15096 Heyden St · Detroit, MI 48223

$79,900

3 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 35 Days on market

Built 1946 4,792 sqft lot Est $116k · 31% under

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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 +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

Very well maintained, three bedroom, 1.5 bathroom, brick colonial located near Stoepel Park, shops and food establishments. Basement and large, fenced in yard for additional storage. Immediate rental income with a reliable, long term tenant in place and paying all utilities, Tenant will be staying in property. DO NOT DISTURB THE TENANTS. BATVAI.

Key facts

• Brick colonial
• Fenced in yard
• 4,792 sq ft lot

Tags

• BRICK COLONIAL
• FENCED IN YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Sewer available; Water available
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Aluminum siding and brick exterior; Block foundation
• Exterior features: Paved road access; Lot roughly 40 x 116 (0.11 acres)

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Six total rooms

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$115,710) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 158 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 36% 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 $552 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1946 — 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: 1.66% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.67%
• DSCR: 2.10
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $115,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15751 Vaughan St	0.41mi	3/1.5	1,244 (+2%)	2mo	$110,000	$88	74
15452 Stout St	0.28mi	3/1.0	1,110 (-9%)	8mo	$152,000	$137	65
15776 Vaughan St	0.45mi	3/1.5	1,255 (+3%)	9mo	$165,000	$131	65
15776 Evergreen Rd	0.46mi	3/1.0	1,122 (-8%)	4mo	$60,000	$53	62
15518 Kentfield St	0.33mi	3/1.5	1,092 (-10%)	4mo	$165,500	$152	62
19400 Lyndon St	0.52mi	3/2.0	1,169 (-4%)	9mo	$70,000	$60	58
15836 Patton St	0.54mi	3/1.0	1,122 (-8%)	6mo	$42,500	$38	57
14598 Heyden St	0.31mi	3/1.0	1,400 (+15%)	5mo	$132,500	$95	56
15754 Evergreen Rd	0.43mi	3/1.0	1,091 (-10%)	9mo	$67,000	$61	55
14840 Artesian St	0.65mi	3/2.5	1,300 (+7%)	0mo	$289,000	$222	52
14392 Warwick St	0.73mi	2/1.0 (-1)	1,333 (+9%)	6mo	$145,000	$109	40
14171 Plainview Ave	0.69mi	3/1.0	1,040 (-15%)	7mo	$41,000	$39	38

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: 18.1%
• Equity multiple: 1.73×
• Total profit: $16,394
• Equity at exit: $11,913

10-year hold

• IRR: 26.5%
• Equity multiple: 3.33×
• Total profit: $52,177
• Equity at exit: $6,908

Cash invested: $22,372 (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: 158
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$419
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $460

Break-even live

Break-even rent $747

Max offer price $79,900

Occupancy floor 60%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	44d	1	0.16mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	5d	1	0.34mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	17d	1	0.35mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	17d	1	0.35mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	15d	1	0.39mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	44d	1	0.40mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	0.50mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	44d	1	0.51mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	24d	1	0.55mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	44d	1	0.58mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	0.59mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	15d	1	0.73mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	44d	1	0.93mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	44d	1	1.02mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	44d	1	1.03mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	17d	1	1.15mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	44d	1	1.16mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	1.17mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	18d	1	1.21mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	18d	1	1.21mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.25mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.26mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	1.28mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	44d	1	1.29mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	44d	1	1.30mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	44d	1	1.35mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	5d	1	1.36mi
12941 Penrod St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	44d	1	1.38mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.39mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	11d	1	1.39mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	1.40mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	44d	6	1.41mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	24d	2	1.43mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	44d	2	1.43mi
12944 Rosemont Ave Detroit, MI	2.0	1.0	800	$1,050	$1.31	5d	1	1.44mi
13600 Southfield Fwy Detroit, MI	2.0	1.0	848	$1,100	$1.30	5d	1	1.44mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	17d	1	1.44mi
14280 Bramell St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	17d	1	1.48mi

