108 Massachusetts St · Highland Park, MI 48203

$105,000

5 bd · 3.0 ba · 2,562 sqft · SingleFamily public records · 17 Days on market

Built 1910 6,098 sqft lot Est $205k · 49% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Opportunity for investment on a 2500+ sqft Colonial with new windows and a solid foundation. Massachussets Street is currently undergoing construction for new water pipes at the street adding to the value of what this property could be.

Key facts

• Solid foundation
• New windows
• 6,098 sq ft lot

Tags

• NEW WINDOWS
• SOLID FOUNDATION

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Sewer available
• Home design: Single-family residence; Ground-level entry with steps; Brick construction; Asphalt roof
• Construction: Brick/mortar foundation
• Exterior features: Covered porch; Fenced yard; Paved road access

Interior

• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Fireplace in the family room; Unfinished walk-out basement

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.

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: 219 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,976/mo this rent would consume 62% of the median local household income ($38k/yr) (locally 1192% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $90k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.88% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.83%
• DSCR: 2.37
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $204,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 Massachusetts St	0.08mi	5/2.0	2,619 (+2%)	7mo	$160,000	$61	82
93 Massachusetts St	0.04mi	4/2.0 (-1)	2,468 (-4%)	6mo	$197,000	$80	78
124 Massachusetts St	0.02mi	4/3.0 (-1)	2,594 (+1%)	22mo	$214,000	$82	73
117 Massachusetts St	0.03mi	5/1.0	2,640 (+3%)	16mo	$123,000	$47	72
59 Mclean St	0.26mi	4/3.5 (-1)	2,415 (-6%)	1mo	$287,000	$119	70
171 Mclean St	0.27mi	4/3.0 (-1)	2,320 (-9%)	8mo	$40,000	$17	60
39 Colorado St	0.22mi	5/2.0	2,200 (-14%)	3mo	$211,000	$96	60
165 Connecticut St	0.16mi	4/2.0 (-1)	2,326 (-9%)	12mo	$188,500	$81	59
149 Avalon St	0.59mi	4/2.0 (-1)	2,500 (-2%)	8mo	$62,000	$25	52
94 Massachusetts St	0.03mi	4/1.0 (-1)	2,265 (-12%)	17mo	$159,793	$71	52
149 Colorado St	0.19mi	4/1.0 (-1)	2,302 (-10%)	15mo	$160,000	$70	49
719 Webb St	0.58mi	5/3.0	2,225 (-13%)	10mo	$314,000	$141	42

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: 25.6%
• Equity multiple: 2.06×
• Total profit: $31,177
• Equity at exit: $15,656

10-year hold

• IRR: 33.4%
• Equity multiple: 4.04×
• Total profit: $89,422
• 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 48203

• Home prices YoY: -23.3%
• Active inventory: 219
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,976 high
• Mortgage (P&I): −$551
• Tax from tax record: −$211 /mo · $2,537/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $755

Break-even live

Break-even rent $1,020

Max offer price $105,000

Occupancy floor 57%

Sensitivity live

Price	-10% $815	-5% $785	+0% $755	+5% $726	+10% $696
Rent	-10% $599	-5% $677	+0% $755	+5% $833	+10% $912
Rate	-1.0pp $808	-0.5pp $782	base $755	+0.5pp $728	+1.0pp $701

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	3d	1	0.32mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	16d	1	0.32mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	0d	1	1.21mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	23d	1	1.21mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	23d	1	1.33mi

Listing history 10 events

1. 2026-06-21
   days on market $105,000 Active 17 DOM
2. 2026-06-18
   days on market $105,000 Active 14 DOM
3. 2026-06-17
   days on market $105,000 Active 13 DOM
4. 2026-06-16
   days on market $105,000 Active 12 DOM
5. 2026-06-15
   days on market $105,000 Active 11 DOM
6. 2026-06-13
   days on market $105,000 Active 9 DOM
7. 2026-06-09
   days on market $105,000 Active 5 DOM
8. 2026-06-08
   days on market $105,000 Active 4 DOM
9. 2026-06-07
   remarks 236-char remark
10. 2026-06-07
    listed $105,000 Active 3 DOM

ⓘ 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: $2,537 · $211/mo
• Projected year-2 tax: $2,537 · $211/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,715
• − Mortgage interest: −$5,882
• − Property taxes: −$2,537
• − Insurance: −$525
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − Depreciation: −$3,055
• Taxable income: $7,922
• Est. tax owed @ 24.0%: −$1,901
• After-tax cash flow: $7,164/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
• 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

+16.2% since first listed

11 events — show timeline

• 2026-06-04 Listed $105,000 MiRealSource-MiMLS
• 2026-06-04 Listed $105,000 REALCOMP
• 2020-06-29 Listing Removed — REALCOMP
• 2020-06-29 Listing Removed — MiRealSource-MiMLS
• 2020-06-13 Price Changed $15,500 MiRealSource-MiMLS
• 2020-06-13 Price Changed $15,500 REALCOMP
• 2020-05-26 Price Changed $27,500 MiRealSource-MiMLS
• 2020-05-26 Price Changed $27,500 REALCOMP
• 2020-05-19 Listed $35,500 MiRealSource-MiMLS
• 2020-05-19 Listed $35,500 REALCOMP
• 2004-04-16 Sold (Public Records) $90,400 Public Records

Property tax history

+11.6%/yr

Latest (2025): $2,537 · -18.5% YoY. Source: county tax records.