6515 Ashton Ave · Detroit, MI 48228

$135,000

4 bd · 1.0 ba · 672 sqft · SingleFamily public records · 8 Days on market

Built 1941 5,227 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 +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained Three Beds One bath Bungalow House, ready to move in and make it your own home, with the extra large second floor bedroom.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1941

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas heating; Forced air heating system
• Home design: Residential 2-story home; Originally built in 1941; Basement present; Below-grade finished area included
• Construction: Aluminum construction; Basement foundation; Built in 1941
• Exterior features: Aluminum exterior; Paved street access; Frontage approximately 40 feet

Interior

• Kitchen: Entry-level kitchen with ceramic flooring (approx. 10 x 14)
• Bedrooms: Second-level bedroom (9 x 12) with carpet; Entry-level bedroom (10 x 11) with wood flooring; Entry-level bedroom (approx. 10' wide) with wood flooring; Basement bedroom (8 x 10) with concrete floor
• Flooring: Carpet in one bedroom; Wood flooring in living room and two bedrooms; Ceramic flooring in kitchen and bathrooms; Concrete flooring in basement bedroom
• Bathrooms: Two full bathrooms; Entry-level bathroom with ceramic flooring; Basement bathroom with ceramic flooring (approx. 8 x 8)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Finished basement; Total of 8 rooms
• Laundry & utility: Basement (finished) — utility/laundry area implied

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 7.7% 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 soft (-2.3%/yr); 363 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,448/mo this rent would consume 57% of the median local household income ($31k/yr) (locally 4144% 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 $933 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 21y ago; this cycle's ask is 59% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $84k; list at $135k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1941 — 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: 1.07% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $52,416
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6339 Warwick St	0.53mi	3/1.0 (-1)	725 (+8%)	8mo	$75,000	$103	51
7375 Brace St	0.56mi	3/1.0 (-1)	711 (+6%)	10mo	$18,500	$26	50
6167 Faust Ave	0.38mi	3/1.0 (-1)	730 (+9%)	19mo	$55,000	$75	48
7401 Greenview Ave	0.55mi	3/1.5 (-1)	720 (+7%)	21mo	$45,000	$63	38
6394 Westwood St	0.67mi	3/1.0 (-1)	770 (+15%)	2mo	$90,000	$117	38
6374 Grandville Ave	0.61mi	3/1.0 (-1)	720 (+7%)	22mo	$56,000	$78	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.58×
• Total profit: $-16,065
• Equity at exit: $20,129

10-year hold

• IRR: -8.5%
• Equity multiple: 0.54×
• Total profit: $-17,292
• Equity at exit: $11,672

Cash invested: $37,800 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$223 /mo · $2,676/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $157

Break-even live

Break-even rent $1,250

Max offer price $135,000

Occupancy floor 84%

Sensitivity live

Price	-10% $233	-5% $195	+0% $157	+5% $119	+10% $81
Rent	-10% $43	-5% $100	+0% $157	+5% $214	+10% $271
Rate	-1.0pp $225	-0.5pp $191	base $157	+0.5pp $122	+1.0pp $86

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7635 Evergreen Ave Detroit, MI	3.0	1.0	690	$1,350	$1.96	44d	1	1.13mi

Listing history 9 events

1. 2026-06-18
   days on market $135,000 Active 8 DOM
2. 2026-06-17
   days on market $135,000 Active 7 DOM
3. 2026-06-16
   days on market $135,000 Active 6 DOM
4. 2026-06-15
   days on market $135,000 Active 5 DOM
5. 2026-06-13
   days on market $135,000 Active 3 DOM
6. 2026-06-13
   remarks 264-char remark
7. 2026-06-13
   statusdays on marketlisting id $135,000 Active 2 DOM
8. 2026-06-10
   remarks 261-char remark
9. 2026-06-10
   listed $135,000 Coming Soon 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: $2,676 · $223/mo
• Projected year-2 tax: $2,676 · $223/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,381
• − Mortgage interest: −$7,562
• − Property taxes: −$2,676
• − Insurance: −$675
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$3,927
• Taxable loss: −$241
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,942/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+58.8% since first listed

26 events — show timeline

• 2026-06-09 Coming Soon $135,000 MiRealSource-MiMLS
• 2024-05-21 Sold (Public Records) $84,000 Public Records
• 2024-05-16 Sold (MLS) $84,000 MiRealSource-MiMLS
• 2024-05-16 Sold (MLS) $84,000 REALCOMP
• 2024-04-27 Pending — MiRealSource-MiMLS
• 2024-04-27 Pending — REALCOMP
• 2024-04-17 Listed $84,900 MiRealSource-MiMLS
• 2024-04-17 Listed $84,900 REALCOMP
• 2023-11-15 Pending — MiRealSource-MiMLS
• 2023-11-15 Pending — REALCOMP
• 2023-11-15 Listing Removed — MiRealSource-MiMLS
• 2023-11-15 Listing Removed — REALCOMP
• 2023-11-02 Relisted — MiRealSource-MiMLS
• 2023-11-02 Relisted — REALCOMP
• 2023-10-13 Pending — MiRealSource-MiMLS
• 2023-10-13 Pending — REALCOMP
• 2023-09-21 Listed $85,000 MiRealSource-MiMLS
• 2023-09-21 Listed $85,000 REALCOMP
• 2008-06-17 Sold (MLS) $10,700 REALCOMP
• 2008-03-29 Listed $12,900 REALCOMP
• 2008-03-13 Listing Removed — REALCOMP
• 2008-01-22 Listed $27,900 REALCOMP
• 2006-03-09 Listing Removed — REALCOMP
• 2005-10-13 Listed $69,900 REALCOMP
• 2005-09-28 Listing Removed — REALCOMP
• 2005-05-31 Listed $85,000 REALCOMP

Property tax history

+5.7%/yr

Latest (2025): $2,676 · +162.7% YoY. Source: county tax records.