15605 Carlisle St · Detroit, MI 48205

$79,900

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 4 Days on market

Built 1940 4,356 sqft lot Est $68k · 18% over ↓ 4% since listing

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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
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• 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 Home!!! This home offers the perfect blend of comfort, style, amd convenience. A spacious layout, modern updates, and a yard that's ideal for both relaxing and entertaining. Close to everything you need while still enjoying peace and privacy. This amazing property want last for long. Book your showing today. * * Sale is contingent upon the seller finding and securing a new home * *

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1940

Property features AI

Finance

• Other: Property listed as residential single-family
• Financial info: Tax amount not included per instructions
• HOA & community: HOA information not provided

Exterior

• Parking: Detached 2-car garage
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Irregular lot shape; Approximately 0.1 acre lot

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Finished basement; Total of 4 rooms
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 13.5% 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: 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 (+1.3%/yr); 376 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 40% of the median local income ($39k/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 $552 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 + 1.3% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1940 — 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. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 13.50%
• Cash-on-cash: 25.75%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $67,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15644 Carlisle St	0.05mi	3/1.0	1,055 (+1%)	1mo	$129,900	$123	96
16260 Bringard Dr	0.48mi	3/1.0	1,036 (-1%)	1mo	$80,000	$77	76
15275 Eastburn St	0.31mi	3/1.0	1,100 (+5%)	2mo	$56,000	$51	75
16062 CARLISLE St	0.31mi	3/1.0	957 (-8%)	1mo	$42,000	$44	71
16062 Carlisle St	0.31mi	3/1.0	957 (-8%)	1mo	$42,000	$44	71
16267 Edmore Dr	0.45mi	3/1.0	1,100 (+5%)	1mo	$122,500	$111	69
14910 Fairmount Dr	0.54mi	3/1.0	1,116 (+7%)	1mo	$15,000	$13	62
16291 Fairmount Dr	0.55mi	3/1.0	977 (-6%)	2mo	$112,000	$115	62
14788 Rossini Dr	0.63mi	3/1.0	1,099 (+5%)	1mo	$82,000	$75	61
16209 Tacoma St	0.63mi	3/1.0	968 (-7%)	1mo	$62,900	$65	58
16092 Manning St	0.68mi	3/1.5	1,200 (+15%)	0mo	$20,000	$17	41
16446 E State Fair St	0.72mi	2/1.0 (-1)	1,200 (+15%)	2mo	$70,000	$58	35

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.69×
• Total profit: $15,505
• Equity at exit: $11,913

10-year hold

• IRR: 24.8%
• Equity multiple: 2.99×
• Total profit: $44,446
• Equity at exit: $6,908

Cash invested: $22,372 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 376
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,293 high
• Mortgage (P&I): −$419
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $480

Break-even live

Break-even rent $685

Max offer price $79,900

Occupancy floor 58%

Sensitivity live

Price	-10% $525	-5% $503	+0% $480	+5% $457	+10% $435
Rent	-10% $378	-5% $429	+0% $480	+5% $531	+10% $582
Rate	-1.0pp $520	-0.5pp $500	base $480	+0.5pp $459	+1.0pp $438

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	16d	1	0.06mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	45d	1	0.11mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	6d	1	0.47mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.52mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	16d	1	0.53mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	45d	1	0.68mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	25d	1	0.72mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	45d	1	0.76mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	45d	1	0.85mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	45d	1	0.89mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.91mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	18d	1	0.95mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	4d	1	0.95mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	14d	1	0.96mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	0.98mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.05mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	18d	1	1.06mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	5d	1	1.08mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	1.09mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	1.16mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	19d	1	1.29mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.29mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	1.29mi
13501 Vernon Ave Warren, MI	2.0	1.0	850	$1,300	$1.53	25d	1	1.32mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	1.34mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	1.38mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	45d	1	1.38mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	1.39mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.43mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	1.49mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	1.49mi

Listing history 3 events

1. 2026-06-02
   statusdays on market $79,900 Pending 4 DOM
2. 2026-06-01
   days on market $79,900 Active 3 DOM
3. 2026-05-31
   days on market $79,900 Active 2 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: $1,069 · $89/mo
• Projected year-2 tax: $1,150 · $96/mo
• Expected delta: +$81/yr (+$7/mo · 7.5%)

ⓘ 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 ≥96°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: $15,516
• − Mortgage interest: −$4,476
• − Property taxes: −$1,069
• − Insurance: −$400
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$2,324
• Taxable income: $4,765
• Est. tax owed @ 24.0%: −$1,144
• After-tax cash flow: $4,617/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

-3.7% since first listed

16 events — show timeline

• 2026-05-22 Listed $79,900 REALCOMP
• 2026-05-22 Listed $79,900 MiRealSource-MiMLS
• 2025-11-28 Listing Removed — REALCOMP
• 2025-11-28 Listing Removed — MiRealSource-MiMLS
• 2025-11-20 Relisted — REALCOMP
• 2025-11-19 Listing Removed — REALCOMP
• 2025-09-01 Price Changed $110,000 MiRealSource-MiMLS
• 2025-09-01 Price Changed $110,000 REALCOMP
• 2025-08-18 Listed $115,000 REALCOMP
• 2025-08-17 Listed $115,000 MiRealSource-MiMLS
• 2025-07-11 Listing Removed — REALCOMP
• 2025-07-11 Listing Removed — MiRealSource-MiMLS
• 2025-06-14 Price Changed $90,000 MiRealSource-MiMLS
• 2025-06-13 Price Changed $90,000 REALCOMP
• 2025-06-11 Listed $83,000 REALCOMP
• 2025-06-11 Listed $83,000 MiRealSource-MiMLS

Property tax history

-5.3%/yr

Latest (2025): $1,069 · -14.1% YoY. Source: county tax records.