16100 Lappin St · Detroit, MI 48205

$70,000

3 bd · 1.0 ba · 929 sqft · SingleFamily public records · 113 Days on market

Built 1942 5,227 sqft lot $75/sqft · 151% 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
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey Investment Opportunity in Regent Park! This 3-bedroom bungalow has been meticulously updated with a full interior renovation in 2023 and exterior improvements in 2025. Features include a beautifully modern kitchen and bath, newer appliances, a solid foundation, and a 1.5-car detached garage. Currently generating $1,000/mo in rental income. Strictly no showings without an accepted offer. Please do not disturb the tenants. This is a seamless, low-maintenance addition to any portfolio! Photos prior to tenants occupancy.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1942

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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 (+1.3%/yr); 373 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 41% of the median local income ($39k/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 $484 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 + 1.3% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $70k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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: 1.91% ✓
• Cap rate: 16.22%
• Cash-on-cash: 35.47%
• DSCR: 2.58
• GRM: 4.4

CMA / ARV

• ARV (median comp): $27,896
• List price: $70,000
• Delta: 150.93%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16301 Coram St	0.15mi	3/1.0	929 (0%)	1mo	$19,500	$21	92
16107 Manning St	0.27mi	3/1.0	925 (-0%)	2mo	$61,000	$66	85
16277 Liberal St	0.24mi	3/1.0	945 (+2%)	1mo	$25,000	$26	85
18746 Woodside St	0.37mi	3/1.0	921 (-1%)	2mo	$110,000	$119	80
16209 Tacoma St	0.34mi	3/1.0	968 (+4%)	1mo	$62,900	$65	76
12893 Payton St	0.30mi	3/1.0	1,020 (+10%)	2mo	$75,000	$74	68
12897 Riad St	0.30mi	3/1.0	831 (-10%)	1mo	$63,000	$76	67
18591 Kingsville St	0.23mi	2/1.0 (-1)	824 (-11%)	1mo	$74,000	$90	65
16291 Fairmount Dr	0.55mi	3/1.0	977 (+5%)	2mo	$112,000	$115	64
15260 Faircrest St	0.63mi	2/1.0 (-1)	942 (+1%)	1mo	$35,000	$37	63
18905 Woodland St	0.55mi	3/1.5	1,023 (+10%)	1mo	$105,000	$103	55
16260 Bringard Dr	0.63mi	3/1.0	1,036 (+12%)	0mo	$80,000	$77	51

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 2.19×
• Total profit: $23,361
• Equity at exit: $10,437

10-year hold

• IRR: 35.6%
• Equity multiple: 4.02×
• Total profit: $59,160
• Equity at exit: $6,052

Cash invested: $19,600 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$367
• Tax from tax record: −$78 /mo · $942/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $579

Break-even live

Break-even rent $601

Max offer price $70,000

Occupancy floor 52%

Sensitivity live

Price	-10% $619	-5% $599	+0% $579	+5% $559	+10% $540
Rent	-10% $474	-5% $527	+0% $579	+5% $632	+10% $685
Rate	-1.0pp $615	-0.5pp $597	base $579	+0.5pp $561	+1.0pp $543

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	0.07mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.11mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	44d	1	0.30mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.40mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	0.56mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.60mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	0.62mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	0.64mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	0.65mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	0.66mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	44d	1	0.67mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	0.68mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	15d	1	0.73mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.75mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.78mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	44d	1	0.85mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	44d	1	0.86mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.87mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.88mi
15663 Carlisle St Detroit, MI	2.0	1.0	803	$1,050	$1.31	15d	1	0.90mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	1.03mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	1.05mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	1.05mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	1.06mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	1.16mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	1.24mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	44d	1	1.30mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	44d	1	1.32mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.34mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	44d	1	1.39mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	17d	1	1.41mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	1.41mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.42mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.46mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	1.49mi

Listing history 37 events

1. 2026-06-18
   days on market $70,000 Active 113 DOM
2. 2026-06-17
   days on market $70,000 Active 112 DOM
3. 2026-06-15
   days on market $70,000 Active 110 DOM
4. 2026-06-13
   days on market $70,000 Active 108 DOM
5. 2026-06-13
   days on market $70,000 Active 107 DOM
6. 2026-06-09
   days on market $70,000 Active 104 DOM
7. 2026-06-08
   days on market $70,000 Active 103 DOM
8. 2026-06-07
   days on market $70,000 Active 102 DOM
9. 2026-06-04
   days on market $70,000 Active 99 DOM
10. 2026-06-03
    days on market $70,000 Active 98 DOM
11. 2026-06-01
    days on market $70,000 Active 96 DOM
12. 2026-05-31
    days on market $70,000 Active 95 DOM
13. 2026-04-10
    price $70,000 530-char remark

    Show marketing remark (530 chars)

    Turnkey Investment Opportunity in Regent Park! This 3-bedroom bungalow has been meticulously updated with a full interior renovation in 2023 and exterior improvements in 2025. Features include a beautifully modern kitchen and bath, newer appliances, a solid foundation, and a 1.5-car detached garage. Currently generating $1,000/mo in rental income. Strictly no showings without an accepted offer. Please do not disturb the tenants. This is a seamless, low-maintenance addition to any portfolio! Photos prior to tenants occupancy.

