15865 Collingham Dr · Detroit, MI 48205

$105,000

3 bd · 1.5 ba · 1,549 sqft · SingleFamily public records · 123 Days on market

Built 1947 4,356 sqft lot $68/sqft · 21% above area Est $87k · 21% over ↓ 19% since listing

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Why this score? — see what drove the C 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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful brick well maintained colonial nestled on a quiet tree lined street. 3 bedrooms and 3 bathrooms. Tenant occupied. Long term agency Tenant. $1250 a month agency tenant. Agency pays 100% of the rent making this opportunity extremely attractive. . At the current price this property delivers an impressive high ROI of 14.3%. $15,000 annually. Ideal for investors looking for immediate cash flow with reliable tenant already in place. Whether you are expanding your rental portfolio or looking for a strong performing asset in Detroit this opportunity checks all the boxes. Newer Roof, newer plumbing, newer electrical, hardwood floors, updated bathrooms, detached garage. Newer furnace and HWT. PLEASE DO NOT DISTURB TENANT. SHOWING AVAILABLE WITH AN ACCEPTED OFFER. PROPERTY BEING SOLD AS IS.

Key facts

• Newer roof
• Newer plumbing
• Newer electrical

Tags

• BRICK COLONIAL
• QUIET TREE LINED STREET
• NEWER ROOF
• NEWER PLUMBING
• NEWER ELECTRICAL
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

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; 16 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 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 $726 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.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 25y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $105k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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 1947 — 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: 1.26% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.03%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $86,736
• List price: $105,000
• Delta: 21.06%
• 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
15211 Fairmount Dr	0.49mi	3/2.0	1,500 (-3%)	1mo	$70,000	$47	69
16087 Collingham Dr	0.15mi	3/1.5	1,339 (-14%)	2mo	$135,000	$101	69
16516 Collingham Dr	0.42mi	3/2.0	1,590 (+3%)	10mo	$120,000	$75	66
14973 Bringard Dr	0.54mi	3/1.5	1,431 (-8%)	2mo	$60,000	$42	60
16661 Rossini Dr	0.59mi	2/1.0 (-1)	1,500 (-3%)	0mo	$87,000	$58	60
16286 E State Fair St	0.49mi	4/1.0 (+1)	1,439 (-7%)	1mo	$99,900	$69	57
19659 Kelly Rd	0.68mi	3/1.0	1,558 (+1%)	13mo	$105,000	$67	55
15211 Bringard Dr	0.44mi	3/1.5	1,439 (-7%)	16mo	$82,500	$57	55
14965 Edmore Dr	0.54mi	3/1.0	1,620 (+5%)	18mo	$134,000	$83	51
15200 Rossini Dr	0.55mi	3/1.0	1,680 (+8%)	11mo	$65,000	$39	50
15047 Rossini Dr	0.55mi	3/1.5	1,700 (+10%)	12mo	$54,500	$32	48
14840 Eastburn St	0.65mi	3/1.5	1,358 (-12%)	10mo	$155,000	$114	40

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,147
• Equity at exit: $15,656

10-year hold

• IRR: 8.9%
• Equity multiple: 1.63×
• Total profit: $18,569
• Equity at exit: $9,078

Cash invested: $29,400 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,327 high
• Mortgage (P&I): −$551
• Tax from tax record: −$135 /mo · $1,615/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $319

Break-even live

Break-even rent $923

Max offer price $105,000

Occupancy floor 71%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	43d	1	0.23mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	4d	1	0.25mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	24d	1	0.52mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	43d	1	0.71mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	2d	1	0.84mi
18808 Eastwood Dr Harper Woods, MI	2.0	1.0	2021	$1,500	$0.74	24d	1	0.85mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	17d	1	0.89mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	0.91mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	4d	1	1.01mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	43d	1	1.05mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	24d	1	1.08mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.17mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	11d	1	1.36mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	14d	1	1.38mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	1.38mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	1.40mi

Listing history 50 events

1. 2026-06-18
   days on market $105,000 Active 123 DOM
2. 2026-06-17
   days on market $105,000 Active 122 DOM
3. 2026-06-15
   days on market $105,000 Active 120 DOM
4. 2026-06-13
   days on market $105,000 Active 118 DOM
5. 2026-06-13
   days on market $105,000 Active 117 DOM
6. 2026-06-09
   days on market $105,000 Active 114 DOM
7. 2026-06-08
   days on market $105,000 Active 113 DOM
8. 2026-06-07
   days on market $105,000 Active 112 DOM
9. 2026-06-04
   days on market $105,000 Active 109 DOM
10. 2026-06-03
    days on market $105,000 Active 108 DOM
11. 2026-06-01
    days on market $105,000 Active 106 DOM
12. 2026-05-31
    days on market $105,000 Active 105 DOM
13. 2026-03-23
    price $105,000 800-char remark

