15844 Wildemere St · Detroit, MI 48238

$64,900

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 24 Days on market

Built 1923 3,049 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Key facts

• 3,049 sq ft lot
• Garage
• Built 1923

Property features AI

Exterior

• Parking: Detached garage (1 space)
• Utilities: Public water
• Home design: Single-family residence; Other architectural style; Built in 1923; Living area 825
• Construction: Aluminum siding
• Exterior features: Public water; 0.07-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 5 total rooms; Crawl space basement

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 $360 ($4k/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: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% 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: 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 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).
• This rent runs 40% 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 24 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.
• Current owner paid $50k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,926 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.70% ✓
• Cap rate: 12.96%
• Cash-on-cash: 23.80%
• DSCR: 2.06
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $35,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15893 Alden St	0.09mi	2/1.5	836 (+1%)	1mo	$24,000	$29	91
15798 Muirland St	0.07mi	2/1.0	943 (+14%)	1mo	$29,000	$31	72
6362 Globe St	0.49mi	2/1.0	888 (+8%)	0mo	$15,000	$17	64
15721 Log Cabin St	0.55mi	2/1.0	844 (+2%)	11mo	$23,000	$27	62
15865 Princeton St	0.18mi	2/1.0	714 (-14%)	16mo	$59,000	$83	56
7300 Ellsworth St	0.73mi	2/1.0	836 (+1%)	10mo	$30,000	$36	55
14890 Holmur St	0.61mi	2/1.0	779 (-6%)	10mo	$40,598	$52	54
16230 Santa Rosa Dr	0.57mi	2/1.0	895 (+8%)	10mo	$120,000	$134	51
1952 Louise St	0.69mi	3/1.0 (+1)	882 (+7%)	2mo	$33,000	$37	50
7326 Ellsworth St	0.75mi	2/1.0	756 (-8%)	13mo	$35,000	$46	40
1983 Brighton St	0.73mi	3/1.0 (+1)	921 (+12%)	5mo	$40,000	$43	38
1931 Pilgrim St	0.70mi	3/1.0 (+1)	931 (+13%)	13mo	$65,000	$70	30

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: 20.8%
• Equity multiple: 1.89×
• Total profit: $16,087
• Equity at exit: $9,677

10-year hold

• IRR: 31.1%
• Equity multiple: 4.27×
• Total profit: $59,509
• 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: 4.9×

Monthly cashflow live

• Estimated rent: $1,102 high
• Mortgage (P&I): −$340
• Tax from tax record: −$143 /mo · $1,711/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $360

Break-even live

Break-even rent $646

Max offer price $64,900

Occupancy floor 62%

Sensitivity live

Price	-10% $397	-5% $379	+0% $360	+5% $342	+10% $324
Rent	-10% $273	-5% $317	+0% $360	+5% $404	+10% $448
Rate	-1.0pp $393	-0.5pp $377	base $360	+0.5pp $344	+1.0pp $327

