 2022-08-04 Pending — REALCOMP
• 2022-08-02 Listed $29,900 REALCOMP
• 2022-07-27 Listed $29,900 MiRealSource-MiMLS
• 2022-01-28 Sold (MLS) $18,000 MiRealSource-MiMLS
• 2022-01-28 Sold (MLS) $18,000 REALCOMP
• 2022-01-21 Pending — MiRealSource-MiMLS
• 2022-01-21 Pending — REALCOMP
• 2022-01-11 Relisted — MiRealSource-MiMLS
• 2022-01-11 Relisted — REALCOMP
• 2021-12-27 Pending — MiRealSource-MiMLS
• 2021-12-17 Pending — REALCOMP
• 2021-12-12 Contingent — MiRealSource-MiMLS
• 2021-12-12 Contingent — REALCOMP
• 2021-12-07 Relisted — MiRealSource-MiMLS
• 2021-12-07 Relisted — REALCOMP
• 2021-10-05 Pending — MiRealSource-MiMLS
• 2021-10-05 Pending — REALCOMP
• 2021-09-06 Price Changed $20,000 MiRealSource-MiMLS
• 2021-09-06 Price Changed $20,000 REALCOMP
• 2021-07-23 Listed $25,000 MiRealSource-MiMLS
• 2021-07-23 Listed $25,000 REALCOMP
• 2019-11-19 Listing Removed — REALCOMP
• 2019-11-18 Listing Removed — MiRealSource-MiMLS
• 2018-09-06 Price Changed $12,500 MiRealSource-MiMLS
• 2018-09-05 Price Changed $12,500 REALCOMP
• 2018-06-22 Relisted — REALCOMP
• 2018-06-19 Listing Removed — REALCOMP
• 2018-05-11 Price Changed $13,500 MiRealSource-MiMLS
• 2018-05-11 Price Changed $13,500 REALCOMP
• 2018-02-10 Price Changed $17,500 MiRealSource-MiMLS
• 2018-02-10 Price Changed $17,500 REALCOMP
• 2017-11-27 Listed $19,000 MiRealSource-MiMLS
• 2017-11-27 Listed $19,000 REALCOMP

Property tax history

+1.1%/yr

Latest (2025): $1,863 · -9.9% YoY. Source: county tax records.