15509 Holmur St · Detroit, MI 48238

$110,000

4 bd · 1.5 ba · 1,502 sqft · SingleFamily public records · 134 Days on market

Built 1923 4,356 sqft lot $73/sqft · 15% above area Est $150k · 27% 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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1923

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (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); 346 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1,437/mo this rent would consume 52% 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 11y ago; this cycle's ask has dropped $35k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1923 — 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: 1.31% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.73%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

• ARV (median comp): $150,411
• List price: $110,000
• Delta: -26.87%
• 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
16143 Monica St	0.45mi	4/2.0	1,500 (-0%)	2mo	$175,000	$117	75
16180 Wildemere St	0.45mi	3/1.5 (-1)	1,454 (-3%)	2mo	$115,000	$79	66
16141 Wildemere St	0.41mi	3/1.5 (-1)	1,448 (-4%)	5mo	$165,000	$114	66
16533 Parkside St	0.57mi	3/2.0 (-1)	1,500 (-0%)	2mo	$205,000	$137	64
16811 Stoepel St	0.65mi	3/2.0 (-1)	1,500 (-0%)	5mo	$138,000	$92	58
15580 Linwood St	0.54mi	3/1.0 (-1)	1,546 (+3%)	6mo	$45,000	$29	58
6433 Globe St	0.27mi	3/1.0 (-1)	1,344 (-10%)	7mo	$100,000	$74	57
16651 Lawton St	0.70mi	4/1.5	1,656 (+10%)	5mo	$90,000	$54	46
15877 Baylis St	0.72mi	3/1.0 (-1)	1,400 (-7%)	5mo	$71,000	$51	44
15379 Woodingham Dr	0.64mi	4/1.0	1,300 (-13%)	4mo	$7,000	$5	43
14827 Petoskey Ave	0.48mi	3/2.5 (-1)	1,717 (+14%)	6mo	$85,000	$50	40
15525 La Salle Blvd	0.64mi	5/2.0 (+1)	1,680 (+12%)	5mo	$40,000	$24	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: 10.0%
• Equity multiple: 1.41×
• Total profit: $12,572
• Equity at exit: $16,401

10-year hold

• IRR: 21.5%
• Equity multiple: 3.10×
• Total profit: $64,562
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$577
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $404

Break-even live

Break-even rent $926

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $466	-5% $435	+0% $404	+5% $373	+10% $341
Rent	-10% $290	-5% $347	+0% $404	+5% $460	+10% $517
Rate	-1.0pp $459	-0.5pp $432	base $404	+0.5pp $375	+1.0pp $346

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 31 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	0.37mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	18d	1	0.57mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	18d	1	0.63mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.75mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	0.78mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	0.82mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	18d	1	0.86mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.89mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	0.92mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	1.03mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.06mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	1.06mi
17368 Woodingham Dr Detroit, MI	3.0	1.5	1200	$1,800	$1.50	44d	1	1.14mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	18d	1	1.15mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.15mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.18mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	1.25mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	1.28mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	1.28mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	1.28mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.28mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	1.28mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	1.31mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	1.33mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	1.35mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	1.35mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.38mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	1.40mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.41mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	1.43mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	1.43mi

Listing history 50 events

1. 2026-06-18
   days on market $110,000 Active 134 DOM
2. 2026-06-17
   days on market $110,000 Active 133 DOM
3. 2026-06-15
   days on market $110,000 Active 131 DOM
4. 2026-06-13
   days on market $110,000 Active 129 DOM
5. 2026-06-13
   days on market $110,000 Active 128 DOM
6. 2026-06-09
   days on market $110,000 Active 125 DOM
7. 2026-06-08
   days on market $110,000 Active 124 DOM
8. 2026-06-07
   days on market $110,000 Active 123 DOM
9. 2026-06-04
   days on market $110,000 Active 120 DOM
10. 2026-06-03
    days on market $110,000 Active 119 DOM
11. 2026-06-01
    days on market $110,000 Active 117 DOM
12. 2026-05-31
    days on market $110,000 Active 116 DOM
13. 2026-04-16
    price $110,000 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

14. 2026-04-15
    price $110,000 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

15. 2026-02-26
    price $133,000 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

16. 2026-02-25
    price $125,000 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

17. 2026-02-25
    price $133,000 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

18. 2026-02-25
    price $125,000 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

19. 2026-02-01
    listed $145,000 Active 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

20. 2026-02-01
    listed $145,000 Active 250-char remark

    Show marketing remark (250 chars)

    This brick home features four bedroom and three bathrooms with a finished basement. It has many updates inside the interior including the kitchen. The exterior has a privacy fence and two car garage. Come and check this one out, it is priced to sell!