    Show marketing remark (800 chars)

    Beautiful brick well maintained colonial nestled on a quiet tree lined street. 3 bedrooms and 3 bathrooms. Tenant occupied. Long term agency Tenant. $1250 a month agency tenant. Agency pays 100% of the rent making this opportunity extremely attractive. . At the current price this property delivers an impressive high ROI of 14.3%. $15,000 annually. Ideal for investors looking for immediate cash flow with reliable tenant already in place. Whether you are expanding your rental portfolio or looking for a strong performing asset in Detroit this opportunity checks all the boxes. Newer Roof, newer plumbing, newer electrical, hardwood floors, updated bathrooms, detached garage. Newer furnace and HWT. PLEASE DO NOT DISTURB TENANT. SHOWING AVAILABLE WITH AN ACCEPTED OFFER. PROPERTY BEING SOLD AS IS.

14. 2026-03-23
    price $105,000 800-char remark

    Show marketing remark (800 chars)

    Beautiful brick well maintained colonial nestled on a quiet tree lined street. 3 bedrooms and 3 bathrooms. Tenant occupied. Long term agency Tenant. $1250 a month agency tenant. Agency pays 100% of the rent making this opportunity extremely attractive. . At the current price this property delivers an impressive high ROI of 14.3%. $15,000 annually. Ideal for investors looking for immediate cash flow with reliable tenant already in place. Whether you are expanding your rental portfolio or looking for a strong performing asset in Detroit this opportunity checks all the boxes. Newer Roof, newer plumbing, newer electrical, hardwood floors, updated bathrooms, detached garage. Newer furnace and HWT. PLEASE DO NOT DISTURB TENANT. SHOWING AVAILABLE WITH AN ACCEPTED OFFER. PROPERTY BEING SOLD AS IS.

15. 2026-02-16
    listed $114,900 Active 800-char remark

    Show marketing remark (800 chars)

    Beautiful brick well maintained colonial nestled on a quiet tree lined street. 3 bedrooms and 3 bathrooms. Tenant occupied. Long term agency Tenant. $1250 a month agency tenant. Agency pays 100% of the rent making this opportunity extremely attractive. . At the current price this property delivers an impressive high ROI of 14.3%. $15,000 annually. Ideal for investors looking for immediate cash flow with reliable tenant already in place. Whether you are expanding your rental portfolio or looking for a strong performing asset in Detroit this opportunity checks all the boxes. Newer Roof, newer plumbing, newer electrical, hardwood floors, updated bathrooms, detached garage. Newer furnace and HWT. PLEASE DO NOT DISTURB TENANT. SHOWING AVAILABLE WITH AN ACCEPTED OFFER. PROPERTY BEING SOLD AS IS.

16. 2026-02-15
    listed $114,900 Active 800-char remark

    Show marketing remark (800 chars)

    Beautiful brick well maintained colonial nestled on a quiet tree lined street. 3 bedrooms and 3 bathrooms. Tenant occupied. Long term agency Tenant. $1250 a month agency tenant. Agency pays 100% of the rent making this opportunity extremely attractive. . At the current price this property delivers an impressive high ROI of 14.3%. $15,000 annually. Ideal for investors looking for immediate cash flow with reliable tenant already in place. Whether you are expanding your rental portfolio or looking for a strong performing asset in Detroit this opportunity checks all the boxes. Newer Roof, newer plumbing, newer electrical, hardwood floors, updated bathrooms, detached garage. Newer furnace and HWT. PLEASE DO NOT DISTURB TENANT. SHOWING AVAILABLE WITH AN ACCEPTED OFFER. PROPERTY BEING SOLD AS IS.

17. 2025-10-27
    historical
18. 2025-10-27
    historical
19. 2024-11-30
    listed $129,999 Active
20. 2024-11-30
    listed $129,999 Active
21. 2017-02-21
    soldstatus $50,000
22. 2016-09-22
    soldstatus $32,000 Sold
23. 2016-09-22
    soldstatus $32,000 Closed
24. 2016-09-08
    status Pending
25. 2016-09-08
    status Pending
26. 2016-09-06
    listed $35,500 Active
27. 2016-09-06
    listed $35,500 Active
28. 2016-08-24
    historical
29. 2016-08-23
    historical
30. 2016-08-19
    listed $39,900 Active
31. 2016-08-19
    listed $39,900 Active
32. 2016-08-15
    historical
33. 2016-08-14
    historical
34. 2016-08-01
    price $39,900
35. 2016-07-31
    price $39,900
36. 2016-07-29
    status Active
37. 2016-07-29
    status Active
38. 2016-07-14
    status Pending
39. 2016-07-14
    status Pending
40. 2016-04-17
    listed $44,000 Active
41. 2016-04-14
    listed $44,000 Active
42. 2016-04-13
    historical
43. 2016-04-13
    historical
44. 2016-03-18
    status Active
45. 2016-03-14
    historical
46. 2016-03-12
    status Active
47. 2016-02-21
    status Pending
48. 2016-02-15
    historical
49. 2016-01-28
    status Pending
50. 2016-01-12
    listed $45,000 Active

