15371 Heyden St · Detroit, MI 48223

$75,000

3 bd · 1.0 ba · 1,132 sqft · SingleFamily public records · 9 Days on market

Built 1949 4,792 sqft lot Est $98k · 24% under

---

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

Beautiful tenanted property in a prime area of Detroit. Wonderful block and close to grocers and shopping. Purchaser to pay listing broker a $495 transaction fee at closing. BATVAI. Rented at 1150.

Key facts

• Tenanted property
• Close to grocers
• Prime area

Tags

• TENANTED PROPERTY
• PRIME AREA
• CLOSE TO GROCERS
• CLOSE TO SHOPPING

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and a half stories; Ground-level entry with steps; Brick exterior
• Construction: Brick/Mortar foundation
• Exterior features: Paved road access; Lot approximately 40 x 115 (0.11 acre)

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 14.6% 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: 158 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 49% 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 $519 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 $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 28y 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: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.78% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.63%
• DSCR: 2.32
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $98,484
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15452 Stout St	0.11mi	3/1.0	1,110 (-2%)	8mo	$152,000	$137	85
15518 Kentfield St	0.13mi	3/1.5	1,092 (-4%)	4mo	$165,500	$152	82
15776 Evergreen Rd	0.29mi	3/1.0	1,122 (-1%)	4mo	$60,000	$53	82
15836 Patton St	0.36mi	3/1.0	1,122 (-1%)	6mo	$42,500	$38	77
15754 Evergreen Rd	0.26mi	3/1.0	1,091 (-4%)	9mo	$67,000	$61	74
15751 Vaughan St	0.22mi	3/1.5	1,244 (+10%)	2mo	$110,000	$88	69
16122 Trinity St	0.60mi	3/2.5	1,152 (+2%)	4mo	$169,900	$147	60
15776 Vaughan St	0.27mi	3/1.5	1,255 (+11%)	9mo	$165,000	$131	60
15907 Blackstone St	0.62mi	4/1.0 (+1)	1,097 (-3%)	9mo	$95,000	$87	53
19400 Lyndon St	0.69mi	3/2.0	1,169 (+3%)	9mo	$70,000	$60	51
14387 Auburn St	0.72mi	3/1.0	971 (-14%)	3mo	$42,000	$43	40
19431 Lyndon St	0.71mi	2/1.0 (-1)	990 (-12%)	7mo	$36,500	$37	35

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: 24.2%
• Equity multiple: 2.00×
• Total profit: $20,904
• Equity at exit: $11,183

10-year hold

• IRR: 32.0%
• Equity multiple: 3.90×
• Total profit: $60,856
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,336 high
• Mortgage (P&I): −$393
• Tax from tax record: −$113 /mo · $1,350/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $519

Break-even live

Break-even rent $680

Max offer price $75,000

Occupancy floor 56%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	43d	1	0.06mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	14d	1	0.20mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	16d	1	0.21mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	43d	1	0.23mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	4d	1	0.24mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	43d	1	0.32mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	24d	1	0.41mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	14d	1	0.52mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	16d	1	0.55mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.70mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	43d	1	0.79mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	0.80mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	43d	1	0.82mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	43d	1	1.06mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	17d	1	1.07mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	1.09mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	43d	1	1.17mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	11d	1	1.19mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	16d	1	1.20mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	24d	2	1.22mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	43d	2	1.22mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	16d	1	1.24mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	43d	1	1.24mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	4d	1	1.24mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.26mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	43d	1	1.32mi
19050 W Davison St Detroit, MI	3.0	1.0	1118	$1,400	$1.25	43d	1	1.36mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	16d	1	1.40mi
13514 Stahelin Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	1.41mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	16d	1	1.43mi
13591 Faust Ave Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	1.44mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	24d	1	1.45mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	1.45mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	43d	1	1.46mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	24d	1	1.46mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	1.47mi
12950 Glastonbury Ave Detroit, MI	3.0	1.0	1000	$1,400	$1.40	24d	1	1.48mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	24d	1	1.48mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	43d	1	1.49mi

Listing history 31 events

1. 2026-06-07
   statusdays on market $75,000 Pending 9 DOM
2. 2026-06-04
   days on market $75,000 Active 8 DOM
3. 2026-06-03
   days on market $75,000 Active 7 DOM
4. 2026-06-02
   days on market $75,000 Active 6 DOM
5. 2026-06-01
   days on market $75,000 Active 5 DOM
6. 2026-05-31
   days on market $75,000 Active 4 DOM
7. 2026-05-27
   listed $75,000 Active
8. 2026-05-26
   listed $75,000 Active 197-char remark

   Show marketing remark (197 chars)

   Beautiful tenanted property in a prime area of Detroit. Wonderful block and close to grocers and shopping. Purchaser to pay listing broker a $495 transaction fee at closing. BATVAI. Rented at 1150.

