15782 Ardmore St · Detroit, MI 48227

$74,900

3 bd · 1.0 ba · 1,118 sqft · SingleFamily public records · 49 Days on market

Built 1928 3,485 sqft lot $67/sqft · 8% above area Est $61k · 22% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

Key facts

• Brick bungalow
• Cozy kitchen
• Spacious living area

Tags

• BRICK BUNGALOW
• SPACIOUS LIVING AREA
• COZY KITCHEN
• AMPLE STORAGE
• FULL BASEMENT
• PRIVATE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: 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 22d 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 43% 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 $518 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $75k implies a 955% 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 $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.77% ✓
• Cap rate: 14.75%
• Cash-on-cash: 30.22%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (median comp): $61,176
• List price: $74,900
• Delta: 22.43%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15770 Stansbury St	0.12mi	3/1.0	1,100 (-2%)	1mo	$50,000	$45	91
15824 Snowden St	0.39mi	3/1.0	1,127 (+1%)	0mo	$61,000	$54	80
15824 Snowden St	0.39mi	3/1.0	1,127 (+1%)	0mo	$61,000	$54	80
16180 Snowden St	0.45mi	3/1.0	1,137 (+2%)	0mo	$61,000	$54	76
15430 Mark Twain St	0.22mi	3/1.0	1,026 (-8%)	1mo	$95,000	$93	75
16174 Lauder St	0.41mi	3/2.0	1,084 (-3%)	3mo	$102,900	$95	70
16246 Snowden St	0.48mi	3/1.5	1,153 (+3%)	3mo	$58,500	$51	68
15366 Sussex St	0.60mi	3/1.0	1,100 (-2%)	3mo	$105,000	$95	67
15041 Lesure St	0.49mi	3/1.0	1,021 (-9%)	2mo	$50,000	$49	61
16562 Tracey St	0.43mi	3/1.0	1,244 (+11%)	2mo	$60,000	$48	59
16176 Tracey St	0.32mi	3/2.0	1,270 (+14%)	0mo	$70,000	$55	58
16863 Tracey St	0.60mi	3/2.0	1,200 (+7%)	2mo	$165,000	$138	54

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: 27.8%
• Equity multiple: 2.19×
• Total profit: $25,052
• Equity at exit: $11,168

10-year hold

• IRR: 36.8%
• Equity multiple: 4.84×
• Total profit: $80,500
• Equity at exit: $6,476

Cash invested: $20,972 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,322 high
• Mortgage (P&I): −$393
• Tax from tax record: −$93 /mo · $1,111/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $528

Break-even live

Break-even rent $654

Max offer price $74,900

Occupancy floor 55%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	0.08mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	0.20mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	0.30mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.35mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.39mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	17d	1	0.46mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	0.46mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.46mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	17d	1	0.47mi
15468 Sussex St #2 Detroit, MI	2.0	1.0	900	$1,250	$1.39	44d	1	0.53mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.54mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	12d	1	0.55mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	24d	1	0.55mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	24d	1	0.55mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.62mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	0.62mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	0.64mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	44d	1	0.64mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.68mi
15100 Whitcomb St Detroit, MI	2.0	1.0	750	$925	$1.23	44d	1	0.70mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.74mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	3d	1	0.76mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	44d	1	0.76mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	0.79mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	20d	1	0.80mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.81mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	0.84mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.90mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	0.91mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	17d	1	0.98mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.98mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.00mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	1.01mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	1.02mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.02mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	1.04mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	24d	1	1.06mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	1.08mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	17d	1	1.13mi
17150 Meyers Rd Detroit, MI	1.0–2.0	1.0	775	$975	$1.26	44d	2	1.14mi

Listing history 9 events

1. 2026-04-25
   price $74,900 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

2. 2026-04-24
   price $74,900 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

3. 2026-04-21
   status Active 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

4. 2026-04-21
   status Active 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

5. 2026-02-23
   status Pending 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

6. 2026-02-23
   status Pending 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

7. 2026-02-09
   listed $79,900 Active 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

8. 2026-02-09
   listed $79,900 Active 695-char remark

   Show marketing remark (695 chars)

   Welcome to this classic brick bungalow in the City of Detroit offering three bedrooms and a full bath loaded with vintage charm! Step into the spacious living area, creating an inviting ambiance for relaxation and gatherings. Find comfort and convenience in the cozy kitchen with ample storage options. Additional space awaits in the full basement, perfect for storage or future expansion. Enjoy the private fenced backyard featuring a generously sized lot. Don't miss out on this Detroit gem offers the ideal blend of comfort, convenience, and potential. The possibilities are endless for making this your own or reaping the benefits of a wise investment choice. Sold As Is ~WELCOME TO DETROIT~

9. 1999-02-16
   soldstatus $7,100

ⓘ 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: $1,111 · $93/mo
• Projected year-2 tax: $1,132 · $94/mo
• Expected delta: +$21/yr (+$2/mo · 1.9%)

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 14 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: $15,868
• − Mortgage interest: −$4,196
• − Property taxes: −$1,111
• − Insurance: −$374
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − Depreciation: −$2,179
• Taxable income: $5,469
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $5,024/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

+954.9% since first listed

9 events — show timeline

• 2026-04-25 Price Changed $74,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $74,900 REALCOMP
• 2026-04-21 Relisted — MiRealSource-MiMLS
• 2026-04-21 Relisted — REALCOMP
• 2026-02-23 Pending — MiRealSource-MiMLS
• 2026-02-23 Pending — REALCOMP
• 2026-02-09 Listed $79,900 REALCOMP
• 2026-02-09 Listed $79,900 MiRealSource-MiMLS
• 1999-02-16 Sold (Public Records) $7,100 Public Records

Property tax history

-5.4%/yr

Latest (2025): $1,111 · -8.5% YoY. Source: county tax records.