15718 Northlawn St · Detroit, MI 48238

$59,900

5 bd · 1.5 ba · 1,590 sqft · SingleFamily public records · 40 Days on market

Built 1927 3,485 sqft lot $38/sqft · at area comps Est $58k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.1/15.0
• 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

Key facts

• 3,485 sq ft lot
• Built 1927
• Listed 40 days

Property features AI

Finance

• Other: Above-grade finished area about 1,590 total; Lot roughly 35 x 100 (0.08 acres)
• Financial info: Property used as residential income (multi-family)

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two-story building; Brick construction; Zoned for multi-family
• Construction: Block foundation
• Exterior features: Paved road access; Pets allowed

Interior

• Bedrooms: One 3-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating (natural gas); No central cooling listed
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $835 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.0% 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); 350 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• At $1,724/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 $414 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 + 6.1% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 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: property tax is 3.8% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
8. 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.
9. 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: 2.88% ✓
• Cap rate: 23.01%
• Cash-on-cash: 59.72%
• DSCR: 3.66
• GRM: 2.9

CMA / ARV

• ARV (median comp): $58,151
• List price: $59,900
• Delta: 3.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15767 Northlawn St	0.05mi	5/2.0	1,420 (-11%)	3mo	$55,000	$39	75
15861 Tuller St	0.31mi	5/1.5	1,768 (+11%)	2mo	$28,000	$16	65
15703 Northlawn St	0.03mi	4/1.0 (-1)	1,365 (-14%)	5mo	$70,000	$51	64
15828 Santa Rosa Dr	0.57mi	4/1.5 (-1)	1,600 (+1%)	8mo	$125,000	$78	60
16143 Monica St	0.55mi	4/2.0 (-1)	1,500 (-6%)	2mo	$175,000	$117	56
15700 Washburn St	0.38mi	4/2.0 (-1)	1,700 (+7%)	10mo	$52,100	$31	56
8282 Desoto St	0.36mi	4/2.0 (-1)	1,380 (-13%)	7mo	$149,000	$108	48
16784 Tuller St	0.73mi	4/2.0 (-1)	1,545 (-3%)	10mo	$184,000	$119	46
8240 Desoto St	0.36mi	4/1.0 (-1)	1,368 (-14%)	8mo	$59,500	$43	46
14811 Wisconsin St	0.60mi	5/2.0	1,812 (+14%)	3mo	$143,000	$79	44
16796 Turner St	0.73mi	4/2.0 (-1)	1,710 (+8%)	3mo	$159,000	$93	44
15374 Birwood St	0.57mi	4/2.0 (-1)	1,378 (-13%)	5mo	$132,000	$96	40

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 62.3%
• Equity multiple: 3.93×
• Total profit: $49,167
• Equity at exit: $8,931

10-year hold

• IRR: 68.0%
• Equity multiple: 9.12×
• Total profit: $136,246
• Equity at exit: $5,179

Cash invested: $16,772 (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: 350
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,724 high
• Mortgage (P&I): −$314
• Tax from tax record: −$188 /mo · $2,261/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $835

Break-even live

Break-even rent $668

Max offer price $59,900

Occupancy floor 47%

Sensitivity live

Price	-10% $869	-5% $852	+0% $835	+5% $818	+10% $801
Rent	-10% $698	-5% $767	+0% $835	+5% $903	+10% $971
Rate	-1.0pp $865	-0.5pp $850	base $835	+0.5pp $819	+1.0pp $803

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	26d	1	0.12mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.44mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	0.82mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	1.01mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	19d	1	1.16mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	4d	1	1.16mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	14d	1	1.35mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	14d	1	1.37mi

Listing history 16 events

1. 2026-06-21
   days on market $59,900 Active 40 DOM
2. 2026-06-18
   days on market $59,900 Active 37 DOM
3. 2026-06-17
   days on market $59,900 Active 36 DOM
4. 2026-06-15
   days on market $59,900 Active 34 DOM
5. 2026-06-13
   days on market $59,900 Active 32 DOM
6. 2026-06-13
   days on market $59,900 Active 31 DOM
7. 2026-06-09
   days on market $59,900 Active 28 DOM
8. 2026-06-08
   days on market $59,900 Active 27 DOM
9. 2026-06-07
   days on market $59,900 Active 26 DOM
10. 2026-06-04
    days on market $59,900 Active 23 DOM
11. 2026-06-03
    days on market $59,900 Active 22 DOM
12. 2026-06-02
    days on market $59,900 Active 21 DOM
13. 2026-06-01
    days on market $59,900 Active 20 DOM
14. 2026-05-31
    days on market $59,900 Active 19 DOM
15. 2026-05-11
    listed $59,900 Active
16. 2026-05-11
    listed $59,900 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: $2,261 · $188/mo
• Projected year-2 tax: $2,261 · $188/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,691
• − Mortgage interest: −$3,355
• − Property taxes: −$2,261
• − Insurance: −$300
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$1,743
• Taxable income: $9,722
• Est. tax owed @ 24.0%: −$2,333
• After-tax cash flow: $7,682/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

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $59,900 MiRealSource-MiMLS
• 2026-05-11 Listed $59,900 REALCOMP

Property tax history

+1.9%/yr

Latest (2025): $2,261 · +1.0% YoY. Source: county tax records.