15778 Auburn St · Detroit, MI 48223

$29,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 89 Days on market

Built 1939 5,663 sqft lot ↓ 45% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Restore this charming brick house located in Minock Park sub just minutes from popular Rosedale Park neighborhood. Convenient access to neighborhood amenities and an excellent opportunity for builders, developers, or long-term investors. Room sizes are estimated and buyer to verify. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

Key facts

• 5,663 sq ft lot
• Garage
• Built 1939

Property features AI

Exterior

• Parking: Detached garage with direct access and driveway (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 44 x 131.7 (0.13 acre)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $882 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Recommended offer: $27k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.8% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% 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 $200 of loan paydown is wiped out by about $870 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 4 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 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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. 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?
8. 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.
9. 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.
10. 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: 4.73% ✓
• Cap rate: 42.79%
• Cash-on-cash: 130.36%
• DSCR: 6.80
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $123,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15776 Evergreen Rd	0.13mi	3/1.0	1,122 (-5%)	4mo	$60,000	$53	83
15751 Vaughan St	0.21mi	3/1.5	1,244 (+6%)	2mo	$110,000	$88	76
15754 Evergreen Rd	0.13mi	3/1.0	1,091 (-7%)	9mo	$67,000	$61	74
15776 Vaughan St	0.18mi	3/1.5	1,255 (+7%)	9mo	$165,000	$131	71
15518 Kentfield St	0.31mi	3/1.5	1,092 (-7%)	4mo	$165,500	$152	68
15340 Heyden St	0.38mi	3/1.0	1,125 (-4%)	9mo	$87,000	$77	67
15836 Patton St	0.45mi	3/1.0	1,122 (-5%)	6mo	$42,500	$38	66
15452 Stout St	0.39mi	3/1.0	1,110 (-6%)	8mo	$152,000	$137	66
16122 Trinity St	0.70mi	3/2.5	1,152 (-2%)	4mo	$169,900	$147	55
15873 Kentfield St	0.33mi	3/2.0	1,312 (+12%)	10mo	$200,000	$152	53
14895 Evergreen Rd	0.63mi	3/1.0	1,079 (-8%)	9mo	$63,000	$58	49
17127 Shaftsbury Ave	0.71mi	3/1.5	1,283 (+9%)	2mo	$135,000	$105	48

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: —
• Equity multiple: 7.34×
• Total profit: $51,503
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 15.44×
• Total profit: $117,276
• Equity at exit: $2,507

Cash invested: $8,120 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $435/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $882

Break-even live

Break-even rent $254

Max offer price $29,000

Occupancy floor 31%

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	24d	1	0.04mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	43d	1	0.15mi
15815 Evergreen Rd Detroit, MI	3.0	1.0	1350	$1,300	$0.96	43d	1	0.15mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	16d	1	0.17mi
15712 Vaughan St Detroit, MI	3.0	1.0	1280	$1,400	$1.09	15d	1	0.20mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	43d	1	0.43mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	15d	1	0.46mi
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	5d	1	0.58mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	17d	1	0.69mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	43d	1	0.82mi
17238 Shaftsbury Ave Detroit, MI	3.0	1.0	1200	$1,550	$1.29	43d	1	0.82mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	16d	1	0.87mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.88mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	0.98mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	43d	1	1.04mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	1.12mi
17255 Westbrook St Detroit, MI	3.0	2.0	1500	$1,450	$0.97	11d	1	1.13mi
14716 Archdale St Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.13mi
17624 Patton St Detroit, MI	3.0	1.0	1260	$1,695	$1.35	43d	1	1.14mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	16d	1	1.14mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	24d	2	1.17mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	43d	2	1.17mi
17654 Greenview Ave Detroit, MI	4.0	1.0	1377	$1,350	$0.98	16d	1	1.18mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	43d	1	1.19mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	1.19mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	16d	1	1.19mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	24d	1	1.21mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	1.24mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	24d	1	1.25mi
15736 Biltmore St Detroit, MI	3.0	1.5	1000	$1,200	$1.20	16d	1	1.26mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	16d	1	1.32mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	1.33mi
18450 Edinborough Rd Detroit, MI	3.0	1.0	1000	$1,500	$1.50	43d	1	1.34mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	16d	1	1.36mi
18461 Heyden St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	5d	1	1.37mi
18452 Shaftsbury Ave Detroit, MI	3.0	1.0	927	$1,500	$1.62	16d	1	1.37mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	1.37mi
17721 Westbrook St Detroit, MI	4.0	1.0	1040	$1,125	$1.08	24d	1	1.39mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	24d	1	1.40mi
14177 Bentler St Detroit, MI	4.0	1.0	1000	$1,475	$1.48	43d	1	1.43mi

Listing history 9 events

1. 2026-04-19
   historical Active Under Contract

   Show marketing remark (945 chars)

   Restore this charming brick house located in Minock Park sub just minutes from popular Rosedale Park neighborhood. Convenient access to neighborhood amenities and an excellent opportunity for builders, developers, or long-term investors. Room sizes are estimated and buyer to verify. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

2. 2026-04-19
   historical Accepting Backup Offers 945-char remark

   Show marketing remark (945 chars)

   Restore this charming brick house located in Minock Park sub just minutes from popular Rosedale Park neighborhood. Convenient access to neighborhood amenities and an excellent opportunity for builders, developers, or long-term investors. Room sizes are estimated and buyer to verify. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

3. 2026-02-27
   listed $29,000 Active

   Show marketing remark (945 chars)

   Restore this charming brick house located in Minock Park sub just minutes from popular Rosedale Park neighborhood. Convenient access to neighborhood amenities and an excellent opportunity for builders, developers, or long-term investors. Room sizes are estimated and buyer to verify. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

4. 2026-02-27
   listed $29,000 Active 945-char remark

   Show marketing remark (945 chars)

   Restore this charming brick house located in Minock Park sub just minutes from popular Rosedale Park neighborhood. Convenient access to neighborhood amenities and an excellent opportunity for builders, developers, or long-term investors. Room sizes are estimated and buyer to verify. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

5. 2015-04-01
   historical
6. 2015-01-29
   historical
7. 2014-09-29
   listed $11,500 Active
8. 2014-09-29
   listed $11,500
9. 1994-12-29
   soldstatus $52,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,443
• − Mortgage interest: −$1,624
• − Property taxes: −$435
• − Insurance: −$145
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$844
• Taxable income: $10,764
• Est. tax owed @ 24.0%: −$2,583
• After-tax cash flow: $8,002/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

-45.2% since first listed

9 events — show timeline

• 2026-04-19 Contingent — REALCOMP
• 2026-04-19 Contingent — MiRealSource-MiMLS
• 2026-02-27 Listed $29,000 MiRealSource-MiMLS
• 2026-02-27 Listed $29,000 REALCOMP
• 2015-04-01 Listing Removed — MiRealSource-MiMLS
• 2015-01-29 Listing Removed — REALCOMP
• 2014-09-29 Listed $11,500 MiRealSource-MiMLS
• 2014-09-29 Listed $11,500 REALCOMP
• 1994-12-29 Sold (Public Records) $52,900 Public Records

Property tax history

+12.4%/yr

Latest (2025): $3,023 · +0.0% YoY. Source: county tax records.