15416 Snowden St · Detroit, MI 48227

$49,900

4 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 71 Days on market

Built 1928 3,049 sqft lot $45/sqft · 35% below area Est $62k · 19% 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
• 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

Check out this spacious and value-packed opportunity perfect for homeowners and investors alike! This charming 4-bedroom, 1.5-bath home offers a classic layout with a generous living room, formal dining room, and functional kitchen, providing plenty of space for comfortable living and entertaining. Beautiful hardwood floors run throughout, adding warmth and character, while the natural fireplace creates a cozy focal point for the main living area. Recent updates include a newer roof and updated windows, giving you peace of mind on major expenses. The inviting front porch stretches across the home, offering the perfect spot to relax and enjoy the neighborhood. One of the standout features is the oversized half bath, which is large enough to be converted into a full bathroom adding instant value and functionality. Whether you’re looking to move in, renovate, or add to your rental portfolio, this property presents strong upside at an attractive price point. BATVAI

Key facts

• Oversized half bath
• Natural fireplace
• Inviting front porch

Tags

• NATURAL FIREPLACE
• OVERSIZED HALF BATH
• INVITING FRONT PORCH
• NEWER ROOF
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $724 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.7% 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: Rents rising fast (+5.6%/yr); 385 active listings in the ZIP; 40 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 $1,408/mo this rent would consume 46% 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 $345 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 + 5.6% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $50k implies a 732% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.82% ✓
• Cap rate: 23.69%
• Cash-on-cash: 62.14%
• DSCR: 3.76
• GRM: 3.0

CMA / ARV

• ARV (median comp): $61,622
• List price: $49,900
• Delta: -19.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15775 Hartwell St	0.21mi	3/1.0 (-1)	1,123 (+1%)	3mo	$88,000	$78	81
15824 Snowden St	0.26mi	3/1.0 (-1)	1,127 (+2%)	0mo	$61,000	$54	80
15824 Snowden St	0.26mi	3/1.0 (-1)	1,127 (+2%)	0mo	$61,000	$54	80
15770 Stansbury St	0.34mi	3/1.0 (-1)	1,100 (-1%)	1mo	$50,000	$45	77
16180 Snowden St	0.44mi	3/1.0 (-1)	1,137 (+2%)	0mo	$61,000	$54	70
15041 Lesure St	0.35mi	3/1.0 (-1)	1,021 (-8%)	2mo	$50,000	$49	63
14885 Ward Ave	0.40mi	4/1.0	1,222 (+10%)	4mo	$45,000	$37	61
16246 Snowden St	0.50mi	3/1.5 (-1)	1,153 (+4%)	3mo	$58,500	$51	61
15430 Mark Twain St	0.49mi	3/1.0 (-1)	1,026 (-8%)	1mo	$95,000	$93	59
16183 Freeland Street St	0.64mi	3/1.0 (-1)	1,224 (+10%)	3mo	$150,000	$123	46
16176 Tracey St	0.47mi	3/2.0 (-1)	1,270 (+14%)	0mo	$70,000	$55	44
16562 Tracey St	0.61mi	3/1.0 (-1)	1,244 (+12%)	2mo	$60,000	$48	44

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: 64.1%
• Equity multiple: 3.99×
• Total profit: $41,808
• Equity at exit: $7,440

10-year hold

• IRR: 69.4%
• Equity multiple: 9.03×
• Total profit: $112,229
• Equity at exit: $4,314

Cash invested: $13,972 (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: 385
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,408 high
• Mortgage (P&I): −$262
• Tax from tax record: −$107 /mo · $1,278/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $724

Break-even live

Break-even rent $492

Max offer price $49,900

Occupancy floor 44%

Sensitivity live

Price	-10% $752	-5% $738	+0% $724	+5% $709	+10% $695
Rent	-10% $612	-5% $668	+0% $724	+5% $779	+10% $835
Rate	-1.0pp $749	-0.5pp $736	base $724	+0.5pp $711	+1.0pp $697

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	0.23mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	0.29mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.38mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.40mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.43mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	0.53mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	44d	1	0.56mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	11d	1	0.62mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	3d	1	0.66mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.69mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	0.70mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	44d	1	0.76mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	17d	1	0.76mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	25d	1	0.83mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	0.85mi
15328 Coyle St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	0.85mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,425	$1.43	13d	1	0.86mi
15330 Coyle St Unit 1 Detroit, MI	3.0	1.0	1000	$1,375	$1.38	25d	1	0.86mi
15330 Coyle St Unit 2 Detroit, MI	3.0	1.0	1000	$1,450	$1.45	25d	1	0.86mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.92mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	1.01mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.05mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	1.13mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	18d	1	1.13mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	1.14mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	1.19mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	1.25mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.27mi
18010 Lesure St Detroit, MI	3.0	1.0	1010	$1,550	$1.53	25d	1	1.28mi
17540 Pinehurst St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	44d	1	1.29mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	1.29mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	1.30mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.34mi
15375 Prevost St Detroit, MI	4.0	1.0	907	$1,300	$1.43	17d	1	1.35mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	17d	1	1.36mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	1.38mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	1.39mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.40mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	20d	1	1.43mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	44d	1	1.46mi

