15802 Mansfield St · Detroit, MI 48227

$149,777

4 bd · 1.5 ba · 1,522 sqft · SingleFamily public records · 1 Days on market

Built 1928 4,792 sqft lot

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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 +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.4/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 4-bedroom, 2-bath brick bungalow offering a functional layout and plenty of space both inside and out. The home features hardwood flooring, an updated kitchen, updated bathrooms, and a finished basement that provides additional living space for entertaining, hobbies, or recreation. Step outside to enjoy the spacious backyard with a deck and a basketball court, providing a great setting for outdoor activities. A detached 2-car garage offers additional storage and parking convenience. Conveniently located near local amenities, schools, parks, and major roadways. Buyer and buyer's agent to independently verify all information, measurements, and features.

Key facts

• Hardwood flooring
• Spacious backyard
• Finished basement

Tags

• HARDWOOD FLOORING
• UPDATED KITCHEN
• FINISHED BASEMENT
• SPACIOUS BACKYARD
• BASKETBALL COURT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential; Two levels; Ground-level entry with steps; Brick construction
• Construction: Brick foundation (brick/mortar)
• Exterior features: Deck; Porch; Paved road access

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Living room fireplace; Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 7.5% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 34 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 $1,551/mo this rent would consume 51% 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 $1k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 23y 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 $10k; list at $150k implies a 1413% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,777

Questions for the listing agent

1. Built in 1928 — 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: 1.04% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $79,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15357 Rutherford St	0.29mi	3/1.5 (-1)	1,592 (+5%)	2mo	$45,000	$28	72
15530 Winthrop St	0.29mi	3/1.0 (-1)	1,573 (+3%)	3mo	$60,000	$38	71
15482 Rutherford St	0.18mi	3/1.0 (-1)	1,653 (+9%)	0mo	$65,000	$39	70
15501 Whitcomb St	0.45mi	4/1.5	1,609 (+6%)	1mo	$90,000	$56	68
15727 Mansfield St	0.11mi	3/1.5 (-1)	1,300 (-15%)	3mo	$55,000	$42	63
16601 Ferguson St	0.42mi	3/2.5 (-1)	1,625 (+7%)	1mo	$189,900	$117	60
17130 Mansfield St	0.66mi	3/2.0 (-1)	1,559 (+2%)	0mo	$185,000	$119	58
16533 Harlow St	0.60mi	3/1.5 (-1)	1,385 (-9%)	2mo	$83,989	$61	51
15868 Whitcomb St	0.47mi	3/1.0 (-1)	1,332 (-12%)	2mo	$95,000	$71	48
14689 Forrer St	0.74mi	3/1.5 (-1)	1,627 (+7%)	3mo	$65,000	$40	46
15328 Prest St E	0.52mi	3/1.5 (-1)	1,298 (-15%)	3mo	$66,999	$52	44
14736 Mansfield St	0.66mi	3/1.0 (-1)	1,318 (-13%)	0mo	$62,000	$47	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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-10,546
• Equity at exit: $22,332

10-year hold

• IRR: 6.1%
• Equity multiple: 1.51×
• Total profit: $21,229
• Equity at exit: $12,950

Cash invested: $41,938 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,551 high
• Mortgage (P&I): −$785
• Tax from tax record: −$228 /mo · $2,735/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $150

Break-even live

Break-even rent $1,362

Max offer price $149,777

Occupancy floor 85%

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: $37,444
• Closing costs: $4,493
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	0.06mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.09mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	0.32mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	17d	1	0.34mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	0.34mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	0.53mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	20d	1	0.57mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	44d	1	0.60mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	15d	1	0.62mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.63mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.63mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	2d	1	0.69mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.72mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	0.75mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	44d	1	0.76mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	0.87mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	44d	1	0.88mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	0.94mi
16757 Greenview Ave Unit 1A Detroit, MI	3.0	1.5	1600	$1,500	$0.94	5d	1	1.08mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.16mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	44d	1	1.17mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	1.17mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	44d	1	1.18mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	18d	1	1.22mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	1.22mi
18400 Rutherford St Detroit, MI	3.0	1.0	1050	$1,400	$1.33	3d	1	1.24mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	3d	1	1.31mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	1.33mi
18481 Prest St Detroit, MI	3.0	1.5	1100	$1,300	$1.18	19d	1	1.36mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	17d	1	1.41mi
18675 Forrer St Detroit, MI	3.0	1.0	1200	$1,225	$1.02	5d	1	1.44mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	44d	1	1.47mi
18257 Mark Twain St Detroit, MI	3.0	1.0	1185	$1,507	$1.27	17d	1	1.50mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	24d	1	1.50mi

Listing history 2 events

1. 2026-06-18
   remarks 691-char remark
2. 2026-06-18
   listed $149,777 Active 1 DOM

ⓘ 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: $2,735 · $228/mo
• Projected year-2 tax: $2,735 · $228/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: $18,614
• − Mortgage interest: −$8,390
• − Property taxes: −$2,735
• − Insurance: −$749
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$4,357
• Taxable loss: −$595
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $1,938/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

+28.0% since first listed

27 events — show timeline

• 2026-06-17 Listed $149,777 MiRealSource-MiMLS
• 2026-06-17 Listed $149,777 REALCOMP
• 2026-01-19 Listing Removed — REALCOMP
• 2026-01-19 Listing Removed — MiRealSource-MiMLS
• 2025-11-23 Price Changed $145,000 MiRealSource-MiMLS
• 2025-11-22 Price Changed $145,000 REALCOMP
• 2025-11-04 Listed $150,000 REALCOMP
• 2025-11-04 Listed $150,000 MiRealSource-MiMLS
• 2025-05-20 Listing Removed — MiRealSource-MiMLS
• 2025-05-19 Listing Removed — REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-04-11 Price Changed $137,000 MiRealSource-MiMLS
• 2025-04-11 Relisted — MiRealSource-MiMLS
• 2025-04-11 Price Changed $137,000 REALCOMP
• 2025-04-11 Relisted — REALCOMP
• 2025-04-11 Price Changed $150,000 REALCOMP
• 2025-04-11 Price Changed $137,000 REALCOMP
• 2025-01-14 Listing Removed — REALCOMP
• 2025-01-14 Listing Removed — MiRealSource-MiMLS
• 2024-11-07 Listed $139,000 REALCOMP
• 2024-11-07 Listed $139,000 MiRealSource-MiMLS
• 2008-07-28 Sold (MLS) $9,900 REALCOMP
• 2008-04-17 Listed $9,900 REALCOMP
• 2004-09-24 Sold (Public Records) $117,000 Public Records
• 2004-06-15 Listing Removed — REALCOMP
• 2003-12-15 Listed $117,000 REALCOMP

Property tax history

+5.6%/yr

Latest (2025): $2,735 · +94.9% YoY. Source: county tax records.