76 Florence St · Highland Park, MI 48203

$89,990

3 bd · 1.0 ba · 1,460 sqft · Other public records · 5 Days on market

Built 1915 5,227 sqft lot

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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
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in Highland Park! 3 bed, 1.5 bath home with approximately 1,460 sqft and major updates already completed including newer roof, windows, furnace, water heater, updated plumbing, and updated electrical. Rehab is well underway with drywall, mechanicals, and much of the rough work already completed. Property mainly needs finish work including kitchen, bathrooms, flooring, paint, trim, and fixtures. Solid opportunity for fix & flip or BRRRR strategy with estimated ARV of $165k-$180k. Conveniently located near Woodward Ave, Davison Freeway, and Downtown Detroit. Cash or hard money only. BATVAI

Key facts

• Updated electrical
• Newer furnace
• Newer roof

Tags

• NEWER ROOF
• NEWER WINDOWS
• NEWER FURNACE
• NEWER WATER HEATER
• UPDATED PLUMBING
• UPDATED ELECTRICAL

Property features AI

Finance

• Other: Property listed by EXP Realty Main; listing agent Jordan White

Exterior

• Parking: Driveway; no garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 40 x 125 (0.12 acres)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 73/100 on livability (#214 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Market conditions: 216 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 44% of the median local income ($38k/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 $622 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 + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 21y 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 $75k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,990

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.55% ✓
• Cap rate: 12.48%
• Cash-on-cash: 22.11%
• DSCR: 1.98
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.60×
• Total profit: $15,014
• Equity at exit: $13,418

10-year hold

• IRR: 23.6%
• Equity multiple: 3.03×
• Total profit: $51,270
• Equity at exit: $7,781

Cash invested: $25,197 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,395 high
• Mortgage (P&I): −$472
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $464

Break-even live

Break-even rent $808

Max offer price $89,990

Occupancy floor 62%

Sensitivity live

Price	-10% $515	-5% $490	+0% $464	+5% $439	+10% $413
Rent	-10% $354	-5% $409	+0% $464	+5% $519	+10% $574
Rate	-1.0pp $510	-0.5pp $487	base $464	+0.5pp $441	+1.0pp $417

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: $22,498
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	0.29mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.39mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	0.46mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	0.50mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.62mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	44d	1	0.62mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	0.63mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.63mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	0.71mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	0.71mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.79mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.90mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.91mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	0.91mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	0.94mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	0.96mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	1.11mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.11mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	1.24mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	1.25mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	1.35mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	1.35mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.35mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	1.38mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	5d	1	1.38mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.48mi

Listing history 4 events

1. 2026-06-07
   days on market $89,990 Active 5 DOM
2. 2026-06-04
   days on market $89,990 Active 2 DOM
3. 2026-06-02
   remarks 613-char remark

   Show marketing remark (617 chars)

   Investor special in Highland Park! 3 bed, 1.5 bath home with approximately 1,460 sqft and major updates already completed including newer roof, windows, furnace, water heater, updated plumbing, and updated electrical. Rehab is well underway with drywall, mechanicals, and much of the rough work already completed. Property mainly needs finish work including kitchen, bathrooms, flooring, paint, trim, and fixtures. Solid opportunity for fix & flip or BRRRR strategy with estimated ARV of $165k-$180k. Conveniently located near Woodward Ave, Davison Freeway, and Downtown Detroit. Cash or hard money only. BATVAI

4. 2026-06-02
   listed $89,990 Active 1 DOM

   Show marketing remark (617 chars)

   Investor special in Highland Park! 3 bed, 1.5 bath home with approximately 1,460 sqft and major updates already completed including newer roof, windows, furnace, water heater, updated plumbing, and updated electrical. Rehab is well underway with drywall, mechanicals, and much of the rough work already completed. Property mainly needs finish work including kitchen, bathrooms, flooring, paint, trim, and fixtures. Solid opportunity for fix & flip or BRRRR strategy with estimated ARV of $165k-$180k. Conveniently located near Woodward Ave, Davison Freeway, and Downtown Detroit. Cash or hard money only. BATVAI

ⓘ 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: $1,544 · $129/mo
• Projected year-2 tax: $1,544 · $129/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 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,744
• − Mortgage interest: −$5,041
• − Property taxes: −$1,544
• − Insurance: −$450
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$2,618
• Taxable income: $4,412
• Est. tax owed @ 24.0%: −$1,059
• After-tax cash flow: $4,512/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)

No district data.

Livability — Highland Park

• Score: 73/100
• State rank: #214
• US rank: #5271

Category grades

Amenities B Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Park, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -90.13%
• Current HPI: 297.0176
• 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

+28.6% since first listed

26 events — show timeline

• 2026-06-02 Listed $89,990 REALCOMP
• 2026-06-02 Listed $89,990 MiRealSource-MiMLS
• 2021-10-03 Listing Removed — REALCOMP
• 2021-10-02 Listing Removed — MiRealSource-MiMLS
• 2021-09-17 Relisted — REALCOMP
• 2021-09-14 Listing Removed — REALCOMP
• 2021-08-14 Price Changed $48,000 MiRealSource-MiMLS
• 2021-08-14 Price Changed $48,000 REALCOMP
• 2021-04-16 Relisted — REALCOMP
• 2021-04-13 Listing Removed — REALCOMP
• 2021-01-15 Relisted — REALCOMP
• 2021-01-13 Listing Removed — REALCOMP
• 2020-10-21 Price Changed $50,000 MiRealSource-MiMLS
• 2020-10-21 Price Changed $50,000 REALCOMP
• 2020-10-20 Relisted — MiRealSource-MiMLS
• 2020-10-20 Relisted — REALCOMP
• 2020-09-25 Pending — MiRealSource-MiMLS
• 2020-09-25 Pending — REALCOMP
• 2019-11-06 Price Changed $45,000 MiRealSource-MiMLS
• 2019-11-05 Price Changed $45,000 REALCOMP
• 2019-10-02 Listed $55,000 MiRealSource-MiMLS
• 2019-10-02 Listed $55,000 REALCOMP
• 2007-08-15 Sold (Public Records) $75,000 Public Records
• 2007-07-20 Sold (Public Records) $61,934 Public Records
• 2005-10-24 Listing Removed — REALCOMP
• 2005-05-26 Listed $70,000 REALCOMP

Property tax history

+0.8%/yr

Latest (2025): $1,544 · -18.5% YoY. Source: county tax records.