9. 2018-09-04
   soldstatus $79,500
10. 2017-10-31
    soldstatus $30,200 Sold 145-char remark

    Show marketing remark (145 chars)

    Solid brick 3 bed bungalow. Formal dining room, fireplace, nice fenced yard, deck, security lights and partially finished basement. SOLID home!!!

11. 2017-10-04
    status Pending

    Show marketing remark (145 chars)

    Solid brick 3 bed bungalow. Formal dining room, fireplace, nice fenced yard, deck, security lights and partially finished basement. SOLID home!!!

12. 2017-10-04
    status Pending 145-char remark

    Show marketing remark (145 chars)

    Solid brick 3 bed bungalow. Formal dining room, fireplace, nice fenced yard, deck, security lights and partially finished basement. SOLID home!!!

13. 2017-09-08
    listed $30,000 Active

    Show marketing remark (145 chars)

    Solid brick 3 bed bungalow. Formal dining room, fireplace, nice fenced yard, deck, security lights and partially finished basement. SOLID home!!!

14. 2017-09-08
    listed $30,000 Active 145-char remark

    Show marketing remark (145 chars)

    Solid brick 3 bed bungalow. Formal dining room, fireplace, nice fenced yard, deck, security lights and partially finished basement. SOLID home!!!

15. 2008-06-23
    historical
16. 2008-05-23
    listed $15,400
17. 2008-05-14
    historical
18. 2008-01-24
    listed $35,000
19. 2007-12-31
    historical
20. 2007-12-31
    historical
21. 2007-06-20
    listed $84,900
22. 2007-06-19
    listed $84,900
23. 2007-06-13
    historical
24. 2007-03-01
    historical
25. 2007-03-01
    historical
26. 2006-09-30
    listed $114,000
27. 2006-09-21
    listed $95,000
28. 2006-09-21
    listed $114,000
29. 1999-12-29
    soldstatus $51,000
30. 1999-08-23
    soldstatus $51,000
31. 1998-06-01
    listed $58,000

ⓘ 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: $1,350 · $113/mo
• Projected year-2 tax: $1,350 · $113/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 · 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: $16,034
• − Mortgage interest: −$4,201
• − Property taxes: −$1,350
• − Insurance: −$375
• − Repairs & maintenance: −$1,283
• − Management: −$1,283
• − Depreciation: −$2,182
• Taxable income: $5,361
• Est. tax owed @ 24.0%: −$1,287
• After-tax cash flow: $4,936/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

+29.3% since first listed

25 events — show timeline

• 2026-05-27 Listed $75,000 REALCOMP
• 2026-05-26 Listed $75,000 MiRealSource-MiMLS
• 2018-09-04 Sold (Public Records) $79,500 Public Records
• 2017-10-31 Sold (MLS) $30,200 REALCOMP
• 2017-10-04 Pending — MiRealSource-MiMLS
• 2017-10-04 Pending — REALCOMP
• 2017-09-08 Listed $30,000 MiRealSource-MiMLS
• 2017-09-08 Listed $30,000 REALCOMP
• 2008-06-23 Listing Removed — REALCOMP
• 2008-05-23 Listed $15,400 REALCOMP
• 2008-05-14 Listing Removed — REALCOMP
• 2008-01-24 Listed $35,000 REALCOMP
• 2007-12-31 Listing Removed — MiRealSource-MiMLS
• 2007-12-31 Listing Removed — REALCOMP
• 2007-06-20 Listed $84,900 REALCOMP
• 2007-06-19 Listed $84,900 MiRealSource-MiMLS
• 2007-06-13 Listing Removed — REALCOMP
• 2007-03-01 Listing Removed — MiRealSource-MiMLS
• 2007-03-01 Listing Removed — MiRealSource-MiMLS
• 2006-09-30 Listed $114,000 MiRealSource-MiMLS
• 2006-09-21 Listed $114,000 MiRealSource-MiMLS
• 2006-09-21 Listed $95,000 REALCOMP
• 1999-12-29 Sold (Public Records) $51,000 Public Records
• 1999-08-23 Sold (MLS) $51,000 REALCOMP
• 1998-06-01 Listed $58,000 REALCOMP

Property tax history

+0.3%/yr

Latest (2025): $1,350 · -54.0% YoY. Source: county tax records.