14. 2026-04-09
    price $70,000 530-char remark

    Show marketing remark (530 chars)

    Turnkey Investment Opportunity in Regent Park! This 3-bedroom bungalow has been meticulously updated with a full interior renovation in 2023 and exterior improvements in 2025. Features include a beautifully modern kitchen and bath, newer appliances, a solid foundation, and a 1.5-car detached garage. Currently generating $1,000/mo in rental income. Strictly no showings without an accepted offer. Please do not disturb the tenants. This is a seamless, low-maintenance addition to any portfolio! Photos prior to tenants occupancy.

15. 2026-02-25
    listed $75,000 Active 530-char remark

    Show marketing remark (530 chars)

    Turnkey Investment Opportunity in Regent Park! This 3-bedroom bungalow has been meticulously updated with a full interior renovation in 2023 and exterior improvements in 2025. Features include a beautifully modern kitchen and bath, newer appliances, a solid foundation, and a 1.5-car detached garage. Currently generating $1,000/mo in rental income. Strictly no showings without an accepted offer. Please do not disturb the tenants. This is a seamless, low-maintenance addition to any portfolio! Photos prior to tenants occupancy.

16. 2026-02-25
    listed $75,000 Active 530-char remark

    Show marketing remark (530 chars)

    Turnkey Investment Opportunity in Regent Park! This 3-bedroom bungalow has been meticulously updated with a full interior renovation in 2023 and exterior improvements in 2025. Features include a beautifully modern kitchen and bath, newer appliances, a solid foundation, and a 1.5-car detached garage. Currently generating $1,000/mo in rental income. Strictly no showings without an accepted offer. Please do not disturb the tenants. This is a seamless, low-maintenance addition to any portfolio! Photos prior to tenants occupancy.

17. 2023-10-16
    historical
18. 2023-10-16
    historical
19. 2023-07-16
    listed $64,900 Active
20. 2023-07-16
    listed $64,900 Active
21. 2020-02-17
    historical
22. 2020-02-17
    historical
23. 2019-05-02
    listed $19,900 Active
24. 2019-05-02
    listed $19,900 Active
25. 2012-04-01
    historical
26. 2012-03-28
    historical
27. 2012-03-28
    historical
28. 2012-02-23
    listed $6,000
29. 2012-02-23
    listed $6,000
30. 2012-02-23
    listed $6,000
31. 2008-07-21
    historical
32. 2008-05-08
    listed $15,900
33. 2000-03-31
    soldstatus $45,000
34. 1999-12-17
    listed $48,000
35. 1999-03-15
    soldstatus $36,234
36. 1995-02-08
    soldstatus $36,000
37. 1995-02-08
    soldstatus $18,000

ⓘ 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: $942 · $78/mo
• Projected year-2 tax: $1,010 · $84/mo
• Expected delta: +$68/yr (+$6/mo · 7.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $16,011
• − Mortgage interest: −$3,921
• − Property taxes: −$942
• − Insurance: −$350
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$2,036
• Taxable income: $6,200
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $5,464/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+94.4% since first listed

25 events — show timeline

• 2026-04-10 Price Changed $70,000 MiRealSource-MiMLS
• 2026-04-09 Price Changed $70,000 REALCOMP
• 2026-02-25 Listed $75,000 REALCOMP
• 2026-02-25 Listed $75,000 MiRealSource-MiMLS
• 2023-10-16 Listing Removed — MiRealSource-MiMLS
• 2023-10-16 Listing Removed — REALCOMP
• 2023-07-16 Listed $64,900 MiRealSource-MiMLS
• 2023-07-16 Listed $64,900 REALCOMP
• 2020-02-17 Listing Removed — REALCOMP
• 2020-02-17 Listing Removed — MiRealSource-MiMLS
• 2019-05-02 Listed $19,900 MiRealSource-MiMLS
• 2019-05-02 Listed $19,900 REALCOMP
• 2012-04-01 Listing Removed — MiRealSource-MiMLS
• 2012-03-28 Listing Removed — MiRealSource-MiMLS
• 2012-03-28 Listing Removed — REALCOMP
• 2012-02-23 Listed $6,000 MiRealSource-MiMLS
• 2012-02-23 Listed $6,000 REALCOMP
• 2012-02-23 Listed $6,000 MiRealSource-MiMLS
• 2008-07-21 Listing Removed — REALCOMP
• 2008-05-08 Listed $15,900 REALCOMP
• 2000-03-31 Sold (MLS) $45,000 REALCOMP
• 1999-12-17 Listed $48,000 REALCOMP
• 1999-03-15 Sold (Public Records) $36,234 Public Records
• 1995-02-08 Sold (Public Records) $18,000 Public Records
• 1995-02-08 Sold (Public Records) $36,000 Public Records

Property tax history

-4.2%/yr

Latest (2025): $942 · +1.7% YoY. Source: county tax records.