15716 Patton St · Detroit, MI 48223

$80,900

2 bd · 1.0 ba · 789 sqft · SingleFamily public records · 21 Days on market

Built 1943 3,920 sqft lot $103/sqft · 42% above area Est $57k · 42% over

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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 +25.6/30.0
• 1% rule +8.8/10.0
• DSCR +8.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

Excellent investment opportunity to generate income on day one with this turnkey brick ranch, currently occupied by reliable tenants paying $1,100 per month. Out of respect for the occupants' privacy, please do not disturb the tenants. The property boasts impressive modern updates throughout, featuring a freshly painted interior in a crisp neutral palette, classic crown molding, new stylish flooring, and a beautifully updated kitchen equipped with stark white cabinetry, a dramatic dark marbled countertop, and a contemporary tile backsplash. The single-story layout includes bright living spaces filled with natural light, a well-maintained bathroom preserving vintage charm, and a full basement with a solid foundation providing ample storage and updated mechanicals, including a newer hot water heater. Outside, the home features a classic brick exterior, a secure front entry storm door, and a spacious, shaded backyard perfect for outdoor enjoyment. For investors looking to expand their portfolio, this property can also be conveniently packaged with MLS #20261020569 to maximize your returns.

Key facts

• Modern updates
• Turnkey brick ranch
• Bright living spaces

Tags

• TURNKEY BRICK RANCH
• MODERN UPDATES
• UPDATED KITCHEN
• BRIGHT LIVING SPACES
• FULL BASEMENT
• CLASSIC BRICK EXTERIOR

Property features AI

Finance

• Financial info: Annual taxes listed (verify current amount separately)

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Brick construction
• Construction: Brick exterior
• Exterior features: Lot dimensions approximately 35 x 118; Lot size about 0.09 acre; No pool

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $81k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $81k).
• Recommended offer: $80k (1.5% 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: 158 active listings in the ZIP; 40 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 30% of the median local income ($45k/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 $559 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 7y ago 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.
• Current owner paid $38k; list at $81k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,686 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.38% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 6.0

CMA / ARV

• ARV (median comp): $57,011
• List price: $80,900
• Delta: 49.09%
• 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
15366 Patton St	0.18mi	3/1.0 (+1)	809 (+2%)	7mo	$85,000	$105	76
15363 Plainview Ave	0.42mi	2/1.0	800 (+1%)	5mo	$27,000	$34	74
15421 Westbrook St	0.39mi	2/1.0	815 (+3%)	5mo	$31,000	$38	72
15703 Fielding St	0.04mi	3/1.0 (+1)	871 (+10%)	9mo	$40,000	$46	68
15717 Fielding St	0.03mi	3/1.5 (+1)	867 (+10%)	9mo	$95,000	$110	68
15761 Evergreen Rd	0.30mi	2/1.0	704 (-11%)	2mo	$85,000	$121	67
16115 Burt Rd	0.31mi	2/1.0	859 (+9%)	5mo	$57,000	$66	66
15759 Evergreen Rd	0.30mi	3/1.0 (+1)	704 (-11%)	2mo	$85,000	$121	62
15811 Trinity	0.28mi	2/1.0	900 (+14%)	14mo	$39,000	$43	52
15355 Plainview Ave	0.42mi	3/1.0 (+1)	869 (+10%)	14mo	$49,500	$57	47
16601 Evergreen Rd	0.54mi	2/1.0	872 (+10%)	14mo	$43,000	$49	45
15401 Lahser Rd	0.72mi	3/1.0 (+1)	906 (+15%)	13mo	$53,000	$58	26

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-838
• Equity at exit: $12,062

10-year hold

• IRR: 8.8%
• Equity multiple: 1.68×
• Total profit: $15,345
• Equity at exit: $6,995

Cash invested: $22,652 (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 48223

• Active inventory: 158
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,117 high
• Mortgage (P&I): −$424
• Tax from tax record: −$234 /mo · $2,805/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $191