21. 2024-02-16
    historical
22. 2024-02-15
    historical
23. 2024-01-09
    status Active
24. 2024-01-09
    status Active
25. 2024-01-01
    historical
26. 2024-01-01
    historical
27. 2023-09-30
    status Active
28. 2023-09-30
    status Active
29. 2023-07-27
    status Pending
30. 2023-07-27
    status Pending
31. 2023-07-06
    price $93,999
32. 2023-07-06
    price $93,999
33. 2023-06-25
    price $99,999
34. 2023-06-25
    price $99,999
35. 2023-06-25
    status Active
36. 2023-06-25
    status Active
37. 2023-06-12
    status Pending
38. 2023-06-12
    status Pending
39. 2023-06-05
    historical Accepting Backup Offers
40. 2023-06-05
    historical Accepting Backup Offers
41. 2023-05-05
    status Active
42. 2023-05-05
    status Active
43. 2023-04-30
    status Pending
44. 2023-04-30
    status Pending
45. 2023-03-21
    listed $105,000 Active
46. 2023-03-21
    listed $105,000 Active
47. 2016-08-23
    historical
48. 2016-08-23
    historical
49. 2016-02-22
    listed $17,800 Active
50. 2016-02-22
    listed $17,800 Active

ⓘ 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: $1,304 · $109/mo
• Projected year-2 tax: $1,499 · $125/mo
• Expected delta: +$195/yr (+$16/mo · 15.0%)

ⓘ 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 ≥97°F today · 15 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: $17,241
• − Mortgage interest: −$6,162
• − Property taxes: −$1,304
• − Insurance: −$550
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − Depreciation: −$3,200
• Taxable income: $3,267
• Est. tax owed @ 24.0%: −$784
• After-tax cash flow: $4,060/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

+423.8% since first listed

52 events — show timeline

• 2026-04-16 Price Changed $110,000 MiRealSource-MiMLS
• 2026-04-15 Price Changed $110,000 REALCOMP
• 2026-02-26 Price Changed $133,000 MiRealSource-MiMLS
• 2026-02-25 Price Changed $125,000 MiRealSource-MiMLS
• 2026-02-25 Price Changed $133,000 REALCOMP
• 2026-02-25 Price Changed $125,000 REALCOMP
• 2026-02-01 Listed $145,000 REALCOMP
• 2026-02-01 Listed $145,000 MiRealSource-MiMLS
• 2024-02-16 Listing Removed — MiRealSource-MiMLS
• 2024-02-15 Listing Removed — REALCOMP
• 2024-01-09 Relisted — MiRealSource-MiMLS
• 2024-01-09 Relisted — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-09-30 Relisted — MiRealSource-MiMLS
• 2023-09-30 Relisted — REALCOMP
• 2023-07-27 Pending — MiRealSource-MiMLS
• 2023-07-27 Pending — REALCOMP
• 2023-07-06 Price Changed $93,999 MiRealSource-MiMLS
• 2023-07-06 Price Changed $93,999 REALCOMP
• 2023-06-25 Price Changed $99,999 MiRealSource-MiMLS
• 2023-06-25 Price Changed $99,999 REALCOMP
• 2023-06-25 Relisted — MiRealSource-MiMLS
• 2023-06-25 Relisted — REALCOMP
• 2023-06-12 Pending — MiRealSource-MiMLS
• 2023-06-12 Pending — REALCOMP
• 2023-06-05 Contingent — MiRealSource-MiMLS
• 2023-06-05 Contingent — REALCOMP
• 2023-05-05 Relisted — MiRealSource-MiMLS
• 2023-05-05 Relisted — REALCOMP
• 2023-04-30 Pending — MiRealSource-MiMLS
• 2023-04-30 Pending — REALCOMP
• 2023-03-21 Listed $105,000 MiRealSource-MiMLS
• 2023-03-21 Listed $105,000 REALCOMP
• 2016-08-23 Listing Removed — REALCOMP
• 2016-08-23 Listing Removed — MiRealSource-MiMLS
• 2016-02-22 Listed $17,800 MiRealSource-MiMLS
• 2016-02-22 Listed $17,800 REALCOMP
• 2016-02-22 Listing Removed — REALCOMP
• 2016-02-22 Listing Removed — MiRealSource-MiMLS
• 2016-01-07 Price Changed $17,900 MiRealSource-MiMLS
• 2016-01-06 Price Changed $17,900 REALCOMP
• 2015-12-15 Price Changed $19,000 MiRealSource-MiMLS
• 2015-12-14 Price Changed $19,000 REALCOMP
• 2015-11-20 Price Changed $20,000 MiRealSource-MiMLS
• 2015-11-19 Price Changed $20,000 REALCOMP
• 2015-11-05 Relisted — MiRealSource-MiMLS
• 2015-11-05 Relisted — REALCOMP
• 2015-10-28 Listing Removed — REALCOMP
• 2015-10-28 Pending — MiRealSource-MiMLS
• 2015-10-23 Listed $21,000 MiRealSource-MiMLS
• 2015-10-23 Listed $21,000 REALCOMP

Property tax history

-0.5%/yr

Latest (2025): $1,304 · -54.8% YoY. Source: county tax records.