Listing history 30 events

1. 2026-06-18
   days on market $49,900 Active 71 DOM
2. 2026-06-17
   days on market $49,900 Active 70 DOM
3. 2026-06-15
   days on market $49,900 Active 68 DOM
4. 2026-06-13
   days on market $49,900 Active 66 DOM
5. 2026-06-13
   days on market $49,900 Active 65 DOM
6. 2026-06-10
   price $49,900 Active 62 DOM
7. 2026-06-09
   days on market $59,900 Active 62 DOM
8. 2026-06-08
   days on market $59,900 Active 61 DOM
9. 2026-06-07
   days on market $59,900 Active 60 DOM
10. 2026-06-04
    days on market $59,900 Active 57 DOM
11. 2026-06-03
    days on market $59,900 Active 56 DOM
12. 2026-06-02
    days on market $59,900 Active 55 DOM
13. 2026-06-01
    days on market $59,900 Active 54 DOM
14. 2026-05-31
    days on market $59,900 Active 53 DOM
15. 2026-04-08
    listed $59,900 Active 981-char remark

    Show marketing remark (981 chars)

    Check out this spacious and value-packed opportunity perfect for homeowners and investors alike! This charming 4-bedroom, 1.5-bath home offers a classic layout with a generous living room, formal dining room, and functional kitchen, providing plenty of space for comfortable living and entertaining. Beautiful hardwood floors run throughout, adding warmth and character, while the natural fireplace creates a cozy focal point for the main living area. Recent updates include a newer roof and updated windows, giving you peace of mind on major expenses. The inviting front porch stretches across the home, offering the perfect spot to relax and enjoy the neighborhood. One of the standout features is the oversized half bath, which is large enough to be converted into a full bathroom adding instant value and functionality. Whether you’re looking to move in, renovate, or add to your rental portfolio, this property presents strong upside at an attractive price point. BATVAI

16. 2026-04-07
    listed $59,900 Active 975-char remark

    Show marketing remark (975 chars)

    Check out this spacious and value-packed opportunity perfect for homeowners and investors alike! This charming 4-bedroom, 1.5-bath home offers a classic layout with a generous living room, formal dining room, and functional kitchen, providing plenty of space for comfortable living and entertaining. Beautiful hardwood floors run throughout, adding warmth and character, while the natural fireplace creates a cozy focal point for the main living area. Recent updates include a newer roof and updated windows, giving you peace of mind on major expenses. The inviting front porch stretches across the home, offering the perfect spot to relax and enjoy the neighborhood. One of the standout features is the oversized half bath, which is large enough to be converted into a full bathroom adding instant value and functionality. Whether you're looking to move in, renovate, or add to your rental portfolio, this property presents strong upside at an attractive price point. BATVAI

17. 2016-10-04
    soldstatus $6,000 Sold
18. 2016-10-04
    soldstatus $6,000 Closed
19. 2016-08-29
    status Pending
20. 2016-08-29
    status Pending
21. 2016-08-04
    price $8,000
22. 2016-08-03
    price $8,000
23. 2016-08-03
    status Active
24. 2016-08-03
    historical
25. 2016-07-03
    listed $9,200 Active
26. 2016-07-02
    listed $9,200 Active
27. 2015-09-01
    historical
28. 2015-09-01
    historical
29. 2015-01-15
    listed $7,000
30. 2015-01-15
    listed $7,000

ⓘ 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: $1,278 · $107/mo
• Projected year-2 tax: $1,278 · $107/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: $16,899
• − Mortgage interest: −$2,795
• − Property taxes: −$1,278
• − Insurance: −$250
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$1,452
• Taxable income: $8,420
• Est. tax owed @ 24.0%: −$2,021
• After-tax cash flow: $6,661/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

+755.7% since first listed

16 events — show timeline

• 2026-04-08 Listed $59,900 REALCOMP
• 2026-04-07 Listed $59,900 MiRealSource-MiMLS
• 2016-10-04 Sold (MLS) $6,000 MiRealSource-MiMLS
• 2016-10-04 Sold (MLS) $6,000 REALCOMP
• 2016-08-29 Pending — MiRealSource-MiMLS
• 2016-08-29 Pending — REALCOMP
• 2016-08-04 Price Changed $8,000 MiRealSource-MiMLS
• 2016-08-03 Price Changed $8,000 REALCOMP
• 2016-08-03 Relisted — REALCOMP
• 2016-08-03 Listing Removed — REALCOMP
• 2016-07-03 Listed $9,200 MiRealSource-MiMLS
• 2016-07-02 Listed $9,200 REALCOMP
• 2015-09-01 Listing Removed — MiRealSource-MiMLS
• 2015-09-01 Listing Removed — REALCOMP
• 2015-01-15 Listed $7,000 MiRealSource-MiMLS
• 2015-01-15 Listed $7,000 REALCOMP

Property tax history

+1.1%/yr

Latest (2025): $1,278 · -54.0% YoY. Source: county tax records.