Break-even live

Break-even rent $876

Max offer price $80,900

Occupancy floor 78%

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: $20,225
• Closing costs: $2,427
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15340 Braile St Detroit, MI	3.0	1.0	883	$1,000	$1.13	4d	1	0.24mi
16194 Fielding St Unit 2 Detroit, MI	2.0	1.0	750	$950	$1.27	14d	1	0.30mi
15318 Kentfield St Detroit, MI	3.0	1.5	900	$1,400	$1.56	43d	1	0.33mi
15712 Evergreen Rd Detroit, MI	2.0	1.0	850	$1,050	$1.24	43d	1	0.34mi
15519 Plainview Ave Detroit, MI	3.0	1.0	900	$1,396	$1.55	16d	1	0.39mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	24d	1	0.47mi
15143 Evergreen Rd Detroit, MI	2.0	1.0	653	$875	$1.34	21d	1	0.47mi
16717 Trinity St Detroit, MI	3.0	1.5	1101	$1,250	$1.14	43d	1	0.53mi
14541 Kentfield St Detroit, MI	3.0	1.0	797	$1,300	$1.63	16d	1	0.78mi
16700 Lahser Rd Apt 18 Detroit, MI	2.0	1.0	750	$900	$1.20	43d	1	0.80mi
16854 Lahser Rd Detroit, MI	1.0	1.0	680	$885	$1.30	12d	1	0.90mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$850	$1.21	43d	2	0.94mi
17274 Bentler St Detroit, MI	2.0	1.0	700	$838	$1.20	24d	2	0.94mi
16885 Lahser Rd Apt 3A Detroit, MI	1.0	1.0	700	$750	$1.07	43d	1	0.94mi
16885 Lahser Rd Unit 1A Detroit, MI	1.0	1.0	650	$750	$1.15	4d	1	0.94mi
17274 Bentler St #46 Detroit, MI	2.0	1.0	700	$850	$1.21	16d	1	0.96mi
17270 Bentler St Detroit, MI	2.0	1.0	650	$850	$1.31	43d	1	0.97mi
19431 Lyndon St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	0.99mi
15847 Chatham St Detroit, MI	3.0	1.0	909	$1,325	$1.46	4d	1	1.01mi
14258 Plainview Ave Detroit, MI	3.0	1.0	918	$1,200	$1.31	43d	1	1.06mi
14347 Westwood St Detroit, MI	2.0	1.0	706	$1,200	$1.70	24d	1	1.08mi
21440 Bennett St Detroit, MI	3.0	1.0	1037	$1,394	$1.34	16d	1	1.15mi
22241 Lyndon St Detroit, MI	3.0	1.0	960	$1,100	$1.15	16d	1	1.17mi
18025 Bentler St Detroit, MI	3.0	1.0	728	$1,250	$1.72	24d	1	1.20mi
18134 Vaughan St Detroit, MI	3.0	1.0	1060	$1,150	$1.08	16d	1	1.21mi
21451 Glenco St Detroit, MI	3.0	1.0	1026	$1,400	$1.36	16d	1	1.24mi
18205 Stout St Detroit, MI	3.0	1.0	901	$1,078	$1.20	24d	1	1.25mi
18191 Heyden St Detroit, MI	2.0	1.0	917	$1,100	$1.20	24d	1	1.25mi
17644 Lahser Rd Unit 7 Detroit, MI	1.0	1.0	600	$995	$1.66	24d	1	1.27mi
18274 Fielding St Detroit, MI	2.0	1.0	700	$1,200	$1.71	16d	1	1.31mi
18045 Lahser Rd Detroit, MI	1.0	1.0	670	$960	$1.43	4d	2	1.34mi
21434 Karl St Detroit, MI	2.0	1.0	1000	$1,350	$1.35	43d	1	1.38mi
17654 Sunderland Rd Detroit, MI	3.0	1.0	1100	$1,500	$1.36	43d	1	1.39mi
18437 Trinity St Detroit, MI	3.0	1.0	875	$1,364	$1.56	14d	1	1.40mi
18461 Heyden St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	4d	1	1.41mi
21455 Pickford St Detroit, MI	2.0	1.0	1000	$1,275	$1.27	43d	1	1.42mi
18350 Lahser Rd Detroit, MI	1.0	1.0	600	$950	$1.58	43d	1	1.45mi
13500 Heyden St Detroit, MI	2.0	1.0	850	$1,200	$1.41	43d	1	1.47mi
18400 Lahser Rd Detroit, MI	1.0	1.0	620	$950	$1.53	24d	1	1.48mi
14280 Bramell St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	16d	1	1.49mi

