15351 Petoskey Ave · Detroit, MI 48238

$72,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 23 Days on market

Built 1923 3,485 sqft lot $83/sqft · 309% above area

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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 +7.5/15.0
• 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

Listing remarks

TENANT OCCUPIED RANCH HOME LOCATED JUST NORTH OF FENKELL AND JUST EAST OF LIVERNOIS. THIS HOME FEATURES HARDWOOD FLOORS THROUGHOUT, LIVING ROOM, DINING ROOM, KITCHEN, TWO BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. THE MONTHLY RENT IS 900 PER MONTH AND THEY ARE CURRENTLY MONTH TO MONTH. THIS PROPERTY IS BEING SOLD WITH THE TENANT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING. * * PHOTOS ARE FROM BEFORE TENANT MOVED IN * *

Key facts

• 3,485 sq ft lot
• Built 1923
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $72k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+6.1%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($33k/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 $504 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($72k) 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: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,806 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 1.51% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.36%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (median comp): $17,832
• List price: $72,900
• Delta: 308.82%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6362 Globe St	0.26mi	2/1.0	888 (+1%)	0mo	$15,000	$17	86
7300 Ellsworth St	0.24mi	2/1.0	836 (-5%)	10mo	$30,000	$36	72
15798 Muirland St	0.43mi	2/1.0	943 (+7%)	1mo	$29,000	$31	67
15488 Wildemere St	0.40mi	3/1.0 (+1)	949 (+8%)	1mo	$49,900	$53	62
15893 Alden St	0.59mi	2/1.5	836 (-5%)	1mo	$24,000	$29	62
16230 Santa Rosa Dr	0.60mi	2/1.0	895 (+2%)	10mo	$120,000	$134	61
14890 Holmur St	0.27mi	2/1.0	779 (-12%)	10mo	$40,598	$52	60
7326 Ellsworth St	0.26mi	2/1.0	756 (-14%)	13mo	$35,000	$46	54
14601 San Juan Dr	0.56mi	3/1.5 (+1)	816 (-7%)	4mo	$37,000	$45	51
14619 Greenlawn St	0.71mi	2/1.0	804 (-9%)	5mo	$52,000	$65	48
16200 Lawton St	0.74mi	3/1.0 (+1)	956 (+9%)	4mo	$56,500	$59	42
16519 Monica St	0.68mi	3/2.0 (+1)	1,000 (+14%)	10mo	$165,000	$165	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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 1.78×
• Total profit: $16,000
• Equity at exit: $10,870

10-year hold

• IRR: 29.1%
• Equity multiple: 3.98×
• Total profit: $60,830
• Equity at exit: $6,303

Cash invested: $20,412 (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: 346
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,099 high
• Mortgage (P&I): −$382
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $380

Break-even live

Break-even rent $618

Max offer price $72,900

Occupancy floor 60%

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: $18,225
• Closing costs: $2,187
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14950 Stoepel St Detroit, MI	2.0	1.0	600	$900	$1.50	24d	1	0.22mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	0.40mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	0.58mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	16d	1	0.62mi
3808 Kendall St Unit 3 Detroit, MI	1.0	1.0	550	$700	$1.27	43d	1	0.64mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	4d	1	0.68mi
1875 Ewald Cir Unit 2E Detroit, MI	1.0	1.0	725	$875	$1.21	4d	1	0.72mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.72mi
2341 Ewald Cir Unit 3 Detroit, MI	1.0	1.0	600	$900	$1.50	43d	1	0.73mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	43d	1	0.78mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.78mi
1705 Oakman Blvd Unit 5 Detroit, MI	1.0	1.0	650	$895	$1.38	43d	1	0.78mi
1705 Oakman Blvd Unit 10 Detroit, MI	1.0	1.0	650	$895	$1.38	23d	1	0.78mi
3266 Pasadena St Unit 3 Detroit, MI	1.0	1.0	696	$700	$1.01	43d	1	0.82mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	16d	1	0.86mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	0.88mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	16d	1	0.88mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	12d	1	0.89mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	4d	1	0.96mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	0.97mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	43d	1	0.98mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	0.98mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	43d	1	1.03mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	17d	1	1.05mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	17d	1	1.05mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.07mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	43d	1	1.09mi
13639 La Salle Blvd Detroit, MI	1.0	1.0	800	$775	$0.97	43d	1	1.09mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	10d	1	1.09mi
13641 La Salle Blvd Detroit, MI	1.0	1.0	800	$775	$0.97	24d	1	1.09mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	43d	1	1.09mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	1.10mi
2623 W McNichols Rd Unit 23106 Detroit, MI	1.0	1.0	750	$1,075	$1.43	43d	1	1.10mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	16d	1	1.11mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.11mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	17d	1	1.13mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	1.13mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	1.17mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	43d	1	1.17mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	16d	1	1.25mi

Listing history 24 events

1. 2026-06-18
   days on market $72,900 Active 23 DOM
2. 2026-06-17
   days on market $72,900 Active 22 DOM
3. 2026-06-15
   days on market $72,900 Active 20 DOM
4. 2026-06-13
   days on market $72,900 Active 18 DOM
5. 2026-06-13
   days on market $72,900 Active 17 DOM
6. 2026-06-09
   days on market $72,900 Active 14 DOM
7. 2026-06-08
   days on market $72,900 Active 13 DOM
8. 2026-06-07
   days on market $72,900 Active 12 DOM
9. 2026-06-04
   days on market $72,900 Active 9 DOM
10. 2026-06-03
    days on market $72,900 Active 8 DOM
11. 2026-06-02
    days on market $72,900 Active 7 DOM
12. 2026-06-01
    days on market $72,900 Active 6 DOM
13. 2026-05-31
    days on market $72,900 Active 5 DOM
14. 2026-05-09
    historical
15. 2026-05-09
    historical
16. 2026-04-02
    price $72,900
17. 2026-04-02
    price $72,900
18. 2026-01-30
    price $74,600
19. 2026-01-29
    price $74,600
20. 2025-11-21
    price $75,100
21. 2025-11-20
    price $75,100
22. 2025-11-10
    listed $75,500 Active
23. 2025-11-10
    listed $75,500 Active
24. 2019-01-03
    soldstatus $420,000

ⓘ 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: $903 · $75/mo
• Projected year-2 tax: $1,013 · $84/mo
• Expected delta: +$110/yr (+$9/mo · 12.1%)

ⓘ 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 ≥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: $13,189
• − Mortgage interest: −$4,084
• − Property taxes: −$903
• − Insurance: −$364
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,121
• Taxable income: $3,607
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $3,699/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

-82.6% since first listed

11 events — show timeline

• 2026-05-09 Listing Removed — MiRealSource-MiMLS
• 2026-05-09 Listing Removed — REALCOMP
• 2026-04-02 Price Changed $72,900 MiRealSource-MiMLS
• 2026-04-02 Price Changed $72,900 REALCOMP
• 2026-01-30 Price Changed $74,600 MiRealSource-MiMLS
• 2026-01-29 Price Changed $74,600 REALCOMP
• 2025-11-21 Price Changed $75,100 MiRealSource-MiMLS
• 2025-11-20 Price Changed $75,100 REALCOMP
• 2025-11-10 Listed $75,500 REALCOMP
• 2025-11-10 Listed $75,500 MiRealSource-MiMLS
• 2019-01-03 Sold (Public Records) $420,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $903 · -53.6% YoY. Source: county tax records.