13615 Ohio St · Detroit, MI 48238

$125,000

4 bd · 1.0 ba · 1,101 sqft · SingleFamily public records · 121 Days on market

Built 1926 3,485 sqft lot $114/sqft · 220% above area

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Why this score? — see what drove the C 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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• 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

Investor special!!! * * Tenant occupied * * 24 hour notice to show. With 4 generously sized bedrooms, 1.5 bathrooms, and approximately 1,500 square feet of above-grade living space, this home offers both comfort and functionality. A newer water heater enhances efficiency and peace of mind. Outside, you’ll find a fenced yard and a detached garage, adding extra convenience and versatility. A solid, move-in ready home with plenty of room to spread out.

Key facts

• Fenced yard
• Newer water heater
• Detached garage

Tags

• FENCED YARD
• NEWER WATER HEATER
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

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); 348 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,359/mo this rent would consume 49% of the median local household income ($33k/yr) (locally 2172% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.09% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

• ARV (median comp): $53,294
• List price: $125,000
• Delta: 134.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13558 Pinehurst St	0.51mi	4/1.0	1,099 (-0%)	2mo	$135,000	$123	74
13124 Kentucky St	0.29mi	3/1.5 (-1)	1,140 (+4%)	10mo	$31,000	$27	66
13581 Cloverlawn St	0.17mi	4/2.0	1,240 (+13%)	4mo	$143,000	$115	64
14249 Cloverlawn St	0.36mi	3/1.0 (-1)	1,035 (-6%)	5mo	$69,000	$67	64
13903 Cloverlawn Ave	0.18mi	3/1.5 (-1)	1,265 (+15%)	5mo	$140,000	$111	56
14628 Ohio St	0.64mi	4/1.5	1,129 (+2%)	9mo	$50,000	$44	56
14203 Cherrylawn St	0.28mi	3/2.0 (-1)	1,250 (+14%)	5mo	$58,000	$46	51
12440 Mendota St	0.72mi	3/1.0 (-1)	1,035 (-6%)	2mo	$39,999	$39	50
14256 Ohio St	0.33mi	3/1.0 (-1)	1,242 (+13%)	10mo	$40,000	$32	50
12754 Mendota St	0.56mi	3/1.0 (-1)	1,224 (+11%)	8mo	$28,500	$23	44
12740 Mendota St	0.57mi	3/1.0 (-1)	972 (-12%)	6mo	$90,000	$93	44
13503 Monica St	0.63mi	3/1.0 (-1)	953 (-13%)	7mo	$47,500	$50	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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,552
• Equity at exit: $18,638

10-year hold

• IRR: 13.5%
• Equity multiple: 2.23×
• Total profit: $43,066
• Equity at exit: $10,808

Cash invested: $35,000 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 348
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,359 high
• Mortgage (P&I): −$656
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $273

Break-even live

Break-even rent $1,014

Max offer price $125,000

Occupancy floor 75%

Sensitivity live

Price	-10% $344	-5% $309	+0% $273	+5% $238	+10% $202
Rent	-10% $166	-5% $219	+0% $273	+5% $327	+10% $381
Rate	-1.0pp $336	-0.5pp $305	base $273	+0.5pp $241	+1.0pp $208

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.13mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	6d	1	0.14mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	0.25mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	3d	1	0.25mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.31mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.45mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	0.50mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	0.51mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	0.57mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	0.58mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.63mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	0.69mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.73mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	0.88mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	0.92mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	0.97mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	25d	1	1.05mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	44d	1	1.05mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	6d	1	1.06mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	1.16mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.20mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	1.21mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	19d	1	1.23mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	6d	1	1.23mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	6d	1	1.33mi
10002 Manor Unit 2 Detroit, MI	3.0	1.0	1100	$1,150	$1.05	44d	1	1.35mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	1.37mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	44d	1	1.39mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	1.39mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	4d	1	1.41mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	1.45mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	1.49mi

Listing history 39 events

1. 2026-06-21
   days on market $125,000 Active 121 DOM
2. 2026-06-18
   days on market $125,000 Active 118 DOM
3. 2026-06-17
   days on market $125,000 Active 117 DOM
4. 2026-06-15
   days on market $125,000 Active 115 DOM
5. 2026-06-13
   days on market $125,000 Active 113 DOM
6. 2026-06-13
   days on market $125,000 Active 112 DOM
7. 2026-06-09
   days on market $125,000 Active 109 DOM
8. 2026-06-08
   days on market $125,000 Active 108 DOM
9. 2026-06-07
   days on market $125,000 Active 107 DOM
10. 2026-06-04
    days on market $125,000 Active 104 DOM
11. 2026-06-03
    days on market $125,000 Active 103 DOM
12. 2026-06-01
    days on market $125,000 Active 101 DOM
13. 2026-05-31
    days on market $125,000 Active 100 DOM
14. 2026-02-20
    listed $125,000 Active 463-char remark

