15780 Lesure St · Detroit, MI 48227

$129,900

4 bd · 1.5 ba · 1,516 sqft · SingleFamily public records · 19 Days on market

Built 1930 8,276 sqft lot Est $96k · 36% over

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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 +23.0/30.0
• DSCR +7.4/10.0
• 1% rule +6.5/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

Key facts

• Corner lot
• New roof
• New garage door

Tags

• RENOVATED BRICK COLONIAL
• CORNER LOT
• REFINISHED HARDWOOD FLOORS
• NEW ROOF
• NEW GARAGE DOOR
• NEW BLINDS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% 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 (+5.6%/yr); 385 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,489/mo this rent would consume 49% of the median local household income ($37k/yr) (locally 2371% 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 $898 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 + 5.6% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 16y 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.
• Current owner paid $55k; list at $130k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $95,508
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15894 Snowden St	0.24mi	3/1.5 (-1)	1,562 (+3%)	4mo	$150,000	$96	75
15788 Littlefield St	0.27mi	3/1.0 (-1)	1,608 (+6%)	4mo	$95,000	$59	67
16631 Sorrento St	0.61mi	4/2.0	1,537 (+1%)	3mo	$154,400	$100	65
15841 Steel St	0.47mi	3/1.0 (-1)	1,460 (-4%)	1mo	$50,000	$34	64
16627 Appoline St	0.68mi	4/1.5	1,544 (+2%)	4mo	$64,000	$41	62
16265 Ardmore St	0.36mi	3/1.0 (-1)	1,333 (-12%)	4mo	$49,000	$37	53
15103 Cheyenne St	0.51mi	4/2.0	1,317 (-13%)	4mo	$121,500	$92	49
14905 Littlefield St	0.64mi	3/1.0 (-1)	1,368 (-10%)	1mo	$52,000	$38	46
16516 Appoline St	0.64mi	3/1.0 (-1)	1,350 (-11%)	1mo	$39,500	$29	44
16862 Sorrento St	0.69mi	3/1.0 (-1)	1,387 (-8%)	4mo	$116,000	$84	43
14845 Freeland St	0.69mi	4/1.5	1,741 (+15%)	1mo	$110,000	$63	42
14974 Cheyenne St	0.62mi	3/2.5 (-1)	1,300 (-14%)	4mo	$155,000	$119	36

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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,316
• Equity at exit: $19,369

10-year hold

• IRR: 10.8%
• Equity multiple: 1.94×
• Total profit: $34,351
• Equity at exit: $11,231

Cash invested: $36,372 (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 48227

• Rents YoY: 5.6%
• Active inventory: 385
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$681
• Tax from tax record: −$210 /mo · $2,524/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $231

Break-even live

Break-even rent $1,197

Max offer price $129,900

Occupancy floor 80%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.24mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	0.28mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	10d	1	0.35mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	43d	1	0.35mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	43d	1	0.43mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.59mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	0.63mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	14d	1	0.65mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	0.77mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	0.82mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	4d	1	0.88mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.97mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	1.01mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	14d	1	1.05mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	1.09mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	17d	1	1.15mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	19d	1	1.15mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	19d	1	1.16mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	1.16mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	4d	1	1.18mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	43d	1	1.21mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	1.24mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	16d	1	1.26mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	43d	1	1.26mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	43d	1	1.31mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	24d	1	1.32mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	1.32mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	43d	1	1.34mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	1d	1	1.35mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	4d	1	1.36mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	1.45mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	1.46mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	1.47mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	17d	1	1.48mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	16d	1	1.49mi

Listing history 47 events

1. 2026-03-14
   status Pending 252-char remark

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

2. 2026-03-14
   status Pending 252-char remark

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

3. 2026-03-14
   status Pending

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

4. 2026-03-14
   historical Active - Backup Offers Accepted

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

5. 2026-02-26
   historical $1,700
6. 2026-02-23
   listed $129,900 Active 252-char remark

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

7. 2026-02-23
   listed $129,900 Active 252-char remark

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

8. 2026-02-23
   listed $129,900 Active

   Show marketing remark (252 chars)

   Welcome home!This large 4 bedroom 2 bath renovated Brick Colonial located on a corner lot is ready for move in. The home boasts fresh paint throughout, refinished hardwood floors, new roof on house and garage, new garage door and new blinds throughout.

