15953-57 Kramer St · Detroit, MI 48228

$48,500

4 bd · 1.5 ba · 1,697 sqft · MultiFamily public records · 129 Days on market

Built 1949 5,227 sqft lot $29/sqft · 51% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Must see 2 unit duplex, 2 bedrooms, 1 bath each and a basement. Move in ready. Conveniently located in well maintained neighborhood with plenty of shopping, restaurants and public transportation. Co-listing agent is also co-owner. Co-owner is selling her 50% interest of the total ownership of both units 15953-57 Kramer. . Buyer shall accept a Tenant in Common Deed. Property is City Certified. Being sold "AS IS". Buyer and Buyer's agent to verify ALL information. 48 HOUR NOTICE TO SHOW BY APPOINTMENT ONLY.

Key facts

• Plenty of shopping
• 2 unit duplex
• City certified

Tags

• 2 UNIT DUPLEX
• WELL MAINTAINED NEIGHBORHOOD
• PLENTY OF SHOPPING
• PUBLIC TRANSPORTATION
• CITY CERTIFIED

🏷️ Possibly a rental listed for sale. The $48,500 price doesn't fit this home's estimated sale value (~$98,920) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $48k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $771/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 44.4% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,429/mo this rent would consume 95% of the median local household income ($31k/yr) (locally 4144% 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 $335 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask is 5606% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $24k; list at $48k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 5.01% ✓
• Cap rate: 44.44%
• Cash-on-cash: 136.24%
• DSCR: 7.06
• GRM: 1.7

CMA / ARV

• ARV (median comp): $98,920
• List price: $48,500
• Delta: -50.97%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8916 Prevost St	0.09mi	4/2.0	1,680 (-1%)	6mo	$100,000	$60	87
16023 Kramer St	0.03mi	4/2.0	1,697 (0%)	12mo	$115,000	$68	86

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.13×
• Total profit: $83,283
• Equity at exit: $7,232

10-year hold

• IRR: —
• Equity multiple: 13.64×
• Total profit: $171,711
• Equity at exit: $4,193

Cash invested: $13,580 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,429 high
• Mortgage (P&I): −$254
• Tax from tax record: −$103 /mo · $1,231/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $1,542

Break-even live

Break-even rent $477

Max offer price $48,500

Occupancy floor 32%

Sensitivity live

Price	-10% $1,569	-5% $1,556	+0% $1,542	+5% $1,528	+10% $1,514
Rent	-10% $1,350	-5% $1,446	+0% $1,542	+5% $1,638	+10% $1,734
Rate	-1.0pp $1,566	-0.5pp $1,554	base $1,542	+0.5pp $1,529	+1.0pp $1,516

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,430
Total (2 units)			$2,429

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: $12,125
• Closing costs: $1,455
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9220 Mansfield St Detroit, MI	3.0	1.0	1200	$1,300	$1.08	44d	1	0.28mi
8331 Whitcomb St Detroit, MI	4.0	1.0	1342	$1,350	$1.01	22d	1	0.44mi
9589 Mansfield St Detroit, MI	4.0	1.0	1250	$1,500	$1.20	5d	1	0.53mi
8047 Robson St Detroit, MI	3.0	2.0	1184	$1,200	$1.01	44d	1	0.73mi
9501 Lauder St Detroit, MI	3.0	2.0	1152	$1,350	$1.17	44d	1	0.78mi
10030 Abington Ave Detroit, MI	4.0	2.0	1350	$1,475	$1.09	11d	1	0.85mi
11397 Whitcomb St Detroit, MI	3.0	1.0	1070	$1,400	$1.31	17d	1	0.94mi
7312 Mansfield St Detroit, MI	4.0	1.0	1300	$1,400	$1.08	17d	1	0.95mi
11641 Mansfield St Unit 2 Detroit, MI	3.0	1.0	1449	$1,300	$0.90	44d	1	0.99mi
11634 Sussex St Detroit, MI	3.0	1.0	1091	$1,326	$1.22	25d	1	1.07mi
11431 Marlowe St Detroit, MI	3.0	1.0	1172	$1,400	$1.19	17d	1	1.13mi
6761 Memorial Ave Detroit, MI	3.0	1.0	1060	$1,100	$1.04	25d	1	1.35mi
6474 Saint Marys St Detroit, MI	3.0	1.0	1237	$1,350	$1.09	44d	1	1.39mi
11741 Penrod St Detroit, MI	3.0	1.0	1124	$1,400	$1.25	17d	1	1.43mi

Listing history 30 events

1. 2026-06-18
   days on market $48,500 Active 129 DOM
2. 2026-06-17
   days on market $48,500 Active 128 DOM
3. 2026-06-15
   days on market $48,500 Active 126 DOM
4. 2026-06-13
   days on market $48,500 Active 124 DOM
5. 2026-06-13
   days on market $48,500 Active 123 DOM
6. 2026-06-09
   days on market $48,500 Active 120 DOM
7. 2026-06-08
   days on market $48,500 Active 119 DOM
8. 2026-06-07
   days on market $48,500 Active 118 DOM
9. 2026-06-04
   days on market $48,500 Active 115 DOM
10. 2026-06-03
    days on market $48,500 Active 114 DOM
11. 2026-06-01
    days on market $48,500 Active 112 DOM
12. 2026-05-31
    days on market $48,500 Active 111 DOM
13. 2026-03-26
    historical $850
14. 2026-03-16
    price $48,500 520-char remark

