15353 Saint Marys St · Detroit, MI 48227

$100,000

4 bd · 1.5 ba · 1,703 sqft · SingleFamily public records · 234 Days on market

Built 1925 5,227 sqft lot $59/sqft · 40% below area Est $166k · 40% 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

CASH OFFERS ONLY! Lots of home for the money (1,700 square feet) the house has three bedrooms on 2nd floor one bedroom on first floor, large living room with natural fireplace, hot water heater 2022, furnace 2011, circuit breakers, lots of glass block windows on first floor, security storm doors on front and back of house, 2 car garage, house needs lots of updating and is sold in "AS IS" condition, buyers to verify all data, basement does leak. located in a very nice area! homes are selling for a lot more in this location, close to shopping, Schools and Freeways.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 (+5.6%/yr); 385 active listings in the ZIP; 32 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 $1,495/mo this rent would consume 49% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($88k) 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.50% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.73%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $166,312
• List price: $100,000
• Delta: -39.87%
• 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
15361 Mansfield St	0.06mi	4/1.0	1,766 (+4%)	2mo	$65,000	$37	88
15482 Rutherford St	0.18mi	3/1.0 (-1)	1,653 (-3%)	0mo	$65,000	$39	79
15357 Rutherford St	0.11mi	3/1.5 (-1)	1,592 (-6%)	2mo	$45,000	$28	77
14529 Asbury Park	0.56mi	4/2.0	1,688 (-1%)	4mo	$127,500	$76	67
15501 Whitcomb St	0.52mi	4/1.5	1,609 (-6%)	1mo	$90,000	$56	65
15762 Ferguson St	0.28mi	4/2.0	1,510 (-11%)	4mo	$82,000	$54	63
14689 Forrer St	0.49mi	3/1.5 (-1)	1,627 (-4%)	3mo	$65,000	$40	62
15530 Winthrop St	0.38mi	3/1.0 (-1)	1,573 (-8%)	3mo	$60,000	$38	60
14634 Abington Ave	0.51mi	3/1.5 (-1)	1,618 (-5%)	4mo	$165,000	$102	59
15455 Lindsay St St	0.35mi	3/2.0 (-1)	1,500 (-12%)	4mo	$198,000	$132	53
16601 Ferguson St	0.66mi	3/2.5 (-1)	1,625 (-5%)	1mo	$189,900	$117	52
15468 Robson St	0.73mi	3/2.0 (-1)	1,950 (+14%)	4mo	$195,000	$100	32

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: 18.4%
• Equity multiple: 1.77×
• Total profit: $21,569
• Equity at exit: $14,910

10-year hold

• IRR: 28.5%
• Equity multiple: 3.84×
• Total profit: $79,565
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,495 high
• Mortgage (P&I): −$524
• Tax from tax record: −$85 /mo · $1,017/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $530

Break-even live

Break-even rent $824

Max offer price $100,000

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	16d	1	0.08mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	5d	1	0.25mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	43d	1	0.28mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	15d	1	0.33mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	24d	1	0.34mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	43d	1	0.35mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	3d	1	0.51mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	24d	1	0.56mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	15d	1	0.59mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	43d	1	0.60mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	43d	1	0.76mi
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	16d	1	0.78mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	24d	1	0.80mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	15d	1	0.84mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	20d	1	0.87mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	43d	1	0.93mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	1d	1	0.97mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	43d	1	1.02mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	16d	1	1.08mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	43d	1	1.12mi
16757 Greenview Ave Unit 1A Detroit, MI	3.0	1.5	1600	$1,500	$0.94	5d	1	1.13mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	1.15mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	2d	1	1.27mi
16823 Stahelin Ave Detroit, MI	3.0	2.5	1500	$1,600	$1.07	17d	1	1.27mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	1.30mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	43d	1	1.37mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	10d	1	1.37mi
12840 Grandmont Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	43d	1	1.40mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	43d	1	1.41mi
13581 Penrod St Detroit, MI	4.0	1.0	1152	$1,200	$1.04	43d	1	1.41mi
15829 Minock St Detroit, MI	3.0	1.5	1200	$1,550	$1.29	24d	1	1.41mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	16d	1	1.44mi

Listing history 14 events

1. 2026-06-18
   days on market $100,000 Active 234 DOM
2. 2026-06-17
   days on market $100,000 Active 233 DOM
3. 2026-06-15
   days on market $100,000 Active 231 DOM
4. 2026-06-13
   days on market $100,000 Active 229 DOM
5. 2026-06-13
   days on market $100,000 Active 228 DOM
6. 2026-06-09
   days on market $100,000 Active 225 DOM
7. 2026-06-08
   days on market $100,000 Active 224 DOM
8. 2026-06-07
   days on market $100,000 Active 223 DOM
9. 2026-06-04
   days on market $100,000 Active 220 DOM
10. 2026-06-03
    days on market $100,000 Active 219 DOM
11. 2026-06-01
    days on market $100,000 Active 217 DOM
12. 2026-05-31
    days on market $100,000 Active 216 DOM
13. 2025-10-27
    listed $100,000 Active 580-char remark

    Show marketing remark (579 chars)

    CASH OFFERS ONLY! Lots of home for the money (1,700 square feet) the house has three bedrooms on 2nd floor one bedroom on first floor, large living room with natural fireplace, hot water heater 2022, furnace 2011, circuit breakers, lots of glass block windows on first floor, security storm doors on front and back of house, 2 car garage, house needs lots of updating and is sold in "AS IS" condition, buyers to verify all data, basement does leak. located in a very nice area! homes are selling for a lot more in this location, close to shopping, Schools and Freeways.

14. 2025-10-27
    listed $100,000 Active 579-char remark

    Show marketing remark (579 chars)

    CASH OFFERS ONLY! Lots of home for the money (1,700 square feet) the house has three bedrooms on 2nd floor one bedroom on first floor, large living room with natural fireplace, hot water heater 2022, furnace 2011, circuit breakers, lots of glass block windows on first floor, security storm doors on front and back of house, 2 car garage, house needs lots of updating and is sold in "AS IS" condition, buyers to verify all data, basement does leak. located in a very nice area! homes are selling for a lot more in this location, close to shopping, Schools and Freeways.

ⓘ 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: $1,017 · $85/mo
• Projected year-2 tax: $1,278 · $107/mo
• Expected delta: +$262/yr (+$22/mo · 25.7%)

ⓘ 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: $17,942
• − Mortgage interest: −$5,602
• − Property taxes: −$1,017
• − Insurance: −$500
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$2,909
• Taxable income: $5,044
• Est. tax owed @ 24.0%: −$1,210
• After-tax cash flow: $5,154/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

+0.0% since first listed

2 events — show timeline

• 2025-10-27 Listed $100,000 REALCOMP
• 2025-10-27 Listed $100,000 MiRealSource-MiMLS

Property tax history

-4.2%/yr

Latest (2025): $1,017 · -59.8% YoY. Source: county tax records.