15709 Turner St · Detroit, MI 48238

$33,000

4 bd · 2.5 ba · 2,521 sqft · Townhouse public records · 81 Days on market

Built 1928 4,356 sqft lot $13/sqft · 74% below area ↓ 27% 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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT LOCATION. LOCATED ON THE EDGE OF THE UNIVERSITY DISTRICT. BLOCKS AWAY FROM THE DETROIT GOLF CLUB AND UNIVERSITY OF DETROIT MERCY. Beautiful brick Tudor ready for renovations. So many wonderful vintage features. This beauty could be converted to a single-family residence of over 2500+ sq ft or keep it as a duplex. The possibilities are endless. Each floor has TWO BEDROOMS, FAMILY ROOM, DINING ROOM, FIRE PLACE, A FULL BATH, and a KITCHEN. First floor features an extra room off the Dining Room. The second floor features a three-season room with a terrace. Full basement. Many windows let in plenty of natural light. Come and see the potential! ARV - $140,000-$145,000, rent - $1000+ per unit.

Key facts

• University district
• Vintage features
• Great location

Tags

• GREAT LOCATION
• UNIVERSITY DISTRICT
• DETROIT GOLF CLUB
• UNIVERSITY OF DETROIT MERCY
• BRICK TUDOR
• VINTAGE FEATURES

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $33k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $33k).
• Recommended offer: $31k (6.0% below list) — sets the bar for market timing.
• Cap rate 47.8% vs local median 10.0% 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: 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.
• Zoned schools: Mary Mcleod Bethune Elementarymiddle School (706 students, 91% FRL); Mumford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 889 students, 86% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 353 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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).
• At $1,733/mo this rent would consume 62% of the median local household income ($33k/yr) (locally 2172% 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 $228 of loan paydown is wiped out by about $990 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 + 6.1% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts 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 $31,020 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 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 1928 — 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: 5.25% ✓
• Cap rate: 47.78%
• Cash-on-cash: 148.16%
• DSCR: 7.59
• GRM: 1.6

CMA / ARV

• ARV (median comp): $125,647
• List price: $33,000
• Delta: -73.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.90×
• Total profit: $72,987
• Equity at exit: $4,920

10-year hold

• IRR: —
• Equity multiple: 20.69×
• Total profit: $181,941
• Equity at exit: $2,853

Cash invested: $9,240 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 353
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $495/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $1,141

Break-even live

Break-even rent $289

Max offer price $33,000

Occupancy floor 29%

Sensitivity live

Price	-10% $1,164	-5% $1,152	+0% $1,141	+5% $1,129	+10% $1,118
Rent	-10% $1,004	-5% $1,072	+0% $1,141	+5% $1,209	+10% $1,278
Rate	-1.0pp $1,157	-0.5pp $1,149	base $1,141	+0.5pp $1,132	+1.0pp $1,124

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	27d	1	0.33mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	1d	1	0.64mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	46d	1	1.15mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	6d	1	1.16mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	7d	1	1.44mi

Listing history 30 events

1. 2026-06-22
   days on market $33,000 Active Under Contract 81 DOM
2. 2026-06-21
   statusdays on market $33,000 Active Under Contract 80 DOM
3. 2026-06-18
   days on market $33,000 Active 77 DOM
4. 2026-06-17
   days on market $33,000 Active 76 DOM
5. 2026-06-15
   days on market $33,000 Active 74 DOM
6. 2026-06-13
   days on market $33,000 Active 72 DOM
7. 2026-06-13
   days on market $33,000 Active 71 DOM
8. 2026-06-09
   days on market $33,000 Active 68 DOM
9. 2026-06-08
   days on market $33,000 Active 67 DOM
10. 2026-06-07
    days on market $33,000 Active 66 DOM
11. 2026-06-04
    days on market $33,000 Active 63 DOM
12. 2026-06-03
    days on market $33,000 Active 62 DOM
13. 2026-06-02
    days on market $33,000 Active 61 DOM
14. 2026-06-01
    days on market $33,000 Active 60 DOM
15. 2026-05-31
    days on market $33,000 Active 59 DOM
16. 2026-04-15
    status Active 701-char remark

    Show marketing remark (701 chars)

    GREAT LOCATION. LOCATED ON THE EDGE OF THE UNIVERSITY DISTRICT. BLOCKS AWAY FROM THE DETROIT GOLF CLUB AND UNIVERSITY OF DETROIT MERCY. Beautiful brick Tudor ready for renovations. So many wonderful vintage features. This beauty could be converted to a single-family residence of over 2500+ sq ft or keep it as a duplex. The possibilities are endless. Each floor has TWO BEDROOMS, FAMILY ROOM, DINING ROOM, FIRE PLACE, A FULL BATH, and a KITCHEN. First floor features an extra room off the Dining Room. The second floor features a three-season room with a terrace. Full basement. Many windows let in plenty of natural light. Come and see the potential! ARV - $140,000-$145,000, rent - $1000+ per unit.

