15358 Greenfield Rd · Detroit, MI 48227

$124,900

4 bd · 1.5 ba · 1,718 sqft · MultiFamily public records · 33 Days on market

Built 1957 3,920 sqft lot Est $98k · 28% 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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Two-family flat located on Greenfield in Detroit. This property offers approximately 1,718 total square feet with a traditional upper/lower layout, basement access, and yard space. Convenient location near major roads, shopping, parks, and everyday amenities. This property may work well for a buyer seeking a multi-unit property with flexible use options.

Key facts

• Basement access
• Two-family flat
• Flexible use options

Tags

• TWO-FAMILY FLAT
• TRADITIONAL UPPER LOWER LAYOUT
• BASEMENT ACCESS
• YARD SPACE
• MULTI-UNIT PROPERTY
• FLEXIBLE USE OPTIONS

Property features AI

Finance

• Other: Lot approx. 0.09 acre (40 x 99.97); Zoned residential; Above-grade finished area: 1,718; Listing broker: Community Choice Realty Inc

Exterior

• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Multi-family residential property; Two stories; Brick construction
• Construction: Brick exterior
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Bedrooms: 2-bedroom unit (one unit listed)
• Bathrooms: 2 full bathrooms; 1 half bathroom; One unit configured with 1 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 × 2-bed/1.2-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $534/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 10.1% 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); 391 active listings in the ZIP; 29 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).
• At $2,410/mo this rent would consume 79% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($121k) 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 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.93% ✓
• Cap rate: 16.55%
• Cash-on-cash: 36.62%
• DSCR: 2.63
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $97,926
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15461 Prest St	0.10mi	3/2.0 (-1)	1,698 (-1%)	17mo	$63,500	$37	72
15064 Sussex St	0.25mi	3/2.0 (-1)	1,642 (-4%)	12mo	$93,000	$57	64
15443 Whitcomb St	0.12mi	4/2.5	1,944 (+13%)	7mo	$82,000	$42	63
14961 Strathmoor St	0.59mi	4/2.0	1,819 (+6%)	1mo	$110,000	$60	60
15065 Forrer St	0.26mi	4/2.0	1,840 (+7%)	23mo	$120,000	$65	55
15450 Greenfield Rd	0.09mi	4/3.0	1,876 (+9%)	24mo	$120,000	$64	55
14951 Strathmoor St	0.59mi	4/2.0	1,824 (+6%)	7mo	$148,000	$81	54
15421 Lauder St	0.35mi	4/2.0	1,824 (+6%)	23mo	$29,900	$16	53
15355 Asbury Park Park	0.53mi	3/2.0 (-1)	1,826 (+6%)	9mo	$82,500	$45	50

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: 35.3%
• Equity multiple: 2.55×
• Total profit: $54,189
• Equity at exit: $18,623

10-year hold

• IRR: 43.4%
• Equity multiple: 5.65×
• Total profit: $162,664
• Equity at exit: $10,799

Cash invested: $34,972 (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: 391
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,410 high
• Mortgage (P&I): −$655
• Tax from tax record: −$130 /mo · $1,557/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $1,067

Break-even live

Break-even rent $1,059

Max offer price $124,900

Occupancy floor 51%

Sensitivity live

Price	-10% $1,138	-5% $1,102	+0% $1,067	+5% $1,032	+10% $996
Rent	-10% $877	-5% $972	+0% $1,067	+5% $1,162	+10% $1,258
Rate	-1.0pp $1,130	-0.5pp $1,099	base $1,067	+0.5pp $1,035	+1.0pp $1,002

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$2,410
Total (2 units)			$2,410