9. 2026-01-31
   price $1,700
10. 2026-01-28
    listed $1,650
11. 2025-01-05
    historical $1,625
12. 2024-12-03
    listed $1,625
13. 2024-09-26
    soldstatus $55,000
14. 2024-09-23
    soldstatus $55,000 Sold
15. 2024-09-23
    soldstatus $55,000 Sold
16. 2024-09-23
    soldstatus $55,000 Closed
17. 2024-08-22
    status Pending
18. 2024-08-22
    status Pending
19. 2024-08-22
    status Pending
20. 2024-08-19
    price $65,000
21. 2024-08-19
    price $65,000
22. 2024-08-19
    price $65,000
23. 2024-08-16
    price $70,000
24. 2024-08-15
    price $70,000
25. 2024-08-15
    price $70,000
26. 2024-07-26
    listed $75,000 Active
27. 2024-07-26
    listed $75,000 Active
28. 2024-07-26
    listed $75,000 Active
29. 2024-07-25
    historical $75,000
30. 2024-07-25
    historical $75,000
31. 2024-07-25
    historical $75,000
32. 2014-04-25
    soldstatus $5,500
33. 2014-04-25
    soldstatus $5,500
34. 2014-04-25
    soldstatus $5,500
35. 2014-03-18
    historical
36. 2014-03-18
    historical
37. 2014-03-14
    listed $5,900
38. 2014-03-11
    listed $5,900
39. 2014-03-11
    listed $5,900
40. 2012-12-31
    historical
41. 2012-12-31
    historical
42. 2011-01-04
    listed $10,000
43. 2011-01-04
    listed $10,000
44. 2011-01-04
    historical
45. 2011-01-04
    historical
46. 2010-10-06
    listed $20,000
47. 2010-10-06
    listed $20,000

ⓘ 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: $2,524 · $210/mo
• Projected year-2 tax: $2,524 · $210/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 ≥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: $17,871
• − Mortgage interest: −$7,276
• − Property taxes: −$2,524
• − Insurance: −$650
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$3,779
• Taxable income: $782
• Est. tax owed @ 24.0%: −$188
• After-tax cash flow: $2,582/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

-91.5% since first listed

47 events — show timeline

• 2026-03-14 Pending — REALCOMP
• 2026-03-14 Pending — MiRealSource-MiMLS
• 2026-03-14 Pending — SW Michigan MLS
• 2026-03-14 Contingent — SW Michigan MLS
• 2026-02-26 Rental Removed $1,700 APPFOLIO
• 2026-02-23 Listed $129,900 REALCOMP
• 2026-02-23 Listed $129,900 SW Michigan MLS
• 2026-02-23 Listed $129,900 MiRealSource-MiMLS
• 2026-01-31 Price Changed $1,700 APPFOLIO
• 2026-01-28 Listed for Rent $1,650 APPFOLIO
• 2025-01-05 Rental Removed $1,625 APPFOLIO
• 2024-12-03 Listed for Rent $1,625 APPFOLIO
• 2024-09-26 Sold (Public Records) $55,000 Public Records
• 2024-09-23 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2024-09-23 Sold (MLS) $55,000 SW Michigan MLS
• 2024-09-23 Sold (MLS) $55,000 REALCOMP
• 2024-08-22 Pending — REALCOMP
• 2024-08-22 Pending — MiRealSource-MiMLS
• 2024-08-22 Pending — SW Michigan MLS
• 2024-08-19 Price Changed $65,000 MiRealSource-MiMLS
• 2024-08-19 Price Changed $65,000 REALCOMP
• 2024-08-19 Price Changed $65,000 SW Michigan MLS
• 2024-08-16 Price Changed $70,000 MiRealSource-MiMLS
• 2024-08-15 Price Changed $70,000 REALCOMP
• 2024-08-15 Price Changed $70,000 SW Michigan MLS
• 2024-07-26 Listed $75,000 MiRealSource-MiMLS
• 2024-07-26 Listed $75,000 REALCOMP
• 2024-07-26 Listed $75,000 SW Michigan MLS
• 2024-07-25 Coming Soon $75,000 REALCOMP
• 2024-07-25 Coming Soon $75,000 MiRealSource-MiMLS
• 2024-07-25 Coming Soon $75,000 SW Michigan MLS
• 2014-04-25 Sold (MLS) $5,500 MiRealSource-MiMLS
• 2014-04-25 Sold (MLS) $5,500 REALCOMP
• 2014-04-25 Sold (MLS) $5,500 MiRealSource-MiMLS
• 2014-03-18 Listing Removed — MiRealSource-MiMLS
• 2014-03-18 Listing Removed — MiRealSource-MiMLS
• 2014-03-14 Listed $5,900 MiRealSource-MiMLS
• 2014-03-11 Listed $5,900 REALCOMP
• 2014-03-11 Listed $5,900 MiRealSource-MiMLS
• 2012-12-31 Listing Removed — REALCOMP
• 2012-12-31 Listing Removed — MiRealSource-MiMLS
• 2011-01-04 Listing Removed — REALCOMP
• 2011-01-04 Listing Removed — MiRealSource-MiMLS
• 2011-01-04 Listed $10,000 REALCOMP
• 2011-01-04 Listed $10,000 MiRealSource-MiMLS
• 2010-10-06 Listed $20,000 REALCOMP
• 2010-10-06 Listed $20,000 MiRealSource-MiMLS

Property tax history

+3.1%/yr

Latest (2025): $2,524 · +55.3% YoY. Source: county tax records.