15111 Freeland St · Detroit, MI 48227

$139,999

3 bd · 1.5 ba · 1,520 sqft · SingleFamily public records · 9 Days on market

Built 1929 4,792 sqft lot

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Why this score? — see what drove the D 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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A new homeowners dream. Remodeled all new appliances and fixtures hot water tank, furnace, windows and much more. 3 bed 1 and 1/2 bath large and spacious. Possibility for 4th room, office or walk in closet! Lots of potential in large spacious basement. Come and view this wont last long!! Agent has interest in property. BATVAI.

Key facts

• 4,792 sq ft lot
• Built 1929
• Listed 9 days

Property features AI

Exterior

• Home design: Single-family residence; Residential property; Other architectural style
• Construction: Brick construction; Built in 1929
• Exterior features: Public water

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Three total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $77 ($919/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (2.0% below list).
• Recommended offer: $137k (2.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Burns Elementarymiddle School (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 382 students, 93% FRL); Cody High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 466 students, 88% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 392 active listings in the ZIP; 37 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).
• At $1,372/mo this rent would consume 45% of the median local household income ($37k/yr) (locally 2371% 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 $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y ago; this cycle's ask is 402% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $24k; list at $140k implies a 483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,237 (2.0% below list)

Questions for the listing agent

1. Built in 1929 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.35%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $89,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15763 Robson St	0.53mi	2/1.5 (-1)	1,485 (-2%)	3mo	$58,500	$39	64
14574 Mark Twain St	0.39mi	2/1.5 (-1)	1,650 (+9%)	2mo	$50,000	$30	61
15894 Snowden St	0.69mi	3/1.5	1,562 (+3%)	4mo	$150,000	$96	60
14845 Freeland St	0.25mi	4/1.5 (+1)	1,741 (+14%)	1mo	$110,000	$63	59
14905 Littlefield St	0.53mi	3/1.0	1,368 (-10%)	1mo	$52,000	$38	56
15501 Whitcomb St	0.61mi	4/1.5 (+1)	1,609 (+6%)	2mo	$90,000	$56	55
15788 Littlefield St	0.65mi	3/1.0	1,608 (+6%)	4mo	$95,000	$59	54
15328 Prest St E	0.59mi	3/1.5	1,298 (-15%)	3mo	$66,999	$52	45
15868 Whitcomb St	0.71mi	3/1.0	1,332 (-12%)	2mo	$95,000	$71	42
15103 Cheyenne St	0.55mi	4/2.0 (+1)	1,317 (-13%)	4mo	$121,500	$92	42
14974 Cheyenne St	0.59mi	3/2.5	1,300 (-14%)	4mo	$155,000	$119	42
16265 Ardmore St	0.70mi	3/1.0	1,333 (-12%)	4mo	$49,000	$37	41

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 · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.64×
• Total profit: $-14,092
• Equity at exit: $20,874

10-year hold

• IRR: 3.2%
• Equity multiple: 1.26×
• Total profit: $10,072
• Equity at exit: $12,105

Cash invested: $39,200 (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 48227

• Rents YoY: 5.6%
• Active inventory: 392
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,372 high
• Mortgage (P&I): −$734
• Tax from tax record: −$215 /mo · $2,581/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $77

Break-even live

Break-even rent $1,275

Max offer price $139,999

Occupancy floor 89%

Sensitivity live

Price	-10% $156	-5% $116	+0% $77	+5% $37	+10% $-3
Rent	-10% $-32	-5% $22	+0% $77	+5% $131	+10% $185
Rate	-1.0pp $147	-0.5pp $112	base $77	+0.5pp $40	+1.0pp $3

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	14d	1	0.29mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	0.31mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	0.35mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	0.36mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.40mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	0.51mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	23d	1	0.53mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	26d	1	0.55mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	0.60mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	18d	1	0.62mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	16d	1	0.63mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.71mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	45d	1	0.76mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.76mi
14615 Winthrop St Detroit, MI	2.0	1.0	1217	$1,300	$1.07	18d	1	0.84mi
14580 Forrer St Unit Unit Detroit, MI	2.0	1.0	1300	$900	$0.69	21d	1	0.87mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	6d	1	0.87mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	45d	1	0.91mi
14836 Rutherford St Unit 2 Detroit, MI	2.0	1.0	1104	$950	$0.86	45d	1	0.94mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	45d	1	0.96mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	6d	1	0.98mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	18d	1	1.03mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	45d	1	1.04mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.04mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	26d	1	1.09mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	45d	1	1.11mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	45d	1	1.17mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	16d	1	1.17mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	6d	1	1.18mi
14510 Asbury Park Detroit, MI	2.0	1.0	1771	$1,250	$0.71	45d	1	1.21mi
12778 Strathmoor St Detroit, MI	3.0	1.0	1597	$1,150	$0.72	6d	1	1.27mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	45d	1	1.32mi
15765 Washburn St Unit 15767 Washburn Upper Detroit, MI	2.0	1.0	1093	$950	$0.87	0d	1	1.34mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	19d	1	1.35mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	5d	1	1.36mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	26d	1	1.37mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.43mi

