15036 Tracey St · Detroit, MI 48227

$105,000

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 9 Days on market

Built 1928 3,485 sqft lot

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Why this score? — see what drove the C+ 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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• 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

Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

Key facts

• 3,485 sq ft lot
• Garage
• Built 1928

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

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; 40 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).
• This rent runs 42% of the median local income ($37k/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 $726 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 + 5.6% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

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. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.10%
• DSCR: 1.63
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $61,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15041 Lesure St	0.08mi	3/1.0	1,021 (+3%)	2mo	$50,000	$49	89
15430 Mark Twain St	0.42mi	3/1.0	1,026 (+4%)	1mo	$95,000	$93	73
14565 Hartwell St	0.34mi	3/1.0	900 (-9%)	3mo	$65,000	$72	67
15770 Stansbury St	0.46mi	3/1.0	1,100 (+11%)	1mo	$50,000	$45	59
16150 Cruse St	0.68mi	2/1.0 (-1)	966 (-2%)	4mo	$40,000	$41	56
15732 Manor St	0.72mi	3/1.0	930 (-6%)	3mo	$50,000	$54	54
15775 Hartwell St	0.45mi	3/1.0	1,123 (+14%)	3mo	$88,000	$78	54
15756 Meyers Rd	0.69mi	2/1.0 (-1)	946 (-4%)	4mo	$65,000	$69	53
15754 Meyers Rd	0.69mi	2/1.0 (-1)	946 (-4%)	4mo	$65,000	$69	52
15824 Snowden St	0.53mi	3/1.0	1,127 (+14%)	0mo	$61,000	$54	51
15824 Snowden St	0.53mi	3/1.0	1,127 (+14%)	0mo	$61,000	$54	51
14421 Marlowe St	0.68mi	4/1.0 (+1)	1,060 (+7%)	3mo	$66,000	$62	49

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: 7.1%
• Equity multiple: 1.28×
• Total profit: $8,366
• Equity at exit: $15,656

10-year hold

• IRR: 18.4%
• Equity multiple: 2.71×
• Total profit: $50,240
• Equity at exit: $9,078

Cash invested: $29,400 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,272 high
• Mortgage (P&I): −$551
• Tax from tax record: −$65 /mo · $776/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $345

Break-even live

Break-even rent $834

Max offer price $105,000

Occupancy floor 68%

Sensitivity live

Price	-10% $405	-5% $375	+0% $345	+5% $316	+10% $286
Rent	-10% $245	-5% $295	+0% $345	+5% $396	+10% $446
Rate	-1.0pp $398	-0.5pp $372	base $345	+0.5pp $318	+1.0pp $291

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.16mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	17d	1	0.16mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	0.19mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.19mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.32mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.33mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	17d	1	0.41mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	0.54mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	0.54mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	21d	1	0.55mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	0.61mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	0.61mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.70mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	13d	1	0.70mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	0.70mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	0.70mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.76mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	0.77mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	0.77mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	0.79mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	44d	1	0.80mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.81mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	44d	1	0.81mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.81mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.83mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.83mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.93mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	0.93mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	1.05mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	17d	1	1.11mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.19mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	17d	1	1.20mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	44d	1	1.23mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	44d	1	1.24mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	1.26mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	1.31mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	1.36mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	1.37mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	17d	1	1.37mi
14753 Saint Marys St Detroit, MI	2.0	1.0	900	$1,150	$1.28	5d	1	1.40mi

Listing history 12 events

1. 2024-12-17
   status Pending
2. 2024-03-28
   soldstatus $107,000
3. 2024-02-17
   status Pending 740-char remark

   Show marketing remark (740 chars)

   Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

4. 2024-02-17
   status Pending

   Show marketing remark (740 chars)

   Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

5. 2024-02-09
   listed $105,000 Active 740-char remark

   Show marketing remark (740 chars)

   Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

6. 2024-02-09
   listed $105,000 Active

   Show marketing remark (740 chars)

   Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

7. 2024-02-06
   historical $105,000 740-char remark

   Show marketing remark (740 chars)

   Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

8. 2024-02-06
   historical $105,000

   Show marketing remark (740 chars)

   Discover the epitome of spacious living at 15036 Tracey St in Detroit. This fully remodeled residence offers an expansive layout featuring 4 bedrooms, 2 full bathrooms, a cozy family room, and a well-appointed kitchen space with new windows throughout the house! With room to roam and relax, this home beckons families and entertainers alike. Situated in a prime location, enjoy easy access to parks, schools, freeway routes, and other essential amenities. The detached garage provides additional storage or workshop space, catering to your every need. Priced to sell, seize the opportunity to own this meticulously updated home. Don't miss out – schedule your viewing today and experience the allure of this Detroit gem!

9. 2004-02-23
   soldstatus $96,000
10. 2003-02-28
    soldstatus $22,803
11. 2002-07-24
    listed $35,900
12. 2001-10-09
    soldstatus $32,245

ⓘ 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: $776 · $65/mo
• Projected year-2 tax: $1,197 · $100/mo
• Expected delta: +$420/yr (+$35/mo · 54.2%)

ⓘ 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: $15,259
• − Mortgage interest: −$5,882
• − Property taxes: −$776
• − Insurance: −$525
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$3,055
• Taxable income: $2,580
• Est. tax owed @ 24.0%: −$619
• After-tax cash flow: $3,526/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

+231.8% since first listed

12 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2024-03-28 Sold (Public Records) $107,000 Public Records
• 2024-02-17 Pending — MiRealSource-MiMLS
• 2024-02-17 Pending — REALCOMP
• 2024-02-09 Listed $105,000 MiRealSource-MiMLS
• 2024-02-09 Listed $105,000 REALCOMP
• 2024-02-06 Coming Soon $105,000 MiRealSource-MiMLS
• 2024-02-06 Coming Soon $105,000 REALCOMP
• 2004-02-23 Sold (Public Records) $96,000 Public Records
• 2003-02-28 Sold (MLS) $22,803 REALCOMP
• 2002-07-24 Listed $35,900 REALCOMP
• 2001-10-09 Sold (Public Records) $32,245 Public Records

Property tax history

+6.6%/yr

Latest (2025): $776 · +11.0% YoY. Source: county tax records.