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
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.08mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	0.23mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.23mi
2623 W McNichols Rd Unit 23106 Detroit, MI	1.0	1.0	750	$1,075	$1.43	44d	1	0.58mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.66mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.70mi
14950 Stoepel St Detroit, MI	2.0	1.0	600	$900	$1.50	24d	1	0.76mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.80mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	18d	1	0.83mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.84mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.87mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	0.88mi
1705 Oakman Blvd Unit 10 Detroit, MI	1.0	1.0	650	$895	$1.38	24d	1	0.89mi
1705 Oakman Blvd Unit 5 Detroit, MI	1.0	1.0	650	$895	$1.38	44d	1	0.89mi
1875 Ewald Cir Unit 2E Detroit, MI	1.0	1.0	725	$875	$1.21	5d	1	0.92mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.92mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	0.97mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.05mi
3808 Kendall St Unit 3 Detroit, MI	1.0	1.0	550	$700	$1.27	44d	1	1.05mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	44d	1	1.05mi
941 Merton Rd Highland Park, MI	2.0	1.0	850	$1,000	$1.18	44d	1	1.06mi
17449 Manderson Rd Unit 1 Detroit, MI	2.0	1.0	750	$1,150	$1.53	24d	1	1.07mi
17449 Manderson Rd Unit 8 Detroit, MI	1.0	1.0	700	$950	$1.36	20d	1	1.07mi
17449 Manderson Rd Unit 3 Detroit, MI	1.0	1.0	700	$950	$1.36	3d	1	1.07mi
17449 Manderson Rd Unit 3 Detroit, MI	1.0	1.0	700	$1,015	$1.45	24d	1	1.07mi
17449 Manderson Rd Unit 13 Detroit, MI	1.0	1.0	700	$1,015	$1.45	3d	1	1.07mi
17449 Manderson Rd Unit 16 Detroit, MI	1.0	1.0	700	$950	$1.36	24d	1	1.07mi
17461 Manderson Rd Unit 5 Detroit, MI	1.0	1.0	700	$1,015	$1.45	22d	1	1.07mi
17497 Manderson Rd Unit 17A Detroit, MI	1.0	1.0	700	$1,015	$1.45	24d	1	1.08mi
17497 Manderson Rd Unit 18A Detroit, MI	1.0	1.0	700	$91,015	$130.02	22d	1	1.08mi
17497 Manderson Rd Unit 17 Detroit, MI	1.0	1.0	700	$1,015	$1.45	22d	1	1.08mi
3266 Pasadena St Unit 3 Detroit, MI	1.0	1.0	696	$700	$1.01	44d	1	1.10mi
13639 La Salle Blvd Detroit, MI	1.0	1.0	800	$775	$0.97	44d	1	1.11mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	11d	1	1.11mi
13641 La Salle Blvd Detroit, MI	1.0	1.0	800	$775	$0.97	24d	1	1.11mi
17701 Manderson Rd Unit 202 Highland Park, MI	1.0	1.0	750	$900	$1.20	44d	1	1.14mi
17701 Manderson Rd Unit 104 Highland Park, MI	1.0	1.0	750	$950	$1.27	44d	1	1.14mi
17701 MANDERSON Detroit, MI	1.0	1.0	750	$925	$1.23	17d	9	1.14mi
2341 Ewald Cir Unit 3 Detroit, MI	1.0	1.0	600	$900	$1.50	44d	1	1.14mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	1.16mi

Listing history 24 events

1. 2026-06-18
   days on market $64,900 Active 24 DOM
2. 2026-06-17
   days on market $64,900 Active 23 DOM
3. 2026-06-15
   days on market $64,900 Active 21 DOM
4. 2026-06-13
   days on market $64,900 Active 19 DOM
5. 2026-06-13
   days on market $64,900 Active 18 DOM
6. 2026-06-09
   days on market $64,900 Active 15 DOM
7. 2026-06-08
   days on market $64,900 Active 14 DOM
8. 2026-06-07
   days on market $64,900 Active 13 DOM
9. 2026-06-04
   days on market $64,900 Active 10 DOM
10. 2026-06-03
    days on market $64,900 Active 9 DOM
11. 2026-06-02
    days on market $64,900 Active 8 DOM
12. 2026-06-01
    days on market $64,900 Active 7 DOM
13. 2026-05-31
    days on market $64,900 Active 6 DOM
14. 2026-05-26
    listed $64,900 Active
15. 2026-05-25
    listed $64,900 Active
16. 2026-05-25
    listed $64,900 Active
17. 2024-12-18
    soldstatus $50,000
18. 2024-11-26
    soldstatus $50,000 Sold
19. 2024-11-26
    soldstatus $50,000 Closed
20. 2024-10-23
    status Pending
21. 2024-10-23
    status Pending
22. 2024-10-07
    listed $55,000 Active
23. 2024-10-07
    listed $55,000 Active
24. 2021-05-14
    soldstatus $49,000

ⓘ 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: $1,711 · $143/mo
• Projected year-2 tax: $1,711 · $143/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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,222
• − Mortgage interest: −$3,635
• − Property taxes: −$1,711
• − Insurance: −$324
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$1,888
• Taxable income: $3,548
• Est. tax owed @ 24.0%: −$851
• After-tax cash flow: $3,474/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

+32.4% since first listed

11 events — show timeline

• 2026-05-26 Listed $64,900 REALCOMP
• 2026-05-25 Listed $64,900 MiRealSource-MiMLS
• 2026-05-25 Listed $64,900 SW Michigan MLS
• 2024-12-18 Sold (Public Records) $50,000 Public Records
• 2024-11-26 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2024-11-26 Sold (MLS) $50,000 REALCOMP
• 2024-10-23 Pending — MiRealSource-MiMLS
• 2024-10-23 Pending — REALCOMP
• 2024-10-07 Listed $55,000 MiRealSource-MiMLS
• 2024-10-07 Listed $55,000 REALCOMP
• 2021-05-14 Sold (Public Records) $49,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $1,711 · -27.4% YoY. Source: county tax records.