    Show marketing remark (457 chars)

    Investor special!!! * * Tenant occupied * * 24 hour notice to show. With 4 generously sized bedrooms, 1.5 bathrooms, and approximately 1,500 square feet of above-grade living space, this home offers both comfort and functionality. A newer water heater enhances efficiency and peace of mind. Outside, you'll find a fenced yard and a detached garage, adding extra convenience and versatility. A solid, move-in ready home with plenty of room to spread out.

15. 2026-02-20
    listed $125,000 Active 457-char remark

    Show marketing remark (457 chars)

    Investor special!!! * * Tenant occupied * * 24 hour notice to show. With 4 generously sized bedrooms, 1.5 bathrooms, and approximately 1,500 square feet of above-grade living space, this home offers both comfort and functionality. A newer water heater enhances efficiency and peace of mind. Outside, you'll find a fenced yard and a detached garage, adding extra convenience and versatility. A solid, move-in ready home with plenty of room to spread out.

16. 2026-01-29
    historical
17. 2026-01-29
    historical
18. 2025-12-02
    price $134,900
19. 2025-12-01
    price $134,900
20. 2025-09-15
    listed $150,000 Active
21. 2025-09-15
    listed $150,000 Active
22. 2023-08-29
    soldstatus $123,500
23. 2023-08-14
    soldstatus $123,500 Sold
24. 2023-08-14
    soldstatus $123,500 Closed
25. 2023-07-20
    status Pending
26. 2023-07-20
    status Pending
27. 2023-07-01
    price $125,500
28. 2023-07-01
    price $125,500
29. 2023-06-25
    price $135,000
30. 2023-06-24
    price $135,000
31. 2023-06-18
    price $155,000
32. 2023-06-18
    price $155,000
33. 2023-06-17
    listed $175,000 Active
34. 2023-06-17
    listed $175,000 Active
35. 2014-08-21
    soldstatus $6,500
36. 2014-08-21
    soldstatus $6,500
37. 2014-05-05
    historical
38. 2014-04-25
    listed $6,500
39. 2014-04-25
    listed $6,500

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,522 · $127/mo
• Expected delta: +$403/yr (+$34/mo · 36.1%)

ⓘ 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 ≥97°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: $16,313
• − Mortgage interest: −$7,002
• − Property taxes: −$1,118
• − Insurance: −$625
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$3,636
• Taxable income: $1,321
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,960/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

+1823.1% since first listed

26 events — show timeline

• 2026-02-20 Listed $125,000 REALCOMP
• 2026-02-20 Listed $125,000 MiRealSource-MiMLS
• 2026-01-29 Listing Removed — REALCOMP
• 2026-01-29 Listing Removed — MiRealSource-MiMLS
• 2025-12-02 Price Changed $134,900 MiRealSource-MiMLS
• 2025-12-01 Price Changed $134,900 REALCOMP
• 2025-09-15 Listed $150,000 REALCOMP
• 2025-09-15 Listed $150,000 MiRealSource-MiMLS
• 2023-08-29 Sold (Public Records) $123,500 Public Records
• 2023-08-14 Sold (MLS) $123,500 MiRealSource-MiMLS
• 2023-08-14 Sold (MLS) $123,500 REALCOMP
• 2023-07-20 Pending — MiRealSource-MiMLS
• 2023-07-20 Pending — REALCOMP
• 2023-07-01 Price Changed $125,500 MiRealSource-MiMLS
• 2023-07-01 Price Changed $125,500 REALCOMP
• 2023-06-25 Price Changed $135,000 MiRealSource-MiMLS
• 2023-06-24 Price Changed $135,000 REALCOMP
• 2023-06-18 Price Changed $155,000 MiRealSource-MiMLS
• 2023-06-18 Price Changed $155,000 REALCOMP
• 2023-06-17 Listed $175,000 MiRealSource-MiMLS
• 2023-06-17 Listed $175,000 REALCOMP
• 2014-08-21 Sold (MLS) $6,500 MiRealSource-MiMLS
• 2014-08-21 Sold (MLS) $6,500 REALCOMP
• 2014-05-05 Listing Removed — MiRealSource-MiMLS
• 2014-04-25 Listed $6,500 MiRealSource-MiMLS
• 2014-04-25 Listed $6,500 REALCOMP

Property tax history

+3.0%/yr

Latest (2025): $1,118 · -8.6% YoY. Source: county tax records.