21 North St · Highland Park, MI 48203

$199,000

6 bd · 1.0 ba · 2,198 sqft · SingleFamily public records · 101 Days on market

Built 1916 4,356 sqft lot $91/sqft · 277% above 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 +15.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.8/10.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

Key facts

• 4,356 sq ft lot
• Built 1916
• Listed 100 days

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (17.4% below list).
• Recommended offer: $164k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 14.2% in Highland Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,643/mo this rent would consume 51% 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 $1k of loan paydown is wiped out by about $6k 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 101 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $26k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $199k implies a 2743% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,282 (17.4% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.88%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (median comp): $52,822
• List price: $199,000
• Delta: 297.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Puritan St	0.50mi	5/1.5 (-1)	2,266 (+3%)	19mo	$145,000	$64	48
16814 Normandy St	0.52mi	5/2.5 (-1)	2,022 (-8%)	21mo	$273,900	$135	34
16523 LA Salle Ave	0.52mi	5/1.5 (-1)	1,936 (-12%)	19mo	$125,000	$65	33

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-26,766
• Equity at exit: $29,672

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-16,461
• Equity at exit: $17,206

Cash invested: $55,720 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$84 /mo · $1,009/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $87

Break-even live

Break-even rent $1,532

Max offer price $199,000

Occupancy floor 90%

Sensitivity live

Price	-10% $200	-5% $144	+0% $87	+5% $31	+10% $-25
Rent	-10% $-43	-5% $22	+0% $87	+5% $152	+10% $217
Rate	-1.0pp $187	-0.5pp $138	base $87	+0.5pp $36	+1.0pp $-17

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	12d	1	0.36mi

Listing history 28 events

1. 2026-06-21
   pricedays on market $199,000 Active 101 DOM
2. 2026-06-18
   days on market $210,000 Active 98 DOM
3. 2026-06-17
   days on market $210,000 Active 97 DOM
4. 2026-06-16
   days on market $210,000 Active 96 DOM
5. 2026-06-15
   days on market $210,000 Active 95 DOM
6. 2026-06-13
   days on market $210,000 Active 93 DOM
7. 2026-06-09
   days on market $210,000 Active 89 DOM
8. 2026-06-08
   days on market $210,000 Active 88 DOM
9. 2026-06-07
   days on market $210,000 Active 87 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    days on market $210,000 Active 84 DOM
12. 2026-06-03
    days on market $210,000 Active 83 DOM
13. 2026-06-02
    days on market $210,000 Active 82 DOM
14. 2026-06-01
    days on market $210,000 Active 81 DOM
15. 2026-05-31
    days on market $210,000 Active 80 DOM
16. 2026-05-06
    price $220,000 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

17. 2026-05-05
    price $220,000 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

18. 2026-04-03
    status Active 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

19. 2026-04-03
    status Active 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

20. 2026-03-23
    historical Accepting Backup Offers 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

21. 2026-03-23
    historical Active Under Contract 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

22. 2026-03-13
    listed $225,000 Active 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

23. 2026-03-13
    listed $225,000 Active 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

24. 2026-03-11
    historical $225,000 341-char remark

    Show marketing remark (341 chars)

    Welcome to the fully renovated Highland Park Gem! 3 beds, 1 bath, open layouts and tons of light. Proximity to Palmer Park, Ferndale and Livernois restaurants and shops, and ten minute drive downtown. Great opportunity for a house hack in an up and coming area or investment opportunity! Adjacent lot is being sold through Land Bank. BATVAI.

25. 2000-05-31
    soldstatus $7,000
26. 2000-04-21
    listed $7,000
27. 1999-08-22
    historical
28. 1999-07-27
    listed $8,000

ⓘ 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: $1,009 · $84/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: +$1,028/yr (+$86/mo · 101.9%)

ⓘ 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: $19,714
• − Mortgage interest: −$11,147
• − Property taxes: −$1,009
• − Insurance: −$995
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$5,789
• Taxable loss: −$2,380
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $1,618/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

+2650.0% since first listed

13 events — show timeline

• 2026-05-06 Price Changed $220,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $220,000 REALCOMP
• 2026-04-03 Relisted — MiRealSource-MiMLS
• 2026-04-03 Relisted — REALCOMP
• 2026-03-23 Contingent — MiRealSource-MiMLS
• 2026-03-23 Contingent — REALCOMP
• 2026-03-13 Listed $225,000 MiRealSource-MiMLS
• 2026-03-13 Listed $225,000 REALCOMP
• 2026-03-11 Coming Soon $225,000 MiRealSource-MiMLS
• 2000-05-31 Sold (MLS) $7,000 REALCOMP
• 2000-04-21 Listed $7,000 REALCOMP
• 1999-08-22 Listing Removed — REALCOMP
• 1999-07-27 Listed $8,000 REALCOMP

Property tax history

-5.4%/yr

Latest (2025): $1,009 · -18.5% YoY. Source: county tax records.