17. 2026-04-14
    historical 701-char remark

    Show marketing remark (701 chars)

    GREAT LOCATION. LOCATED ON THE EDGE OF THE UNIVERSITY DISTRICT. BLOCKS AWAY FROM THE DETROIT GOLF CLUB AND UNIVERSITY OF DETROIT MERCY. Beautiful brick Tudor ready for renovations. So many wonderful vintage features. This beauty could be converted to a single-family residence of over 2500+ sq ft or keep it as a duplex. The possibilities are endless. Each floor has TWO BEDROOMS, FAMILY ROOM, DINING ROOM, FIRE PLACE, A FULL BATH, and a KITCHEN. First floor features an extra room off the Dining Room. The second floor features a three-season room with a terrace. Full basement. Many windows let in plenty of natural light. Come and see the potential! ARV - $140,000-$145,000, rent - $1000+ per unit.

18. 2026-04-01
    listed $33,000 Active 701-char remark

    Show marketing remark (701 chars)

    GREAT LOCATION. LOCATED ON THE EDGE OF THE UNIVERSITY DISTRICT. BLOCKS AWAY FROM THE DETROIT GOLF CLUB AND UNIVERSITY OF DETROIT MERCY. Beautiful brick Tudor ready for renovations. So many wonderful vintage features. This beauty could be converted to a single-family residence of over 2500+ sq ft or keep it as a duplex. The possibilities are endless. Each floor has TWO BEDROOMS, FAMILY ROOM, DINING ROOM, FIRE PLACE, A FULL BATH, and a KITCHEN. First floor features an extra room off the Dining Room. The second floor features a three-season room with a terrace. Full basement. Many windows let in plenty of natural light. Come and see the potential! ARV - $140,000-$145,000, rent - $1000+ per unit.

19. 2026-04-01
    listed $33,000 Active 701-char remark

    Show marketing remark (701 chars)

    GREAT LOCATION. LOCATED ON THE EDGE OF THE UNIVERSITY DISTRICT. BLOCKS AWAY FROM THE DETROIT GOLF CLUB AND UNIVERSITY OF DETROIT MERCY. Beautiful brick Tudor ready for renovations. So many wonderful vintage features. This beauty could be converted to a single-family residence of over 2500+ sq ft or keep it as a duplex. The possibilities are endless. Each floor has TWO BEDROOMS, FAMILY ROOM, DINING ROOM, FIRE PLACE, A FULL BATH, and a KITCHEN. First floor features an extra room off the Dining Room. The second floor features a three-season room with a terrace. Full basement. Many windows let in plenty of natural light. Come and see the potential! ARV - $140,000-$145,000, rent - $1000+ per unit.

20. 2026-04-01
    historical

    Show marketing remark (701 chars)

    GREAT LOCATION. LOCATED ON THE EDGE OF THE UNIVERSITY DISTRICT. BLOCKS AWAY FROM THE DETROIT GOLF CLUB AND UNIVERSITY OF DETROIT MERCY. Beautiful brick Tudor ready for renovations. So many wonderful vintage features. This beauty could be converted to a single-family residence of over 2500+ sq ft or keep it as a duplex. The possibilities are endless. Each floor has TWO BEDROOMS, FAMILY ROOM, DINING ROOM, FIRE PLACE, A FULL BATH, and a KITCHEN. First floor features an extra room off the Dining Room. The second floor features a three-season room with a terrace. Full basement. Many windows let in plenty of natural light. Come and see the potential! ARV - $140,000-$145,000, rent - $1000+ per unit.

21. 2026-03-27
    status Active
22. 2026-03-27
    historical
23. 2025-12-03
    price $33,000
24. 2025-12-02
    status Active
25. 2025-12-02
    status Active
26. 2025-12-02
    price $33,000
27. 2025-10-21
    historical
28. 2025-10-21
    historical
29. 2025-09-22
    listed $45,000 Active
30. 2025-09-22
    listed $45,000 Active

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,794
• − Mortgage interest: −$1,849
• − Property taxes: −$495
• − Insurance: −$165
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$960
• Taxable income: $13,998
• Est. tax owed @ 24.0%: −$3,360
• After-tax cash flow: $10,331/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-26.7% since first listed

15 events — show timeline

• 2026-04-15 Relisted — REALCOMP
• 2026-04-14 Listing Removed — REALCOMP
• 2026-04-01 Listing Removed — MiRealSource-MiMLS
• 2026-04-01 Listed $33,000 MiRealSource-MiMLS
• 2026-04-01 Listed $33,000 REALCOMP
• 2026-03-27 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2025-12-03 Price Changed $33,000 MiRealSource-MiMLS
• 2025-12-02 Relisted — MiRealSource-MiMLS
• 2025-12-02 Relisted — REALCOMP
• 2025-12-02 Price Changed $33,000 REALCOMP
• 2025-10-21 Listing Removed — REALCOMP
• 2025-10-21 Listing Removed — MiRealSource-MiMLS
• 2025-09-22 Listed $45,000 REALCOMP
• 2025-09-22 Listed $45,000 MiRealSource-MiMLS

Property tax history

+3.2%/yr

Latest (2025): $2,236 · -2.4% YoY. Source: county tax records.