82 W Grand · Highland Park, MI 48203

$29,500

4 bd · 1.5 ba · 1,685 sqft · SingleFamily public records · 129 Days on market

Built 1909 6,098 sqft lot $18/sqft · 67% below area

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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

Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

Key facts

• Value-add project
• Full rehab
• Single-family home

Tags

• SINGLE-FAMILY HOME
• FIRE-DAMAGED STRUCTURE
• FULL REHAB
• VALUE-ADD PROJECT
• REDEVELOPMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $989 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.5% 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: 219 active listings in the ZIP; 19 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 $1,573/mo this rent would consume 49% 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 $204 of loan paydown is wiped out by about $885 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y ago; this cycle's ask has dropped $20k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $30k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
9. 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.
10. 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.
11. 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: 5.33% ✓
• Cap rate: 46.52%
• Cash-on-cash: 143.66%
• DSCR: 7.39
• GRM: 1.6

CMA / ARV

• ARV (median comp): $89,260
• List price: $29,500
• Delta: -66.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Midland St	0.59mi	3/1.5 (-1)	1,664 (-1%)	1mo	$150,000	$90	65
219 Waverly St	0.30mi	3/1.0 (-1)	1,557 (-8%)	6mo	$145,000	$93	61
155 Winona St	0.51mi	4/2.0	1,764 (+5%)	9mo	$130,000	$74	59
79 E Grand	0.32mi	4/1.0	1,832 (+9%)	13mo	$183,000	$100	58
215 Winona St	0.61mi	3/2.0 (-1)	1,759 (+4%)	1mo	$115,000	$65	56
194 Farrand Park	0.64mi	4/2.0	1,610 (-4%)	5mo	$189,000	$117	56
124 E Grand	0.40mi	3/2.5 (-1)	1,800 (+7%)	8mo	$84,500	$47	54
81 Richton St	0.66mi	5/1.5 (+1)	1,776 (+5%)	3mo	$48,000	$27	53
157 Rhode Island St	0.72mi	4/1.0	1,818 (+8%)	3mo	$90,000	$50	49
150 Mclean St	0.62mi	5/2.0 (+1)	1,770 (+5%)	10mo	$65,000	$37	47
202 Farrand Park	0.66mi	3/1.0 (-1)	1,482 (-12%)	4mo	$40,000	$27	38
225 Farrand Park	0.68mi	3/1.0 (-1)	1,458 (-14%)	2mo	$20,000	$14	37

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: 8.05×
• Total profit: $58,256
• Equity at exit: $4,399

10-year hold

• IRR: —
• Equity multiple: 16.99×
• Total profit: $132,048
• Equity at exit: $2,551

Cash invested: $8,260 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,573 high
• Mortgage (P&I): −$155
• Tax from tax record: −$87 /mo · $1,043/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $989

Break-even live

Break-even rent $321

Max offer price $29,500

Occupancy floor 32%

Sensitivity live

Price	-10% $1,006	-5% $997	+0% $989	+5% $981	+10% $972
Rent	-10% $865	-5% $927	+0% $989	+5% $1,051	+10% $1,113
Rate	-1.0pp $1,004	-0.5pp $996	base $989	+0.5pp $981	+1.0pp $973

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: $7,375
• Closing costs: $885
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	0.35mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	19d	1	0.52mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,780	$1.05	0d	1	0.58mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	16d	1	0.64mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	3d	1	0.64mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	19d	1	0.71mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	6d	1	0.90mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	21d	1	0.90mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.94mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	19d	1	0.98mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	19d	1	1.01mi
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	12d	1	1.07mi
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	25d	1	1.09mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	45d	1	1.27mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	25d	1	1.27mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.31mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	19d	1	1.34mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	14d	1	1.39mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	16d	1	1.44mi

Listing history 37 events

1. 2026-06-04
   days on market $29,500 Active 129 DOM
2. 2026-06-03
   days on market $29,500 Active 128 DOM
3. 2026-06-02
   days on market $29,500 Active 127 DOM
4. 2026-06-01
   days on market $29,500 Active 126 DOM
5. 2026-05-31
   days on market $29,500 Active 125 DOM
6. 2026-04-16
   price $29,500 300-char remark

   Show marketing remark (300 chars)

   Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

7. 2026-04-15
   price $29,500 302-char remark

   Show marketing remark (302 chars)

   Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

8. 2026-04-02
   price $33,900 300-char remark

   Show marketing remark (302 chars)

   Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

9. 2026-04-02
   price $33,900 302-char remark

   Show marketing remark (302 chars)

   Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

10. 2026-03-23
    price $38,000 300-char remark

    Show marketing remark (300 chars)

    Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

11. 2026-03-22
    price $38,000 302-char remark

    Show marketing remark (302 chars)

    Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

12. 2026-02-26
    price $44,000 300-char remark

    Show marketing remark (302 chars)

    Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

13. 2026-02-26
    price $44,000 302-char remark

    Show marketing remark (302 chars)

    Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

14. 2026-01-27
    listed $49,000 Active 302-char remark

    Show marketing remark (302 chars)

    Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

15. 2026-01-25
    listed $49,000 Active 300-char remark

    Show marketing remark (300 chars)

    Investment opportunity in Highland Park! 82 W Grand Blvd (single-family home, vacant and ready for renovation) Ideal for investors, builders, or developers looking for a value-add project or redevelopment opportunity. Sold as-is. Buyer to assume all inspections, city requirements, and due diligence.

16. 2017-05-12
    soldstatus $7,000 Sold
17. 2017-05-12
    soldstatus $7,000 Closed
18. 2017-04-24
    status Pending
19. 2017-04-24
    status Pending
20. 2017-04-19
    listed $10,000 Active
21. 2017-04-19
    listed $10,000 Active
22. 2013-09-27
    soldstatus $1,000
23. 2013-09-27
    soldstatus $1,000
24. 2013-08-23
    historical
25. 2013-08-23
    historical
26. 2013-08-14
    listed $1,000
27. 2013-08-14
    listed $1,000
28. 2011-07-29
    soldstatus $3,500
29. 2011-07-29
    soldstatus $3,500
30. 2011-07-29
    soldstatus $3,500
31. 2011-07-06
    historical
32. 2011-06-20
    listed $3,500
33. 2011-06-20
    historical
34. 2011-03-21
    listed $4,250
35. 2011-03-21
    listed $3,500
36. 2011-03-21
    listed $3,500
37. 2002-10-23
    soldstatus $10,100

ⓘ 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: $1,043 · $87/mo
• Projected year-2 tax: $1,043 · $87/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 · 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: $18,877
• − Mortgage interest: −$1,652
• − Property taxes: −$1,043
• − Insurance: −$148
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$858
• Taxable income: $12,156
• Est. tax owed @ 24.0%: −$2,917
• After-tax cash flow: $8,949/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

+192.1% since first listed

32 events — show timeline

• 2026-04-16 Price Changed $29,500 MiRealSource-MiMLS
• 2026-04-15 Price Changed $29,500 REALCOMP
• 2026-04-02 Price Changed $33,900 MiRealSource-MiMLS
• 2026-04-02 Price Changed $33,900 REALCOMP
• 2026-03-23 Price Changed $38,000 MiRealSource-MiMLS
• 2026-03-22 Price Changed $38,000 REALCOMP
• 2026-02-26 Price Changed $44,000 MiRealSource-MiMLS
• 2026-02-26 Price Changed $44,000 REALCOMP
• 2026-01-27 Listed $49,000 REALCOMP
• 2026-01-25 Listed $49,000 MiRealSource-MiMLS
• 2017-05-12 Sold (MLS) $7,000 MiRealSource-MiMLS
• 2017-05-12 Sold (MLS) $7,000 REALCOMP
• 2017-04-24 Pending — MiRealSource-MiMLS
• 2017-04-24 Pending — REALCOMP
• 2017-04-19 Listed $10,000 MiRealSource-MiMLS
• 2017-04-19 Listed $10,000 REALCOMP
• 2013-09-27 Sold (MLS) $1,000 REALCOMP
• 2013-09-27 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2013-08-23 Listing Removed — REALCOMP
• 2013-08-23 Listing Removed — MiRealSource-MiMLS
• 2013-08-14 Listed $1,000 REALCOMP
• 2013-08-14 Listed $1,000 MiRealSource-MiMLS
• 2011-07-29 Sold (MLS) $3,500 MiRealSource-MiMLS
• 2011-07-29 Sold (MLS) $3,500 REALCOMP
• 2011-07-29 Sold (MLS) $3,500 MiRealSource-MiMLS
• 2011-07-06 Listing Removed — MiRealSource-MiMLS
• 2011-06-20 Listing Removed — MiRealSource-MiMLS
• 2011-06-20 Listed $3,500 MiRealSource-MiMLS
• 2011-03-21 Listed $3,500 MiRealSource-MiMLS
• 2011-03-21 Listed $3,500 REALCOMP
• 2011-03-21 Listed $4,250 MiRealSource-MiMLS
• 2002-10-23 Sold (Public Records) $10,100 Public Records

Property tax history

-4.3%/yr

Latest (2025): $1,043 · -18.5% YoY. Source: county tax records.