Listing history 25 events

1. 2026-06-17
   statusdays on market $79,900 Pending 35 DOM
2. 2026-06-15
   days on market $79,900 Active Under Contract 34 DOM
3. 2026-06-13
   days on market $79,900 Active Under Contract 32 DOM
4. 2026-06-13
   days on market $79,900 Active Under Contract 31 DOM
5. 2026-06-09
   days on market $79,900 Active Under Contract 28 DOM
6. 2026-06-08
   days on market $79,900 Active Under Contract 27 DOM
7. 2026-06-07
   days on market $79,900 Active Under Contract 26 DOM
8. 2026-06-04
   days on market $79,900 Active Under Contract 23 DOM
9. 2026-06-03
   days on market $79,900 Active Under Contract 22 DOM
10. 2026-06-02
    days on market $79,900 Active Under Contract 21 DOM
11. 2026-06-01
    days on market $79,900 Active Under Contract 20 DOM
12. 2026-05-31
    days on market $79,900 Active Under Contract 19 DOM
13. 2026-05-15
    historical Accepting Backup Offers 347-char remark

    Show marketing remark (347 chars)

    Very well maintained, three bedroom, 1.5 bathroom, brick colonial located near Stoepel Park, shops and food establishments. Basement and large, fenced in yard for additional storage. Immediate rental income with a reliable, long term tenant in place and paying all utilities, Tenant will be staying in property. DO NOT DISTURB THE TENANTS. BATVAI.

14. 2026-05-15
    historical Active Under Contract

    Show marketing remark (347 chars)

    Very well maintained, three bedroom, 1.5 bathroom, brick colonial located near Stoepel Park, shops and food establishments. Basement and large, fenced in yard for additional storage. Immediate rental income with a reliable, long term tenant in place and paying all utilities, Tenant will be staying in property. DO NOT DISTURB THE TENANTS. BATVAI.

15. 2026-05-12
    listed $79,900 Active 347-char remark

    Show marketing remark (347 chars)

    Very well maintained, three bedroom, 1.5 bathroom, brick colonial located near Stoepel Park, shops and food establishments. Basement and large, fenced in yard for additional storage. Immediate rental income with a reliable, long term tenant in place and paying all utilities, Tenant will be staying in property. DO NOT DISTURB THE TENANTS. BATVAI.

16. 2026-05-12
    listed $79,900 Active

    Show marketing remark (347 chars)

    Very well maintained, three bedroom, 1.5 bathroom, brick colonial located near Stoepel Park, shops and food establishments. Basement and large, fenced in yard for additional storage. Immediate rental income with a reliable, long term tenant in place and paying all utilities, Tenant will be staying in property. DO NOT DISTURB THE TENANTS. BATVAI.

17. 2026-01-21
    historical
18. 2026-01-21
    historical
19. 2025-10-01
    price $89,000
20. 2025-09-30
    price $89,000
21. 2025-07-28
    listed $95,900 Active
22. 2025-07-28
    listed $95,900 Active
23. 2019-06-07
    soldstatus $128,984
24. 2019-06-07
    soldstatus $128,984
25. 2018-09-28
    soldstatus $48,000

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $1,654 · $138/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 ≥99°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: $15,951
• − Mortgage interest: −$4,476
• − Property taxes: −$1,654
• − Insurance: −$400
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$2,324
• Taxable income: $4,546
• Est. tax owed @ 24.0%: −$1,091
• After-tax cash flow: $4,429/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

+66.5% since first listed

13 events — show timeline

• 2026-05-15 Contingent — MiRealSource-MiMLS
• 2026-05-15 Contingent — REALCOMP
• 2026-05-12 Listed $79,900 REALCOMP
• 2026-05-12 Listed $79,900 MiRealSource-MiMLS
• 2026-01-21 Listing Removed — REALCOMP
• 2026-01-21 Listing Removed — MiRealSource-MiMLS
• 2025-10-01 Price Changed $89,000 MiRealSource-MiMLS
• 2025-09-30 Price Changed $89,000 REALCOMP
• 2025-07-28 Listed $95,900 REALCOMP
• 2025-07-28 Listed $95,900 MiRealSource-MiMLS
• 2019-06-07 Sold (Public Records) $128,984 Public Records
• 2019-06-07 Sold (Public Records) $128,984 Public Records
• 2018-09-28 Sold (Public Records) $48,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,654 · -54.2% YoY. Source: county tax records.