15835 Evergreen Rd · Detroit, MI 48223

$85,000

2 bd · 1.0 ba · 708 sqft · Townhouse public records · 40 Days on market

Built 1941 3,049 sqft lot $120/sqft · 278% above area

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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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2bd possible 3bd with egress window in basement and upper bedroom has 2 walk in closets. Home is updated from top to bottom, great home for all types of buyers. BATVAI

Key facts

• 3,049 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $85k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($984 rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

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: 161 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 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 + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 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 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1941 — 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: 1.16% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (median comp): $40,453
• List price: $85,000
• Delta: 110.12%
• Verdict: OVERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $926
• Equity at exit: $12,674

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $19,704
• Equity at exit: $7,349

Cash invested: $23,800 (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 48223

• Active inventory: 161
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $984 high
• Mortgage (P&I): −$446
• Tax from tax record: −$65 /mo · $778/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $231

Break-even live

Break-even rent $691

Max offer price $85,000

Occupancy floor 72%

Sensitivity live

Price	-10% $279	-5% $255	+0% $231	+5% $207	+10% $183
Rent	-10% $153	-5% $192	+0% $231	+5% $270	+10% $309
Rate	-1.0pp $274	-0.5pp $253	base $231	+0.5pp $209	+1.0pp $187

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	16d	1	0.29mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	23d	1	0.48mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	25d	1	0.48mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	45d	2	1.01mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.01mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	45d	1	1.02mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	18d	1	1.03mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	45d	1	1.04mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	1.08mi
16854 Lahser Rd Detroit, MI	1.0	1.0	680	$885	$1.30	14d	1	1.08mi
16885 Lahser Rd Apt 3A Detroit, MI	1.0	1.0	700	$750	$1.07	45d	1	1.12mi
16885 Lahser Rd Unit 1A Detroit, MI	1.0	1.0	650	$750	$1.15	6d	1	1.12mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	18d	1	1.20mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	25d	1	1.25mi
17644 Lahser Rd Unit 7 Detroit, MI	1.0	1.0	600	$995	$1.66	25d	1	1.36mi
18045 Lahser Rd Detroit, MI	1.0	1.0	670	$960	$1.43	6d	2	1.43mi

Listing history 6 events

1. 2026-04-14
   listed $85,000 Active 167-char remark

   Show marketing remark (167 chars)

   2bd possible 3bd with egress window in basement and upper bedroom has 2 walk in closets. Home is updated from top to bottom, great home for all types of buyers. BATVAI

2. 2026-04-14
   listed $85,000 Active 167-char remark

   Show marketing remark (167 chars)

   2bd possible 3bd with egress window in basement and upper bedroom has 2 walk in closets. Home is updated from top to bottom, great home for all types of buyers. BATVAI

3. 2026-01-04
   historical
4. 2026-01-04
   historical
5. 2025-10-21
   listed $85,000 Active
6. 2025-10-20
   listed $85,000 Active

ⓘ 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: $778 · $65/mo
• Projected year-2 tax: $1,044 · $87/mo
• Expected delta: +$265/yr (+$22/mo · 34.1%)

ⓘ 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,802
• − Mortgage interest: −$4,761
• − Property taxes: −$778
• − Insurance: −$425
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$2,473
• Taxable income: $1,477
• Est. tax owed @ 24.0%: −$354
• After-tax cash flow: $2,417/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -303.41%
• Current HPI: 138.2779
• Rent YoY: —
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-14 Listed $85,000 MiRealSource-MiMLS
• 2026-04-14 Listed $85,000 REALCOMP
• 2026-01-04 Listing Removed — MiRealSource-MiMLS
• 2026-01-04 Listing Removed — REALCOMP
• 2025-10-21 Listed $85,000 REALCOMP
• 2025-10-20 Listed $85,000 MiRealSource-MiMLS

Property tax history

-2.1%/yr

Latest (2025): $778 · -53.4% YoY. Source: county tax records.