ⓘ 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: $1,615 · $135/mo
• Projected year-2 tax: $1,616 · $135/mo
• Expected delta: +$1/yr ($0/mo · 0.1%)

ⓘ 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 ≥96°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: $15,922
• − Mortgage interest: −$5,882
• − Property taxes: −$1,615
• − Insurance: −$525
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$3,055
• Taxable income: $2,298
• Est. tax owed @ 24.0%: −$552
• After-tax cash flow: $3,279/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

-19.2% since first listed

55 events — show timeline

• 2026-03-23 Price Changed $105,000 MiRealSource-MiMLS
• 2026-03-23 Price Changed $105,000 REALCOMP
• 2026-02-16 Listed $114,900 REALCOMP
• 2026-02-15 Listed $114,900 MiRealSource-MiMLS
• 2025-10-27 Listing Removed — MiRealSource-MiMLS
• 2025-10-27 Listing Removed — REALCOMP
• 2024-11-30 Listed $129,999 MiRealSource-MiMLS
• 2024-11-30 Listed $129,999 REALCOMP
• 2017-02-21 Sold (Public Records) $50,000 Public Records
• 2016-09-22 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2016-09-22 Sold (MLS) $32,000 REALCOMP
• 2016-09-08 Pending — MiRealSource-MiMLS
• 2016-09-08 Pending — REALCOMP
• 2016-09-06 Listed $35,500 MiRealSource-MiMLS
• 2016-09-06 Listed $35,500 REALCOMP
• 2016-08-24 Listing Removed — REALCOMP
• 2016-08-23 Listing Removed — MiRealSource-MiMLS
• 2016-08-19 Listed $39,900 MiRealSource-MiMLS
• 2016-08-19 Listed $39,900 REALCOMP
• 2016-08-15 Listing Removed — REALCOMP
• 2016-08-14 Listing Removed — MiRealSource-MiMLS
• 2016-08-01 Price Changed $39,900 MiRealSource-MiMLS
• 2016-07-31 Price Changed $39,900 REALCOMP
• 2016-07-29 Relisted — MiRealSource-MiMLS
• 2016-07-29 Relisted — REALCOMP
• 2016-07-14 Pending — MiRealSource-MiMLS
• 2016-07-14 Pending — REALCOMP
• 2016-04-17 Listed $44,000 MiRealSource-MiMLS
• 2016-04-14 Listed $44,000 REALCOMP
• 2016-04-13 Listing Removed — MiRealSource-MiMLS
• 2016-04-13 Listing Removed — REALCOMP
• 2016-03-18 Relisted — REALCOMP
• 2016-03-14 Listing Removed — REALCOMP
• 2016-03-12 Relisted — REALCOMP
• 2016-02-21 Pending — REALCOMP
• 2016-02-15 Listing Removed — REALCOMP
• 2016-01-28 Pending — REALCOMP
• 2016-01-12 Listed $45,000 REALCOMP
• 2016-01-12 Listed $45,000 MiRealSource-MiMLS
• 2015-12-16 Listing Removed — REALCOMP
• 2015-12-15 Listing Removed — MiRealSource-MiMLS
• 2015-11-22 Relisted — REALCOMP
• 2015-11-17 Listing Removed — REALCOMP
• 2015-09-16 Price Changed $49,900 REALCOMP
• 2015-09-15 Listed $44,900 REALCOMP
• 2015-09-15 Listed $49,900 MiRealSource-MiMLS
• 2015-08-11 Listing Removed — MiRealSource-MiMLS
• 2015-08-11 Listing Removed — REALCOMP
• 2015-08-10 Listed $46,000 MiRealSource-MiMLS
• 2015-08-10 Listed $46,000 REALCOMP
• 2008-12-02 Listing Removed — REALCOMP
• 2008-04-30 Listed $28,900 REALCOMP
• 2001-05-25 Sold (MLS) $129,900 MiRealSource-MiMLS
• 2001-05-04 Listing Removed — MiRealSource-MiMLS
• 2001-02-01 Listed $129,900 MiRealSource-MiMLS

Property tax history

-4.3%/yr

Latest (2025): $1,615 · -54.2% YoY. Source: county tax records.