15344 Blackstone St · Detroit, MI 48223

$47,000

3 bd · 1.0 ba · 884 sqft · SingleFamily public records · 129 Days on market

Built 1958 3,920 sqft lot $53/sqft · 19% below area Est $58k · 19% 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 +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

15344 Blackstone Street, Detroit, MI 48223 — Cozy ranch in the Brightmoor area, conveniently located near freeways and shopping. This home offers 3 roomy bedrooms and great natural light through a large picture window. Features include a 1-car garage, laundry/utility room, newer roof, newer PEX plumbing, and updated mechanicals. . A great starter home or investment. Buyer/buyer agent to verify property taxes and room measurements

Key facts

• Brightmoor area
• Great natural light
• Newer roof

Tags

• BRIGHTMOOR AREA
• GREAT NATURAL LIGHT
• NEWER ROOF
• NEWER PEX PLUMBING
• UPDATED MECHANICALS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.8% 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 33% 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 $325 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $41,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1958 — 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: 2.60% ✓
• Cap rate: 22.82%
• Cash-on-cash: 59.03%
• DSCR: 3.63
• GRM: 3.2

CMA / ARV

• ARV (median comp): $57,872
• List price: $47,000
• Delta: -18.79%
• 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
15703 Fielding St	0.37mi	3/1.0	871 (-2%)	9mo	$40,000	$46	73
15421 Westbrook St	0.11mi	2/1.0 (-1)	815 (-8%)	5mo	$31,000	$38	72
15717 Fielding St	0.38mi	3/1.5	867 (-2%)	9mo	$95,000	$110	70
15361 Patton St	0.26mi	3/1.0	950 (+8%)	8mo	$80,000	$84	69
15366 Patton St	0.29mi	3/1.0	809 (-8%)	7mo	$85,000	$105	66
15835 Burgess St	0.44mi	3/1.0	918 (+4%)	9mo	$93,000	$101	66
16115 Burt Rd	0.45mi	2/1.0 (-1)	859 (-3%)	5mo	$57,000	$66	65
15044 Dacosta St	0.61mi	3/1.0	890 (+1%)	11mo	$87,000	$98	61
20511 Lyndon St	0.66mi	3/1.0	896 (+1%)	8mo	$40,000	$45	60
15757 Dacosta St	0.66mi	3/1.0	960 (+9%)	2mo	$65,000	$68	54
15363 Plainview Ave	0.65mi	2/1.0 (-1)	800 (-10%)	5mo	$27,000	$34	45
15859 Braile St	0.42mi	2/1.0 (-1)	1,005 (+14%)	11mo	$40,000	$40	44

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: 57.7%
• Equity multiple: 3.56×
• Total profit: $33,631
• Equity at exit: $7,008

10-year hold

• IRR: 62.5%
• Equity multiple: 7.26×
• Total profit: $82,437
• Equity at exit: $4,064

Cash invested: $13,160 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,221 high
• Mortgage (P&I): −$246
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $647

Break-even live

Break-even rent $402

Max offer price $47,000

Occupancy floor 42%

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	4d	1	0.22mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	43d	1	0.45mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	21d	1	0.59mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	24d	1	0.59mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	14d	1	0.59mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	43d	1	0.63mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	16d	1	0.65mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	43d	1	0.67mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	16d	1	0.70mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	0.77mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	4d	1	0.80mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	16d	1	0.84mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	43d	1	0.87mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	1.02mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	43d	1	1.02mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	24d	2	1.06mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	43d	2	1.06mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	16d	1	1.07mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	43d	1	1.08mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	1.10mi
14280 Bramell St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	16d	1	1.16mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	16d	1	1.26mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	24d	1	1.33mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	43d	1	1.35mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	16d	1	1.36mi
12867 Westbrook St Detroit, MI	2.0	1.0	736	$1,050	$1.43	43d	1	1.36mi
12880 Dolson St Detroit, MI	1.0–2.0	1.0	750	$1,200	$1.60	43d	6	1.39mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	24d	1	1.39mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	17d	1	1.43mi
12850 Dolphin St Detroit, MI	1.0–2.0	1.0	746	$999	$1.34	4d	4	1.44mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	16d	1	1.48mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	24d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $47,000 Active 129 DOM
2. 2026-06-17
   days on market $47,000 Active 128 DOM
3. 2026-06-15
   days on market $47,000 Active 126 DOM
4. 2026-06-13
   days on market $47,000 Active 124 DOM
5. 2026-06-13
   days on market $47,000 Active 123 DOM
6. 2026-06-09
   days on market $47,000 Active 120 DOM
7. 2026-06-08
   days on market $47,000 Active 119 DOM
8. 2026-06-07
   days on market $47,000 Active 118 DOM
9. 2026-06-04
   days on market $47,000 Active 115 DOM
10. 2026-06-03
    days on market $47,000 Active 114 DOM
11. 2026-06-01
    days on market $47,000 Active 112 DOM
12. 2026-05-31
    days on market $47,000 Active 111 DOM
13. 2026-02-10
    listed $47,000 Active 439-char remark

    Show marketing remark (439 chars)

    15344 Blackstone Street, Detroit, MI 48223 — Cozy ranch in the Brightmoor area, conveniently located near freeways and shopping. This home offers 3 roomy bedrooms and great natural light through a large picture window. Features include a 1-car garage, laundry/utility room, newer roof, newer PEX plumbing, and updated mechanicals. . A great starter home or investment. Buyer/buyer agent to verify property taxes and room measurements

14. 2026-02-09
    listed $47,000 Active 435-char remark

    Show marketing remark (435 chars)

    15344 Blackstone Street, Detroit, MI 48223 - Cozy ranch in the Brightmoor area, conveniently located near freeways and shopping. This home offers 3 roomy bedrooms and great natural light through a large picture window. Features include a 1-car garage, laundry/utility room, newer roof, newer PEX plumbing, and updated mechanicals. . A great starter home or investment. Buyer/buyer agent to verify property taxes and room measurements

15. 2012-08-24
    historical
16. 2012-08-24
    historical
17. 2012-06-21
    listed $1,900
18. 2012-06-21
    listed $1,900

ⓘ 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: $614 · $51/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$55/yr (+$5/mo · 9.0%)

ⓘ 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: $14,652
• − Mortgage interest: −$2,633
• − Property taxes: −$614
• − Insurance: −$235
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$1,367
• Taxable income: $7,459
• Est. tax owed @ 24.0%: −$1,790
• After-tax cash flow: $5,979/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

+2373.7% since first listed

6 events — show timeline

• 2026-02-10 Listed $47,000 REALCOMP
• 2026-02-09 Listed $47,000 MiRealSource-MiMLS
• 2012-08-24 Listing Removed — REALCOMP
• 2012-08-24 Listing Removed — MiRealSource-MiMLS
• 2012-06-21 Listed $1,900 REALCOMP
• 2012-06-21 Listed $1,900 MiRealSource-MiMLS

Property tax history

-3.9%/yr

Latest (2025): $614 · +155.7% YoY. Source: county tax records.