231 Grove St · Highland Park, MI 48203

$16,350

2 bd · 1.0 ba · 1,446 sqft · SingleFamily public records · 3 Days on market

Built 1915 4,356 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 awaits with this 2-bedroom, 1-bath home ready for a complete transformation. This property requires a full rehabilitation and is being sold as-is, making it ideal for investors, renovators, or buyers looking to create their dream home from the ground up. With solid potential and a functional layout, this is your chance to add value and bring new life to a property in need of restoration. Whether you're planning a flip, rental, or personal residence, the possibilities are endless. BATVAI

Key facts

• 4,356 sq ft lot
• Built 1915
• Listed 3 days

Property features AI

Finance

• Financial info: $808 annual tax
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Above-grade finished area approximately 1,446; Built as a single-level structure
• Exterior features: Lot approximately 0.1 acres; Lot dimensions: 4356

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Has basement; Two total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $896 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Cap rate 72.0% vs local median 14.2% in Highland Park — 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 (#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; 34 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 41% 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 $114 of loan paydown is wiped out by about $490 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: property tax is 4.2% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $16,350

Questions for the listing agent

1. Built in 1915 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 8.09% ✓
• Cap rate: 72.05%
• Cash-on-cash: 234.83%
• DSCR: 11.45
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $80,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16177 Inverness St	0.43mi	3/1.0 (+1)	1,404 (-3%)	4mo	$70,000	$50	67
361 Pilgrim St	0.45mi	2/1.0	1,368 (-5%)	10mo	$8,000	$6	62
220 Moss St	0.37mi	3/1.5 (+1)	1,379 (-5%)	12mo	$186,000	$135	59
241 Moss St	0.38mi	3/1.0 (+1)	1,300 (-10%)	3mo	$172,500	$133	58
15877 Baylis St	0.59mi	3/1.0 (+1)	1,400 (-3%)	5mo	$71,000	$51	58
156 Hill St	0.20mi	3/1.5 (+1)	1,639 (+13%)	11mo	$154,000	$94	52
44 Grove St	0.37mi	3/1.0 (+1)	1,646 (+14%)	10mo	$8,000	$5	46
16177 Linwood St	0.66mi	3/1.0 (+1)	1,439 (-0%)	23mo	$149,000	$104	44
326 Eason St	0.23mi	3/1.0 (+1)	1,256 (-13%)	23mo	$37,000	$29	43
16189 Inverness St	0.43mi	3/1.5 (+1)	1,578 (+9%)	18mo	$160,000	$101	43
225 Moss St	0.39mi	3/1.5 (+1)	1,654 (+14%)	14mo	$65,000	$39	40
16157 Linwood St	0.67mi	3/1.0 (+1)	1,346 (-7%)	16mo	$76,000	$56	39

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: —
• Equity multiple: 12.89×
• Total profit: $54,452
• Equity at exit: $2,438

10-year hold

• IRR: —
• Equity multiple: 27.44×
• Total profit: $121,061
• Equity at exit: $1,414

Cash invested: $4,578 (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: 1.0×

Monthly cashflow live

• Estimated rent: $1,323 high
• Mortgage (P&I): −$86
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $896

Break-even live

Break-even rent $189

Max offer price $16,350

Occupancy floor 27%

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: $4,088
• Closing costs: $490
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	0.23mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	16d	1	0.40mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	43d	1	0.40mi
931 Covington Dr Unit 106 Highland Park, MI	1.0	2.0	1000	$1,275	$1.27	43d	1	0.42mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	17d	1	0.46mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	43d	1	0.47mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	43d	1	0.47mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	43d	1	0.48mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	43d	1	0.48mi
17765 Manderson Rd Unit 22 Highland Park, MI	1.0	1.0	935	$1,245	$1.33	24d	1	0.54mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	1d	1	0.54mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	43d	1	0.54mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	43d	1	0.55mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.70mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	43d	1	0.70mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	17d	1	0.81mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	16d	1	0.84mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	24d	1	0.97mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	43d	1	1.01mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	1.07mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	1.07mi
2286 Kendall St Detroit, MI	1.0	1.0	1689	$500	$0.30	43d	1	1.12mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	43d	1	1.12mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	43d	1	1.19mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	19d	1	1.24mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	4d	1	1.24mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	43d	1	1.26mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	1.37mi
17150 Santa Rosa Dr Detroit, MI	1.0	1.0	950	$1,250	$1.32	17d	1	1.38mi
17145 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	1050	$1,400	$1.33	17d	1	1.41mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	43d	1	1.46mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	24d	1	1.46mi
17147 Monica St Unit 2 1 Detroit, MI	2.0	1.0	900	$975	$1.08	24d	1	1.47mi
17551 Santa Rosa Dr Detroit, MI	2.0	1.0	1036	$1,095	$1.06	43d	1	1.48mi

Listing history 4 events

1. 2026-06-18
   days on market $16,350 Active 3 DOM
2. 2026-06-17
   days on market $16,350 Active 2 DOM
3. 2026-06-16
   remarks 503-char remark
4. 2026-06-16
   listed $16,350 Active 1 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: $683 · $57/mo
• Projected year-2 tax: $683 · $57/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥97°F today · 13 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: $15,879
• − Mortgage interest: −$916
• − Property taxes: −$683
• − Insurance: −$82
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$476
• Taxable income: $11,182
• Est. tax owed @ 24.0%: −$2,684
• After-tax cash flow: $8,067/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

+0.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $16,350 REALCOMP
• 2026-06-15 Listed $16,350 MiRealSource-MiMLS

Property tax history

-3.3%/yr

Latest (2025): $683 · -18.5% YoY. Source: county tax records.