Listing history 24 events

1. 2026-06-21
   days on market $139,999 Active 9 DOM
2. 2026-06-18
   days on market $139,999 Active 6 DOM
3. 2026-06-17
   days on market $139,999 Active 5 DOM
4. 2026-06-16
   days on market $139,999 Active 4 DOM
5. 2026-06-15
   days on market $139,999 Active 3 DOM
6. 2026-06-13
   remarks 404-char remark
7. 2026-06-13
   statusdays on market $139,999 Active 1 DOM
8. 2026-06-09
   days on market $139,999 Coming Soon 25 DOM
9. 2026-06-08
   days on market $139,999 Coming Soon 24 DOM
10. 2026-06-07
    days on market $139,999 Coming Soon 23 DOM
11. 2026-06-04
    days on market $139,999 Coming Soon 20 DOM
12. 2026-06-03
    days on market $139,999 Coming Soon 19 DOM
13. 2026-06-02
    days on market $139,999 Coming Soon 18 DOM
14. 2026-06-01
    days on market $139,999 Coming Soon 17 DOM
15. 2026-05-31
    days on market $139,999 Coming Soon 16 DOM
16. 2026-05-16
    historical $139,999 328-char remark

    Show marketing remark (328 chars)

    A new homeowners dream. Remodeled all new appliances and fixtures hot water tank, furnace, windows and much more. 3 bed 1 and 1/2 bath large and spacious. Possibility for 4th room, office or walk in closet! Lots of potential in large spacious basement. Come and view this wont last long!! Agent has interest in property. BATVAI.

17. 2026-05-16
    historical $139,999

    Show marketing remark (328 chars)

    A new homeowners dream. Remodeled all new appliances and fixtures hot water tank, furnace, windows and much more. 3 bed 1 and 1/2 bath large and spacious. Possibility for 4th room, office or walk in closet! Lots of potential in large spacious basement. Come and view this wont last long!! Agent has interest in property. BATVAI.

18. 2024-08-01
    status Pending
19. 2024-07-26
    soldstatus $24,000 Sold
20. 2024-07-26
    soldstatus $24,000 Closed
21. 2024-05-30
    listed $27,900 Active
22. 2024-05-30
    listed $27,900 Active
23. 2009-01-14
    soldstatus $3,500
24. 2008-06-16
    listed $2,900

ⓘ 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: $2,581 · $215/mo
• Projected year-2 tax: $2,581 · $215/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: $16,468
• − Mortgage interest: −$7,842
• − Property taxes: −$2,581
• − Insurance: −$700
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$4,073
• Taxable loss: −$1,362
• Est. tax savings @ 24.0%: +$327
• After-tax cash flow: $1,246/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): 40,302
• Household income: $36,527
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2371.0

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 (95%)
• Race & ethnicity: Black 95% Two or more races 3% White 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -125.00%
• Current HPI: 186.4158
• Rent YoY: ▲ 5.59%
• 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

+4727.6% since first listed

9 events — show timeline

• 2026-05-16 Coming Soon $139,999 MiRealSource-MiMLS
• 2026-05-16 Coming Soon $139,999 SW Michigan MLS
• 2024-08-01 Pending — REALCOMP
• 2024-07-26 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2024-07-26 Sold (MLS) $24,000 REALCOMP
• 2024-05-30 Listed $27,900 MiRealSource-MiMLS
• 2024-05-30 Listed $27,900 REALCOMP
• 2009-01-14 Sold (MLS) $3,500 REALCOMP
• 2008-06-16 Listed $2,900 REALCOMP

Property tax history

+6.3%/yr

Latest (2025): $2,581 · -42.8% YoY. Source: county tax records.