Listing history 45 events

1. 2026-06-18
   days on market $80,900 Active 21 DOM
2. 2026-06-17
   days on market $80,900 Active 20 DOM
3. 2026-06-15
   days on market $80,900 Active 18 DOM
4. 2026-06-13
   days on market $80,900 Active 16 DOM
5. 2026-06-13
   pricedays on market $80,900 Active 15 DOM
6. 2026-06-09
   days on market $85,000 Active 12 DOM
7. 2026-06-08
   days on market $85,000 Active 11 DOM
8. 2026-06-07
   days on market $85,000 Active 10 DOM
9. 2026-06-04
   days on market $85,000 Active 7 DOM
10. 2026-06-03
    days on market $85,000 Active 6 DOM
11. 2026-06-02
    days on market $85,000 Active 5 DOM
12. 2026-06-01
    days on market $85,000 Active 4 DOM
13. 2026-05-31
    days on market $85,000 Active 3 DOM
14. 2026-03-30
    listed $85,000 Active 199-char remark
15. 2026-03-30
    listed $85,000 Active 199-char remark
16. 2025-09-21
    historical $1,100
17. 2025-08-21
    price $1,100
18. 2025-07-20
    price $1,150
19. 2025-06-13
    listed $1,200
20. 2025-03-03
    soldstatus $38,000 Closed
21. 2025-03-03
    soldstatus $38,000 Closed
22. 2024-12-19
    status Pending
23. 2024-12-19
    status Pending
24. 2024-12-17
    status Active
25. 2024-12-10
    historical Accepting Backup Offers
26. 2024-12-10
    historical Accepting Backup Offers
27. 2024-09-30
    price $56,000
28. 2024-09-30
    price $56,000
29. 2024-07-11
    listed $58,000 Active
30. 2024-07-11
    listed $58,000 Active
31. 2020-09-09
    soldstatus $56,000
32. 2020-08-14
    soldstatus $35,000 Sold
33. 2020-08-14
    soldstatus $35,000 Closed
34. 2020-08-06
    status Pending
35. 2020-08-06
    status Active
36. 2020-07-10
    status Pending
37. 2020-07-10
    status Pending
38. 2020-06-29
    listed $40,000 Active
39. 2020-06-29
    listed $40,000 Active
40. 2019-12-17
    historical
41. 2019-12-16
    historical
42. 2019-08-14
    price $35,150
43. 2019-08-14
    price $35,150
44. 2019-05-14
    listed $35,250 Active
45. 2019-05-14
    listed $35,250 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: $2,805 · $234/mo
• Projected year-2 tax: $2,805 · $234/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 2/10 Low 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: $13,410
• − Mortgage interest: −$4,532
• − Property taxes: −$2,805
• − Insurance: −$404
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − Depreciation: −$2,353
• Taxable income: $1,170
• Est. tax owed @ 24.0%: −$281
• After-tax cash flow: $2,013/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): 22,622
• Household income: $44,512
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1151.0

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 (86%)
• Race & ethnicity: Black 86% White 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -303.41%
• Current HPI: 138.2779
• Rent YoY: —
• 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

+129.5% since first listed

38 events — show timeline

• 2026-06-12 Price Changed $80,900 MiRealSource-MiMLS
• 2026-06-11 Price Changed $80,900 REALCOMP
• 2026-05-28 Listing Removed — REALCOMP
• 2026-05-28 Listing Removed — MiRealSource-MiMLS
• 2026-05-28 Listed $85,000 REALCOMP
• 2026-05-28 Listed $85,000 MiRealSource-MiMLS
• 2026-03-30 Listed $85,000 REALCOMP
• 2026-03-30 Listed $85,000 MiRealSource-MiMLS
• 2025-09-21 Rental Removed $1,100 APPFOLIO
• 2025-08-21 Price Changed $1,100 APPFOLIO
• 2025-07-20 Price Changed $1,150 APPFOLIO
• 2025-06-13 Listed for Rent $1,200 APPFOLIO
• 2025-03-03 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2025-03-03 Sold (MLS) $38,000 REALCOMP
• 2024-12-19 Pending — MiRealSource-MiMLS
• 2024-12-19 Pending — REALCOMP
• 2024-12-17 Relisted — REALCOMP
• 2024-12-10 Contingent — MiRealSource-MiMLS
• 2024-12-10 Contingent — REALCOMP
• 2024-09-30 Price Changed $56,000 MiRealSource-MiMLS
• 2024-09-30 Price Changed $56,000 REALCOMP
• 2024-07-11 Listed $58,000 MiRealSource-MiMLS
• 2024-07-11 Listed $58,000 REALCOMP
• 2020-09-09 Sold (Public Records) $56,000 Public Records
• 2020-08-14 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2020-08-14 Sold (MLS) $35,000 REALCOMP
• 2020-08-06 Pending — REALCOMP
• 2020-08-06 Relisted — REALCOMP
• 2020-07-10 Pending — MiRealSource-MiMLS
• 2020-07-10 Pending — REALCOMP
• 2020-06-29 Listed $40,000 MiRealSource-MiMLS
• 2020-06-29 Listed $40,000 REALCOMP
• 2019-12-17 Listing Removed — MiRealSource-MiMLS
• 2019-12-16 Listing Removed — REALCOMP
• 2019-08-14 Price Changed $35,150 MiRealSource-MiMLS
• 2019-08-14 Price Changed $35,150 REALCOMP
• 2019-05-14 Listed $35,250 MiRealSource-MiMLS
• 2019-05-14 Listed $35,250 REALCOMP

Property tax history

+8.3%/yr

Latest (2025): $2,805 · +0.8% YoY. Source: county tax records.