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15341 Lauder St Detroit, MI	4.0	1.5	1080	$1,475	$1.37	18d	1	0.32mi
14893 Prest St Detroit, MI	3.0	1.0	1100	$1,000	$0.91	16d	1	0.34mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,386	$1.18	6d	1	0.37mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	25d	1	0.41mi
15332 Saint Marys St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	18d	1	0.42mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	45d	1	0.44mi
16014 Hackett St Detroit, MI	4.0	2.0	1142	$1,500	$1.31	45d	1	0.46mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	25d	1	0.50mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	16d	1	0.53mi
14800 Woodmont Ave Detroit, MI	3.0	2.0	1612	$1,525	$0.95	16d	1	0.63mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	18d	1	0.64mi
15065 Gilchrist St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	45d	1	0.71mi
14504 Saint Marys St Detroit, MI	4.0	1.0	1362	$1,473	$1.08	45d	1	0.72mi
14600 Strathmoor St Detroit, MI	4.0	1.0	1300	$1,450	$1.12	45d	1	0.73mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	45d	1	0.74mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	4d	1	0.77mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	25d	1	0.79mi
16837 Winthrop St Detroit, MI	5.0	2.0	1500	$2,000	$1.33	21d	1	0.83mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	0.84mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	4d	1	0.86mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	6d	1	0.95mi
16505 Stansbury St Detroit, MI	3.0	1.0	1700	$1,345	$0.79	45d	1	0.98mi
16505 Stansbury St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	12d	1	0.98mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$2,400	$2.26	3d	1	1.01mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	18d	1	1.07mi
16876 Harlow Ave Unit (NO) Detroit, MI	3.0	1.0	1250	$1,350	$1.08	45d	1	1.21mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	45d	1	1.25mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	18d	1	1.29mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	45d	1	1.31mi

Listing history 16 events

1. 2026-06-19
   status $124,900 Pending 33 DOM
2. 2026-06-18
   days on market $124,900 Active 33 DOM
3. 2026-06-17
   days on market $124,900 Active 32 DOM
4. 2026-06-15
   days on market $124,900 Active 30 DOM
5. 2026-06-13
   days on market $124,900 Active 28 DOM
6. 2026-06-13
   days on market $124,900 Active 27 DOM
7. 2026-06-09
   days on market $124,900 Active 24 DOM
8. 2026-06-08
   days on market $124,900 Active 23 DOM
9. 2026-06-07
   days on market $124,900 Active 22 DOM
10. 2026-06-04
    days on market $124,900 Active 19 DOM
11. 2026-06-03
    days on market $124,900 Active 18 DOM
12. 2026-06-02
    days on market $124,900 Active 17 DOM
13. 2026-06-01
    days on market $124,900 Active 16 DOM
14. 2026-05-31
    days on market $124,900 Active 15 DOM
15. 2026-05-13
    listed $124,900 Active

    Show marketing remark (356 chars)

    Two-family flat located on Greenfield in Detroit. This property offers approximately 1,718 total square feet with a traditional upper/lower layout, basement access, and yard space. Convenient location near major roads, shopping, parks, and everyday amenities. This property may work well for a buyer seeking a multi-unit property with flexible use options.

16. 2026-05-13
    listed $124,900 Active 356-char remark

    Show marketing remark (356 chars)

    Two-family flat located on Greenfield in Detroit. This property offers approximately 1,718 total square feet with a traditional upper/lower layout, basement access, and yard space. Convenient location near major roads, shopping, parks, and everyday amenities. This property may work well for a buyer seeking a multi-unit property with flexible use options.

ⓘ 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: $1,557 · $130/mo
• Projected year-2 tax: $1,740 · $145/mo
• Expected delta: +$183/yr (+$15/mo · 11.8%)

ⓘ 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: $28,920
• − Mortgage interest: −$6,996
• − Property taxes: −$1,557
• − Insurance: −$624
• − Repairs & maintenance: −$2,314
• − Management: −$2,314
• − Depreciation: −$3,633
• Taxable income: $11,481
• Est. tax owed @ 24.0%: −$2,756
• After-tax cash flow: $10,050/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

• 2026-05-13 Listed $124,900 MiRealSource-MiMLS
• 2026-05-13 Listed $124,900 REALCOMP

Property tax history

-1.3%/yr

Latest (2025): $1,557 · -33.8% YoY. Source: county tax records.