716 Mill Street Mill St · Lincoln Park, MI 48146

$125,000

3 bd · 1.0 ba · 950 sqft · SingleFamily public records · 29 Days on market

Built 1949 3,920 sqft lot Est $142k · 12% under

---

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 +20.3/30.0
• ARV discount +13.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming bungalow with great potential, located on a quiet street in a well-established neighborhood. This home offers a solid layout with comfortable living space, featuring 3 bedrooms, and 1 bath, making it perfect for first-time buyers, downsizers, or investors. The property is structurally sound and just needs cosmetic updates to bring out it full beauty, an ideal opportunity to add your personal touch and build instant equity. Partially finished basement. Enjoy a spacious yard, perfect relaxing or entertaining, along with convenient access to local amenities, shopping, dining, and major roadways. Whether you're looking to renovate and make it your own or add to your investment portfolio, this home is full of potential and ready for its next chapter. Sold as-is. Buyer to verify all information.

Key facts

• 3,920 sq ft lot
• Built 1949
• Listed 29 days

Property features AI

Finance

• Other: Home warranty included

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; Residential property; Aluminum siding
• Construction: Aluminum siding construction; Above-grade finished area plus below-grade finished area
• Exterior features: Paved road access; Lot roughly 0.09 acres (approximately 35 x 109.5 feet)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Partially finished basement; One and one-half levels; Ground-level entry; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 6.4% in Lincoln Park — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 80/100 on livability (#82 in MI, #1,720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D-, crime F, employment D-.
• Lincoln Park School District (suburban): math 15% / reading 32% proficiency, ranked #440 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 154 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($123k) 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — 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 D-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: 1.05% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $142,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 London Ave	0.35mi	3/1.0	944 (-1%)	2mo	$187,000	$198	80
483 Park Ave	0.36mi	3/2.0	988 (+4%)	3mo	$206,000	$209	70
939 Stewart Ave	0.52mi	3/1.0	912 (-4%)	1mo	$138,000	$151	68
4635 5th St	0.70mi	3/1.0	965 (+2%)	1mo	$99,900	$104	64
350 Labadie St	0.70mi	3/1.0	960 (+1%)	3mo	$99,000	$103	63
2458 River Dr	0.38mi	3/1.0	1,078 (+14%)	1mo	$144,000	$134	59
277 White St	0.58mi	3/1.0	1,007 (+6%)	6mo	$151,000	$150	58
1120 Mayflower Ave	0.55mi	3/1.0	864 (-9%)	2mo	$100,000	$116	57
1368 Wilson Ave	0.73mi	3/1.0	912 (-4%)	5mo	$165,000	$181	55
4548 8th St	0.53mi	3/1.0	1,077 (+13%)	2mo	$109,000	$101	51
1215 Mill St	0.59mi	2/1.0 (-1)	1,054 (+11%)	5mo	$110,000	$104	45
1512 Marion Ave	0.66mi	3/2.0	1,056 (+11%)	6mo	$195,000	$185	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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-7,812
• Equity at exit: $18,638

10-year hold

• IRR: 5.7%
• Equity multiple: 1.45×
• Total profit: $15,848
• Equity at exit: $10,808

Cash invested: $35,000 (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 48146

• Home prices YoY: -32.7%
• Rents YoY: 4.7%
• Active inventory: 154
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$656
• Tax from tax record: −$169 /mo · $2,034/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $160

Break-even live

Break-even rent $1,110

Max offer price $125,000

Occupancy floor 83%

Sensitivity live

Price	-10% $231	-5% $196	+0% $160	+5% $125	+10% $89
Rent	-10% $56	-5% $108	+0% $160	+5% $212	+10% $264
Rate	-1.0pp $223	-0.5pp $192	base $160	+0.5pp $128	+1.0pp $95