    Show marketing remark (521 chars)

    Must see 2 unit duplex, 2 bedrooms, 1 bath each and a basement. Move in ready. Conveniently located in well maintained neighborhood with plenty of shopping, restaurants and public transportation. Co-listing agent is also co-owner. Co-owner is selling her 50% interest of the total ownership of both units 15953-57 Kramer. . Buyer shall accept a Tenant in Common Deed. Property is City Certified. Being sold "AS IS". Buyer and Buyer's agent to verify ALL information. 48 HOUR NOTICE TO SHOW BY APPOINTMENT ONLY.

15. 2026-03-16
    price $48,500 521-char remark

    Show marketing remark (521 chars)

    Must see 2 unit duplex, 2 bedrooms, 1 bath each and a basement. Move in ready. Conveniently located in well maintained neighborhood with plenty of shopping, restaurants and public transportation. Co-listing agent is also co-owner. Co-owner is selling her 50% interest of the total ownership of both units 15953-57 Kramer. . Buyer shall accept a Tenant in Common Deed. Property is City Certified. Being sold "AS IS". Buyer and Buyer's agent to verify ALL information. 48 HOUR NOTICE TO SHOW BY APPOINTMENT ONLY.

16. 2026-02-17
    listed $850
17. 2026-02-17
    historical $850
18. 2026-02-17
    listed $850
19. 2026-02-09
    listed $50,000 Active 521-char remark

    Show marketing remark (520 chars)

    Must see 2 unit duplex, 2 bedrooms, 1 bath each and a basement. Move in ready. Conveniently located in well maintained neighborhood with plenty of shopping, restaurants and public transportation. Co-listing agent is also co-owner. Co-owner is selling her 50% interest of the total ownership of both units 15953-57 Kramer. . Buyer shall accept a Tenant in Common Deed. Property is City Certified. Being sold "AS IS". Buyer and Buyer's agent to verify ALL information. 48 HOUR NOTICE TO SHOW BY APPOINTMENT ONLY.

20. 2026-02-09
    listed $50,000 Active 520-char remark

    Show marketing remark (520 chars)

    Must see 2 unit duplex, 2 bedrooms, 1 bath each and a basement. Move in ready. Conveniently located in well maintained neighborhood with plenty of shopping, restaurants and public transportation. Co-listing agent is also co-owner. Co-owner is selling her 50% interest of the total ownership of both units 15953-57 Kramer. . Buyer shall accept a Tenant in Common Deed. Property is City Certified. Being sold "AS IS". Buyer and Buyer's agent to verify ALL information. 48 HOUR NOTICE TO SHOW BY APPOINTMENT ONLY.

21. 2023-08-14
    historical
22. 2012-10-16
    historical
23. 2012-09-19
    historical
24. 2012-09-16
    listed $550
25. 2012-09-16
    listed $500
26. 2007-08-18
    historical
27. 2007-05-22
    listed $48,350
28. 2006-08-30
    historical
29. 2006-01-02
    listed $114,900
30. 2002-07-02
    soldstatus $24,500

ⓘ 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: $1,231 · $103/mo
• Projected year-2 tax: $1,231 · $103/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 · 14 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: $29,148
• − Mortgage interest: −$2,717
• − Property taxes: −$1,231
• − Insurance: −$242
• − Repairs & maintenance: −$2,332
• − Management: −$2,332
• − Depreciation: −$1,411
• Taxable income: $18,883
• Est. tax owed @ 24.0%: −$4,532
• After-tax cash flow: $13,970/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+98.0% since first listed

18 events — show timeline

• 2026-03-26 Rental Removed $850 REALCOMP
• 2026-03-16 Price Changed $48,500 MiRealSource-MiMLS
• 2026-03-16 Price Changed $48,500 REALCOMP
• 2026-02-17 Listed for Rent $850 REALCOMP
• 2026-02-17 Rental Removed $850 REALSOURCE
• 2026-02-17 Listed for Rent $850 REALSOURCE
• 2026-02-09 Listed $50,000 REALCOMP
• 2026-02-09 Listed $50,000 MiRealSource-MiMLS
• 2023-08-14 Rental Removed — REALSOURCE
• 2012-10-16 Listing Removed — MiRealSource-MiMLS
• 2012-09-19 Listing Removed — MiRealSource-MiMLS
• 2012-09-16 Listed $500 MiRealSource-MiMLS
• 2012-09-16 Listed $550 MiRealSource-MiMLS
• 2007-08-18 Listing Removed — REALCOMP
• 2007-05-22 Listed $48,350 REALCOMP
• 2006-08-30 Listing Removed — MiRealSource-MiMLS
• 2006-01-02 Listed $114,900 MiRealSource-MiMLS
• 2002-07-02 Sold (Public Records) $24,500 Public Records

Property tax history

-2.0%/yr

Latest (2025): $1,231 · -37.1% YoY. Source: county tax records.