15545 Woodbine · Redford, MI 48239

$139,900

2 bd · 1.0 ba · 1,314 sqft · SingleFamily public records · 23 Days on market

Built 1948 6,970 sqft lot Est $172k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Make this your primary residence or investment property * * * . Conveniently located in Redford near Telegraph, on a corner lot, is this quaint two-bedroom bungalow with a den that has sliding patio doors that lead to the deck in the backyard and the garage. Spacious kitchen. Appliances included. Sorry no basement and no central air. Fresh paint and new carpet throughout. All measurements are estimated, buyer/agent to verify all information. Warranty Deed. Sorry no land contracts. * * This property is also listed for rent (mls# 20261020939), whichever happens first, the other will be withdrawn * * . * Listing broker is the Seller. *

Key facts

• Fresh paint
• New carpet
• Deck in the backyard

Tags

• CORNER LOT
• SLIDING PATIO DOORS
• DECK IN THE BACKYARD
• SPACIOUS KITCHEN
• FRESH PAINT
• NEW CARPET

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; One-and-a-half story; Ground-level entry
• Construction: Vinyl siding; Slab foundation
• Exterior features: Paved road access; Pets allowed (cats and dogs)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $41 ($494/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (15.3% below list).
• Recommended offer: $118k (15.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 85% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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

• It's been on market 23 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y 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 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,500 (15.3% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $172,134
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15342 Wormer	0.24mi	2/2.0	1,199 (-9%)	2mo	$65,000	$54	69
16101 Salem St	0.42mi	3/2.0 (+1)	1,333 (+1%)	3mo	$70,000	$53	67
15869 Wormer	0.19mi	2/1.0	1,508 (+15%)	7mo	$85,000	$56	60
16186 Fenton St	0.36mi	2/1.0	1,488 (+13%)	4mo	$60,000	$40	58
24850 Midland	0.36mi	3/1.0 (+1)	1,136 (-14%)	1mo	$161,500	$142	55
15711 Wormer	0.07mi	3/2.5 (+1)	1,508 (+15%)	14mo	$230,000	$153	50
15552 Dixie	0.31mi	3/1.0 (+1)	1,156 (-12%)	15mo	$151,000	$131	48
16166 W Parkway St	0.68mi	3/1.0 (+1)	1,416 (+8%)	4mo	$35,000	$25	48
15847 Knight	0.35mi	3/2.0 (+1)	1,452 (+10%)	14mo	$295,000	$203	46
15920 Bramell St	0.74mi	3/1.0 (+1)	1,409 (+7%)	11mo	$55,000	$39	40
15122 Salem Ct	0.56mi	3/1.5 (+1)	1,139 (-13%)	13mo	$215,000	$189	34
16004 Sumner St	0.73mi	3/1.0 (+1)	1,136 (-14%)	7mo	$155,000	$136	32

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.50×
• Total profit: $-19,776
• Equity at exit: $20,860

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-12,720
• Equity at exit: $12,096

Cash invested: $39,172 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$734
• Tax from tax record: −$103 /mo · $1,237/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $41

Break-even live

Break-even rent $1,133

Max offer price $139,900

Occupancy floor 92%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	4d	1	0.29mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	17d	1	0.30mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	4d	1	0.33mi
16800 Wormer St Detroit, MI	3.0	1.0	912	$1,250	$1.37	17d	1	0.57mi
16896 Salem St Detroit, MI	3.0	1.0	1150	$1,300	$1.13	43d	1	0.73mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	4d	1	0.76mi
17324 Salem St Detroit, MI	2.0	1.0	989	$1,200	$1.21	24d	1	0.97mi
14292 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.00mi
14286 Riverview St Unit HF Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.00mi
14302 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14296 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14294 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14300 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14298 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14262 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14260 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14266 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14268 Riverview St Detroit, MI	2.0	1.0	900	$850	$0.94	43d	1	1.01mi
14264 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14284 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14282 Riverview St Detroit, MI	2.0	1.0	900	$800	$0.89	43d	1	1.01mi
14252 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14310 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14250 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14246 Riverview St Unit RB Detroit, MI	2.0	1.0	900	$895	$0.99	43d	1	1.01mi
14246 Riverview St Unit A Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.01mi
14246 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14244 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14283 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.01mi
14248 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.02mi
14258 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.02mi
14280 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.02mi
14276 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.02mi
14278 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.03mi
14274 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.03mi
14270 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	43d	1	1.03mi
14254 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.03mi
14253 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.03mi
14251 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.03mi
14256 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	43d	1	1.03mi

Listing history 36 events

1. 2026-06-18
   days on market $139,900 Active 23 DOM
2. 2026-06-17
   days on market $139,900 Active 22 DOM
3. 2026-06-16
   days on market $139,900 Active 21 DOM
4. 2026-06-15
   days on market $139,900 Active 20 DOM
5. 2026-06-13
   days on market $139,900 Active 18 DOM
6. 2026-06-13
   days on market $139,900 Active 17 DOM
7. 2026-06-09
   days on market $139,900 Active 14 DOM
8. 2026-06-08
   days on market $139,900 Active 13 DOM
9. 2026-06-07
   days on market $139,900 Active 12 DOM
10. 2026-06-04
    days on market $139,900 Active 9 DOM
11. 2026-06-03
    days on market $139,900 Active 8 DOM
12. 2026-06-02
    days on market $139,900 Active 7 DOM
13. 2026-06-01
    remarks 657-char remark
14. 2026-06-01
    days on market $139,900 Active 6 DOM
15. 2026-05-31
    days on market $139,900 Active 5 DOM
16. 2026-05-26
    listed $139,900 Active
17. 2026-05-24
    listed $139,900 Active 652-char remark