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	25d	1	0.46mi
1331 Pingree Ave Lincoln Park, MI	2.0	1.0	725	$1,300	$1.79	0d	1	0.72mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	18d	1	0.72mi
4573 3rd St Ecorse, MI	2.0	1.0	1000	$1,300	$1.30	15d	1	0.79mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	19d	1	0.81mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	19d	1	0.82mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	25d	1	1.05mi
4581 High St Unit 13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	25d	1	1.06mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	25d	1	1.06mi
4471 High St Unit 81-13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	25d	1	1.10mi
4471 High St Unit 71-7 Ecorse, MI	2.0	1.0	700	$1,150	$1.64	25d	1	1.10mi
4435 High St Ecorse, MI	2.0	1.0	792	$1,095	$1.38	6d	1	1.12mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	25d	1	1.13mi
177 N Riverbank St Wyandotte, MI	2.0	1.0	671	$1,600	$2.38	0d	1	1.17mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	15d	1	1.23mi
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	18d	1	1.23mi
168 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,295	$1.20	6d	1	1.26mi
170 Bondie St Wyandotte, MI	3.0	1.0	1080	$1,399	$1.30	3d	1	1.26mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	5d	1	1.26mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	25d	1	1.26mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	3d	1	1.26mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	3d	1	1.27mi
146 Bondie St Wyandotte, MI	2.0	1.0	820	$1,650	$2.01	0d	1	1.27mi
850 Biddle Ave Unit 2 Wyandotte, MI	2.0	1.0	800	$1,300	$1.62	0d	1	1.44mi

Listing history 7 events

1. 2026-06-04
   status $125,000 Pending 29 DOM
2. 2026-06-03
   days on market $125,000 Active 29 DOM
3. 2026-06-02
   days on market $125,000 Active 28 DOM
4. 2026-06-01
   days on market $125,000 Active 27 DOM
5. 2026-05-31
   days on market $125,000 Active 26 DOM
6. 2026-05-05
   listed $125,000 Active

   Show marketing remark (809 chars)

   Charming bungalow with great potential, located on a quiet street in a well-established neighborhood. This home offers a solid layout with comfortable living space, featuring 3 bedrooms, and 1 bath, making it perfect for first-time buyers, downsizers, or investors. The property is structurally sound and just needs cosmetic updates to bring out it full beauty, an ideal opportunity to add your personal touch and build instant equity. Partially finished basement. Enjoy a spacious yard, perfect relaxing or entertaining, along with convenient access to local amenities, shopping, dining, and major roadways. Whether you're looking to renovate and make it your own or add to your investment portfolio, this home is full of potential and ready for its next chapter. Sold as-is. Buyer to verify all information.

7. 2026-05-05
   listed $125,000 Active 809-char remark

   Show marketing remark (809 chars)

   Charming bungalow with great potential, located on a quiet street in a well-established neighborhood. This home offers a solid layout with comfortable living space, featuring 3 bedrooms, and 1 bath, making it perfect for first-time buyers, downsizers, or investors. The property is structurally sound and just needs cosmetic updates to bring out it full beauty, an ideal opportunity to add your personal touch and build instant equity. Partially finished basement. Enjoy a spacious yard, perfect relaxing or entertaining, along with convenient access to local amenities, shopping, dining, and major roadways. Whether you're looking to renovate and make it your own or add to your investment portfolio, this home is full of potential and ready for its next chapter. Sold as-is. Buyer to verify all information.

ⓘ 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: $2,034 · $169/mo
• Projected year-2 tax: $2,034 · $169/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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,756
• − Mortgage interest: −$7,002
• − Property taxes: −$2,034
• − Insurance: −$625
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$3,636
• Taxable loss: −$63
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $1,937/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: Lincoln Park School District
• NCES district ID: 2621600
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $41,486
• Composite: 19.93/100
• National rank: #8678
• State rank: #440 of 540 in MI

Livability — Lincoln Park

• Score: 80/100
• State rank: #82
• US rank: #1720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Park, MI
• County: Wayne County · 1,562,939 people
• City population: 39,257
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,257
• Household income: $58,616
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1142.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 17% Arabic 2%

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: ▼ -108.25%
• Current HPI: 222.8545
• Rent YoY: ▲ 4.65%
• 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

• 2026-05-05 Listed $125,000 MiRealSource-MiMLS
• 2026-05-05 Listed $125,000 REALCOMP

Property tax history

+4.9%/yr

Latest (2025): $2,034 · +2.2% YoY. Source: county tax records.