15469 Wildemere St · Detroit, MI 48238

$11,000

2 bd · 1.0 ba · 1,278 sqft · SingleFamily public records · 38 Days on market

Built 1923 3,049 sqft lot $9/sqft · 79% 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
• 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

Listing remarks MLS

Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

Key facts

• 3,049 sq ft lot
• Built 1923
• Listed 38 days

Property features AI

Finance

• Other: Residential property
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half stories
• Construction: Asphalt construction materials
• Exterior features: Lot in Ford Plains Subdivision; Lot dimensions approximately 3,049; Lot size about 0.07 acres; Cross street: John C. Lodge Fwy and Dexter Ave

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling system
• Interior features: Has basement; Two rooms total

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $11k.

Deal economics

• At list price, monthly cash flow is $907 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $11k).
• Recommended offer: $11k (3.0% below list) — sets the bar for market timing.
• Cap rate 105.2% 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 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 45% 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 $76 of loan paydown is wiped out by about $330 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 22% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,670 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1923 — 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. 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?
7. 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.
8. 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.
9. 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: 11.31% ✓
• Cap rate: 105.25%
• Cash-on-cash: 353.41%
• DSCR: 16.72
• GRM: 0.7

CMA / ARV

• ARV (median comp): $52,888
• List price: $11,000
• Delta: -79.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15904 Parkside St	0.26mi	3/1.5 (+1)	1,204 (-6%)	2mo	$140,000	$116	70
15455 Wildemere St	0.01mi	3/1.0 (+1)	1,095 (-14%)	2mo	$18,500	$17	69
15494 Muirland St	0.03mi	2/1.0	1,090 (-15%)	9mo	$39,000	$36	67
15863 Belden St	0.26mi	3/1.0 (+1)	1,156 (-10%)	1mo	$18,600	$16	66
15840 Lawton St	0.26mi	3/1.0 (+1)	1,176 (-8%)	7mo	$38,000	$32	64
15021 Petoskey Ave	0.47mi	3/1.0 (+1)	1,177 (-8%)	1mo	$28,000	$24	59
6433 Globe St	0.53mi	3/1.0 (+1)	1,344 (+5%)	7mo	$100,000	$74	56
15877 Baylis St	0.49mi	3/1.0 (+1)	1,400 (+10%)	5mo	$71,000	$51	52
16141 Wildemere St	0.35mi	3/1.5 (+1)	1,448 (+13%)	5mo	$165,000	$114	50
16180 Wildemere St	0.39mi	3/1.5 (+1)	1,454 (+14%)	2mo	$115,000	$79	50
16177 Inverness St	0.63mi	3/1.0 (+1)	1,404 (+10%)	4mo	$70,000	$50	46
7447 Ellsworth St	0.75mi	3/1.0 (+1)	1,160 (-9%)	5mo	$35,500	$31	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: —
• Equity multiple: 20.50×
• Total profit: $60,064
• Equity at exit: $1,640

10-year hold

• IRR: —
• Equity multiple: 47.92×
• Total profit: $144,521
• Equity at exit: $951

Cash invested: $3,080 (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: 0.7×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$58
• Tax est. 1.5%: −$14 /mo · $165/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $907

Break-even live

Break-even rent $96

Max offer price $11,000

Occupancy floor 22%

Sensitivity live

Price	-10% $915	-5% $911	+0% $907	+5% $903	+10% $899
Rent	-10% $809	-5% $858	+0% $907	+5% $956	+10% $1,005
Rate	-1.0pp $913	-0.5pp $910	base $907	+0.5pp $904	+1.0pp $901

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: $2,750
• Closing costs: $330
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	0.18mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.27mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	0.43mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	0.43mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	0.60mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	0.66mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	18d	1	0.72mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	0.77mi
2286 Kendall St Detroit, MI	1.0	1.0	1689	$500	$0.30	44d	1	0.79mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	44d	1	0.81mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	0.84mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	18d	1	0.84mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.90mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	44d	1	0.96mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	18d	1	0.96mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	0.97mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.97mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.00mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	25d	1	1.01mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.01mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	1.01mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	1.05mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	1.05mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.09mi
15791 Cherrylawn St Detroit, MI	2.0	1.0	1792	$1,100	$0.61	44d	1	1.12mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	1.13mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	1.13mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	44d	1	1.20mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.21mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	1.22mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	44d	1	1.23mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	25d	1	1.23mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.23mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.23mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	1.26mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	1.27mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	1.28mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	1.29mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.30mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	1.32mi

Listing history 16 events

1. 2026-06-18
   days on market $11,000 Active 38 DOM
2. 2026-06-17
   days on market $11,000 Active 37 DOM
3. 2026-06-15
   days on market $11,000 Active 35 DOM
4. 2026-06-13
   days on market $11,000 Active 33 DOM
5. 2026-06-13
   pricedays on market $11,000 Active 32 DOM
6. 2026-06-09
   days on market $9,000 Active 29 DOM
7. 2026-06-08
   days on market $9,000 Active 28 DOM
8. 2026-06-07
   days on market $9,000 Active 27 DOM
9. 2026-06-04
   days on market $9,000 Active 24 DOM
10. 2026-06-03
    days on market $9,000 Active 23 DOM
11. 2026-06-02
    days on market $9,000 Active 22 DOM
12. 2026-06-01
    days on market $9,000 Active 21 DOM
13. 2026-05-31
    days on market $9,000 Active 20 DOM
14. 2026-05-11
    listed $9,000 Active 215-char remark

    Show marketing remark (215 chars)

    Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

15. 2026-05-11
    listed $9,000 Active 215-char remark

    Show marketing remark (215 chars)

    Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

16. 2003-03-20
    soldstatus $55,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $14,933
• − Mortgage interest: −$616
• − Property taxes: −$165
• − Insurance: −$55
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$320
• Taxable income: $11,388
• Est. tax owed @ 24.0%: −$2,733
• After-tax cash flow: $8,152/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

-80.0% since first listed

5 events — show timeline

• 2026-06-11 Price Changed $11,000 MiRealSource-MiMLS
• 2026-06-11 Price Changed $11,000 REALCOMP
• 2026-05-11 Listed $9,000 REALCOMP
• 2026-05-11 Listed $9,000 MiRealSource-MiMLS
• 2003-03-20 Sold (Public Records) $55,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,334 · +1.6% YoY. Source: county tax records.