    Show marketing remark (652 chars)

    * * * Make this your primary residence or investment property * * * . Conveniently located in Redford near Telegraph, on a corner lot, is this quaint two-bedroom bungalow with a den that has sliding patio doors that lead to the deck in the backyard and the garage. Spacious kitchen. Appliances included. Sorry no basement and no central air. Fresh paint and new carpet throughout. All measurements are estimated, buyer/agent to verify all information. Warranty Deed. Sorry no land contracts. * * This property is also listed for rent (mls# 20261020939), whichever happens first, the other will be withdrawn * * . * Listing broker is the Seller. *

18. 2026-05-16
    listed $1,350
19. 2026-05-16
    historical $1,350
20. 2026-05-16
    listed $1,350
21. 2026-04-27
    historical $1,350
22. 2026-04-01
    listed $1,350
23. 2017-11-21
    soldstatus $264,000
24. 2011-05-06
    soldstatus $14,000 163-char remark

    Show marketing remark (163 chars)

    HUD Home sold 'As-Is'. FHA #261-879033. FHA insurability code IE, Lead Based Paint notices. Up to 3% commission to selling broker. Access w/ HUD key, show anytime.

25. 2011-05-06
    soldstatus $14,000

    Show marketing remark (163 chars)

    HUD Home sold 'As-Is'. FHA #261-879033. FHA insurability code IE, Lead Based Paint notices. Up to 3% commission to selling broker. Access w/ HUD key, show anytime.

26. 2011-03-18
    historical 163-char remark

    Show marketing remark (163 chars)

    HUD Home sold 'As-Is'. FHA #261-879033. FHA insurability code IE, Lead Based Paint notices. Up to 3% commission to selling broker. Access w/ HUD key, show anytime.

27. 2011-01-25
    listed $14,000 163-char remark

    Show marketing remark (163 chars)

    HUD Home sold 'As-Is'. FHA #261-879033. FHA insurability code IE, Lead Based Paint notices. Up to 3% commission to selling broker. Access w/ HUD key, show anytime.

28. 2011-01-25
    listed $14,000

    Show marketing remark (163 chars)

    HUD Home sold 'As-Is'. FHA #261-879033. FHA insurability code IE, Lead Based Paint notices. Up to 3% commission to selling broker. Access w/ HUD key, show anytime.

29. 2010-09-16
    historical
30. 2009-03-31
    listed $18,900
31. 2009-02-02
    historical
32. 2008-12-09
    listed $59,900
33. 2006-06-13
    historical
34. 2005-10-19
    listed $119,900
35. 2000-07-27
    soldstatus $80,000
36. 1997-09-08
    soldstatus $65,000

ⓘ 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: $1,237 · $103/mo
• Projected year-2 tax: $1,696 · $141/mo
• Expected delta: +$459/yr (+$38/mo · 37.1%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,220
• − Mortgage interest: −$7,837
• − Property taxes: −$1,237
• − Insurance: −$700
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$4,070
• Taxable loss: −$1,898
• Est. tax savings @ 24.0%: +$455
• After-tax cash flow: $949/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+115.2% since first listed

21 events — show timeline

• 2026-05-26 Listed $139,900 REALCOMP
• 2026-05-24 Listed $139,900 MiRealSource-MiMLS
• 2026-05-16 Listed for Rent $1,350 REALSOURCE
• 2026-05-16 Rental Removed $1,350 REALCOMP
• 2026-05-16 Listed for Rent $1,350 REALCOMP
• 2026-04-27 Rental Removed $1,350 REALSOURCE
• 2026-04-01 Listed for Rent $1,350 REALSOURCE
• 2017-11-21 Sold (Public Records) $264,000 Public Records
• 2011-05-06 Sold (MLS) $14,000 REALCOMP
• 2011-05-06 Sold (MLS) $14,000 MiRealSource-MiMLS
• 2011-03-18 Listing Removed — MiRealSource-MiMLS
• 2011-01-25 Listed $14,000 REALCOMP
• 2011-01-25 Listed $14,000 MiRealSource-MiMLS
• 2010-09-16 Listing Removed — REALCOMP
• 2009-03-31 Listed $18,900 REALCOMP
• 2009-02-02 Listing Removed — REALCOMP
• 2008-12-09 Listed $59,900 REALCOMP
• 2006-06-13 Listing Removed — REALCOMP
• 2005-10-19 Listed $119,900 REALCOMP
• 2000-07-27 Sold (Public Records) $80,000 Public Records
• 1997-09-08 Sold (Public Records) $65,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $1,237 · -47.5% YoY. Source: county tax records.