15363 Plainview Ave · Detroit, MI 48223

$39,900

2 bd · 1.0 ba · 730 sqft · SingleFamily public records · 1 Days on market

Built 1942 6,098 sqft lot Est $74k · 46% under

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Why this score? — see what drove the B 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great investment opportunity! This property features several major updates including a new hot water tank, furnace, breaker panel, and windows. Has full basement and detached garage giving you plenty of space and storage potential. Cash offers only!

Key facts

• New furnace
• New breaker panel
• New hot water tank

Tags

• NEW HOT WATER TANK
• NEW FURNACE
• NEW BREAKER PANEL
• NEW WINDOWS
• FULL BASEMENT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Lot approximately 0.14 acres (43 x 139)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full unfinished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $40k).
• Cap rate 18.4% vs local median 10.2% 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: 158 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 22y 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.
• Current owner paid $27k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.41% ✓
• Cap rate: 18.36%
• Cash-on-cash: 43.10%
• DSCR: 2.92
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $74,460
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15363 Plainview Ave	0.00mi	2/1.0	800 (+10%)	5mo	$27,000	$34	80
15761 Evergreen Rd	0.28mi	2/1.0	704 (-4%)	2mo	$85,000	$121	79
15759 Evergreen Rd	0.28mi	3/1.0 (+1)	704 (-4%)	2mo	$85,000	$121	74
15059 Evergreen Rd	0.19mi	2/1.0	653 (-10%)	3mo	$66,300	$102	71
15366 Patton St	0.36mi	3/1.0 (+1)	809 (+11%)	7mo	$85,000	$105	54
14359 Grandville Ave	0.71mi	3/1.0 (+1)	739 (+1%)	13mo	$105,000	$142	49
14336 Plainview Ave	0.69mi	2/1.0	736 (+1%)	22mo	$70,000	$95	48
15356 Patton St	0.36mi	2/1.0	624 (-14%)	13mo	$75,000	$120	48
15421 Westbrook St	0.73mi	2/1.0	815 (+12%)	5mo	$31,000	$38	42
14340 Evergreen Rd	0.69mi	2/1.0	832 (+14%)	20mo	$40,000	$48	28
14411 Stout St	0.68mi	3/1.0 (+1)	807 (+10%)	22mo	$14,000	$17	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.0%
• Equity multiple: 2.71×
• Total profit: $19,157
• Equity at exit: $5,949

10-year hold

• IRR: 46.4%
• Equity multiple: 5.46×
• Total profit: $49,859
• Equity at exit: $3,450

Cash invested: $11,172 (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 48223

• Active inventory: 158
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $963 high
• Mortgage (P&I): −$209
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $401

Break-even live

Break-even rent $456

Max offer price $39,900

Occupancy floor 53%

Sensitivity live

Price	-10% $424	-5% $413	+0% $401	+5% $390	+10% $379
Rent	-10% $325	-5% $363	+0% $401	+5% $439	+10% $477
Rate	-1.0pp $421	-0.5pp $411	base $401	+0.5pp $391	+1.0pp $380

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	22d	1	0.16mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	25d	1	0.16mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	15d	1	0.61mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	25d	1	0.72mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	44d	1	1.26mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	25d	2	1.34mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	44d	2	1.34mi
16854 Lahser Rd Detroit, MI	1.0	1.0	680	$885	$1.30	13d	1	1.35mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	17d	1	1.36mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	44d	1	1.37mi
16885 Lahser Rd Apt 3A Detroit, MI	1.0	1.0	700	$750	$1.07	44d	1	1.39mi
16885 Lahser Rd Unit 1A Detroit, MI	1.0	1.0	650	$750	$1.15	5d	1	1.39mi
12875 Faust Ave Detroit, MI	2.0	1.0	735	$1,200	$1.63	5d	1	1.48mi

Listing history 2 events

1. 2026-06-19
   remarks 249-char remark
2. 2026-06-19
   listed $39,900 Active 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: $1,608 · $134/mo
• Projected year-2 tax: $1,608 · $134/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 ≥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: $11,562
• − Mortgage interest: −$2,235
• − Property taxes: −$1,608
• − Insurance: −$200
• − Repairs & maintenance: −$925
• − Management: −$925
• − Depreciation: −$1,161
• Taxable income: $4,508
• Est. tax owed @ 24.0%: −$1,082
• After-tax cash flow: $3,733/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

+303.0% since first listed

18 events — show timeline

• 2026-06-18 Listed $39,900 REALCOMP
• 2026-06-18 Listed $39,900 MiRealSource-MiMLS
• 2026-03-17 Relisted — REALCOMP
• 2026-01-15 Sold (MLS) $27,000 MiRealSource-MiMLS
• 2026-01-15 Sold (MLS) $27,000 REALCOMP
• 2025-12-27 Listing Removed — MiRealSource-MiMLS
• 2025-12-17 Listed $34,900 MiRealSource-MiMLS
• 2025-12-17 Listed $34,900 REALCOMP
• 2016-01-27 Listing Removed — REALCOMP
• 2016-01-26 Listing Removed — MiRealSource-MiMLS
• 2015-09-20 Relisted — REALCOMP
• 2015-09-15 Listing Removed — REALCOMP
• 2015-04-26 Relisted — REALCOMP
• 2015-04-20 Listing Removed — REALCOMP
• 2015-01-26 Listed $9,500 REALCOMP
• 2015-01-26 Listed $9,500 MiRealSource-MiMLS
• 2004-04-29 Sold (MLS) $5,700 REALCOMP
• 2004-02-02 Listed $9,900 REALCOMP

Property tax history

+7.3%/yr

Latest (2025): $1,608 · +1.4% YoY. Source: county tax records.